讲座人：张敏 副教授

讲座主题：Employment Protection Legislation and Firm Risk-Taking

讲座时间：2014年12月17日，周三，14:00开始

讲座地点：学院南路校区学术会堂706会议室

讲座人简介：张敏，中国人民大学商学院副教授，博士生导师。主要研究领域为公司治理、制度财务、审计。目前已经在“Journal of Corporate Finance (SSCI)”、“Journal of Business Ethics (SSCI)”、“Pacific-Basin Finance Journal (SSCI)”、“Corporate Governance: An International Review (SSCI)”、“Asian Economic Papers (SSCI)”、“Emerging Markets Finance & Trade (SSCI)”、“Applied Financial Economics”、“The Social Science Journal (SSCI)”、《经济研究》、《管理世界》、《世界经济》、《金融研究》、《会计研究》等国内外核心期刊发表论文四十余篇。

摘要： Labor market frictions impact firms’ financing and investing activities. Using cross-country data, we investigate the effect of employment protection legislation, a source of labor market frictions, on firms’ risk-taking behaviors. Our results suggest that a high labor market adjustment cost discourages firm risk-taking. In addition, good legal enforcement enhances such an effect. Further analysis reveals that this negative association is more pronounced in small firms and firms in labor intensive industries, but is weakened by labor bargaining. Finally, strict employment protection legislation encourages precautionary savings and discourages R&D and capital expenditure.

本次论坛参加人员范围：会计学院教师、博士生、本硕博连读生、以及本科生学术创新实验班成员。

[编辑]：孙颖