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【2020-12-18 博士生论坛】

作者: | 发布日期:2020-12-17| 浏览次数:

 

时间:20201218日(周五上午),10:00-12:00  

 

地点:腾讯APP会议(会议号:请有意向参加的博士生和老师联系赵莹老师获取)

 

研讨会一详细议程:10:00-11:00  

 

报告:Contracting in a Short-Term Relationship: Evidence from Asset Sales Agreements    

 

报告人:袁歆

 

摘要:Using a large sample of asset sales agreements compiled from SEC filings, I examine the use of contracting mechanisms in a short-term business relationship. I first show that higher information asymmetry between buyers and sellers is associated with the use of more representations and warranties, covenants, and special payment arrangements. Importantly, my result suggests that these contracting mechanisms are used as complements to one another. Further analysis shows that this complementarity is more pronounced when agency conflicts become more severe. These results differ from prior findings on long-term contracts that different mechanisms usually serve as substitutes. The evidence is consistent with the view that the length of a relationship influences contract efficiency in employing multiple mechanisms—while in a long-term relationship, contracts tend to rely on few provisions, short-term contracts depend more on multiple mechanisms.  

 

报告人简介:

 

袁歆,纽约城市大学巴鲁学院会计系博士研究生,本科毕业于厦门大学会计系。博士期间研究领域涉及公司契约、企业网络安全披露以及公司治理。

 

 

研讨会二详细议程:1100-12:00  

 

报告:Employee Cognitive Skills and Management Forecasts

 

报告人:贾亦凡  

 

摘要:Our study examines the association between employee cognitive skills and the issuance of management forecasts. Using information from online postings of professional jobs, we measure employers’ requirements for cognitive skills from their employees and find that cognitive skill requirements are positively associated with both the likelihood and frequency of management forecast issuance. This association is more pronounced for firms operating in a more complex and uncertain business environment, and holds for specific types of management forecasts including earnings, sales, and capital expenditure forecasts. These results suggest that employee cognitive skills can improve the quality of internal information supplied to top executives for decision making, allowing them to better project future operation outcomes.  

 

 

报告人简介:

 

贾亦凡,香港城市大学商学院会计系博士研究生,主要研究方向公司披露、会计信息质量、供应链、企业社会责任。