时间：2021年12月17日（周五）   地点：腾讯会议

报告1

时间：8:30-9:30

报告：Corporate Taxes and Corporate Social Responsibility

报告人：金雅玲（新加坡南洋理工大学）

摘要：The paper examines the impact of corporate taxes on corporate social responsibility (CSR) by exploiting the staggered changes in corporate income tax rates across U.S. states as a quasi-natural experiment. Firms’ CSR performance significantly improves following tax cuts, suggesting that firms rely on internal funds for CSR investments. In contrast, tax increases have no significant effect on firms’ CSR performance, consistent with the rigidity of CSR. The impact of tax decreases on CSR is more pronounced for firms with more tax exposure, greater reliance on internal funds for investment, headquarters in more CSR-friendly states, more socially responsible institutional investors, more long-term oriented CEOs, or more fierce industry competition. Overall, our findings illustrate how public policies can drive sustainability and shape corporate social responsibility.

报告人简介：金雅玲，新加坡南洋理工大学金融学博士研究生（2017年至今）。研究生毕业于对外经济贸易大学，获会计学硕士学位，本科毕业于对外经济贸易大学，获会计学学士学位。研究方向为公司金融、可持续金融、企业创新。

报告2

时间：9:30-10:30

报告：Public-Sector Information Transparency and Corporate Financial Misconduct: Evidence from State Freedom of Information Act

报告人：林心田（纽约城市大学巴鲁克学院）

摘要：Exploiting the staggered state freedom of information act (FOIA) reform, I study how public-sector information transparency affects financial reporting in the private sector. I posit that the state FOIA reform curbs corporate financial misconduct through both its immediate information-transparency shock on government contracts, subsidy grants and government relation activities, and its long-term effect on local social norm. I find evidence consistent with the short-term impact of state FOIA reform for firms that depend more on government contracts. For other firms, the impact of state FOIA reform tends to be in the long run, especially for states dominated by Democrats, who are the advocates of open government. Overall, my study documents important externalities of public-sector information transparency on private-sector disclosure behavior.

报告人简介：林心田，纽约城市大学巴鲁克学院会计学博士研究生（2016年至今）。2015年本科毕业于厦门大学，获会计学学士学位。研究方向为企业舞弊及违规行为，信息披露，以及与金融学、政治学的交叉研究。

报告3

时间：10:30-11:30

报告：The Impact of Cultural Diversity in Local Communities on Firm Value: Evidence from a quasi-natural experiment

报告人：玄宇豪（西南财经大学）

摘要：Using the staggered exogenous shocks across the U.S. of increasing cultural diversity in local communities, we find that the firm value of treatment firms (i.e., firms headquartered in communities whose cultural diversity is increasing) decreases significantly afterward. Investors’ discussions on Stocktwits also become pessimistic and distrustful after foreign culture enters, as natives’ backlash to the foreign culture. Our results are consistent with the argument that cultural diversity impedes firm value by reducing investors’ trust in firms, due to the natives’ backlash (e.g., xenophobia or nationalism). Furthermore, we find the cultural inclusiveness of local communities can alleviate the above adverse effect. That is, firms located in culturally inclusive communities are not affected significantly. Lastly, customers and employees are also adversely affected.

报告人简介：玄宇豪，西南财经大学会计学院博士研究生（2017年至今）。2017年本科毕业于海南大学会计学专业，同年9月保送至西南财经大学会计学院攻读博士项目。个人主要研究领域包括资本市场、行为金融与公司治理。研究成果发表于Journal of Financial Economics、《世界经济》等国际、国内重要期刊。主研多项国家级与省部级课题。