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【经管•论坛】学术报告(经管论坛第51期)
[ 作者:admin 来源:哈工大(威海)新闻网 浏览:193 录入时间:2018年5月10日 ]

报告题目:

Liquidity Risk and Takeovers

主要内容:

1.This paper identifies a strong effect of liquidity risk on takeover likelihood. Liquidity risk is defined as the innovation of market liquidity on risk premium.

2.In addition, using mutual fund outflows as an instrument for liquidity shock, this paper separates the forward-looking effects from observed liquidity risk and identifies a true association between liquidity risk and takeover vulnerability.

3..A one percentage point increase in liquidity beta will lead to a statistically significant 0.458 percentage point increase in takeover probability, relative to a 0.0702 unconditional takeover probability.

4.The results illustrate the impact of liquidity risk channel on takeovers, indicating that financial markets have trigger effects related to liquidity risk and takeover deals.

 

主讲人:徐浩峰

中山大学管理学院副教授、博士生导师,助理教授,哥伦比亚大学商学院访问学者,欧洲会计学年会2017, 2018分会场主。近三年发表学术论文8篇,

国内研究成果获得广东省金融学会第六届优秀金融科研成果一等奖,同时于本领域重要学术会议,如:中国国际金融年会,实证会计学年会报告个人的研究成果。主持国家自然科学基金、广东省自然科学基金、广东省软科学以及上海证券交易所研究课题。

主办单位:经济管理学院

    间:   2018512日晚6:00

    点:   经济管理学院518报告厅




文章发布员:韩茹