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【讲座通知】7月15日夏威夷大学S.Ghon Rhee教授讲座通知

来源:科研学科办公室 作者:姜娜 发布时间:2023-07-12 14:51:52 点击数:

报告时间:71510:00-12:00

报告地点:管楼G216

报告题目:Corporate Governance, Idiosyncratic Risk, and Dividend Policy


报告摘要

We reconcile two competing views regarding the relation between corporate governance and payout policy by uncovering the moderating roles of under- and over-investment risk. Our empirical evidence indicates that corporate governance and payout propensity exhibit a negative association (substitute) for firms with a high level of under-investment risk. This association turns positive (complement) for firms with a higher level of over-investment risk. These findings are robust to several checks, including alternative governance measures and exogenous shocks to the quality of corporate governance. Lastly, we observe a similar phenomenon on share repurchase, total payout, and the level of payout.


报告人简介

S.Ghon Rhee,夏威夷大学Shidler商学院国际银行与金融K.J. Luke杰出教授,同时兼任台湾国立中央大学讲席教授、东北财经大学访问教授。他是Pacific Basin Finance Journal创刊主编,曾在2014-2016年担任亚洲金融学会主席和美国财务金融学会委员。他在2020获得了中国国际金融风险论坛终身成就奖。他的主要研究方向为金融风险,在JFJFERFE等顶级金融期刊发表了很多有影响力的研究。