主讲人：凌崚(美国佐治亚学院暨州立大学金融学终身副教授)
主持人：周铭山（金融学院副院长、副教授）
时 间：2015年5月22日（周五）上午9:30
地 点：金融学科实验楼411会议室
主办单位：大金融学术研究沙龙、金融学院、科研处
主讲人简介：
凌崚教授现任美国佐治亚学院暨州立大学终身副教授，同时也是美国金融协会(AFA)和国际财务管理协会(FMA)会员，毕业于美国佐治亚学院暨州立大学，拥有金融学博士和工商管理硕士学位。凌崚教授的主要研究方向为机构投资者, 共同基金和公司金融等。曾在Review of Financial Studies，Journal of Financial Markets，证券市场导报等知名期刊发表过文章。
讲座内容：
This paper examines the influence of a firm’s political connections on external financing, corporate investment, and financial performance. Unlike previous research that focuses on CEOs or Chairmen only, our study looks at the political background of all members of top executives and the board of directors. We find that political connections are negatively related to firm profitability. We also find that firms with stronger connections are financed with more long-term bank loansand are more likely to overinvest, which partially explains the adverse effect of political connections on performance.
