浙财会计学者@新作速递

我院俞琳博士与湖南师范大学谭雪副教授、密苏里大学Hung-Gay Fung教授撰写的学术论文“Firms with short-termism: Evidence from expatriate controlling shareholders”在《Pacific-Basin Finance Journal》2022年第73期发表。

论文摘要：

We use controlling shareholders' emigration data in Chinese non-state-owned enterprises (non-SOEs) listed on stock exchanges in China to investigate the effect of changes in their residency status on firm behavior. Environmental concerns, including low-quality education, medical services, and adverse business conditions for non-SOEs, are important drivers of emigration. These firms engage in short-term investments by holding cash, real estate, and financial assets, targeting short-term earnings growth, and reducing long-term investments, such as activities and innovation through R&D and patents. The negative effect of emigration by a controlling shareholder on corporate innovation is weaker for firms with good internal and external. Our research highlights the importance of emigration by controlling shareholders in long-term corporate development and offers policy implications for policymakers and investors in emerging markets.

教师简介：

俞琳，诺丁汉大学金融学博士，浙江财经大学国际会计系教师。主要研究领域为企业创新、社会资本、公司治理、行为金融。目前已在Pacific-Basin Finance Journal、International Review of Economics & Finance、The North American Journal of Economics and Finance等国际知名期刊发表论文多篇，主持教育部课题和省厅级课题多项，担任China Economic Review等多本国际知名期刊的匿名审稿人。