讲座主题：CEO’s Expertise from Related Industries and Firm Performance

报告人：Leng Ling, Professor of Finance, Georgia College & State University

时间：2019年 12月 17 日（周二）上午 10：00 ～ 11：30

地点：经济学院4036多媒体会议室

报告主要内容：

Using manually collected data of companies listed in Chinese stock markets for the period of 2007--2015, we study the influence of top managers’ past work experience on firm performance. The results indicate that manager’s expertise from related industries significantly improves operating performance as measured by return on assets and Tobin’s q. Exploring the channels through which managers’ expertise may benefit firms, we show that the expertise from upstream industries contributes to greater trade credit provided by the suppliers while the expertise from downstream industries contributes to less trade credits offered to the customers. Furthermore, managers’ expertise from related industry contributes to lower operating expenses, higher market shares, and higher efficiency in merger and acquisition.。

报告人简介：

Leng Ling博士，美国Georgia College & State University金融学终身教授。研究领域有共同基金，公司金融, 行为金融（经济）等。1995年获武汉大学经济学学士 (国际金融)学位，2002年获美国Georgia State University工商管理硕士(金融学) 学位，2008年获Georgia State University博士(金融学) 学位。所著论文发表在The Review of Financial Studies, Accounting and Finance, Journal of Economic Behavior & Organization, Journal of Financial Markets, The Quarterly Review of Economics and Finance, Finance Research Letters 等国外学术期刊。