时间：2019年4月18日下午15点40分
地点：九里校区零号楼0629室
主题：个人破产法与公司决策
主讲人：林楚彬，现任英国威廉希尔唯一官网金融与财务学系讲师，硕导。研究方向：资产定价、行为财务学和公司金融。研究工作发表在金融学国际重要学术期刊Journal of Banking & Finance，Journal of Empirical Finance，担任国际学术期刊审稿人。
摘要：This paper examines the effects of personal bankruptcy laws on corporate policies. Following a regulation reform that limits individuals’ access to bankruptcy protection, firms that are more affected by this regulation reform increase labor costs, reduce investment, engage in less risk taking, and earn lower abnormal returns. Furthermore, firms in industries characterized by a high unemployment risk reduce leverage. Our results support the view that firms choose more conservative policies to mitigate employees’ expected welfare losses.
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