報(bào)告人：王素
時(shí)間：2022年12月16日 上午10:00
騰訊會議號：433 733 727
會議密碼：258963
【報(bào)告人簡介】
王素，金融學(xué)博士，畢業(yè)于倫敦政治經(jīng)濟(jì)學(xué)院，目前任教于上?？萍即髮W(xué)創(chuàng)業(yè)管理學(xué)院，擔(dān)任助理教授。2019-2022在荷蘭阿姆斯特丹商學(xué)院任金融學(xué)助理教授。主要研究方向?yàn)閯?chuàng)業(yè)融資、創(chuàng)業(yè)創(chuàng)新、公司金融和家庭金融。其有關(guān)風(fēng)險(xiǎn)投資對創(chuàng)新企業(yè)增值作用的研究以及經(jīng)濟(jì)危機(jī)下中小企業(yè)擔(dān)保貸款的研究曾相繼獲2020年度和2022年度金融管理年會（Financial Management Association, FMA）Best Paper Award Semi-finalist，同時(shí)也擔(dān)任Journal of Finance; Management Science; Journal of Banking and Finance等多份學(xué)術(shù)期刊的審稿人。
【內(nèi)容摘要】
We estimate the real effects of UK guarantees introduced during 2009 by exploiting firm-size eligibility restrictions and rich administrative data. Relative to matched non-eligible firms, eligible businesses had higher 5-year debt and performance, yet similar repayment and interest rates. Employment, wages, and productivity also increased, yet there was no impact on pledgeable asset investment, even for capital-dependent firms. The evidence suggests that the guarantees relaxed credit constraints by enabling firms to access loans they could not obtain otherwise at any rate, especially for financing workers. We find no evidence supporting other mechanisms like debt-cost decreases, changes in incentives, or externalities.
【主持人簡介】
方紅艷，金融學(xué)博士，上海對外經(jīng)貿(mào)大學(xué)金融管理學(xué)院副教授，博士生導(dǎo)師，主要從事公司金融領(lǐng)域?qū)嵶C研究。在Journal of Banking and Finance, Economic Modelling, Applied Economics和《金融研究》等中外學(xué)術(shù)期刊相繼發(fā)表論文十余篇。
