线上老虎机

时间：2025.4.18 15：00-18:00

地点：东校区财经科学馆三楼317会议室

主持人：权小锋 教授

【报告一】

时间：15：00-16：30

题目：Charity or Compromise? The Impact of Auditor-Affiliated Donations on Audit Outcomes

摘要：This paper investigates the impact of auditor independence on audit outcomes by leveraging exogenous variations from audit firm mergers in China. Using a difference-in-differences approach, we estimate the causal effect of auditor-affiliated donations. Our findings indicate that auditor-affiliated donations lead to a decline in modified audit opinions, an increase in discretionary accruals, and a decrease in audit fees. Further analysis indicates that the decline in audit quality is more pronounced when the merging audit offices are larger and the new audit colleagues hold senior position, but less pronounced when internal control at audit offices and external monitoring are stronger. This study highlights the importance of auditor independence in maintaining audit quality.

报告人简介：Gary Gang Tian教授 （麦考瑞大学）

田教授自2016年起担任澳大利亚麦考瑞大学应用金融系的金融学教授。在加入麦考瑞大学之前，他曾在伍伦贡大学和迪肯大学任教授。田教授的研究主要聚焦于公司金融与公司治理，特别关注中国资本市场。他的研究兴趣还涵盖环境、社会与治理（ESG）与商业伦理、政治关系、金融中的社会认同、首席执行官薪酬、银行贷款与非正规金融、创新以及投资效率等领域。田教授已在同行评审期刊上发表了90多篇学术论文。他近期的研究成果发表于Management Science、Journal of Financial and Quantitative Analysis、Review of Accounting Studies、Journal of Management Studies、Journal of Business Ethics等国际知名期刊。他已成功指导了25名以上的博士研究生。目前，田教授担任Accounting and Finance的副主编。

【报告二】

时间：16：30-18：00

题目：Insider Trading in Connected Firms during Trading Bans

摘要：Insiders are subjected to trading bans or close periods before earnings announcements. Directors with multiple board seats can still trade in their other firms not subject to close periods. When a close period restricts insider trading, directors leverage insider information about that firm to trade in their other firms. This is supported by positive correlations between stock market reactions in close and traded firms, which are moderated by the type of firm relationships and institutional investor presence. This newly documented informational advantage may encourage policymakers to apply the trading ban to all firms where a director holds board seats.

报告人简介：赵阳 副教授 （利物浦大学）

赵阳，利物浦大学线上老虎机 高级讲师/副教授。曾在卡迪夫大学，纽卡斯尔大学任职。研究领域涉及公司金融，公司治理，高管薪酬，兼并重组，内部交易和企业违规等。在Journal of Corporate Finance，Journal of Financial Stability，European Financial Management等国际期刊发表论文多篇。同时在British Journal of Management，Corporate governance. An International Review等期刊编委会任职，并担任Journal of Corporate Finance，Journal of Banking and Finance等国际期刊的匿名评审专家。