Time/时间：2022.10. 14 15:00 – 16:30
Topic/题目：Anti-Corruption Reform, Board of Directors, and Agency Costs: Evidence from China
Venue/地点：Room 501, Jiageng Building 2/嘉庚二号楼501教室
Online Conference ID/腾讯会议号：：690-386-215
Speaker/报告人：苏泽锴
Facilitator/主持人: 屈文洲
Abstract/摘要：A sample of Chinese listed state-owned enterprises (SOEs) from 2009 to 2016, this study tests the impact of anti-corruption reform implemented in China on firms’ agency costs over the observed years. We find that the enforcement of anti-corruption reform can reduce the managerial on-job consumption, improve asset utilization efficiency, and restrict the over-investment of Chinese SOEs. Our results further show that the enforcement of anti-corruption reform can affect board diligence by improving independent directors’ attendance, to reduce managers’ on-job consumption and improve asset utilization efficiency. However, the impact of anti-corruption reform in mitigating over-investment among Chinese SOEs is not influenced by the board of directors.
About the Speaker/报告人简介：苏泽锴2018年毕业于北京理工大学，2020年获得Zarb商学院财务系硕士学位，现为厦门大学财务管理与会计研究院博士生。他拥有丰富的行业经验，曾担任多家公司的投资顾问，同时也是私募股权基金经理。他的研究主要集中在资本市场，包括投资者情绪分析、跨市场联动性和定量分析。