Time/时间：5月8日（周一） 上午10:00-11:30
Venue/地点：Room 501, Jiageng Building 2/嘉庚二号楼501教室
Topic/题目：Cross-Border Regulatory Cooperation and Firm Cross-Listing Decisions
Speaker/报告人：陈晓琦助理教授
Online Conference ID/腾讯会议号：851-156-013
Abstract/摘要：We examine whether the adoption of the Multilateral Memorandum of Understanding (MMoU), an arrangement intended to enhance cross-border cooperation among global securities regulators, affects domestic firms’ cross-listing decisions. We find that, relative to firms in non-MMoU countries, firms in MMoU signatory countries are more likely to cross list in overseas capital markets. Other evidence implies that MMoU adoption motivates firms’ cross-listing mainly through reducing their agency problems and information asymmetry. Additionally, we show that the impact of the MMoU on cross listing is more heavily concentrated in firms with stronger external financial dependence and that struggle to access their domestic market, and firms in countries with weaker capital controls. In also analyzing the real consequences of the MMoU, wee document that its adoption improves cross-listed firms’ investments and firm value. Collectively, our findings suggest that collaboration among international securities regulators improves firms’ access to foreign capital.
About the Speaker/报告人简介：陈晓琦，2020年在香港理工大学商学院获得博士学位，现任厦门大学助理教授，硕士生导师。主要从事公司信息披露、国际会计、行为金融学以及环境经济学相关研究。在Corporate Governance: An International Review、Journal of Accounting Auditing & Finance、British Accounting Review、Journal of International Accounting Research等国际知名期刊上发表十余篇。作为主持人承担了福建省社科基金青年项目,并参与国家社科重大课题，并获得Journal of International Accounting Research 2020年度最佳论文奖、Corporate Governance: An International Review 2022年度最佳论文奖。