题目：Living through the Great Chinese Famine: Early-Life Experiences and Managerial Decisions
报告人：冯旭南,西南财经大学金融学院
时间：2017年3月10日下午1: 00 -3: 00
地点：博萃楼4楼阳光房
Previous studies have linked personal characteristics of business leaders to corporate decisions. We analyze if the traumatic experience of the Chinese Famine had an impact on managerial decisions. Having lived through the famine is associated with more conservative financial, investment, and cash holding policies, a lower likelihood of unethical behavior, and better firm performance during economic downturns. By exploiting the exogenous variation in local severity of the famine, we establish a causal relationship between early-life experiences and corporate policies. Our findings thus provide evidence that momentous personal experiences can have important causal effects on managerial decisions.
报告人简介
冯旭南，西南财经大学金融学院（常任轨）教授、博士生导师，2009年获得北京大学金融学博士学位，已在Journal of Banking and Finance、Journal of Comparative Economics、Cambridge Journal of Economics、Journal of Business Ethics等国际SSCI期刊发表论文10篇，在国内期刊《管理世界》、《经济学（季刊）》、《金融研究》等杂志发表论文数十篇；主持完成国家自然科学基金青年项目“基于注意力的投资者行为分析：来自中国的证据和启示”，目前正在主持国家自然科学基金面上项目“卖空机制、价格发现与市场质量：中国证据和启示”。
代表性论文
[1] Anders C. Johansson and Xunan Feng (corresponding author), 2016, “The State Advances, the Private Sector Retreats: Firm Effects of China’s Great Stimulus Program”, forthcoming, Cambridge Journal of Economics40, 1635-1668. Oxford University Press.
[2] Xunan Feng and Anders C. Johansson, 2016, “Underpaid and Corrupt Executives in China's State Sector”, forthcoming, Journal of Business Ethics. doi: 10.1007/s10551-016-3190-y. Springer.
[3] Xunan Feng and Anders C. Johansson, 2016, “CEO Incentives in Chinese State controlled
Firms”, Economic Development and Cultural Change65. 223-264.University of Chicago Press.
[4] Xunan Feng and Kam C. Chan,2016, “Information Advantage, Short Sales, and Stock Returns: Evidence from Recent Short Selling Deregulation in China”, Economic Modelling59, 131-142. Elsevier.
[5] Xunan Feng, Na Hu and Anders C. Johansson, 2016, “Ownership, Analyst Coverage and Stock Synchronicity in China”, International Review of Financial Analysis45,79-96. Elsevier.
[6] Xunan Feng, Anders C. Johansson and Tianyu Zhang, 2015, “Mixing Business with Politics: Political Participation by Entrepreneurs in China”, Journal of Banking and Finance59, 220-235. Elsevier.
[7] Xunan Feng and Anders C. Johansson, 2015, “Can Mutual Funds Pick Stocks in China? Evidence from the IPO Market”, Journal of Banking and Finance55, 170-186. Elsevier.
[8] Xunan Feng, Anders C. Johansson and Tianyu Zhang, 2014, “Political Participation and Entrepreneurial Initial Public Offerings in China”, Journal of ComparativeEconomics42, 269-285. Elsevier.
[9] Xunan Feng and Anders C. Johansson, 2014, “Escaping Political Extraction: Political Participation, Institutions, and Cash Holdings in China”, China EconomicReview30, 98-112. Elsevier.
[10] Xunan Feng, Mingshan Zhou and Kam C. Chan, 2014, “Smart Money or Dumb Money? A Study on the Selection Ability of Mutual Fund Investors in China”, NorthAmerican Journal of Economics and Finance 30, 154-170. Elsevier.
[11]冯旭南，2016，“注意力影响投资者的股票交易行为吗？来自“股票交易龙虎榜”的证据”，《经济学（季刊）》，16 卷第1 期，第255-274 页。（CSSCI 中文期刊）
[12]冯旭南，2014，“中国投资者具有信息获取能力吗？来自“业绩预告”效应的证据”，《经济学（季刊）》， 13 卷第3 期，第1065-1090 页。（CSSCI 中文期刊）
[13]冯旭南，李心愉，2013，“参与成本、资金流量与投资者选择”，《管理世界》，第4期，第48-58 页。（CSSCI 中文期刊）
[14]冯旭南，2012，“负债融资与掠夺：来自我国家族上市公司的证据”，《经济学（季刊）》第11 卷第3 期，第953-968 页。（CSSCI 中文期刊）
[15]冯旭南，陈工孟，2011，“什么样的上市公司更容易出现信息披露违规?—来自中国的证据和启示”，《财贸经济》第8 期，第51-58 页。（CSSCI 中文期刊）
