报告题目：The Externalities of Corruption: Evidence from Entrepreneurial Firms in China

报告人：中国人民大学新普京澳门娱乐场网站 廖冠民 教授

报告时间：2019-10-24 10:30-11:30

报告地点：综合楼501会议室

报告摘要：Exploiting China’s anti-corruption campaign as an exogenous shock to corruption, we show that following a decrease in the effectiveness of corruption, the performance of firms operating in ex ante more corrupt environments improves. Small firms benefit more. We identify the channels through which corruption hampers firm performance. Following the anti-corruption campaign, the allocation of capital and labor becomes more efficient. Firms operating in ex ante more corrupt environments experience larger productivity gains, easier access to debt financing, and higher growth of sales than other firms. Overall, our results suggest that corruption creates negative externalities.

报告人简介：廖冠民，中国人民大学新普京澳门娱乐场网站会计学教授。2007年获中国人民大学会计学博士学位，2007—2018年任职于中央财经大学会计学院。主要研究兴趣为公司治理、会计信息在激励合约中的有用性，学术成果发表于《Journal of Finance》《Journal of Accounting and Economics》《Journal of Money, Credit and Banking》《会计研究》等国内外顶级学术期刊。曾获孙冶方金融创新奖、财政部全国会计领军（后备）人才、北京高等学校“青年英才计划”、北京市优秀博士论文、中国人民大学优秀博士论文、中国金融学年会优秀论文等学术奖励及荣誉，主持国家自然科学基金及教育部人文社科基金多项。