2016-11-22
【文澜金融论坛(第81期)】倪骁然讲座通知
本期主题:Shortsellingthreatsandfirmrisk-taking(卖空威胁与企业风险承担)内容摘要:Westudytheeffectofincreasedshortsellingthreatsonfirmrisk-taking.In2010,theChinaSecuritiesRegulatoryCommissioninitiatedapilotprogramthatgraduallyremovesshort-saleconstraints.Weexploitthisregulatorychangeasexogenousshocksandfindthatpilotfirmsundertakelessrisk.Inaddition,pilotfirmsaccumulatemorecash,takelessdebt,invest...