Topic:Fund Manager Skill, Investment Constraints, and Trading Along Supply Chains

Speaker:Lin Bingxuan​​, Professor,University of Rhode Island, USA

Host:Chen Sichong​​, Professor,School of Finance, Zhongnan University of Economics and Law
Innovation & Intelligence Base for Digital Technology and Modern Finance

Time: 14:30–16:00, Thursday, April 17, 2025

Location: Room 401, South Wenquan Building

Abstract

Mutual fund managers with superior supply chain knowledge could concentrate their holdings in vertically related stocks to garner higher performance. Consistent with this hypothesis, funds with more concentrated portfolios along supply chains perform better after controlling for risk and other measures of active management and industry concentration. We further show that funds’ investment mandates act as an institutional constraint, hindering the ability to fully exploit supply chain relationships, leaving money on the table. However, the benefits of fund manager specialization serve as a counterweight to such constraints.

Speaker

Professor Lin Bingxuan currently serves as a Professor of Finance at the University of Rhode Island, USA, having earned his Ph.D. in Finance from Georgia State University, USA. His primary research areas encompass corporate mergers and acquisitions, corporate governance, information disclosure, China's capital markets, and behavioral finance. He has published more than 40 papers in prestigious academic journals worldwide, including Accounting Horizons, Journal of Corporate Finance, Journal of Accounting and Public Policy, Journal of Business & Economics Research, Journal of Financial Research, International Review of Financial Analysis, Applied Economics, Economic Research, Journal of Management Sciences in China, Journal of Financial Research, and Accounting Research. Professor Lin has held teaching positions at several renowned institutions such as Harvard University, Sun Yat-sen University, and Zhongnan University of Economics and Law. He has served as a Guest Editor for Journal of Accounting and Public Policy and European Journal of Finance, while also acting as a reviewer for numerous top-tier international journals including Applied Economics, Corporate Governance: An International Review, Journal of Economics and Finance, Journal of International Business Studies, Finance Research Letters, Financial Review, and Journal of Banking and Finance. With extensive experience in both teaching and research, Professor Lin has established significant academic influence. His distinguished achievements include receiving the Best Paper Award from Risk Management and Insurance Review (2008), the Best Paper Award at the Northeast Decision Sciences Institute Conference (2006), the Best Paper Award from Journal of Insurance Issues (2004), the Best Paper Award at the International Insurance Society Annual Meeting (2003), as well as being honored with the title of "Outstanding Professor" by multiple prestigious institutions including Sun Yat-sen University, Zhongnan University of Economics and Law, and Capital University of Economics and Business.