一、主题：International Banking Integration and Cross-border Mergers and Acquisitions
李嫦为华东师范大学经济与管理学部、上海并购金融研究院助理教授，主要研究领域为企业并购、量化历史和公司金融；在《管理世界》、China Economic Review、Journal of International Money and Finance、Economic Modelling等国内外重要期刊发表学术论文，并主持国家自然科学基金青年项目。
三、时间&地点：2021年3月18日（星期四）下午14:00-15:30；腾讯会议【741 337 725】
Abstract: This paper demonstrates that international banking integration facilitates real sector integration through information transmission and spillover regarding target countries. Country-pair analysis shows that both cross-border banking mergers and acquisitions (M&As) and loan flows stimulate cross-border non-financial M&As. This pattern is particularly striking when target countries are physically and culturally distant or have weak institutions, or for private target firms. Furthermore, firm-level evidence shows that acquiring firms are more likely to pursue targets in countries where their lending banks have already conducted M&As or extended loans, and such acquirers, particularly those facing serious information opacity, achieve better post-merger operating performances.