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【第260期双周学术论坛】高磊

作者:     日期:2018-12-04    来源:

  一、主题:Are Female Executives Better Innovators?

  二、主讲人:高磊,爱荷华州立大学Ivy商学院金融学助理教授。乔治亚大学金融博士毕业。主要研究领域:金融市场、微观结构、资产回报预测、实证公司财务、公司监管、企业文化、文本分析和机器学习等。高磊教授的研究成果发表在Journal of Financial Economics、Journal of Corporate Finance、美国科学院会刊(PNAS)等国外金融界高水平期刊上。

  三、时间:2018年11月20日(周二),10:30-12:00

  四、地点:沙河校区主教208

  五、主持人:朱一峰,中央财经大学金融学院讲师

  六、项目支持:本项目由“中央财经大学国际合作处引智项目”支持

  

  Abstract: We find that firms with female executives tend to obtain more patents and citations for given R&D expenditures. A female executive is associated with approximately 50% and 45% standard deviation more patents and citations. Investigating the underlying mechanisms, we find that the positive association between female executives and corporate innovation is weaker when institutional ownership is higher and when the number of analyst following is more, consistent with the conjecture that female executives are more careful and effective in companies’ R&D policy making, particularly in the absence of external monitoring. We are not arguing that females are in general more innovative, instead, it does seem that the female executives are more capable of helping the company to become more innovative because of stricter hiring standards.