商学资讯 | 一周学术讲座预告 2024.11.11-11.17

【报告人】

程新生

（南开大学商学院会计系教授）

【主持人】

王艳艳

（厦门大学管理学院财务学系教授）

【时间】

11月11日（星期一）15:00-16:30

【地点】

嘉庚一409

【报告摘要】

如何开展高质量的学术研究是广大科研人员面临的重要课题。本次讲座主要分为三大部分，首先，从选题和文献回顾、学术价值和创新点、研究命题、研究方法与设计、因果关系、工具变量/中介变量、表述与证据等七个方面深入分析学术研究中常见的问题。其次，从研究的问题、对研究问题的回答、研究证据、研究实践意义及研究的前期积累等五个方面分享评价研究质量的标准。最后，对南开管理评论进行详细介绍。

【报告人简介】

程新生，南开大学商学院会计系教授，担任《南开管理评论》常务副主编；Nankai Business Review International副主编；教育部人文社科重点研究基地“南开大学公司治理研究中心”－公司治理评价研究室主任。曾在《管理世界》《会计研究》《金融研究》等学术期刊发表学术论文40余篇；出版《公司治理与战略控制》等著作五部。

【报告人】

徐宁  

（香港中文大学商学院教授）

【主持人】

陈继光 

（厦门大学管理学院管理科学系副教授）

【时间】

11月12日（星期二）15:00-16:10

【地点】

南强二105

【报告摘要】

Borrowing base covenants (BBC) are commonly used in inventory-based financing (IBF) in practice to protect a lender against the potential market value erosion in collateralized inventory. This paper studies the effects of BBC in IBF by considering a supply chain in which a supplier sells a key material to a cash-strapped retailer, and offers an IBF facility to the retailer using purchased inventory as collateral. The price of the collateralized inventory is a random variable, which further affects the retail market of the retailer’s final product. We find that, in the presence of financing, the retailer tends to over-order the material especially when the price is expected to go down. This creates additional agency cost and therefore hurts both players’ profits. Under such price uncertainty, the utilization of BBC in IBF can mitigate the retailer’s default risk by liquidating the inventory in advance before selling to a bad retail market, which benefits the supplier. In addition, BBC can also benefit the retailer since the supplier will charge a lower interest rate due to the reduced risk, resulting in a win-win outcome. However, BBC can also jeopardize the retailer’s profit because the inventory liquidation may undermine the retailer’s ability to fulfill the future market demand especially when it’s good. Finally, when the fluctuation of the material price is not too intense, we find that BBC is able to fully eliminate the risk due to price uncertainty when the retailer is sufficiently poor.

【报告人简介】

Vernon Hsu is a Choh-Ming Li Chair Professor in the CUHK Business School, The Chinese University of Hong Kong. He had also held faculty positions at the University of New South Wales, Australia, George Mason University, USA, and Hong Kong University of Science & Technology. Professor Hsu’s research interests include operations and supply chain management. Some of his current research projects investigate the integration of international tax and financial planning with global supply chain management. His research has been published in journals such as Management Science, Manufacturing and Service Operations Management, Operations Research and Productions and Operations Management.

【报告人】

汤弘钦  

（厦门大学管理学院管理科学系博士生）

【主持人】

方斌 

（厦门大学管理学院管理科学系副教授）

【时间】

11月12日（星期二）16:30-18:00

【地点】

嘉庚一207

【报告摘要】

Lending-based crowdfunding platforms provide entrepreneurs with a medium to present their projects' visual and textual information in order to secure funding. On these platforms, the ways in which entrepreneurs employ communication strategies that integrate images and text to describe their projects, attract investors, and expedite the fundraising process merit closer examination. In this context, the present study collected data from kiva.org and applied advanced image mining and text mining techniques to identify and quantify the characteristics of image-text integration strategies (ITISs). Alongside other entrepreneur-controllable variables, a series of tree-based machine learning algorithms were utilized to develop a comparative and accurate model for predicting the financing speed of crowdfunding projects. Additionally, to ascertain which ITISs effectively enhance financing speed, an explanatory analysis of ITIS features was performed using Information Processing Theory (IPT) and interpretable machine learning methods based on Ordinary Least Squares (OLS) and SHAP values. The key findings are as follows: (1) Different ITIS features exert varying degrees of influence on financing speed, with image-related features proving more crucial than text-related features, and content-related features holding greater importance compared to other feature types. (2) The specific effects of individual features on financing speed vary. For example, image content richness, image sentiment, image-text consistency, and text sentiment generally have positive impacts, while image aesthetic value, text content richness, and text readability may have negative effects. These findings provide entrepreneurs with an accurate predictive model for financing speed and offer valuable guidance for optimizing ITIS communication strategies to enhance project performance.

【报告人简介】

汤弘钦，现为厦门大学管理学院管理科学系2023级博士生研究生，厦门大学数据挖掘研究中心研究人员。主要研究方向为非结构化数据挖掘、数据科学与商业智能、应用多元统计分析。对企业会计、资本市场与信息系统领域的交叉研究也有探索。截至今日，汤弘钦已获第十八届“华为杯”全国研究生数学建模大赛二等奖，且在SCI、SSCI、CSSCI上发表论文4篇。目前仍有多篇文章在投。

【报告人】

谭安厚  

（香港中文大学(深圳)副教授）

【主持人】

戚树森 

（厦门大学管理学院财务学系副教授）

【时间】

11月12日（星期二）16:30-18:00

【地点】

嘉庚二208

【报告摘要】

商学院案例研究是商学院中一种重要的教学与研究方法。它通过对实际商业情境中的特定企业、事件或问题进行深入剖析，收集多方面数据并进行系统分析，旨在帮助学生理解商业理论在现实中的应用，培养学生的分析决策能力，同时也为商业理论的发展和完善提供实证依据，促进商业领域的知识积累与创新。

【报告人简介】

谭安厚教授拥有阿尔伯塔大学学士学位、北京语言大学和南京大学硕士学位、香港中文大学工商管理硕士学位以及纽约大学斯特恩商学院国际商务与金融博士学位学位。1980年，他参与创建了中国第一所商学院-中国工业科技管理大连培训中心，随后在香港从事了7年银行和咨询工作。他2003年至2013年在香港中文大学工作，并于2015年起在港中文深圳任职。

【报告人】

胡杏  

（清华大学五道口金融学院副教授）

【主持人】

戚树森 

（厦门大学管理学院财务学系副教授）

【时间】

11月13日（星期三）8:30-10:00

【地点】

嘉庚二208

【报告摘要】

This paper examines the role of investor learning in price discovery following important macroeconomic announcements. Using unscheduled macroeconomic news released outside regular Chinese stock market hours, we analyze how investors’ overnight learning, in the absence of trading, affects price discovery. Our findings show that overnight learning helps level the information playing field among heterogeneous investors, leading to more efficient price discovery and reduced information asymmetry at market opening. Retail investors benefit particularly from this process, evidenced by increased trading activity and reduced return reversals during the trading day compared to overnight returns.

【报告人简介】

胡杏博士现任清华大学五道口金融学院副教授。胡杏于2011年至2019年间担任香港大学金融学助理教授，2011年获得普林斯顿大学经济学博士学位。此前获得了西北大学硕士学位和中国科学技术大学计算机科学学士学位。胡杏的研究领域主要包括实证资产定价，重点关注资产流动性、市场有效性、信贷风险、以及金融危机。她在Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Annual Review of Financial Economics, and International Review of Finance 等一流学术期刊上发表过多篇论文。

【报告人】

刘雨菲  

（厦门大学管理学院会计学系博士生）

【主持人】

张国清 

（厦门大学管理学院会计学系教授）

【时间】

11月15 日（星期五）15:00-17:30

【地点】

嘉庚二205

【报告摘要】

The rise of remote work arrangement has presented a significant challenge for managers in monitoring and evaluating employee outside of the traditional workplace. This study explores the impact of remote performance monitoring, a form of behavior control, on task performance among remote employees engaged in various types of tasks. We conduct a between-subject experiment and reveal that remote performance monitoring exhibits both supervisory and motivational effects. These effects contribute to an enhancement in task performance by eliciting efforts from employees. This impact is particularly pronounced for employees engaged in creative tasks. These findings hold valuable implications for organizations implementing remote work policies. By understanding the impacts of remote performance monitoring on employees engaged in different tasks, managers can make informed decisions when selecting appropriate remote management controls.