The afternoon of July 28, 2016, invited by the Department of Accounting, associate professor Tao Ma of University of South Carolina was invited to made an academic report entitled "Economic Consequences of FAS 123R: Evidence from Private Loan Contracts"in the main conference room 422. Some faculty and the entire doctoral and graduate students of accounting department participated in the seminar.

　　Professor Ma explored the economic consequences of the FAS123R implementation introduced by the U.S. FASB, and empirical evidence based on private loan contracts. To answer the question “How stock option affects the company's risk”, he used the DID method to test the change of stock options, and found significant economic consequences with the implementation of FAS123R guidelines.