时间：4月21日下午14：30-16：00

地点：主楼317

报告人：中国人民大学 袁蓉丽教授

报告人简介：

中国人民大学商学院教授、博士生导师、财政部全国会计领军人才。主要研究领域包括公司财务、公司治理。已在Journal of Banking & Finance、Journal of Corporate Finance 、Journal of Business Finance & Accounting、《管理世界》等国际国内核心期刊发表论文四十余篇，中国人民大学商学院教学杰出教授，主讲的《会计学》课程获评北京高校“优质本科课程”，是第十三届“全国百篇优秀管理案例”获得者。

报告内容简介：

We examine China’s July 2020 introduction of US style securities class action lawsuits (SCA). Unlike US evidence, Chinese stock prices respond positively to SCA introduction. This is consistent with a placebo test that finds insignificant responses for cross-listed stocks already subject to US SCA. Price reactions to temporary SCA rules suggest that discouraging frivolous lawsuits is beneficial. Effects are stronger for firms more exposed to SCA, particularly with poor disclosure or governance, state ownership, political connections, no D&O insurance, or less innovation. Firms react to SCA by initiating D&O insurance, selecting more reputable auditors, and improving internal controls and financial reporting. Thus, the threat of SCA risk appears to benefit shareholders.

（承办：会计系、科研与学术交流中心）