講座題目：Can Infrastructural Development Help Promote Financial Efficiency?

主講人：龍小寧（廈門大學）

講座時間：2019年5月29日周三下午3:00-4:30

講座地點：中央財經(jīng)大學學院南路校區(qū)主教702會議室

主講人簡介：龍小寧：廈門大學王亞南經(jīng)濟研究院和經(jīng)濟學院教授、博導，經(jīng)濟學系主任，國務(wù)院學科評議組成員，百千萬工程人才國家級入選者，福建省“百人計劃”和福建省“高校領(lǐng)軍人才計劃”入選者，張培剛發(fā)展經(jīng)濟學優(yōu)秀成果獎獲得者，斯坦福大學胡佛研究院Glenn Campbell and Rita Ricardo-Campbell 國家獎金獲得者，China Economic Review 以及《中國經(jīng)濟問題》聯(lián)合主編。美國華盛頓大學（圣路易斯）經(jīng)濟學博士學位，2001-2011年于美國柯蓋德大學任教并獲終身教職。龍教授運用法經(jīng)濟學實證方法，開創(chuàng)性研究中國外貿(mào)外資、企業(yè)發(fā)展、經(jīng)濟增長與制度安排之間相互影響等問題，成果發(fā)表于Journal of Law and Economics、Journal of Public Economics、Journal of International Economics、 Journal of Comparative Economics等國際學術(shù)期刊，以及《經(jīng)濟研究》、《經(jīng)濟學(季刊)》、《管理世界》、《世界經(jīng)濟》等國內(nèi)刊物，并合著英文論著Foreign Direct Investment in China: Winners and Losers。

摘要：This paper studies the impact of HSR (high-speed rail) connection on venture capital investment and explores the specific mechanisms for such effects. We provide theoretical predictions and empirical evidence that high-speed rail development has significantly increased venture capital investment in China, and that both selection and monitoring channels have been indispensable. To the extent that equity financing has not yet fulfilled its function, HSR connection has thus helped improve financial efficiency in China. However, the heterogeneity in HSR's impact on VC investment quality points to the importance of monitoring abilities of VC firms. Thus, our study not only helps shed light on how infrastructural development affects the efficiency of a country's financial system, it also highlights the importance of market participant vitality.

本次講座是中央財經(jīng)大學“龍馬奮進·校慶70周年學術(shù)系列講座”的組成部分，獲得了2019年中央財經(jīng)大學專題學術(shù)講座項目資助。