×ðÁú¿­Ê±

³£ÓÃ

×ðÁú¿­Ê±ÈËÉú¾ÍÊDz©(ÖйúÇø)¹Ù·½ÍøÕ¾

ѧÊõÎÄ»¯

The Effect of Long-termism on Firm Value£ºEvidence from a Natural Experiment

Ðû²¼Ê±¼ä: 2025-12-11
/
µã»÷Êý:

½²×ùÎÊÌâ

The Effect of Long-termism on Firm Value£ºEvidence from a Natural Experiment

½²×ùʱ¼ä

2025Äê12ÔÂ12ÈÕ(ÖÜÎå)16:00-17:30

½²×ùËùÔÚ

×ðÁú¿­Ê±Ñ§ÔºÂ·Ð£ÇøÐÂÖ÷Â¥ A618

Ö÷½²ÈË

л ¾²

Ö÷Àíµ¥Î»

¾­¼ÃÖÎÀíѧԺ

¼ÓÈë·½·¨

Ö±½Ó¼ÓÈë¼ÓÈë

½²×ùÌáÒª

We provide causal evidence that long-termism positively impacts firm value.Leveraging the SEC¡¯s 2016 Tick Size Pilot Program as an exogenous shock that promotes long-termism, we find that firms exp-osed to the program experience an increase in valuation.

Ö÷½²È˼ò½é

л¾²ÊǰÄÃÅ´óѧ½ðÈÚѧ¸±½ÌÊÚ  ¡£ËûÓÚ2015 ÄêÖØÐÂ¼ÓÆÂ¹úÁ¢´óѧ»ñµÃ½ðÈÚѧ²©Ê¿Ñ§Î»  ¡£Ëû³ÖÓÐÏã¸Û´óѧ˶ʿѧλºÍÖйú¿Æ¼¼´óѧ¼ÆÑ§Ê¿Ñ§Î»  ¡£ËûÓÚ 2023 Äê¼ÓÈë°ÄÃÅ´óѧ,ÔÚ´Ë֮ǰ,ËûÔøÔÚ 2015 ÄêÖÁ 202Äê¼äµ£µ±Ïã¸ÛÀí¹¤´óѧ½ðÈÚѧÖúÀí½ÌÊÚ  ¡£ËûµÄÑо¿ÐËȤ°üÀ¨ÊµÖ¤ÆóÒµ½ðÈÚ¡¢ÐÐΪ½ðÈںͻú¹¹Í¶×ÊÕßÐÐΪ  ¡£ËûµÄÑо¿Ð§¹û½ÒÏþÔÚ°üÀ¨ Journal of Financial Economics,The Accounting ReviewµÈ¶¥¼âѧÊõÆÚ¿¯ÉÏ  ¡£ËûÏÖÈΡ¶Emerging Markets Review¡·(ABDC ÆÀ¼¶:A Scopus Q1)¸±Ö÷±à£¬ÑÇÖÞ½ðÈÚѧ»áÀíÊ  ¡£ÔøÎª½ðÈÚ¡¢»á¼Æ¡¢ÐÅϢϵͳµÈ¶þÊ®Óà±¾¹ú¼Ê¶¥¼¶Ñ§ÊõÆÚ¿¯µ£µ±ÄäÃûÉó¸åÈË  ¡£

»î¶¯Ê±¼ä 12ÔÂ12ÈÕ »î¶¯ÀàÐÍ ½²×ù
»î¶¯ËùÔÚ Ñ§ÔºÂ·Ð£ÇøÐÂÖ÷Â¥A618
¡¾ÍøÕ¾µØÍ¼¡¿¡¾sitemap¡¿