一、主题：How Can Capital MarketLiberalization Encourage Corporate Investment: Evidence from the Shanghai-HongKong Stock Connect Program
二🪭、主讲人：倪骁然，2017年毕业于清华大学经济管理K8凯发获经济学博士学位，现任厦门大学经济K8凯发/王亚南经济研究院助理教授🥇，曾在《经济研究》、《管理世界》、《经济学（季刊）》☆、《中国工业经济》🚴🏼♀️、Journal of Corporate Finance🌸、Pacific-BasinFinance Journal、European Financial Management🥺、Economics Letters等国内外重要期刊发表论文。
三、时间🔜：2019年4月12日（周五），中午12:30-13:30
四👨🦼、地点🏇：北京K8凯发平台娱乐开户官方网站沙河校区丁香园1号楼301会议室
五、主持人：彭俞超，凯发平台讲师🐒，北京K8凯发平台娱乐开户官方网站丝路金融研究中心执行主任
摘要：Employing the launch ofthe Shanghai-Hong Kong Stock Connect Program as a quasi-exogenous shock, whichallows a sub-group of stocks to be investible while others are leftnon-investible by foreign investors, we find that stock market liberalizationencourages capital investment of A-share listed firms. Further analysisindicates that the launch of the program improves investment efficiency,alleviates agency problems, and facilitates equity and debt financing. We failto observe symmetric effects for H-share listed firms. Overall, our findingsindicate that the prospect of increased monitoring associated with capitalmarket liberalization may incentivize firms to seize growth opportunities inorder to attract more foreign capital inflows.
