主题：《机构投资者共同持股与成长机会之公司融资》

　　时间：2017年10月26日上午9：30-11：00

　　地点： B251

　　主讲人：李青原

　　主办单位：武汉大学经管学院会计系、MPAcc中心和财务会计研究所

　　讲座摘要：We examine how institutional cross-ownership affects corporate financing. We find that firms cross-held by institutional investors are able to obtain more financing in face of investment opportunities. We further show that the effect of institutional cross-ownership is stronger when firms face greater product market competition and when firms have more opaque public information.

　　The findings suggest institutional cross-ownership enhances corporate financing through improving product market coordination and monitoring by shareholders. Our paper extends the nascent institutional cross-ownership literature and sheds new insights on how the nature of the existing ownership structure of the firm can affect financing outcomes.

　　主讲人简介：武汉大学会计系教授，研究方向是资本市场会计、公司财务与税收