时间：2017年4月20日  下午14:00-15:00

地点：邵逸夫科学馆513

题目：On the Role of Foreign Directors: New Insights from Cross-Listed Firms

主讲人：周暤雍博士  英国基尔大学

主讲人介绍：周暤雍，英国Keele大学管理学院金融学助理教授， 哥本哈根商学院经济学博士。主要研究领域为实证公司金融、家族企业金融、应用计量经济学。其研究成果已发表于《Global Finance Journal》、《Oxford Handbook of Entrepreneurial Finance》。其博士论文获得2012年欧洲财务管理学会（European Financial Management Association）最佳博士论文奖（John A. Doukas Doctoral Best Paper Award）。

内容摘要：This study examines the impact and effectiveness of U.S. independent directors on the board of cross-listed foreign firms.  About 55 percent of foreign firms appoint U.S. independent directors before they cross-list in the U.S. market.  We find that cross-listed firms with U.S. directors gain a higher increase in value through cross-listing than do firms without U.S. directors.  The impact of U.S. directors is stronger for firms from weak investor protection countries, consistent with the idea that U.S. directors are effective monitors.  We also find that foreign firms with U.S. directors are better acquirers in both domestic and cross-border M&As.