第622期岭南学术论坛（金融学系列Seminar）

报告题目：跨境并购与董事会性别多样化（Cross-border M&A and Board Gender Diversity）

报  告 人：包洋鸣（首都经济贸易大学国际经济管理学院  助理教授）

主  持 人：陆迪（中山大学岭南学院  助理教授）

时       间：2022年9月23日（周五）下午14:30

地       点：岭南堂三楼讲学厅（腾讯会议号：219-189-043，密码：123123）

语       言：中文+英文

Abstract:

This paper investigates the impact of cross-border M&A on corporate board gender diversity, with a particular focus on the role of the target countries' gender-equal culture. Using the first-difference estimation based on Chinese listed firms from 2008 to 2019, we find that acquiring targets in countries with more gender-equal views is associated with higher board female ratios. These results stand when a wide range of country characteristics as well as alternative measures of gender equality are considered. To alleviate the potential selection bias concerns, we utilize the Propensity Score Matching techniques and a two-stage treatment effect model that considers exogenous factors of destination choice, including direct flights and industry comparative advantages. Finally, we find that firms investing in more gender-equal countries tend to improve financial performance and innovation following the cross-border M&A, especially for those increase board female representation, indicating synergy gains of such adjustment.

报告人介绍：

       包洋鸣，首都经济贸易大学国际经济管理学院助理教授，2019年于德国法兰克福大学获得金融学博士学位。其主要研究兴趣为公司金融和金融中介，研究项目涉及银行借贷、绿色创新融资、跨国并购、中国债务问题等，已有研究发表在公司金融领域英文顶级学术期刊《Journal of Corporate Finance》。

        欢迎感兴趣的师生参加！

        中山大学岭南学术论坛分经济学和金融学两大系列，是定期邀请国内外优秀学者前来开展学术交流的平台。每系列每个月定期举办2-3次。目前已经成功举办多期，并得到了各界的高度评价。