德勤－复旦会计论坛系列221期讲座信息
时 间：2024年4月19日（周五）下午13:30
地 点：史带楼603
题 目：Cultivating Creditors: Evidence from Bank-Experienced Director Appointments
报告人：麻志明 教授 (北京大学光华管理学院)
主持人：倪晨凯 教授
摘 要：
We investigate whether hiring independent directors with prior experience in bank borrowing helps firms receive lower-cost loans through new banking relationships. Our analyses use the appointment of bank-experienced directors to evaluate their ability to facilitate new relationship banking opportunities. The tests reveal that focal firms with newly appointed bank-experienced directors obtain lower-cost loans (12 basis points) from banks where these directors had previous relations. Contrary to director monitoring explanations, our evidence suggests borrowers choose independent directors to gain bank connections. The findings indicate that bank-experienced directors provide valuable opportunities for firms to access new external financing.
会计学系
2024-4-15
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