金融与财务学系系列讲座之288期

时间：2023年10月13日（周五）13:30-15:00

地点：史带楼302室

主题：Shaping green reputation：Sibling competition and firm pollution

演讲者：Nianhang Xu (许年行) 教授, 中国人民大学

摘要：We examine the impact of sibling competition in a chairperson’s family on the environmental performance of a family firm. The findings suggest that when a firm has a sibling-chairperson, the firm has a lower level of sulfur dioxide emissions than a firm with a no-sibling chairperson. The conclusions are robust to a regression discontinuity research design and other robustness checks. Additional analysis suggests that the mechanisms behind siblings and environmental performance are consistent with a chairperson’s desire to shape a better green image due to sibling competition, especially during family firm succession, having sibling co-management, or siblings’ overseas experience are from high environmental performance countries. Further analysis shows that the impact of a sibling-chairperson on the lowered emission of firms is more salient when the strength of monitoring and regulatory enforcement is weak. We also document that a sibling-chairperson is more likely to adopt proactive environmental strategies such as increasing abatement efforts and improving green innovation, than a no-sibling chairperson. Our study sheds light on how the internal competition from family structure contributes to better sustainable environment and how it and external environmental regulation are partial substitutes.

简介：许年行，现任中国人民大学商学院财务与金融系主任，教授、博士生导师。主要研究方向是公司财务与资本市场，及其与生态环境、行为心理、社会文化等领域的交叉研究。先后获得国家自然科学基金“杰出青年科学基金项目”、“优秀青年科学基金项目”和“原创探索计划项目”、全国优秀博士学位论文，入选国家级青年人才计划和中组部首批“青年拔尖人才”（国家“万人计划”），荣获首届“卓越青年研究生导师奖励基金”。已在本领域国内外一流期刊JFE、MS、CAR、RF、《经济研究》、《管理世界》、《管理科学学报》等发表论文40余篇。入选2020、2021、2022年“爱思唯尔中国高被引学者”。学术成果先后获得中国高校人文社会科学研究优秀成果一等奖和三等奖、中国金融学年会、CICF、TCFA等国内外学术会议优秀论文奖。