主题：International Trade and the Propagation of Merger
Waves（国际贸易和并购浪潮的传播）
主讲人：Jarrad Harford, 华盛顿大学迈克尔福斯特商德州扑克大小
金融学教授
日期：2018年5月23日（周三）
时间：上午10:00 - 11:30
地点：德州扑克大小
金融德州扑克大小
4号楼101教室
语言：英文
摘要：
Cross-border merger activity is growing in importance. We map the global
trade network each year from 1989 to 2016 and compare it to cross-border and
domestic merger activity. Trade weighted merger activity in trading partner
countries has statistically and economically significant explanatory power for
the likelihood a given country will be in a merger wave state, both at the
cross-border and the domestic levels, even controlling for its own lagged
merger activity. The strength of trade as a channel for transmitting merger
waves varies over time and is affected by import tariffs cuts, Euro, EU, EEA,
and WTO entry. Overall, the full trade network helps our understanding of
merger waves and how merger waves propagate across borders.
主讲人简介:
Jarrad Harford is the Paul Pigott - PACCAR Professor of
Finance and Chair of the Finance and Business Economics Department at the
University of Washington’s Foster School of Business. He earned his PhD in
Finance with a minor in Organizations and Markets at the University of
Rochester. His teaching focuses on core finance and acquisition analysis.
Professor Harford currently serves as a Managing Editor
of the Journal of Financial and Quantitative Analysis and as an Associate
Editor for the Journal of Financial Economics and the Journal of Corporate
Finance. His primary research areas are mergers and acquisitions, corporate
governance and payout policy, and he has published more than 20 papers on these
topics in top finance journals. In 2017,
Pearson-Prentice Hall published the fourth edition of an undergraduate finance
textbook co-authored by Prof. Harford.
