题目：Does communication matter? The influence of Q & A in site visit on corporate innovation

主讲人：王玉涛中国人民大学商学院会计系教授

时间：2019年12月25日下午15:30-17:00

地点：中央财经大学（学院南路）主教楼615

论坛摘要：

This paper studies whether and how communication between investors and managers impacts corporate innovation by using a unique dataset of Q & A contents of site visits to listed firms in China. Identifying directly investors’ monitoring activities on corporate innovation through recognizing Q & A concerning innovation from visiting contents between investors and corporate, which is difficult and indirect for prior literature, this paper finds that: Firstly, Q & A about innovation in site visits push managers focus more on corporate innovation. Specifically, the more frequent Q & A about innovation in site visits are, the higher the improvement of corporate R&D investment will be afterwards. Secondly, the effects of Q & A about innovation on corporate innovation activities are more pronounced when mutual funds incorporate in the site visits than when other investors incorporate. Third, the effects are also more pronounced when manager talk about innovation in answering the investors’ question than they didn’t do. Forth, the effects are higher in the firms with dual role of manager, higher turnover, and less financial constraints. Overall, our study extents the literature by identifying Q & A about innovation in site visit as investor activities and the communication between outer stakeholders and inner managers, and presenting the direct evidence on how the activities affect corporate innovation.

主讲人介绍：

王玉涛，中国人民大学商学院教授、博士生导师。清华大学管理学博士，香港中文大学会计学博士后，美国德克萨斯州立大学、香港大学、香港中文大学访问学者，中国注册会计师、中国资产评估师。其研究成果先后发表在会计学顶级期刊Review of Accounting Studies（RAST）与Contemporary Accounting Research（CAR）上，并在China Accounting and Finance Review（CAFR）、China Journal of Accounting Research（CJAR）、《金融研究》、《会计研究》、《中国会计评论》、《审计研究》、《中国工业经济》等国内外学术期刊发表论文30余篇。主持国家自然基金两项、教育部基金一项、香港政府General Research Fund一项、中国人民大学科学研究基金一项、中央财经大学青年科研创新团队项目和中央财经大学教学方法研究项目一项；另外，参加国家自然基金项四项、国社科项目两项（一项为重点项目）、教育部项目三项、中央财经大学教育教学课题一项。获得财政部全国会计高端学术（后备）人才，中国人民大学“杰出青年学者”等称号。