主題：International Trade and the Propagation of Merger
Waves（國際貿易和并購浪潮的傳播）
主講人：Jarrad Harford, 華盛頓大學邁克爾福斯特商學院金融學教授
日期：2018年5月23日（周三）
時間：上午10:00 - 11:30
地點：清華Betvictor中文版4号樓101教室
語言：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.
主講人簡介:
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.
