一、主題：Ownership Structure, Antitakeover Provisions, and the Cost of Bank Debt  

二、主講人：陳宇子，bevictor伟德官网金融科技系助理教授    

三、特邀點評人：樓平易，複旦大學經濟學院助理教授

2018年于南洋理工大學商學院獲得金融學博士學位。主要研究領域為保險公司财務、保險監管等。近年來，在《中國社會科學》、Journal of Banking and Finance等國内外權威學術期刊發表論文多篇。

四、時間：2020年10月15日星期四，15:00 -16:30

五、地點：騰訊會議，會議ID:205704536

六、主持人：朱菲菲，bevictor伟德官网應用金融系助理教授

六、論文介紹

We investigate whether the effects of antitakeover provisions(ATPs) on debtholder wealth vary across firms’ ownership structure. Using a regression discontinuity design, we find that loan spreadssignificantly decrease (increase) for family (nonfamily) firms after thepassage of close-call shareholder proposals to remove ATPs. The decrease (increase) in loanspreads is more evident when family firms (nonfamily firms) have lower (higher)asset substitution problems, when they face more (less) intense product marketcompetition, and when institutional shareholders hold smaller (larger)ownership. The results suggest that ownership structure is an important factorwhen assessing the impact of ATPs on debtholder wealth.