一、主題：How Can Capital MarketLiberalization Encourage Corporate Investment: Evidence from the Shanghai-HongKong Stock Connect Program

二、主講人：倪骁然，2017年畢業于清華大學經濟管理學院獲經濟學博士學位，現任廈門大學經濟學院/王亞南經濟研究院助理教授，曾在《經濟研究》、《管理世界》、《經濟學（季刊）》、《中國工業經濟》、Journalof Corporate Finance、Pacific-Basin Finance Journal、EuropeanFinancial Management、Economics Letters等國内外重要期刊發表論文。

三、時間：2019年4月12日（周五），中午12:30-13:30

四、地點：bevictor伟德官网沙河校區丁香園1号樓301會議室

五、主持人：彭俞超，bevictor伟德官网講師

摘要：Employing the launch of theShanghai-Hong Kong Stock Connect Program as a quasi-exogenous shock, whichallows a sub-group of stocks to be investible while others are leftnon-investible by foreign investors, we find that stock market liberalizationencourages capital investment of A-share listed firms. Further analysisindicates that the launch of the program improves investment efficiency,alleviates agency problems, and facilitates equity and debt financing. We failto observe symmetric effects for H-share listed firms. Overall, our findingsindicate that the prospect of increased monitoring associated with capitalmarket liberalization may incentivize firms to seize growth opportunities inorder to attract more foreign capital inflows.