（上海立信會計EON4講座）
主題👩🏽💼：STAKEHOLDER-BASED BARRIERS TO NEW ENTREPRENEURIAL ENTRY:
AN EMPIRICAL TEST
報告人：張周
時間：2019年6月27日周四上午10:30至12:00
地點🧑🏿✈️：松江校區序倫大樓804會議室
報告人簡介🧘🏻♀️：
張周，特許金融分析師（CFA）🤶🏻，現為加拿大裏賈納大學終身副教授。主要研究領域為融資成本👨🏽⚕️🤴🏿、審計以及內部控製等資本市場中的會計和財務問題🧚🏼♂️。已經在《Journal of Corporate Finance》、《Journal of Business Finance and Accounting》等JCR/SSCI國際頂級期刊發表論文8篇。受邀為《Journal of Corporate Finance》,《European Journal of Finance》,《Journal of Empirical Finance》,《Pacific-Basin Finance Journal》等期刊的匿名評審人。
報告內容簡介：
While many studies have found that stakeholder management performance is positively associated with firm performance, none have examined its effect on barriers to new entry. We argue that incumbencies with stakeholder-based competitive advantage possess barriers to new entry thus limiting entrepreneurial entry and the threat of future competition. Using the Kinder, Lydenberg, and Domini (KLD) Index, Compustat, and Kauffman’s Entrepreneurship Survey covering 2003-2013, we find that incumbent stakeholder management performance has a U-shaped relationship with new entry, where very low and very high stakeholder management performance are associated with higher rates of entrepreneurial entry. This implies that stakeholder management in moderation may be the key to preventing new entry. We also find that industries that concentrate on too few stakeholders have more entries, suggesting that there are both firm level and industry level mechanism at play.
歡迎廣大師生積極參加🧑🏼✈️！
會計EON4
2019年6月11日