活動起日：2017-05-02 發佈日期：2017-05-02 瀏覽數：429 2017-05-02 更新
本系擬於 5/12 (五) 邀請江西師範大學的陳昌志教授至本所進行專題演講，相關訊息如下：
時間: 5/12 (五) 10:30-12:00
地點: 管理學院一號館 405 教室
講題: Innovation, Human Capital, and Leverage
We study the endogenous interaction among corporate leverage, innovations driven by R&D, and human cost in a unified theoretical framework. We build the model on new empirical finding that debt use hinders a firm’s acquisition of inventive human capital. The model captures several hard-to-explain leverage cross-sectional features: the debt aversion anomaly; an ambiguous leverage-wage relation; a negative leverage-growth relation; a complex leverage-competition relation; a negative leverage-R&D relation; and asymmetry in the leverage-tax sensitivity. The implications of innovation failure tolerance, of human capital risk arising from inventor mobility, and of the related risk management for leverage use are also captured.