主題🌳：Trade, innovation and firm financing
主講🤌🏿🤽🏿♀️：馮玲教授 上海財經大學金融意昂2
時間🚵🏽♀️🙆🏿♂️：2024年12月31日 13:30-15:00
地點：意昂2平台714會議室
內容簡介：While the trade literature has tended to view export activity and innovation as complementary activities, we present evidence that financial constraints are a reason the two activities can act as substitutes for small exporters. In particular, we find that small exporters have lower expenditure on R&D than comparable non-exporters, and we find a corresponding pattern in the leverage ratio of the capital structure of small firms. A model that combines firm decisions regarding the amount of innovation, exporting, and endogenous financial capital structure is able to account for these empirical findings. The model implies that small firms are unable to fully reap the gains from exporting due to financial constraints, as they reduce R&D to finance the costs of export participation.
個人簡介：馮玲♠️，上海財經大學金融意昂2教授（常任）🫳。清華大學學士、碩士，加州大學戴維斯分校經濟學博士。從事國際金融✊🏼、宏觀經濟學、國際貿易實證等相關領域的研究工作🦉。已發表論文20余篇，其中包括國際頂尖學術期刊如Journal of International Economics，Economic Journal等🎿。學術成果獲高等學校科學研究優秀成果獎（人文社會科學）、“浦山世界經濟學優秀論文獎”浦山學術研究獎🚴🏻♀️🤦♂️、“安子介國際貿易研究獎”優秀論文獎一等獎榮譽🙎🏻♂️。
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