1. 喻曾（2018级博士生）：The effect of relative performance evaluation contracts on accounting conservatism
2. 宋媛媛（2016级博士生）：Does Party Organization promote corporate social responsibility investments?
王盈 万博ManBetX登录网页版 副教授
陈宇子 万博ManBetX登录网页版 助理教授
夏聪 万博ManBetX登录网页版 助理教授
五、主持人：王盈 万博ManBetX登录网页版 副教授
1. The effect of relative performance evaluation contracts on accounting conservatism
Using a sample of US firms from 2006 to 2018, we discover that using relative performance evaluation (RPE) contracts has a positive causal impact on the level of accounting conservatism (proxied by firm-year conservatism measurement C-score). To establish causal relation and avoid estimation bias from the self-selection problem, we introduce a valid firm-specific and time-variant exogenous variable Z (Similar_Firm) based on the Mahalanobis Distance calculation, and employ Heckman’s treatment effects model to control unobserved factors. Furthermore, in the heterogeneity test, we discover the demand for accounting conservatism is lower for RPE-adopted firms with characteristics of bigger size, or higher leverage ratio, or higher market-to-book ratio, or lower firm age, or low information asymmetry.
2. Does Party Organization promote corporate social responsibility investments?
We study the effect of party organization on corporate social responsibility (CSR) investments. Using about a sample of 17000 Chinese private enterprises, we find that private enterprises which set primary-level Party organization are more inclined to implement CSR investment. After setting Party organization in enterprises, we also find that the welfare of enterprises’ employees has been improved. We find no evidence that the short-term value of enterprises has been reduced.