基地研究员何恭政副教授与合作者（Huang-Ping Yen, School of Economics and Management, Sanming University; Canyi Lu, Discipline of Digital Finance, College of Management, Yuan Ze University; Shih-Cheng Lee, Discipline of Digital Finance, College of Management, Yuan Ze University）的论文 "Does information disclosure and transparency ranking system prevent the default risk of a firm?" 在重要学术期刊Economic Analysis and Policy在线发表。

        Abstract:

       A non-financial information disclosure help prevents the default risk of firms. In addition to this point, the channels through the intermediate transmitting process may influence a firm’s default risk. Therefore, we use the regression method and examine listed companies that traded in the Taiwan stock market from 2005 to 2014. The results show that information disclosure significantly negatively affects default risk. Moreover, information transparency can ultimately impact a firm’s default risk via intermediate transmitting channels after considering endogeneity and checking robustness. Our findings suggest constructing full transparency of the information disclosure system will enhance market operations. Particularly, incorporating the laws into regularized information disclosure will improve efficient management and monitoring in the future.

 Keywords：Information disclosure; Default risk; Market reaction; Investor attention; Stock liquidity

 链接：https://doi.org/10.1016/j.eap.2023.04.028

教师简介

何恭政，男，台湾元智大学博士，金融学硕士生导师，金融工程学硕士生导师。主要研究方向为公司金融、信用风险管理、企业社会责任、信息不对称风险与跨交叉学科研究，在Asia-Pacific Journal of Accounting & Economics, Corporate   Governance: An International Review, Emerging Markets Review, Energy   Economics, International Review of Economics & Finance, International   Review of Financial Analysis, Journal of Accounting, Auditing and Finance,   Journal of Business Research, Journal of Corporate Finance, Journal of   Forecasting, Pacific-Baisn Finance Journal, Review of Quantitative Finance   and Accounting等国际SSCI期刊发表40多篇，其中包含ABS商学院4星级期刊1篇，三星级期刊12篇，SSCI一区期刊17篇。此外，在国内外数十场重要学术会议进行论文宣讲，包含中国金融年会、中国金融工程年会、中国管理学年会、CICF, American Accounting Association, Asian Finance Association, European Finance Association, Europe Financial Management Association, Financial Management Association, Taiwan Management Institute, Western Economic Association International等。此外，为国内外二十多家期刊进行审稿，包含Asia Pacific Journal of Management, Corporate Governance: An International Review, Economic Modelling, Emerging Markets Finance and Trade, Financial Innovation, Investment Analysts Journal, International Journal of   Emerging Markets, International Review of Economics and Finance, Managerial   and Decision Economics等。