数字技术与经济金融前沿论坛（第27期）

摘要：

     Based on the listed Chinese A-share firms spanning 2007 to 2021, this paper finds that the US governmental sanctions have seriously deteriorated their financing constraints. It is further shown that this adverse impact is more pronounced for those firms with greater risk exposure, while the following firm traits can alleviate this impact: high market position, strong innovation and research capabilities, and effective government support policies. Moreover, this impact is shown to be mainly due to reduced corporate performance, raised financing costs, worsened corporate risks, and reduced market expectations. Various robustness and endogeneity tests confirm our main conclusions.

主讲人介绍：

      李东辉，曾在澳大利亚新南威尔士大学任终身副教授，现为深圳大学经济学院教授、博士生导师。主要研究方向是公司财务与金融，在国际学术界拥有较高影响力。学术论文发表在下列国际顶级财务与金融学期刊上：Journal of Finance，Journal of International Business Studies，Journal of Financial and Quantitative Analysis，Journal of Risk and Insurance，以及其它国际高水平财务与金融学期刊上：Journal of Corporate Finance，Journal of Banking and Finance, Journal of Business Finance and Accounting，Journal of Empirical Finance等等。在《经济研究》《管理世界》等中文权威学术刊物上发表多篇文章。担任Journal of Banking and Finance, Journal of Risk and Insurance等国际知名学术期刊的匿名评审人。担任国家自然科学基金项目、教育部人文社会科学项目评审人。主持国家自然科学基金2项，参与国家自然科学基金重点项目1项。被评为深圳市海外高层次“孔雀计划”人才，是多家上市公司独立董事。