数字技术与经济金融前沿论坛（第40期）

摘要：

Mutual fund managers with superior supply chain knowledge could concentrate their holdings in vertically related stocks to garner higher performance. Consistent with this hypothesis, funds with more concentrated portfolios along supply chains perform better after controlling for risk and other measures of active management and industry concentration. We further show that funds’ investment mandates act as an institutional constraint, hindering the ability to fully exploit supply chain relationships, leaving money on the table. However, the benefits of fund manager specialization serve as a counterweight to such constraints.

主讲人介绍：

林秉旋，现为美国罗德岛大学金融学教授，美国乔治亚州立大学金融学博士。研究领域主要包括企业并购、公司治理、信息披露、中国资本市场以及行为金融等领域，已在Accounting Horizons，Journal of Corporate Finance，Journal of Accounting and Public Policy，Journal of Business & Economics Research，Journal of Financial Research， International Review of Financial Analysis，Applied Economics，《经济研究》，《管理科学学报》，《金融研究》以及《会计研究》等国内外一流学术期刊发表论文40余篇。林教授曾先后执教于哈佛大学、中山大学、中南财经政法大学等多所国内外名校，担任Journal of Accounting and Public Policy和European Journal of Finance客座主编，同时担任Applied Economics，Corporate Governance: an International Review，Journal of Economics and Finance，Journal of International Business Studies，Finance Research Letters，Financial Review，Journal of Banking and Finance等国际一流期刊审稿人，具有丰富的教学与研究经验和广泛的学术影响力，获《风险管理和保险评论》最佳论文奖（2008）、美国东北决策科学研究院会议最佳论文奖（2006）、《保险问题学报》最佳论文奖（2004）、国际保险协会年会最佳论文奖（2003）等奖励以及中山大学、中南财经政法大学、首都经济贸易大学等多所国内外知名大学的“杰出教授”称号。