科学研究
报告题目：Price of Policing: The Effect of Extraterritorial FCPA Enforcement on US Banks' Foreign Lending
报告人：王可
报告时间：2026年10月13日（周二）10:00-11:30
报告地点：#腾讯会议：346-917-843
主办单位：东北财经大学会计学院 辽宁省资本市场财务与会计研究生创新与学术交流中心
【报告摘要】
Using a large sample of syndicated loans granted to non-US borrowing firms, we show that the extraterritorial enforcement of the US Foreign Corrupt Practices Act (FCPA) reduces US banks’ lead roles in loans granted to firms in enforced countries. The effect is stronger for borrowing firms with operations in high-corruption countries. However, US relationship banks’ lead roles in lending to non-US borrowers are less affected. Furthermore, we find that domestic banks in non-US countries with FCPA enforcement capture a portion of the market share previously held by US banks. Consistently, the negative effect of FCPA enforcement on US banks’ lead roles in cross-border loans is stronger when borrowing firms’ home countries have greater private credit availability. Overall, our results suggest that extraterritorial FCPA enforcement may deter US banks’ lead roles in international syndicated loan markets due to increased compliance burdens and enforcement risks for US banks and foreign borrowing firms.
【报告人简介】
王可，加拿大阿尔伯塔大学（University of Alberta）副教授，博士毕业于中国香港城市大学。主要研究领域包括公司信息披露、债务市场、利益相关者关系。近年来在Contemporary Accounting Research、Organization Science等国际顶级期刊发表论文四篇，在Accounting Horizons、Journal of Accounting and Public Policy等其他国际权威期刊发表论文五篇。同时担任Managerial Auditing Journal副主编，Corporate Governance: An International Review论文初选编辑，以及The Accounting Review、Contemporary Accounting Research、Journal of Financial and Quantitative Analysis、Production and Operations Management等国际顶级期刊审稿人。
【特别提醒】
未经论文作者和主办方允许，严禁将讲座内容录制并公开传播，违者将有可能被追究法律责任。
