报告题目：Financial Analysts and Innovation in Supply Chain

报告人：In-Mu Haw许仁茂

报告时间：2024年6月11日（周二）14:00-15:30

报告地点：劝学楼245

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】

Problem definition: We examine whether and how financial analysts who follow both a supplier and its buyer (hereafter, supply-chain analysts) influence supplier relationship-specific innovation.

Methodology/results: We find that supplier firms followed by supply-chain analysts generate more relationship-specific patents and more valuable innovation than suppliers without supply-chain analysts. These effects are stronger for suppliers in high input specificity industries, where hold-up concerns and dependencies on the economic prospects of major buyers are more serious, and for suppliers in early-stage relationships with major buyers, when both relationship uncertainty and information asymmetries between trading partners are high. Our identification strategies based on exogenous shocks build the causal inference. Post hoc analyses suggest that supply-chain analysts act as effective information intermediaries between suppliers and buyers and between suppliers and outside investors, thereby fostering supplier innovation.

Managerial implications: This study extends social network theory and the supply chain innovation literature to comprehend analyst specialization, shedding new light on the distinctive role of supply-chain analysts in nurturing supplier innovation. Managers of supplier firms should recognize the importance of analysts as sources of information to improve their innovative initiatives and influence on network partners and they should encourage analysts to develop supply chain specialization. Managers of buyer firms should view interactions with analysts as means by which to encourage suppliers’ relationship-specific investments.

【报告人简介】

In-Mu Haw（许仁茂），现任美国德克萨斯基督教大学尼利商学院会计学教授，东北财经大学星海讲座教授，曾任纽约市立大学巴鲁克学院会计学副教授、香港中文大学访问教授、香港浸会大学访问教授、澳门大学访问教授、香港恒生大学访问教授等。许教授已在高质量会计、金融和管理学期刊如Journal of Accounting Research、The Accounting Review、Journal of Accounting and Economics、Review of Accounting Studies、Contemporary Accounting Research、Journal of Operations Management、Auditing: A Journal of Practice and Theory、Journal of Corporate Finance、Journal of Banking and Finance、Financial Management、Journal of Accounting, Auditing, and Finance发表学术研究论文50篇以上，获得研究及教学表彰60项以上。许教授于2006-2022年担任The International Journal of Accounting联合主编，2019年7月起担任Review of Quantitative Finance and Accounting副主编，曾在美国、德国、中国大陆、中国香港、中国澳门教授过硕士、博士等项目。

【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。