科学研究
东财·会计与财务论坛：时祎
报告题目：Who Is Paying the Price? Spillover Effects of Legal Protection of Trade Secrets on Corporate Investment
报告人：时祎
报告时间：2025年12月6日（周六）10:20--11:20
报告地点：#腾讯会议：821-626-276
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】
Against the backdrop of U.S. state courts’ staggered adoption of the inevitable disclosure doctrine (IDD), this paper investigates whether the legal protection of trade secrets bestowed on firms in the IDD-endorsing states affects the investment decisions of their major competitors outside these states. The result reveals that firms outside the IDD-endorsing states decrease their investments when their rival firms start to have stronger legal protection of trade secrets. We also find that the decrease in these firms’ investments is possibly due to heightened talent shortages, competitive threats, or information opacity. Furthermore, we reveal that a high level of a firm’s market power mitigates the negative spillover effect of rivals’ trade secret protection on its investments, while a high level of investment friction strengthens the effect. The main result is robust to a set of sensitivity tests. Additional analysis suggests that these firms further face underinvestment, resulting in investment inefficiency.
【报告人简介】
时祎，博士毕业于澳大利亚麦考瑞大学商学院会计与公司治理系，获麦考瑞大学国际研究卓越奖学金，并获校长学术优秀奖（The Vice-Chancellor’s Commendation for Academic Excellence）。主要研究方向包括公司投资、信息披露、人才流动与组织决策、法律与监管对公司行为的外溢效应。研究成果发表于 Australian Journal of Management，并在International Journal of Accounting Symposium、ESG and Management Innovation International Conference 等会议报告相关研究成果。现为 Accounting & Finance的审稿人。
【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。
撰稿：郭亚飞 初审：刘冰 复审：刘璐 终审：许浩然
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
