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【学术通知】香港城市大学商学院会计系教授余扬新:Managerial Sentiment and Cost Stickiness

  • 发布日期:2023-06-14
  • 点击数:

  

喻园管理论坛2023年第55期(总第878期)

演讲主题: Managerial Sentiment and Cost Stickiness

主 讲 人: 余扬新,香港城市大学商学院会计系教授

主 持 人: 高   茹,必赢网址bwi437会计系教授

活动时间2023年6月19日(周一) 9:30-11:30

活动地点管理大楼119室

主讲人简介:

余扬新现为香港城市大学商学院会计系教授。余教授2011年于香港科技大学会计系获得博士学位后,在澳大利亚国立大学会计学院担任教职,之后于2014年加入香港城市大学会计系。余扬新教授的研究领域包括公司披露,高管薪酬,企业社会责任。成果发表于Journal of Accounting and Economics, The Accounting Review, Journal of Financial and Quantitative Analysis, Strategic Management Journal等会计、金融、管理期刊。

活动简介:

Using terrorist attacks as an exogenous source driving psychological changes in managerial sentiment, we explore the causal effect of managerial sentiment on firms' cost stickiness. We find that firms located in the attacked metropolitan areas experienced a significant decline in cost stickiness for the first two fiscal quarters after the terrorist attacks. We further find that the effect is more pronounced for firms with inexperienced, less-confident or short-horizon CEOs; and when attack events are more salient and managers have limited prior exposure to negative events. Our main findings are robust to a variety of additional tests. Overall, our study suggests that shocks induced by exogenous negative events affect managerial sentiment. In turn, they shape managers' real operating decisions.

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