时 间：2022年12月31日（周六）上午9:00-11:00

地 点：腾讯会议（ID：329599686）

报告一：Economic Policy Uncertainty and Information Intermediary: The Case of Short Seller

主讲人：王雨辰

【内容简介】

We examine the impact of economic policy uncertainty on the trading activity of short sellers, finding an increase in shorting flows of overvalued stocks during periods of high policy uncertainty. After controlling for endogeneity, macroeconomic factors, and different measurements, the results hold; the transaction cost represented by the institutional shareholding ratio moderates the impact of economic policy uncertainty on short sellers. Uncertainty about fiscal policy, taxes, government spending, entitlement programs, and national security are the main reasons for short-flow changes. Furthermore, our paper responds to a recent call by Jiang et al. (2022) for future research on how short sellers trade company shares during periods of high economic and political uncertainty.

【主讲人简介】

王雨辰，女，新加坡管理大学金融学博士，中国科学技术大学博士后，全国工业统计学教学研究会理事。研究方向为公司金融与实证资产定价，主持国家自然科学基金青年项目、安徽省自然科学基金青年项目，科研成果发表在Journal of Corporate Finance、 Journal of Business and Economic Statistics、Pacific-Basin Finance Journal等期刊。