讲座人：许年行 教授

讲座主题：The Impact of Sin Culture: Evidence from Earning Management and Alcohol Consumption in China

摘要：We study whether culture plays an important role in affecting firm incentives when formal institutions fall short. We link earnings management to alcohol-related sin culture in China, and we find that firms in regions in which alcohol plays a more prominent role show more earnings management. Tests using the regional gender ratio and snow/temperature as instruments suggest a causal interpretation. Moreover, a high level of alcohol consumption in CEOs’ home region significantly enhances earnings management, suggesting that corporate leaders can transmit and propagate sin culture in society. We also find that culture can generate a negative externality by further reducing the likelihood of fraud detection; however, improvements in formal institutions (e.g., the 2012 anticorruption regulation) can suppress the negative impact of sin culture. Furthermore, the negative impact of culture is more significant in regions with low social trust. Our results shed new light on the impact of culture on the real economy.

讲座时间：2016年04月27日，周三，15:00开始

讲座地点：学院南路校区学术会堂604会议室

讲座人简介：许年行，中国人民大学商学院教授、博士生导师。厦门大学管理学院博士，北京大学光华管理学院博士后，“全国优秀博士学位论文”获得者，入选“中组部首批青年拔尖人才计划项目”。研究领域：公司财务、公司治理等。已在《经济研究》、《管理世界》、《管理科学学报》、《经济学》（季刊）、Journal of Banking & Finance、Journal of Corporate Finance、Management International Review、European Financial Management等期刊发表多篇学术论文。

本次论坛参加人员范围：会计学院教师、博士生、本硕博连读生以及本科生学术创新实验班成员。

[编辑]：孙颖