报 告 人： 周翔翼（西安交通大学）

报告时间： 11月17日下午 3：30-5：00

报告地点：览秀楼105学术报告厅

报告摘要：

This study investigates the role of educational ties between limited partners (LPs) and general partners (GPs) in the private equity market using a comprehensive dataset on China’s private equity investments, along with manually collected detailed educational histories of executives of LPs and GPs. We create a set of counterfactual investments including all possible random pairings between LPs and GPs across geographic and temporal dimensions. Our results show a significantly higher incidence of educational ties in realized deals compared to the set of potential deals. Among these realized deals, the presence of an educational tie significantly increases the amount of capital raised. An examination of the mechanism reveals that enhancing information flow is the primary channel through which educational ties facilitate investments. Finally, there is evidence that educational ties can lead to better investment performance, particularly by increasing the likelihood of IPOs.

 

报告人简介：

周翔翼，西安交通大学金禾经济研究中心副教授，博士生导师，美国Texas A&M University经济系访问学者。主要研究领域为实证公司金融、应用微观经济学、风险投资与私募股权、银行产业组织。曾在Journal of Financial Services Research，Pacific-Basin Finance Journal，Applied Economics，Research in International Business and Finance, China & World Economy，《经济学季刊》，《金融研究》，《中国工业经济》，《会计研究》，《财贸经济》等期刊发表论文。担任Organization Science, Journal of Institutional Economics, Finance Research Letters, North American Journal of Economics and Finance，Research in International Business and Finance，China Finance Review International，《经济学季刊》，《金融研究》，《中国工业经济》，《金融学季刊》等期刊的匿名审稿人。目前担任中国风险投资学者论坛常务理事和陕西省创业投资协会外部专家。担任教育部学位论文和教育部人文社科基金通讯评审专家。主持国家社会科学基金项目和教育部人文社会18新利备用网站 项目。研究成果多次获得陕西省哲学社会科学优秀成果奖、中国风险投资学者论坛优秀论文奖、金融街论坛优秀论文奖。