【北航经管学术论坛】
题 目：Mutual Fund Investments in Private Firms
报告人：Yiming Qian教授，University of Iowa
主持人：邓路副教授
时 间：2017年7月5日15:00-17:00
地 点：北航新主楼A座618
摘要：
Historically a key advantage of being a public firm was broader access to
capital, from a disperse group of shareholders. In recent years, such capital
has increasingly become available to private firms as well. We document a
dramatic increase over the past twenty years in the number of mutual funds
participating in private markets and in the dollar value of these private firm
investments. Consistent with the greater availability of capital changing the
trade-off between private and public listing status, we find that mutual fund
investments enable companies to stay private an average one to two years longer.
Mutual funds’ returns on these investments appear to be both economically
meaningful and beneficial as a source of diversification, relative to
investments in publicly traded firms.
主讲人简介：
Yiming Qian is an Associate Professor of Finance at the Henry B. Tippie
College of Business, University of Iowa. She completed her PhD in Finance at New
York University in 2002. Her major areas of research include Corporate Finance,
IPOs, Mergers and Acquisitions, Corporate Governance, and Capital Market. Her
work has been published inReview of Financial Studies, Journal of Financial
and Quantitative Analysis, Quarterly Journal of Finance, Management Science,
Financial Management, Review of Accounting & Finance, Journal of Corporate
Finance, Journal of International Money and Finance, Economic Policy Review
.
Now, she is an Associate Editor ofAsia-Pacific Journal of Financial
Studies
. And she is referee ofJournal of Finance, Review of Financial
Studies, Management Science, Review of Economic Studies, Journal of Financial
and Quantitative Analysis, Review of Finance, Journal of Money Credit and
Banking, Journal of Corporate Finance, Journal of Empirical Finance, Journal of
Financial Intermediation, Financial Management, Journal of Banking and
Finance,
and et al.
and et al.
经管学院科研办
2017-07-04
