报告题目：Distant Borrowing
报告人：彭俞超，中央财经大学金融学院副院长、教授、博士生导师
时间：10.24 星期四（16：00 – 17：30）
地点：新主楼 A618
讲座系列： 融 实
摘要:
This paper establishes an information sensitivity model following Gorton and Ordoñez (2014) to explain why firms choose distant borrowing. The results show that high quality firms are more likely to choose distant branches, while low quality firms are more likely to choose close branches. Compared with distant branches, close branches are more likely to produce information and thus loan rates are strongly correlated with project default risk. Using transaction-level loan data from one of China's five largest state-owned commercial banks, we empirically confirm the model's implications. Moreover, since distant branches do not produce information, ex-post defaults are less reflected in loan pricing. Nearby branches apply differentiated pricing based on firm quality, while distant branches adopt uniform pricing. The negative correlation between loan prices and amounts also weakens as the branch-firm distance increases.
汇报人简介：
彭俞超，中央财经大学金融学院副院长，教授，博士生导师，入选国家级人才工程青年拔尖人才，中央财经大学“龙马学者（青年）”，北京市首批雨燕计划入选者，全国金融青联委员，兼任丝路金融研究中心主任，国际期刊China & World Economy副主编。获2024北京教育系统优秀育人先锋，入选黄大年式教师团队。主要研究方向为宏观经济学、银行与公司金融。近年来，在《经济研究》《管理世界》、Journal of Development Economics、Journal of Money, Credit and Banking等国内外期刊发表论文80余篇，其中2篇论文在知网被引用超过1000次，单篇引用超过2000次，2篇论文入选全球ESI Top 1%高被引论文。获第九届高等学校优秀科研成果一等奖和青年成果奖等。
