北航经管学术论坛
卡迪夫大学Arman Eshraghi教授讲座通知
报告题目：Technology Hype and Financial Markets
主讲人：Arman Eshraghi，Cardiff University
讲座时间：6月20日周五，10：00-12：00
地点：新主楼A1028
邀请人： 张军欢
讲座摘要：
We examine how investors react when firms disclose hyped emerging technologies. In a novel US setting, we match technologies disclosed in 8-K filings with corresponding stages of the widely used Gartner Hype Cycle. Findings show strong robust evidence for ‘technology hype’: investor short-term reactions are significantly positive - particularly to technologies at their peak of inflated expectations - but reverse later due to insider selling and firms overselling the hype. Firms with low analyst coverage, high retail ownership and information asymmetry, and those outside Nasdaq and the Silicon Valley experience stronger abnormal returns, consistent with investors searching for hidden gems.
主讲人简介：
Prof. Arman Eshraghi holds the Chair of Finance and Investment at Cardiff Business School, UK. His academic research spans finance, accounting and management with interests including behavioural/corporate/sustainable finance and financial technology. He is Editor-in-Chief of International Review of Economics and Finance, Senior Editor of Finance Research Letters and Global Finance Journal, and currently guest-editing for the European Journal of Finance. He chairs the professorial committee of the British Accounting and Finance Association and leads the Cardiff Fintech Research Group as well as the Behavioural Finance Working Group in London. His research is published in Review of Financial Studies; Review of Finance; Accounting, Organizations and Society; Harvard Business Review; British Journal of Management etc.
