題目：Expertise Rents from Insider Trading for Financial Experts on Audit Committees
主講人：Jun Guo 博士（Rutgers University）
時(shí)間：2017年6月14日下午14:30
地點(diǎn)：主樓418會(huì)議室
主講人簡(jiǎn)介：
Dr. Jun Guo畢業(yè)于State University of New York at Binghamton in 2014, 獲會(huì)計(jì)學(xué)碩士和博士學(xué)位。Dr. Guo’s research focuses on financial reporting quality, internal controls and stakeholders’ interests. It also investigates audit quality, corporate governance and corporate social responsibility issues. Her research has appeared and is forthcoming in The Accounting Review , Contemporary Accounting Research , Journal of Banking and Finance, Journal of International Accounting Research , Journal of Information Systems and Advance in Accounting.
內(nèi)容簡(jiǎn)介：
This study documents the existence of expertise rents by finding that financial experts on audit committees obtain higher abnormal returns from insider purchases than do non-financial experts on audit committees. This study further investigates whether information processing skills work alone or jointly with an information advantage to generate expertise rents. While financial experts on audit committees outperform financial experts on other committees, financial experts on compensation, executive, nominating, and governance committees do not outperform non-financial experts on these committees. These findings suggest that expertise rents are domain-specific and can be obtained only when directors have both access to private information and information processing skills. In additional testing, this paper finds that expertise rents for financial experts on audit committees are primarily driven by non-accounting financial experts, whose finance or supervisory experience could make them better than accounting financial experts in understanding market conditions and assessing firm risk.
（主辦：會(huì)計(jì)系、科研與學(xué)術(shù)交流中心）
