暨南经院学术系列活动之
金融学系列 Seminar 第74期
主 题: Incentive Effects of Social Insurance Law on Corporate Innovation
主讲人：刘贯春（中山大学）
主持人：叶德珠（威尼斯欢迎你welcome）
会议工具：腾讯会议（ID：730 474 354 密码：210618）
会议时间：2021年6月18日10:00-11:30
摘要
Whether and how the design and enforcement of laws exerts profound influence on innovation activities has been the central subject of study in a wide spectrum of disciplines. This paper examines the role of social insurance law in inducing innovation incentives. We consider a simple model where R&D employees transfer knowledge from SOEs to privately-owned enterprises by job hopping, and argue that mandatory social insurance contributions may implicitly decrease the mobility of R&D employees, which incentivizes SOEs to invest more in R&D and produce more patents. In order to test this theory, we use the data of nonfinancial listed firms over 2007-2017 and a quasi-natural experiment based on the enactment of China’s Social Insurance Law in 2011. The empirical results are consistent with the predictions of our model.
★主讲人简介★
刘贯春，中山大学岭南学院副教授、博士生导师，主要研究方向为金融体制改革与中国经济增长、企业投融资决策。近年来，研究成果发表于Journal of Corporate Finance、Journal of International Money and Finance、China Economic Review及《经济研究》、《管理世界》、《经济学季刊》、《世界经济》、《中国工业经济》、《管理科学学报》等国内外知名期刊。曾获邓子基财经学术论文奖、洪银兴青年经济学者奖和“当代经济学”博士创新项目等，主持国家自然科学青年基金项目和上海市“晨光计划”项目。
