一、主题：Ownership Structure, Antitakeover Provisions, and the Cost of Bank Debt
2018年于南洋理工大学商欧宝娱乐获得金融学博士学位。主要研究领域为保险公司财务、保险监管等。近年来，在《中国社会科学》、Journal of Banking and Finance等国内外权威学术期刊发表论文多篇。
We investigate whether the effects of antitakeover provisions(ATPs) on debtholder wealth vary across firms’ ownership structure. Using a regression discontinuity design, we find that loan spreadssignificantly decrease (increase) for family (nonfamily) firms after thepassage of close-call shareholder proposals to remove ATPs. The decrease (increase) in loanspreads is more evident when family firms (nonfamily firms) have lower (higher)asset substitution problems, when they face more (less) intense product marketcompetition, and when institutional shareholders hold smaller (larger)ownership. The results suggest that ownership structure is an important factorwhen assessing the impact of ATPs on debtholder wealth.