【题目】Direct flights and cross-border mergers & acquisitions

【时间】2022年12月8日（周四）14:30
【地点】腾讯会议：530-909-275，会议密码：59691

【主讲人】张弛

【主持人】彭飞

【摘要】

Prior evidence indicates that proximity increases investments resulting in stronger economic growth. The introduction of a non-stop direct flight between two locations in different countries allows for faster travel and a lower cost of acquiring information, potentially facilitating acquisitions abroad. We examine this channel by considering cross-border mergers and acquisitions (M&A) activity between China and the U.S. Our results suggest that direct flights matter most in target selection. Direct flights are more important for M&A activity where information asymmetry is greater and for first time acquirers in the market. We demonstrate that endogeneity is unlikely to drive the results.

【主讲人简介】

张弛，中山大学“百人计划”引进人才，公司金融方向硕士生导师。主要研究方向为公司金融，以第一作者的身份在《Journal of Corporate Finance》等SSCI检索杂志以及多本CSSCI检索杂志发表论文多篇，曾参与香港SPPR项目“粤港澳大湾区背景下香港绿色金融中心建设的制度分析与政策设计”以及主持香港科技大学（广州）博士后课题“绿色金融政策对大湾区基础设施建设与绿色企业发展的影响”。