时间：2023年5月20日 （周六） 9:05-16:30

会议地点：人文社科楼M501报告厅

主办：华中农业大学

承办：经济管理学院

报告人1：秦菲 8:35-9:05

题目：标价法规与零售商产品调整策略：来自美国酸奶市场的证据

Unit Pricing Regulation and Retailer Responses: Evidence from the U.S. Yogurt Market

摘要： 标价法规要求零售商在提供产品价格的同时提供单位价格，以帮助消费者做出更明智的购买决定。目前，此法规对零售商策略的影响的研究还很有限。通过使用美国酸奶市场的销售扫描数据，本文研究了标价法规对商店产品种类和定价的影响。本文发现不同类型的零售商会采取不同的产品种类调整策略，以减弱该法规所带来的激烈的价格竞争。结构性需求模型的结果显示实施单位价格法规会使得消费者福利下降，这表明了意外的政策效果。

Unit Pricing Regulation (UPR) requires retailers to display unit prices in addition to product prices and helps consumers make more informed decisions. Despite extensive research on consumers’ perceptions of unit prices, little is known about retailers’ price and non-price responses under intensified price competition brought by UPR. Relying on the geographic variation in UPR implementation across U.S. states, we use product-store-level scanner data on the U.S. yogurt market and identify UPR effects on store product offerings and pricing. We find that mass merchandisers reduce product offerings under UPR. Grocery stores that belong to a retail chain entirely under UPR add brands, while other grocery stores make no significant assortment responses. UPR price effects are limited for mass merchandisers as well as grocery stores. Using a structural demand model, we find that the average consumer surplus falls under UPR, highlighting an unintended policy effect.

报告人2：杨晓蓥 9:05-9:35

题目：补贴和车辆限制豁免对于中国电动汽车推广的影响：基于中国87个城市的实证分析

Effects of Subsidies and Vehicle Restriction Exemptions on Electric Vehicle Adoption: Evidence from 87 Cities in China

摘要：该文利用购买补贴政策在时间和空间上的变化，运用双向固定效应模型分析购买补贴和车辆限制豁免对中国电动汽车推广的影响。同时，利用2017年对地方补贴的新限制，运用DID模型进行分析。结果表明，购买补贴对电动车的选择有正向影响，但具有异质性。其中，补贴在一线城市最为有效，每增加一万元的补贴电动车市场份额提升18.77%。此外，给予电动车限行和限牌的豁免对电动车推广也高度有效。其中，给予限牌豁免增加了220%的电动车市场份额。

This paper examines the effects of subsidies and exemptions from license plate quotas and driving restrictions on electric vehicle (EV) adoption in China. The analysis leverages spatial and temporal variations in national and local EV subsidies using a panel fixed-effects model based on monthly passenger vehicle registration data from 87 Chinese cities from 2016 to 2019. In addition, this study exploits the differential local exposure to a 2017 shift in the national subsidy policy using a difference-in-differences model. The results show that subsidies have positive but heterogeneous effects on EV adoption. Subsidies are most effective in first-tier cities, with a 10,000 RMB increase in subsidies being associated with an 18.77% increase in the EV market share. However, within the same city tier, subsidies are less effective in regions with higher GDP per capita and greater shares of government expenditure allocated to education or environmental protection. Additionally, exempting EVs from driving restrictions and license plate quotas is highly effective in promoting EV adoption. For instance, exemptions from license plate quotas increase EV market shares by over 220%. More specifically, a one percentage point increase in the probability of winning a lottery or a 1,000 RMB increase in the auction price for a conventional vehicle license plate is correlated with a 1.2% to 1.4% increase in EV market share. Results from the difference-in-differences analysis also support the conclusion that the effect of subsidies on EV adoption is positive.

报告人3：方滢恺 9:35-10:05

题目：美国实施对出口国的海鲜产品监测项目对出口国IUU渔业和养殖方式的影响

Can U.S. import regulations reduce IUU fishing and improve production practices in aquaculture?

摘要：非法、未报告和不受管制 (IUU) 捕鱼是对可持续海产品生产的重大挑战，这在传统治理体系中难以解决。美国自2018年开始实施海产品进口监测计划 (SIMP) 以打击 IUU 捕鱼，意图阻止 IUU 海产品进入美国市场。美国拥有的市场支配力将会激励出口商改善管理，反之，SIMP 相关的产品将以更高的价格被美国消费者接受。本人使用剩余供应方法调查了美国是否对 SIMP 中包含的三种物种（虾、蟹和金枪鱼）具有购买力。结果表明，SIMP将对可持续渔业管理发展有正向影响。

Illegal, Unreported, and Unregulated (IUU) fishing is a significant challenge to sustainable seafood production which is difficult to address in traditional governance systems. Recently, the U.S. has implemented a Seafood Import Monitoring Program (SIMP) to combat IUU fishing and seafood fraud by requiring chain-of-custody documentation of 13 species when imported to the U.S. This will exclude IUU seafood from the U.S. market. If the U.S. has market power due to large imports, it will also give exporters incentives to improve management to comply with the SIMP. However, if the U.S. has no market power, the effect of the SIMP will be a change in trade patterns and the costs associated with the SIMP will be carried by U.S. consumers in the form of higher prices and lower seafood consumption. In this paper, a residual supply approach is used to investigate whether the U.S. has buyer power for three species included in the SIMP: shrimp, crab, and tuna. The standard residual supply framework is augmented to account for exchange rates. The results indicate that the U.S. has buyer power for most products. Hence, the SIMP will give incentives to improve the management practices in the investigated supply chains.

报告人4：付海涛 10:20-10:50

题目：基于图神经网络的生物医学网络链路预测研究

Research on biomedical network link prediction based on graph neural networks.

摘要：不同生物医学实体（如RNA、蛋白质、药物、疾病等）之间的关联关系构成了复杂的生物医学网络。对生物医学网络的研究，不但可以揭示生物体内的调控机制等重要的生物学过程，还有助于理解疾病的发生机制、产生新的治疗药物和策略等。有效挖掘生物医学网络中实体之间的潜在关系是生物医学、生物信息学、人工智能等领域共同关注的重要课题。本研究提出了基于图神经网络的计算方法用于探索解决生物医学网络链路预测问题。

The associations among different biomedical entities, such as RNA, proteins, drugs, and diseases, form complex biomedical networks. Research on biomedical networks can not only reveal important biological processes such as regulation mechanisms within organisms, but also aid in understanding the mechanisms underlying disease occurrence and in developing new therapeutic drugs and strategies. Effectively mining the potential relationships between entities in biomedical networks is an important topic of interest in fields such as biomedicine, bioinformatics, and artificial intelligence. This study proposes computational methods based on graph neural networks for exploring and solving the problem of link prediction in biomedical networks.

报告人5：何心巨 10:50-11:20

题目：多层级环境治理的最优集中化水平：来自中国河长制的证据

Optimal Centralization Level of Hierarchical Environmental Governance: Evidence from River Chief System in China

摘要：本文研究了中央和地方政府对于环保效率的集权化和分权化的争论，指出此争论忽视了河流污染管理应该达到的精确层次。研究以中国2016年全国性实施的“河长制度”作为准自然实验，检验了中央集权化对于河流治理的有效性。结果表明，“河长制度”降低了省级工业污水排放并提高了工业技术水平。然而，省级协调的环境法规加剧了污染物排放的恶性循环问题。在采用“河长制度”后，上游城市与省份之间的工业污水排放和第二产业的GDP比率分别增加了24.53%和23.94%。为了更好地理解研究发现的重要性，研究表明，“河长制度”导致工业污水排放量（约1100万吨）减少，第二产业的GDP（约109亿元）增加。在“协同河长制”下，我们提出减少省际负外部性，第二产业的GDP将增加139亿元，工业污水排放将减少380万吨。研究结果表明，中央政府应在管理跨行政边界的河流时应用更大程度的集权化。

The debate between decentralization and centralization about the efficiency of environmental protection has paid little consideration to the precise level at which river pollution management should be centralized to be effective. This research examines the efficacy of the centralized-to-provincial strategy to river governance, taking China's 2016 statewide implementation of the River Chief System as a quasi-natural experiment. We find that the River Chief System reduces provincial industrial sewage discharges and increases the level of industrial technology. However, pollutant emission beggar-thy-neighbor problems are exacerbated by provincially coordinated environmental regulations. After adopting the River Chief System, the ratio of industrial sewage discharge and GDP of the secondary sector of the upstream city to the province increases by 24.53 percent and 23.94 percent, respectively. To put the magnitude of our findings in context, the River Chief System results in a decrease in industrial sewage discharge (approximately 1100 million tons) and an increase in the second sector's gross domestic product (GDP) (approximately 109 million Yuan). Under the Collaborative River Chief System, we propose to reduce inter-province negative externalities, the GDP of second sector will increase by 1,390 million Yuan and industrial sewage discharge will decrease by 380 million tons. Our findings suggest that the central government should apply a greater degree of centralization for rivers that traverse administrative boundaries.

报告人6：李游 14:00-14:30

题目：合作而非替代：人工智能情感类人性的消极影响和人智组队的应对策略研究

Collaboration rather than replacement: research on the negative impact of AI affective human-likeness and the coping strategy of human–AI teaming

摘要：如今面对复杂的预测和决策任务，以算法为核心的人工智能（AI）产品能以专家级，甚至超越专家级的准确性为消费者提供服务。然而，现实生活中人们时常倾向于依靠人类而不是算法的判断力。研究者将这种倾向称之为“算法厌恶”。但是，AI情感类人性是否会导致算法厌恶？如何通过人智协同策略缓解算法厌恶？现有研究还未给出上述问题的答案。通过解决上述问题，我们的研究为AI产品的设计和推广提供理论支撑和应对策略。

Nowadays, in the face of complex prediction and decision-making tasks, algorithm-centric artificial intelligence (AI) products can provide services to customers with expert-level or even beyond expert-level accuracy. However, people often tend to rely on the judgment of humans rather than algorithms. Researchers call this tendency “algorithm aversion”. But, does AI affective human-likeness lead to algorithm aversion? How to mitigate algorithm aversion through human-AI collaboration strategies? Existing studies have not yet provided answers to the above questions. By addressing the above questions, our research provides theoretical support and coping strategies for the design and promotion of AI products.

报告人7：李竹波 14:30-15:00

题目：灵活 Vs审慎：国有股权监管改革与国有企业创新

Flexible Vs Prudential: Reform of State owned Equity Supervision and Innovation of State owned Enterprises

摘要：深化国有企业改革，提高国有企业竞争力是当前经济体制改革的重要内容。本文运用双重差分方法对比分析了国有股权“审慎”监管和“灵活”监管对国有企业创新影响的差异。研究发现，国有股权监管改革后，更“灵活”的监管对创新的激励效应更加积极，且它对技术领先、非“管制性”行业的国企以及央企更加显著。作用机制检验发现，更“灵活”的监管通过改善股权结构、改善董事会治理、降低代理成本、提升财务冗余，从而发挥创新激励效应。此外，更“灵活”的监管还显著促进了混合所有制改革，同时还提升了国有企业的突破式创新和创新质量，最终提高了企业价值、盈利能力和资源配置效率。本文为国有股权监管“放管服”改革方向的制度红利提供了微观证据，也对深化国有企业改革、促进实体经济高质量发展提供了重要的政策启示。

Deepening the reform of state-owned enterprises(SOEs) and improving the competitiveness of SOEs is an important part of China's current economic system reform. This paper uses the double difference method to analyze the difference between the "prudential" and "flexible" supervision of state-owned equity on the innovation of SOEs. The study found that after the reform of state-owned equity regulation, more "flexible" regulation has a more positive incentive effect on innovation, and it is more significant for central enterprises, technology leading and non "regulatory" industries SOEs. The mechanism test found that more "flexible" regulation can play an innovative incentive effect by improving the ownership structure, improving the governance of the board of directors, reducing agency costs, and enhancing financial redundancy. In addition, the more "flexible" regulation has also significantly promoted the reform of mixed ownership, improved breakthrough innovation and innovation quality of SOEs, and ultimately improved enterprise value, profitability and resource allocation efficiency. This paper provides micro evidence for the institutional dividend of the reform direction of administration reform of state-owned equity supervision, and also provides important policy enlightenment for deepening the reform of SOEs and promoting the high-quality development of the real economy.

报告人8：周燃 15:00-15:30

题目：公司年报MD&A中的管理层诚信承诺：真实盈余管理之后的道德掩饰行为？Management Integrity Commitment in MD&A of the Corporate Annual Report: Is Moral Cover-Up Behavior after the Real Earnings Management?

摘要：心理学研究发现，个体在做了不道德行为之后，偏爱通过身体清洁行为来减轻自己的不道德感，即所谓的“麦克白效应”。而与西方文化强调原罪和自我救赎不同，中国传统文化以礼为核心的文化心理结构导致东方人更多的从面子角度去思考有关道德问题，因此中国人身上不存在麦克白效应，中国人在负性道德情绪后出现的是一种道德掩饰。真实盈余管理被认为是损害投资者利益的不道德行为，那么管理层在真实盈余管理后是否存在道德掩饰行为呢？

Psychological studies have found that individuals prefer to alleviate their immorality through physical cleansing after committing immoral acts, which is known as the “Macbeth Effect”. Unlike Western culture, which emphasizes original sin and self-redemption, traditional Chinese culture has a ritual-based psychological structure that leads Easterners to think more about moral issues from a face-saving perspective, so the Macbeth effect does not exist in Chinese people, and Chinese people appear to have a moral cover-up after negative moral emotions. Real earnings management is considered to be an unethical behavior that harms investors’ interests, so is there a moral cover-up behavior by management after real earnings management?

报告人9：郭恺钊 15:30-16:00

题目：自动化，技能与就业创造

Automation, Skill and Job Creation

摘要：近年来，随着科学技术的飞速发展，关于科技进步与失业的讨论再一次进入人们的视野。有学者认为科技进步将取代劳动力，而也有人认为科技进步将有利于劳动者就业。本文从自动化技术对就业率的异质性影响出发，通过辨别采用自动化技术造成的就业岗位减少和增加的不同影响，讨论了其对不同收入水平区域的就业率影响。自动化技术没有显著地带来工作岗位破坏，而是透过减少工作岗位创造的方式带来工作岗位的净减少。

This paper explores heterogeneous effects of automation technologies on employment rate across regions from different income groups, and investigates mechanisms through proportion of skilled workers. Automation, measured by both robotic penetration and ICT intensities, is replacing labour force. Exploiting variations across US commuting zones, I find the magnitudes of employment reductions are significant and sizeable in low and middle income areas, and rising income levels could cause insignificant employment response. Leveraging shift-share IV strategies and generalised model specifications, further evidence supports that these patterns can be explained by a simple net job creation channel, as displacement effects outweigh productivity effects in low income CZs with lower proportion of skilled labour, and job losses are larger for middle income CZs with concentration of routine occupations; job creations are complementing job destructions with growing income levels and higher skill shares. Such technical changes are more pronounced for manufacturing sectors.

报告人10：蒋骄亮16:00-16:30

题目：并购业绩对赌、企业创新与发明者流动

The Earnout Agreements of Acquisitions, Corporate Innovation and Inventor Mobility

摘要：本文研究并购交易中的业绩对赌条款对并购后目标公司技术创新和发明者流动的影响，结果发现：相比于未签订对赌条款的目标公司，签订业绩对赌条款的目标公司在被并购后，其创新数量和质量均发生显著的降低，这一效应随着业绩对赌所施加的业绩压力的增加而增加。进一步研究业绩对赌抑制企业创新的作用机制，发现并购业绩对赌导致目标公司削减研发投入，并使得发明者离职人数增加和新聘人数减少，这些都削弱了企业的创新水平。有别于以往研究普遍强调业绩对赌契约对管理层的激励作用和对业绩的提升作用，本文研究结论有助于人们更进一步认识到对赌契约的弊端，从而为并购双方设计更为合理的契约条款提供决策借鉴，也为证监部门通过加强并购市场监管推动企业创新提供理论依据。

In this paper, we examine the effect of the earnout agreements of acquisitions on innovation productivity and inventor mobility of target firms after the acquisition. We use a difference-in-difference (DiD) methodology to establish causality. Our identification strategy suggests a negative causal effect of earnout agreements between acquiring firms and target firms on post-acquisition innovation output of target firms. This effect is more pronounced among the acquisitions where the earnout agreements exert too much financial pressure on managers. Furthermore, examining the underlying channels through which earnout agreements impede corporate innovation, we show that target firms from the acquisitions with earnout agreements experience a decline in R&D expenses, as well as an increase in the departures of inventors, a decrease in the new hires of inventors during the post-acquisition period. Collectively, different from the prior studies focusing on the incentive effect of earnout agreements, our paper highlights the dark side of the earnout agreements that impede innovation, and provide meaningful policy implications for the companies to design acquisition contracts and for the government to promote innovation through acquisition regulation.