【报告摘要】

This study examines whether lenders could play an information intermediary role by facilitating technological knowledge transfer among their borrowers. I use common lenders in the syndicate loan market and patent citations between technologically connected firm pairs to investigate lenders-induced knowledge spillovers between borrowing firms. I find that firm pairs with common lender(s) are more likely to cite each other’s patents than those without common lender(s). The effect is more pronounced for cross-technology-subclass citations and external patents, firm pairs from different industries, located in different states (cities), and firms from more competitive industries. Firms with more lender-based connections to peers also generate more patents and demonstrate a higher level of innovation efficiency. This study provides the first large-scale empirical evidence for the role of private lenders as information intermediary by documenting the technological diffusion between firms via shared lenders.

【报告人简介】

金斓，香港浸会大学会计系博士生。在中国人民大学文学院获得本科学位，期间赴香港岭南大学交流学习，后赴澳大利亚麦考瑞大学(Macquarie University)获得会计学硕士。博士期间曾在美国石溪大学(Stony Brook University)交流学习。研究方向为政治经济学、制度理论、公司创新、公司劳工政策、ESG和审计。工作论文被美国会计协会(AAA)年会、加拿大学术会计学会(CAAA)年会、欧洲会计协会(EAA)年会、国际商务学会(AIB)年会、第9届Journal of International Accounting Research年会、第36届澳大利亚财经金融会议(AFBC)、第14届The Japanese Accounting Review年会等国际学术会议接收并参会研讨。参研国家自然科学基金项目一项。

撰稿：曲琦 审核：许浩然 单位：八戒体育丨中国有限公司会计学院 辽宁省资本市场财务与会计研究生创新与学术交流中心