近日，我院肖作平教授团队及其指导的博士生合作撰写的学术论文Do CEOs with academic experience add value to firms? Evidence on bank loans from Chinese firms发表于国际SSCI重要期刊Pacific-Basin Finance Journal（JCR 一区）。
https://doi.org/10.1016/j.pacfin.2021.101534
Abstract：
This study uses Chinese firms to show that CEOs with academic experience obtain bank loans with lower loan spreads, longer maturity, and fewer collateral requirements. They enhance goodwill of the firms (social capital and better-quality earnings reporting) and lower agency costs to reduce loan spread. Academic CEOs engage in a series of stewardship behaviors to improve financial performance. They play a critical role in determining the private debt contracts.
