哈佛商学院副教授Lauren Cohen:迷你西弗吉尼亚:企业作为政府眷属

 

【主讲】Lauren Cohen,哈佛商学院副教授
【主题】迷你西弗吉尼亚:企业作为政府眷属
【时间】2014年5月8日(周四)13:45-15:15
【地点】清华经管学院 伟伦楼401
【语言】英语
【主办】金融系
Abstract
 
Much like states that rely on government spending, certain firms rely on the government for a substantial share of their revenues. Exploiting the statutory requirement that forces firms to list the identities of their major customers, we identify and examine the set of firms whose major customers are listed as government entities. We employ an identification strategy that exploits government contract bid protests in order to identify the causal impact of government sales on future firm outcomes, and find that government-linked firms invest less in physical and intellectual capital, and have lower future sales growth.