报告主题：Personal Bankruptcy Law and Innovation around the World
Readier discharge in personal bankruptcylaw(PBL)increases patent, citation, and new patenter counts,all measures of innovation in tensity. Such PBL reforms also reallocate innovation across industries to better align with innovation opportunitiesproxied for by the distribu tion of innovation across US industries.Both effeets are driven by changes in SME patenting,are absent in data for large established firms. and are damped in countries that impose minimum capital requirements on new firms.This suggests pro-debtor PBL reforms intensify and redis tribute innovation by new, initially small firms which can develop radi cal potentially disruptive innovations unattractive to large established firms with extensive investment in existingtechnologies.Pro-debtor PBL reforms also increase value-added growth rates across all indus tries, but by larger margins in industries with more innovation opportu nities. PBL reforms and patent data are for 33 countries from 1990to2002. with subsequent years used to measure citations to patents in this period. Difference-in-difference tests, year and country-industry fixed-effects. and control variables aid in identification.
主讲人简介：荣昭
中南财经政法大学文澜学院教授、博导。历任西南财经大学、南京审计大学副教授。研究领域包括企业创新、公司金融和人口流动。论文发表于《Research Policy》《Small Business Economics》 Journal of ComparativeEconomics》《China Eco nomic Review》《Europcan Financial Management》
《Pacific-Basin Finance Journal(Journal ofHousing Economics《管理世界》《经济学季刊》《金融研究》《科研管理》等国内外知名经济、金融、管理类SSCI SCI学术期刊发表论文20余篇。
主持人：万欣
收入分配与现代财政学科创新引智基地专职研究员
时间：2023年4月13日(星期四)11:00-12:30
会议地点：文沁楼119会议室