应运营与财务管理研究所孙岩教授邀请，乔治华盛顿大学商学院张昀副教授将来访我院，并带来精彩报告。欢迎感兴趣的老师和同学参加！

主题：Investor Attention and Disclosure Effectiveness

主讲人：张昀 副教授

主持人：王雷 博士

时间：2019年11月15日19:00-21:00

地点：兰州大学城关校区齐云楼204室

讲座简介：We examine how mandatory disclosure rules affect disclosure effectiveness when it is costly for investors to process information and their understanding of disclosed information is affected by whether the information is presented in an accessible way. We model disclosure effectiveness as the equilibrium outcome of a communication game between firms and their investors and use investment efficiency as a measure of welfare. We show that when firms’private information about their project quality cannot be directly revealed by mandatory disclosure, more accurate and less complex disclosures do not necessarily improve disclosure effectiveness. Accuracy and complexity can be complements for disclosure rules regarding activities whose quality differs more across firms. They can be substitutes for disclosure rules about activities with more homogenous quality.

主讲人简介：

张昀，耶鲁大学商学院管理学博士（会计方向），现任乔治华盛顿大学商学院会计学终身副教授，曾任杜克大学富科商学院会计学助理教授。研究兴趣包括：分析式会计研究、代理问题和资本市场信息运用，在The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, Review of Accounting Studies等国际顶级会计学期刊发表学术论文多篇，担任The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, Journal of Accounting and Public Policy, Management Science, Production and Operations Management及Review of Accounting Studies等多个国际顶级期刊匿名评审人。