主办单位：999策略白菜手机论坛

　　 《经济评论》期刊社

　　时 间：2018年6月8日(周五)

　　地 点：第七会议室(A511)

　　讲座题目：Can Tax Incentives Promote Investment? Firm Responses to Accelerated Depreciation in China

　　摘要：Can tax incentives promote firm investment? We address this question via a simple model in which firms choose the optimal amount of irreversible investment. The model predicts that tax incentives that reduce the user cost of capital stimulate firm investment only when the expected taxable income is above a certain threshold. We exploit a rich administrative tax database and a Chinese accelerated depreciation reform in 2014 for empirical analyses. Consistent with the predictions, we find that the tax incentives on average have weak effects on investment but have strong positive effects for firms with a significant positive amount of taxable income. Additionally, the incentives promote investment for growing firms but not for declining firms. These results imply that investment-based tax policies may be less effective during downturns in business cycles.

　　报告人：刘宇，复旦大学经济学院助理教授，本科和硕士分别毕业于999策略白菜手机论坛和香港科技大学，博士毕业于美国耶鲁大学。研究领域为公共经济学和发展经济学。

　　讲座时间：9:00-10:00

　　讲座题目：投资者评级对发行人评级质量的影响

　　摘要：发行人付费的盈利模式可能导致评级机构的利益冲突和信用评级膨胀，投资者付费机构“中债资信” 于2010年成立后对发行人付费机构形成了声誉压力。基于此，本文分析了投资者付费机构的跟踪评级对发行人付费机构评级质量的影响。研究发现：第一，投资者付费机构的跟踪评级将显著提高发行人付费的声誉压力和评级质量;第二，中债资信的进入不能完全解决评级膨胀问题。第三，债券定价与发行人付费评级质量的改善不相关，对评级膨胀敏感。上述结论为政府相关部门加强信用评级建设，实施双评级提供一定的理论与实践证据。

　　报告人：赵仲匡，北京大学经济学院金融系博士生，现在999策略白菜手机论坛就职，研究方向为公司金融，曾在Economic Modelling,《管理世界》等学术期刊发表多篇学术论文。

　　讲座时间：10:00-11:00

　　讲座题目：The Impact of Energy Regulation on Firm Performance and Energy Efficiency: Evidence from micro-data of Chinese Firms

　　报告人：刘志阔，上海财经大学中国公共财政研究院讲师，复旦大学经济学博士，主要研究公共经济学，已在国内外杂志发表多篇论文，并主持国家自然科学基金青年项目等多项研究课题。

　　讲座时间：11:00-12:00

　　讲座题目：Minimum Wage Setting in China: What Factors Matter for Local Governments?

　　摘要：The literature on firm effects of minimum wages is about a century old and includes hundreds of studies (yet the debate remains intense and unsettled). The reversal side, namely how firms influences the determination of the minimum wage, so far has been fairly overlooked. Inspired by this, distinct minimum wage legislation in China and field survey on relevant regulatory authorities, this paper uses geographically-linked firm data from its national tax surveys between 2007 and 2011 and exploits such heterogeneity at city level to reveal the process to set minimum wage and differentiates such analysis for municipal districts and non-municipal regions. It finds that: the minimum wages in areas with relatively more labor-intensive enterprises are lower even when many other potential factors are controlled for, and this is particularly evident for municipal districts though they on average have higher minimum wages. Moreover, the socio-economic factors publicly mentioned in official documents, such as unemployment rate, average wages, development stage and living standard seldomly show any influence on minimum wage setting when using specifications of common usage. They, however, exert both statistically and economically significant effects as expected when possible endogeneity problems caused by neighborhood effects (local governments benchmarking their minimum wages against those in other regions) among Chinese cities are carefully addressed with Tobit regressions. Robustness check analysis confirm that these results hold to a wide range of specifications including alternative measures of labor intensity and many other scenarios. This article implies that more work could be conducted to revisit firm effects of minimum wages when relaxing a priori assumptions that they are probably neither exogenously nor independently determined.

　　报告人：张琼，中国人民大学公共管理学院副教授，硕士生导师。2005年获北京大学经济学学士学位，2011年获清华大学经济学博士学位;2011-2016年任教于中央财经大学经济学院，2016年至今任教于中国人民大学公共管理学院社会保障研究所。主要研究兴趣为人口与劳动、公共经济学。主要学术成果发表于《经济研究》、《世界经济》、《金融研究》等中文期刊及Population Studies、China Economic Review、Journal of the Asia Pacific Economy等英文期刊;论文《中国经济减速的生产率解释》于2017年获第17届(2016年度)孙冶方经济学奖论文奖。

　　讲座时间：14:30-15:30

　　讲座题目：要素市场扭曲抑制了创新效率的提升吗?

　　摘要：利用DEA- Malmquist指数分解法测度2006-2015年中国30个省级行政区的创新效率变动，同时用C-D生产函数计算各地区的要素市场扭曲程度。在此基础上，构建动态面板模型，运用两步系统GMM方法实证检验要素市场扭曲与创新效率之间的关系。研究结果表明：要素市场扭曲主要通过阻碍技术进步抑制创新效率的提升，而与创新资源配置效率之间有着倒“U”型的非线性关系，即当要素扭曲程度超过一定程度后才会对配置效率产生抑制作用;高新技术产业的发展、良好的通讯基础设施有助于创新效率的提高，而政府干预、外商直接投资和劳动力素质则显著抑制了创新效率的提升。

　　报告人：李雪松，999策略白菜手机论坛副教授，荷兰马斯特里赫特大学、澳大利亚麦考瑞大学访问学者，曾获得湖北省优秀教学成果奖、999策略白菜手机论坛本科优秀教学业绩奖等荣誉。目前关注区域经济可持续发展与区域一体化研究。在《中国人口资源环境》、《中国软科学》、《中国人口科学》等刊物发表多篇文章，主持国家社科基金项目、教育部人文社会科学规划项目、司法部国家法治与法学理论研究项目等20多项。

　　讲座时间：15:30-16:30