【报告摘要】

This study examines how advances in communication infrastructure affect the diffusion of financial information across countries. We find that the introduction of third generation (3G) mobile broadband networks is followed by stronger market reactions to foreign industry leaders’ earnings announcements. This result is driven by 3G adoption in non-announcing firms’ countries, where investors process and react to foreign earnings news, rather than in announcing firms’ countries. The 3G effect is stronger when announcing and non-announcing firms share the same accounting standards, exhibit stronger return co-movement, and are geographically more distant, and when the disclosed information is more credible. We also find a stronger 3G effect for non-announcing firms in countries with higher societal trust, greater financial literacy, and broader investor participation. Additional analysis suggests that 3G adoption enhances global market integration. Overall, our findings suggest that mobile internet access reduces cross-country information frictions and facilitates global information diffusion.

【报告人简介】

胡金帅，厦门大学财务管理与会计研究院教授、博士生导师、副院长（主持工作），财政部国际化高端会计人才，任国际期刊Journal of Risk and Financial Management、Pacific Accounting Review 客座主编，和《当代会计评论》《财务管理研究》及Modern Economy & Management、Global Studies on Economics & Finance 编委会委员，曾兼任多家公司独立董事和内控与治理咨询专家，获福建省社会科学优秀成果一等奖与三等奖、厦门市“双一流”高校建设奖、厦门大学葛家澍科研奖、厦门大学优秀教学案例等奖项。研究领域包括中国及国际资本市场会计研究、财务报告、信息披露、社交媒体、公司治理等，近年来在该领域国际顶级期刊发表与接受发表世界一流水平高质量论文5篇，发表期刊分别为会计学国际三大顶级期刊Journal of Accounting & Economics、Management Science、Journal of International Business Studies、Review of Accounting Studies、Contemporary Accounting Research；另在金融学、会计学国际、国内权威与知名期刊发表论文十几篇，包括金融学国际前十权威期刊Journal of Corporate Finance、Emerging Markets Review、Journal of International Accounting Research、Accounting and Finance和《管理科学》《集成技术》等，是中国改革丛书《建设世界一流企业——全球竞争力进化之道》审稿专家。主持国家级科研项目2项、福建省教学改革重大项目1项、福建省社科重点课题1项、福建省自科课题和社科青年项目各1项、校级教学改革和科研项目4项。

【特别提醒】

未经论文作者和主办方允许，严禁将讲座内容录制并公开传播，违者将有可能被追究法律责任。

 

撰稿：曲琦 审核：刘行 单位：东北财经大学会计学院 辽宁省资本市场财务与会计研究生创新与学术交流中心