讲座系列：产业组织理论与政策系列讲座第31场（学科发展系列讲座总期第82场）
讲座人：王庆伟 （卡迪夫商学院）
时间：2025年3月19日（周三）13:30-15:00
地点：博学楼1220
主持人：江萍（对外经贸大学国际经济贸易学院金融学系教授）
讲座题目：The Impact of Industrial Policy on Capacity Overhang: Evidence Based on Machine Learning
讲座摘要：This paper examines the impact of industrial policy on firm-level capacity overhang, using China’s 2010 strategic emerging industries initiative （SEIP） as a pseudo experiment. We employ machine learning to construct a novel text-based measure of firm overcapacity and identify the treatment and control groups from the policy document and the corporate annual reports. Our difference-in-differences analysis reveals that the SEIP significantly mitigates firm overcapacity, especially for state-owned enterprises, firms with high levels of irreversible investments, low-marketization regions, and competitive industries. The effect, while persistent, diminishes over time. Importantly, we find that corporate innovation, particularly high-quality innovation outputs, serves as a mechanism through which SEIP impacts overhang. Our paper has significant policy implications.
主讲人简介：
王庆伟教授是英国卡迪夫商学院金融学讲座教授，会计金融系系主任。他曾担任班戈商学院助理教授，欧洲经济研究中心（德国）研究员, 并参与过德意志银行、德国联邦经济和劳工部以及德国科学基金会的研究项目。
王教授现为卡迪夫金融科技研究中心联合主任，British Accounting Review编委, European Journal of Finance, Finance Research Letters副主编，以及European Journal of Finance “金融科技和金融市场”特刊的客座主编。他曾在许多国际期刊上发表文章，包括Journal of International Business Studies, Journal of Empirical Finance, European Financial Management, and International Journal of Forecasting. 他所领导的卡迪夫金融科技研究组多次获得威尔士金融科技提名奖。他的论文多次在国际会议上获奖。
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