题　目：Understanding the Impact of Trade Policy Effect Uncertainty on Firm-level Innovation Investment

嘉　宾：Daniel Chen (陈其), Randall W. and Sandra Ferguson Endowed Professor, Hankamer School of Business, Baylor University, USA

主持人：刘益 教授 上海交通大学安泰经济与管理学院

时　间：2024年3月13日（周三）13:30-15:00

地　点：上海交通大学 徐汇校区 安泰经济与管理学院A303

内容简介:

Drawing on real options and resource dependence theories, this study examines how firms adjust their innovation investments to address trade policy effect uncertainty (TPEU), a type of firm specific, perceived environmental uncertainty capturing managers’ difficulty in predicting impacts of potential policy changes on business operations. We apply BERT, an advanced deep learning technique, to analyze the texts of mandatory management discussion and analysis sections of annual reports from 3181 publicly listed Chinese firms spanning the years 2007 to 2019. The econometric analyses show that firms experiencing higher TPEU will reduce innovation investments. This effect is stronger for firms facing lower competition, involving more foreign sales, and not owned by the state. These findings provide clarity on previously inconclusive results by showcasing the significant influence of policy effect uncertainty, as opposed to state uncertainty, on firms' decisions regarding innovation investments. Additionally, these findings underscore the importance of resource dependence factors as crucial contextual factors in this decision-making process.

演讲人简介：

Daniel Chen is the Randall W. and Sandra Ferguson Endowed Professor in the Department of Information Systems and Business Analytics of the Hankamer School of Business at Baylor University. His research addresses the overall question of how information systems can improve organizational decision-making at both strategic and operational levels. His research has appeared or is forthcoming in several leading management journals such as Information Systems Research, Journal of the Association for Information Systems, Journal of Management Information Systems, Journal of Operations Management, MIS Quarterly, among others.

Chen has served on the editorial boards of several high-quality academic journals. Currently, he is a senior editor for Journal of the Association for Information Systems, and an associate editor for Journal of Operations Management and Decision Sciences Journal.

欢迎广大师生参加!