讲座人：Yue Zhang

讲座主题：Earnings Performance of Major Customers and Bank Loan Contracting with Suppliers

摘要：Using a sample of 3,708 loan facility–years for supplier firms that have financial data on their major customers during the period 1995–2011, this study investigates whether banks take into account the earnings performance of major customers when setting the price and nonprice terms of loans to the supplier firms. We find that banks tend to offer more favorable loan contracting terms to supplier firms whose major customers have better earnings performance. More importantly, we find that the effect of major customers’ earning performance on loan contracting terms is weaker for the borrowers with prior relationships with banks, while it is stronger for the borrowers that have large relationship-specific investment and are highly dependent on their major customers. Our results suggest that banks take into account major customers’ earnings performance when contracting with supplier firms, and the informativeness of customer earnings to banks varies with the nature, strength, and attributes of the customer–supplier relationships.

讲座时间：2014年10月18日，周六，14:00开始

讲座地点：学院南路校区主教学楼十层1011会议室

讲座人简介：Yue Zhang（张玥），2000年本科毕业于南开大学；2009年毕业于The University of Texas at Dallas，获得会计学博士学位。现任香港城市大学会计学系助理教授。研究成果被接受发表于Review of Accounting Studies以及Production and Operations Management。

本次论坛参加人员范围：bwin体育必赢教师、博士生、本硕博连读生以及本科生学术创新实验班成员。