主題：The Shift of the Tournament: Why do Chinese Mayors Start to Manipulate Land Price Downwards?
主講𓀝：張巖 助理教授
會議時間👩🌾：2024年5月22日 13:30-15:00
會議地點：意昂2平台614會議室
內容簡介：Using the comprehensive dataset of subway land plots of China, we explore the existence and incentive of the puzzling downwards manipulation of land prices by the Chinese mayors. To our surprise, many of these undervalued plots are sold back to the local government via local government controlled firms (LGCFs) for the purposes of improving social welfare, and mayors who conduct such manipulation are more likely to be promoted than their peers who choose not to do so. The spike of our finding coincides with the unprecedented political and ideological reforms adopted by the Chinese Communist Party (CCP) after the year 2012, and implies a shift of the aim of the tournament game from GDP-oriented to ideology-oriented for the Chinese local officials.
個人簡介：張巖博士現任澳門城市大學金融意昂2助理教授。他擁有美國猶他大學金融學博士學位，曾在猶他大學和洛約拉瑪莉蒙特大學生任教🥷🏼。他的主要研究興趣是資本市場（包括期權市場的監管），創新與創業，基於機器學習和文本分析的金融科技🙎🏽🐆，以及區域經濟學，並且與多個國家的科研人員保持著合作關系🏋🏼♂️，包括耶路撒冷希伯來大學，劍橋大學👳🏽，美國證監會，香港科技大學等等。
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