講座人：Yue Zhang

講座主題：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.

講座時間：2014年10月18日，周六，14:00開始

講座地點：學院南路校區主教學樓十層1011會議室

講座人簡介：Yue Zhang（張玥），2000年本科畢業于南開大學；2009年畢業于The University of Texas at Dallas，獲得會計學博士學位。現任香港城市大學會計學系助理教授。研究成果被接受發表于Review of Accounting Studies以及Production and Operations Management。

本次論壇參加人員範圍：會計學院教師、博士生、本碩博連讀生以及本科生學術創新實驗班成員。