【主讲人】刘方舟 助理教授
【主持人】高明 副教授
【报告题目】Crowding Out Innovation

【报告摘要】Using a new measure on product innovation based on the product market impact of new product introductions, I document a long-run effect of widening innovation gap between small and large innovative firms. Large firms launch more breakthrough products while the overall product differentiation declines. Using a difference-in-differences design surrounding the Interstate Banking Deregulation, I provide evidence that small innovative firms decrease innovation when the lending market becomes more competitive and relationship lending diminishes. I also provide evidence that the introduction of breakthrough new products has economically significant impacts on firm market share growth, advertising, and market share.

【主讲人介绍】刘方舟博士于2018年加入上海财经大学，现任金融学助理教授。她本科毕业于香港中文大学，于印第安纳大学获得金融学博士学位。她的研究集中在公司金融和企业创新，尤侧重于金融市场摩擦对产品创新的影响。