高华声教授论文获得国际A类期刊接受发表，聚焦二板股票市场与创业活动发展丨学术

We examine the role of second-tier stock exchanges in an entrepreneurial context from a global perspective. We construct a country-industry-year panel of global VC-invested startups, and find a significant increase in entrepreneurial activity following the launch of such markets. A causal interpretation is supported by additional tests for staggered difference-in-differences regressions and interacted regressions based on industry-specific dependence on second-tier stock exchanges. We propose a VC exit mechanism that receives empirical support: the launch of second-tier stock exchanges positively predicts (i) VC investment in startups, (ii) VCs’ valuation of startups, (iii) startups’ patenting records, (iv) startups’ IPO likelihood, and (v) startups’ IPO valuation. We find that more startups are created in countries with more VC investment after the launch of such markets. We also find that the effect of second-tier stock exchanges on entrepreneurial ventures increases with financial resources, human capital, and intellectual property protection.

自办学以来，学院已经有39位教授共181篇论文先后被国际著名学术期刊接受发表，其中128篇学术论文被国际A类（含A+、A、A-）期刊接受发表。学院师资团队秉承“复旦国金同心 卓越责任创新”的院训，全身心地投入学院学术研究工作，学术成果从数量到质量始终保持高位水平，充分反映出学院师资团队在学术研究领域的卓越实力。未来，学院将不断追求国际前沿科研成果，继续为推动一流金融学科和经济学科发展做出更大贡献。