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VERSION:2.0
PRODID:-//AMSE//Event Calendar//FR
CALSCALE:GREGORIAN
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UID:event-8750@amse-aixmarseille.fr
DTSTAMP:20260416T152047Z
CREATED:20260416T152047Z
LAST-MODIFIED:20260416T152047Z
STATUS:CONFIRMED
SEQUENCE:0
SUMMARY:finance seminar - Xingwang Qian
DTSTART:20220111T133000Z
DTEND:20220111T133000Z
DESCRIPTION:We examine the effects of active international reserve manageme
 nt (IRM) conducted by central banks of emerging market economies (EMEs) on 
 firm investment in the presence of global financial shocks. Using firm leve
 l data from 46 EMEs from 2000 to 2018\, we document four findings. First\, 
 active IRM positively affects firm investment - the effect strengthens with
  the magnitude of adverse external financial shocks. Second\, financially c
 onstrained firms\, compared with unconstrained ones\, are less responsive t
 o active IRM. Third\, our results suggest that the country credit spread is
  a plausible causal channel of the positive IRM effect on firm investment. 
 Fourth\, the policies of capital controls and exchange rate managements are
  complementary to the IRM – it is beneficial to form a macro policy mix i
 ncluding active IRM to safeguard firm investment against global financial s
 hocks. Further\, our results indicate the IRM effect on firm investment is 
 both statistical and economical significance and is relevant to the aggrega
 te economy.\\n\\nContact: Eric Girardin : eric.girardin[at]univ-amu.frChris
 telle Lecourt : christelle.lecourt[at]univ-amu.fr\n\nPlus d'informations: h
 ttps://amse-aixmarseille.fr/fr/evenements/xingwang-qian
LOCATION:MEGA - Salle Carine Nourry\, 424\, Chemin du Viaduc\, 13080 Aix-en
 -Provence
URL;VALUE=URI:https://amse-aixmarseille.fr/fr/evenements/xingwang-qian
CONTACT:Eric Girardin : eric.girardin[at]univ-amu.frChristelle Lecourt : ch
 ristelle.lecourt[at]univ-amu.fr
TRANSP:OPAQUE
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