The academic team

On the afternoon of May 13, the 85th academic lecture of the Jiao Hu Financial Forum series was successfully held in the West Conference Room on the 2nd Floor of the School of Finance. Professor Li Ping from the School of Economics and Management at the University of Electronic Science and Technology of China was invited to deliver an academic lecture titled Short-Selling Mechanism and Opportunistic Share Reduction: Check-and-Balance or Catalysis? — Empirical Evidence Based on the Margin Trading and Short-Selling System to teachers and students of the School of Finance. The lecture was hosted by Du Jiangze, Vice Dean of the School of Finance, and attended by some teachers and students of the school.

Starting from the research background of the short-selling mechanism’s pilot launch and subsequent expansion, Li Ping sorted out the development history of share reduction policies, introduced domestic and international research perspectives on the relationship between the short-selling mechanism and executives’ share reduction, and put forward research hypotheses together with his team. The study improved the measurement method of opportunistic share reduction, and data analysis showed that the short-selling mechanism catalyzes executives’ opportunistic share reduction, leading to a significant increase in the related amount, frequency and value. Further analysis indicated that the catalytic effect is more prominent in companies with financial restatements or co-existing major shareholders, while reasonable executive compensation incentives can mitigate this effect; in companies with a high proportion of institutional investor shareholding or a high proportion of long-term liabilities, the catalytic effect will be weakened.

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Finally, the lecture entered the interactive exchange session. Teachers and students at the scene actively asked questions regarding the practical application of the research results and future research directions. Li Ping listened patiently and answered each question one by one with professional and clear expressions based on his own research and practical experience, providing ideas for teachers and students’ subsequent research and study.