一、报告题目
　　The value of relationship banking: Evidence from interbank liquidity crunch in China
　　二、报告人
　　柏艺益，中南财经政法大学助理教授，荷兰蒂尔堡大学金融学博士，研究领域为实证银行学。
　　三、报告时间
　　2016年4月26日（周二）下午3:00-4:30
　　四、报告地点
　　知新楼B423聚贤报告厅
　　五、报告摘要
　　Using an event study of the interbank liquidity crunch in June 2013 in China, we investigate how lending relationships affect the market reactions of the borrowing firms during the interbank liquidity crunch. We find that firms with lending relationships with banks (i.e. firms whose largest lender of long-term loans are banks) outperform others in the stock market. Lending relationships with local banks are associated with lower firm CARs, while lending relationships with big 4 banks do not have any significant effect. We also find a positive correlation between firms’ stock performances and their banks’ stock performances, as well as banks’ liquidity in interbank market, in particular for those firms whose largest lenders of long-term loans are big 4 banks.
　　六、主办单位
　　山东大学经济学院