【Mingli lecture 2022, Issue 17】

Time: April 7 (Thursday) 2:30-4:00 pm

Tencent conference number: 751465222

Speaker: Assistant Professor Zhao Jianyu of Central University of Finance and Economics

Speaker Profile:

Zhao Jianyu, Assistant Professor of the School of Accounting, Central University of Finance and Economics, Ph.D., Guanghua School of Management, Peking University. His research interests are the intersection of information disclosure, tax policy, corporate finance and labor economics. Academic achievements have been published in first-class journals at home and abroad such as "Economic Research", "Management World", "Nankai Management Review", "Accounting Research", "Financial Research", Journal of Management Accounting Research and so on. Served as an anonymous reviewer for "Economic Research", "Finance and Trade Economics", "Financial Research", and China Finance Review International.

Introduction to the report:

We examine whether and how bank interventions affect workplace safety through debt covenant violations. Debt covenant violations allocate control rights to creditors, allowing banks to intervene with corporate policies and decisions. By conducting a regression discontinuity design, we find that bank interventions significantly reduce workplace injuries and improve workplace safety. The effect is more pronounced when firms have limited inputs into safety and burdened workload before the violations, when firms have powerful labor unions, when firms are financially constrained, or when the bank intervention is from relationship banks. Our findings provide strong evidence that creditors play a role in shaping workplace safety and improving overall employee welfare.

(Organizer: Department of Accounting, Research and Academic Exchange Center)