2021年11月3日晚23:00，由华南师范大学国际商学院与英国阿伯丁大学商学院联合主办的系列国际学术论坛首场顺利在线举行，双方师生积极参加。此次讲座邀请到国际商学院李少育副教授，做了题为“Competition, Rating Shopping and Yield Spread: Evidence from Chinese Enterprise Bond Market”的学术报告。讲座由英国阿伯丁大学Yuanyuan Zhao老师主持。

讲座的主要内容是：“Booming markets are a time of high returns and high risk, including the risk of misrepresenting the quality of an investment. The Chinese bond market has recently been going through a boom period, and we document evidence of ratings shopping in the enterprise bond market. Our evidence shows that some firms get higher credit ratings than they should, resulting in a lower cost of debt financing. We also find that investors become aware of this after multiple financing rounds and punish all clients of the ratings inflators, resulting in a lemons market in bonds for certain firms”。

讲座结束后，英国阿伯丁大学Vu Huong老师对论文中的内容与方法提出一些疑问与建设性意见，李少育老师针对问题进行了一一解答。此次学术报告不仅进一步扩展了广大师生的学术视野，增进了两校的学术交流，营造了良好学术氛围，使得我院中英合作办学进一步深化。

撰稿：李少育

图片：吴幸莼