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106%u4eba%u6587%u8207%u793e%u6703%u79d1%u5b78%u7c21%u8a0a%u300026 %u5377 2 %u671f%uff0e114 %u5e74 3 %u6708%u5716%u4e00%uff1a%uff08%u5de6%u8d77%uff09%u7b46%u8005%u3001%u6307%u5c0e%u8001%u5e2b%u6c88%u4e2d%u83ef%u6559%u6388%u8207 Iftekhar Hasan %u6559%u6388%u5728%u81fa%u7063%u6703%u5f8c%u5408%u5f71%u4e8c%u3001%u526f%u6559%u6388%u968e%u6bb5%u5efa%u8b70%u53ef%u4ee5%u5c0b%u6c42%u7d93%u9a57%u8c50%u5bcc%u7684%u6d77%u5916%u570b%u969b%u5b78%u8005%u7684%u8de8%u9818%u57df%u5408%u4f5c%uff0c%u85c9%u7531%u8207%u6d77%u5916%u5b78%u8005%u7684%u8de8%u9818%u57df%u5408%u4f5c%uff0c%u63d0%u5347%u81ea%u8eab%u7684%u5b78%u8853%u80fd%u529b%u8207%u7814%u7a76%u984c%u76ee%u7684%u638c%u63e1%u5ea6%u3002%u4ee5%u7b46%u8005%u70ba%u4f8b%uff0c%u5728%u526f%u6559%u6388%u6642%u671f%u6709%u5e78%u53ef%u4ee5%u8207%u9999%u6e2f%u5927%u5b78%u91d1%u878d%u7cfb%u6797%u5247%u541b%u6559%u6388%u5408%u4f5c%uff0c%u5728%u8207%u4ed6%u5408%u4f5c%u7684%u904e%u7a0b%u4e2d%uff0c%u4e0d%u4f46%u63d0%u5347%u4e86%u6211%u7684%u8de8%u9818%u57df%u601d%u8003%uff0c%u4e5f%u63d0%u5347%u4e86%u570b%u969b%u5b78%u8853%u601d%u7dad%u3002%u5176%u4e2d%u6210%u529f%u7684%u4f8b%u5b50%u70ba%u7b46%u8005%u5728%u4ee5%u4e0b%u671f%u520a%u7684%u767c%u8868%uff1aJournal of Banking and Finance%uff08Bui, Chen, Hasan, & Lin, 2018%uff09%u3001Journal of Corporate Finance%uff08Lin, Tsai, Hasan, & Tuan, 2018%uff09%u3001Journal of International Money and Finance%uff08Bui, Chen, Lin, & Lin, 2021%uff09%u3001Journal of Business Ethics%uff08Chen, Hasan, Lin, & Ngoc Vy, 2021%uff09%u3001Journal of Money, Credit and Banking%uff08Ho, Lin, & Lin, 2022%uff09%u3001Journal of Banking and Finance%uff08Bui, Chan, Lin, & Lin, 2024%uff09%u8207 Journal of Empirical Finance%uff08Lu, Lin, Lin, & Miao, 2024%uff09%u3002%u5982%u679c%u6c92%u6709%u6797%u5247%u541b%u6559%u6388%u8207 Iftekhar Hasan %u7684%u6307%u5c0e%u8207%u5efa%u8b70%uff0c%u9019%u4e9b%u6587%u7ae0%u7686%u4e0d%u53ef%u80fd%u6210%u529f%u767c%u8868%u3002%u4e09%u3001%u6559%u6388%u968e%u6bb5%u5728%u5b78%u8853%u601d%u7dad%u8f03%u6210%u719f%u4e4b%u5f8c%uff0c%u5efa%u8b70%u53ef%u4ee5%u5e36%u9818%u535a%u58eb%u73ed%u5b78%u751f%u8207%u6d77%u5916%u570b%u969b%u5b78%u8005%u9032%u884c%u4ea4%u6d41%u8207%u5408%u4f5c%uff0c%u85c9%u7531%u8207%u6d77%u5916%u5b78%u8005%u7684%u5408%u4f5c%uff0c%u53ef%u4ee5%u63d0%u5347%u81ea%u8eab%u7684%u7814%u7a76%u5718%u968a%u7684%u5b78%u8853%u80fd%u529b%u8207%u7814%u7a76%u984c%u76ee%u7684%u638c%u63e1%u5ea6%u3002%u4ee5%u7b46%u8005%u70ba%u4f8b%uff0c%u5728%u6559%u6388%u6642%u671f%u6709%u5e78%u53ef%u4ee5%u5e36%u9818%u5b78%u751f%u8207%u9999%u6e2f%u5927%u5b78%u91d1%u878d%u7cfb%u6797%u5247%u541b%u6559%u6388%u4ee5%u53ca Fordham University %u7684 Iftekhar Hasan %u5408%u4f5c%uff0c%u5728%u8207%u4ed6%u5011%u5408%u4f5c%u7684%u904e%u7a0b%u4e2d%uff0c%u4e5f%u63d0%u5347%u81ea%u8eab%u7684%u7814%u7a76%u5718%u968a%u7684%u570b%u969b%u5b78%u8853%u601d%u7dad%u3002%u5176%u4e2d%u6210%u529f%u7684%u4f8b%u5b50%u70ba%u7b46%u8005%u5728%u4ee5