3月12日，多伦多大学罗特曼管理学院金融学教授杨立岩应邀为我院做题为“The Rise of Corporate Social Responsibility: When Firms Set Personalized Prices for Network Goods”的讲座，此次讲座于线上举行，中国金融研究院执行院长黄文礼教授主持讲座，参会人数达上百人。

杨立岩教授用 one firm & two consumers的简易模型说明了复杂的问题。报告提出：企业社会责任理论将其与公司的产品市场所联系，表现出了网络效应，即产品对每个消费者的价值随着消费者数量的增加而增加。此外，随着技术的发展，公司可以为每个消费者采用个性化定价。研究表明，这样的公司可以将社会责任作为低产品价格的承诺工具，这有助于克服消费者之间的协调问题。通过这种方式，公司的物质回报增加，支持了“通过做更多的好事来挣更多的钱”的理念。

在讨论互动环节，多名师生踊跃提问发言，杨教授针对相关问题一一耐心解答。即使相隔云端，互动环节的气氛依然热烈。

报告人简介:

Liyan Yang is a Professor of Finance and Peter L. Mitchelson/SIT Investment Associates Foundation Chair in Investment Strategy at the Rotman School of Management, University of Toronto (with a cross-appointment in the Department of Economics). In 2010, Professor Yang received his Ph.D. in economics at Cornell University. His research interests mainly focus on financial markets, asset pricing, and behavioral finance. He is serving as a co-editor at Journal of Financial Markets and Journal of Economic Dynamics and Control. He is a current associate editor at Journal of Economic Theory and Management Science, and a former associate editor at Journal of Finance, Journal of Financial Markets, and Journal of Economic Dynamics and Control. He is a fellow of the Accounting and Economics Society, a fellow of Cornell FinTech Initiative, and a fellow of Luohan Academy. Professor Yang’s research has been published in Journal of Economic Theory, Journal of Financial Economics, Journal of Finance, and Review of Financial Studies, etc. He has received the 2016 JFQA William F. Sharpe Award for Scholarship in Financial Research, the 2016 Bank of Canada’s Governor’s Award, and the 2015 Roger Martin Award for Excellence in Research, among others.