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应我校经济与管理学院和科研处邀请，香港城市大学Yangyang chen教授将于7月17日为我校教师做学术讲座，欢迎广大教师参加！报告的具体安排如下：

报告主题：Sunlight Disinfects: Beneficial Ownership Transparency and Illicit Financial Activities

报 告 人：Yangyang Chen（City University of Hong Kong）

报告时间：2026年7月17日（周五）上午9:00-11:00

报告地点：雁塔校区1403

报告摘要：Leveraging the federal implementation of the Corporate Transparency Act, we evaluate the effectiveness of mandatory ownership transparency on curbing illicit financial activities. Exploiting a novel dataset of suspected illicit fund flows reported by financial institutions, we gauge the intensity of illicit financial activities at the county-month level and employ a triple-difference approach to identify the impact of ownership transparency on targeted categories of financial activities (vis-à-vis non-targeted categories) in states allowing ownership anonymity (vis-à-vis non-anonymous states). We find that mandatory ownership transparency reduces targeted illicit fund flows by 9.24%. This effect appears stronger in counties with higher ex ante exposure to corporate illicit activities, consistent with effective deterrence. The effect is also more pronounced in counties with greater enforcement capacity and more active local media, underscoring that government enforcement and public scrutiny foster deterrence. Further analyses reveal that after the mandate, illicit actors substitute payment instruments subject to close regulatory oversight for less-regulated ones. Finally, we show that ownership transparency discourages business entries but improves established firms’access to credit financing. Overall, our study provides initial evidence on the effectiveness of ownership transparency in curbing illicit finance and sheds light on the ongoing policy debate.

报告人简介：Yangyang Chen is Chair Professor and Head of the Department of Accountacy at City University of Hong Kong. He received his PhD from University of Melbourne. His research interests are in corporate finance and financial accounting, including corporate disclosure,management compensation, corporate innovation, audit quality and pricing, earnings management and so on. His works have been published in The Accounting Review, Journal of Accounting Research, Journal of Financial Economics, Management Science, Journal of Financial and Quantitative Analysis, Contemporary Accounting Research, Review of Accounting Studies, Journal of Management Studies etc. He is currently the Editor-in-Chief of China Journal of Accounting Research, Co-Editor of Journal of Contemporary Accounting and Economics, and Editorial Board Member and Ad-hoc Editor of Contemporary Accounting Research.

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经济与管理学院   

科研处         

2026年7月14日