报告题目（一）：Supervisory Technology and Capital-Relief Contracting: Evidence from Reinsurance
报告人：张旋
时 间： 2026年11月4日（周三）下午2:30-4:30
地 点： 西安交通大学创新港涵英楼8121会议室
报告人简介：
张旋，南京航空航天大学经济与管理学院教授，主要研究方向为金融风险、公司金融与金融科技。在Journal of Banking & Finance、Journal of Financial Markets、Journal of International Money and Finance、Journal of Economic Behavior & Organization等期刊发表论文近50篇。主持国家自然科学基金、工信部等科研项目，决策咨询成果获党和国家主要领导人批示。现兼任江苏省资本市场研究会理事、南京数字金融智库专家，以及International Review of Financial Analysis、Finance Research Letters、Economics & Politics等期刊副主编，并担任多家学术期刊客座主编。
摘要：
Financial regulation changes not only how much risk financial institutions transfer but also which intermediaries use capital-relief contracts. We study the United Kingdom's transition toward individualized insurance-capital assessment and its consequences for reinsurance. In a difference-in-differences design with insurer-specific trends, high-default-risk insurers reduce reinsurance cession by approximately 8 percentage points relative to low-risk insurers, or 17 percent of their pre-reform mean. Holding insurer scale fixed, the high-risk group's share of cession exposure declines by approximately 16 percentage points. Historical group reinsurance capacity also predicts variation in the response. An equilibrium model shows how more precise supervisory recognition of economic risk transfer changes the private value of capital relief, leading to heterogeneous contract demand and a reallocation of activity across intermediaries. The findings highlight the allocation of financial contracts as an important margin of adjustment to supervisory change.
报告题目（二）：Monetary Policy and Bank Lending Behaviour: The Role of Wealth Management Products
报告人：Sushanta Mallick
时 间： 2026年11月4日（周三）下午4:30-6:30
地 点： 西安交通大学创新港涵英楼8121会议室
报告人简介：
Sushanta Mallick is a Professor of International Finance at the School of Business and Management, Queen Mary University of London, UK.He servesas Managing Editor of Oxford Economic Papers,co-editor-in-Chief of Journal of Economic Surveys and co-editor of Economic Analysis and Policy. Prof. Mallick holds a PhD in economics from the University of Warwick, UK, and has published over 100 peer-reviewed articles in leading academic journals. His research focuses on international economics, banking & finance, and innovation & development. According to the IDEAS/RePEc rankings, he is among the top 5% of economists globally. His work has received over 8,000 citations on Google Scholar, with an h-index of 53. His research has been featured in numerous high-impact journals such as: Journal of Econometrics, Journal of Corporate Finance, European Journal of Operational Research, Research Policy, Industrial Relations, British Journal of Management, British Journal of Industrial Relations, Economic Theory, Journal of Development Economics, Journal of Banking & Finance, Journal of Economic Behavior & Organization, Oxford Bulletin of Economics & Statistics, IMF Economic Review, Cambridge Journal of Economics, Journal of International Money and Finance, World Development, among others.
摘要：
This paper examines how banks adjust their lending behaviour in response to monetary policy changes. Using a bank–firm loan-level dataset and a difference-in-differences framework, we disentangle credit supply from demand effects. We find that, following reductions in reserve requirements, banks overall reduce lending to riskier firms. However, this average effect masks substantial heterogeneity: banks with greater reliance on Wealth Management Products (WMPs) increase lending to riskier borrowers after monetary easing. We interpret this as evidence of a yield-search mechanism, as WMP funding is more costly than traditional deposits, incentivising banks to seek higher returns through riskier loans. To address concerns about policy endogeneity, we exploit monetary policy surprise shocks and obtain consistent results. Overall, the findings highlight the importance of bank liability structures in shaping risk-taking responses to monetary policy, with implications for financial stability.
