主题：To Acquire or to Ally? Foreign Competition and Firm Boundary
主讲人：徐方明 英国布里斯托大学
主持人：李丽芳 暨南大学
时间：2025年11月13日（周四）上午10:00
地点：暨南大学石牌校区经济学院大楼（中惠楼）102室
摘要
This study examines how foreign competition influences firms’ external growth strategies. Exploiting staggered U.S. import tariff reductions as a quasi-natural experiment, we find that heightened competition drives firms’ preferences toward forming strategic alliances. This shift is more pronounced for firms with limited financial or operational flexibility, weaker competitive positions, and those operating in low-entry-barrier industries. Under competitive pressure, firms preferentially form alliances with partners in the same industry as well as in high-tech, business-to-consumer (B2C), and product-differentiated sectors. In the long term, alliance-focused firms exhibit higher R&D intensity and patent outputs. Overall, the study highlights how domestic firms reshape external growth choices, partner selection, and long-term innovation outcomes in response to global competition shocks.
主讲人简介
徐方明教授是英国布里斯托大学商学院金融学教授，并担任国际合作主任。他的研究领域涵盖公司金融、金融市场与运营管理，尤其关注企业兼并与收购、公司治理、可持续发展及供应链管理等主题。徐教授学术成果卓著，在Journal of Operations Management、Production and Operations Management、Journal of Financial and Quantitative Analysis、Review of Finance等国际顶级金融与管理学期刊发表二十余篇论文，并主持及参与多个重要科研项目与国际学术会议。
欢迎感兴趣的师生参加！
校对| 李丽芳
责编| 彭毅
初审| 李丽芳
终审发布| 何凌云
（来源：暨南大学经济学院微信公众号）
