主题：Delving or Courting: The Motivations Behind Fund-Broker Joint Company Visits
主讲人：丁婧 同济大学
主持人：刘语 暨南大学
时间：2025年12月18日（周四）下午14:30
地点：暨南大学石牌校区经济学院大楼（中惠楼）403室
摘要
This paper investigates whether joint company visits between fund managers and brokers are driven by information acquisition or relationship maintenance. Using commission payments as a proxy for pre-existing fund–broker ties, we show that stronger relationships reduce the information-acquisition efficiency of co-visits, consistent with a relationship-driven motive. Exploiting a 2023 commission-cap policy as a natural experiment, we find that low-commission brokers shift from analyst-led to manager-led visits, while high-commission brokers reduce analyst interactions but maintain manager visits. These heterogeneous responses highlight the dominance of relationship-driven incentives and reveal how regulatory constraints reshape brokers’ strategic visitation behavior.
主讲人简介
丁婧，同济大学经济与金融系，副研究员。在国内外期刊发表论文多篇，包括《管理科学学报》、American Economic Review: Insights、Management Science、Journal of Financial and Quantitative Analysis、Journal of Economic Dynamics and Control，主持国家自然科学基金一项。
欢迎感兴趣的师生参加！
校对| 刘语
责编| 彭毅
初审| 陈创练
终审发布| 何凌云
（来源：暨南大学经济学院微信公众号）
