报告题目：Private Safe Debt and Public Safe Asset: A Balance Sheet Design Perspective
报告人： 王宏 博士（南京审计大学）
时间：2023年10月12日12:30-14:00
地点：管理学院A南304
报告内容摘要：
Informed speculation in the secondary market has a significant impact on the originator's portfolio selection and the optimal design of the securities backed by the cash flows from that portfolio in the primary market. In a normal economic environment, where the substitution effect between the public supply of safe assets and the private supply of safe debts dominates, a laissez-faire market equilibrium is socially optimal, thus obviating the need for any government intervention policy. However, when the endowment shock or risk aversion is sufficiently large (small), the complementary effect between the two dominates, and the government needs to induce an increase (decrease) in the private supply of safe debts by increasing (reducing) the public supply of safe assets, thereby increasing overall social welfare.
【王宏教授个人简介】
王宏博士，南京审计大学教授，主要研究方向：（1）资产证券化与证券设计；（2）金融科技与风险管理。江苏省首届社科优青，国际（澳门）学术研究院兼职研究员，教育部学位中心专家，江苏省发改委评审专家，江苏省科技评估中心专家。作为负责人主持国家自科基金（2项）、国家社科基金（1项）、教育部人文社科项目、澳门基金会项目多项；在European Journal of Operational Research（3篇，独立作者）、Journal of Economics、《管理科学学报》、《中国管理科学》等国内外权威期刊发表高水平论文多篇；担任主笔人之一完成的资政报告先后被国务院内参和新华社内参录用。研究成果多次获得省部级各种荣誉和奖励。
欢迎有兴趣的教师，全体博士生、硕士生参加。
管理学院人才办公室
2023-10-8
