正午阳光——青年学者论坛
2022年秋季学期 “正午阳光——青年学者论坛”第一期活动安排如下：
讲座题目：
How does Catastrophe Risk Securitization Affect the Reinsurance Market?
巨灾风险证券化如何影响再保险市场？
主讲人：
赵洋，南开大学金融学院副教授。研究方向包括保险与风险管理、金融中介、公司金融。
点评人：
师与，南开大学金融学院助理教授。加州大学洛杉矶分校安德森商学院金融学博士，研究主要集中在宏观金融、金融中介和Fintech等方面。
内容摘要：
This research provides evidence on the relationship between catastrophe (Cat) bonds and reinsurance. Cat bonds substitute for traditional reinsurance contracts in the hard reinsurance market, but not in the soft market. When decomposing the total reinsurance usage into internal and external reinsurance, Cat bonds have a significantly positive (complementary) effect on external reinsurance but an opposite (substitution) effect on internal reinsurance in the hard market. The complementary effect on external reinsurance only exists for insurers with a high insolvency risk. Using Cat bonds to transfer catastrophe risk substitutes not only the use of Cat reinsurance but also non-Cat reinsurance in the hard market, implying Cat bonds reduce a ceding insurer’s diversification in both Cat and non-Cat lines of business in the reinsurance market.
讲座时间：
2022年9月22日（星期四），中午12：00
腾讯会议：
136-594-177
腾讯会议二维码：
2022年秋季学期 “正午阳光——青年学者论坛”第二期活动安排如下：
讲座题目：
Intangible Capital and Biodiversity Finance
主讲人：
师与，南开大学金融学院助理教授，博士毕业于加州大学洛杉矶分校安德森商学院，研究兴趣主要集中在宏观金融和金融中介等方面。
内容摘要：
In this seminar, Yu Shi will share her experiences participating top in-person finance conferences in the summer of 2021. In particular, she will discuss the keynote speech on intangible capital by Andrea Eisfeldt (distinguished chair professor of finance at UCLA Anderson) at Cavalcade. The growing important of intangibles have draw our attention to two key questions: what is the best way to measure and model this new type of capital. Andrea answers these questions by providing 3 complementary measure of intangible capital and use production based model to emphasize the importance of intangibles. Understanding intangible capital has great importance in capital structure and Solow residuals. Yu will also discuss the keynote speech on biodiversity finance by Andrew Karolyi (distinguished professor of management at Cornell SC Johnson) at the WFA. Biodiversity conservation will eclipse climate change risk mitigation and adaption as the next grand challenge for sustainable finance. Andrew shares his enthusiasm in biodiversity finance and encourage researchers to dive deep into this area.
讲座时间：2022年9月29日（星期四），中午12：00
腾讯会议：852-147-294
腾讯会议二维码：
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