【讲座时间】2025年11月25日 14:00
【讲座地点】会计学院106室
【讲座主题】Pay Transparency and Risk Appetite: Evidence from Mortgage Lending Decisions
【嘉宾介绍】王征，香港城市大学
Professor Wang is a full professor of Accountancy at City University of Hong Kong. She earned her Ph.D. in Accounting from the University of Maryland, an MSc in Accounting and Finance from the London School of Economics and Political Science, and a bachelor’s degree in Economics (International Finance) from Peking University. Currently, she serves on the Business Studies panel for the ECS/GRF grant schemes of the Research Grant Council under University Grant Committee in Hong Kong, and she is president of the Hong Kong Academic Accounting Association. Previously, she held the position of Associate Vice-President for Strategic Research at City University of Hong Kong from September 2023 to August 2025.
Professor Wang's primary research interests focus on the areas of capital market research, supply chain information spillover, corporate disclosure, and banking. Her work has been published on top journals such as The Accounting Review, Contemporary Accounting Research, Journal of Financial and Quantitative Analysis, Organization Science, and Production and Operations Management. She is an associate editor for The International Journal of Accounting and the Asia-Pacific Journal of Accounting and Economics and also serves on the editorial boards of the Journal of Accounting, Auditing and Finance, and Production and Operations Management.
【内容提要】
This study examines the impact of state-level adoptions of pay transparency laws (PTLs) on mortgage loan origination and performance. PTL adoptions allow coworkers to openly discuss salaries in the workplace. Within the banking sector, mortgage officers typically belong to the lower-ranked income group. Therefore, PTL adoptions can increase mortgage officers’ awareness of their relative pay disadvantage. We thus find that these officers become more aggressive in loan originations and the loans they originated have higher delinquency rates, suggesting a deterioration in loan quality. These effects are stronger in regions with greater income disparities within the banking sector or in those with a more risk-prone culture. Collectively, our findings suggest that pay transparency can increase mortgage bankers’ risk appetite.
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