The 40th Frontier Forum for Digital Technology and Finance

Abstract：

Mutual fund managers with superior supply chain knowledge could concentrate their holdings in vertically related stocks to garner higher performance. Consistent with this hypothesis, funds with more concentrated portfolios along supply chains perform better after controlling for risk and other measures of active management and industry concentration. We further show that funds’ investment mandates act as an institutional constraint, hindering the ability to fully exploit supply chain relationships, leaving money on the table. However, the benefits of fund manager specialization serve as a counterweight to such constraints.

Speaker Introduction：

Bingxuan Lin is currently a Professor of Finance at the University of Rhode Island, USA, and holds a Ph.D. in Finance from Georgia State University, USA. His research areas primarily include corporate mergers and acquisitions, corporate governance, information disclosure, Chinese capital markets, and behavioral finance. He has published over 40 papers in top-tier domestic and international academic journals such as Accounting Horizons, Journal of Corporate Finance, Journal of Accounting and Public Policy, Journal of Business & Economics Research, Journal of Financial Research, International Review of Financial Analysis, Applied Economics, Economic Research Journal, Journal of Management Science, Journal of Financial Research, and Accounting Research. Professor Lin has taught at multiple renowned institutions, including Harvard University, Sun Yat-sen University, and Zhongnan University of Economics and Law. He has served as a Guest Editor for Journal of Accounting and Public Policy and European Journal of Finance, and as a reviewer for international top-tier journals such as Applied Economics, Corporate Governance: An International Review, Journal of Economics and Finance, Journal of International Business Studies, Finance Research Letters, Financial Review, and Journal of Banking and Finance. With extensive teaching and research experience and broad academic influence, he has received numerous awards, including the Best Paper Award from Risk Management and Insurance Review (2008), the Best Paper Award at the Northeast Decision Sciences Institute Conference (2006), the Best PaperAward from Journal of Insurance Issues (2004), and the Best Paper Award at the International Insurance Society Annual Meeting (2003). He has also been honored with the "Outstanding Professor" title by Sun Yat-sen University, Zhongnan University of Economics and Law, Capital University of Economics and Business, and other prestigious institutions.