报告题目：Not Coming Home: Trade and Economic Policy Uncertainty in Global Production Networks
报 告 人：吴靖
报告时间：2019年9月23日，13:00—15:00
报告地点：博学楼I206
主办单位：现代供应链管理研究院
【报告人简介】
吴靖，男，任香港中文大学决策科学和企业管理学系助理教授，香港-深圳联合金融研究中心执行委员会委员。吴靖教授于芝加哥大学布斯商学院获得博士（主修运营管理，辅修金融经济）与MBA学位，清华大学电子系获得工学学士学位。他的主要方向是运营与金融、经济网络、商业大数据，论文在MSOM等期刊上发表。在来香港工作之前，他在纽约的德意志银行担任量化策略分析师。
【报告摘要】
We show U.S. trade and economic policy uncertainty (EPU) predict precautionary actions in the global value chains of American companies. Spikes in foreign economic policy uncertainty introduces a negative wealth impact that propagates up to three tiers among U.S. domestic firms. Increases in foreign country EPU is also correlated with a higher propensity that an American firm exits a particular country. However, rather than bring production home, higher American trade policy uncertainty is associated with a tilt of both production and customer bases abroad. Looking within a firm-foreign country pair, we also find foreign policy uncertainty is related to a decrease in supply chain relationships in that country. Firms for which production shocks would be more severe appear to engage in more precautionary supply chain behaviour as well as those that are more central to the global production network.
