主讲人简介：阴慧芳教授是上海财经大学会计学院副教授，2007年本科毕业于天津大学工商管理专业，2011年获新加坡南洋理工大学会计学博士学位。阴教授在Journal of Accounting and Economics、Journal of Accounting Research、Journal of Accounting, Auditing and Finance、Review of Accounting Studies等国际高水平会计学领域发表论文多篇。阴教授研究领域为分析师、公司治理等。
讲座内容：We examine whether group interactions among the top management team (TMT) affect firm performance. Building on the notion that linguistic styles correspond to cognitive thinking styles and personalities, we leverage off a unique dataset comprising top executives’ usage of function words in earnings conference calls and construct linguistic style matches (LSM) among the top management team. We find that firms with lower degrees of LSM exhibit improved firm performance; greater market reactions to significant tangible asset investments; greater market reactions to merger and acquisition announcements; and lower degree of over-investments. Further analyses confirm that above findings are more likely to result from differences in individual attributes among executives. Employing quasi-exogenous executive turnover as plausibly shocks to LSM, we establish a causal effect of LSM on firm performance. Collectively, our findings suggest that corporate decisions and firm performance improve when decision-makers are more likely to exhibit distinctive styles.