The academic team

    On the afternoon of November 9, Dr. Lai Shaojie of the School of Finance delivered an academic report entitled Judicial independence and corporate innovation: Evidence from the establishment of Circuit Courts for the teachers and students of the School of Finance. Some teachers and doctoral students of the School of Finance participated in the report, and Jiang Chonghui, vice president of the School of Finance, presided over the report.

    Lai Shaojie first expressed his expectation for teachers and graduate students to put forward suggestions on the revision of their papers, hoping to further optimize their papers through this academic exchange.

    He mentioned in his paper that judicial protection, as an important institutional arrangement, ensures the fairness and implementation of laws, contributes to the protection of intellectual property rights, and ensures the signing and implementation of commercial contracts. However, the research on how the judicial quality interacts with the legal environment and affects enterprise innovation is relatively insufficient. In China, innovation has gradually become the first driving force for high-quality economic growth. However, the local government still interferes with the judicial power. The People's Court of China has set up the circuit court since 2015. This paper discusses the impact of judicial quality on enterprise innovation by using the staggered setting of the circuit court in China.

    Lai Shaojie introduces the paper in detail from the research background, literature review, research hypothesis, data acquisition, model establishment, main conclusions, etc. Through research, it is found that the innovation ability of local enterprises will increase after the introduction of the Circuit Court. The establishment of the circuit court has significantly increased litigation risk, reduced financing constraints, and improved corporate governance, thus stimulating innovation output. Importantly, circuit courts have different influences on central state-owned enterprises, local state-owned enterprises and private enterprises. In this paper, a lot of heterogeneity analysis is carried out, and endogenous and robustness are discussed. In general, the thesis supports the theoretical argument that judicial quality promotes enterprise innovation.

    During the exchange and discussion, Jiang Chonghui raised the question: under the condition of strict law enforcement, the tunneling behavior of the management can be reduced, but how does it indirectly affect enterprise innovation? Lai Shaojie explained in detail from three perspectives: litigation risk, financing constraints and corporate governance. The participating teachers and doctoral students of the School of Finance asked questions about the content of the thesis and put forward suggestions on research content and research methods. At the same time, the suggestions fully considered China's special legal environment and legal system.

  The impact of the legal environment on innovation has received extensive attention from the academic community. Lai Shaojie thanked all teachers and graduate students for their suggestions and said that he would continue to optimize his papers and enrich the research content.

(Author/Yang Yujia Author's Unit/Photo Author of School of Finance/Yang Yujia Photo Author's Unit/School of Finance)

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