北大经院工作坊第1310场
墙的长影：德国分裂对家庭金融决策的文化遗产
The long shadow of the wall: household financial decision making as a legacy of German Separation
北大-清华经济史联合工作坊
主讲人：卢佳男（芬兰瓦萨大学副教授）
主持老师：（北大经院）赵一泠
参与老师：
（北大经院）郝煜、管汉晖、周建波
（北大光华）颜色、李波
（清华大学）徐志浩
时间：2026年6月11日（周四）10：00-11：30
地点：北京大学经济学院305会议室
主讲人简介：
卢佳男，芬兰瓦萨大学 (University of Vaasa) 金融学副教授，博士生导师。获英国爱丁堡大学金融学博士，牛津大学博士后。全英/全欧中国经济学者学会理事。中国经济与商业研究杂志 (Journal of Chinese Economic and Business Studies) 编委，特约主编。数字经济学杂志 (Journal of Digital Economy) 副主编 (数字金融部）。研究涵盖多个领域，包括公司与家庭金融、金融科技、普惠与可持续金融、数字与实验经济学、经济史、创新与包容性发展等。在多个国际合作项目中任首席研究员，并获得多类研究资金支持。研究成果发表于多份国际顶级学术期刊，如《金融中介期刊》（Journal of Financial Intermediation，ABS 4），《研究政策》 (Research Policy， FT50) 等。任多所大学的访问学者，包括爱丁堡大学，朴茨茅斯大学，牛津大学等。
摘要：
Taking the separation and subsequent reunification of Germany as a natural experiment, this paper investigates the enduring effects of cultural norms on household financial decision-making. We find that over three decades post reunification, the ingrained cultural norms of the former communist regime continue to profoundly shape the financial behaviour of East Germans. Relative to their West German counterparts, East Germans exhibit diminished social trust, lower trust in financial markets, and weaker economic confidence, stemming from historical regime changes and social upheaval. This eroded social capital bears profound implications for their financial preferences and behaviours. Consequently, East Germans demonstrate lower participation in financial markets, report weaker perceived financial security, and exhibit a heightened financial reliance on the state. Notably, however, East German women retain significantly greater intra-household financial
bargaining power than Western women—a cultural legacy of communist absolute gender egalitarianism. The robustness and causal validity of these findings are corroborated by an unobservable selection bias test and a dual difference-in-differences approach.
北京大学金融工程实验室
“金工首席谈量化”系列讲座
第51讲：成长股量化分析的核心因子
主讲人：吴先兴，中泰证券研究所所长助理 金融工程首席分析师
主持老师：黎新平（北大经院）
时间：2026年6月11日（周四）19:00-21:00
地点：经济学院107会议室
主要内容：
本次讲座将聚焦成长股量化投资的核心逻辑，深入探讨如何从纷繁复杂的市场数据中提炼出驱动成长股超额收益的关键因子。讲座将围绕多维成长因子框架，分享如何从盈利、现金流、资本投入、营运效率及议价能力等多个维度构建更具稳健性的成长股量化策略。同时，讲座还将探讨成长因子在不同市场环境下的周期表现与行业差异，建立从因子挖掘、检验到组合优化的完整量化研究思维，以及机器学习算法及大语言模型在成长股因子构建中的应用，为成长股投资提供兼具理论深度与实战价值的分析框架。
主讲人简介：
吴先兴，中泰证券研究所所长助理，金融工程首席分析师，上海财经大学数量经济学硕士。历任海通证券金融工程分析师、金融工程部经理、首席分析师，2016年12月加入天风证券，任金融工程组首席分析师。2014-2016均作为核心成员上榜新财富，2013年作为核心成员获新财富评选金融工程方向第一名，2019年获新财富评选金融工程方向第四名。曾获中国保险资产管理业最受欢迎卖方分析师金融工程领域第四名(2018)、水晶球金融工程及衍生品领域第三名(2018、2020)、Wind金牌分析师金融工程领域第一名(2018、2019)，上海证券报最佳金融工程分析师第二名（2020年）、21世纪金牌分析师金融工程及衍生品方向第一名（2023年）。
北大经院学术午餐会第211期
Post-Study Work Visa, Global Graduate Education and Skilled Immigrant Employment
主讲人：马张弛（杜克大学博士候选人）
主持老师：高明（北京大学经济学院长聘副教授）
时间：2026年6月12日（周五）12:30-14:00
地点：北京大学经济学院107会议室
主讲人简介：
Zhangchi Ma (马张弛) is a PhD candidate at Duke University. His primary research interests lie in labor economics, with a particular focus on education economics. He employs a range of empirical methods, including structural estimation, quasi-experimental causal inference, and the collection of subjective expectations data. He received his bachelor’s degree from Peking University in 2019.
摘要：
We study how tightening post-study work visa policy jointly shapes international students' decisions of where to study and where to work. We leverage the 2012 UK visa reform, which abolished a two-year unconditional post-study work visa in an effort to curb visa abuse in low-skilled sectors, to study its impact on international master's students from India, one of the largest source countries. Using a novel panel of longitudinal LinkedIn profiles, we apply the Diff-in-Diff method and identify a significant decline in U.K. master's enrollment from Indian students. We then develop a two-stage dynamic model of education and post-graduation work choices. Based on the model, we decompose the decline in high-skilled retention: 68% is attributable to the direct rise in search and hiring friction for graduate-level jobs, and 32% is due to an indirect deterrence effect on the educational enrollment margin. Our results highlight that a reform targeting low-skilled employment can create negative spillovers, substantially raising high-skilled hiring frictions and reducing the retention of global talent.
供稿：科研与博士后办公室
美编：雨田
责编：度量、雨禾、初夏
