活动安排
时间：2023年12月1日（周五）10:30-12: 00
讲座地点：松江校区2教楼220教室
主 讲 人：卢瑞昌北京大学光华管理学院金融学系副教授
主 持 人：刘春波 副教授
讲座摘要
Utilizing the 2014 Ebola outbreak in the United States, this paper examines the impact of fear on racial disparities in the mortgage market. Even though the risk of infection in the U.S. was low, the fear associated with the outbreak led to an amplified disparity experienced by Black mortgage applicants. Our study employs the geographical distribution of the four diagnosed Ebola cases in the U.S. and algorithm-based lending as a control group to establish a clear association between heightened fear and an increased racial disparity in mortgage approval rates between Black and non-Black applicants. Furthermore, our analysis exposes that this disparity in access to the credit market is intramarginal. Finally, we demonstrate a decline in denial rates after the initial surge, suggesting that loan officers consciously counteract their biases once they are aware of the low risk of infection. Overall, our findings underscore the profound impact of fear as a catalyst for disparity in the mortgage market.
卢瑞昌，北京大学光华管理学院金融学系副教授。毕业于新加坡国立大学商学院金融系，获金融博士学位。研究领域为实证公司金融，具体方向为银行贷款定价和金融机构。曾获得 WFA 2014 年博士突出研究奖(Cubist Systematic Strategies Ph.D. Candidate Award for Outstanding Research), Seventh Annual Conference on Asia-Pacific Financial Markets (CAFM) 最佳论文奖。他的文章发表于Management Science, Journal of Financial and Quantitative Analysis, Journal of Banking & Finance, Journal of Accounting and Public Policy, Economics Letters等外文期刊以及《金融研究》，《中国会计评论》，《金融学季刊》等中文期刊。
承办单位
金融科技与公司财务系
科研与师资发展办公室
