时间：2025年12月5日（周五）10:00
地点：浙大管院A423会议室
主题：Do Innovators Walk Away? The Talent Cost of Corporate Misconduct
主讲人： Dr. Ruiting Dai， LeBow College of Business, Drexel University
主持人：邵帅副教授，浙江大学管理学院
主讲人介绍：
Ruiting Dai is an assistant professor of accounting at the LeBow College of Business, Drexel University. Ruiting’s research interests include financial reporting and disclosure, regulation, and labor economics in the capital markets.
Ruiting holds a PhD of Accounting from Yale University and a Master of Accounting degree from The Ohio State University, a Master of Public Policy from The University of Chicago, and a bachelor’s degree in economics from Huazhong University of Science and Technology. Ruiting worked as an auditor for KPMG from 2012 to 2013.
摘要：
Inventive human capital is vital to firm innovation and long-term value creation. While prior research has extensively examined the capital market consequences of corporate misconduct, little is known about its impact on human capital—the foundation of organizational knowledge and innovation. This study investigates whether misconduct events affect the retention of corporate inventors, drawing on a novel dataset that links firm-level ESG misconduct to inventor employment histories. We find that inventor departure likelihood rises significantly within two years following misconduct, indicating that such events undermine organizational trust and reduce firms’ attractiveness as employers. The effect is more pronounced among female inventors, highly mobile inventors, and firms operating in more competitive industries. Moreover, inventor departures are associated with subsequent declines in innovation performance, as measured by patent value and citations. By identifying inventor attrition as an overlooked consequence of corporate misconduct, this study broadens the literature beyond financial outcomes and reveals a critical channel through which reputational shocks erode firm value—by weakening the human capital base that sustains innovation and competitive advantage.
