服务科学与运营管理学系学术讲座

【主讲题目】Shareholder value effects of the Volkswagen emissions scandal on the automotive ecosystem

【主讲人】Vinod Singhal 教授,美国佐治亚理工学院

讲座信息

时间：2021年11月15日（周一）上午10:00 -12:00

参与方式：ZOOM会议（ID：935 6048 9231，密码：375983）

主持人：寿涌毅 教授，浙江大学管理学院

主讲人简介

Vinod Singhal is the Charles W. Brady Chair Professor of Operations Management at the SchellerCollege of Business at Georgia Institute of Technology, Atlanta, USA.He is a Departmental Editor of Production and Operations Management, and Associate Editor of Journal of Operations Management, and Management Science. He is on the Academic Advisory Board of the European School of Management and Technology, Germany. Vinod’s research has focused on the impact of operating decisions on accounting and stock market-based performance measures. He has published extensively in academic journals including Journal of Operations Management, Management Science, Manufacturing and Service Operations Management, and Production and Operations Management.

讲座摘要

In this talk, Professor Vinod Singhal will share his study on the empirical evidence on the effect of the September 2015 Volkswagen diesel emissions scandal on the stock prices of publicly traded firms in the global automotive ecosystem. Focus on the supply chain partners, business customers of VW, and other manufacturers not identified as VW suppliers; and wholesalers, retailers, and rental agencies not identified as VW customers. They find that tier-1 suppliers of direct material to VW suffered a negative stock price reaction, but this effect varied by region. European suppliers were the most impacted with a mean stock price reaction of ‒5.52%. Suppliers with larger revenue dependence on VW experienced greater negative stock price reactions, as did suppliers of components for engines and/or emissions systems. Non-VW parts manufacturers experienced a positive effect. We find a mean stock price reaction of ─5.28% to VW’s European customers, but no significant effects for non-VW customers. European motor vehicle manufacturers experienced a mean stock price reaction of ‒7.60%. Their work has implications for industry groups, regulators, and legal systems, entities that have the resources and capabilities to effectively monitor large firms to reduce illegal or irresponsible behavior such as the VW scandal.

信息来源：浙大管院服务科学与运营管理学系

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