综合学术活动
大金融思想学术沙龙 | 香港大学熊琰（5月27日）
2026-05-21
时 间
2026年5月27日（周三）上午10:00-11:30
地 点
中国人民大学中关村校区明德主楼801
主办单位
国家金融研究院、中国人民大学财政金融学院
主讲嘉宾简介
熊琰，香港大学会计学与法学，金融学副教授。多伦多大学金融学博士。加入香港大学前，她曾是香港科技大学的金融学助理教授。她致力于信息经济学、大数据、公司金融和金融市场等领域的研究，学术成果发表或即将发表于Journal of Financial Economics, Review of Financial Studies. Journal of Economic Theory. Journal of Accounting Research. Journal of Accounting and Economics. The Accounting Review、Management Science等国际顶级经济学、金融学、管理科学、财务学期刊。现担任Journal of Financial Markets副主编。她于2024年获国家自然科学基金优秀青年基金（现青年科学基金项目B类），并多次获得香港研究资助局资助，2022年获Review of Corporate Finance Studies颁发的Rising Scholar Award。
沙龙内容摘要
Despite the importance of indices, little is known about the index provision market. To understand the market's competitive landscape, we develop a model that incorporates three key players: retail investors, passive funds, and index providers. Index providers, established to mediate the conflict of interest between the other two, often prioritize the interests of their fund clients. Retail investors can influence the industrial-organizational structure of the index provision market by deciding how many indices are admitted. Contrary to conventional wisdom, we demonstrate that retail investors prefer a concentrated index provision market with index providers commanding substantial market power over passive funds.