“正午阳光——青年学者论坛”是金融学院定期举办的以院内师生参与为主的学术交流活动，为全院专家学者之间、师生之间、南开金融与国际国内学术界之间提供了难得的交流机会。本学期“正午阳光”论坛初心不改，扬帆远航再出发，致力于营造学院学校科研氛围，推动师生学术科研水平不断提升！

2025年春季学期 “正午阳光——青年学者论坛”第一期活动安排如下：

讲座题目：Native-Immigrant Entrepreneurial Synergies

主讲人：金钊

长江商学院金融学助理教授。他于2020年获得美国罗切斯特大学 (University of Rochester) 金融学博士学位。美国The Ewing Marion Kauffman Foundation曾于2018 - 2019年资助其在创业，人工智能，风险投资，及企业并购领域的研究。其在人工智能与创业金融领域的研究发表在国际顶级期刊 The Journal of Finance, 并获得美国金融学会年度杰出论文奖。其研究曾被纽约时报，华尔街日报，腾讯网等多家媒体报道。金钊博士同时担任China Finance Review International 人工智能特刊的客座主编。

点评人：李力

南开大学金融学院副教授。博士毕业于北京大学光华管理学院。研究领域为宏观经济学与时间序列计量经济学。

讲座时间：2025年3月13日（周四）12:00-13:30

讲座地点：金融学院116教室

内容摘要

We examine the performance of startups co-founded by immigrant and native entrepreneur teams. Using a unique dataset linking startups to the employment and education histories of its founders and employees, we find that native-migrant teams tend to outperform their native-only and migrant-only counterparts, being 20% larger in employment three years post-inception, more likely to secure funding, accessing larger funding rounds, and more likely to achieve a successful exit. To establish causality, we employ an instrumental variables strategy that leverages the native share in university degree programs attended by native startup founders. Our 2SLS findings indicate that startups with native-migrant teams are approximately 44% larger and 36% more likely to receive funding than native-only startups. We explore mechanisms driving this outperformance, identifying access to a diverse labor pool, foreign investors, and overseas markets as key factors.