To promote academic exchanges between teachers and students and expand students' knowledge, our department launched the 65th "Seminar Series for Accounting Teachers and Graduate Students of Xiamen University". On the afternoon of November 26, 2019, Professor Guoqing Zhang, deputy dean of our department and doctoral supervisor, presided over this seminar. Firstly, Professor Zhang introduced us to the speaker of this academic conference-Assistant Professor Fangfang Hou. Assistant Professor Hou introduced her thesis "Capital Market Integration and Innovation: Firm-level Evidence from 43 Countries". Doctoral student Yuhui Xie of our department put forward brief comments and questions about it. Assistant Professor Hou gave detailed answers to the questions. Finally, Professor Guoqing Zhang gave a brief summary of this lecture.

In the reported paper, Assistant Professor Fangfang Hou used company-level data sets from 43 countries with a time span of more than 20 years to discover the capital account through the Difference-in-Difference-in-Difference (DDD) Model. She found that the degree of capital account liberalization is significantly positively correlated with patenting activity, and further discussions have been conducted from the three perspectives of industry R&D intensity, legal system environment, and company characteristics. The empirical results show that this effect is more pronounced in high-intensity industries, areas with a more complete legal system environment, and companies with higher initial productivity, better corporate governance, and stronger financing constraints.

After that, Xie Yuhui, a doctoral student in our department, made a brief comment on this article, mainly from the conclusions of the article, theoretical derivation and research design, and affirmed the method of using continuous variables instead of nominal variables in the article. Dr. Yuhui Xie also suggested that the article can be further studied from the perspective of the interaction between capital liberalization and trade liberalization. Assistant Professor Fangfang Hou said that this is a good research idea and will be considered in future research.

The report lasted for about an hour and a half. Under the auspices of Professor Guoqing Zhang, the students present put forward their opinions on their own ideas. Teachers and students actively exchanged views on the issues. The site was full of academic atmosphere. It ended with warm applause.