嘉宾简介：‌安哲（Andrew）现任莫纳什大学莫纳什商学院高级讲师（2019年至今），2015-2018年曾任该学院讲师。曾就读于新南威尔士大学，并获得金融学博士学位，主要研究方向包括实证公司金融、劳动力与公司金融、文化因素对金融决策的影响、信息环境与企业行为等。在国际知名金融期刊Review of Corporate Finance Studies、Journal of Empirical Finance、Journal of Corporate Finance等上发表多篇论文。

论文摘要：This paper documents an unintended consequence of the 2018 Primary Beneficiary Test (PBT) for internships, which provides greater flexibility in defining unpaid internships. We show that, following the implementation of the PBT, firms with a higher reliance on interns are more likely to omit pay information and less likely to disclose paid positions in internship job postings compared to those with a lower reliance. Additionally, firms reduce the disclosure of networking opportunities and increase the specificity of educational qualifications andspecialized skill requirements. We also find that market competition exacerbates these effects. These findings highlight how the regulatory flexibility unintentionally limits transparency for internship job postings, which could disadvantage those seeking fair internship opportunities.