Darden
Daniel Green – Harvard Business School
Darden, FOB 294Scott Baker – Kellogg School of Management (Northwestern University)
Darden, FOB 194The Effects of Cryptocurrency Wealth on Household Consumption and Investment Abstract This paper uses transaction-level bank and credit card data to identify cryptocurrency investors and assess the impact of crypto wealth fluctuations on household consumption, as well as on investments in other assets. We find an $0.09 MPC from crypto Read more…
Gordon Phillips – Tuck School of Business (Dartmouth)
DardenNew Technology Sectoral Disruptions Abstract We construct a novel measure of technology sectoral disruptions (TSDs) using a dynamic text-based spatial model of patents based on the extent to which innovation is suddenly highly correlated across multiple industries. We identify multiple TSDs occurring over a 70-year period of time. Abnormal stock Read more…
Brownbag Seminar: Sangeun Ha (Copenhagen Business School)
Darden, FOB 294Outsourcing Workplace Safety Abstract I study if firms deliberately sacrifice workplace safety for profits by using contract workers, for whom they are not legally liable. I exploit a regression discontinuity design around the amendment to the Occupational Health and Safety Act in Korea,2017, which expanded the legal accountability of firms Read more…
Shaojun Zhang – Fisher School of Business (Ohio State)
Darden, FOB 194Oil-Driven Greenium Abstract As climate attention grows, many argue that investors discipline carbon-intensive firms by increasing their costs of capital, creating a “greenium” favoring green firms. We challenge this view, demonstrating that the observed greenium variation is largely driven by oil demand fluctuations, which boost product prices and growth options Read more…
Yael Hochberg – Jones Graduate School of Business (Rice)
Darden, FOB 194LEARNING TO QUIT? A MULTI-YEAR FIELD EXPERIMENT WITH INNOVATION DRIVEN ENTREPRENEURS We use a randomized experiment with 553 science- and technology-based startups in 12 coworking spaces across the US to evaluate the effects of intensive, short-term entrepreneurial training programs similar to that offered by accelerator programs and executive education programs Read more…
Nancy Xu – Carroll School of Management (Boston College)
Darden, FOB 174Brownbag: Francis Won (Darden)
Darden, FOB 294Alexander Butler – Jones Graduate School of Business (Rice)
Darden, FOB 194A Market-based Measure of Climate Risk for Cities Abstract We use information from financial markets to construct a comprehensive measure of cities’ economic exposure to climate-related risks. Studying a large sample of municipal bonds issued by U.S. cities, we document substantial variation in how municipal bond prices respond to innovations Read more…
Brownbag: Zhaohui Chen (UVA, McIntire)
Darden, FOB 194Brownbag: Marco Cipriani (Federal Reserve Bank of New York)
Darden, FOB 294Tracing Bank Runs in Real Time Abstract We use high-frequency interbank payments data to trace deposit flows in March 2023 and identify twenty-two banks that suffered a run, significantly more than the two that failed but fewer than the number with large negative stock returns. The runs were driven by Read more…
Brownbag: Rodney Sullivan (Darden)
Darden, FOB 194Juanita González-Uribe – London School of Economics
Darden, FOB 194Managerial Springboards: Employee Spillovers of Startup Accelerators Abstract: We study whether accelerators shape employees’ careers. Drawing on employee-level resume data across the Americas and a Colombian natural experiment with wage records, we find that employees of accelerator-backed startups are more likely to become managers in other firms, earn higher wages, Read more…