Events Search and Views Navigation
October 2022
Marina Niessner – Wharton
Can Social Media Inform Corporate Decisions? Evidence from Merger Withdrawals
Find out more »Ludovic Phalippou – Saïd (Oxford)
Employee Views of Leveraged Buy-Out Transactions ABSTRACT Employee satisfaction decreases following a company acquisition. This effect is, generally, higher when it is through a Leveraged Buy-Out (LBO), but with considerable heterogeneity: the decrease in employee satisfaction is concentrated in Tech LBOs and in Public-to-Private (PU2PE) transactions. After any M&A transaction,…
Find out more »Fotis Grigoris – Kelley (Indiana) – Brown Bag Series
Inflation and the Relative Price Premium Abstract This study shows that relative price dispersion impacts risk premia. Notably, firms associated with goods and services that have increased (decreased) in price relative to the headline inflation rate earn high (low) returns. We refer to this return spread of 0.71% per month…
Find out more »November 2022
Song Ma – Yale School of Management
The Education-Innovation Gap Barbara Biasi and Song Ma May 17, 2022 Abstract This paper documents differences across higher education courses in the coverage of frontier knowledge. Applying natural language processing (NLP) techniques to the text of 1.7M syllabi and 20M academic articles, we construct the “education-innovation gap,” a syllabus’s relative …
Find out more »Ting Xu – Darden – Brown Bag Series
The Effect of Childcare Access on Women’s Careers and Firm Performance Abstract We study the effect of government-subsidized childcare on women's career outcomes and firm performance using linked tax filing data. Exploiting a universal childcare reform in Quebec in 1997 and the variation in its timing relative to childbirth across…
Find out more »December 2022
Hyeik Kim – University of Alberta
All Clear for Takeoff: Evidence from Airports on the Effects of Infrastructure Privatization Abstract Infrastructure assets have undergone substantial privatization in recent decades. How do different types of owners target and manage these assets? And does the contract form—control rights (concession) vs. outright ownership (sale)—matter? We explore these questions in…
Find out more »February 2023
ICI/Mayo Academic and Practitioner Symposium – Robo-Advising/Crypto
https://www.darden.virginia.edu/faculty-research/seminars-conferences/academic-practitioner-symposium ICI/Mayo Academic and Practitioner Symposium on Mutual Funds and ETFs Co-hosted by the Investment Company Institute and the Richard A. Mayo Center for Asset Management, Darden School of Business, University of Virginia. Fintech, Robo-Advising and Cryptocurrencies FRIDAY, 24 FEBRUARY 2023 9 a.m. - 3:30 p.m. (EST) UVA Darden Sands…
Find out more »March 2023
Jun Yang – Mendoza College of Business (Notre Dame) – Brown Bag Series
Syndicated Lending, Competition and Relative Performance Evaluation Abstract Relative performance evaluation (RPE) intensifies competitive pressure by tying executive compensation to the profits of rivals. We show that these contracts make loan syndication harder by reducing banks’ willingness to participate in loans underwritten by banks named in their RPE contracts. Lead…
Find out more »Christopher Reilly – UT Dallas
Hidden Cost of Corporate Bond ETFs Abstract I document a hidden but substantial cost associated with the liquidity transformation that corporate bond exchange-traded funds (ETFs) provide. When creating new shares, authorized participants (APs) deliver a subset of the portfolio of bonds that underlie a corporate bond ETF. This subset contains…
Find out more »April 2023
Ralph Koijen – Booth (Chicago)
Asset Demand of U.S. Households Abstract We use new monthly security-level data on portfolio holdings, flows, and returns of U.S. households to understand asset demand across multiple asset classes. Our data cover a wide range of households across the wealth distribution – including ultra-high-net-worth (UHNW) households – and holdings in…
Find out more »September 2023
Ben Matthies – Mendoza College of Business (Notre Dame)
Equity Term Structure Response to FOMC Announcements Abstract We study the response of the equity term structure to FOMC announcements using a high-frequency event study approach. We find that monetary policy surprises have opposite effects on short-term dividend strips and the long-term equity market. Following an unanticipated cut in the…
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