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November 2024
Shaojun Zhang – Fisher School of Business (Ohio State)
Oil-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…
Find out more »Yael Hochberg – Jones Graduate School of Business (Rice)
LEARNING 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…
Find out more »December 2024
Shuaiyu Chen – Mitchell E. Daniels, Jr. School of Business (Purdue)
Machine-Learning about ESG Preferences: Evidence from Fund Flows Abstract We construct Environmental, Social, and Governance (ESG) scores for U.S. active equity mutual funds based on over 500 underlying metrics covering a wide range of ESG issues and rating agencies. We use a revealed preference approach, combined with machine learning methods,…
Find out more »February 2025
Brent Ambrose (Penn State)
Brent Ambrose will present the following paper: Do Appraiser and Borrower Race Affect Mortgage Collateral Valuation? (Link) Abstract: We examine racial bias in property appraisals using a national sample of refinanced mortgages from 2000 to 2007. Our data allow us to observe the race of the appraiser and homeowner in…
Find out more »March 2025
Alexander Butler – Jones Graduate School of Business (Rice)
A 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…
Find out more »Victoria Ivashina (HBS)
Victoria Ivashina will present the following paper (click link in title for paper). Bank Runs and Interest Rates: A Revolving Lines Perspective with Falk Brauning Abstract: Revolving credit is at the core of the banking business. Corporate revolving credit lines are demandable claims; thus, similar to a traditional bank run…
Find out more »April 2025
Brownbag: Marco Cipriani (Federal Reserve Bank of New York)
Tracing 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…
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