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November 2019
UVIC 2019
The 12th annual University of Virginia Investing Conference (UVIC) will take place at UVA’s Darden School of Business, 8 November 2019.
Find out more »Bob Bruner – Darden – Brown Bag Series
"Financial Crises: Research, Cases, and Courses"
Find out more »Frank Warnock – Darden – Brown Bag Series
The Natural Level of Capital Flows John D. Burger Sellinger School of Business, Loyola University Maryland Francis E. Warnock Darden Business School, University of Virginia NBER Veronica Cacdac Warnock Darden Business School, University of Virginia This Draft: November 2019 update (in progress) of NBER Working Paper 26184 Abstract We put…
Find out more »December 2019
David Smith – McIntire – Brown Bag Series
Losing Control? The 20-Year Decline in Loan Covenant Restrictions Thomas Griffin, Greg Nini, and David C. Smith November 2019 Abstract This paper finds that lenders today rely on less restrictive financial covenants compared to 20 years ago, resulting in a nearly 70% drop in the annual proportion of U.S. public…
Find out more »January 2020
Tania Babina – Columbia Business School
Crisis Innovation Tania Babina (Columbia), Asaf Bernstein (Colorado), Filippo Mezzanotti (Northwestern) January 8, 2020 Abstract In a differences-in-differences design we provide the first systematic evidence that distress from the Great Depression drove the single largest shift in innovative organization in U.S. history – from predominantly outside to inside the firm.…
Find out more »Roger Ibbotson – Yale
The PAPM with Heterogeneous Preferences and Expectations This Draft: 10/2/2019 Initial Draft: 2/6/2019 Thomas Idzorek | Paul D. Kaplan | Roger G. Ibbotson Abstract The Popularity Asset Pricing Model (PAPM) has similar assumptions to the Capital Asset Pricing Model (CAPM), but different conclusions. In the CAPM, the expected excess return…
Find out more »February 2020
John Treu – WVU – Brown Bag Series
Disclosure Crowdsourcing by Lawyers Michael Drake, Brigham Young University Kenneth Merkley, Indiana University Chase Potter, Indiana University John Treu, West Virginia University ABSTRACT Lawyers play an important advisory role in the IPO process, but our understanding of how they influence the process is limited. We provide evidence on the extent…
Find out more »Ting Xu – Darden – Brown Bag Series
Financing Entrepreneurship: Tax Incentives for Early-Stage Investors Governments often subsidize startups with the goal of spurring entrepreneurship using tax incentives. Exploiting the staggered implementation of angel investor tax credits in 31 U.S. states from 1988 to 2018, we find that these programs increase the number of angel investments and average…
Find out more »Rich Evans – Darden – Brown Bag Series
The Performance of Diverse Teams: Evidence from U.S. Mutual Funds We use the U.S. mutual fund industry to study the relation between team diversity and performance. Focusing on diversity concerning political ideology, we find that diverse portfolio manager teams outperform homogeneous teams and have a higher active share, and tracking…
Find out more »2020 ICI/Mayo Academic and Practitioner Symposium
2020 ICI/Mayo Academic and Practitioner Symposium Co-hosted by the Investment Company Institute and the Richard A. Mayo Center for Asset Management, Darden School of Business, University of Virginia. https://www.darden.virginia.edu/faculty-research/seminars-conferences/academic-practitioner-symposium
Find out more »Rafael Zambrana – Notre Dame – Brown Bag Series
Entrepreneurship and Regional Windfall Gains: Evidence from the Spanish Christmas Lottery The Spanish Christmas Lottery is the largest lottery worldwide. We exploit local windfall gains arising from lottery prizes to estimate the effect of income on entrepreneurship. We find higher firm creation and greater self-employment in winning provinces. Our estimates…
Find out more »Edward Van Wesep – University of Colorado Boulder
On the magnification of small biases in decision-making Shaun William Davies, Edward Dickersin Van Wesep, Brian Waters December 5, 2019 Abstract We analyze a setting in which an actor chooses between N ex ante identical options. She can exert effort to learn about the quality of each option, but can…
Find out more »April 2020
Campbell Harvey (Duke) – Mayo Center Virtual Seminar Series
Format: via Zoom. This is a joint event with FMA International. More details at https://www.darden.virginia.edu/mayo-center/events/speaker-series-economic-financial-implications-covid-19 Topic: The Economic and Financial Implications of COVID-19 Professor Harvey will provide an update and outlook for the global economy and financial markets as the current crisis unfolds. Topics he will discuss include: • Potential…
Find out more »Andrew Karolyi (Cornell) – Mayo Center Virtual Seminar Series
Format: via Zoom. This is a joint event with FMA International. More details at https://www.darden.virginia.edu/mayo-center/events/speaker-series-economic-financial-implications-covid-19 Topic: TBA There will be a Q&A session following the prepared remarks. Moderator: Marc L. Lipson - Robert F. Vandell Professor of Business Administration
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