Seminar
Ramona Dagostino – Simon Business School (Rochester)
Darden, FOB 294Ana-Maria Tenekedjieva – Federal Reserve Board
Darden, FOB 194Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies Abstract We study the consequences of state-level price (rate) regulation for U.S. homeowners’ insurance, a $15 trillion market that provides households protection against climate losses. Using two distinct identification strategies and novel data on regulatory filings and ZIP code level rates, we Read more…
Pari Sastry (Columbia)
McIntireDmitriy Muravyev – Eli Broad Graduate School of Management (MSU)
Darden, FOB 194An Anatomy of Retail Option Trading Abstract The recent surge in retail option trading has sparked concerns about gambling and significant losses. We study a novel account-level dataset of about $20 billion in retail trades over 2020 to 2022 to show that these concerns may be exaggerated. Option trades account Read more…
Felix Feng (U Washington)
McIntireLocation: Rouss Robertson Hall 227 Felix will present the following paper (preliminary work - draft not available). Progress, Delays, and the Timeliness of Reporting Abstract: This paper studies the optimal contractual arrangement when managers have private information about the progress and delays during firm operations or product development. The optimal contract may Read more…
Alon Brav – Fuqua School of Business (Duke)
Darden, FOB 194Aditya Chaudhry (OSU)
Aditya will present the following paper: The Impact of Prices on Analyst Cash Flow Expectations Abstract: Analyst cash flow expectations deviate from rational expectations and correlate with stock prices. Does this correlation arise solely because these biased expectations are shared by investors who impact prices? Or do prices impact analyst Read more…
Murillo Campello – Cornell University, Johnson Graduate School of Business
Darden, FOB 294Uncertainty Creates Zombie Firms: Implications for Industry Dynamics and Creative Destruction Abstract We show how the threat of “uncertainty-induced zombification” — creditors’ willingness to keep their distressed borrowers alive when faced with uncertainty — shapes various industry dynamics. Under a real options framework, we demonstrate that unlevered firms become reluctant Read more…
Andra Ghent (Utah)
McIntireAndra will present the following paper, available here. Determinants and Consequences of Return to Office Policies (with Sean Flynn and Vasudha Nair) Abstract: We study the return to office (RTO) policies of publicly-traded firms by handcollecting a dataset of policy announcements for the Russell 1000 firms. The amount of in-person Read more…
Anthony DeFusco – Northwestern (Kellogg)
McIntirePlease note Anthony's Seminar will take place at 2:30 PM to 4:00 PM in Rouss Robertson Hall 227. Anthony will present the following paper, available here. Real Effects of Rollover Risk: Evidence from Hotels in Crisis with Charles Nathanson and Michael Reher Abstract: We show how firms scheduled to roll over Read more…
Richard T. Thakor – Carlson School of Management (Minnesota)
DardenWhen Private Equity Comes to Town: The Local Economic Consequences of Rising Healthcare Costs Abstract We examine the effect of increased healthcare costs on local economic conditions. We use private equity (PE) buyouts of U.S. hospital systems as a shock to the healthcare costs faced by firms in affected areas. Read more…
Michael Weisbach – Fisher College of Business (OSU)
Darden, FOB 194Risk-Adjusting the Returns to Private Debt Funds Isil Erel, Thomas Flanagan, Michael Weisbach March 2024 Abstract Private debt funds are the fastest growing segment of the private capital market. We evaluate their risk-adjusted returns, applying a cash-flow based method to form a replicating portfolio that mimics their risk profiles. Using Read more…