Manju Puri – Duke University, Fuqua School of Business

Zoom

Private Equity and Financial Stability: Evidence from Failed Bank Resolution in the Crisis Emily Johnston-Ross, Song Ma, & Manju Puri Abstract Using proprietary failed bank acquisition data from the FDIC combined with information on private equity (PE) investors, we argue that PEs took a positive role in stabilizing the financial Read more…

Joel Peress – INSEAD

Zoom

We propose a novel theory and supporting empirical evidence that lower long term interest rates (e.g., due to “quantitative easing”) can harm informational and allocative efficiency. We develop a rational expectations equilibrium model in which the interest rate is determined endogenously and utilized by investors to update their beliefs. Interest Read more…

Paul Gompers – Harvard Business School

Zoom

Venture Capitalists Decisions and COVID-19 Paul Gompers, Will Gornall, Steven N. Kaplan, and Ilya A. Strebulaev August 2020 Abstract We survey over 1,000 institutional and corporate venture capitalists (VCs) at more than 900 different firms to learn how their decisions and investments have been affected by the COVID-19 pandemic. We Read more…

Jennie Bai – Georgetown

Zoom

cross-asset-information-synergy_BAI Title: Cross-Asset Information Synergy in Mutual Fund Families  

Diane Del Guercio – Oregon

Zoom

How have passive managers fared in the era of the dramatic rise of passive investing? DGT Passive management 10-17-20

Antoinette Schoar – MIT, Sloan School of Management

Zoom

The Role of Government and Private Institutions in Credit Cycles in the U.S. Mortgage Market Manuel Adelino, W. Ben McCartney, and Antoinette Schoar August 3, 2020 Abstract The distribution of combined loan-to-value ratios (CLTVs) for purchase mortgages has been remarkably stable in the U.S. over the last 25 years. But Read more…

Andrey Malenko – Michigan

Zoom

Corporate governance in the presence of active and passive delegated investment - CMM

Philipp Schnabl – New York University, Stern School of Business

Zoom

The Financial Origins of the Rise and Fall of American Inflation Itamar Drechsler, Alexi Savov, and Philipp Schnabl Abstract We propose and test a new explanation for the rise and fall of the Great Inflation,a defining event in macroeconomics. We argue that its rise was due to the imposition of Read more…

Johannes Stroebel – NYU

Zoom

Social Proximity to Capital: Implications for Investors and Firms Theresa Kuchler, Yan Li, Lin Peng, Johannes Stroebel, Dexin Zhou Abstract We show that institutional investors are more likely to invest in firms from regions to which they have stronger social ties but find no evidence that these investments earn a Read more…

Michaela Pagel – Columbia

Zoom

Consumption out of Fictitious Capital Gains and Selective Inattention Benjamin Loos, Steffen Meyer, and Michaela Pagel Abstract Do retail investors’ behavioral biases in trading directly affect their consumption out of stock market wealth? We exploit a natural experiment that changed the displayed purchase prices in investors’ online portfolios. Investors are Read more…