Brownbag Seminar: Sangeun Ha (Copenhagen Business School)
Darden, FOB 294Outsourcing Workplace Safety Abstract I study if firms deliberately sacrifice workplace safety for profits by using contract workers, for whom they are not legally liable. I exploit a regression discontinuity design around the amendment to the Occupational Health and Safety Act in Korea,2017, which expanded the legal accountability of firms Read more…
Pekka Honkanen – University of Georgia, Terry College of Business
Darden, FOB 274Intermediation, Pricing, and Hedging in OTC Markets: Equity Total Return Swaps Abstract I present a simple theoretical framework for pricing and hedging equity total return swaps and test the model’s predictions using novel, transaction level data. I find that swap spreads are based on a dealer’s financing cost when the Read more…
Ron Kaniel (Rochester)
McIntireShaojun Zhang – Fisher School of Business (Ohio State)
Darden, FOB 194Oil-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 Read more…
Katharina Lewellen (Dartmouth)
McIntireYael Hochberg – Jones Graduate School of Business (Rice)
Darden, FOB 194LEARNING 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 Read more…
Nancy Xu – Carroll School of Management (Boston College)
Darden, FOB 174Shuaiyu Chen – Mitchell E. Daniels, Jr. School of Business (Purdue)
Darden, FOB 274Machine-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, Read more…
Spencer Couts (USC)
McIntireBrent Ambrose (Penn State)
McIntire, RRH 410Brent 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 Read more…
Brownbag: Francis Won (Darden)
Darden, FOB 294Claire Celerier (Toronto)
McIntireAlexander Butler – Jones Graduate School of Business (Rice)
Darden, FOB 194A 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 Read more…
Brownbag: Zhaohui Chen (UVA, McIntire)
Darden, FOB 194Victoria Ivashina (HBS)
McIntire, RRH 410Victoria 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 Read more…