Pari Sastry (Columbia)
McIntireKornelia Fabisik (University of Bern)
Darden, FOB 294Will Diamond (University of Pennsylvania, The Wharton School)
Darden, FOB 194Dmitriy 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…
Mayo/ICI Virtual Symposium “Inflation: The Macroeconomy and Implications for Asset Management”
Zoom12:10 p.m. - 12:40 p.m. Paper Presentation “Memory & Beliefs: Evidence from the Field” Michael Weber, Associate Professor of Finance, University of Chicago Booth School of Business 12:40 p.m. - 1:20 p.m. Panel Discussion & Q&A Joe Davis, Global Chief Economist & Head of Investment Strategy Group, Vanguard Kristina Hooper, 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…
Brownbag Seminar: Rich Evans (Darden)
Darden, FOB 294MiFID II Research Unbundling: Cross-border Impact on Asset Managers Richard B. Evans, Juan-Pedro Gomez, Rafael Zambrana ABSTRACT MiFID II requires EU investment advisors to “unbundle” research costs from execution fees. We find evidence that this unbundling for EU Funds is accompanied by an increase in bundled commissions generated by their 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…
Brownbag Seminar: Johannes Klausmann (Darden)
Darden, FOB 194Green Revenues Authors: Johannes Klausmann, Philipp Krueger & Pedro Matos Abstract: Using a novel measure of a firm's green revenues, this paper sizes up the green economy. We shed light on the drivers behind global public firms increasing business activities that help with the transition to a low-carbon and more 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…
Brownbag Seminar: Rich Evans (Darden)
Darden, FOB 194(Not) Everybody’s Working for the Weekend: A Study of Mutual Fund Manager Effort Abstract We develop a novel measure of effort to revisit the fundamental questions of asset management: how does effort relate to incentives; and how does effort affect performance? Using unique observations of daily work activity, we define Read more…