Hyeik Kim – University of Alberta
Darden, FOB 294All Clear for Takeoff: Evidence from Airports on the Effects of Infrastructure Privatization Abstract Infrastructure assets have undergone substantial privatization in recent decades. How do different types of owners target and manage these assets? And does the contract form—control rights (concession) vs. outright ownership (sale)—matter? We explore these questions in Read more…
Anya Kleymenova – Federal Reserve Board – Brown Bag Series
Darden, FOB 294Bradley Paye (Virginia Tech)
McIntireICI/Mayo Academic and Practitioner Symposium – Robo-Advising/Crypto
UVA Darden Sands Family Grounds 1100 Wilson Boulevard, Arlington, VA, United Stateshttps://www.darden.virginia.edu/faculty-research/seminars-conferences/academic-practitioner-symposium ICI/Mayo Academic and Practitioner Symposium on Mutual Funds and ETFs Co-hosted by the Investment Company Institute and the Richard A. Mayo Center for Asset Management, Darden School of Business, University of Virginia. Fintech, Robo-Advising and Cryptocurrencies FRIDAY, 24 FEBRUARY 2023 9 a.m. - 3:30 p.m. (EST) UVA Darden Sands Read more…
Jun Yang – Mendoza College of Business (Notre Dame) – Brown Bag Series
Darden, FOB 194Syndicated Lending, Competition and Relative Performance Evaluation Abstract Relative performance evaluation (RPE) intensifies competitive pressure by tying executive compensation to the profits of rivals. We show that these contracts make loan syndication harder by reducing banks’ willingness to participate in loans underwritten by banks named in their RPE contracts. Lead Read more…
Taylor Nadauld – BYU (Marriott)
McIntireChristopher Reilly – UT Dallas
Darden, FOB 194Hidden Cost of Corporate Bond ETFs Abstract I document a hidden but substantial cost associated with the liquidity transformation that corporate bond exchange-traded funds (ETFs) provide. When creating new shares, authorized participants (APs) deliver a subset of the portfolio of bonds that underlie a corporate bond ETF. This subset contains Read more…
Andrew Ellul – Indiana (Kelley)
McIntireYunzhi Hu (UNC)
McIntireFrancis Longstaff – Anderson (UCLA)
Darden, FOB 294Ralph Koijen – Booth (Chicago)
Darden, FOB 294Asset Demand of U.S. Households Abstract We use new monthly security-level data on portfolio holdings, flows, and returns of U.S. households to understand asset demand across multiple asset classes. Our data cover a wide range of households across the wealth distribution – including ultra-high-net-worth (UHNW) households – and holdings in Read more…
Tony Cookson (Colorado)
McIntireTony will present his paper: Money to Burn: Wildfire Insurance via Social Networks with Emily Gallagher and Phil Mulder Abstract: Crowdfunding is an increasingly popular way to raise emergency funding after disasters. However, for victims of a recent major Colorado wildfire, we find that crowdfunding raised more support for high Read more…
David Schreindorfer (ASU)
McIntireDavid will present his paper: Volatility and the Pricing Kernel (co-authored with Tobias Sichert) Abstract Negative stock market returns are significantly more painful to investors when they occur in periods of low volatility. To establish this fact, we show that a drop in volatility makes the pricing kernel steeper and average put option returns Read more…