Brown Bag Seminars

Date:                    Wednesday, March 6th

 

Time:                   12:00-1:00pm

 

Location:              CSOM L-118

 

TitleMore Cash Flows, More Options? The Effect of Cash Windfalls on Small Firms

 

Authors:  Jacelly Cespedes, Xing Huang and Carlos Parra

 

Abstract: This paper studies the effect of shocks to firms’ internal resources on business success. We use a new source of variation in cash flows by exploiting the bonus that retailers earn when selling jackpot winning lottery tickets. Increases in firms’ internal resources reduce the probability of survival. The evidence is not consistent with deteriorating credit behavior or owner retirement. Small business owners receiving large cash windfalls are more likely to start new businesses in non-retail industries. This effect becomes stronger when owners reside in low-income ZIP codes or own no real estate assets. Findings highlight importance of considering business owners’ outside options when studying small firms.

 


 

Date:                    Wednesday, March 27th

 

Time:                   12:00-1:00pm

 

Location:              CSOM L-118

 

TitleGender Complimentary and the Market Value of the Firm

 

Authors:  Alex Pecora

 

TitleEffects of banking crises on firms' real and financial quantities

 

Authors:  Christos Kamara

 


 

Date:                    Wednesday, April 3rd

 

Time:                   12:00-1:00pm

 

Location:              CSOM L-118

 

TitleCapital misallocation and risk sharing" is with Hengjie Ai, Anmol Bhandari and Chao Ying

 

Authors:  Yuchen Chen

 

TitleEstimating and Testing Investment-Based Asset Pricing Models, with Frederico Belo and Juliana Salomao

 

Authors:  Yao Deng

 

TitleInformation provision of the intermediary with reputation concern

 

 Authors:  Fangyuan Yu

 

TitleFinancial Institution Misconduct and the Rise of FinTech

 

Authors:  Keer Yang


 

Date:                    Wednesday, April 10th

 

Time:                    12:00pm-1:00pm

 

Location:              CSOM L-118

 

TitleDo Shocks to Intermediaries' Balance Sheet Impact Aggregate Risk Premium?

 

Author: Ramin Hassan

 

TitleMinsky Cycles

 

Author: Dan Su

 

TitlePublic market's discipline and managers' incentives

 

Author: Colin Ward and Chao Ying
 

Abstract: We revisit Jensen’s (1986) manager-investor relationship fraught with conflicting interests over the use of firm resources in a dynamic optimal contracting environment with costly external finance. Managers’ private quest for resource control separates these interests and endogenously creates a role for public markets as a provider of discipline.