Année : 2021

Executive Ownership, Insider Trading and Sustainability Performance

Mardi | 2021-05-18 16H00 – Webinar Gianfranco GIANFRATE Executive ownership addresses agency problems by aligning the financial goals of management and shareholders. We explore whether executive ownership fosters non-financial sustainability footprint as well. We show that executive ownership and insider trading activities are negatively associated with firm environmental and social performance. A quasi-natural experiment shows […]

The Economic Costs of Conflict: A Production Network Approach

Mardi | 2021-03-23 16H00 – Webinar Mathieu COUTTENIER We provide new evidence on how conflict adversely affects economic outcomes. Specifically, we ask whether and how the production network is a first-order determinant of the propagation of conflict to firms outside of conflict zone. Using microdata on Indian manufacturing plants and geo-coded information on Maoist insurgency, […]

Borrowing Costs After Sovereign Debt Relief

Mardi | 2021-03-09 16H00 – Webinar Andrea PRESBITERO Can debt moratoria help countries weather negative shocks? We study the bond market effects of an official debt service suspension endorsed by the international community during the Covid-19 pandemic. Using daily data on sovereign bond spreads and synthetic control methods, we show that countries eligible for official […]

Optimal Monetary Policy Under Bounded Rationality

Mardi | 2021-02-23 16H00 – Webinar Jonathan BENCHIMOL – Lahcen BOUNADER The form of bounded rationality characterizing the representative agent is key in the choice of the optimal monetary policy regime. While inflation targeting prevails for myopia that distorts agents’ inflation expectations, price level targeting emerges as the optimal policy under myopia regarding the output […]

Exporting and Investment under Credit Constraints

Mardi | 2021-01-26 16H00 – Webinar Walter STEINGRESS Exporting is known to improve _rm performance; numerous studies report efficiency gains arising from entry into foreign markets, greater _rm-level investment, greater employment among other complementary firm-level changes. However, successful exporters inherently satisfy multiple constraints simultaneously: they find buyers for their product abroad, hire sufficient inputs, access […]