Séminaires de recherche

Real Anomalies

Finance

Intervenant : Jules Van Binsbergen
Wharton - University of Pennsylvania

2 mars 2017 - T004 - De 14h00 à 15h15


We examine the importance of asset pricing anomalies (alphas) for the real economy. To this end, we develop a novel lumpy investment model that features such anomalies and yields closed-from solutions for the joint cross-sectional distribution of firm dynamics. Our findings indicate that informational inefficiencies measured by cross-sectional alphas can cause material real inefficiencies, raising the possibility that agents that help eliminate anomalies can provide significant value added to the economy. The framework reveals that alphas alone are poor indicators of real distortions, and that efficiency losses crucially depend on the persistence of alpha, the amount of mispriced capital, and the Tobin's q of firms that are affected.

Finance

Intervenant : Matthieu Bouvard
Desautels Faculty of Management

14 juin 2018 - De 14h00 à 15h15


Finance

Intervenant : Mikhail Simutin
Rotman School of Management

7 juin 2018 - De 14h00 à 15h15


Finance

Intervenant : Liyan Yang
Rotman School of Management

31 mai 2018 - De 14h00 à 15h15


Finance

Intervenant : Anton Lines
Columbia Business School

24 mai 2018 - De 14h00 à 15h15


Finance

Intervenant : Ian Martin
LSE

17 mai 2018 - De 14h00 à 15h15



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