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 : Xavier Gabaix

13 juin 2019 - T104 - De 14h00 à 15h15


Finance

Intervenant : Adriano Rampini

23 mai 2019 - T105 - De 14h00 à 15h15


Finance

Intervenant : Luke Taylor

16 mai 2019 - T105 - De 14h00 à 15h15


Finance

Intervenant : Jessica Jeffers

18 avril 2019 - T104 - De 14h00 à 15h15


Finance

Intervenant : Emil Verner

4 avril 2019 - T104 - De 14h00 à 15h15


Contacts  

Département Finance 

Campus HEC Paris
1, rue de la Libération
78351 Jouy-en-Josas cedex
France

Faculté  

Alexei OVTCHINNIKOV

Finance (GREGHEC)

Voir le CV

4th Annual HEC Paris Workshop Preliminary Program “Banking, Finance, Macroeconomics and the Real Economy”  


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