Building Public Trust in AI-Driven Futures Through Effective Communication and Innovation
As Artificial Intelligence (AI) becomes increasingly prevalent in everyday life, AI-powered applications—such as autonomous vehicles and drones—are expected to revolutionize industries and transform how we live, work, and engage with the world around us. However, the success of these technologies hinges not just on their technical capabilities but also on public perception, with trust playing a critical ...
Shirley Ho, Nanyang Technological University
Wednesday, April 9, 2025 | 10:30am-12:00pm | Room 333
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Broker-Dealers and Executive Private Benefits: Evidence from Tax-Saving Stock Gifts
We study how financial intermediary external oversight affects managerial self-dealing. Following an increase in external scrutiny of broker-dealers in the early 2010s, we document a decline in the backdating of executive stock gifts. This reduction amounts to approximately \$100,000 in lost tax benefits per executive annually. Treatment effects are stronger for broker-dealers with weaker pre-existing ...
Ben Charoenwong, INSEAD
Wednesday, April 9, 2025 | 2:00pm-3:30pm | Room 339
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Tough Talk: The Fed and the Risk Premium
We study how monetary policy affects financial risk premia. Unlike existing studies, we focus on the Federal Open Market Committee’s (FOMC’s) forward-looking policy stance, beyond the current announcement and macroeconomic forecasts, which we derive from the policymakers' private deliberations. A more hawkish policymakers’ stance in the FOMC meeting predicts lower risk premia during the intermeeting ...
Michael McMahon, University of Oxford
Wednesday, April 9, 2025 | 2:00pm-3:30pm | Room 337
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ESG Metrics in Executive Compensation:a Multitasking Approach
We model the multitasking nature of managerial incentives when ESG metrics are introduced jointly with standard financial or accounting metrics in executive compensation. Building on insights from multitasking theory, we predict that pay-performance sensitivity or dollar delta of standard metrics should optimally decrease when value-adding but less measurable ESG goals are introduced in executive pay....
Vikas Agarwal, Georgia State University
Wednesday, March 26, 2025 | 2:00pm-3:30pm | Room 339
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Priority-Based Incentives in Organ Donation
Organ transplants rely on donations from both living and deceased donors, yet severe organ shortages persist worldwide. To address this challenge, various policy initiatives have been introduced to enhance both channels of organ supply. This study examines priority-based incentives in organ allocation, specifically policies that grant priority to living donors and individuals who register as deceased ...
Mengling Li, Xiamen University
Wednesday, March 26, 2025 | 2:00pm-3:30pm | Room 337
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Sustainable Finance under Regulation
We build a model analyzing optimal environmental regulation in the presence of socially responsible investors. Investors care about greenness of their portfolios but cannot fully resolve the pollution externality. Regulations, such as pollution tax and subsidies to clean firms, reduce dirty firms’ size but also reshape firms’ shareholder compositions. Under the regulations, dirty firms’ shareholders ...
Shiyang Huang, University of Hong Kong
Wednesday, March 12, 2025 | 2:00pm-3:30pm | Room 339
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Female Employment and Structural Transformation
Two prominent secular trends characterize the transformation of labor markets in industrialized countries in recent decades. First, employment has shifted from manufacturing to services. Second, the share of female employment in total employment has risen sharply. This paper documents a novel fact linking these two trends: female employment shares within manufacturing and within services have remained ...
Xincheng Qiu, Peking University (Guanghua)
Wednesday, March 12, 2025 | 2:00pm-3:30pm | Room 337
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From Lasswell to Large Language Models: Evolving Methods for Understanding Audiences
The concept of audience has continuously evolved alongside technological advancements, from mass media to social media, and now to AI-driven platforms. Traditional audience research relied on surveys and content analysis, but digital traces, algorithmic curation, and generative AI are redefining how we observe and understand audience behavior. This talk revisits the shifting landscape of audience studies,...
Tai-Quan“Winson" Peng, Michigan State University
Wednesday, March 5, 2025 | 2:00pm-3:30pm | Room 333
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Capital Flows and Sovereign Debt Rollover Risk
We show that sovereign debt rollover risk depreciates exchange rates, increases CDS prices, and decreases bond prices. Using granular bond data to construct each country’s maturity structure, we provide the first evidence that many countries experience changes in their maturity structures over time, with considerable crosscountry variation. We then leverage the mechanical rebalancing of a local-currency ...
Jaewon Choi, Seoul National University
Wednesday, March 5, 2025 | 2:30pm-4:30pm | Room 339
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The Spill-Back and Spillover Effects of US Monetary Policy: Evidence on an International Cost Channel
We find that an unanticipated tightening of US monetary policy tends to raise US import prices. This empirical "spill-back" pattern differs from the predictions of typical open-economy macro models. We also document a new empirical "spillover" effect: import prices of other countries also rise following an unexpected US monetary tightening. To understand the mechanism, we examine Chinese exporters ...
Yao Amber Li, The Hong Kong University of Science and Technology
Wednesday, March 5, 2025 | 2:00pm-3:30pm | Room 337
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