Join us to hear from Sang Byung Seo, University of Wisconsin.  His presentation is titled, "The Risk and Return of Equity and Credit Index Options".  

Abstract: We develop a structural credit risk model, which allows us to price equity/credit indices and their options through the asset dynamics of index constituents. We estimate the model via MLE and find that equity and credit index option prices are well explained out-of-sample. Contrary to recent empirical findings, the two option markets...

Kelly O'Berry is the Assistant Director of IRB Education and Outreach at the UI Human Subjects Office.

The Behavior Research Seminar (BRS) is a low-pressure, safe place for Tippie faculty and PhD students to share new ideas and seek feedback in the early stages of a research project.

Piotr Dworczak is an Associate Professor at Northwestern University. 

Join us to hear from Matteo Binfare, University of Missouri. His presentation is titled, "Investing with Purpose: Evidence from Private Foundations".  

Abstract: We study the asset allocation, spending behavior, fees, and investment performance of U.S. private foundations. We find that large foundations generate positive risk-adjusted returns of about one percent per year. Larger and more sophisticated foundations perform better and invest more aggressively. Foundations with concentrated stock...

Hie Joo Ahn is a Principal Economist on the Board of Governors of the Federal Reserve Systems. 

Join us to hear from Anthony DeFusco, University of Wisconsin.  His presentation is titled, "Real Effects of Rollover Risk: Evidence from Hotels in Crisis".  

Abstract
We show how firms scheduled to roll over debt in a crisis strategically reduce operations, regardless of their liquidity constraints. Our research design utilizes contractual features of commercial mortgages that generate as-good-as-random variation in whether debt is scheduled to mature during a crisis or just before. Once the...