Research Seminars

TBD

Accounting & Management Control

Speaker: Paul Pronobis
ESCP Europe Business School

19 October 2018 - HEC Paris - Room T004 - From 2:00 pm to 4:00 pm


Personal Initiative Training: Theory, Empirical Evidence, and Where to Go

Management & Human Resources

Speaker: Michael FRESE
National University of Singapore, Business School and Leuphana University of Lueneburg, Germany

12 October 2018 - T201 - From 1:30 pm to 3:00 pm

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TBD

Accounting & Management Control

Speaker: Reaven YU
University of Sydney

12 October 2018 - HEC Paris - Room T004 - From 2:00 pm to 4:00 pm


THE CAPM HOLDS

Finance

Speaker: Michael Hasler

11 October 2018 - T104 - From 2:00 pm to 3:15 pm

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Under some realistic condition, the conditional risk premium of an asset is equal to its conditional market beta times the conditional risk premium of the market (Merton, 1972). We empirically test this CAPM relationship using beta-sorted portfolios, size-and-book-to-market sorted portfolios, and industry portfolios. We show that regressing an asset excess return onto the product of its conditional beta and the market excess return yields an R2 of about 80%, an intercept of zero, and a slope of one. These results provide strong evidence that a single factor explains both the level and the variation in the cross-section of returns.

The Visual Judgment of Performance

Management & Human Resources

Speaker: Chia-Jung TSAY
UCL School of Management

5 October 2018 - Bernard Ramanantsoa room - From 10:00 am to 11:30 am


Social judgments and impressions are often made on the basis of minimal information. In the domain of music, people consistently report that the most important source of information in evaluating performance is sound; nonetheless, a first set of experiments demonstrated that people actually rely on visual information when making judgments about music performance. These findings were extended through additional sets of studies elaborating on the generalizability and persistence of these effects, such as in the judgment of entrepreneurial pitch competitions, analyst forecasts of firm performance, and in service operations in the food industry. Works in progress discuss the role of expertise in decision making and implications for organizational performance.

Finance

Speaker: Cecilia Bustamante

4 October 2018 - T004 - From 2:00 pm to 3:15 pm


Finance

Speaker: Martin Schmalz

27 September 2018 - T104 - From 2:00 pm to 3:15 pm


Firms’ Internal Networks and Local Economic Shocks

Finance

Speaker: Xavier Giroud

21 September 2018 - T105 - From 2:00 pm to 3:15 pm

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This paper shows that firms’ internal networks of establishments constitute an important channel through which local shocks propagate across U.S. regions. Using confidential data at the establishment level from the U.S. Census Bureau, we find that local establishment-level employment responds strongly to shocks in distant regions in which the firm is operating. Consistent with theory, the elasticity with respect to such shocks is increasing in firms’ financial constraints. To account for general equilibrium adjustments, we examine aggregate employment at the county level. We find that county-level employment is highly sensitive to shocks in other counties linked through firms’ internal networks.

Globalization of Quantitative Policing: Between Management and Statactivism

Accounting & Management Control

Speaker: Emmanuel DIDIER
EHESS Paris

21 September 2018 - HEC Paris - room T004 - From 2:00 pm to 4:00 pm


Information policing seems to be pervading public security police all around the world. This review asks whether this appellation describes a homogeneous set of phenomena. Compstat was the first program to massively computerize policing. The literature reviewed here follows its fate in the United States and, on a global scale, in France, where the program was imported. The review successively discusses the perspective of managers who were favorable to the program and that of “statactivists,” activists who use statistics, who were opposed to it. Despite the many differences intervened during the importation process, especially in the balance of expertise and publicity, some points seem to be common to both contexts, such as the building of a computer infrastructure, a specific use of the data, and the constructive tensions between the police institution and its critics.

Accounting for violence: Heterogeneous interests, the crafting of distinctions, and accounting

Accounting & Management Control

Speaker: Kalle Kraus
Stockholm School of Economics

14 September 2018 - HEC Paris - Room T004 - From 2:00 pm to 4:00 pm


This paper examines how accounting is implicated in the crafting of distinctions with a view to understanding how sporting organisations manage heterogeneous and potentially conflicting interests. We do so in the context of accounting for violence, examining legislation concerning the payment by Swedish elite football clubs of policing costs with respect to public safety and order on match day. The Public Order Act (1993) stated such costs were payable by entities with a “profitable purpose”. However, the meaning of a profitable purpose has been subject to ongoing contestation by football clubs, which are required to manage both the commercial interests of male elite football and the extensive amateur interests embedded in overarching voluntary sport organisations. Callon and Muniesa’s (2005) proposition guides our research; the materialisation of distinctions is central to accounting in a context of conflicting interests. We follow the crafting of distinctions between the responsibility for the payment or non-payment of policing costs in the Swedish premiere league between 1999-2014. Our narrative is informed by documentary and interview data, which focuses on one of the high-risk Stockholm clubs. We highlight the constructed and contested materiality of the distinctions informing accounting calculations. Our research also has practical implications for sports administrators, demonstrating the importance of distinctions and the role of accounting in managing the potentially contradictory and heterogeneous interests associated with sporting clubs.


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