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Research and Extension Seminars

Upcoming Seminars
Open Research Questions in Microfinance: A Faculty Panel
Speaker: Vicki Bogan, Ravi Kanbur, Yanyan Liu
Date: Oct. 31
Time: 10:30am-Noon
Place: Warren 401
Seminar Type: Dyson School Invited Seminar Series
Abstract: Microfinance is often presented as a panacea for inclusive growth in developing and in developed countries. But what exactly is microfinance? Is it really as successful as it is made out to be? What insights can behavioral economics offer to the design of microfinance interventions? And are lessons of microfinance transferable across developing and developed countries? A Dyson Faculty Panel will discuss these and other questions, with the objective of setting out research areas which are important, interesting, and doable.
Assessing the "Mechanisms Turn" In Corporate Social and Financial Performance Studies: A Meta-Analysis
Speaker: Pushpika Vishwanathan, Erasmus Univ.
Date: Nov. 3
Time: 9am
Place: Warren 401
Abstract: Prior meta-analyses report a significant positive relationship between corporate social performance (CSP) and corporate financial performance (CFP), but fail to unveil the mechanisms explaining how CSP affects CFP. To correct for this omission, we use meta-analytic structural equations modeling to unpack the empirical evidence contained in 203 pre-existing primary studies. We find that the direct relationship between CSP and CFP is epiphenomenal, as it becomes insignificant once we simultaneously account for both mediating and joint causation variables. Yet we also find that financial leverage and advertising intensity significantly mediate the CSP-CFP relationship, and conclude that future research should shift its explanatory focus from the epiphenomenal direct relationship between CSP and CFP to the concrete mechanisms underlying this relationship.
What Drives Peer Effects in Financial Decision-Making? Neural and Behavioral Evidence
Speaker: Cary Frydman, Univ. of Southern California
Date: Nov. 4
Time: 9am
Place: Warren 401
Abstract: We use neural data collected from an experimental asset market to test the underlying
mechanisms that generate peer effects. Despite the fact that subjects are randomly assigned to
pairs and endowed with the same information set, we find substantial evidence of peer effects in
investment decisions. We then use the neural data to construct empirical tests that can separately
identify a social learning mechanism and a relative wealth concern mechanism. We observe
neural activity that indicates both mechanisms contribute to peer effects. The neural activity that
we use in the empirical tests is measured at the time when subjects receive information about a
peer's investment decision. Our results therefore demonstrate how neural data generated in the
absence of choice can be used to distinguish between competing theories of financial decisionmaking.
“Whom Do You Trust?” Investor-advisor Relationships and Mutual Fund Flows
Speaker: Leonard Kostovetsky, Univ. of Rochester
Date: Nov. 5
Time: 12:30-2pm
Place: Warren 401
Abstract: I investigate the value that investors place on trust and relationships in asset management by
examining mutual fund flows around announced changes in the ownership of fund management
companies. I find an average decline in flows of around 7% of fund assets in the year following
the announcement date, starting after announcement and accelerating after the closing date of the
ownership change. A decomposition into inflows and outflows shows that the overall decrease in
flows is entirely driven by increasing redemptions by existing investors. Prior legal controversies
at the acquiring firm exacerbate outflows from the target firm's mutual funds. Retail investors
and investors in funds with higher expense ratios are more responsive to ownership changes,
consistent with the notion that such investors place a higher value on trust and are more likely to
respond to a relationship disruption by withdrawing their assets. Alternative explanations such as
changes in distribution network, reactions to expected fund closure, expected or past manager
changes, or poor expected returns do not seem to explain the results.
How Socially Responsible Business Practices Reinforce Human Capital Strategy
Speaker: Jason Snyder, UCLA
Date: Nov. 6
Time: 9am
Place: Warren 401
Abstract: We present theory and evidence connecting socially responsible business practices and a firm's human capital strategy in the legal services industry. At many major US law firms, pro bono legal work is an important part of the culture. A critical feature of pro bono work is that it provides an opportunity for junior associates to take the lead role on a case, a role typically reserved for higher-ranking employees. We posit that a junior associate's performance on a pro bono case affords the firm a chance to learn about his or her potential as a partner. We present primary evidence consistent with this theory as well as correlations that support the notion that firms engage in more pro bono activity when a higher percentage of junior associates are being considered for partner.
Do Local Managers Give Labor an Edge?
Speaker: Scott Yonker, Indiana Univ.
Date: Nov. 7
Time: 9am
Place: Warren 401
Seminar Type: Dyson School Invited Seminar Series
Abstract: Based on the psychological theory of place attachments, native local managers should be more rooted in their communities than non-locals and should act accordingly. Consistent with this, local managers are 33% less likely to lay off employees than their non-local industry peers following industry distress. Locals finance higher employment by spending cash, cutting investment, and selling assets. While there is no direct evidence that these labor-friendly policies impact firm performance or value, only locals with weaker incentives implement these policies, suggesting that favoritism by locals may be suboptimal. Taken together these results suggest that managerial preferences impact corporate employment decisions.
How does Equity Market Liberalization affect Investment Choices? Evidence from China's Qualified Foreign Institutional Investor Program
Speaker: Parul Sharma, Cornell Univ.
Date: Nov. 14
Time: 11:45am-1pm
Place: Warren 101
Seminar Type: AEM Graduate Student Association Seminar Series
Abstract: Does equity market liberalization in an emerging economy significantly increase global demand for that economy's domestically traded equities? In the context of a liberalizing equity market regime are domestically versus internationally traded equities mutual complements or substitutes? This paper address these questions by using the unique, quasi-experimental setting offered by China's QFII Program which, starting in 2003, allowed selected foreign institutional investors to directly invest in A-shares listed on China's domestic stock exchanges. I construct a dataset of 5,273 securities – both A-shares and non A-shares – that afford exposure to China's economy. I study the holding patterns of these securities using a difference-in-difference estimation strategy to identify significant changes in the portfolio investment patterns of QFIIs relative to non-QFII peers. I find that being a QFII is associated with a significant increase in the rate of A-share based exposure to China ranging from 0.7 to 1.1 percentage points. Qualification as a QFII is not associated with a significant change in the rate of exposure to China acquired through investment in non A-share equities i.e. internationally traded Chinese equities or equities of foreign companies with cross-border FDI deals in China. The entire increase in the rate of A-share based China-exposure thus represents incremental or new global demand for China (that would not have materialized in the absence of the QFII Program) rather than a reallocation of existing global demand for China away from non A-share equities into A-shares. Evidence from China's liberalizing equity market regime indicates that domestically traded equities (A-shares) and internationally traded equities (non A-shares) are mutual complements rather than mutual substitutes.

Dyson School Invited Seminar Series top

The Dyson School Invited Seminar Series provides several School-wide seminars a year, bringing distinguished academics and practitioners nominated by the faculty to speak on contemporary topics related to the four program areas of the Dyson School: Food and Agricultural Economics, Management, Environmental and Resource Economics, and International and Development Economics. The seminars are targeted toward a graduate-level audience, addressing contemporary research and policy issues. Dyson graduate students are required to attend ALL seminars in this series.

Fall 2014
Sept. 5, Ivan Png, National University of Singapore
Sept. 26, Thomas W. Hertel, Purdue Univ., 10:30am-Noon, Warren 401
Oct. 24, Norbert Wilson, Auburn Univ.
Oct. 31, Research on Microfinance: Faculty Panel with Vicki Bogan, Ravi Kanbur and Yanyan Liu
Nov. 7, Scott Yonker, Indiana Univ.
Nov. 21, Holly Wang, Purdue Univ.

Dyson School Sponsored Seminars top

Dyson Sponsored Seminars are co-sponsored by other schools, centers, departments, and associations at Cornell University and feature speakers of interest to the Dyson School's faculty and students.

Fall 2014

AEM Graduate Student Association Seminar Series top

The Applied Economics and Management Graduate Student Association Seminar Series provide a forum for the School’s graduate students to present and get feedback on their research; help students gain insights, information, and practice advice from outside speakers; and facilitate faculty and student discussion panels to address issues of interest to the graduate student community.

Fall 2014
Oct. 17, Pimbucha Rusmevichientong, Cornell Univ.
Nov. 14, Parul Sharma, Cornell Univ.
Dec. 5, Marc Bellemare, Univ. of Minnesota
Dec. 12, Peter Slade, Univ. of Guelph

Related Seminar Series top

Cornell International Institute for Food, Agriculture, and Development (CIIFAD)

Cornell System Dynamics Network (CSDNet)

David R. Atkinson Center for a Sustainable Future

Economics Department Seminar Series

Applied Microeconomics Workshop

2014 Seminars top

Date Speaker Topic
1/6 Derek Farnsworth
Univ. of California, Davis
Explaining Agricultural Labor Shortages with Unpredictable Product Losses: A Case Study of Spotted Wing Drosophila in California Raspberries
1/8 Jennifer Ifft
US Department of Agriculture
Does Federal Crop Insurance Lead to Higher Farm Debt? Evidence from the Agricultural Resource Management Survey (ARMS)
1/9 Barrett Kirwan
Univ. of Illinois
The Effect of Federal Crop Insurance on Risk-Mitigation and Investment
1/10 Emanuele Massetti
Fondazione Eni Enrico Mattei (FEEM)
Using Degree Days to Value Farmland?
1/14 Ariel Ortiz-Bobea
Fellow Resources for the Future
Climate Change Impacts on US Agriculture
1/15 Thomas Sproul
Univ. of Rhode Island
Does Risk Aversion Matter for Shallow Loss Crop Insurance?
1/17 Marshall Burke
Univ. of California, Berkeley
Adaptation to Climate Change: Evidence from US Agriculture
1/21 Paul Christian
Brown Univ.
The Distributional Consequences of Group Procurement: Evidence from a Randomized Trial of a Food Security Program in Rural India
1/24 Byoung-Hyoun Hwang
Purdue Univ.
Wisdom of Crowds: The Value of Stock Options Transmitted Through Social Media
1/27 Hao Jiang
Univ. of Texas at Austin
Tail Risk and Hedge Fund Returns
1/28 Isaac Hacamo
Univ. of California, Berkeley
Finance and Welfare: The Effect of Access to Credit on Family Structure
2/21 Brian Wansink
Cornell Univ.
Forum on Food Psychology, Consumer Behavior, Behavioral Economics, and Marketinge
2/28 Jubo Yan
Cornell Univ.
An Experimental Examination of Willingness to Accept and Willingness to Pay Disparity Under Risky Prospects
3/7 Susan Offutt
Government Accountability Office
The US Fiscal Future: Projections and Methods
3/14 Steve Hamilton
California Polytechnic State Univ.
Oligopoly Intermediation, Relative Rivalry and the Mode of Competition
3/20 Paul Novosad
Dartmouth Univ.
Dirty Politics: Natural Resource Wealth and Politics in India
3/24 Marin Bozic
Univ. of Minnesota
Price Discovery, Volatility Spillovers and Adequacy of Speculation when Spot Prices are Stationary: The Case of U.S. Dairy Markets
3/28 Adrian Lopes
Cornell Univ.
Civil Unrest and the Poaching of Rhinos in the Kaziranga National Park, India
4/16 Jason Snyder
Information Disclosure and Firm Performance: Evidence from the Dialysis Industry
4/17 David Stifel
Lafayette College
Economic Benefits and Returns to Rural Feeder Roads: Evidence from a Quasi-Experimental Setting in Ethiopia
4/18 William Kerr
Harvard Business School
Highway to Success: The Impact of the Golden Quadrilateral Project for the Location and Performance of Indian Manufacturing
4/22 Matthew Kahn
Adapting to Climate Change: An Economist's Perspective
4/25 Ariel BenYishay
Australian School of Business
The Transmission of Mistrust: Institutional Consequences of Early-Life Rainfall
5/1 Eilyan Bitar
Cornell Univ.
Random Renewable Energy and the Marginal Value of Storage
5/9 Xiaobo Zhang
Mechanization and Division of Labor in Chinese Agricultural Production
5/9 H.S. Dillon
Government of Indonesia
Political Economy of Poverty Alleviation in Indonesia
5/16 Vidhya Soundararajan
Cornell Univ.
Contract Labor and Firm Productivity in the Indian Manufacturing Sector
6/9 Bill Pritchard
Univ. of Sydney
How Does Land Ownership Affect Household Food and Nutrition Security? Revisiting the Agriculture-Nutrition Disconnect in Two North Indian Villages
9/5 Ivan Png
National Univ. of Singapore
Law and Innovation: Evidence from State Trade Secrets Laws
9/26 Thomas W. Hertel
Purdue Univ.
Global Market Integration Increases Likelihood That a Future African Green Revolution Could Increase Crop Land Use and CO2 Emissions
10/8 Taylor Bentley
Washington Univ.
The Value of Informational Organic Links for Sponsored Search Advertising
10/15 Geoff Fisher
California Institute of Technology
Value Estimation and Comparison in Multi-Attribute Consumer Choice
10/17 Pimbucha Rusmevichientong
Cornell Univ.
Food Stamps, Food Insufficiency and Health of the Elderly
10/22 Yiting Deng
Duke Univ.
DVR Advertising Targeting
10/24 Norbert Wilson
Auburn Univ.
When Higher Quality Does Not Translate to Higher Prices: A Case of Quality and Specialty Coffees from the Cup of Excellence Auctions
10/29 Noah Stoffman
Indiana Univ.
Do Shocks to Personal Wealth Affect Risk Taking in Delegated Portfolios?
10/30 Eva Vivalt
New York Univ.
How Much Can We Generalize From Impact Evaluation Results?
10/31 Vicki Bogan, Ravi Kanbur,
Yanyan Liu

Cornell Univ.
Open Research Questions in Microfinance: A Faculty Panel
11/3 Pushpika Vishwanathan
Erasmus Univ.
Assessing the "Mechanisms Turn" In Corporate Social and Financial Performance Studies: A Meta-Analysis
11/4 Cary Frydman
Univ. of Southern California
What Drives Peer Effects in Financial Decision-Making? Neural and Behavioral Evidence
11/5 Leonard Kostovetsky
Univ. of Rochester
“Whom Do You Trust?” Investor-advisor Relationships and Mutual Fund Flows
11/6 Jason Snyder
How Socially Responsible Business Practices Reinforce Human Capital Strategy
11/7 Scott Yonker
Indiana Univ.
Do Local Managers Give Labor an Edge?
11/14 Parul Sharma
Cornell Univ.
How does Equity Market Liberalization Affect Investment Choices? Evidence from China's Qualified Foreign Institutional Investor Program

2013 Seminars top

Date Speaker Topic
2/15 Robert Ready
Univ. of Rochester
Oil Prices and the Stock Market
2/18 Sofia Kotsiri
North Carolina State Univ.
Farmers' Perceptions about Spatial Yield Variability and Precision Technology Adoption
2/20 Shady Atallah
Cornell Univ.
An Agent-Based Computational Bioeconomic Model of Plant Disease Diffusion and Control: Grapevine Leafroll Disease.
View video.
2/21 Deborah Prentice
Howard Univ.
Explanation of Two Topics in the Accounting Vocabulary: Depreciation and Product Margin
2/25 Anton Bekkerman
Montana State Univ.
A Semi-Parametric Approach to Analyzing Differentiated Agricultural Products
2/26 Donald May
Northeastern Univ.
Allocating Indirect Costs
3/1 Travis Lybbert
University of California, Davis
Leveling with Friends: Social Networks and Indian Farmers' Demand for Agricultural Custom Hire Services
3/6 Thomas Maloney
Cornell Univ.
Prospects for Immigration Reform and the Implications for Agriculture
4/3 Brad Rickard
Cornell Univ.
University Licensing of Patents for Varietal Innovations in Agriculture
4/19 Andrew Levin
Visiting Scholar, International Monetary Fund
Labor Force Participation and Monetary Policy in the Wake of the Great Recession
5/1 Gerald B. White
Cornell Univ.
Development of the Grape and Wine Industry in New York, 1975-2012
5/8 Joachim Henkel
TU Munich School of Management and Harvard Business School
Productive Assets or Quality Signals? The Role of Patents and Alliances in Venture-Capital Financing
5/14 Jura Liaukonyte
Cornell Univ.
Television Advertising Content and Internet Traffic
5/20 Laura Taylor
North Carolina State University
Randomized Safety Inspections and Risk Exposure on the Job: Quasi-experimental Estimates of the Value of a Statistical Life
5/23 Y. Peter Chung
A. Gary Anderson Graduate School of Management, University of California
Is Herding Priced in the Market? An Analysis of Systematic Order Imbalances of Stocks
5/29 David Lee
Cornell Univ.
Agriculture, Development and Environment
8/30 Tom Reardon
Michigan State Univ.
Rapid Transformation of Agrifood Value Chains in Asia
9/13 Rolf Fare
Oregon State Univ.
Joint Production of Good and Bad Outputs with a Network Application
9/26 Eric Edmonds
You Get What You Pay For: Schooling Incentives and Child Labor
10/4 Debraj Ray
New York Univ.
Ethnicity and Conflict
10/25 Lourenco Paz
Syracuse Univ.
The Effects of Exchange Rate on the Wage Premium: An Evaluation Using the Brazilian 1999 Exchange Rate Depreciation
11/8 Ravi Kanbur (moderator), David Ng, Sharon Poczter, Joshua Woodard
Dyson School, Cornell Univ.
Research on Business and Finance in Emerging Economies
11/11 John W. Mellor
John Mellor Associates, Inc.
11/15 Dennis Becker
Dyson School, Cornell Univ.
Heterogenous Firms and Informality: The Effects of Trade Liberalization in Labor Markets
11/20 Jennifer Alix-Garcia
Univ. of Wisconsin-Madison
Only One Tree From Each Seed? Poverty Alleviation and Environmental Effectiveness in Payments for Ecosystem Services
11/22 Shadi Atallah
Cornell Univ.
A Model of Plant Disease Management under Spatial-Dynamic Externalities
12/6 Jean-Paul Chavas
Univ. of Wisconsin
On the Microeconomics of Specialization: The Role of Non-Convexity
12/9 Tiantian Yang
Univ. North Carolina at Chapel Hill
Who's the Boss? Explaining Gender Inequality in Entrepreneurial Teams
12/13 Yu Qin
Cornell Univ.
"No County Left Behind?" The Distributional Impact of High-Speed Rail Upgrade in China
12/16 Michael Roach
Fuqua School of Business, Duke University
Founder or Joiner? The Role of Preferences and Context in Shaping Different Entrepreneurial Interests
12/18 Elizabeth Lyons
Univ. of Toronto
Team Production in International Labor Markets: Experimental Evidence from the Field