Events
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Week of Events
Monday Lunch Seminars Sander Heinsalu (University of Queensland)
Monday Lunch Seminars Sander Heinsalu (University of Queensland)
"Spence meets Holmstrom: Luck and repetition in signalling" Abstract This paper studies repeated costly signalling when luck matters for the outcome. Benefit is obtained from the belief of the market, not directly from the effort or the signal. Nonstationary environments are allowed.In the unique equilibrium in which effort is linear in type, the more the…
Monday Lunch Seminars Mascia Bedendo (Audencia School of Management)
Monday Lunch Seminars Mascia Bedendo (Audencia School of Management)
"Reputational Shocks and the Information Content of Credit Ratings" (Note: the seminar is on Thursday) ABSTRACT In the last two decades Credit Rating Agencies (CRAs) have faced extensive criticism for their rating practices and business models. We examine to what extent a number of significant reputational shocks suffered by CRAs (i.e. the Enron/WorldCom scandals, the subprime…