We find that stocks of firms with higher total CO2 emissions (and changes in emissions) earn higher returns, after controlling for size, book-to-market, momentum, and other factors that predict returns. We cannot explain this carbon premium through differences in unexpected profitability or other known risk factors. Overall, our results are consistent with an interpretation that investors are already demanding compensation for their exposure to carbon emission risk. Join Patrick Bolton and Marcin Kacperczyk as they discuss carbon risk and if investors care.
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David Hirshleifer, Distinguished Professor of Finance, Merage Chair in Business Growth, UC Irvine
Join the CFP and UBS where Russ Wermers and David Hirshleifer discuss social transmission bias in economics and finance and how it affects social processes shaping economic thinking and behavior. David uses “fables” (models) to illustrate the novelty and scope of the transmission bias approach, and offers several emergent themes which can help explain booms, bubbles, return anomalies, and swings in economic sentiment.
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Where the data gaps that present risks to financial markets and the economy lie.
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Annual conference with the Federal Reserve Board
The Federal Reserve Board and Center for Financial Policy to host the third annual conference on short-term funding markets in Washington, D.C.
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Our annual conference with the SEC’s Division of Risk and Economic Analysis
Thursday, September 17, 2020 | 1 p.m.–5:15 p.m.
Friday, September 18, 2020 | 10 a.m.–3 p.m.
This event will be held online.
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Considerable meteorological research suggests that the frequency and intensity of North Atlantic hurricanes are on the rise. The focus of this presentation is to assist attendees to better understand the specific impacts of hurricane intensity and frequency on mortgage default.
Clifford Rossi, executive-in-residence and professor of the practice at Maryland Smith, will be moderating the CRO panel on hurricane risk.
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A discussion with John Stewart, CRO, Boeing Employees Credit Union
We’ll discuss the issues relating to consumer and commercial loan products and risk facing the industry in the current environment and how this large credit union is managing these risks. Learn more.
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Wondering how you can maximize your Maryland Smith student experience? Getting involved with the centers of excellence will allow you to make the most of your Maryland Smith journey. Whether it's participating in a case competition, launching a startup idea, learning how to be intentional, or gaining a global mindset, the Smith School's centers have something for any business interest. Join us on September 10, to hear how you can Centergize!
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Wondering how you can maximize your Maryland Smith student experience? Getting involved with the centers of excellence will allow you to make the most of your Maryland Smith journey. Whether it's participating in a case competition, launching a startup idea, learning how to be intentional, or gaining a global mindset, the Smith School's centers have something for any business interest. Join us on September 10, to hear how you can Centergize!
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P. K. Kannan, Dean's Chair in Marketing Science, will briefly introduce how consumer behavior has changed during the pandemic and what the implications are for marketing strategies in the short term and the longer term.
Learn how marketing/retailing has been affected and what he sees as structural changes. How should firms orient themselves going forward? Which trends are going to dominate, which media will have higher importance and which media's importance will wane? He will cover implications for customer focus, digital marketing and marketing budgets.
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