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SEMINARIOS ACADEMICO CEA- MIPP: «Competing for Stock Market Feedback», Ana Elisa Pereira (UAndes – Chile)


Los invitamos al ciclo de  SEMINARIOS ACADEMICO CEA- MIPP:

Cuándo:  29 de mayo de 2024 – 12:30 PM Santiago.

Dónde: Sala Consejo (401) Beauchef 851, piso 4 | Departamento de Ingeniería Industrial.

Tema: Competing for Stock Market Feedback

Speaker: Ana Elisa Pereira (UAndes – Chile)


We propose a model where financial markets provide useful information to decision makers, leading firms to compete to attract informed trading. Firms increase managerial risk taking to compete for market information, creating a rat race where firms overinvest in a (failed) attempt to increase their stock informativeness. Efficiency gains of learning from the market may be eliminated: There is always an equilibrium where financial markets provide useful information, but are completely ignored by firms. Moreover, in any equilibrium firms react too little to market activity. Our results highlight that critically different outcomes arise when firms interact in integrated financial markets.

*favor confirmar asistencia, para coordinar la solicitud de almuerzos*

Más información se encuentra disponible en la página web MIPP: