13th Online Seminar in Finance: Söhnke M Bartram, Warwick Business School
The Institute of Finance at PUEB is pleased to announce the 13th Online Seminar in Finance.
Speaker: Söhnke M Bartram, Warwick Business School
Title: Creative destruction, stock return volatility, and the number of listed firms
Abstract: Average idiosyncratic volatility and firm idiosyncratic volatility increase with the number of listed firms. Average industry idiosyncratic volatility increases with the number of listed firms in the industry. We explain the relation between idiosyncratic volatility and the number of listed firms through Schumpeterian creative destruction. We show that Schumpeterian creative destruction increases as the number of listed firms increases. However, there is no consistent evidence of an incremental effect of the number of non-listed firms on idiosyncratic volatility either in the aggregate or at the industry level, suggesting that listed firms play a unique role in the dynamism of the economy.
Date: April 5th, 2024, 15:00 (Warsaw time)
Speaker’s bios: Söhnke M. Bartram is a Professor in the Department of Finance at Warwick Business School. He is also a Research Fellow in the Financial Economics programme and the International Macroeconomics and Finance programme of the Centre for Economic Policy Research (CEPR), a Charter Member of Risk Who’s Who, and a member of an international think tank for policy advice to the German government. His immediate research activities center around issues in international finance and financial markets. Dr. Bartram’s work has been presented at conferences organized by the NBER, CEPR, the American Finance Association, the Western Finance Association, and the American Economic Association, published in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, the Journal of Financial and Quantitative Analysis, and Management Science, and included in testimony before the U.S. Congress House Financial Services Committee.
To register, please click here: https://forms.gle/wqBpZdr9DYBia4MaA*
Registration deadline: April 3rd, 2024, 20:00 (Warsaw time). The invitation to the Teams webinar will be sent on April 4th, 2024.
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