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DTSTART;TZID=Europe/Helsinki:20241107T113000
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SUMMARY:Raman UPPAL (EDHEC Business School) "Evaluating the Impact of Portfolio Mandates"
DESCRIPTION:Quantitative Sustainable Economics and Finance \nTime: 11.30 am\nDate: 07th of November 2024\nRoom 3001 \nRaman UPPAL (EDHEC Business School) “Evaluating the Impact of Portfolio Mandates” \nAbstract : This paper evaluates the effectiveness of portfolio mandates on capital allocation. We argue that a firm’s cost of capital is not a good measure of mandate effectiveness. Instead\, evaluating the real impact of mandates requires examining their effect on sectoral capital allocation. Contrary to the prediction of endowment-based models\, we show that mandates may have a negligible impact on the cost of capital and yet significantly influence the allocation of capital across sectors. Using a production-based model calibrated to match key asset-pricing and macroeconomic moments\, we estimate that a significant portion of the mandate remains effective in shaping equilibrium capital allocation\, even when there is little disparity in the cost of capital across sectors. \nOrganizers:  Patricia Crifo\, Emmanuel Gobet\, Peter Tankov\, Gauthier Vermandel\, and Olivier David Zerbib \nSponsors:\nCREST-CMAP \n
URL:https://crest.science/event/raman-uppal-edhec-business-school-evaluating-the-impact-of-portfolio-mandates/
CATEGORIES:Finance-Insurance,Quantitative Sustainable Economics and Finance,Seminars
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