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DTSTART:20250330T010000
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DTSTART;TZID=Europe/Helsinki:20250925T100000
DTEND;TZID=Europe/Helsinki:20250925T230000
DTSTAMP:20260710T030943
CREATED:20250922T124614Z
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UID:18373-1758794400-1758841200@crest.science
SUMMARY:Victor Saint-Jean (ESSEC)  "The Shared Costs of Pursuing Shareholder Values"
DESCRIPTION:Quantitative Sustainable Economics and Finance \nTime: 10.00 am\nDate: 25th of September 2025\nRoom 3001 \nVictor Saint-Jean (ESSEC) “The Shared Costs of Pursuing Shareholder Values” \nAbstract :We uncover latent conflicts among shareholders\, showing how private reputational rents for a few impose losses on many. Exploiting predetermined Annual General Meeting dates relative to COVID-19 and the Russian invasion of Ukraine as exogenous media spotlights\, we find that prominent individual shareholders backed early donations or rapid exits from Russia to enhance their reputations. Less visible financial investors opposed such actions and pursued their reputation through their own giving instead. Our design accounts for governance\, managerial access\, and alternative shareholder motives. Firms most exposed to rent-seeking reduced investment\, productivity\, and profitability by 1–3%\, with adverse effects lasting two years. \nOrganizers: Peter Tankov\, Gauthier Vermandel\, and Olivier David Zerbib \nSponsors:\nCREST-CMAP \n
URL:https://crest.science/event/victor-saint-jean-essec-the-shared-costs-of-pursuing-shareholder-values/
CATEGORIES:Finance-Insurance,Quantitative Sustainable Economics and Finance,Seminars
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