CEF.UP – SPECIAL Seminar/Webinar

Wednesday – May 15^th, 2024 at 1:00 p.m. | Room 305| Online

“Paying attention: brain contraints on attention, learning and decision making” 

Genela Morris  – Technion – Israel Institute of Technology (Israel)

Abstract:

“Everyday decision-making demands the ability to distill complex and multifaceted information into actionable responses. These responses are typically geared toward favorable outcomes, rooted in reinforcement learning principles. While decades of research have unraveled the neural substrates of reinforcement learning, the process is inherently twofold. Effective decision-making hinges not only on learning the best actions in a given context but also on discerning relevant attributes of the environment to inform those decisions. In this seminar, I propose a theoretical framework that distinguishes between the learning of value and attention and elucidates their interplay. Drawing on experimental evidence from our rodent and non-human primate studies, I will share our suggestions on the distinct and complementary roles of striatal dopamine and acetylcholine in orchestrating this intricate process. I conclude by urging scholars of economic behavior and decision making to consider the brain mechanisms underlying attention, learning, and decision-making”

CEF.UP – FIN Seminar/Webinar

Thursday – May 16^th, 2024 at 1:00 p.m. | Room 305| Online

“Invest as for Your Kids: Performance and Implications of Children’s Investment Accounts on Portfolios in Adulthood“

Jarkko Peltomaki– Stockholm University (Sweden)

Abstract:

“We explore the performance of custodial investment accounts for children and their implications on portfolios in adulthood. We find that children’s accounts, often resembling passive investment strategies, yield annual returns three times higher with lower volatility compared to adults’ accounts. Parental risk-taking behavior does not significantly differ for kids of different genders during early childhood. However, a notable shift occurs once boys enter their teenage years, as their accounts begin to mirror the investment patterns typically associated with adult men. Consequently, during this phase, boys’ accounts tend to underperform relative to those of girls. Furthermore, we document that individuals whose investment accounts were initiated by their parents during childhood consistently demonstrate superior performance as young adults compared to peers who opened accounts themselves. Moreover, they exhibit a narrowed gap in risk-taking behavior observed between men and women. These findings emphasize the importance of passive investment strategies and highlight the influential role parental interventions play in shaping investment attitudes.”

CEF.UP – MaR Seminar/Webinar

Tuesday – May 21^th , 2024 6:30 p.m. – 7:30 p.m. | Room 631 | Online

” Understanding the complexity of ethics, moral blindness and designing an ethics experience that inspires ethical behaviour“

Ana Roque – FEP – School of Economics and Management, University of Porto

Abstract:

“In today’s rapidly evolving scenery, the significance of sustainability has gained immense recognition, urging supply chains to embark on the journey towards building sustainable practices. Sustainable supply chains can be best described as complex networks of entities that oversee the management of products, encompassing suppliers, customers, and returns, while considering social, environmental, and economic objectives concurrently. However, the complexity of these systems poses a challenge in simultaneously addressing environmental and social goals alongside the traditional objective of profitability.
To deal with these challenges, the development of decision-supporting tools for supply chain decision-makers is crucial. This talk focuses on the components of such tools, employing a systemic approach. Highlights the utilization of optimization-based models that effectively capture sustainability goals, considering the unique characteristics of supply chains. These tools enable the design and planning of sustainable supply chains, providing a solution that strikes a balance among economic, environmental, and social objectives.
Furthermore, this talk identifies and discusses key perspectives and challenges associated with sustainable supply chains, which serve as catalysts for further research in the field. By delving into these aspects, we can foster a deeper understanding of the subject and inspire innovative approaches towards achieving sustainability within supply chains.”

CEF.UP – ECO/FIN Seminar/Webinar

Thursday – May 23^rd, 2024 at 1:00 p.m. | Room 305| Online

Bank Specialization in Lending to New Firms

Diana Bonfim– Banco de Portugal and European Central Bank

Abstract:

“We formulate a novel dimension of bank-lending specialization—specialization in lending to new firms—and investigate its impact on the creation, credit access, and survival of new businesses. We exploit a Portuguese reform that drastically reduced the red tape of starting a new firm and that was rolled out in a staggered manner across municipalities. We show that while reducing regulatory barriers stimulates business creation, this effect depends crucially on the pre-reform local presence of bank branches specialized in lending to new firms. A greater presence of such branches is associated with improved credit access and higher leverage of new local businesses. Moreover, new firms that obtain loans from specialized branches exhibit an up to 12 percent higher survival rate.”

CEF.UP – WiP Seminar/Webinar

Friday – May 24^th, 2024 at 13:00h (1 pm) | Room 305 | Online

The Political Economy of Central Bank Digital Currencies and Monetary Policy

Francisco Nunes Pereira – FEP – School of Economics and Management, University of Porto and Cef.Up

Abstract:

This paper scrutinizes the monetary policy case in favor of Central Bank Digital Currencies (CBDCs) from a political economy angle. The proponents of CBDCs argue that their introduction would streamline the monetary policy transmission mechanism, enable novel policy interventions, and enhance data collection capabilities, ultimately leading to improved central bank performance. However, the arrangements of monetary institutions result in central banks entangled in incentive and epistemic issues, which limit their performance. CBDCs not only fail to mitigate these problems but indeed exacerbate them. We argue that the central bank becomes more vulnerable to political interference and rent-seeking activities once a CBDC is created. Moreover, the enhanced ability to monitor economic activities may lead central banks to succumb to the ‘pretense of knowledge syndrome,’ which compounds the incentives for discretionary interventions. We conclude that there is a means-ends inconsistency in the monetary policy case for CBDCs.

CEF.UP – MaR Seminar

Tuesday – May 28^th , 2024 6:30 p.m. – 7:30 p.m. | Room 631

MEET THE EDITORS

This seminar is an opportunity to meet and talk with the editors of selected journals, all of them affiliated with FEP – School of Economics and Management of the University of Porto.

Editors will answer questions about the journals, discuss the submission and review processes, and provide attendees with advice on how to increase the likelihood of publication.

• João Oliveira (Qualitative Research in Accounting & Management)
• Luísa Pinto (Journal of Global Mobility)
• Amélia Brandão (International Journal of Consumer Studies)
• Dalila Fontes (Journal of Combinatorial Optimization)

Moderator: Teresa Fernandes (Services Marketing Quarterly)