CEF.UP – FIN Seminar/Webinar

Thursday – April 18^th, 2024 at 1:00 p.m. | Room 305| Online

“The Information Content of Central Bank Disclosures: Firm-level Evidence from Eurosystem Collateral Haircuts”

Aytekin Ertan – London Business School (England, United Kingdom)

Abstract:

“This paper explores firm-specific central bank disclosures, specifically the Eurosystem’s collateral haircuts on nonfinancial corporate bonds. Our findings reveal that updates to collateral haircuts by central banks are significant: they not only trigger reactions in debt capital markets, but also predict future changes in issuers’s credit ratings and overall financial health. Our analysis further highlights that impact of these haircut revisions is more pronounced among riskier issuers, firms with bank debt, and in periods of greater uncertainty. Overall, our study underscores the relevance of firm-specific central bank information and provides new insights into the role of collateral haircut policies in the financial landscape.”

CEF.UP – WiP Seminar/Webinar

Monday – April 22^nd, 2024 at 1:00 p.m. | Room 305 | Online

“Keeping it in the Family: Student to Degree Match”

Pedro Luís Silva – FEP, Centre for Research in Higher Education Policies (CIPES) and Institute of Labour Economics (IZA) (joint work with Richard Murphy)

Abstract:

“This paper examines systematic inequalities in the match between students and the university degree they apply to, and enroll in. Using linked administrative data on the population of Portuguese applicants we create a transparent and continuous measure of student-to-degree match employing minimal assumptions. We find that students who are first in the family to attend post-secondary education consistently match to lower quality degrees across the entire achievement distribution. In contrast, only the highest achieving female students relatively undermatch. These gaps are larger at the application stage. We explore the role of student preferences and the consequences for intergenerational mobility.”

CEF.UP – MaR Seminar/Webinar

Tuesday – April 23^rd , 2024 6:30 p.m. – 7:30 p.m. | Room 631 | Online

“Driving Supply Chain Sustainability: The Crucial Role of Optimization in Achieving Sustainable Practices”

Ana Paula Póvoa – Instituto Superior Técnico, Universidade de Lisboa

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.”