VIAN - EBP

04/09/2023

Next seminar: Event Space and Firm Value: Chinese Listed Firms in the US–China Trade War

Jane Lu - City University of Hong Kong

9:00 AM Monday, April 24, Vietnam Time
10:00 PM EST, Sunday April 23, US Time

Zoom Link: https://us06web.zoom.us/meeting/register/tZwtcuCqrz8tE90u_hmqNDG3URuqbd3TT_ko

Abstract
Although past studies in crisis management usually have taken a geography-focused approach to study how physical proximity increases firms’ exposure to a crisis, this study draws on event system theory and proposes that independent of firms’ geographic locations, an event can have multiple spatial directions and proximities to the firms in the event space. To further unpack the effects of event space, we develop an integrated frame-work that considers how the event space interacts with entity attributes—which are found to help firms cope with external challenges affecting their market value. Using the shock of the 2018 US–China trade war on listed firms in China's stock market, we find that the trade war has significantly reduced the market value of firms that have spatial proximity to the product market (i.e., firms that belong to target industries) and to the geographic market (i.e., firms that export to the US) in event space. This negative effect also spills over onto peer organizations with business activities related to target industries or the US. Moreover, there are differential moderating effects from entity attributes, such as corporate political connections and corporate social responsibility, on the different event spatial directions, pointing to the distinct natures of event spatial directions. This study intro-duces a novel, multidimensional view of event space and uses it to develop an event space model for geopoliti-cal events, and in so doing, we complement extant work on the role of crises in shaping corporate strategy and performance.

More information about Dr. Jane Lu
Jane Lu is Chair Professor at the Department of Management, City University of Hong Kong. Her work has appeared in Academy of Management Journal, Administrative Science Quarterly, Strategic Management Journal, Journal of Management and Journal of International Business Studies, among other leading management journals. She served as Editor-in-Chief of Asia Pacific Journal of Management (2016-2018) and is currently a Senior Editor of Journal of World Business and a Consulting Editor of Journal of International Business Studies. Dr. Lu’s research centers on the intersection between organization theory and strategy with a focus on interna-tional strategy and non-market strategy. Her earlier research investigates broad level issues that underlie the international strategy of a firm, as well as specific strategic questions, such as how to make a successful foreign entry into a country, or how to manage successfully in a foreign country. Her recent research continues this line of research but with a focus on emerging market firms and their non-market strategies.

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04/03/2023

Research in Vietnam: Data, Results, and Future Challenges by Finn Tarp

04/03/2023

03/16/2023

Next webinar: Research in Vietnam: Data, Results, and Future Challenges
Prof. Finn Tarp - University of Copenhagen

9:00 AM Tuesday, March 21, Vietnam Time
10:00 PM EST, Monday March 20, US Time
Location:
Zoom Link: https://us06web.zoom.us/meeting/register/tZAuf-ivqz4sH92lCSdPN3-hynWftAlN_7N7

Abstract
Professor Finn Tarp has for almost 25 years been an active researcher, research leader and policy advisor in Vietnam, involved together with a large number of international colleagues in a number of large-scale research and capacity-building programmes, funded in large measure, but by no means exclusively, by Danida. Following three years of in-country work based at the Central Institute of Economic Management (CIEM) from 2000, he has as Professor at the University of Copenhagen and Director of UNU-WIDER visited Vietnam some four times a year in relation to ambitious and wide-ranging research collaboration with various Vietnamese institutions including CIEM, ILSSA, IPSARD/CAP, GSO, among others. He has been awarded the Vietnamese Government Medal of Honour for Support to the Planning and Investment System and the Vietnamese Government Development Merit Medal for the Cause of Science and Technology. In this seminar he will speak about his professional experiences in Vietnam, give an overview of the data and research produced, and reflect on future challenges. The data sets produced under Finn Tarp’s guidance has been widely used in both academic publications and in numerous theses and dissertations focused on Vietnamese development issues.
More information about Dr. Finn Tarp
Dr. Finn Tarp is a leading international academic on issues of development strategy and foreign aid, with an interest in poverty, inequality, agricultural sector policy and planning, household and enterprise development, and climate change, sustainability, and natural resources. Have published widely in leading scientific journals and academic books. He has published 133 internationally refereed journal articles, 6 books, 30 edited book volumes/special journal issues, and 72 book chapters. Dr. Tarp was previously the Director of UNU-WIDER in Helsinki, Finland. See www.econ.ku.dk/ftarp for full details (including a large number of studies and publications on Vietnam).

Finn Tarp, former Director UNU-WIDER and University of Copenhagen Professor. Leading international scholar on development strategy and foreign aid, with expertise in poverty, income distribution and growth

03/05/2023

Dr. Markus Taussig, Associate Professor at Rutgers Business School in the state of New Jersey in the United States, is in Ho Chi Minh City as a Fulbright Scholar for the Academic Year 2022-23 and holding weekly open office hours on Friday mornings from 10am-noon at UEH’s Campus B on Nguyen Tri Phuong St. Markus first came to Vietnam as a study abroad student in 1993 and his research focuses on business, government, and society issues in emerging economies. He is currently involved in multiple randomized controlled trials in Vietnam and Thailand. In line with the PHER VIAN mission, Markus is making himself available to talk with any Vietnamese researchers seeking input on their efforts to translate research into publications in English-language international academic journals. For more on Markus’ background, see his Google Scholar page (https://scholar.google.com/citations?user=EGV8IIUAAAAJ&hl=en) and his Rutgers page (https://www.business.rutgers.edu/faculty/markus-taussig).

03/01/2023

Webinar 3 - Downward Nominal Rigidities and Bond Premia by Francois Gourio - Federal Reserve Bank of Chicago

02/01/2023

Next webinar: Downward Nominal Rigidities and Term Premia
Francois Gourio
Federal Reserve Bank of Chicago

8:00 PM EST, Thursday February 23, US Time
8:00 AM Friday, February 24, Vietnamese Time

Zoom Link: https://csuohio.zoom.us/j/89865701572

Abstract
We develop a macro-finance asset pricing model with downward nominal rigidi-ties and show that it helps explain both secular and cyclical movements in term premia. The asymmetry in nominal rigidities implies that when inflation is high, nominal rigidities are less relevant, leading to larger output and inflation responses to a productivity shock. As a result, when inflation is high, the consumption-inflation covariance is more negative, making the bond premium larger. This mechanism accounts for the downward trend in the term premium since the early 1980s due to the decline of inflation. Our model also generates substantial cyclical variation in term premia (i.e. the Campbell-Shiller or Fama-Bliss predictability of bond returns), as well as other compelling macroeconomic and finance properties, such as the negative skewness of output, positive skewness of inflation, and time variation in the covariance of stock and bond returns.

About Francois Gourio
Dr. Gourio's research and teaching interests lie mostly in the fields of macro-finance, investment, and business cycles. He is currently a senior economist and economic advisor at the Federal Reserve Bank of Chicago. Before joining the Fed, Dr. Gourio was an associate professor of economics at Boston University. He also served as associate editor at the Journal of Monetary Economics. Dr. Gourio has published his research in top economics journals, including American Economics Review, Review of Economic Studies, Journal of Monetary Economics, Journal of Financial Economics, and American Economic Journal: Macroeconomics. You can find more information about Dr. Gourio’s research using the following website https://scholar.google.com/citations?user=TrMXxs4AAAAJ&hl=en

Senior Economist and Economic Advisor, Federal Reserve Bank of Chicago - Cited by 3.827 - Macroeconomics - Investment - Business Cycles - Finance

02/01/2023

Webinar 2 - Institution, Abilities, and the Allocation of Talent by Michael Alexeev - Indiana University