COVID-19 reveals European Union in discord
The COVID-19 pandemic has revealed economic weaknesses in some EU countries, with the stronger members reluctant to provide assistance.
Professor Patrick Augustin warns of the economic storm ahead if the EU does not reach solidarity.
Read more in Fortune
Insider trading by Congress reveals need for policy change
Trading by members of Congress shortly before the March 2020 market crash signals the need for policy change. In an op-ed for The Hill, Professor Patrick Augustin calls for a policy that only allows public officials to trade securities based on broad market indices.
Professor Sebastian Betermier on sustainable investing
Professor Sebastien Betermier sits down with the 麻豆AV Reporter to talk about sustainable investment strategies. According to Professor Betermier, progressive divestment strategies offer the best of both worlds for investors: they create positive environmental change while respecting the needs of all stakeholders.
Desautels professor Sujata Madan receives prestigious 3M National Teaching Fellowship
Professor of Practice Sujata Madan was聽named one of ten 2020 3M National Teaching聽Fellows鈥攖he highest recognition of individual聽teaching excellence and educational leadership聽at the university level. The Fellowship is jointly managed by the Society for Teaching聽and Learning in Higher Education (STLHE)聽and 3M Canada.
The complex nature of investment strategies
Professor Sebastien Betermier uses winning student proposals from the 2019 麻豆AV International Portfolio Challenge as the model for sustainable investment strategies of university endowment funds, suggesting that divestment strategies should go beyond聽a simple yes or no response.
A shift to cash in fixed-income exchange-traded funds
Financial Times has published an article featuring Professor Sebastien Betermier鈥檚 research on the increasingly common practice of creating fixed-income exchange-traded fund (FI-ETF) shares in cash.
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Desautels team takes first place at Quebec CFA Research Challenge
Congratulations to Desautels students Olivier Arsenault (MMF鈥�20), Pier-Olivier Lafl猫che (MMF鈥�20), Sai Kanthasamy (BCom鈥�20), and Mitch McEwen (MMF鈥�20) for placing first in the Quebec regional CFA Research Challenge.
Should you borrow money to invest in your future?
In an article in La Presse, Professor Sebastien Betermier cautions readers against the risk of borrowing money to invest.
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Understanding negative swap rates
A paper from Professor Patrick Augustin featured in voxEU looks at how the emergence of US default risk can help to explain the pattern of negative swap rates.
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The cash trend in fixed-income exchange-traded funds
Bloomberg has published an opinion piece featuring Professor Sebastien Betermier鈥檚 research on the shift from bonds to cash in fixed-income exchange-traded funds (FI-ETF).
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Cross-Listings and the Dynamics between Credit and Equity Returns
Authors: Patrick Augustin, Feng Jiao, Sergei Sarkissian, Michael J Schill
Publication: The Review of Financial Studies, Vol. 33, Issue 1, January 2020
Abstract:
We study how listing in multiple markets affects the dynamics between firms鈥� credit default swap (CDS) and stock returns. We find that cross-listing increases (1) the sensitivity of CDS to stock returns, (2) the integration of CDS with world equity and bond markets, and (3) the statistical synchronicity of CDS and stock prices. Our results are stronger for firms with greater media attention, analyst and CDS coverage, and Google search intensity and for listings in familiar markets. We suggest that a firm鈥檚 presence in global equity markets comes with an improvement in the credit-equity integration through a reduction of informational frictions.
Insider trading rarely leads to prosecution, study shows
A recent article in Belgium鈥檚 L鈥橢cho explores Professor Patrick Augustin鈥檚 2019 research looking at the low prosecution rates following unexplained trading activity in the leadup to company takeovers.
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Can university pension plans help tackle climate change?
In November 2019, teams in the 麻豆AV International Portfolio Challenge were asked to provide a solution for a fictional pension fund reassessing its investments in the interest of climate action.
In a piece for The Globe and Mail, Professor Sebastien Betermier considers the winning solution in the context of university pension plans.
Professor Betermier on the management of exchange-traded funds
Following the rise of personalized exchange-traded funds (ETFs), Professor Sebastien Betermier comments on the choice between active and passive management.
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Delve: Pension Plans for an Evolving World
Prof Sebastien Betermier explores the ways we can evolve from the聽old system of defined benefits pensions that will no longer meet the needs of tomorrow鈥檚 retirees.
This article is brought to you by Delve, the official thought leadership publication of 麻豆AV's Desautels Faculty of Management.
