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DTSTART:20231029T030000
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UID:calendar.132523.field_date.0@www.tse-fr.eu
DTSTAMP:20260518T132057Z
CREATED:20230907T121001Z
DESCRIPTION:Laurent Frésard (Università della Svizzera italiana)\, “CANCELL
 ED The Horizon of Investors’ Information and Corporate Investment”\, Finan
 ce Seminar\, Toulouse: TSE\, December 1\, 2023\, 14:00–15:15\, room Audito
 rium 4.\n\nWe investigate whether the quality of investors’ information ac
 ross horizons influences corporate investment. In our theory\, managers un
 der-invest because their stock price imperfectly reflects the value create
 d by their projects. This effect is stronger when there is a mismatch betw
 een the horizon of the projects' cash flows and the horizon at which inves
 tors obtain information. Using a new hand-collected measure of projects' h
 orizon\, we find that improvements in the quality of investors' long-term 
 (short-term) information induce firms with long-term (short-term) projects
  to invest more\, particularly when managers prioritize current stock pric
 es. Hence\, the quality of investors’ information across horizons matters.
DTSTART;TZID=Europe/Paris:20231201T140000
DTEND;TZID=Europe/Paris:20231201T151500
LAST-MODIFIED:20260109T151001Z
LOCATION:Toulouse: TSE\, December 1\, 2023\, 14:00–15:15\, room Auditorium 
 4
SUMMARY:Finance Seminar
URL;TYPE=URI:https://www.tse-fr.eu/seminars/2023-cancelled-horizon-investor
 s-information-and-corporate-investment
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