Date: March 22, 2023

Title: Learning from Prospectuses

Presenter: Prof. Apoorva Javadekar, Assistant Professor, ISB

Abstract: We analyze fund managers' incentives to disclose qualitative information about their strategies, and investors’ ability to learn from these disclosures. We propose a mechanism whereby investors make fewer errors in distinguishing active returns from passive factor exposures when they have access to more detailed strategy descriptions. In a formal model, we show that investor attribution errors are, on balance, more costly for managers with more specialized strategies, leading them to write more detailed descriptions. In the data, we find evidence for this prediction and support for the model’s core learning mechanism, as well as new insights into the flow-performance relationship.

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Meeting ID: 965 3748 8276

Passcode: 225087

Date: March 15, 2023

Title: Discerning Organizational level locus of control: An NLP approach (Early-Stage Study)

Presenter: Prof. Sudhir Voleti , Associate Professor, ISB

Zoom link for the talk:

Meeting ID: 987 0921 5056

Passcode: 745128