Seminarios de Negocios 2022

El propósito del seminario es convertirse en el lugar donde presentar nuevas investigaciones, así como también, en un foro para aumentar el conocimiento mutuo entre los miembros del profesorado. 


                  Tel.: 5169 7301


Martes 5 de julio

Ricardo Estrada | CAF-Banco de Desarrollo de América Latina

"Oportunidades a la vista: Externalidades de escuelas de alto rendimiento en Perú."

Abstract
Este estudio analiza cómo la admisión de un estudiante a un sistema de colegios públicos de alto rendimiento en Perú cambia los resultados educativos de estudiantes más jóvenes que acuden a la misma escuela de origen que el estudiante en cuestión. Utilizando un diseño de regresión discontinua para la identificación de un efecto causal, el análisis muestra que la admisión de un estudiante a un colegio de alto rendimiento aumenta la probabilidad de que, posteriormente, alumnos más jóvenes de la misma escuela postulen y sean admitidos al mismo sistema de colegios de alto rendimiento. El efecto se concentra en los estudiantes de familias de menor estatus socioeconómico (ESE), medido por la educación de la madre, lo cual sugiere que la difusión de información tiene un rol crucial para explicar los resultados. Asimismo, se encuentra evidencia sugestiva de un ligero efecto positivo en el logro académico de los postulantes potenciales, y no se encuentra ningún efecto negativo en los aprendizajes de los estudiantes que no son elegibles para postular a este sistema de colegios. Los hallazgos de este trabajo muestran que las escuelas selectivas pueden tener efectos que van más allá de sus propios estudiantes e indican que la disponibilidad de modelos a seguir puede ser un mecanismo eficaz para aumentar la demanda de educación de alta calidad por parte de estudiantes de alto rendimiento de menor ESE.

Bio
Ricardo Estrada es economista principal en el Banco de Desarrollo de América Latina. Antes de unirse a CAF era un Max Weber Fellow en el Instituto Universitario Europeo. Ha sido consultor para organismos internacionales como el Banco Mundial, el Fondo Internacional de Desarrollo Agrícola de las Naciones Unidas y el Population Council. En México, colaboró en el think tank CIDAC y, en el sector privado, en INSAD y Hill and Knowlton.
Ricardo es Ph.D. en Economía por la Paris School of Economics y egresado de la Maestría en Política Pública de la Universidad de Chicago.



Jueves 23 de junio

Gustavo Fajardo | CAF-Banco de Desarrollo de América Latina

"Family Rules: Nepotism in the Mexican Judiciary."

Abstract
We show that bureaucrats can exploit discretion in hiring decisions to engage in forms of favoritism that hinder organizational performance. We do this in the context of the Mexican federal judiciary. The arrival of a judge at a circuit results in the hiring of 0.05 relatives to key staff positions within the following year on average, a figure which is probably a lower bound of the overall effect. Moreover, we find that the appointment of relatives of judges to a court’s staff leads to a reduction in the court’s productivity, which indicates that such hires are motivated by rent-seeking rather than by efficiency purposes. Importantly for personnel policy, nepotistic hires are concentrated among judges who have been sanctioned for administrative offenses, those assigned to courts located in their state of birth, and those in higher-ranking positions.

Bio
Gustavo Fajardo es economista principal de la Dirección de Investigaciones Socioeconómicas, Vicepresidencia de Conocimiento, CAF-Banco de Desarrollo de América Latina. Ph.D. en Economía en el Centro de Estudios Monetarios y Financieros – CEMFI (España). Sus intereses de investigación se centran en las áreas de economía, política, capacidades estatales y desarrollo económico.



Lunes 6 de junio

Thomas Fujiwara | Princeton University

"Party Nominations and Female Electoral Performance: Evidence from Germany."

Abstract
What accounts for differences in electoral success between male and female candidates? We exploit features of the German mixed electoral system and a decomposition strategy to study the contribution of parties systematically nominating female candidates to run in districts where the party is less popular, and distinguish it from voter behavior (e.g., discrimination). Using a panel of all electoral districts in eleven federal elections (1983—2021), we document that the relative under-performance of female candidates nominated by the two largest parties can be explained by this systematic nomination behavior that adversely affects female candidates. Moreover, parties’ nominations strategies can explain most of the variation in gender gaps in electoral performance across parties and election years. We do not find evidence that bias among voters systematically contributes to candidate gender differences in vote shares. Our findings thus suggest that efforts to address female under-representation that focus on party gatekeepers may be more effective than those addressing voter behavior.

Joint work with Hanno Hilbig and Pia Raffler.

Thomas Fujiwara is an Associate Professor of Economics and International Affairs at Princeton University. His research is in political economy, with a substantive focus on developing countries. His work addresses questions related to representation both in elections and in the workplace. In particular, he has investigated how political participation shapes public policy and the determinants of voter behavior and the role of gender norms in driving female participation in the workplace. He received his PhD from the University of British Columbia in 2011.


Jueves 17 de abril

Ana Vukadin | HEC Paris

"Store artification and retail performance."

Abstract
A recent retail strategy, store artification consists of introducing artistic stimuli into store atmospherics. Such linkage to art and creativity promises to create a highly stimulating shopping environment for customers while adding value to store offering, thus maximizing retail performance. To assess the impact of store artification on retail performance, we conducted a field experiment testing the ‘presence vs. absence of artworks’ store artification modality in retail stores in Paris, France. Results indicate store artification increases store perceived differentiation, perceived value of the offering, customer satisfaction, and enhances store and product image. However, store artification does not affect store commercial performance, raising the issue of its profitability for the retailer and adequate implementation modalities. Further, this research suggests the relevance of the store artification strategy regarding store marketing performance for non- luxury retailers and as a tactical, store-level tool.

Bio
Ana Vukadin, Ph.D. from ESCP Europe/Paris 1 Sorbonne University, is an experiential marketing and retailing researcher. She is interested in innovative value creation strategies at the store-level using atmospheric and sensorial tools, in a profitability maximization approach. She has focused on the hybridization strategy of including art into retail places, her research being published in the Journal of Marketing Management and the Journal of Product and Brand Management. Additionally, she is interested in experiential marketing strategies within the food retail and hospitality sectors, specifically the articulation of product-level sensory qualities and store-level sensorial packaging, with recent research published in AIMS Agriculture and Food.


Jueves 17 de marzo

David Jonas Schröder | Copenhagen Business School

"Pagos, ESG y Cortoplacismo."

Abstract
The increasing focus on firm sustainability has led to criticisms of excessive shareholder payouts by corporations. Policymakers view rising levels of repurchases and dividends as signs of business unsustainability and short-termism. But, the evidence offered, on the association between social responsibility and payout policy is limited thus far. Hence, in this study, I assess this relationship based on environmental, social, and governance (ESG) data from two prominent rating agencies – namely Asset4 and Bloomberg – and data from the Euro Stoxx 600 firms from 2002 to 2020. Using fixed-effect regressions, I find that socially responsible firms (as measured by high ESG ratings) pay out significantly less to their shareholders. I further show that the negative relationship between ESG and shareholder payouts is more pronounced for firms with higher levels of investment opportunities, asset specificity, or those with more conservative capital structures. These results suggest that excessive corporate payouts may be related to short-termism in the EU.

Bio
David trabaja como becario de doctorado en el Centro de Gobierno Corporativo de la Copenhagen Business School. Tiene un máster en Finanzas y Gestión Estratégica por la CBS.
La investigación de David se centra en el gobierno corporativo. Utilizando modelos econométricos sobre informes anuales y estados financieros de empresas que cotizan en bolsa, investiga la relación entre la identidad de la propiedad y los resultados económicos, sociales y medioambientales.


Miércoles 9 de marzo 

Claudio Ferraz | University of British Columbia

“When Democracy Refuses to Die: Evaluating a Training Program for New Politicians."

Abstract
Not available.

Bio
Claudio Ferraz is a Professor of Economics at the Vancouver School of Economics, University of British Columbia. He is also a part-time professor at the Department of Economics of the Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio). He currently serves as Scientific Director of J-PAL Latin America & Caribbean and as co-director of the Political Economy Network of LACEA and RIDGE. Claudio is an honorary member of LACEA, fellow of the Econometric Society and currently an Associate Editor of Econometrica, Journal of Political Economy, and Journal of Development Economics. His academic research focuses on economic development, political economy, and public economics. In particular he studies governance and accountability in developing countries and consequences for politics and public service delivery.