Register for the Wei Yang Tham seminar 10/9


Wei Yang (Harvard)

October 9th, 2023 Presenter: Wei Yang Tham (Harvard) Title: “Money, Time, and Grant Design” The design of research grants might be a useful tool for incentivizing more socially valuable science. To better understand the value of grant design as a policy instrument, we conduct two sets of thought experiments in a nationally representative survey of …

Ayako Yasuda (UC Davis)

September 25, 2023 (Register) Paper: Do Investors Overvalue Startups? Evidence from the Junior Stakes of Mutual Funds (pdf) We show that mutual funds report their junior stakes in startups at 43% higher valuation than model fair values that consider multi-tier capital structures of startups. The latest-issued and most senior security is worth 48% per share …