LIDAM Finance Seminar - Gaëlle Le Fol

22/05/2026 - 11:00 - LIDAM D.251 -  
 

Gaëlle Le Fol 

(Université Paris Dauphine) 

will give a presentation on 

Who Measures and Who Reacts? ESG Scores, Institutional Demand, and Asset Pricing

Abstract : 

How does ESG information reach asset prices, and why does the answer depend on who produces the rating? Using a causal mediation framework applied to U.S.\ equities over 2016--2025 with Refinitiv and MSCI ratings, we show that approximately 19\% of the negative ESG premium is transmitted through institutional portfolio reallocation --- a lower bound, given the exclusion of neutral investors and the growth of passive management. The decomposition reveals that the market absorbs demand symmetrically regardless of investor type, yet ESG-averse investors respond far more aggressively than ESG-oriented ones, generating an implicit short that dominates the indirect channel. This separation between symmetric market structure and asymmetric behaviour answers the paper's titular questions: \emph{who reacts} is revealed by investor heterogeneity, \emph{who measures} by the provider-specific activation of demand. Quasi-experimental evidence from index reconstitutions confirms causality.

LIDAM Internal Seminar - Matt Lowe

26/05/2026 - 12:45 - Doyen 22

Matt Lowe

(Vancouver School of Economics)

will give a presentation on 

Identity Uncertainty

Abstract

Social identity is not always directly observable: individuals may choose to mask identity markers, and these strategic decisions may or may not succeed in shifting others’ beliefs about their identity. We study the economic and social effects of identity concealment in the context of caste in India—a social identity that is not visibly discernible. We paired high- and low-caste men for data entry tasks and randomly assigned these pairs to interact under one of three conditions: with knowledge of full names, including caste-distinctive surnames (Revealed); with first names only, giving participants the freedom to hide or reveal identity (First Name Only); or with instructions to keep caste identity hidden (Hidden). The First Name Only and Hidden conditions have strong negative effects on whether a participant correctly guesses their partner's caste at endline, and increase uncertainty in their guesses. These identity-concealment conditions reduce trust and weaken social relations, with little effect on productivity. Additional analyses suggest that the key mechanism is uncertainty about caste identity. Our findings are contrary to the conventional wisdom that group boundaries hinder social relations—we find that disclosure of group identity brings partners together.

(with Anujit Chakraborty (UC Davis), Arkadev Ghosh (Duke), and Gareth Nellis (UPenn))

EXALT Workshop - Learning spatio-temporal climate extremes

27/05/2026 - 09:00 - Aula Magna (Foyer Royal)
 

EXALT Workshop - Learning spatio-temporal climate extremes

IMAL Workshop - Imperfect Data : From Mathematical Foundations to Applications in Life Sciences

28/05/2026 - 09:30 - Martin’s hotel
 

IMAL Workshop - Imperfect Data : From Mathematical Foundations to Applications in Life Sciences.

The workshop will be held at Martin’s Agora City Resort in Louvain-la-Neuve (Rue de l’Hocaille 1-3, 1348 Louvain-la-Neuve) and a tentative schedule, as well as the list of speakers and title of their presentation is listed below:
 

9h30  Welcome words/Introduction

9h40  - 10h20 Rajen Shah (University of Cambridge) : "Hunt and test for assessing the fit of semiparametric regression models".
10h20 - 11h00 Lise Léonard (UCLouvain) : "Statistical Inference and Model Averaging in High-Dimensional Regression".

Pause

11h20 - 12h00 Gaëtan Louvet (ULB/UNamur) : "Robustness of Tukey depth median"
12h00 - 12h40 Jeong Min Jeon (Seoul National University) :  "Local Fréchet regression with spherical predictors".

Lunch break

14h00 - 14h40 Cristian Preda (Université Lille) : "Categorical functional data analysis with application to clustering patient trajectories after discharge from an acute geriatric unit".
14h40 - 15h20 Hortense Doms (UCLouvain) : "Joint modeling of longitudinal HRQoL data accounting for the risk of competing dropouts".

Pause

15h40 - 16h20 Agathe Guilloux (INRIA) : "Dynamic survival prediction with time-dependent covariates observed at irregular frequency".
16h20 - 17h00 Negera Wakgari Deresa (KU Leuven) : "On an extension of the Cox model for time-dependent covariates under dependent censoring with unknown association".

17h00  Closing

17h10  Drinks and social time