BEGIN:VCALENDAR
METHOD:PUBLISH
VERSION:2.0
BEGIN:VEVENT
DTSTART:20251030T123000
DTEND:20251030T134500
DTSTAMP:20260423T232000
SUMMARY:DF Lunch Seminar with Prof. Jakub Hajda (HEC Montréal)
DESCRIPTION:“Old Workers, New Capital” joint with Philippe d’Astous and Thomas Geelen\n\nWith the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg.\n\nAbstract\n\nHow does workforce aging affect corporate investment? We investigate this question using comprehensive matched employer-employee data. Exploiting variation in the age of newly hired workers, we find that firms hiring older workers significantly boost capital investment. Specifically, a one-year increase in the average age of new hires increases investment rates by 1.6 percentage points–a 13% increase relative to the sample mean. To establish causality, we implement a shift-share instrumental variable approach that leverages industry-level demographic trends interacted with firms' initial workforce composition. Our results are consistent with a model where firms optimally choose between hiring younger and older workers who differ in productivity and wages.\n\nAbout the speaker\n\nJakub Hajda is an Assistant Professor of Finance at HEC Montréal. His research interests include empirical and structural corporate finance, product markets, innovation and corporate governance.\n\nLanguage\n\nEnglish.\n\nThis is a free event. Registration is mandatory.\n\nCold lunches are provided to registered participants only.\n\nLocation: https://www.uni.lu/en/about/campuses/kirchberg-campus/\nRead more: https://www.uni.lu/fdef-en/events/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal/
UID:UL-21145
LOCATION:Kirchberg Campus 6 - rue Richard Couden­­­hove-Kalergi 1359 Luxembourg Luxembourg
URL:https://www.uni.lu/fdef-en/events/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal/
X-MS-OLK-AUTOFILLLOCATION:FALSE
END:VEVENT
END:VCALENDAR