{"id":21145,"date":"2025-09-03T15:02:24","date_gmt":"2025-09-03T13:02:24","guid":{"rendered":"https:\/\/www.uni.lu\/fdef-en\/?post_type=events&#038;p=21145"},"modified":"2025-09-03T15:10:00","modified_gmt":"2025-09-03T13:10:00","slug":"df-lunch-seminar-with-prof-jakub-hajda-hec-montreal","status":"publish","type":"events","link":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/","title":{"rendered":"DF Lunch Seminar with Prof. Jakub Hajda (HEC Montr\u00e9al)"},"content":{"rendered":"\n<section class=\"py-0 wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\">\n<ul class=\"wp-block-unilux-blocks-custom-buttons btn-list\"><li class=\"wp-block-unilux-blocks-custom-button\"    aria-disabled=\"false\"\n    >\n    <a\n        role=\"link\"\n        aria-disabled=\"false\"\n                    href=\"https:\/\/www.eventbrite.fr\/e\/df-lunch-seminar-w-prof-jakub-hajda-hec-montreal-registration-1653977875349?aff=oddtdtcreator\"\n                target=\"_blank\"\n        class=\"btn btn--primary\"\n            >Register<\/a>\n<\/li>\n\n\n<li class=\"wp-block-unilux-blocks-custom-button\"    aria-disabled=\"false\"\n    >\n    <a\n        role=\"link\"\n        aria-disabled=\"false\"\n                    href=\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/calendar\"\n                target=\"_self\"\n        class=\"btn btn--secondary\"\n            >Add to calendar<\/a>\n<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<h4 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"old-workers-new-capital-joint-with-philippe-dastous-and-thomas-geelen\"\n    >\n\u201cOld Workers, New Capital\u201d joint with Philippe d\u2019Astous and Thomas Geelen<\/h4>\n\n\n\n<p>With the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg.<\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<h4 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"abstract\"\n    >\nAbstract<\/h4>\n\n\n\n<p>How 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\u2013a 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&#8217; 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.<\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<h4 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"about-the-speaker\"\n    >\nAbout the speaker<\/h4>\n\n\n\n<p><a href=\"https:\/\/sites.google.com\/site\/jakubhajda\/\" target=\"_blank\" rel=\"noreferrer noopener\">Jakub Hajda<\/a> is an Assistant Professor of Finance at HEC Montr\u00e9al. His research interests include empirical and structural corporate finance, product markets, innovation and corporate governance.<\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<h4 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"language\"\n    >\nLanguage<\/h4>\n\n\n\n<p>English.<\/p>\n\n\n\n<p>This is a free event. Registration is mandatory.<\/p>\n\n\n\n<p>Cold lunches are provided to registered participants only.<\/p>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":85,"featured_media":19172,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"featured_image_focal_point":{"x":0,"y":0.32},"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"","uluxPrePostTitle":"","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"event_start_date":"2025-10-30 12:30:00","event_end_date":"2025-10-30 13:45:00","event_speaker_name":"Prof. Jakub Hajda","event_speaker_link":"","event_is_online":false,"event_location":"Kirchberg Campus","event_street":"6, rue Richard Couden\u00ad\u00ad\u00adhove-Kalergi","event_location_link":"https:\/\/www.uni.lu\/en\/about\/campuses\/kirchberg-campus\/","event_zip_code":"1359","event_city":"Luxembourg","event_country":"Luxembourg"},"events-topic":[301],"events-type":[323,322,315],"organisation":[116,101],"authorship":[85],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DF Lunch Seminar: Prof. Jakub Hajda on Workforce Aging and Corporate Investment \u2013 University of Luxembourg<\/title>\n<meta name=\"description\" content=\"Join the DF Lunch Seminar at the University of Luxembourg with Prof. Jakub Hajda (HEC Montr\u00e9al) as he explores the impact of workforce aging on corporate investment decisions. Open to students, researchers, and professionals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DF Lunch Seminar with Prof. Jakub Hajda (HEC Montr\u00e9al)\" \/>\n<meta property=\"og:description\" content=\"Join the DF Lunch Seminar at the University of Luxembourg with Prof. Jakub Hajda (HEC Montr\u00e9al) as he explores the impact of workforce aging on corporate investment decisions. Open to students, researchers, and professionals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/\" \/>\n<meta property=\"og:site_name\" content=\"FDEF EN\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/uni.FDEF.lu\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-03T13:10:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1073009376-scaled.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1463\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/\",\"url\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/\",\"name\":\"DF Lunch Seminar: Prof. Jakub Hajda on Workforce Aging and Corporate Investment \u2013 University of Luxembourg\",\"isPartOf\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1073009376-scaled.jpeg\",\"datePublished\":\"2025-09-03T13:02:24+00:00\",\"dateModified\":\"2025-09-03T13:10:00+00:00\",\"description\":\"Join the DF Lunch Seminar at the University of Luxembourg with Prof. Jakub Hajda (HEC Montr\u00e9al) as he explores the impact of workforce aging on corporate investment decisions. Open to students, researchers, and professionals.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#primaryimage\",\"url\":\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1073009376-scaled.jpeg\",\"contentUrl\":\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1073009376-scaled.jpeg\",\"width\":2560,\"height\":1463,\"caption\":\"Financial chart with up trend line graph. Wealth management with risk diversification risk\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.uni.lu\/en\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Faculty of Law, Economics and Finance\",\"item\":\"https:\/\/www.uni.lu\/fdef-en\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Events\",\"item\":\"https:\/\/www.uni.lu\/fdef-en\/events\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"DF Lunch Seminar with Prof. Jakub Hajda (HEC Montr\u00e9al)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/#website\",\"url\":\"https:\/\/www.uni.lu\/fdef-en\/\",\"name\":\"FDEF\",\"description\":\"Faculty of Law, Economics and Finance I Uni.lu\",\"publisher\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/#organization\"},\"alternateName\":\"Faculty of Law, Economics and Finance I University of Luxembourg\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.uni.lu\/fdef-en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/#organization\",\"name\":\"FDEF - University of Luxembourg I Uni.lu\",\"alternateName\":\"Faculty of Law, Economics and Finance\",\"url\":\"https:\/\/www.uni.lu\/fdef-en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2026\/03\/03111918\/FDEF_SM-Profile_1600x1600px-scaled.jpg\",\"contentUrl\":\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2026\/03\/03111918\/FDEF_SM-Profile_1600x1600px-scaled.jpg\",\"width\":2560,\"height\":2560,\"caption\":\"FDEF - University of Luxembourg I Uni.lu\"},\"image\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/uni.FDEF.lu\",\"https:\/\/www.linkedin.com\/showcase\/fdef-uni-lu\/\"],\"description\":\"Faculty of Law, Economics and Finance I Uni.lu\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"DF Lunch Seminar: Prof. Jakub Hajda on Workforce Aging and Corporate Investment \u2013 University of Luxembourg","description":"Join the DF Lunch Seminar at the University of Luxembourg with Prof. Jakub Hajda (HEC Montr\u00e9al) as he explores the impact of workforce aging on corporate investment decisions. Open to students, researchers, and professionals.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/","og_locale":"en_GB","og_type":"article","og_title":"DF Lunch Seminar with Prof. Jakub Hajda (HEC Montr\u00e9al)","og_description":"Join the DF Lunch Seminar at the University of Luxembourg with Prof. Jakub Hajda (HEC Montr\u00e9al) as he explores the impact of workforce aging on corporate investment decisions. Open to students, researchers, and professionals.","og_url":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/","og_site_name":"FDEF EN","article_publisher":"https:\/\/www.facebook.com\/uni.FDEF.lu","article_modified_time":"2025-09-03T13:10:00+00:00","og_image":[{"width":2560,"height":1463,"url":"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1073009376-scaled.jpeg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/","url":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/","name":"DF Lunch Seminar: Prof. Jakub Hajda on Workforce Aging and Corporate Investment \u2013 University of Luxembourg","isPartOf":{"@id":"https:\/\/www.uni.lu\/fdef-en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#primaryimage"},"image":{"@id":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#primaryimage"},"thumbnailUrl":"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1073009376-scaled.jpeg","datePublished":"2025-09-03T13:02:24+00:00","dateModified":"2025-09-03T13:10:00+00:00","description":"Join the DF Lunch Seminar at the University of Luxembourg with Prof. Jakub Hajda (HEC Montr\u00e9al) as he explores the impact of workforce aging on corporate investment decisions. Open to students, researchers, and professionals.","breadcrumb":{"@id":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#primaryimage","url":"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1073009376-scaled.jpeg","contentUrl":"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1073009376-scaled.jpeg","width":2560,"height":1463,"caption":"Financial chart with up trend line graph. Wealth management with risk diversification risk"},{"@type":"BreadcrumbList","@id":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-prof-jakub-hajda-hec-montreal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.uni.lu\/en"},{"@type":"ListItem","position":2,"name":"Faculty of Law, Economics and Finance","item":"https:\/\/www.uni.lu\/fdef-en\/"},{"@type":"ListItem","position":3,"name":"Events","item":"https:\/\/www.uni.lu\/fdef-en\/events\/"},{"@type":"ListItem","position":4,"name":"DF Lunch Seminar with Prof. Jakub Hajda (HEC Montr\u00e9al)"}]},{"@type":"WebSite","@id":"https:\/\/www.uni.lu\/fdef-en\/#website","url":"https:\/\/www.uni.lu\/fdef-en\/","name":"FDEF","description":"Faculty of Law, Economics and Finance I Uni.lu","publisher":{"@id":"https:\/\/www.uni.lu\/fdef-en\/#organization"},"alternateName":"Faculty of Law, Economics and Finance I University of Luxembourg","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.uni.lu\/fdef-en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.uni.lu\/fdef-en\/#organization","name":"FDEF - University of Luxembourg I Uni.lu","alternateName":"Faculty of Law, Economics and Finance","url":"https:\/\/www.uni.lu\/fdef-en\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.uni.lu\/fdef-en\/#\/schema\/logo\/image\/","url":"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2026\/03\/03111918\/FDEF_SM-Profile_1600x1600px-scaled.jpg","contentUrl":"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2026\/03\/03111918\/FDEF_SM-Profile_1600x1600px-scaled.jpg","width":2560,"height":2560,"caption":"FDEF - University of Luxembourg I Uni.lu"},"image":{"@id":"https:\/\/www.uni.lu\/fdef-en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/uni.FDEF.lu","https:\/\/www.linkedin.com\/showcase\/fdef-uni-lu\/"],"description":"Faculty of Law, Economics and Finance I Uni.lu"}]}},"_links":{"self":[{"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/events\/21145"}],"collection":[{"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/events"}],"about":[{"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/types\/events"}],"author":[{"embeddable":true,"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/users\/85"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/comments?post=21145"}],"version-history":[{"count":3,"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/events\/21145\/revisions"}],"predecessor-version":[{"id":21148,"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/events\/21145\/revisions\/21148"}],"wp:authorship":[{"embeddable":true,"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/users\/85"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/media\/19172"}],"wp:attachment":[{"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/media?parent=21145"}],"wp:term":[{"taxonomy":"events-topic","embeddable":true,"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/events-topic?post=21145"},{"taxonomy":"events-type","embeddable":true,"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/events-type?post=21145"},{"taxonomy":"organisation","embeddable":true,"href":"https:\/\/www.uni.lu\/fdef-en\/wp-json\/wp\/v2\/organisation?post=21145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}