{"id":9278,"date":"2024-03-07T16:15:23","date_gmt":"2024-03-07T15:15:23","guid":{"rendered":"https:\/\/www.uni.lu\/fdef-en\/?post_type=events&#038;p=9278"},"modified":"2024-03-07T16:15:25","modified_gmt":"2024-03-07T15:15:25","slug":"df-lunch-seminar-prof-francesco-celentano-hec-lausanne","status":"publish","type":"events","link":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-prof-francesco-celentano-hec-lausanne\/","title":{"rendered":"DF Lunch Seminar &#8211; Prof. Francesco Celentano, HEC Lausanne"},"content":{"rendered":"\n<section class=\"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-prof-francesco-celentano-hec-lausanne-registration-858678950857?aff=oddtdtcreator&#038;utm_campaign=post_publish&#038;utm_medium=email&#038;utm_source=eventbrite&#038;utm_content=shortLinkNewEmail\"\n                target=\"_blank\"\n        class=\"btn btn--primary\"\n            >Registration<\/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\/calendar?post_type=events&#038;p=9278&#038;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<p><strong><strong>CEO Succession Planning<\/strong><\/strong><\/p>\n\n\n\n<p><em>With the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg.<\/em><\/p>\n\n\n\n<p><strong>Abstract:<\/strong><\/p>\n\n\n\n<p>We document that CEO succession plans reduce CEO turnover costs and increase the speed of learning about CEO successors when these are internally promoted, and do not negatively affect firm performance. We incorporate these findings in a dynamic model featuring a board of directors learning over time about CEO ability and taking firing and plan adoption decisions. To rationalize the adoption rate, the model needs a large agency cost. The model also predicts that eliminating such cost would greatly increase shareholder value and that the main channel driving adoptions is the cost saving rather than the learning channel.<\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<p><strong>About <strong>Prof. Francesco Celentano<\/strong>:<\/strong><\/p>\n\n\n\n<p><em><strong><strong>Prof. Francesco Celentano<\/strong><\/strong> is an Assistant Professor of Finance at HEC Lausanne and Faculty Member at the Swiss Finance Institute. He received his Ph.D. in Economics and Finance from the University of Wisconsin-Madison in 2021. His research interests are in corporate finance, corporate governance, and macroeconomics.<\/em><\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<p><strong>Language:<\/strong> English<\/p>\n\n\n\n<p>This is a free seminar. Registration is mandatory.<\/p>\n\n\n\n<p>The seminar will be held in person.<\/p>\n\n\n\n<p>Cold lunches are provided to registered participants.<\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<div class=\"wp-block-columns is-layout-flex wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\"><figure class=\"wp-block-dev4-reusable-blocks-image  object-fit--contain\">\n    \n<img decoding=\"async\" class=\"wp-block-image unilux-custom-image-block\"\n                alt=\"\"\n            src=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/08\/FNR-logo.jpg.png\"\n                srcset=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/08\/FNR-logo.jpg-300x50.png 300w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/08\/FNR-logo.jpg-1024x172.png 1024w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/08\/FNR-logo.jpg-768x129.png 768w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/08\/FNR-logo.jpg-1536x258.png 1536w, https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2023\/08\/FNR-logo.jpg.png 1920w\"\n                style=\"object-position: 0.00% 0.00%; font-family: &quot;object-fit: contain; object-position: 0.00% 0.00%;&quot;; aspect-ratio: 16\/9; object-fit: contain; width: 75%;\"\n        loading=\"lazy\"\n\/>    <\/figure><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<p><em><strong>Supported by the Luxembourg National Research Fund (FNR) 17984041<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":85,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"featured_image_focal_point":[],"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":"2024-03-21 12:15:00","event_end_date":"2024-03-21 13:30:00","event_speaker_name":"Prof. Francesco Celentano","event_speaker_link":"","event_is_online":false,"event_location":"JFK Building","event_street":"29, Avenue J.F Kennedy","event_location_link":"https:\/\/www.uni.lu\/en\/about\/campuses\/kirchberg-campus\/","event_zip_code":"1855","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) - 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