{"id":5084,"date":"2023-09-29T11:41:44","date_gmt":"2023-09-29T09:41:44","guid":{"rendered":"https:\/\/www.uni.lu\/fdef-en\/?post_type=news&#038;p=5084"},"modified":"2023-11-14T14:44:26","modified_gmt":"2023-11-14T13:44:26","slug":"df-lunch-seminar-victoria-vanasco-barcelona-school-of-economics","status":"publish","type":"news","link":"https:\/\/www.uni.lu\/fdef-en\/news\/df-lunch-seminar-victoria-vanasco-barcelona-school-of-economics\/","title":{"rendered":"DF Lunch Seminar &#8211; Victoria Vanasco, Barcelona School of Economics"},"content":{"rendered":"\n<section class=\"wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\">\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\n<p><strong>Department of Finance Lunch Seminar &#8211; Victoria Vanasco, Barcelona School of Economics<\/strong><\/p>\n\n\n\n<p><strong>\u201cThe value of undrawn credit lines\u201d<\/strong><\/p>\n\n\n\n<p><strong>Speaker: <\/strong>Victoria Vanasco<br>Barcelona School of Economics<\/p>\n\n\n\n<p><strong>DATE:<\/strong> Friday, 6 October 2023<\/p>\n\n\n\n<p><strong>TIME:<\/strong> 12.15 &#8211; 13.30<\/p>\n\n\n\n<p><a href=\"https:\/\/www.eventbrite.fr\/e\/df-lunch-seminar-victoria-vanasco-barcelona-school-of-economics-registration-717756367617?aff=oddtdtcreator&amp;mc_eid=9f00369127&amp;mc_cid=06bcb15d0d\" target=\"_blank\" rel=\"noreferrer noopener\">Registration link<\/a><\/p>\n\n\n\n<p><strong>Abstract:<\/strong><\/p>\n\n\n\n<p>We develop a model that suggests a heretofore unexplored role of credit lines: To mitigate debt dilution. The results give a new perspective on the literature on leverage ratchet effects, suggesting they can be curbed by credit lines, which act as latent contracts, suggesting collusive outcomes are unlikely to arise in dynamic environments. The model explains numerous facts, including why credit lines are pervasive but rarely drawn down and why they are bundled with loans, especially for riskier borrowers. We find that the risk of credit line revocation increases borrower leverage and riskiness, suggesting that limited lender commitment can contribute to corporate distress.<\/p>\n\n\n\n<p>The seminar will be held in-person.<br><br><strong><u>Venue:<\/u><\/strong><br>University of Luxembourg<br>Kirchberg Campus<br>6, Rue Richard Coudenhove-Kalergi Main Building<br>Room D10F <br>1359 Kirchberg<\/p>\n\n\n\n<p><br><\/p>\n\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: 51.00% 0.00%; font-family: &quot;object-fit: contain; object-position: 51.00% 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%\">\n<p><em>This event is Supported by the Luxembourg National Research Fund (2022\/17573036)<\/em><\/p>\n<\/div>\n<\/div>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":47,"featured_media":0,"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},"news-category":[],"news-topic":[],"organisation":[101],"authorship":[],"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 - Victoria Vanasco, Barcelona School of Economics - FDEF news I University of Luxembourg<\/title>\n<meta name=\"description\" content=\"With the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg. 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