Author: Buket Bıyıklı

Date: 25 February 2026, Wednesday Time: 10.30 – 11.30 Place: MA-330 "From Harm to Harmony? Epistemic Dominance and the Practice of Moral Repair” by Jordi Vives IESE Abstract  The restoration of damaged stakeholder relationships after a transgression, “moral repair,” has become an important and visible corporate practice. Yet, business ethics research offers incomplete guidance on it, because although organizations are investing in moral repair, victims frequently report dissatisfaction. Critical scholars generally attribute these failures to systemic power, but tend to overlook organization level repair tactics. Integrating these perspectives, we examine how systemic power shapes moral repair. Drawing on a case study of corporate repair efforts after the 2012 Marikana massacre in South Africa, we show that enduring victim dissatisfaction arises from epistemic dominance, a form of hegemonic power rooted in…

Date: 18 February 2026, Wednesday Time: 10.30 – 11.30 Place: MA-330 "Monetary Policy Shocks: A New Hope — Large Language Models and Central Bank Communication” by Ruben Fernandez Fuertes Bocconi University Abstract  I develop a multi-agent LLM framework that processes Federal Reserve communications to construct narrative monetary policy surprises. By analyzing Beige Books and Minutes released before each FOMC meeting, the system generates conditional expectations that yield less noisy surprises than market-based measures. These surprises produce theoretically consistent impulse responses where contractionary shocks generate persistent disinflationary effects, and enable profitable yield curve trading strategies that outperform alternatives. By directly extracting expectations rather than cleaning surprises ex post, this approach demonstrates how multi-agent LLMs can implement narrative identification at scale without contamination in high-frequency measure. Bio Rubén Fernández-Fuertes is a financial…

Date: 11 February 2026, Wednesday Time: 10.30 – 11.30 Place: MA-330 "Inflation Expectations and Firms' Decisions in High Inflation” by Okan Akarsu Sabancı University Abstract  We conducted a survey of Turkish firms, using randomized treatments to provide varied information about inflation in a high-inflation environment. By matching the survey data with administrative firm-level data on employment, sales, credit, and foreign exchange transactions, we explore the impact of exogenous variations in inflation expectations on firms' behavior, borrowing decisions, and expectations. Our findings are summarized in seven facts: (i) information treatments are effective at generating exogenous variation in inflation expectations, even when inflation is high; (ii) the pass-through to firms' own price, wage, and cost expectations is strong, reaching up to 60%; (iii) firms adopt a supply-side interpretation of inflation—lower inflation expectations…

Date: 4 February 2026, Wednesday Time: 10.30 – 11.30 Place: MA-330 "The Pricing and Economic Impact of Legal Risk" by Dean Ryu Saïd Business School – Oxford Abstract  Legal risk is an inherent feature of markets, rooted in the institutions that enable economic activity, yet it remains difficult to measure across firms. This paper constructs a text-based measure of firm-level legal risk (LRISK) using earnings call transcripts. LRISK predicts class action lawsuits and spikes during periods of heightened legal incidents. A one standard deviation increase predicts a 3–7% decline in future investment and lowers firms’ reliance on debt, consistent with precautionary motives. Legal risk is positively priced, particularly after 2010, and varies across legal origins, reflecting institutional differences. Bio Dean Ryu is a Finance Ph.D. Candidate at Said Business School,…

Date: 30 January 2026, Friday Time: 13.30 – 14.30 Place: MA-330 "Breaching the Chinese Wall: Cross-Market Information Flow Following Financial Institution Mergers" by Ehsan Mahdikhani Stockholm School of Economics Abstract  How does access to private loan information affect institutional investors' equity returns? Exploiting mergers between asset managers and lenders as a plausibly exogenous shock to loan-side information access, we find that after gaining access institutional investors earn higher abnormal equity returns: within institutions, managers earn 3.1 pp higher annualized returns on stocks for which they have loan-side access than on their other holdings without such access, and across institutions trading the same stock, informed managers outperform equity-only peers by 1.7 pp annualized, consistent with debt positions conferring information unavailable to pure shareholders. Mechanism tests show larger gains when financial-reporting covenants…