Author: Buket Bıyıklı

Date: 08 May 2026, Friday Time: 13.30 – 14.30 Online "Leveraging to Lend: A Theory of Lax Credit” by Igor Makarov London School of Economics https://zoom.us/j/3370698252?pwd=OWRmQ1hNNWhRWng2QnhsTENzK1hGUT09&omn=94726702062 Meeting ID: 337 069 8252 Abstract  A pervasive feature of financial intermediation is the use of third-party deal-by-deal capital in addition to balance sheet capital to finance investment activity.  This paper studies how third-party capital and decentralized fundraising jointly shape competition, screening, and welfare in intermediated credit markets. We show that third-party capital serves a novel economic function: it allows informed intermediaries to separate screening decisions from surplus sharing, thereby intensifying competition and reducing the cost of capital to firms. Yet it also amplifies a dynamic adverse selection externality, resulting in excessively lax screening and overinvestment. Consequently, although entrepreneurs benefit from intermediary third-party leverage,…

Date: 06 May 2026, Wednesday Time: 10.30 – 11.30 "AI Integration in Services: Configurations with Humans, Cognitive and Neural Mechanisms, and Their Design in the Absence of Humans” by Aslı Gül Kurt HEC Montreal Abstract  AI technologies are increasingly integrated into services, yet research has largely treated AI as a support tool for human agents. This research investigates how AI can be integrated into service delivery in ways that earn and sustain consumer acceptance. Answering this requires addressing three understudied topics: the configurations of human-AI service providers, the cognitive processes that shape consumer responses to these configurations, and the factors that drive acceptance in the absence of a human agent. This research program addresses each in sequence. Existing work offers limited guidance on how combinations of human and AI presence…

Date: 29 April 2026, Wednesday Time: 10.30 – 11.30 "The Green Transition: Evidence from Corporate Green Revenues” by Philipp Krüger University of Geneva Abstract  We introduce a novel measure of revenues from green products and services for publicly listed firms worldwide that is not spanned by prior sustainability metrics used in the literature. We show that green revenues grew at an accelerated pace after the Paris Agreement. This growth has been driven by innovative US companies converting green patents into green revenues, as well as by firms with higher sustainability-focused institutional ownership before the Paris Agreement. Furthermore, we examine the stock returns of firms with green revenues and find modest evidence of a green alpha in the post-Paris period, primarily concentrated in US stocks. Bio Philipp Krüger is a Professor…

Date: 27 April 2026, Monday Time: 12.30 – 13.30 "Empowered but not Emancipated: Deferential Entrepreneurship under Coercion" by Jeffrey McMullen Imperial College London Abstract  How can organizational actors exercise entrepreneurial agency when they are embedded in coercive “total institutions” marked by tight rules, surveillance, and discretionary punishment? Building on institutional work, practice-driven institutionalism, micro-power, and emancipatory entrepreneurship, this essay develops a mechanism-based account of deferential entrepreneurship under coercion. Using stylized incidents from The Shawshank Redemption as a disciplined illustrative device—a “thought experiment with pictures”—the essay explains how dominated insiders introduce new practices without incurring punishment and why such efforts typically yield localized, revocable empowerment rather than emancipation. The mechanism specifies that an actor (i) identifies an authority’s pain point, (ii) frames a practice with professional legitimacy and deference cues, and…