via Zoom

https://stockholmuniversity.zoom.us/j/63759324655, Meeting ID: 637 5932 4655

Anyone is welcomed to join but please adhere to the hosts instructions and understand you can be removed if you disturb the seminar.

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Trainspotting: Board Appointments in Private Firms, with Egle Karmaziene

This paper examines how the size of the corporate directors' labor market affects board appointments in Italian private limited liability firms.

As an exogenous shock to a firm's access to potential non-local directors, we exploit the gradual expansion of the high-speed railway network that improves intercity mobility.

We find that the non-local supply of directors increases the positive assortative matching between directors and firms: high-quality firms improve the quality of their boards, while low-quality firms reduce it.

We also show that director quality is positively associated with firm growth and productivity, and negatively associated with the probability of default.

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Please contact seminar administrator ulrika.galnander@iies.su.se if you have any questions regarding the seminar.