TBS International Electives & 

Finance Economics and Econometrics Lab

Research Workshop

Date: Wednesday, March 9th, 2022, from 18h00 to 19h30 (Paris Time).

Under the implusion of Andrea Mantovani, TBS is organizing a workshop, where three participants of the TBS international electives will present research papers. Each speaker will make a 25 mins presentation. You are cordially invited to participate to the workshop, which will take place in Room 327, Lascrosses building. This workshop will be followed by an ``Aperitif” from 19h30 to 20h30 at Novotel Compans, where TBS professors and staff are invited.

1st speaker: Joan Calzada (U of Barcelona).

Title: “Do Search Engines Increase Concentration in Media Markets?”

joint with N. Duch-Brown (European Commission) and Ricard Gil (Queen’s U)

Abstract: Search engines are one of the main channels to access news content of traditional newspapers. In the European Union, organic search traffic from Google accounts for 35% of news outlets’ visits. Yet, the effects of Google Search on market competition and information diversity are ambiguous, as Google indexes news outlets considering both domain authority and information accuracy. Using detailed daily data traffic for 606 news outlets from 15 European countries, we assess the effect of Google Search’s indexation on search visits by exploiting exogenous variation in news outlets’ indexation from nine core algorithm updates rolled out by Google between 2018 and 2020. Several conclusions follow from our estimations. First, Google core updates overall reduce the number of keywords that news outlets have in top positions in search results. Second, keywords ranked in top search position have a positive effect on news outlets’ visits. Third, our results are robust when we focus the analysis on different types of news outlets, but are less conclusive when we consider national markets separately. Our paper also analyzes the effects of Google core updates on media market concentration. We find that the three “big” core updates identified in this period reduced market concentration by 1%, but this effect was mostly compensated by the rest of the updates.

Bio: Here is a link to the speaker’s website

http://www.ub.edu/beat/members/joan-calzada/

2nd speaker: J. Miguel Imas (Kingston U, London).

Title: “Zimbabwe Women Entrepreneurs”

joint with L. Garcia-Lorenzo (LSE) and A Weston (OCAD, Canada)

Abstract: This study is based on ethnographic-interview research conducted with 24 Zimbabwean women entrepreneurs to examine colonial and patriarchy practices that impact entrepreneurship. The stories reveal the colonial past as well as the patriarchal norms that disenfranchise women entrepreneurs in Zimbabwe. Yet, they also reveal their creativity, struggle, resilience and resistance and their ongoing fight to construct their own identities as women entrepreneurs. The paper contributes to enhance and advance postcolonial and decolonial perspectives in the field of entrepreneurship and organization studies.

Bio: Here is a link to the speaker’s website

https://www.kingston.ac.uk/staff/profile/dr-j-miguel-imas-425/

3rd speaker: Samuele Murtinu (Utrecht U).

Title: “Families in Corporate Venture Capital”

joint with M. D. Amore (Bocconi U) and V. Pelucco (Bocconi U)

Abstract: We show that families are an engine of venturing activities: one third of corporate venture capital (CVC) deals in the US from 2000 to 2017 originated from family firms. Family firms have a distinct approach to corporate venturing: they syndicate more often, join larger syndicates, and make more proximate deals (geography- and industry-wise), especially when investing in younger ventures and when the parent organization is led by a family CEO. This investment style maps into performance results: family CVC-backed ventures exhibit a higher likelihood of successful exit, better market performance, and more valuable innovation post-IPO. After the IPO, founders are more likely to maintain control when their venture is backed by family CVC investors. At the level of the parent organization, we find that family firms generate more shareholder value than non-family firms from their CVC activities. Moreover, family CVC activities are less sensitive to an external financial shock.

Bio: Here is a link to the speaker’s website

https://www.uu.nl/staff/SMurtinu