Finance Economics and Econometrics Lab
Seminar Series
2023 - 2024
Speaker: Thierry Foucault (HEC Paris).
Title: “Displaced by Big Data: Evidence from Active Fund Managers”.
joint with M. Bonelli (LBS).
Date: Thursday, October 19th at 12h30 (Paris Time).
Abstract: Big data allows active asset managers to find new trading signals but doing so requires new skills. Thus, it can reduce the ability of asset managers lacking these skills to produce superior returns. Consistent with this possibility, we find that the release of satellite imagery data tracking firms’ parking lots reduces active mutual funds’stock picking abilities in stocks covered by this data. This decline is stronger for funds that are more likely to rely on traditional sources of expertise (e.g., specialized industry knowledge) to generate their signals, leading them to divest from covered stocks. These results suggest that big data has the potential to displace high-skill workers in finance.
Here is, a link to the speaker’s and the FEELab website:
https://sites.google.com/view/feelabtbs/
You are cordially invited to participate in the seminar, which will take place in Room 322, Lascrosses building
For more information, please contact: Pierre Mella-Barral p.mella-barral@tbs-education.fr