Margarida Soares
Assistant Professor of Finance, Nova SBE
Email: margarida.soares at novasbe.pt
I am an Assistant Professor of Finance at Nova School of Business and Economics since September 2019. My research interests lie in the intersection of Corporate Finance, Labor Economics with an emphasis on gender decisions and outcomes, and Innovation.
Finance Knowledge Center, Economics for Policy Knowledge Center
Working Papers
Are Women More Exposed To Firm Shocks? with Ramin Baghai and Rui Silva
Abstract: Workers care deeply about job and pay stability. Given potentially differing risk attitudes, we investigate whether firm wage and employment insurance enjoyed by workers differs by gender. We find that women are less protected than men against idiosyncratic shocks to their employers---a gender gap in firm insurance. The elasticity of women's wages with respect to variations in firm's performance is 95% higher than that of men, and the sensitivity of dismissal to firm shocks is 37% higher for female than for male employees. These gender differences are larger for employees with children, in small firms, and in firms without female executives.
Presentations: UCL School of Management, Nova SBE, 2023 Midwestern Finance Association Annual Meeting, 2023 Labor and Finance Group Conference at Columbia, 2023 Financial Intermediation Research Society Conference, Mistra Center for Sustainable Markets at the Stockholm School of Economics, 2023 CSEF-RCFS Conference on Finance, Labor and Inequality, XII IBEO Workshop on Institutions, Individual Behaviour, and Economic Outcomes, ESSFM 2023 in Gerzensee, 2023 European Finance Association Conference, Cambridge-Nova Workshop 2023, 2024 American Economic Association Annual meeting.
The Value of Trademarks with Pranav Desai, Ekaterina Gavrilova and Rui Silva
Journal of Financial Economics, Revise and Resubmit
Abstract: We create a new measure of the value of an important, but previously understudied, intangible asset—trademarks. We quantify the stock market reaction to the publication of almost one million individual trademarks manually matched to firms. We find that trademarks are used ubiquitously and possess substantial value: the median trademark is worth $22.5 million. Firms that publish trademarks subsequently launch new products, increase sales, invest more in physical capital, hire more employees, increase production output, become more profitable, and increase their market share considerably. For identification, we exploit the quasi-random assignment of USPTO examining attorneys to trademarks.
Presentations: Nova SBE, Cambridge-Nova Workshop 2022, 6th Entrepreneurial Finance (ENTFIN) Annual Meeting, 2022 European Winter Meeting of the Econometric Society, 2022 Brazilian Accounting Research Conference, FMA 2022 Meeting, 2023 American Finance Association Annual Meeting, Techical University of Munich, Lubrafin 2023 , FMA European Conference 2023, Finance Forum 2023, 12th Portuguese Finance Network (PFN) Conference, 2023 European Economic Association Conference.
Media
In Portuguese:
O capital humano como motor de inovação, Jornal Económico
A mulher enquanto agente económico, Jornal Económico
A baixa representatividade feminina em cargos de liderança em Portugal, Jornal Económico