{"id":19396,"date":"2025-04-28T15:24:54","date_gmt":"2025-04-28T13:24:54","guid":{"rendered":"https:\/\/www.uni.lu\/fdef-en\/?post_type=events&#038;p=19396"},"modified":"2025-04-28T15:25:11","modified_gmt":"2025-04-28T13:25:11","slug":"df-lunch-seminar-with-yuri-tserlukevich-arizona-state-university","status":"publish","type":"events","link":"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-yuri-tserlukevich-arizona-state-university\/","title":{"rendered":"DF Lunch Seminar with Yuri Tserlukevich (Arizona State 8xav福利导航)"},"content":{"rendered":"\n<section class=\"py-0 wp-block-unilux-blocks-free-section section\"><div class=\"container xl:max-w-screen-xl\">\n<ul class=\"wp-block-unilux-blocks-custom-buttons btn-list\"><li class=\"wp-block-unilux-blocks-custom-button\"    aria-disabled=\"false\"\n    >\n    <a\n        role=\"link\"\n        aria-disabled=\"false\"\n                    href=\"https:\/\/www.eventbrite.com\/e\/lunch-seminar-w-yuri-tserlukevich-arizona-state-university-registration-1338477635639?aff=oddtdtcreator\"\n                target=\"_blank\"\n        class=\"btn btn--primary\"\n            >Register<\/a>\n<\/li>\n\n\n<li class=\"wp-block-unilux-blocks-custom-button\"    aria-disabled=\"false\"\n    >\n    <a\n        role=\"link\"\n        aria-disabled=\"false\"\n                    href=\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-yuri-tserlukevich-arizona-state-university\/calendar\"\n                target=\"_self\"\n        class=\"btn btn--secondary\"\n            >Add to calendar<\/a>\n<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<h4 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"corporate-hedging-contract-rights-and-basis-risk\"\n    >\n<strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>\u201cCorporate Hedging, Contract Rights, and Basis Risk\u201d<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/h4>\n\n\n\n<p>With the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg.<\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<h5 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"abstract\"\n    >\nAbstract<\/h5>\n\n\n\n<p>A hedging contract can be terminated by a counterparty following a firm&#8217;s event of default, such as a credit downgrade, covenant violation, or bankruptcy. This right is often exercised. Our model shows that although the termination right reduces hedging costs, it can reduce firm value because the counterparty exercising it does not consider the externality imposed on the firm. Consequently, firms hedge less, especially when facing high bankruptcy costs, and are more likely to enter liquidation. Using detailed hedging data, we confirm the model&#8217;s predictions and provide an explanation for low hedging during financial distress.<\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<h5 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"about-the-speaker\"\n    >\nAbout the speaker<\/h5>\n\n\n\n<p><a href=\"https:\/\/search.asu.edu\/profile\/1451080\">Yuri Tserlukevich<\/a> is an Associate Professor at Arizona State 8xav福利导航. He is a\u00a0financial economist\u00a0at Arizona State 8xav福利导航. Yuri&#8217;s research interests are in dynamic models of firm behaviour, real options, asset pricing implications of investment options, capital structure, debt structure, employee compensation.\u00a0He also taught and conducted research at\u00a0Hong Kong 8xav福利导航 of Science and Technology, Bocconi 8xav福利导航 in Milan,\u00a0 New Economic School in Moscow, and\u00a0WU university in Vienna. Beginning 2014 he is a member of the Advisory Board of the National Bank of the Republic of Belarus. Yuri Tserlukevich obtained his Ph.D. from 8xav福利导航 of California at Berkeley.<\/p>\n\n\n<div class=\"wp-block-unilux-blocks-spacer is-spacer-size-sm\"><\/div>\n\n\n<h5 class=\"has-text-align-left wp-block-unilux-blocks-heading\"        id=\"language\"\n    >\nLanguage<\/h5>\n\n\n\n<p>English.<\/p>\n\n\n\n<p>This is a free event. Registration is mandatory.<\/p>\n\n\n\n<p>Cold lunches are provided to registered participants only.<\/p>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":85,"featured_media":19397,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","format":"standard","meta":{"featured_image_focal_point":{"x":0,"y":0.32},"show_featured_caption":false,"ulux_newsletter_groups":"","uluxPostTitle":"","uluxPrePostTitle":"","_trash_the_other_posts":false,"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":"[]","_tribe_ticket_has_attendee_info_fields":false,"event_start_date":"2025-05-22 12:30:00","event_end_date":"2025-05-22 13:45:00","event_speaker_name":"Yuri Tserlukevich","event_speaker_link":"","event_is_online":false,"event_location":"Kirchberg Campus","event_street":"6, rue Richard Couden\u00ad\u00ad\u00adhove-Kalergi","event_location_link":"https:\/\/www.uni.lu\/en\/about\/campuses\/kirchberg-campus\/","event_zip_code":"1359","event_city":"Luxembourg","event_country":"Luxembourg"},"events-topic":[301],"events-type":[323,322,315],"organisation":[116,101],"authorship":[85],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Predicting Unobserved Individual-level Causal Effects - FDEF I Uni.lu<\/title>\n<meta name=\"description\" content=\"With the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg. A hedging\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-yuri-tserlukevich-arizona-state-university\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DF Lunch Seminar with Yuri Tserlukevich (Arizona State 8xav福利导航)\" \/>\n<meta property=\"og:description\" content=\"With the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg. A hedging\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-yuri-tserlukevich-arizona-state-university\/\" \/>\n<meta property=\"og:site_name\" content=\"FDEF EN\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/uni.FDEF.lu\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-28T13:25:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1078711575-scaled.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1928\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-yuri-tserlukevich-arizona-state-university\/\",\"url\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-yuri-tserlukevich-arizona-state-university\/\",\"name\":\"Predicting Unobserved Individual-level Causal Effects - FDEF I Uni.lu\",\"isPartOf\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-yuri-tserlukevich-arizona-state-university\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.uni.lu\/fdef-en\/events\/df-lunch-seminar-with-yuri-tserlukevich-arizona-state-university\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.uni.lu\/wp-content\/uploads\/sites\/3\/2025\/04\/AdobeStock_1078711575-scaled.jpeg\",\"datePublished\":\"2025-04-28T13:24:54+00:00\",\"dateModified\":\"2025-04-28T13:25:11+00:00\",\"description\":\"With the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg. 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