Dear colleagues,

 

The Department of Economics cordially invites you to the WU Economic Research Seminar (Department Seminar) on Wednesday, April 10, with

 

Christoph Moser

(Friedrich-Alexander-University Erlangen-Nürnberg)

 

on

"The European Commission and the Revolving Door"

 

Abstract: Decisions of the EU Commission have important consequences for the corporate sector. Thus, the fact that scores of ex-Commissioners go through the revolving door to work for companies raises concerns. Many suspect companies to profit from privileged access to information and key-decision makers. We assess if companies indeed profit from hiring ex-Commissioners. Based on a unique dataset of all Commissioners that served in the Commissions of Jacques Delors I to Jose Manuel Barroso II spanning over 27 years, we look at stock market responses to announcements of such hirings. We find positive abnormal returns, which suggests that investors expect companies to benefit. The reactions are larger for ex-Commissioners who held an important portfolio.

 

Time and place: Wednesday, April 10, 4.30 – 6.00 p.m., Campus WU, Welthandelsplatz 1, 1020 Vienna, building D4, entrance A, 2nd floor, Department meeting room 2.008.

 

 

With best regards,

Harald Oberhofer

 

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Univ.-Prof. Dr. Harald Oberhofer

 

Institute for International Economics

WU Vienna University of Economics and Business

Phone: +43/1/31336-4984

Fax: +43/1/31336-4984

Email: harald.oberhofer@wu.ac.at

Webpage: https://www.wu.ac.at/ie/mitarbeiter/harald-oberhofer/

 

Austrian Institute of Economic Research (WIFO)

Phone: +43/1/7982601-468

Fax: +43/1/7989386

Email: harald.oberhofer@wifo.ac.at

Webpage: http://www.wifo.ac.at/harald_oberhofer