***M.Sc. Students, this event can count towards one of the six mandatory Research Seminars Series needed to attend (MHS6991 or MGT6991).***
Ankit Kalda, PhD
We examine the extent of external labor market consequences of misconduct and under-performance in finance. Using detailed administrative data on individual job separations and income trends, we document that finance employees fired for misconduct experience 24.5% lower income declines and find jobs quicker than those laid-off for no fault of their own (i.e., no fault layoffs). In sharp contrast, non-finance employees fired for misconduct experience 20.4% higher income declines than their no fault counterparts. These patterns are significantly less stark for underperformance firings. High finance earners experience even lower income declines for misconduct but higher declines for performance vis-a-vis no fault employees.
About the Speaker
Ankit Kalda is an Assistant Professor of Finance and Rifkin Faculty Fellow at Kelley School of Business at Indiana University. His primary research interests include household finance and behavioral finance. His research addresses questions related to the determinants and consequences of household debt with a special focus on the interaction between household debt and labor markets, and the impact of technology on different household decisions. His work has been published in top journals and has received attention from both media and policy makers including being cited in policy reports by the Congressional Budget Office. He received his PhD in Finance from Washington University in St Louis in 2019. Before joining the PhD program, Ankit completed his Bachelors and Masters in Economics from Indian Institute of Technology (IIT), Kharagpur.
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