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SUMMARY:Centre for a Responsible Wealth Transition Seminar - Harshit Rajaiya
DTSTAMP;TZID=America/Toronto:20261026T120000
DTSTART;TZID=America/Toronto:20261026T120000
DTEND;TZID=America/Toronto:20261026T130000
X-ALT-DESC;FMTTYPE=text/html:HARSHIT RAJAIYA\, PHD\n\nWe analyze how the ESG performance of private firms (proxied by their\nRepRisk Ratings and negative ESG incidents) affect their subsequent\nperformance. We also analyze how customers\, employees and potential\ninvestors (venture capitalists\, IPO market investors and acquirers)\nview private firms’ ESG performance. Using RepRisk data combined\nwith information from the NETS\, VentureXpert\, and SDC Platinum\ndatabases\, we find that entrepreneurial firms experiencing more\nnegative ESG incidents or lower RepRisk Ratings exhibit lower future\nsales and employment growth\, reduced future venture capital financing\,\nand a lower likelihood of successful future exit through IPOs or\nacquisitions. To address endogeneity concerns\, we exploit firms’\nfirst ESG incidents as plausibly exogenous shocks in a stacked\ndifference-in-differences design\, providing causal evidence consistent\nwith our baseline findings. Using LinkedIn and Nielsen Retail Scanner\ndata\, we further show that more negative ESG incidents and lower\nRepRisk ratings are associated with lower net inflows of more\nexperienced and higher quality employees and lower product prices. Our\nresults are consistent with customers\, employees\, and investors in\nentrepreneurial firms caring about their ESG performance.\n\nABOUT THE SPEAKER\n\nHarshit Rajaiya is an Assistant Professor of Finance at the Telfer\nSchool of Management\, University of Ottawa. He received his PhD in\nFinance from the Carroll School of Management at the Boston College.\nHe did his masters from the[Harshit Rajaiya] Indian Institute of\nManagement\, Calcutta and his bachelors in mechanical engineering from\nthe Indian Institute of Technology\, Kharagpur.\n\nProfessor Rajaiya’s research mainly focuses on entrepreneurial\nfinance\, venture capital financing and investment strategies\, role of\nintellectual properties in external financing of private and public\nfirms\, FinTech\, and the importance of online reviews on corporate\nfinancial policies of firms. His recent project use big data on\nemployee ratings and the impact of employee ratings on corporate\nfinancial policies of firms. His research has been presented at many\nconferences like European Finance Association\, Midwest Finance\nAssociation\, Financial Management Association\, and other.
LOCATION:DMS 7170
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