BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//132.216.98.100//NONSGML kigkonsult.se iCalcreator 2.20.4//
BEGIN:VEVENT
UID:20251114T021254EST-4697T49o6C@132.216.98.100
DTSTAMP:20251114T071254Z
DESCRIPTION:Torben Andersen\n\nNorthwestern University\n\nThe Granular Orig
 in of Tail Dispersion Risk\n\nDate: Friday\, November 7\, 2025\n	Time: 10:3
 0-11:45 am\n	Location: Bronfman Bldg. (1001 Sherbrooke St. West)\, Room 245
 \n\nAll are cordially invited to attend.\n\nAbstract:\n\nWe study the asse
 t pricing implications of temporal shifts in the investment opportunities 
 set characterized by changes in the shape of the tails of the cross-sectio
 nal return distribution. The risk associated with this form of tail shape 
 shift depends on its origin\, namely whether or not the returns are expose
 d to a systematic event: in the former case it stems from tail risk in the
  assets’ exposure to systematic risk\, while in the latter case it arises 
 from idiosyncratic jump tail risk in the individual asset returns themselv
 es. We show empirically that shocks to the cross-sectional tail shape are 
 a source of priced risk: fat idiosyncratic tails are favored by investors\
 , while fat-tailed exposures to systematic jumps are disliked.\n
DTSTART:20251107T153000Z
DTEND:20251107T164500Z
LOCATION:Room 245\, Bronfman Building\, CA\, QC\, Montreal\, H3A 1G5\, 1001
  rue Sherbrooke Ouest
SUMMARY:Desmarais Global Finance Research Centre (DGFRC) Seminar: Torben An
 dersen  
URL:/desautels/channels/event/desmarais-global-finance
 -research-centre-dgfrc-seminar-torben-andersen-368701
END:VEVENT
END:VCALENDAR