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PRODID:-//Memento EPFL//
BEGIN:VEVENT
SUMMARY:Modeling Managers As EPS Maximizers
DTSTART:20231002T120000
DTEND:20231002T130000
DTSTAMP:20260408T092635Z
UID:9b1043625bfe76964917fa8b0236b98496e5d44b606c77814469d2fd
CATEGORIES:Conferences - Seminars
DESCRIPTION:Itzhak (Zahi) Ben-David\, Ohio State University\nTextbook theo
 ry assumes that firm managers maximize the net present value of future cas
 h flows. But when you ask them\, the people running large public corporati
 ons say that they are maximizing something else entirely: earnings per sha
 re (EPS). Perhaps this is a mistake. No matter. We take managers at their 
 word and show that EPS maximization provides a single unified explanation 
 for a wide range of corporate policies such as leverage\, share issuance a
 nd repurchases\, M&A payment method\, cash accumulation\, and capital budg
 eting.
LOCATION:UniL Campus\, Room Extra 126
STATUS:CONFIRMED
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