Skip Ribbon Commands
Skip to main content

Events Details


​Finance, Talent Allocation, and Growth

Date/Time: 28-Nov-2017 1030hrs - 1200hrs
Venue: Executive Seminar Room 5 (S3.1-B1-07)
Contact Information:


Using data covering 24 countries over 35 years, we show that the growth of the relative wage in the financial sector is related to a modest reallocation of skilled workers from non-finance sectors into finance. Reallocation is higher when the finance relative wage grows faster than the contribution of the financial sector to the overall economy. The reallocation of skilled workers to finance is higher from sectors that are more innovative, and from sectors in which the costs workers face to move to finance are lower. Yet, we detect no significant relationship between the growth of the finance relative wage and the subsequent growth of non-finance sectors or country-level growth. We also find no association between the growth of the finance relative wage and patent applications for the productivity of scientific research at the country level. Overall, the reallocation of skilled labor away from non-finance sectors rising wages in finance induce appears to be too modest to materially affect economic growth.
About the speaker

Laurent Frésard is an Associate Professor of Finance at the Robert H. Smith School of Business at the University of Maryland. His research interests are mainly in empirical corporate finance, with a focus on the interactions between product market competition and corporate policies, and the determinants and consequences of international cross-listings. His work has recently been published in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, and Review of Finance. Professor Frésard’s teaching interests include corporate finance, and valuation. Prior to joining the University of Maryland, Professor Frésard was on the faculty at HEC Paris.
Venue Website:
For registration, further information and enquiries, please contact Florence at or telephone: 67906354.
Nanyang Business School, Nanyang Technological University, Block S3, 50 Nanyang Avenue, Singapore 639798

Published on: 21-Nov-2017

Current Event Calendar Listings

Not sure which programme to go for? Use our programme finder
Loading header/footer ...