Giovanna Nicodano’s webinar for Inquire Europe

May 25, 2021

Prof. Giovanna Nicodano, University of Turin and CeRP-Collegio Carlo Alberto, delivered the Inquire Europe webinar: “The income hedging motive of stock market participation” on May 25.

Abstract. Participation in financial markets has sharply increased in the past year, partially as a result of extraordinary circumstances brought on by the pandemic. However, the pandemic has also caused Permanent Income (PI) shocks for millions of people, which according to life-cycle theory, is a key determinant of equity market participation. Giovanna Nicodano will explore this further as she presents her research, ‘The Income-hedging motive of stock market participation’. In doing so, she will reconstruct the life-cycle dynamics of PI shocks for households, thereby estimating correlations between PI shocks and stock returns.

The Institute for Quantitative Research in Europe (Inquire Europe, is a professional organization that brings together investment professionals interested in the development of quantitative solutions to financial and investment problems.

In case you missed it you can rewatch the webinar here.

Ore read a summary of the webinar