Econ PhD student @Ghent University. Working with firm-level data on corporate finance without the self-serving blinds. => Corporate financialization, inequality and climate, but Interested in macro in general. Blogging at https://bakoumertens.quarto.pubhttps://bsky.app/profile/bakoumertens.bsky.socialhttps://bsky.app/profile/bakoumertens.bsky.social/post/3lgpjakwhak2aMy first paper has a volume number!! crux: "heads, shareholders win, tails, society loses" shareholders do not share in the costs of negative profit shocks. This ratchets up payout ratio persistently over the ensuing years. 1/n [contains quote post or other embedded content]27 Jan 2025 08:24 +0000at://did:plc:t4x22wsubpxmpkdmunuinh65/app.bsky.feed.post/3lgpjakwhak2ahttps://bsky.app/profile/bakoumertens.bsky.social/post/3lfevxxn6uk2wIn this little piece, I ask a little provocatively whether t shareholder is more akin to a knightly investor, lazy rentier or bloodsucking parasite. 3 key questions: 1) Aren't we all shareholders? 2) Do shareholders invest in our economy? 3) Is the stock market a source or a drain of funds? [contains quote post or other embedded content]10 Jan 2025 09:47 +0000at://did:plc:t4x22wsubpxmpkdmunuinh65/app.bsky.feed.post/3lfevxxn6uk2whttps://bsky.app/profile/bakoumertens.bsky.social/post/3l5jcaa6of72mMy first paper is out in Socio-Economic Review! https://doi.org/10.1093/ser/mwae059 Using firm-level data on all stock listed firms in the world I show that it is not the growth of shareholder remunerations that causes rising payout ratios, but precisely their inability to fall, their downward rigidity.02 Oct 2024 08:18 +0000at://did:plc:t4x22wsubpxmpkdmunuinh65/app.bsky.feed.post/3l5jcaa6of72m