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Faculty Directory
Antoine HYAFIL
Emeritus Professor
Finance
- Email: hyafilSPAMFILTER@hec.fr
- Website: http://www.hec.fr/hyafil
Antoine Hyafil holds Masters degrees in Political Science (1968) from University of Paris and in Business Administration from INSEAD, Fontainebleau (1972) and a Joint Doctorate in Business Administration (1979) with Distinction from University of Orléans (France) and HEC Paris. He has been the DELOITTE Professor of Finance & Energy at HEC Paris. He has been Dean of the Faculty at HEC Paris, France leading Ivy League Business School, and according to a recent Financial Times composite ranking, Europe's n°1 Business School. He was elected to this position twice: from 1984 to 1989 and more recently, from 2003 to 2007. During his last mandate, he has led a vigorous overhauling effort, recruiting more than 35 new faculty members over a 4 year period, streamlining the rules for financial incentives, promotion and tenure, and putting a major emphasis on publication in top international journals.
He has been on the Visiting Faculty at the Sloan School, MIT and INSEAD in Singapore. He has taught executives throughout the world in Brazil, Bahrein, Lebanon, Lithuania, India, Japan, Poland ,Russia and the United States. He was involved in the successful launch of HEC's Executive MBA in Beijing, in 2006.
He teaches both intermediate and advanced corporate finance courses, focusing upon topics such as value creation, sustainable growth, valuation methodologies, mergers and acquisitions, financial restructuring, project financing and financial policy. More recently, he has been commissioned to develop a portfolio of courses linking financial issues and strategic issues in the field of energy, within the context of climate change economics.
Antoine Hyafil has been an officer of The First National Bank of Chicago and an Academic in Residence with Merrill Lynch Investment Banking Department.
Scientific Articles
"La crise économique et financière : conséquences sur les grands équilibres et les prix de l'énergie", Géoéconomie, Fall 2009, n° 51, pp. 103-117.
"A Case Study in Securization: Value Creation in the Chargeurs Wool December 1998 Issue", The Securitization Conduit, 1999, vol. 2, n° 4.
"Structure financière : des théories distinctes, des choix qui convergent", Revue Française de Gestion, November-December 1995, n° 106, pp. 55-64.
"Décisions stratégiques et valeur de la firme", Revue Française de Gestion, January-February 1991, n° 82, pp. 45-57.
"Le taux de change à terme, prédicteur du taux de change futur", Vie et Sciences Economiques, July 1978 (in coll. with B. SOLNIK).
Chapters in Edited Books
"Changement climatique : la responsabilité des acteurs", in L'art du management - Leadership, performance, développement durable, B. Ramanantsoa (Ed.), 2008, Partie 3 - chap. 1.
"Croissance rentable, croissance soutenable et levier financier", in L'Art du Management 3, HEC Paris, Dunod, Paris, 2005, 330-334.
"Systèmes financiers et systèmes de gouvernance", in Encyclopédie des marchés financiers, Y. Simon (Ed.), Economica, 1997, 1876-1896.
"Critique de la transversalité : à propos de la finance", in L'école des managers de demain, ouvrage collectif des professeurs du Groupe HEC, Economica, 1994.
Employment Date: 1979
Main courses taught at HEC
International Company Management
Financial Management
Education
1979 Doctorat de 3è cycle en monnaie et finance (Ph.D.), Université d'Orléans, France.
1977 DEA de finances (Postgraduate Diploma in Finance), Université Paris Dauphine, France.
1972 MBA, INSEAD, France.
1968 Diplôme de l'Institut d'Etudes Politiques de Paris, Institut d'Etudes Politiques de Paris (Sciences Po), France.
Languages
English
German
Spanish
Academic Appointments
Academic responsibilities at HEC
2012- Emeritus Professor, Finance.
2012-2012 Professor, Finance.
2003-2007 Dean of Faculty and Research.
1999-2003 Head, Finance and Economics Department.
1984-1989 Dean of Faculty and Research.
1979-2012 Associated Professor, Finance.
Scientific activities
Membership in Academic or Professional Organisation
Member, Association Française de Finance.
Member, American Finance Association.
Member, European Finance Association.
Editorial activities
Editor of "Art of Management" series, Les Echos, October-November 2004.
Editor of "Art of Management", Dunod 2005.
Editor of "Art of Management" series, Les Echos, October-November 2005.
Conference organisation
Membre du Scientific Committee, International Financial Research Forum, 27-28 mars 2008, Paris.
Agency Theory
Transaction Cost Theory
Contract Theory
Applications to Finance and Corporate Planning
Finance et économie de l'énergie
Faculty News
Academic Events
Research Seminars
Contacts
The Dean of Faculty's office
HEC Paris
1, rue de la Libération
78351 Jouy-en-Josas cedex
France
Events : facultyevents@hec.fr
Budgets : facultybudget@hec.fr
Research : facultynfo@hec.fr