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Evren ORS

Associate Professor


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Evren Örs is an Associate Professor in the Finance Department of HEC Paris. He has obtained his Ph.D. from Boston College in 1999. His main research areas are financial institutions and corporate finance. His current research projects include the impact of banking deregulation on trade, the effects of banking integration on industry growth and M&A activity, the impact of regulation on key employee compensation. He has papers accepted in the Journal of Finance, Journal of Financial Economics, Journal of Money Credit and Banking, Journal of Banking and Finance, Journal of Corporate Finance, among other publications. Since September 2015 Evren is the HEC Paris Finance Department's Coordinator. Since December 2015 he is the Academic Director of the HEC Paris Executive Master in Finance. He teaches introductory finance classes at the master's and executive master's levels.

Scientific articles

Hedging Corporate Bond Portfolios across the Business Cycle

Journal of Fixed Income, March 1996, vol. 5, pp 56-60, (in coll. with A. Marcus)


Working papers

Scientific articles

The Competitive Dynamics of Geographic Deregulation in Banking: Implications for Productive Efficiency

Journal of Money, Credit and Banking, August 2008, vol. 40, n° 5, pp 897-928, (in coll. with D. Evanoff)

Margin Regulation and Market Quality: A Microstructure Analysis

Journal of Corporate Finance, September 2004, vol. 10, n° 4, pp 549-574, (in coll. with G. Alexander, M. Peterson, P. Jo. Seguin)

Post Mortem on Federal Reserve's Functional Cost Analysis Program: How Useful Was the FCA?

Review of Financial Economics, 2004, vol. 13, n° 1-2, pp 121-148,

The predictive power of implied volatility: Evidence from 35 futures markets

Journal of Banking and Finance, November 2003, vol. 11, n° 27, pp 2151-2176, (in coll. with A. Szakmary, J. Kim, W. Davidson III)


Working papers

Bank Imputed Interest Rates: Unbiased Estimates of Offered Rates?

FRB of Chicago Working Paper , 2006

Advertising and Pricing at Multiple Output Firms: Evidence from U.S. Thrift Institutions

FRB of Chicago Working Paper , 2004

Definitional and Statistical Differences in Imputed and Offered Deposit Rates

Mimeo , 2019

The Role of Advertising in Commercial Banking

Mimeo , 2019


  • Ph.D. in Finance, Carroll School of Management - Boston College - USA
  • M.S. in Finance, Carroll School of Management - Boston College - USA
  • Master of Business Administration, Middle East Technical University (M.E.T.U.) - Turkey
  • B.S. in Mechanical Eng., Middle East Technical University (M.E.T.U.) - Turkey

Academic appointments

Academic responsabilities at HEC

  • 2015-2017 Department Head, Finance HEC Paris
  • 2015- Academic Director, Executive Master in Finance HEC Paris
  • 2011-2012 Scientific Co-Director of Executive Master Gestion Financière HEC Paris
  • 2011-2012 Scientific Co-Director of CESA Finance HEC Paris
  • 2011-2012 EMBA Course Leader for Financial Markets HEC Paris
  • 2009- Associate Professor HEC Paris
  • 2003-2008 Assistant Professor HEC Paris
  • 2004- Member of GREGHEC (CNRS) HEC Paris

External Academic Responsabilities

  • 1999-2003 Assistant Professor, Dept. of Finance SIUC
  • 1998-1999 Instructor, Dept. of Finance Southern Illinois University-Carbondale (SIUC).

Scientific Activities

Membership in Academic or Professional Organisation

  • Research Affiliate, Centre for Economic Policy Research (CEPR)
  • Member, French Finance Association (AFFI)
  • Member, European Finance Association
  • Member, American Finance Association

Editorial activities

  • Ad hoc referee for the Journal of Finance, Review of Financial Studies, Review of Finance, Journal of Money Credit and Banking, Journal of Financial Intermediation, Journal of Banking Finance, Journal of Financial Services Research, among others.
  • Associate Editor, Journal of Money, Credit and Banking

  • Conference organisation

  • 2011-2011 Co-organizer, Conference on Financial Intermediation and The Real Economy, NYSE/Euronext Paris
  • 2009- Co-organizer, "6th HEC - INSEAD - PSE 2009 Workshop on Economics & Finance"
  • Member, Conference Program Committees: FMA 2001 and 2002 Annual Meeting ; Southern Finance Association 2000 Meeting