In description
Investing abroad can be a risky business for firms, so many only invest in countries that can safeguard investments through treaties. But some companies do invest in less stable countries without the protection of bilateral treaties. Pierre Dussauge, HEC Professor of Strategy and Business Policy explains how these firms instead use their political influence to get ahead of competitors.
By Pierre Dussauge
To date, at least nine international banks have paid enormous sums to the US as a result of violating US economic sanctions, including the French bank BNP Paribas, which was fined nearly $9 billion in 2014. As the US increasingly employs its punitive arsenal to force non-US banks to comply, this has resulted in their Americanization, argue two HEC professors.
By David Restrepo Amariles , Matteo M Winkler
Denis Gromb is a professor of finance at HEC Paris. In this short video, he answers four questions, explaining his key findings about the consequences of the use of "collateral" on companies and society.
By Denis Gromb
In the face of social, environmental, and financial disruptions, more attention is being paid to corporate social responsibility (CSR) policies, and sustainability benchmarks have multiplied. But does a firm's listing in a CSR index really matter to investors? HEC researchers investigated how important inclusion in the leading global CSR benchmark, the Dow Jones Sustainability Index (DJSI) World, is to investors.
By Rodolphe Durand , Luc Paugam , Hervé Stolowy
As the Single Supervisory Mechanism (SSM), the system of supervision for Euro Area banks centered on the European Central Bank (ECB), is now well into its fifth year of operation, the financial press offers constant reminders of the role of regulation and supervision in shaping the decisions of large multinational banks (MNBs). In particular, recent examples have highlighted their impact on banks’ locational choices, be it in the case of banks relocating some of their operations from London to other European cities in the anticipation of Brexit, or in the case of CommerzBank, which may soon become the target of a European cross-border bank merger.
In our recent research published in the Journal of Financial Economics, we analyze price formation in a context in which dealers repeatedly compete for the opportunity to trade with retail traders. We characterize equilibria in which dealers’ pricing strategies are optimal irrespective of the private information that each dealer may possess. We propose a robust model that predicts how the dealers share information and equilibrate the trade.
“Continuing to do business as usual is no longer an option,” argues Professor Bénédicte Faivre-Tavignot. She explains the push at HEC Paris to develop programs dedicated to sustainability and inclusive business and, just as importantly, to integrate those principles throughout the business school’s mainstream core offerings.
By Bénédicte Faivre-Tavignot
Five years after its launch as a core course, Ethics and Sustainability is now one of the most successful courses in the HEC MBA program. Through a lively combination of debate, discussion, game playing, and surveys, see how this course leads students to question their own beliefs, gain an understanding of other points of view, and become better decision makers in the process.
By Afshin Mehrpouya
Should whistleblowers be compensated or prosecuted? In their latest research, professors from HEC Paris Nicole Stolowy and Luc Paugam, together with Lawyer Aude Londero, shed light on the different realities faced by whistleblowers depending on jurisdictions, in France and in the United-States, through numerous examples.
By Nicole Stolowy , Luc Paugam
Two researchers at HEC Paris, Associate Professor of Marketing Peter Ebbes and CNRS Research Professor Emmanuel Kemel, explain here how they use the web apps R and Shiny*, to visualize results of data analysis, to help students in understanding the formulas used for those analysis, and to help disseminate the research among academics and practitioners.
