HEC Paris Trains Future Professors
Our PhD Students Got Talent
This special issue aims to show the excellence and diversity of the research conducted by HEC Paris PhD candidates and alumni. You will find a selection of cutting-edge findings, answering crucial questions such as: Is AI a threat to human creativity? Should we listen to the Wall Street gurus? How to better manage one’s promotion? How much do we value our private data? What are ambiguity and risk attitudes? How bad is the mere presence of a phone? HEC Paris PhD Program, headed by finance professor Johan Hombert, supports its students throughout their thesis writing and job placement in the best universities and business schools, such as the MIT, Wharton and Harvard Business School. Most PhD alumni continue to collaborate with professors at HEC, thanks to the strong relationships they have developed during their journey.
Economic Perspectives for Germany after September’s Federal Vote
The September 26 federal elections in Germany have been earmarked as one of its most important in the past two decades. For a start, it signals the end of Angela Merkel’s tenure as Chancellor, after 16 years at the helm of Europe’s largest economy. To comment on this landmark vote, its uncertain outcome, and economic outlook, we turn to Armin Steinbach, HEC professor in law and economics. Steinbach is ideally placed to comment: prior to his September arrival at our business school, he spent over a decade as a government official and adviser in the Ministries of Finance and of Economic Affairs and Germany’s Parliament.
Why Student Debt Relief May Fall Short of Its Good Intentions
As the U.S. staggers beneath the weight of its education debt – a crushing $1.6 trillion in 2020 – there are increasing calls for loan forgiveness. But debt forgiveness plans need to be crafted carefully or they might actually disproportionately favor high-income individuals or specific ethnic groups. A duo of Finance researchers, Sylvain Catherine of Wharton School and Constantine Yannelis of Chicago Booth School of Business, explains how to tailor such policies to better redistribute their benefits. Sylvain Catherine is a HEC Paris PhD alumnus.
Jean-Noël Barrot: Building Bridges between Research and Politics
Jean-Noël Barrot is an associate professor at HEC Paris and member of parliament for Yvelines in France’s National Assembly, combining his political work with his research in finance. On June 29, he submitted a report to the government in which he detailed proposals to help France recover from the COVID-19 pandemic. In this interview, Jean-Noël Barrot explains how he manages to combine his research and his role in parliament in an effective way.
The Economic Impact of Different COVID-19 Lockdown Strategies in France
On March 31, 2021, French President Emmanuel Macron announced a 4-week national lockdown, throwing the country into a similar situation slightly over a year ago. This time though, not all businesses are affected in the same way. On Knowledge@HEC podcast, HEC Paris Associate Professor of Economics Tomasz Michalski analyzes the possible microeconomic impact of the different lockdown strategies, and its eventual long-term effects.
Can Housing Prices Fuel Optimism On The Way Out?
A striking feature of the ongoing COVID-19 crisis is the boom in house prices. Economists are debating on the origins of such a spike. Based on his recent publication coauthored with Boston College Professor Ryan Chahrour, HEC Paris Professor Gaballo explains how housing prices generates waves of optimism and pessimism causing sizeable fluctuations in the business cycle. A spike in housing prices can then effectively fuel the optimism needed to trigger a quick, persistent recovery of the US economy.
Yes, Social Entrepreneurship Training Works. Here Is How
Social entrepreneurship is characterized by a deep commitment to a social cause and the desire to develop new business models with economic, social, and ecological impacts. But can people be trained to become better at social entrepreneurship? HEC Paris Professors Thomas Åstebro and Florian Hoos found that social entrepreneurship training works, but only if carefully designed.
Nobel Prize in Economics: What Impact on Research and Society?
The 2020 Nobel Prize in Economics recognized Paul Milgrom and Robert Wilson of Stanford University for their research on auctions. In this interview, Jean-Edouard Colliard, Associate Professor of Finance at HEC Paris and author of "Les Prix Nobel d’Economie", explains their research, and its role in the economy, society, and the perception of economists.
How Activist Short Sellers Police Financial Markets
New research analyzes how activist short sellers’ “research reports” convince investors that the companies they target are overvalued. Professors Luc Paugam and Hervé Stolowy of HEC Paris and Yves Gendron of the Université Laval found that the share price of companies targeted by major activist short sellers drop by 11.2%, on average, over three days. Target firms are also more likely to be subsequently delisted, suspended from stock exchanges, or to go bankrupt. Who are activist short sellers and how do they police financial markets?