At the end of this year, marked by crucial elections in France and around the world, I would like to draw on recent research to shed light on the overlooked links between finance and politics. It has become a widely accepted idea that rising political polarization causes people with differing affiliations to view the world through distinct lenses and even to believe in different facts. Recent research shows that the financial industry is not immune to partisan biases; finance professionals, too, carry their political identities into their work. Let me take you on a tour of this research!
In this interview, Karen Degouve (H.94) explains her pivotal role in coordinating sustainable finance efforts within French banking groups, which face challenges in developing profitable yet planet-conscious businesses. Degouve offers valuable guidance for graduates entering the business world and investors seeking to align their financial decisions with sustainability goals. She also took the time to share her opinion on research findings on ESG and impact investment conducted by the HEC Paris faculty.
For a long time, addressing sustainability problems has been regarded as a technological challenge. Today, supporting the transition to a more sustainable world has transcended this technological status and emerged as a quintessential management, economic, and behavioral challenge. Within this realm, research in social sciences and management assumes a pivotal role, offering insights across various crucial dimensions of the transition.
HEC Paris undergoes a transformative shift in its curriculum. Building on its legacy of sustainability initiatives, the institution now prioritizes planetary boundaries and societal impact. The updated curriculum emphasizes sustainability integration and student empowerment for real-world impact. This reflects HEC's dedication to nurturing leaders prepared to address modern challenges.
At HEC Paris, the integration of research, teaching, and action is a fundamental philosophy that we embody. In today's dynamic landscape, where environmental and social challenges are increasingly prominent, HEC serves as a beacon of innovation and responsibility. As Europe's leading business school, we acknowledge our responsibility to guide future leaders in navigating the complexities of a world in flux.
The Mazars “Purposeful Governance” Chair is the new chair of the S&O Institute’s Purpose Center. Thanks to the engagement of researchers and professionals, Mazars, an international leader in consulting and audit, aims to redefine legal, strategic, financial, accounting, and governance decisions to face ecological and social challenges. Luc Paugam, Associate Professor in Accounting and Management Control, holds the chair and collaborates with Mazars to advance transformative business models. We interviewed Luc Paugam and Maximilien Rouer, Partner Sustainability leader at Mazars, to gain insight into their joint projects and collaborative efforts.
Founder and director of the financial-analysis and short-selling firm Iceberg Research, HEC alumni Arnaud Vagner (H.01) is known for having exposed fraudulent accounting at his former employer, commodities trader Noble Group. Iceberg Research is, like all activist short-sellers, an investigative firm that exposes listed companies that have fraudulent or misleading representations. It is also a traditional long/short fund. Short-selling activists are rare critical voices in capital markets.
How does a city suffering from dereliction and decay transform into a flourishing metropolis within a mere century? A new paper by Alyssa Rusonik, PhD student at the Finance department of HEC Paris, investigates one of the greatest economic mysteries of the Renaissance. Although only in the second year of her PhD, Alyssa has received an award for the best article from a doctoral student at the annual conference of the Canadian Network for Economic History. She explains her investigations in this interview for Knowledge@HEC.
HEC Paris Associate Professor Guillaume Vuillemey explores the ways the maritime shipping industry has evolved in the past 40 years to systematically evade its corporate responsibilities. In his groundbreaking research he reveals how this industry – which handles over 80% of global trade flows – uses flags of convenience and limited liability to flout international and moral law. This has repercussions on the environment and basic human rights. In a 30 minutes interview, Vuillemey outlines his approach of this industry and its links to what some are calling the “dark side of globalization”. Extracts.
“Is crypto about to go extinct?” The question posed by numerous media in January followed a number of major crypto companies collapsing in 2022. Global media concerns came to a climax in November with the FTX imploding and its founder Sam Bankman-Fried placed under arrest. To better gauge the stakes behind this crypto-crisis, HEC Paris Professor Bruno Biais held a Masterclass on January 19. It retraced the Bitcoin’s history, from its inception by Satoshi Nakamoto in 2008 to current calls for regulation. Here are five of the key takeaways.
