ESCP Center for Finance (ECF)
Mission and ambition of the Research Centre
The ESCP Center for Finance (ECF) is committed to advancing knowledge on how investors, firms, and financial intermediaries—such as banks, mutual funds, and other financial institutions—interact to drive wealth creation and promote sustainable economic growth.
By delivering actionable insights, ECF supports policymakers, businesses, and investors in fostering a financial system that is more efficient, sustainable, and resilient, contributing to long-term economic stability and sustainable wealth generation.
ECF’s research is organized into four key streams:
- Risks, Returns, and Financial Market Dynamics
- Financial Institutions and Their Role in the Market Economy
- Enhancing Firm Value through Corporate Finance and Governance
- Sustainability, Climate, and Financial Markets
Leadership Section
Director
Konark Saxena
Director ESCP Center for Finance (ECF)
Konark Saxena is an Associate Professor at ESCP Business School. Konark’s research focuses on various aspects of investing, including portfolio choice, asset pricing, sustainable finance, the asset management industry, and the effects of interest rates and monetary policy on financial decision-making. His work has been published in top-tier finance journals such as The Review of Financial Studies, Journal of Financial Economics, and Journal of Financial and Quantitative Analysis.
Permanent Faculty
Abalfazl Zareei
Associate Professor
Finance
azareei@escp.eu
Alberta Di Giuli
Professor
Finance
adigiuli@escp.eu
Axel Buchner
Professor
Finance
abuchner@escp.eu
Cecile Kharoubi
Professor
Finance
ckharoubi@escp.eu
Christian Mücke
Assistant Professor
Finance
cmucke@escp.eu
Christophe Moussu
Professor
Finance
moussu@escp.eu
Christophe Thibierge
Associate Professor
Finance
thibierge@escp.eu
Francesco Mazzola
Assistant Professor
Finance
fmazzola@escp.eu
Franck Bancel
Professor
Finance
bancel@escp.eu
Houdou Basse Mama
Professor
Finance
hbassemama@escp.eu
Julien Fouquau
Professor
Finance
jfouquau@escp.eu
Lei Zhao
Associate Professor
Finance
lzhao@escp.eu
Michael Axenrod
Assistant Professor
Finance
maxenrod@escp.eu
Michael Troege
Professor
Finance
troege@escp.eu
Nabil Kahale
Associate Professor
Finance
nkahale@escp.eu
Panagiotis Dontis Charitos
Associate Professor
Finance
pdontischaritos@escp.eu
Paul Karehnke
Professor
Finance
pkarehnke@escp.eu
Philippe Thomas
Associate Professor
Finance
pthomas@escp.eu
Pramuan Bunkanwanicha
Professor
Finance
pbunkanwanicha@escp.eu
Santiago Barraza
Associate Professor
Finance
sbarraza@escp.eu
Silvia Dalla Fontana
Assistant Professor
Finance
sdallafontana@escp.eu
Soon Leong
Assistant Professor
Finance
sleong@escp.eu
Tamara Nefedova
Associate Professor
Finance
tnefedova@escp.eu
Thomas David
Associate Professor
Finance
tdavid@escp.eu
Tina Oreski
Assistant Professor
Finance
toreski@escp.eu
Ulrich Pape
Professor
Finance
upape@escp.eu
Researchers (PhDs and PostDocs)
- David Germain
- Taline Harissi, Paris
- Khalil-Etienne Janbek, Paris
- Luigi Lannutti
- Rémi Montagu, Paris
- Mikhail Polikarpov, Paris
- Yuwen Qiu, Paris
- Kristine Sahakyan, Paris
- Thi Thuy Trang Truong, Paris
- Newsha Zahabi, Paris
- Hulai Zhang, Paris
Research Activities
The Risks, Returns, and Financial Market Dynamics stream investigates the mechanisms underpinning asset pricing, portfolio optimization, and financial market behavior. Leveraging theoretical models, advanced financial econometrics, and data science methods—such as machine learning—this research examines risk premia, momentum, sovereign risk, and derivative pricing, offering insights into investment strategies, asset pricing, and market efficiency.
The Financial Institutions and Their Role in the Market Economy stream examines the impact of financial intermediaries—including banks, mutual funds, and fintech—on economic outcomes. This research explores topics such as bank bailouts, open banking, credit markets, and monetary policy transmission, providing insights into the systemic importance of financial institutions and their regulatory implications.
The Enhancing Firm Value through Corporate Finance and Governance stream explores ownership structures, governance practices, and financing decisions—including private equity, venture capital, and family dynamics—and their impact on firm performance and value creation.
The Sustainability, Climate, and Financial Markets stream investigates the intersection of finance and environmental responsibility, examining how climate agreements, corporate sustainability initiatives, and investor preferences shape financial markets, firm strategies, and the broader transition to a sustainable economy.
2023
2022
2021
2021
2020
2020
2019
2018
2017
2017
2017
2024
2023
2020
2020
2020
2019
2024
2022
2013
2009
forthcoming
2024
2014
Our Contributions to Debates
ESCP Impact Papers
Other Intellectual Contributions
La Tribune
L’Express
DAF Magazine
Toronto Star
Bloomberg Tax Insight
Press
Our Events
Conferences
Annual Hedge Fund Research Conference
Organized by Tamara Nefedova with Serge Darolles (Paris Dauphine University)
2025
2024
2023
2022
2020
2019
2018
FMA Europe 2024, Turin
Chairs: Alberta Di Giuli and Santiago Barraza (with ikas Agarwal)
2025
NYU-LawFin/SAFE-ESCP BS Law & Banking/Finance Conference
Organized by Christophe Moussu and Michael Troege (with Ryan Bubb, Tobias Tröger)
Jointly organized by New York University, ESCP Business School, the Leibniz Institute for Financial Research SAFE and the Center for Advanced Studies on the Foundations of Law and Finance.
2024
2023
2022
2021
Workshops
The Long-Run Drivers of Asset Prices: Beliefs, Preferences, and Risk
Organized by Paul Karehnke (with Gunther Capelle-Blancard)
Competition Policy in Direct Financial Markets
Organized by Michael Troege (with Constance Monnier)
