Focused on the challenges of finding sustainable finance solutions and assessing their impact on society, TSE launched the Sustainable Finance Center in 2018 to promote innovative research on emerging issues in economics and finance. Created with the help of industrial and institutional partners, the Center facilitates a productive dialogue between researchers and industrial partners and policy makers.
The center counts over 40 scholars working in finance, macroeconomics, environmental economics, psychology, and public economics and industrial partners to spur innovative research and disseminate cutting-edge research findings on today’s major societal challenges around sustainable finance to firms, policymakers and the wider public.
- Development of new knowledge resulting in academic publications
- Organization of scientific conferences and seminars
Dissemination of economic knowledge:
- Production of outreach materials and the organization of events meant to inform practitioners, policy makers or a wider audience
- Participation of researchers in the public debate in France and internationally
Responsible Finance & Long-term Investments
- Objectives: Our researchers analyze if we invest enough in long-term assets, evaluating immediate benefits compared to distant ones. We measure and evaluate the externalities imposed by firms on society to identify incentives for economic agents to incorporate these externalities in their decisions. This research is crucial to address contemporary concerns about climate change, nuclear risk, education and training, customer safety, and the welfare of employees and communities.
- Program leader: Catherine Casamatta works on corporate finance theory, venture capital, investment fund management and managerial compensation.
Financial Technologies & Digital Markets
- Objective: This program investigates the implications of key features of FinTech and cryptocurrencies, and their impact on social welfare. We study the design of markets, institutions and regulations to mitigate coordination problems, information asymmetries and other market failures.
- Program leader: Christophe Bisière works on market microstructure, empirical finance, experimental finance, blockchains, cryptomoney and FinTech.
Financial Intermediaries & Regulation
- Objective: To deepen our understanding of financial intermediation and the prevention of crises, we investigate various topics related to monetary economics and aggregate liquidity, payment systems, prudential regulation, market finance and microstructure.
- Program leader: Patrick Fève works on macroeconomics, international economics and applied econometrics.
Financial Behaviors, Welfare & Markets (in)Efficiencies
- Objective: Researchers in this program strive to understand the capacity of financial markets and intermediaries to price assets, finance the economy and allocate risks which may be hindered by informational frictions and human cognitive biases. We identify the impacts of those frictions on investors welfare and the efficiency of the financial industry, studying whether their effects are worsened or mitigated by different market arrangements.
- Program leader: Milo Bianchi works on household finance, behavioral finance and corporate finance.