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College of Management of Technology Facts & Figures 2016

17.5 faculty members

2nd

1/3

1/3

256

in Europe

Women

personnel paid from 3rd party funds

Total Master graduates

in Social Sciences & Humanities, Leiden Ranking 2016

Organizational chart CDM

College of Management of Technology

Christopher Tucci

MTEI

ITPP

Management of Technology & Entrepreneurship Institute

SFI

Institute of Technology & Public Policy

Swiss Finance Institute at EPFL

Matthias Finger

Damir Filipovic

Ralf Seifert

MTE

MFE

Master Program in Management, Technology & Entrepreneurship

Master Program in Financial Engineering

Marc Gruber

Julien Hugonnier

EDMT

EDFI

Doctoral Program in Management of Technology

Doctoral Program in Finance

Pierre Collin-Dufresne

Dominique Foray

Focal areas Management

Policy

Finance

• • • • • •

• • • • • •

• • • • • •

Optimization Business analytics Entrepreneurial strategies Management of innovation Technology commercialization Operations & Supply chain management

Energy policy Environmental policy Green economy IP policy Technology policy Transport policy

Asset pricing Corporate finance Financial economics Financial engineering Macroeconomics Risk management


Faculty members CHRISTOPHER TUCCI Full Professor Chair of Corporate Strategy & Innovation (CSI)

MTEI MARC GRUBER

Full Professor Chair of Entrepreneurship & Technology Commercialization (ENTC) Key words • Entrepreneurship & corporate entrepreneurship • Opportunity identification • Necessity entrepreneurship

DANIEL KUHN Associate Professor Chair of Risk Analytics & Optimization (RAO) Key words • Decision-making under uncertainty • Stochastic programming & robust optimization • Large-scale data-driven optimization • Uncertainty quantification

RALF SEIFERT Full Professor Chair of Technology & Operations Management (TOM) Key words • Supply chain management • Supply chain finance • Technology adoption

Key words • Crowdsourcing • Creativity & innovation in firms • Design thinking • Social media

THOMAS WEBER Associate Professor Chair of Operations, Economics & Strategy (OES) Key words • Design of incentives & markets • Dynamic optimization • Industrial organization & public policy • Resource allocation under uncertainty

PHILIPPE WIESER Adjunct Professor Chair of Logistics, Economics & Management (LEM) Key words • Supply chain management • Logistics optimization • Demand analysis and risk management • Project management

KENNETH YOUNGE Associate Professor Chair of Technology & Innovation Strategy (TIS) Key words • Technology & innovation strategy • Employee mobility • New venture creation • Data Science

ITPP MATTHIAS FINGER

BRUNO OBERLE

Full Professor Swiss Post Chair in Management of Network Industries (MIR)

Adjunct Professor Chair of Green Economy & Resource Governance (GERG)

Key words • Regulation & regulatory policies • De-regulation, competition & privatization • Network governance • Socio-technical systems

Key words • Green economy • Environmental governance • Sustainability transitions

DOMINIQUE FORAY

Full Professor Chair of Economics & Management of Innovation (CEMI) Key words • Evidence-based policy research • Research & innovation performance • Smart specialization

College of Management of Technology Facts & Figures 2016

GAÉTAN DE RASSENFOSSE

Assistant Professor (Tenure Track) Chair of Innovation & IP Policy (IIPP) Key words • Science, technology & innovation policy • Intellectual property • Econometric & bibliometric analyses

2


Swiss Finance Institute (SFI) at EPFL PIERRE COLLIN-DUFRESNE

Full Professor Professor of Finance

Key words • Credit & liquidity risk • Optimal asset allocation • Pricing & hedging

SEMYON MALAMUD

Associate Professor Professor of Finance

Associate Professor Professor of Finance

Key words • Portfolio selection • Non-linear filtering • Liquidity and asset prices

Key words • Corporate finance & governance • Causes & consequences of the recent financial crisis • Banking regulation

Assistant Professor (Tenure Track) Professor of Finance

RÜDIGER FAHLENBRACH

DAMIR FILIPOVIC

Full Professor Swissquote Chair in Quantitative Finance (CSF) Key words • Quantitative finance • Risk & insurance • Risk-based insurance solvency • Stochastic models in finance & insurance

JULIEN HUGONNIER

Associate Professor Professor of Finance

Key words • Asset pricing theory • Dynamic corporate finance • Decision making under uncertainty

LUISA LAMBERTINI

Full Professor Chair of International Finance (CFI) Key words • Macroeconomics • International finance • Monetary & fiscal policy

College of Management of Technology Facts & Figures 2016

LORIANO MANCINI

Key words • Liquidity • Volatility • Tail risk • High frequency data

ERWAN MORELLEC

Full Professor Professor of Finance

Key words • Real options • Financing & capital structure decisions • Liquidity management • Risk management

ANDERS TROLLE

Assistant Professor (Tenure Track) Professor of Finance Key words • Derivatives • Interbank risk • Credit risk • Liquidity risk

3


CDM in Rankings REGION

FIELD

EPFL RANK

CWTS Leiden Ranking 20161 Europe

Social sciences & humanities

2

World

Social sciences & humanities

17

The UTD Top 100 Business School Research Rankings (2011-2016)2 Switzerland

Top publications in management, OR & Finance

1

Europe

Top publications in management, OR & Finance

14

(1) Selected indicators: impact and PP (top 10%) (2) Ranked by number of articles

Personnel by Category (FTE) TOTAL

% WOMEN

BUDGETARY FUNDS

3RD PARTY FUNDS

17.5

6%

15.5

2.0

Full professors

8.5

12%

6.5

2

Associate professors

6.0

0

6.0

0

Asssistant professors (tenure track)

3.0

0

3.0

0

81.8

32%

43.9

38

2.9

0

1.9

1

Senior scientists / postdocs

22.8

28%

13.8

9

PhD students

56.1

35%

28.2

28

17.65

71%

13.3

4.4

11.7

97%

9.3

2.4

Technical staff

4.0

0

4.0

0

Apprentices

2.0

50%

0.0

2

116.95

34%

72.6

44.4

Professors

Scientific staff Adjunct professors

Administrative & technical staff Administrative staff

Total

College of Management of Technology Facts & Figures 2016

4


Education Master Programs AY 2015/2016

MTE

MFE

Management, Technology & Entrepreneurship

Financial Engineering

Applications

208

185

Admissions

38

53

Enrollments

21

31

Minor Students

208

14

Exchange Students

17

5

MTE Management, Technology & Entrepreneurship female/total: 4/21 (19%)

MFE Financial Engineering

19+81+A 32+68+A 28+57+510A 10+42+366A 38+20+154A 45+13+29103A Gender

female/total: 10/31 (32%)

Nationality

 Switzerland . . . . . . . . . . . 28.6%  Europe without Switzerland . . . 57%  Asia . . . . . . . . . . . . . . . . 4.8%  America . . . . . . . . . . . . . . 9.6%

 General Engineering . . . . . . 38.10%  Computer Science & Communication Science . . . . . . . . . . . . . 19.05%  Civil Engineering & Environmental Sciences . . . . . . . . . . . . . 14.29%  Mechanical Engineering . . . . 14.29%  Microengineering . . . . . . . . 4.76%  Electrical Engineering . . . . . 4.76%

 Switzerland . . . . . . . . . . . . 9.7%  Europe without Switzerland . . 41.9%  Asia . . . . . . . . . . . . . . . 35.4%  America . . . . . . . . . . . . . . 6.4%  Africa . . . . . . . . . . . . . . . 6.4%

Educational Background

 Engineering . . . . . . . . . . . 45.1%  Computer Science & Communication Science . . . . . . . . . . . . . . 12.9%  Mathematics & Physics . . . . . 29%  Economics & Finance . . . . . . 9.7%  Various . . . . . . . . . . . . . . . 3.3%

 Physics . . . . . . . . . . . . . . 4,76%

College of Management of Technology Facts & Figures 2016

5


MTE & MFE Minor Students by EPFL Section SV – Life Science SIE – Environmental Science & Engineering SC – Communication Science PH - Physics MX – Materials Science MT - Microengineering MA - Mathematics IN – Computer Science GM – Mechanical Engineering GC – Civil Engineering EL – Electrical Engineering CGC – Chemistry AR - Architecture EPFL Middle East

1 3 14 12 22

1

50

1

4 25 5 5

20 6 19

3 20

 Minor MTE – Minor students (Spring 2016: 208)  Minor MFE – Minor students (Spring 2016: 14)

College of Management of Technology Facts & Figures 2016

6


Doctoral Programs SEPTEMBER 2016

EDMT

EDFI

Management of Technology

Financial Engineering

Applications

174

210

Admissions

19

4

Enrollments

19

4

EDMT Management of Technology

female/total: 22/50 (44%)

 Switzerland . . . . . . 24%  Europe . . . . . . . . . 47%  Asia, Americas, Africa 29%

 Academic . . . . . . 53.1%  Industry . . . . . . . 46.9%

44+56+A 24+47+29A 53+47+A

EDFI Financial Engineering

Gender

Nationality

Career

9

19+81+A 24+66+10A 57+43+A

female/total: 4/21 (19%)

 Switzerland . . . . . . 24%  Europe . . . . . . . . . 66%  Asia . . . . . . . . . . 10%

 Academic . . . . . . . 57%  Industry . . . . . . . . 43%

2

Number of Thesis awarded in 2016

College of Management of Technology Facts & Figures 2016

7


MOOCS Running / Ending MOOC Name

Professor in charge

Management of Urban Infrastructures

Matthias Finger

Smart Cities – Management of Smart Urban Infrastructures

Matthias Finger

Launching New Ventures (English, French & Chinese versions)

Christopher Tucci and Marc Gruber

Designing a Smart Specialisation Strategy (English & French versions) (1st “pay to get in” MOOC of EPFL)

Dominique Foray

Interest Rate Models

Damir Filipovic

In preparation MOOC Name

Professor in charge

Credit Risk

Pierre Collin-Dufresne

Global Arctic

Matthias Finger

Market Opportunity Identification for Technologies

Marc Gruber

Macroeconomics and Financial Markets

Luisa Lambertini

Engineering Economy

Thomas Weber

Executive Education Executive Masters Program Name

Since

Average number of students per class

Graduates students since inception

Global Supply Chain Management

1993

20-25

over 1000

EPFL Executive MBA (EPFL EMBA)

1998

30

518

Innovative Governance of Large Urban Systems (IGLUS)

2014

20

12

Certificates of Advanced Studies Global Supply Chain Management (10 ECTS) Healthcare Supply Chain Management (12 ECTS) Management of Biotech, Medtech, Pharma Ventures (10 ECTS) College of Management of Technology Facts & Figures 2016

8


Expenditures in 2016 EXPENDITURES

%

Federal funds

CHF 11 482 490

69%

Executive education / MOOC's

CHF 1 626 481

10%

Sponsored Chairs

CHF 1 799 235

11%

SNSF

CHF

947 973

5.7%

Industry contracts

CHF

177 007

1.1%

Swiss Finance Institue

CHF

250 394

1.5%

European programs

CHF

217 388

1.3%

CTI (SCCER)

CHF

143 077

0.9%

CEPF Energy Program

CHF

36 501

0.2%

Total

CHF 16 680 546

College of Management of Technology Facts & Figures 2016

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Publications Journals Self-employment, start-up incentives and political ideology. S. H. Baruffaldi, M. Marino and P. Parrotta. Applied Economics Letters, vol. 23 (4), pp. 250-254, 2016. Valuing quantity flexibility under supply chain disintermediation risk. I. Bicer and V. Hagspiel. International Journal of Production Economics, vol. 180, pp. 1-15, 2016. Infrequent rebalancing, return autocorrelation, and seasonality. V. Bogousslavsky. Journal of Finance, vol. 71 (6), pp. 2967-3006, 2016. Insider trading, stochastic liquidity, and equilibrium prices. P.  Collin-Dufresne, V.  Fos. Econometrica, vol.  84 (4), pp. 1441-1475, 2016. Parameter learning in general equilibrium: The asset pricing implications.  P. Collin-Dufresne, M. Johannes, L.A Lochstoer, American Economic Review, vol. 106 (3), pp. 664698, 2016. Why don’t all banks practice regulatory arbitrage? Evidence from usage of trust-preferred securities, N.M, Boyson, R. Fahlenbrach, R.M. Stulz. Review of Financial Studies, vol. 29 (7), pp. 1821-1859, 2016. Elliptical tempered stable distribution. H.  Fallahgoul, Y. Kim, and F. Fabozzi. Quantitative Finance, vol. 16 (7), pp. 1069-1087, 2016. Fed funds futures variance futures. D. Filipovic, A. Trolle. Quantitative Finance, vol. 16 (9), pp. 1413-1422, 2016. Old-age provision: past, present, future. H. Albrecher, P. Embrechts, D. Filipovic, W.W. Harrison, P. Koch, S. Loisel, P. Vanini, and J. Wagner. European Actuarial Journal, vol. 6 (2), pp. 287-306, 2016. Polynomial diffusions and applications in finance. D. Filipovic, and M. Larsson. Finance and Stochastics, vol. 20 (4), pp. 931-972, 2016. Quadratic variance swap models. D. Filipovic, E. Gourier, and L. Mancini. Journal of Financial Economics, vol. 119 (1), pp. 44-68, 2016. To fully net or not to net: Adverse effects of partial multilateral netting. H. Amini, and D. Filipovic, A. Minca. Operations Research, vol. 64 (5), pp. 1135-1142, 2016. Uniqueness of equilibrium in a payment system with liquidation costs. H. Amini, D. Filipovic, and A. Minca, Operations Research Letters, vol. 44 (1), pp. 1-5, 2016. On the policy space of smart specialization strategies. D. Foray. European Planning Studies, vol. 24(8), pp. 14281437, 2016.

Measuring the social identity of entrepreneurs: Scale development and international validation. Sieger, P, M. Gruber, E. Fauchart and, T. Zellweger. Journal of Business Venturing, vol. 31 (5), pp. 542–572, 2016. R&D team diversity and performance in hypercompetitive environments. K. Hoisl, M Gruber and A. Conti. Strategic Management Journal, 2016.  Flight-scheduling optimization et automation for AnadoluJet. B.  Kepir, C. Kocyigit, I.  Koyuncu, M.  B.  Ozer and B. Y. Kara et al. Interfaces, vol. 46 (4), pp. 315-325, 2016. A comment on “computational complexity of stochastic programming problems”. G. A. Hanasusanto, D. Kuhn, and W. Wiesemann. Mathematical Programming, vol. 159 (1), pp. 557-569, 2016. Distributionally robust control of constrained stochastic systems. B.  P.  G.  Van Parys, D. Kuhn, P.  J.  Goulart, and M. Morari. IEEE Transactions on Automatic Control, vol. 61(2), pp. 430-442, 2016. Generalized Gauss inequalities via semidefinite programming. B. P. G. Van Parys, P. J. Goulart, and D. Kuhn. Mathematical Programming, vol. 156 (1), pp. 271-302, 2016. K-adaptability in two-Stage distributionally robust binary programming. G. A. Hanasusanto, D. Kuhn and W. Wiesemann. Operations Research Letters, vol. 44 (1), pp. 6-11, 2016. A linear programming approach to the optimization of residential energy systems. D. Lauinger, P. Caliandro, J. Van herle, D. Kuhn. Journal of Energy Storage, Vol. 7, Pages 24-37, 2016. Optimal exchange rate flexibility with large labor unions. V. Cuciniello, L. Lambertini. Journal of International Money and Finance, vol. 63, pp. 112-136, 2016. Optimal reinsurance with multiple tranches. S. Malamud, H. Rui, and A. Whinston, Journal of Mathematical Economics. vol. 65, pp. 71-82, 2016. Scientific research measures. M. Frittelli, and L. Mancini, I. Peri. Journal of the Association for Information Science and Technology, vol. 67 (12), pp. 3051-3063, 2016. The euro interbank repo market. L. Mancini, A. Ranaldo, and J. Wrampelmeyer. Review of Financial Studies, vol. 29 (7), pp. 1747-1779, 2016. Satisficing measure approach for vehicle routing problem with time windows under uncertainty. V. A. Nguyen, J. Jiang, K. M. Ng, and K. M. Teo. European Journal Of Operational Research, vol. 248 (2), pp. 404-414, 2016.

College of Management of Technology Facts & Figures 2016

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Barriers to innovation and firm productivity. G. Pellegrino, A. Coad, and M. Savona. Economics of Innovation and New Technology, vol. 25 (3), pp. 321-334, 2016.

E Hardi, G. Dijkema, and M. Weijnen. International Journal of Complexity in Applied Science and Technology, vol. 1(1), pp. 5-21, 2016.

Pitfalls in aggregating performance measures in higher education. R. Williams, and G. de Rassenfosse. Studies in Higher Education, vol. 41 (1), pp. 51-62, 2016.

Information production and social value for public policy: A conceptual modeling perspective. G. Viscusi, and C. Batini. Policy & Internet, vol. 8 (3), pp. 334-353, 2016.

Venture debt financing: Determinants of the lending decision. G. de Rassenfosse and T. Fischer. Strategic Entrepreneurship Journal, vol. 10 (3), pp. 235-256, 2016.

Innovation capacity and the role of information systems : A qualitative study. A. Achi, C. Salinesi, and G. Viscusi. Journal of Management Analytics, vol. 3 (4), pp. 333-360, 2016.

Why do patents facilitate trade in technology? Testing the disclosure and appropriation effects. G. de Rassenfosse, A. Palangkaraya and E. Webster. Research Policy, vol. 45 (7), pp. 1326-1336, 2016.

The productivity of science & engineering PhD students hired from supervisors’ networks. S. H. Baruffaldi, F. Visentin, and A. Conti. Research Policy, vol. 45 (4), pp. 785–796, 2016.

External design for reputation, perspective and exposure. C. Abecassis-Moedas and J. Rodrigues Pereira. Accepted by Creativity and Innovation Management, vol.  25 (3), pp. 396-407, 2016.

A robust resolution of Newcomb’s paradox. T. A. Weber. Theory and Decision, vol. 81 (3), pp. 339-356, 2016.

Multi-period portfolio optimization: Translation of autocorrelation risk to excess variance. B.-G. Choi, N. Rujeerapaiboon, and R. Jiang. Operations Research Letters, vol. 44 (6), pp. 801-807, 2016. Robust growth-optimal portfolios. N.  Rujeerapaiboon, D. Kuhn, and W. Wiesemann. Management Science, vol. 62 (7), pp. 2090-2109, 2016. Dynamic product portfolio management with life cycle considerations. R. W. Seifert, I. Biçer, and J.-S. Tancrez. International Journal of Production Economics, vol. 171, pp. 71-83, 2016. Knowledge spillovers in the supply chain: Evidence from the High Tech Sectors. O. Isaksson, M. Simeth, and R. W. Seifert. Research Policy, vol. 45 (3), pp. 699-706, 2016. Quantifying the bullwhip effect using two-echelon data: A cross-industry empirical investigation. O. H. D. Isaksson, and R. W. Seifert. International Journal of Production Economics, vol. 171, pp. 311-320, 2016. Evolving Takagi-Sugeno model based on online Gustafson-Kessel algorithm and kernel recursive least square method. S. Shafieezadeh-Abadeh, and A. Kalhor. Evolving Systems, vol. 7 (1), pp. 1-14, 2016. The total benefit of alternative assets to pension fund portfolios. J. Jackwerth, and A. Slavutskaya. Journal of Financial Markets, vol. 31, pp.25-42. 2016.

Optimal multi attribute screening. T.A. Weber. Ural Mathematical Journal, vol. 2 (2), pp. 87-107, 2016. Product pricing in a peer-to-peer economy. T.A. Weber. Journal of Management Information Systems, vol. 33 (2), pp. 573-596, 2016. Special section: When machine meets society: Social impacts of information and information economics. E. K. Clemons, R. M. Dewan, R. J. Kauffman, and T. A. Weber. Journal of Management Information Systems, vol. 33 (2), pp. 542-545, 2016. Three-level inventory deployment for a luxury watch company facing various perturbations. J. Respen, N. Zufferey, and Ph. Wieser. Journal of the Operational Research Society, pp. 1-16, 2016. The value of employee retention: Evidence from a natural experiment. K. A. Younge, and M. Marx. Journal of Economics & Management Strategy, vol. 25 (3), pp. 652-677, 2016.

Books & book chapters Fractional calculus and fractional processes with applications to financial economics: Theory and application. H. Fallahgoul, S. Focardi, and F. Fabozzi. Academic Press, 2016. Rail economics, regulation and policy in Europe. M. Finger, and P. Messulam. Edward Elgar Publishing, Cheltenham, 2016.

When do firms undertake open, collaborative activities? C. L. Tucci, H. Chesbrough, F. Piller, and J. West. Industrial & Corporate Change, vol. 25 (2), pp. 283–288, 2016.

Towards cognitive cities. Advances in cognitive computing and its application to the governance of large urban systems. E. Portmann and M. Finger (eds.) Berlin: Springer, 2016.

Modelling socio-ecological systems with MAIA: A biogas infrastructure simulation. R. Verhoog, A. Ghorbani, and G.  P.  J.  Dijkema. Environmental Modelling & Software, vol. 81, pp. 72-85, 2016.

Technological innovation and economic transformation: A method for contextual analysis. H. C.  Gautschi, and D. Gautschi. Palgrave Macmillan, New York, NY, 978-1137-54868-9, 2016.

Structuring socio-technical complexity in infrastructure systems: an agent-based model. R. Verhoog, A. Ghorbani,

Information systems for innovation: A comparative analysis of maturity models’ characteristics. A. Achi, C. Salinesi,

College of Management of Technology Facts & Figures 2016

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and G. Viscusi. Advanced Information Systems Engineering Workshops, pp. 78-90, Lecture Notes in Business Information Processing 249, 2016. Governing energy transitions: Transition goals in the swiss energy sector. R. Verhoog, and M. Finger. In Energy and Finance (pp. 107-121). Springer International Publishing. 2016.

Doctoral dissertations Essays on Capital Calculation in Insurance. M. Cambou, A. Davison and D. Filipovic (Co-Dirs.). EPFL, 2016. Innovation dynamics in the medical device sector: network of collaborations, knowledge spillovers and regulation. M. Coffano, D. Foray (Dir.). EPFL, Lausanne, 2016. Financing rail infrastructure by multi-annual performance contracts: A case-based evaluation. D. A. Greinus, M. Finger (Dir.). EPFL, Lausanne, 2016. Essays on the market structure and pricing of credit derivatives. B. Junge, A. Trolle (Dir.). EPFL, Lausanne, 2016. Signaling and self-regulation in venture capital: Evidence from investments in the clean technology sector. G. Liotta, C. Tucci, and A. Wadhwa (Dirs.). EPFL, Lausanne, 2016. Supply chain disruption risk management: Modeling risk mitigation strategies. F. C. M. Lücker, R. W. Seifert (Dir.). EPFL, Lausanne, 2016. Supply chain management in process industries: Empirical investigations for commodity markets. P. U. Moser, R. W. Seifert (Dir.). EPFL, Lausanne, 2016. The beacon: A new framework for business model reconfiguration for complex enterprises. D. R. Parekh, C. Tucci (Dir.). EPFL, Lausanne, 2016. An action research inquiry into professional training and development for addressing complex urban problems. M. Razaghi, M. Finger (Dir.). EPFL, Lausanne, 2016. Dimensionality reduction in dynamic optimization under uncertainty. N. Rujeerapaiboon, D. Kuhn, and W. Wiesemann (Dirs.). EPFL, Lausanne, 2016. Essays in financial economics. C. Trevisan, P. Collin-Dufresne (Dir.). EPFL, Lausanne, 2016.

College of Management of Technology Facts & Figures 2016

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Fact & Figures 2016 of the College of management of EPFL  

Fact & Figures 2016 of the College of management of EPFL  

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