College of management of technology

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015 1st

19

1/3

in Europe in Social Sciences & Humanities, Leiden Ranking 2015

Faculty members

1/3

Women

Personnel paid from 3rd party funds

ORGANIZATIONAL CHART CDM

College of Management of Technology CHRISTOPHER TUCCI

MTEI

ITPP

Management of Technology & Entrepreneurship Institute RALF SEIFERT

SFI

Institute of Technology & Public Policy

Swiss Finance Institute at EPFL

MATTHIAS FINGER

DAMIR FILIPOVIC

MTE

Master Program in Management, Technology & Entrepreneurship MARC GRUBER

EDMT

Doctoral Program in Management of Technology DOMINIQUE FORAY

MFE

Master Program in Financial Engineering JULIEN HUGONNIER

EDFI

Doctoral Program in Finance PIERRE COLLIN-DUFRESNE

FOCAL AREAS MANAGEMENT • Management of innovation • Entrepreneurial strategies • Operations management • Supply chain management • Technology commercialization • Technology management

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

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015

FINANCE • Asset pricing • Corporate finance • Financial economics • Financial engineering • Macroeconomics • Risk management 1

FACULTY MEMBERS 1/2 MANAGEMENT OF TECHNOLOGY & ENTREPRENEURSHIP INSTITUTE (MTEI) MARC GRUBER

DANIEL KUHN

KEY WORDS • Entrepreneurship & corporate entrepreneurship • Opportunity identification • Necessity entrepreneurship

KEY WORDS • Decision-making under uncertainty • Stochastic programming & robust optimization • Large-scale data-driven optimization • Uncertainty quantification

RALF SEIFERT

CHRISTOPHER TUCCI

KEY WORDS • Supply chain management • Supply chain finance • Technology adoption

KEY WORDS • Crowdsourcing • Creativity & innovation in firms • Design thinking • Social media

THOMAS WEBER

PHILIPPE WIESER

KEY WORDS • Design of incentives & markets • Dynamic optimization • Industrial organization & public policy • Resource allocation under uncertainty

KEY WORDS • Supply chain management • Quality management • Optimization

Full Professor Chair of Entrepreneurship & Technology Commercialization (ENTC)

Full Professor Chair of Technology & Operations Management (TOM)

Associate Professor Chair of Operations, Economics & Strategy (OES)

Associate Professor Chair of Risk Analytics & Optimization (RAO)

Full Professor Chair of Corporate Strategy & Innovation (CSI)

Adjunct Professor Chair of Logistics, Economics & Management (LEM)

KENNETH YOUNGE

Associate Professor Chair of Technology & Innovation Strategy (TIS) KEY WORDS • Technology & innovation strategy • Employee mobility • New venture creation • Data science

INSTITUTE OF TECHNOLOGY AND PUBLIC POLICY (ITPP) MATTHIAS FINGER

DOMINIQUE FORAY

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

KEY WORDS • Evidence-based policy research • Research & innovation performance • Smart specialization

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

Full Professor Chair of Economics & Management of Innovation (CEMI)

GAÉTAN DE RASSENFOSSE

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

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015

2

FACULTY MEMBERS 2/2 SWISS FINANCE INSTITUTE AT EPFL (SFI) PIERRE COLLIN-DUFRESNE

RÜDIGER FAHLENBRACH

KEY WORDS • Credit & liquidity risk • Optimal asset allocation • Pricing & hedging

KEY WORDS • Corporate finance & governance • Causes & consequences of the recent financial crisis • Banking regulation

DAMIR FILIPOVIC

JULIEN HUGONNIER

Full Professor Professor of Finance

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

LUISA LAMBERTINI

Full Professor Swissquote Chair in Quantitative Finance (CSF) KEY WORDS • Macroeconomics • International Finance • Monetary & fiscal policy

Associate Professor Professor of Finance

Associate Professor Professor of Finance

KEY WORDS • Asset pricing theory • Dynamic corporate finance • Decision making under uncertainty

SEMYON MALAMUD Associate Professor Professor of Finance

KEY WORDS • Portfolio selection • Non-linear filtering • Liquidity & asset prices

LORIANO MANCINI

ERWAN MORELLEC

KEY WORDS • Liquidity • Volatility • Tail risk • High frequency data

KEY WORDS • Real options • Financing & capital structure decisions • Liquidity management • Risk management

Assistant Professor (Tenure Track) Professor of Finance

Full Professor Professor of Finance

ANDERS TROLLE

Assistant Professor (Tenure Track) Professor of Finance KEY WORDS • Derivatives • Interbank risk • Credit risk • Liquidity risk

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015

3

CDM IN RANKINGS

REGION

FIELD

EPFL RANK

Europe

Social sciences & humanities

1

World

Social sciences & humanities

15

CWTS Leiden Ranking 2015

1

The UTD Top 100 Business School Research Rankings (2010 - 2015)

2

1

Switzerland

Top publications in management, OR & finance

1

Europe

Top publications in management, OR & finance

12

Selected indicators: Impact and PP (top 1%)

2

Ranked by number of articles

PERSONNEL BY CATEGORY (FTE)

TOTAL

% WOMEN

BUDGETARY FUNDS

3RD PARTY FUNDS

17.5

5.7

13

4.5

8.5

11.8

6.5

2

Associate professors

6

--

4.5

1.5

Assistant professors (tenure track)

3

--

2

1

64.8

30.9

40.2

24.6

1

--

1

-

21.8

27.5

13

8.8

PhD students

42

33.3

26.2

15.8

Administrative & technical staff

18

65.7

14.5

3.5

Administrative staff

14

84.3

11.5

2.5

Technical staff

4

--

3

1

Apprentices

2

50

2

–

102.3

33.1

69.7

32.6

Professors Full professors

Scientific staff Adjunct professors Senior scientists / postdocs

Total

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015

4

EDUCATION 1 /2 MASTER PROGRAMS AY 2014-15

MTE MANAGEMENT, TECHNOLOGY & ENTREPRENEURSHIP

MFE FINANCIAL ENGINEERING

Applications

210

185

Admissions

38

53

Acceptances

28

33

Total enrollments

57

85

Minor students

170

14

Exchange students

17

7

MTE 1st-Year Student Profile

MFE 1st-Year Student Profile

GENDER

Male 57% Female 43%

Male 79% Female 21%

NATIONALITY

Europe 61% Asia 21% America 14% Africa 4%

Europe 76% Asia 15% Africa 9%

EDUCATIONAL BACKGROUND General engineering 25% Electrical engineering 21% Chemistery 18% Material sciences 14% Civil enginering 7% Life sciences 3% Computer sciences 4% Mechanical engineering 4% Environmental sciences 4%

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015

Mathematics & Physics 46% Economics & Finance 24% Engineering 21% Computer sciences 6% Various 3%

5

EDUCATION 2/2 MTE and MFE Minor Students by EPFL Section 17

SV - Life Science SIE -Environmental Science & Engenineering

7

3

SC - Communication Science

2

PH - Physics

15 4 17

MX - Materials Science 15

MT - Microengineeering 3

MA - Mathematics IN - Computer Science

6

2

GM - Mechanical Engineering

10 46

GC - Civil Engineering EL - Electrical Engineering

16

1

7

CGC - Chemistry AR - Architecture

11

2

MTE - Minor students (total number: 170)

MFE - Minor students (total number: 14)

MOOCS RUNNING / ENDED: • Christopher Tucci & Marc Gruber: Launching New Ventures (May - July 2015) • Matthias Finger: Management of Urban Infrastructure (May - July 2016) UNDER PREPARATION: • • • • • • •

Pierre Collin Dufresne: Credit Risks Damir Filipovic: Interest Rate Models Matthias Finger: Smart Cities Dominique Foray: Smart Specialization Marc Gruber: Market Opportunity Identification for Technologies Luisa Lambertini: Macroeconomic and Financial Markets Thomas Weber: Engineering Economy

EXECUTIVE EDUCATION

ACADEMIC DIRECTOR

OFFERED SINCE

NUMBER OF GRADUATES / STUDENTS IN 2015

Global Supply Chain Management

Philippe Wieser

1993

23

Management of Technology (MoT)

Christopher Tucci

1998

38

Matthias Finger

2013

16

PROGRAM NAME

Innovative Governance of Large Urban Systems (IGLUS)

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015

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EXPENDITURES IN 2015

66.3%

Federal funds

Total Spending: 15.722 kCHF

11.8%

4.4% SNSF

9.3%

Sponsored Chairs

Executive education / MOOC’s

3.1% Industry contracts 1.8% Swiss Finance Institute 1.3% European programs 0.9% CTI 0.9% CEPF Energy Program 0.2% Various

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015

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PUBLICATION LIST PEER REVIEWED PUBLICATIONS 1/3 1. Control of interbank contagion under partial information. H. Amini, A. Minca and A. Sulem. Siam Journal on Financial Mathematics, vol. 6(1), pp. 1195-1219, 2015.

2. Dual sourcing under heavy-tailed demand: An extreme value theory approach. I. Biรงer. International Journal of Production Research, vol. 53(16), pp. 4979-4992, 2015.

3. Dividend dynamics and the term structure of dividend strips. F. Belo, P. Collin-Dufresne and R.S. Goldstein. The Journal of Finance, vol. 70(3), pp. 1115-1160, 2015.

4. Do prices reveal the presence of informed trading?

P. Collin-Dufresne and V. Fos. The Journal of Finance, vol.

70(4), pp. 1555-1582, 2015.

5. Modeling credit contagion via the updating of fragile beliefs. L. Benzoni, P. Collin-Dufresne, R. Goldstein and J. Helwege. The Review of Financial Studies, vol. 28(7), pp. 1960-2008, 2015.

6. On bounding credit-event risk-premia. J. Bai, P. Collin-Dufresne, R.S. Goldstein and J. Helwege.

The Review of Financial Studies, vol. 28(9), pp. 2608-2642, 2015.

7. Optimal investment and premium policies under risk shifting and solvency regulation. D. Filipovic, R. Kremslehner and A. Muermann. The Journal of Risk and Insurance, vol. 82(2), pp. 261-288, 2015.

8. EU transport policy. M. Finger, N. Bert and D. Kupfer.

Transportation and Economy, vol. 75(5), pp. 4-9, 2015.

9. The alignment framework. M. Finger, N. Crettenand and W. Lemstra. Competition and Regulation in Network Industries, vol. 15(2), pp. 89-105, 2015.

10. Towards becoming an emerging country with a performing electricity sector - the case of Cameroon. N. Crettenand, J. Kenfack and M. Finger.

Competition and Regulation in Network Industries, vol.

15(2), pp.129-154, 2015.

11. Yes, no, maybe: The ambiguous relationships between state-owned enterprises and the state.

C. Rentsch and M. Finger. Annals of Public and Cooperative Economics, vol. 86(4), pp.617-640, 2015.

12. An assessment of the Innovation Union Scoreboard as a tool to analyse national innovation capacities: the case of Switzerland. D. Foray and H. Hollanders. Research Evaluation, vol. 24(2), pp. 213-228, 2015.

13. Common Innovation (how we create the wealth of nations) in the light of reflections on Mass Flourishing (how grassroots innovation created jobs, challenge, and change). D. Foray. Research Policy, vol. 44(7), pp. 1403-1405, 2015.

14. Transition economics meets new structural economics. E. Berglof, D. Foray, M. Landesmann, J.Y. Lin, M.N. Campos, P. Sanfey, S. Radosevic and N. Volchkova.

Journal of Economic Policy Reform, vol. 18(3), pp. 191-220, 2015.

15. Managing by design. M. Gruber, N. de Leon, G. George and P. Thompson. Academy of Management Journal, vol. 58(1), pp. 1-7, 2015.

16. The effects of opportunities and founder experience on new firm performance. J.C. Dencker and M. Gruber. Strategic Management Journal, vol.

36(7), pp. 1035-1052, 2015.

17. What is an attractive business opportunity? An empirical study of opportunity evaluation decisions by technologists, managers, and entrepreneurs.

M. Gruber, S. M. Kim and J. Brinckmann. Strategic Entrepreneurship Journal, vol. 9(3), pp. 205-225, 2015.

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015

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PUBLICATION LIST PEER REVIEWED PUBLICATIONS 2/3 18. Asset pricing with arbitrage activity.

J. Hugonnier and R. Prieto. Journal of Financial Economics, vol. 115(2), pp. 411-428, 2015.

19. Capital supply uncertainty, cash holdings, and investment. J. Hugonnier, S. Malamud and E. Morellec. The Review of Financial Studies, vol. 28(2), pp. 391-445, 2015.

20. Credit market frictions and capital structure dynamics. J. Hugonnier, S. Malamud and E. Morellec. Journal of Economic Theory, vol. 157, pp. 1130-1158, 2015.

21. A distributionally robust perspective on uncertainty quantification and chance constrained programming. G.A. Hanasusanto, V. Roitch, D. Kuhn and W. Wiesemann. Mathematical Programming, vol.

151(1), pp. 35-62, 2015.

22. Distributionally robust multi-item newsvendor problems with multimodal demand distributions.

G.A. Hanasusanto, D. Kuhn, S.W. Wallace and S. Zymler.

Mathematical Programming, vol. 152(1-2), pp. 1-32, 2015.

23. Generalized decision rule approximations for stochastic programming via liftings. A. Georghiou, W. Wiesemann and D. Kuhn. Mathematical Programming, vol. 152(1), pp. 301-338, 2015.

24. Interdiction games on Markovian PERT networks. E. Gutin, D. Kuhn and W. Wiesemann.

Management Science, vol. 61(5), pp. 999-1017, 2015.

25. K-adaptability in two-stage robust binary programming. G.A. Hanasusanto, D. Kuhn and W. Wiesemann. Operations Research, vol. 63(4), pp. 877-891, 2015.

26. Default and systemic risk in equilibrium. A. Capponi and M. Larsson. Mathematical Finance, vol. 25(1), pp. 51-76, 2015.

27. The ‘Policy Mix’ for sustainable urban transition: The city district of Hammarby Sjöstad in Stockholm.

A. Mahzouni. Environmental Policy and Governance, vol.

25(4), pp. 288-302, 2015.

28. Reprint of: Information percolation in segmented markets. D. Duffie, S. Malamud and G. Manso. Journal of Economic Theory, vol. 158(B), pp. 838-869, 2015.

29. Detecting abnormal trading activities in option markets. M. Chesney, R. Crameri and L. Mancini.

Journal of Empirical Finance, vol. 33, pp. 263-275, 2015.

30. Financing investment: The choice between bonds and bank loans. E. Morellec, P. Valta and A. Zhdanov. Management Science, vol. 61(11), pp. 2580-2602, 2015.

31. Investment-based financing constraints and debt renegotiation. T. Shibata and M. Nishihara.

Journal of Banking & Finance, vol. 51, pp. 79-92, 2015.

32. Investment timing, debt structure, and financing constraints. T. Shibata and M. Nishihara. European Journal of Operational Research, vol. 241(2), pp. 513-526, 2015.

33. The effects of business cycle and debt maturity on a firm’s investment and default decisions. H. Jeon and M. Nishihara. International Review of Economics & Finance, vol. 38, pp. 326-351, 2015.

34. Rules of engagement: measuring connectivity in national systems of higher education. G. de Rassenfosse and R. Williams. Higher Education, vol.

70(6), pp. 941-956, 2015.

35. Carbon footprint and responsiveness trade-offs in supply chain network design. J.M. Comas Marti, J.-S. Tancrez and R.W. Seifert. International Journal of Production Economics, vol. 166, pp. 129-142, 2015.

COLLEGE OF MANAGEMENT OF TECHNOLOGY FACTS & FIGURES 2015

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PUBLICATION LIST PEER REVIEWED PUBLICATIONS 3/3 36. Dynamic capabilities in sustainable supply chain management: A theoretical framework.

M. Kirci and R.W. Seifert. Supply Chain Forum: An International Journal, vol. 16(4), pp. 2–15, 2015.

37. On the optimal frequency of multiple generation product introductions. S. Liao and R.W. Seifert.

European Journal of Operational Research, vol. 245(3), pp. 805-814, 2015.

38. Marriage stability, taxation and aggregate labor supply in the U.S. vs. Europe. I. Chakraborty, H.A. Holter and S. Stepanchuk. Journal of Monetary Economics, vol. 72, pp. 1-20, 2015.

39. International portfolios: A comparison of solution methods. K. Rabitsch, S. Stepanchuk and V. Tsyrennikov. Journal of International Economics, vol.

97(2), pp. 404-422, 2015.

40. Portfolio and welfare consequences of debt market dominance. S. Stepanchuk and V. Tsyrennikov.

Journal of Monetary Economics, vol. 74, pp. 89-101, 2015.

41. From data quality to big data quality. C. Batini, A. Rula, M. Scannapieco and G. Viscusi. Journal of Database Management, vol. 26(1), pp. 60-82, 2015.

42. Service portfolio management: A repositorybased framework. M. Comerio, C. Batini, M. Castelli, S. Grega, M. Rossetti and G. Viscusi. Journal of Systems and Software, vol. 104, pp. 112–125, 2015.

43. Shaping public sector innovation theory: An interpretative framework for ICT-enabled governance innovation. G. Misuraca and G. Viscusi.

Electronic Commerce Research, vol. 15(3), pp. 303-322, 2015.

44. A revealed preference analysis of PhD students’ choices over employment outcomes. A. Conti and F. Visentin. Research Policy, vol. 44(10), pp. 1931–1947, 2015.

45. Science and engineering Ph.D. students’ career outcomes, by Gender. A. Conti and F. Visentin. PLOS ONE, 10(8): e0133177. doi:10.1371/journal.pone.0133177, 2015.

46. Dynamic valuation of delinquent credit-card accounts. N. Chehrazi and T.A. Weber. Management Science, vol. 61(12), pp. 3077-3096, 2015.

47. Special section: online social connections: Efficiency versus regulation. E.K. Clemons, R.M. Dewan, R.J. Kauffman and T.A. Weber. Journal of Management Information Systems, vol. 32(2), pp. 4-7, 2015.

46. How anticipated employee mobility affects acquisition likelihood: evidence from a natural experiment. K. Younge, T.W. Tong and L. Fleming.

Strategic Management Journal, vol. 36(5), p. 686-708, 2015.

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PUBLICATION LIST BOOKS & BOOK CHAPTERS 1. Rail economics, policy and regulation in Europe.

M. Finger and P. Messulam (Eds.). Edward Elgar Publishing, 2015.

2. Rail economics and regulation. M. Finger and P. Messulam. In: M. Finger and P. Messulam (Eds.). Rail economics, policy and regulation in Europe. Edward Elgar Publishing, pp. 1-21, 2015.

3. Rail access charges. M. Finger and P. Messulam. In: M. Finger and P. Messulam (Eds.). Rail economics, policy and regulation in Europe. Edward Elgar Publishing, pp.

323-340, 2015.

4. The Routledge companion to network industries.

M. Fingerand C. Jaag (Eds.). Routledge, 2015.

5. European rail policy and regulation. M. Finger. In: M. Finger and C. Jaag (Eds.). The Routledge companion to network industries. Routledge, pp. 211-224, 2015.

6. Smart specialisation - opportunities and challenges for regional innovation policy. D. Foray (Ed.). Routledge, 2015.

7. Should we let the Genie out of the bottle? On the new industrial policy agenda and the example of smart specialization. D. Foray. In: Scienze regionali, Franco Angeli, pp. 25-30, 2015 8. The stochastic time-constrained net present value problem. W. Wiesemann and D. Kuhn. In: C. Schwindt and J. Zimmermann (Eds.). Handbook on project management and scheduling, vol. 2, International handbooks on information systems, Springer International Publishing, pp. 753-780 2015.

9. Challenges laying ahead for future digital enterprises: a research perspective. I. Alvertis, P. Kokkinakos, S. Koussouris, F. Lampathaki, J. Psarras, G. Viscusi and C.L. Tucci. In: A. Persson and J. Stirna (Eds.).

CAiSE 2015 workshops, LNBIP 215, pp. 195–206, 2015.

10. Innovation and entrepreneurship in renewable energy. K. Younge, R. Nanda, L. Fleming. In: A. Jaffe and B. Jones (Eds.). The Changing frontier: rethinking science and innovation policy. University of Chicago Press, pp.

199-232, 2015

DOCTORAL DISSERTATIONS 1. Three essays on the role of proximity in science and innovation. Stefano H. Baruffaldi (Supervisor: Dominique Foray), EDMT, 2015.

5. Mitigating crime risks in the international logistics network: the case of Swiss Post. Toni A. Männistö (Supervisor: Matthias Finger), EDMT, 2015.

2. Energy efficiency valuation and mortgage’s implicit insurance. Philippe Bélanger (Supervisor: Philippe Thalmann), EDMT, 2015.

6. Institutions, innovation and public health. Viviana C. Munoz Tellez de Kieffer (Supervisor: Dominique Foray), EDMT, 2015.

3. Human-centered innovation processes: the case of design thinking in nascent and large firms. Alan Cabello Llamas (Supervisor: Christopher Tucci), EDMT, 2015.

7. Building capabilities for service innovation: a multi-level perspective on strategies and evolution.

Andreas F. von Vangerow (Supervisor: Christopher Tucci), EDMT, 2015.

4. Essays in empirical corporate finance. Stefano Colonnello (Supervisors: Erwan Morellec and Rüdiger Fahlenbrach), EDFI, 2015.

8. Essays in dynamic corporate finance. Francesca M. Zucchi (Supervisor: Erwan Morellec), EDFI, 2015.

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