GERMAIN Laurent

Professeur Resident faculty TBS

Department: Economics, Finance and Law


CURRICULUM VITAE

Qualification

  • 2005 : HDR • UNIVERSITY PARIS DAUPHINE, Paris
  • 1999 : ITP • NEW YORK UNIVERSITY, STERN SCHOOL OF BUSINESS, New York
  • 1997 : POST DOCTORATE • LONDON BUSINESS SCHOOL, London
  • 1997 : PhD (Chairman Jean Tirole) • TOULOUSE SCHOOL OF ECONOMICS, Toulouse
  • 1994 : European Diploma of Quantitave Economics • TOULOUSE SCHOOL OF ECONOMICS, Toulouse
  • 1993 : MASTER IN ECONOMICS AND FINANCE • TOULOUSE SCHOOL OF ECONOMICS, Toulouse
  • 1992 : MASTER IN MANAGEMENT • TOULOUSE BUSINESS SCHOOL, Toulouse

Management Duties

  • Head of the Financial Economics Group (1999-2015) (Toulouse)
  • DBA, MBA, MS, M2 (Paris, Toulouse)
  • Co-Head Banking and Financial Markets OP (Toulouse)
  • Co-Head Advanced Finance Program (Toulouse)
  • Co-Head Research Program (Toulouse)
  • Thesis Supervision (Toulouse)

 

PUBLICATIONS

Academic publications

  • BAECHLER, G., L.GERMAIN, "A literature review on neurofinance", Finance, 2018, vol. 2018/2 (Vol. 39), pp. 9-41[Cnrs :2, Fnege: 2]
    link
  • BOCO, H., L.GERMAIN, F.ROUSSEAU, "Strategic Market Making and Risk Sharing", Journal of Mathematical Finance, 2017, vol. 07, no. 01, pp. 144-179
    link
  • BOURJADE, S., L.GERMAIN, C.LYON-CAEN, "Conseils d’administration : indépendance, collusion et conflits d’intérêts", Revue Française d'Économie, 2016, vol. XXXI, no. 2, pp. 3-25[Cnrs :3]
    link
  • BOCO, H., L.GERMAIN, F.ROUSSEAU, "Heterogeneous noisy beliefs and dynamic competition in financial markets", Economic Modelling, April 2016, vol. 54, no. 54, pp. 347-363[Cnrs :2]
    link
  • GERMAIN, L., F.ROUSSEAU, A.VANHEMS, "Irrational Market Makers", Finance, April 2014, vol. 35, no. 1, pp. 107-145[Cnrs :2, Fnege: 2]
    link
  • GALY, N., L.GERMAIN, D.HILTON, R.MATHES, "In which media are analysts' recommendations most followed?", RB Bankers, Markets & Investors, November 2014, no. 133, pp. 34-46
    link
  • GERMAIN, L., N.GALY, W.LEE, "Corporate governance reform in Malaysia: Board size, independence and monitoring", Journal of Economics and Business, September 2014, vol. 75, pp. 126-162
    link
  • GERMAIN, L., B.KLUGER, C.PUNGULESCU, D.STOLIN, D.WEAVER, "Intra-Dealer Integration", European Financial Management, September 2010, vol. 16, no. 4, pp. 507-527[Cnrs :3]
    link
  • GERMAIN, L., R.DRIDI, "Noise and Competition in Strategic Oligopoly", Journal of Financial Intermediation, March 2009, vol. 18, no. 2, pp. 311-327[Cnrs :2]
    link
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information", Journal of Financial Intermediation, April 2005, vol. 14, no. 2, pp. 179-209
  • DRIDI, R., L.GERMAIN, "Bullish Bearish Strategies of Trading: A Non Linear Equilibrium", Journal of Financial and Quantitative Analysis, December 2004
  • GERMAIN, L., "High Speed of Learning in Financial Markets", Finance, December 2003, vol. 24, pp. 79-86
  • BIAIS, B., L.GERMAIN, "Incentive Compatible Contracts for the Sale of Information", Review of Financial Studies, July 2002, vol. 15, no. 4, pp. 987-1003
  • GERMAIN, L., "Efficience des Marchés Financiers", Les Echos, March 1998, vol. special issue
  • GERMAIN, L., "Market efficiency : A mirror for information", Financial Times, May 1997, vol. Special issue

Books

  • GERMAIN, L., E.BONHOURE, "1.7. Corporate governance in France (2008-2016)" in Corporate Governance: New Challenges and Opportunities., Alexander N. Kostyuk, Udo Braendle, Vincenzo Capizzi Eds, Virtus Interpress, chap. 1, 2017 [978-617-7309-00-9]
    link
  • GABILLON, J.-C., L.GERMAIN, N.NALPAS, "The financial crisis and the credit derivatives pricing models" in Rethinking Valuation and Pricing Models., Wehn & Hoppe & Gregoriou Ed., pp. 147-176, 2012 [978-01-241-587-57]
    link
  • GERMAIN, L., N.NALPAS, A.VANHEMS, "Non-parametric hedge funds and replication indices performance analysis : a robust directional application" in Hedge Funds Replication., Greg N.Gregoriou et Maher Kooli Ed., pp. 90-105, 2011 [978-0230-3368-10]
    link
  • GERMAIN, L., F.ROUSSEAU, A.VANHEMS, "Strategic Financial Intermediaries with Brokerage Activities" in Handbook of Trading., Greg N. Gregoriou Ed., chap. Ch 26, pp. 389-402, 2010 [978-0071743532]
    link
  • GERMAIN, L., "Market Efficiency : A Mirror for Information" in Mastering Finance., pp. 160-162, 1998 [0-27363-965-X]
  • GERMAIN, L., "L’efficience des marchés, indice de la transparence" in L’art de la Finance., pp. 124-125, 1998 [978-2842-1104-75]

Published case

Conferences

  • BOURJADE, S., L.GERMAIN, "Executive Compensation, Monitoring and Collusion in Boards of Directors" in 18th annual Meeting , 11-13 july, Paris., Meeting of the association for public economy theory, 2017
  • FU, J., D.LACOSTE, L.GERMAIN, S.NICHOLAS, E.MAITLAND, "Emerging Market Business Groups: Diversification and Internationalization of Qiye Jituan" in AIB 2017 Annual Meeting, Dubai, UAE, 2-5/07/2017., Academy of International Business, 2017, Dubaï
    link
  • GERMAIN, L., N.GALY, W.LEE, "Market reaction to the malaysian code on corporate governance" Conference Financial and Corporate Governance. April 2014, Brisbane, Australia
  • BAECHLER, G., L.GERMAIN, N.NALPAS, "Risk aversion, asset allocation and the role of banks around financial crisis" International Conference FEBS. June 2013, Paris, France
    link
  • FU, J., D.LACOSTE, L.GERMAIN, "Diversification, Internationalization and Institutional Context" in AOM Annual Conference, Orlando, Florida 9-13/08/2013., AOM Annual Conference, 2013, Orlando, United States of America
    link
  • BOCO, H., L.GERMAIN, F.ROUSSEAU, "Heterogeneous beliefs and imperfect competition in sequential auction markets" Conférence des Grandes Ecoles Essec. February 2013, Paris, France
    link
  • BAECHLER, G., L.GERMAIN, N.NALPAS, "Risk aversion, asset allocation and the role of banks around financial crisis" Conférence IFABS. June 2013, Nottingham, Great Britain
    link
  • BOURJADE, S., L.GERMAIN, "Optimal monitoring and collusion in board of directors" Finance Workshop. June 2013, Toulouse, France
  • BOURJADE, S., L.GERMAIN, "Optimal Monitoring and Collusion in Board of Directors" in Congrès EARIE., 2012, Rome, Italy
    link
  • BOCO, H., L.GERMAIN, F.ROUSSEAU, "When overconfident traders meet feedback traders" in Séminaire Inter-Business Schools., 2011, Rouen, France
    link
  • GALY, N., L.GERMAIN, "Media coverage of analysts' recommandations and firm share prices" in AFFI., 2011, Montpellier, France
    link
  • BOCO, H., L.GERMAIN, F.ROUSSEAU, "When overconfident traders meet feedback traders" in Midwest Finance Association., 2011, Chicago, United States of America
    link
  • BOCO, H., L.GERMAIN, F.ROUSSEAU, "When overconfident traders meet feedback traders" in AFFI - The 28th annual International Conference of the French Finance Association., 2011, Montpellier, France
    link
  • BOCO, H., L.GERMAIN, F.ROUSSEAU, "Strategic market making and risk sharing" in EFMA., 2010, Aarhus, Denmark
    link
  • BOCO, H., L.GERMAIN, F.ROUSSEAU, "Strategic market making and risk sharing" in Association française de finance., 2010, St Malo, France
    link
  • GALY, N., L.GERMAIN, "Media Coverage of Analysts' Recommendations and firm Share Prices" in ATINER., 2010, Athènes, Greece
  • GALY, N., L.GERMAIN, "Market competition and share prices: the case of the Airbus-Boeing duopoly" in The European financial management association., 2008, Athènes, Greece
    link
  • NALPAS, N., L.GERMAIN, A.VANHEMS, "Hedge funds performance appraisal: a comparison of different nonparametric approaches" in International Federation of Operational Research Societies (IFORS 2008)., 2008, Sandton, South Africa
    link
  • GABILLON, J.-C., L.GERMAIN, "Optimal Dynamic Financial Policy" in Conférence de l'AFFI., 2007, Bordeaux, France
  • NALPAS, N., L.GERMAIN, A.VANHEMS, "Hedge Funds Performance : A non Parametric Approach" in 47 ème Congrès de la SCSE., 2007, Québec, Canada
  • GALY, N., L.GERMAIN, "Product market competition and share value : the Airbus-Boeing duopoly" in Conférence de l'Association Française de Finance., 2007, Bordeaux, France
  • GALY, N., L.GERMAIN, "Product market competition and share value : the Airbus-Boeing duopoly" in Cahier de Recherche., 2007, Toulouse, France
  • GALY, N., L.GERMAIN, D.HILTON, R.MATHE, "Recommandations sur les titres, média et valeur de marché." in Congrès International AFFI (Association Française de Finance)., 2006, Poitiers, France
  • GERMAIN, L., F.ROUSSEAU, "Strategic Market Making and Risk Sharing" in European Financial Management Association Annual Meeting., 2006, Madrid, Spain
  • GERMAIN, L., F.ROUSSEAU, A.VANHEMS, "Optimistic and Pessimistic Trading in Financial Markets" in Conférence de l'European Financial Management Association., 2006, Durham, Great Britain
  • GALY, N., L.GERMAIN, D.HILTON, R.MATHE, "Recommandations sur les titres, média et valeur de marché." in Financial analysis : New challenges.., 2005, Boulogne sur Mer, France
  • GERMAIN, L., F.ROUSSEAU, "Strategic Market Making and Risk Sharing" in Paper accepted at the Australiasian Finance Conference., 2005, Sydney, Australia
  • DRIDI, R., L.GERMAIN, "Noise and Competition in Strategic Oligopoly", Groupe ESC Toulouse, 2004, Toulouse, France
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information", Les Cahiers de la Finance, 2004, Toulouse, France
  • GERMAIN, L., J.-F.VERDIE, J.-M.DECAUDIN, "L’Evaluation Financière de la Marque" Les ateliers de l’ANVIE. May 2003, Paris, France
  • GERMAIN, L., "Risk Averse Strategic Market Makers" June 2002, Strasbourg, France
  • DRIDI, R., L.GERMAIN, "Noise and Competition in Strategic Oligopoly", Groupe ESC Toulouse, 2001, Toulouse, France
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information", INSEAD, 2001, Paris, France
  • DRIDI, R., L.GERMAIN, "Noise and Competition in a Strategic Oligopoly" November 2001
  • DRIDI, R., L.GERMAIN, "Noise and Competition in a Strategic Oligopoly" Financial Markets Group Finance Seminar. June 2001, Londres, Great Britain
  • DRIDI, R., L.GERMAIN, "Noise and Competition in a Strategic Oligopoly" Western Finance Association, SFS,. June 2001, Tucson, Arizona, United States of America
  • DRIDI, R., L.GERMAIN, "Noise and Competition in a Strategic Oligopoly" American Finance Association. January 2001, New Orleans, United States of America
  • DRIDI, R., L.GERMAIN, "Bullish Bearish Non Linear Strategies of Trading" World Congress of the Econometric Society. August 2000, Seattle, United States of America
  • DRIDI, R., L.GERMAIN, "Bullish Bearish Non Linear Strategies of Trading" Finance Seminar. April 2000, Athens
  • GERMAIN, L., "Noise and Competition in a Strategic Oligopoly" June 2000, Toulouse
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information", London Business School, 2000, Londres, Great Britain
  • DRIDI, R., L.GERMAIN, "Noise and Competition in a Strategic Oligopoly" Finance Seminar. October 2000, Paris, France
  • GERMAIN, L., "Incentive Compatible Contracts for the Sale of Information" January 2000, Boston, United States of America
  • GERMAIN, L., "Bullish Bearish Non Linear Strategies of Trading" European Commission Conference. May 2000, Pompeu Fabra, Barcelona, Spain
  • GERMAIN, L., "High Speeds of Learning in Financial Markets", Association Française de Finance, 1999, Aix en Provence, France
  • GERMAIN, L., "Incentive Compatible Contracts for the Sale of Information" TMR Meeting, European Commission Conference. February 1999, Great Britain
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information", European University Institute of Florence, 1999, Florence, Italy
  • GERMAIN, L., "High Speeds of Learning in Financial Markets" in Oxford Finance Seminar., Oxford University, 1999, Oxford, Great Britain
  • GERMAIN, L., "High Speeds of Learning in Financial Markets", EEA (European Economic Association), 1999, Saint Jacques de Compostelle, Spain
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information", London Business School, 1999
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information", London School of Economics, 1999, Great Britain
  • GERMAIN, L., "Incentive Compatible Contracts for the Sale of Information" FMG Seminar. January 1998, Londres, Great Britain
  • GERMAIN, L., "Incentive Compatible Contracts for the Sale of Information" Séminaire d'Economie. 1998, Toulouse, France
  • GERMAIN, L., "Incentive Compatible Contracts for the Sale of Information" Finance Seminar. April 1998, Paris, France
  • GERMAIN, L., "Incentive Compatible Contracts for the Sale of Information" IFA Finance Seminar. April 1998, Londres, Great Britain
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information", Université de Lille, 1998
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information", Econometric Society European Meeting, 1998, Berlin, Germany
  • GERMAIN, L., "Strategic Noise in Competitive Markets for the Sale of Information" in European Economic Association., 1998, Berlin, Germany
  • GERMAIN, L., "Incentive Compatible Contracts for the Sale of Information" January 1997, Toulouse, France

Awards

  • 2012 : Honor Bronze Medal of Aeronautics
  • 2007- : Who's Who in the World
  • 2015 : Prize French Finance Association-Finance 2014
 

EXPERTISE

Teaching fields

  • CORPORATE GOVERNANCE
  • CORPORATE FINANCE
  • MARKET MICROSTRUCTURE
  • CAPITAL MARKETS
  • BEHAVIORAL FINANCE
  • NEURO FINANCE

Professional expertise

Editorial activities

  • Former Research Fellow (1996-1997) (London Business School)
  • Former Assistant Professor of Finance (1997-2000) (London Business School)
  • Professor (ISAE/SUPAERO)
  • Consultant (Major International Corporations)
  • Delegate MP (Institut Français des Administrateurs)
  • Member Task Force Finance (American Chamber of Commerce)
Read more

Academic associations

  • EDITOR RIMEFI
  • FORMER EUROPLACE INSTITUTE OF FINANCE RESEARCH FELLOW
  • WAS ELECTED AT THE BOARD OF DIRECTORS EUROPEAN FINANCIAL MANAGEMENT ASSOCIATION
  • Director Reseach Project on the Financial Crisis Luxembourg for Finance 2013
  • French Coordinator Siemens Financial Services Project Germany 2003
  • FORMER ESRC YOUNG SCHOLAR
Read more

Research contracts

  • English
  • French
Read more
 
Back to the directory ›