Central bankers have recently been under considerable pressure. They responded to the recent surge in inflation with rate hikes that not only raised concerns about economic growth but also increased the cost of issuing new public debt, constraining fiscal policy and potentially making some public debt unsustainable.
By Eric Mengus
Many studies have attempted to estimate the potential effects of technological change on employment and the labor market in France. In March 2024, Emmanuel Macron received the first report from the Committee on Generative Artificial Intelligence, which partly utilizes the recent study by HEC economics professor Antonin Bergeaud. The report concludes that jobs directly replaceable by AI would only represent 5% of the jobs in a country like France, and automation could affect between 10% and 20% of workers, with a high prevalence among managers. In this article, we present the results of these analyses in context.
By Antonin Bergeaud
Our podcast series, Breakthroughs, dedicates a special episode to the launch of a new elective on sports and commerce for students. Titled “Sport & Business,” this six-month program includes theoretical work followed by fieldwork in partnership with the French professional football club Racing Club de Lens. Professor Luc Arrondel oversees the academic content of the elective. This researcher shares his pedagogical approach centered on the economics of football. In the second part of the podcast, we follow the first gathering of the Sports Economy Summit titled Sport Definition. HEC leaders, students, and alumni attended sessions dedicated to the school's research, teaching, and actions in this flourishing sector.
This special edition of the Knowledge@HEC review focuses on the Earth’s planetary boundaries. The issue highlights HEC Paris' approach toward organizational, environmental, and societal challenges linked to the nine planetary boundaries within which humanity can develop for generations to come. The review showcases research and initiatives aimed at informing and empowering businesses, policymakers, and future leaders. We highlight the multidisciplinary approaches in the school's research, teaching, and action, inviting HEC Paris students, graduates, professors, entrepreneurs, and donors to share their visions of a more sustainable future. "Aligning Business with Planetary Boundaries" will be officially launched at the HEC Climate Day on May 22. Meanwhile, you can find the pdf here.
For a long time, addressing sustainability problems has been regarded as a technological challenge. Today, supporting the transition to a more sustainable world has transcended this technological status and emerged as a quintessential management, economic, and behavioral challenge. Within this realm, research in social sciences and management assumes a pivotal role, offering insights across various crucial dimensions of the transition.
At HEC Paris, the integration of research, teaching, and action is a fundamental philosophy that we embody. In today's dynamic landscape, where environmental and social challenges are increasingly prominent, HEC serves as a beacon of innovation and responsibility. As Europe's leading business school, we acknowledge our responsibility to guide future leaders in navigating the complexities of a world in flux.
HEC Paris undergoes a transformative shift in its curriculum. Building on its legacy of sustainability initiatives, the institution now prioritizes planetary boundaries and societal impact. The updated curriculum emphasizes sustainability integration and student empowerment for real-world impact. This reflects HEC's dedication to nurturing leaders prepared to address modern challenges.
Artificial Intelligence is revolutionizing all fields of business, forcing academics and practitioners to revise their fundamentals. To discuss these new challenges, HEC Associate Professor Carlos Serrano and his colleague Thomas Åstebro organized a groundbreaking workshop inviting some of the world’s top researchers to compare their approach to those of leading industrialists. In our latest Breakthroughs, we discuss some of the takeaways with Serrano, an academic in the school’s Department of Economics and Decision Sciences.
How to find a balance between executives and employees' objectives to attract and retain talents? How to show legitimacy and trust to align with citizens' values in a time of conflicts? What is the good timing to leave a company? Understanding these multifaceted questions is key for navigating the talent competition and fostering personal career growth. Today, students seek ethical employers, while employees yearn for deeper meaning in their work. Simultaneously, governments and consumers closely examine firms' practices throughout the supply chain. In this edition, researchers from diverse fields offer insights and business cases gleaned from their investigations.
These days, workers at management consulting, investment banking, accounting, and law firms tend to be as interested in their career paths as they are in their salaries—which often means jumping from one firm to another in pursuit of better opportunities. But their career paths and motivation can be powerfully influenced by what sort of tasks an employer assigns to them. A study by Raphaël Lévy, Associate Professor of Economics and Decision Sciences at HEC Paris, and his colleague Heski Bar-Isaac, Professor in the Joseph L. Rotman School of Management at the University of Toronto, explores how these firms’ task allocation strikes a balance between producing value for the business and offering workers opportunities to prove their talent. Three key findings: • “Lose it to use it”: To attract and motivate employees, employers sometimes sell their jobs as springboards to a great career even outside the firm. • Employees are motivated to perform when granted exposure on the labor market and when assigned to tasks allowing them to showcase their skills. • Different human resources policies coexist: some firms consent to high exposure to their employees to boost their professional advancement, others, more concerned with employee retention, offer flatter career paths.
By Raphaël Levy
