Like many other sectors, the world of transportation is experiencing a period of profound disruption. From the sharing economy to mobility-as-a-service, autonomous vehicles to solid state batteries, new technologies, business models and social trends are transforming the way passengers and freight travel. Olivier Gallay, Assistant Professor at HEC Lausanne and an expert in operations research, explains how his work in transport optimization is helping to shape the future of transportation.
Using environmental, social, and governance (ESG) scores of firms belonging to the MSCI World universe, we measure the impact of score-based exclusion on both passive investment and smart beta strategies. We find that exclusion leads to improved scores of otherwise standard portfolios without deterioration of their risk-adjusted performance. Smart beta strategies exhibit a similar pattern, often in a more pronounced way. Moreover, our results demonstrate that exclusion also implies regional and sectoral tilts as well as (possibly undesirable) risk exposures of the portfolios.
As an academic and lawyer specializing in taxation, Pierre-Marie Glauser was closely involved in the corporate tax reform campaign in Switzerland that culminated in the referendum held on May 19th. An advocate of the proposed reforms, Glauser was a member of a number of working groups involved with the reforms and gave presentations at various conferences on the implications of accepting or refusing the reforms. Here he discusses the government backed provisions approved by 64.4% of Swiss voters on May 19th and their impact.
Guido Palazzo, professor of business ethics, highlights a case where entrepreneurial ingenuity has turned environmentally and socially toxic, threatening the health and economic welfare of thousands of people living and working in Italy.
After nearly three years of negotiations, Brexit is proving a seemingly intractable problem, with all routes out of the EU looking costly for the UK. With emotions running high, opinions polarised, and reasoned argument often elusive, maybe a risk management perspective can offer some useful insights, suggests Professor Anette Mikes (HEC Lausanne, UNIL).
Marketers are well aware that social media sites can play a role in influencing consumers, whether it is through product endorsement or building customer loyalty, for example. However, research by Christian Hildebrand and Tobias Schlager suggests that the effect of Facebook on consumers is both more subtle and powerful than commonly realized. They demonstrate that merely browsing this social media site has a significant impact on subsequent consumer decision making.