Research Interest

Topics

Industries

Biography

Professor Patrick Gougeon is Director of the ESCP Europe London Campus. In the course of his career with the school he has occupied several positions in France and abroad. In Asia he was the Director of the School of Management at the Asian Institute of Technology (AIT, Bangkok, Thailand); in Paris he was the Director of MBA programmes.
Professor Gougeon has also contributed to the development of various international programmes, such as recently the MEBF (Master in Economics of Banking and Finance, Hanoi & Ho Chi Minh (Vietnam), an ESCP Europe/Paris Dauphine joint programme; he holds the position of academic co-director.
His research activities were first in the field of insurance and risk management. More recently he has also developed an expertise in the field of energy management with a particular focus on international project finance. Presently he is co-director of a Specialized Master programme in «Energy Management» launched in partnership with IFP school (Institut Français du Pétrôle) and BI Norwegian School of Management in Oslo.  

Current research

International Energy Projects: relevancy of traditional investment criteria and risk assessment methods?
Considering the level of funds to be invested in the development of energy supply in order to meet growing demand, and observing the difficulties and uncertainties major energy firms currently face (technological risks, geopolitical tensions, market volatility, enhanced competition) such that investment decisions are critical, it seems particularly important to reconsider the traditional valuation methods and decision criteria in order to avoid underinvestment that might lead to an energy supply crisis.

Applying ALM (Asset Liability Management) to the electricity company
The business of electricity companies has highly specific features: electricity cannot be strored, random and inelastic demand, cost uncertainty and marginal pricing. Basically, the firm is committed to provide electricity to its customers but cannot exactly predict the quantity (liability side) and also faces uncertainty on the supply side with access to internal and external capacity (asset side) under various and volatile cost conditions. In this context, the ALM approach, used mainly in the field of financial intermediation, seems most suited to specify optimal strategies and conditions to maintain the risk exposure at an acceptable level.

IFRS and « solvency 2 »: a cultural change for insurers
As a consequence of new international accounting standards ( IFRS) and capital adequacy (solvency 2) norms, insurance companies must adjust to dramatic changes in their operating framework and need to lead a genuine cultural evolution internally. These new norms refer to a strictly financial approach to insurance, based on a set of well accepted concepts and theoretical tools with which, however, most insurance managers are not quite familiar. Analysing the managerial impact of this regulatory transition is therefore essential before one can design a proper programme for these new rules to be well understood and accepted.

Insurance in emerging countries : issues and prospects
Insurance development is both a condition and a consequence of economic development. As such, this activity deserves particular attention in emerging countries. It is essential to establish an appropriate regulatory framework and to create all conditions for an efficient market. All these aspects are considered with reference to a group of emerging countries, starting with Vietnam and the support of CFVG (Centre Franco Vietnamien de Gestion ; Hanoi et Hochiminh) where the MEBF (Master of Economics of Banking and Finance) was recently launched.

Publications