Author Archives: Raphaël ROERO DE CORTANZE

Could the 2008 financial crisis been foreseen?

Could the 2008 financial crisis been foreseen? In September 2008, the bankruptcy of Lehman Brothers broke the news and disclosed to the public what would become the biggest financial crisis since 1929. This crisis, fuelled by the speculation around ill-rated … Continue reading

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Stock split

Stock split In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Grande Ecole Program – Master in Management, 2018-2022) introduces the specificities of stock splits. Stock split What a stock split? A stock split is a decision by a … Continue reading

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How does the stock price of a firm change according to the shift of its capital structure?

How does the stock price of a firm change according to the shift of its capital structure? In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Master in Management, 2018-2022) analyses the effects of the shifts of capital structure on … Continue reading

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Dividend policy

Dividend policy In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Master in Management, 2018-2022) analyses the effects of dividend policy on the stock price. What is a dividend? Firms that generate earnings through their activities must choose between … Continue reading

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Credit Rating Agencies

Credit Rating Agencies In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Grande Ecole Program – Master in Management, 2019-2022) explains how credit rating agencies work. What are Credit Rating Agencies? Credit Rating Agencies are private companies whose main … Continue reading

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The Internal Rate of Return

The Internal Rate of Return In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Grande Ecole Program – Master in Management, 2019-2022) explains the financial concept of internal rate of return (IRR). What is the Internal Rate of Return? … Continue reading

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Why was 2020 a record year in terms of financial market returns?

Why was 2020 a record year in terms of financial market returns? 2020: a year of all records The year 2020 has been the scene of the greatest economic downturn since the Great Depression and the fastest market collapse on … Continue reading

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Inflation & deflation

Inflation & deflation In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Master in Management, 2018-2022) describes the main mechanisms at the origin of inflation and deflation episodes, providing historical examples. Inflation Definition Inflation is a movement of increase … Continue reading

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Gamestop: how a group of nostalgic nerds overturned a short-selling strategy

Gamestop: how a group of nostalgic nerds overturned a short-selling strategy In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Grande Ecole Program – Master in Management, 2019-2022) talks about the Gamestop case which has shaken up Wall Street … Continue reading

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How do "animal spirits" shape the evolution of financial markets?

How do “animal spirits” shape the evolution of financial markets? In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Grande Ecole Program – Master in Management, 2018-2022) explores the concepts of rationality of economic agents and animal spirits to … Continue reading

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Could the COVID-19 debt be wiped out?

Could the COVID-19 debt be wiped out? In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Master in Management, 2018-2022) discusses the current debate surrounding the cancellation of the covid debt. In March 2020, the French President Emmanuel Macron … Continue reading

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How has the 21st century revolutionized financing methods?

How has the 21st century revolutionized financing methods? In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Master in Management, 2018-2022) explains how the 21st century revolutionized financing methods. In The Crisis in Keynesian Economics (1974), the British economist … Continue reading

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What is an Institutional Investor?

What is an Institutional Investor? In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Grande Ecole Program – Master in Management, 2018-2022) explains what is an institutional investor. What do an investment management firm like BlackRock, a Pension Fund … Continue reading

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What is an Activist Investor?

What is an Activist Investor? In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Master in Management, 2018-2022) explains what is an activist investor. What is an Activist Investor? Activist Investors regularly make the headlines. In March 2021, Emmanuel … Continue reading

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In the shoes of a Corporate M&A Analyst

In the shoes of a Corporate M&A Analyst In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Master in Management, 2018-2022) shares his experience as a Corporate M&A Intern. My internship at Scor In 2020 as an intern, I … Continue reading

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Veolia and Suez: the epitome of a hostile takeover bid

Veolia and Suez: the epitome of a hostile takeover bid In this article, Raphaël ROERO DE CORTANZE (ESSEC Business School, Master in Management, 2019-2022) details the Veolia-Suez saga. Since August 30, 2020, when Engie put its 29,9% stake in Suez … Continue reading

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