In this article, Anis MAAZ (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2023-2027) explains how prop firms work, from understanding their business model and evaluation processes, to fee structures and risk management rules. The goal is not to promise guaranteed profits, but to provide a transparent, realistic overview of how proprietary trading firms … Read more
In this article, Dawn DENG (ESSEC Business School, Global Bachelor in Business Administration (GBBA), Smith-ESSEC Double Degree Program, 2024-2026) offers a practical introduction to building a beginner-friendly stock pitch—from selecting a company you truly understand, to structuring the investment thesis, and translating logic into valuation. The goal is not to produce “perfect numbers,” but to … Read more
In this article, Samuel BRAL (ESSEC Business School, Global BBA – Exchange at NUS, 2025) shares how he conducted a valuation of Best World International using a Discounted Cash Flow model in Excel. This modeling exercise was part of a corporate finance case during his exchange at the National University of Singapore. Context of the … Read more
In this article, Rohit SALUNKE (ESSEC Business School, Grande Ecole Program – Master in Management, 2018-2021) shares his professional experience as Head of Data Modelling, leading advanced analytics, AI, and reporting solutions for a global investment organisation. About the company Tikehau Capital is a global alternative asset management group headquartered in Paris, France. Founded in … Read more
In this article, Rohit SALUNKE (ESSEC Business School, Grande Ecole Program – Master in Management, 2018-2021) shares his professional experience as Business & Data Analyst at Tikehau Capital. About the company Tikehau Capital is a global alternative asset management group headquartered in Paris, France. Founded in 2004, it has become a multi-billion-euro investment house with … Read more
In this article, Snehasish CHINARA (ESSEC Business School, Grande Ecole Program – Master in Management, 2022-2025) explores the academic evolution of capital structure theory, focusing on the delicate balance between debt and equity financing. Starting from the foundational Modigliani and Miller propositions, this post delves into how the introduction of real-world frictions—particularly bankruptcy costs and … Read more
In this article, Snehasish CHINARA (ESSEC Business School, Grande Ecole Program – Master in Management, 2022-2025) explores the optimal capital structure for firms, which refers to the balance between debt and equity financing. This post focuses on how the impact of personal taxes on the firm capital structure. The author unpacks Miller’s 1977 proposition, which … Read more
In this article, Snehasish CHINARA (ESSEC Business School, Grande Ecole Program – Master in Management, 2022-2025) explores the optimal capital structure for firms, which refers to the balance between debt and equity financing. This post dives into the article written by Modigliani and Miller (1963) which explores the case of corporate tax and a frictionless … Read more
In this article, Annie YEUNG (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – Exchange Student, 2025) shares her summer internship experience at Partner Plus Investments Limited as the Junior Analyst. About the company Partner Plus Investments Limited is an asset management company particularly focusing on fund of funds company. Partner plus investments limited … Read more
In this article, Annie YEUNG (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – Exchange Student, 2025) shares her experience as an Audit Summer Intern in KPMG, as well as the details of what working in audit may be like, and the necessary skills and goals if one wishes to develop a career in … Read more
In this article, Mahe FERRET (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2022-2026) explains the appeal and challenges of behavioral finance when investing. Introduction Behavioral finance is a psychological and economic finance field that allows us to understand how investors – individuals and institutions – make financial decisions. Unlike traditional finance, which assumes … Read more
In this article, Alexandre GANNE (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2025) shares his professional experience as Depositary Control Auditor at CACEIS Bank. About the company CACEIS Bank is a leading European financial institution specializing in asset servicing. A subsidiary of Crédit Agricole and Santander, CACEIS provides custody, depositary, and fund administration … Read more
In this article, Mathias DUMONT (ESSEC Business School, Global Bachelor in Business Administration (GBBA), 2022-2026) explains how weather risk impacts the pricing of agricultural derivatives like futures and options, and how climate-based data can be integrated into stochastic pricing models. Combining academic insights and practical examples, including a mini-case from the SimTrade Blé de France … Read more
In this article, Adelaide RIDER-NICHOLSON (ESSEC Business School, Global Bachelor in Business Administration (GBBA) – Exchange Student, 2025) shares their internship experience with the Government of Canada at the Ministry of Citizenship and Multiculturalism. They explore the structure of the Ministry, its mandate, and their involvement in policy research and community engagement projects. About the … Read more
In this article, Snehasish CHINARA (ESSEC Business School, Grande Ecole Program – Master in Management, 2022-2025) explores the optimal capital structure for firms, which refers to the balance between debt and equity financing. This post dives into the article written by Modigliani and Miller (1958) which explores the case of no corporate tax and a … Read more
In this article, Snehasish CHINARA (ESSEC Business School, Grande Ecole Program – Master in Management, 2022-2025) explores the vital difference between solvency and insolvency—where solvency signals long-term financial health, and insolvency marks a tipping point of distress. Understanding this divide is key to assessing corporate resilience and recovery. Introduction to Solvency and Insolvency Solvency refers … Read more
In this article, Snehasish CHINARA (ESSEC Business School, Grande Ecole Program – Master in Management, 2022-2025) delves into liquidity and illiquidity, key concepts in the corporate world. Liquidity and Illiquidity Definitions Liquidity is an important economic concept that can be applied to individuals, companies and financial institutions. In this article, we deal with liquidity at … Read more
In this article, Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024) delves into Retained Earnings, providing a comprehensive analysis on type of retained earnings, explaining its theoretical foundations, discussing the other financial metrics compared to it, its valuation and limitations. Introduction Retained Earnings (RE) represent the portion of a … Read more
In this article, Nithisha CHALLA (ESSEC Business School, Grande Ecole Program – Master in Management (MiM), 2021-2024) delves into Dividends, providing a comprehensive analysis on type of dividends, explaining its theoretical foundations, discussing the policy strategies, its valuation and limitations. Introduction Dividends are a fundamental component of shareholder returns, representing a direct distribution of a … Read more