On Monday 14 September, Frank Bournois (Dean, ESCP Europe), Patrick-Hubert Petit (Associate, KPMG France) et Patrick Gounelle (President of ESCP Europe Foundation) signed the Professorship in "International Corporate Governance".
KPMG is among ESCP Europe’s pioneering and emblematic partners. As reiterated by Patrick Gounelle, KPMG was the first company to sign a Chair with ESCP Europe. It is also the first to set up a Professorship.
The ceremony of 14 September was an opportunity to admire the work of the "Governance, Strategy, Risks and Performance" Chair.
Delphine Manceau, Director of ESCP Europe Corporate Division, undertook a review of 8 years of collaboration.
Under the management of Frédéric Fréry, Professor at ESCP Europe, the Chair carried out research – both theoretical and applied – on the integration of risk and performance management into company strategy.
A Chair which has been highly active in financing multicampus research.
The research of 41 professors, that is almost a third of the faculty, has been supported! 2 doctoral theses, 8 academic articles, 1 book, 24 communications, 3 videos, 1 case study have been published and 6 conferences/debates attended by over 500 people have been organised. (To find the last conference organised by the Chair).
The Chair supported
- final dissertations of students (identification of suitable contacts in the field, support of experts, participation in juries). 86 research dissertations involving 118 students and 44 professors benefitted from this scheme, and 13 dissertations won prizes.
- expert guest speakers in ESCP Europe programmes
Each year the KPMG Prize for best final dissertation is awarded. In 2014, it was won by René-Jean Corneille for his “Volatility Hedging: Are Volatility Options the Better Hedging Instruments?” under the supervision of Professor Philippe Spieser.
The Chair becomes "Professorship"
Enriched by this unique relationship forged over 8 years, ESCP Europe and KPMG, due to the new challenges relating to corporate governance issues, particularly on a European level, wished to review the terms of their partnership by creating a three year Professorship in International Corporate Governance. David Chekroun, ESCP Europe Professor, is its Academic Director.
A new stage has begun with a new format and a new central theme: international corporate governance.
By signing this Professorship, KPMG has shown its desire to continue its investment in the field of international corporate governance.
For many years, KPMG has operated in the field of governance, either as auditor or consultant. Patrick-Hubert Petit believes that governance is a facilitating factor from a societal perspective and guarantees a stronger economy. He was therefore pleased that the Professorship in “International Corporate Governance” should complete the tripartite scheme set up by KPMG:
- The KPMG Audit Committee Institute, present in 30 countries, organises a forum for exchange for audit committee members aimed at providing them with information, tools and techniques to help them accomplish their work.
- Since January 2014, KPMG has published the Letter of Governance designed to give all members of administrative and supervisory boards, branches and functional departments of the companies, the information regarding reports, studies and publications on corporate governance that they require to carry out their work.
- KPMG in addition has an active presence within the IFA (especially in the "Club for Research in Governance" and the "Club of Audit Committee Presidents").
International corporate governance is a major challenge for companies. It is a constantly evolving domain and is increasingly scrutinised by investors, public authorities, media, employees and other stakeholders. ESCP Europe wished be involved in this and it was natural that Frank Bournois, as Director General and also co-author of "Executive Committees: Journey to the heart of management" (Editions Eyrolles) was particularly keen that this Professorship come into being.
In this context, research and teaching will be produced. International governance rising to the challenge of the digital economy; international Groups and the extraterritoriality of compliance rules; Women on board... are all already included in the David Chekroun’s "roadmap". A MOOC project is also on the agenda...
Underlining the high tension to which the theme of governance is subject (development of standardisation and regulation versus reluctance of new generations and transformation of the relationship to governance), David Chekroun is keen to start the first projects. Meet us 10th December for the inaugural conference!
