The EFIP axis team is composed of thirty permanent members and five guests. It is co-led by Olivier Lamotte Teacher-Researcher at ESG Management School and Joanna Etner, University Professor. The research fields of the Economic and Financial Performance team are articulated around two main themes which are the evolution of nations and companies in the global economy, financial performance and corporate governance.

Firm performances are also considered through a financial perspective, through corporate governance and stock market returns. The mechanisms of corporate governance indeed impact the value of companies. Several issues are discussed within this framework. What determines corporate defaults and what is its financial impact? What role does the economic and financial environment play in the creation of a mode of governance? What is the impact of the composition of the board on financial performance? What are the financial communication strategies of firms?
These questions are dealt theoretically from the agency theory and empirically from databases on the boards, firms communication or failures. The stock market performances are also considered with a view to building and managing a portfolio. How can we predict stock market returns?
Can we identify the co-movements between indices of emerging and developed countries?
These questions are dealt both theoretically and empirically.
All these questions are important from a scientific perspective but they are also of major interest for companies and governments.
The contribution of the ESG MS Research Lab team allows all those responsible for economic policy to maximize their decision making through a better understanding of risks and of ongoing transformations in the global economy.

Nations and firms are now facing deep changes in the global economy, which affect their behaviors. Two important developments are especially examined: the internationalization of economic activities and the increasing role of innovation in business strategies. This e internationalization trend is boosted by the integration of markets and the role of emerging countries in the global economy. This raises a number of issues.
How are business strategies affected by the economic environment of emerging markets? What is the impact of internationalization on business performance? To what extent are labor markets influenced by this ongoing process? How can we manage the macroeconomic imbalances inherent in this new world? These issues are treated by mobilizing both theoretical tools --new economic geography theory of international trade and foreign investment-- but also empirical tools by econometrically exploitating micro and macro-economic datas – spatial econometrics, panel econometrics and time series econometrics. The growing role of innovation is another trend in the global economy. In an increasingly competitive context, it has become one of the priorities of industrial policies. The mechanisms at work are complex and raise important questions. What is the impact of innovation on prices? How does innovation transform market structures?
What economic model for the intangible goods?
Do consumers comprehend the risks associated with innovative goods or services? Researches in that field are built on industrial economic models -- network economics, pricing dynamics-- but also bring empirical contributions from surveys data or numerical simulations.