Announcing the winners of the 2025 IEF Scholarship

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The Europlace Institute of Finance announces the winners of the 2025 edition of its research grant. The selected projects are distinguished by the variety of approaches used and by the diversity of the themes addressed, reflecting the evolution of current questions in finance.

Themes at the heart of contemporary financial challenges

The selected works cover a broad spectrum, including:

• the analysis and transparency of ESG data,
• geopolitical and macro-financial risks,
• climate issues and their economic implications,
• behaviors in insurance and savings,
• the contribution of artificial intelligence, generative methods and stochastic models to financial problems.

This variety reflects the growing interest in interdisciplinary approaches and in tools to better understand risks, markets, and behaviors.

Support to accompany promising research

The objective of this call for projects is to provide support for work that can contribute in a rigorous and documented manner to the analysis of transformations in the financial sector. The laureates will receive support allowing them to continue or deepen their research in this framework.

The funded projects will give rise to scientific productions that will gradually be made available to the public. Moments of exchange will also allow researchers to present their results and their advances.

Full list of winning projects and authors

• Uncover greenwashing: AI at the service of ESG transparency
Hamza Bennani (Nantes University), Samuel Ligonnière, Inessa Benchora (University Paris-Saclay)

• Measuring and preventing ESG risks in Europe: integrating qualitative and quantitative data through artificial intelligence
Jean-Michel Sahut (IDRAC Business School)

• Robo-Advising under the Veil of Ignorance
Milo Bianchi (Toulouse School of Economics), Elena Asparouhova (University of Utah), Debrah Meloso (TBS Business School)

• Volterra Processes for Advanced Credit Risk Modeling: CVA and XVA Computation and Numerical Approximation
Ahmed Kebaier (University of Évry — Paris-Saclay), Christa Cuchiero (University of Vienna), Sergio Pulido (ENSIIE — Université Paris-Saclay)

• Climate-linked Executive Pay and Carbon Emission Reduction: Worldwide Evidence
Tinghua Duan (EDHEC Business School), Mary Lee (ESSEC Business School)

• Life Insurance Policyholder Surrender (LIPS)
Pierre Thérond, Haris D. Happi (ISFA — Claude Bernard Lyon 1 University)

• Measuring and Pricing Firm-Level Geopolitical Exposure Risk
Selim Mankaï (IAE Rouen Normandy), Martin Boyer (HEC Montreal), Martin Boyer (HEC Montreal), Amal Aouadi (IAE Lille — University of Lille), Libo Ren (University of Paris-Panthéon-Assas)

• Climate Risk and Defence Finance: Minimum Social Safeguards in European Capital Markets
Paola D'Orazio (IESEG School of Management)

• Agro-climate risk management, insurance/protection trade-off and innovation in the context of climate change: theoretical analyses and experimental economics
Sandrine Spaeter (University of Strasbourg), Anne Rozan (ENGEES)

• Stochastic and Generative Approaches to Market Microstructure, Liquidity Formation and Impact Dynamics
Vathana Ly Vath (ENSIIE — University of Évry — Paris-Saclay), Cristina Di Girolami (University of Bologna), Yadh Hafsi (École Polytechnique)

Follow-up and additional information

You can follow us to be informed of the progress of the work carried out by the winners of this edition.
Projects from previous years are also available on the page dedicated to IEF grants.

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