EDHEC Business School (French: Ecole des Hautes Etudes Commerciales du Nord) is a French grandes écoles business school with campus locations in: Lille, France; Nice, France; Paris, France; London, UK; and Singapore. EDHEC offers its flagship Master in Management, MSc International Finance, MBA and EMBA programs, specialised MSc programs, PhD program and executive education. In 2019, EDHEC had 8,600 students enrolled in traditional graduate and undergraduate programmes, 245 exchange and double-degree agreements with many academic institutions and a network of more than 40,000 alumni in over 125 countries.EDHEC holds the triple accreditation from EQUIS, AACSB and AMBA.
ABSTRACT This paper surveys infrastructure project finance and investment management through the organizing concept of bankability. It explains how long‐lived, capital‐intensive and politically exposed infrastructure assets are transformed into financeable projects and investable claims through special‐purpose vehicles, contractual risk allocation, cash‐flow controls, public support, credit structuring and capital recycling. The survey connects project‐finance practice with economic questions in incomplete contracting, public‐private risk sharing, financial intermediation, institutional investment, energy transition and ESG risk management. It argues that infrastructure finance is best understood not as a simple public‐versus‐private funding choice, but as a system for allocating construction, revenue, political, operating, currency, refinancing and ESG risks to parties able to manage, absorb or price them. The paper concludes with a research and practitioner agenda on bankability measurement, debt capacity, secondary markets, blended finance, and climate‐resilient infrastructure investment.
ABSTRACT This article summarizes the evolution of portfolio theory from mean–variance optimization to AI‐augmented investment systems. Rather than treating portfolio models as isolated techniques, it organizes the literature as a sequence of responses to different forms of uncertainty: variance, systematic risk, expected‐return estimation error, downside risk, tail loss, parameter ambiguity, risk‐budgeting instability, conditional volatility, regime dependence, high‐dimensional prediction, and AI governance. Combining a systematic literature review, public‐metadata bibliometric analysis, and thematic synthesis, the article covers leading academic journals and practitioner‐oriented outlets, including JF, JFE, RFS, RF, JFQA, Management Science, FAJ, JPM, FMPM, and JAM. The survey highlights how classical portfolio theory, CAPM and multifactor allocation, Bayesian/Black–Litterman models, CVaR, robust optimization, risk parity, volatility management, regime‐switching allocation, parametric portfolio policies, machine learning, and LLM‐based agents form a cumulative intellectual architecture. The article is designed as a compact roadmap for doctoral students, academic researchers, and quantitative researchers in hedge funds and asset management who seek a rapid but rigorous understanding of how portfolio theory has evolved and how its core problems remain relevant in the AI era.
At a time when calls for the EU to respond to Musk’s provocations multiply, critical questions about whether, why, and how the EU may react remain largely unanswered. Musk’s conduct, which spans sectors as diverse as social media (X, formerly Twitter), AI (xAI), satellite technology (Starlink), space rockets (SpaceX), and electric vehicles (Tesla), pose unique challenges to existing legal frameworks. His multi-industry influence gives rise to profound questions about the limits of individual influence and power accumulation in a complex geopolitical landscape.
La présente étude examine la gouvernance interne des caisses de retraite marocaines en évaluant l’impact de leurs caractéristiques (structurelles, démographiques et financières) sur l’efficacité de leur conseil d’administration. Une approche quantitative hypothético-déductive a été suivie, combinant une revue de littérature sur la gouvernance des fonds de pension et une étude empirique longitudinale sur 20 ans (2000–2020) portant sur quatre caisses de retraite (CNSS, CMR, RCAR, CIMR) gérant conjointement sept régimes. Un indice composite inédit – l’Indice de Gouvernance des Caisses de Retraite Marocaines (IGCM) – a été élaboré pour mesurer l’efficacité du conseil d’administration de chaque caisse. Les résultats des régressions montrent que la taille de la caisse est le facteur déterminant principal de l’efficacité du conseil, devant d’autres variables explicatives telles que la forme juridique (statut public/privé), l’âge de la caisse et le mode de gestion financière. En particulier, les caisses de plus grande taille affichent des conseils plus efficaces et performants dans leurs dimensions d’intégrité, d’engagement et de compétence. L’étude contribue à combler le manque de recherches sur la gouvernance des fonds de pension hors des pays anglo-saxons, en proposant un cadre théorique et un outil de mesure adaptés au contexte marocain, avec des implications pour le renforcement de la gouvernance des retraites.
At a time when calls for the EU to respond to Musk’s provocations multiply, critical questions about whether, why, and how the EU may react remain largely unanswered. Musk’s conduct, which spans sectors as diverse as social media (X, formerly Twitter), AI (xAI), satellite technology (Starlink), space rockets (SpaceX), and electric vehicles (Tesla), pose unique challenges to existing legal frameworks. His multi-industry influence gives rise to profound questions about the limits of individual influence and power accumulation in a complex geopolitical landscape.
