Our school has been ranked seventh out of 58 for its commitment to the ecological transition. The accolade came in the second edition of ChangeNOW/Les Echos START 2022 ranking for Corporate Social Responsibility.

TBS Education is pioneer in this field and holder of the SD&CSR (Sustainable Development and Corporate Social Responsibility) label. We have been involved in the fields of sustainable development (SD) and Corporate Social Responsibility (CSR) since 2007.

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TBS EDUCATION, A MISSION-DRIVEN COMPANY

“Through research with societal impact, TBS Education trains a diversity of open-minded actors who will be able to contribute to a responsible and sustainable economy within their own organizations “. – TBS Education’s vision

Our school became a mission-driven company in 2021. Our vision is now enshrined in our charter and reflects our social, societal, and environmental commitments to a more sustainable and responsible economy that underpins a positive society.

OUR SCHOOL RANKED FIRST IN 2 OUT OF 6 CATEGORIES

With a total of 112 points out of 161, our school was ranked 1st in 2 categories: alumni network and the institution’s strategy and exemplary nature. This is a significant recognition of the efforts made in recent years in terms of ecological and social transition.

The 6 themes of the ranking:

  • Alumni network: 

TBS Education: 1st with 12 points (out of 12)

  • The institution’s strategy and exemplary character: 

TBS Education: 1st with 17 points (out of 18)

  • Diversity and equal opportunities:

TBS Education: 5th with 20 points (out of 29)

  • Academic excellence and employability: 

TBS Education: 8th with 20 points (out of 28)

  • High-density impact of the program: 

TBS Education: 14th with 33 points (out of 72)

  • Involvement of student associations: 

TBS Education: 14th with 10 points (out of 15)

SURVEY: STUDENTS IN MASTER’S IN MANAGEMENT SCHOOLS AND UNIVERSITIES PROGRAMS IN 2022

Our school is in the top five business schools for commitment to Corporate Social Responsibility (CSR). That’s according to a survey of more than 10,000 students and recent graduates. It was conducted by Harris Interactive & Toluna with L’Etudiant and Epoka: Students in Master’s in Management Schools and Universites programs.

The schools’ performance was defined according to a global index that includes 4 criteria:

  • The importance of CSR in the choice of an employer
  • The school’s contribution to sustainable development
  • The school’s perception of CSR

Awareness of the humanitarian efforts made in the context of the conflict in Ukraine. This ranking is therefore a clear endorsement of our school’s commitment to ecological and societal transition.

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TBS EDUCATION, A MISSION-DRIVEN COMPANY

“Through research with societal impact, TBS Education trains a diversity of open-minded actors who will be able to contribute to a responsible and sustainable economy within their own organizations.” – TBS Education’s vision

Our school became a mission-driven company in 2021. Our vision is now enshrined in our charter and reflects our social, societal, and environmental commitments to a more sustainable and responsible economy that underpins a positive society.

OUR MASTER’S IN MANAGEMENT PROGRAM IN TOP 10 IN TERMS OF DIVERSITY

Our Master’s in Management program is ranked 67th in the prestigious QS Business Masters Rankings 2023. It is also among the 147 best business schools worldwide, and 10th in terms of diversity. TBS Education wishes to reinforce its international openness by considering environmental issues, and aims to become an even more inclusive school in terms of social openness and disability.

“In addition to the 5-place rise of the Master’s in Management program in this international ranking, I am particularly proud to be in the world’s top 10 on this diversity criterion. This reflects both the gender balance in our classrooms and the great diversity of nationalities among the professors and students who work together in our campuses in Toulouse, Barcelona, Paris and Casablanca.” – Anne Rivière – Director of the Master’s in Management and MSc programs

National Student Conference on Sustainable Development 2022

For this 17th edition of the National Student Conference on Sustainable Development (ANEDD), on Tuesday, December 6 and Wednesday, December 7, 2022, the topic chosen is “CSR: how to act in business? Come and meet our committed graduates!”

The objective of this event is to help students discover how companies incorporate social and environmental issues into their organization and decision-making.

Which business schools stand out in the field of Corporate Social Responsibility (CSR)? ChooseMyCompany published its HappyIndex® AtSchool CSR Ranking which studies the CSR impact and the integration of sustainable development in the strategy of the schools. Our school has achieved 4th place in this ranking of French business schools.

TBS EDUCATION IS NUMBER FOUR AMONG BUSINESS SCHOOLS

A pioneer in this field and holder of the SD&CSR (Sustainable Development and Corporate Social Responsibility) label, TBS Education has been involved in the fields of sustainable development and corporate social responsibility since 2007.

Our school became a mission-driven company in 2021. Our vision is now enshrined in our charter and reflects our social, societal, and environmental commitments to a more sustainable and responsible economy that underpins a positive society.

“Through research with societal impact, TBS Education trains a diversity of open-minded actors who will be able to contribute to a responsible and sustainable economy within their own organizations.” – TBS Education’s vision

Taking fourth place in the HappyIndex® AtSchool CSR ranking is a strong endorsement of our school’s commitment to these issues.

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A RANKING BASED ON STUDENTS’ OPINIONS

A total of 43,795 students from 860 schools, universities and CFA apprentice training centers were interviewed for this major HappyIndex®AtSchool 2022 ChooseMyCompany survey. Of the 20 questions in the HappyIndex®AtSchool questionnaire, 7 questions deal directly with CSR issues and cover the following aspects:

  • Students are environmentally aware
  • The school is committed to a green approach
  • Societal and environmental issues are integrated into the teaching
  • In my school, behavior is exemplary
  • The school reflects the diversity of the society in which we live
  • The school seeks to develop a network of partner companies that wish to have a positive impact on the environment and/or society
  • The school prepares students to have a positive impact on the world of tomorrow

This special CSR ranking focused on scoring these 7 questions to create a specific index.

National Student Conference on Sustainable Development 2022

For this 17th edition of the National Student Conference on Sustainable Development (ANEDD), on Tuesday, December 6 and Wednesday, December 7, 2022, the topic chosen is “CSR: how to act in business? Come and meet our committed graduates!”

The objective of this event is to help students discover how companies incorporate social and environmental issues into their organization and decision-making.

The Finance Crowd Analysis Project is offering an unrivaled meta-scientific view in empirical Finance. 164 research teams worked on this project, an exceptional number in this field. It involved researchers from 207 institutions and 34 countries including central bank economists.

2 TBS Education associate professors involved in #fincap

Two TBS Education associate professors, Anna Calamia and Debrah Meloso, are co-authors of the research paper Non-standard-errors coming from Fincap. Anna and Debrah are professors in the department of Economics and Finance and are affiliated to the Finance, Economics, and Econometrics research laboratory at TBS Education. Their research has focused on the functioning of financial markets and they are engaged in several other projects together.

The first crowd-sourced empirical paper in Economics/Finance

Have you ever wondered whether researchers using the same data set to address a unique research question would come to the same conclusions? Fincap tried to answer this complex question.

This innovative project attracted eminent researchers, including some from the most prestigious French finance department. Fincap was run by project coordinators Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Albert J. Menkveld, Sebastian Neusuess, Michael Razen, and Utz Weitzel from the Stockholm School of Economics, the University of Innsbruck, and the Vrije Universiteit Amsterdam.

Abstract

In statistics, samples are drawn from a population in a data-generating process (DGP). Standard errors measure the uncertainty in sample estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence-generating process (EGP). We claim that EGP variation across researchers adds uncertainty: non-standard errors. To study them, we let 164 teams test six hypotheses on the same sample. We find that non-standard errors are sizeable, on par with standard errors. Their size (i) co-varies only weakly with team merits, reproducibility, or peer rating, (ii) declines significantly after peer-feedback, and (iii) is underestimated by participants.

TBS Education’s Inspiring Guest project is in the spotlight for its innovative approach to teaching finance. After winning the Best Session Award at the AOM Teaching and Learning Conference and the Best Innovation Strategy Award from AMBA, it has been awarded the FMA Innovation in Teaching Award!

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2021 FMA Innovation in Teaching Award

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The Financial Management Association International‘s (FMA) Innovation in Teaching Award was created to recognize inspiring educators, improve the quality and relevance of education in finance and spread successful innovative practices. This international competition is open to any educator who teaches undergraduate or graduate students in finance.

The finalists are selected by a committee based on 3 criterias:

  • Innovation
  • Broad transferability of the teaching technique in terms of resources and instructor skills/connections
  • Measurable impact on students, institutions of higher education, and the finance profession

David Stolin, co-founder of TBS Education’s Inspiring Guest program with Elie Gray, received the 1st prize for their project “Teaching finance through short humorous videos made in collaboration with a comedian”.

Injecting humor into teaching finance

TBS Education is constantly exploring unconventional teaching methods, favoring pedagogical innovation for the benefit of its students. The Business School offers a wide range of technics to acquire knowledge and prepare for the business world. By offering an innovative approach to teaching, we capture students’ attention, make the content more memorable and develop their agility.

The first edition of Inspiring Guest project is developed around educational videos staring the Californian comedian Sammy Obeid. Not only the stand-up comedian is the host of “100 Humans” on Netflix but he is also a UC Berkeley Math & Business graduate.

The success of this first edition exceeded the expectations of the pedagogical team. Fully satisfied with the outcome, the Business School is currently preparing a new exciting edition of TBS Inspiring Guest.

Gilles Lafforgue has been appointed member of the Commission on the Economy of Sustainable Development (CEDD) of the French Ministry of Ecological Transition. The title of qualified personality for his economic expertise was awarded to him in this context. Very involved in the research sphere in terms of sustainable development and recognized for his economic expertise, this professor-researcher at TBS Education had participated in the French Carbon Commission from 2017 to 2019. His involvement and the recognition of his high skills are confirmed with this new appointment.

The role of the Commission on Sustainable Development Economics

The CEDD was created on November 10, 2020 at the initiative of the French Prime Minister and the French Minister of Ecological Transition. It succeeds the Economic Council for Sustainable Development. The CEDD provides assistance to French public decision-making on sustainable development from an economic perspective.

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The mission of this consultative commission is to provide insight into the fields of the environment, energy and climate, transportation and housing. To do this, it relies on the analysis of statistical data and the comparison of economic analyses, the development and evaluation of public policies in these areas.

The objective of the “Environment” group

The professor-researcher will participate more specifically in the work of the “Environment” group, whose objective is to examine and discuss the economic accounts of the environment (monetary and physical flows relating to natural environments, natural resources, the circular economy, or the reduction of emissions and consumption).

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GDPR Compliance in Light of Heavier Sanctions to Come: at Least in Theory

[su_pullquote align=”right”]By W. Gregory Voss & Hugues Bouthinon-Dumas[/su_pullquote]

Ridiculously low ceilings on administrative fines hindered the effectiveness of EU data protection law for over twenty years. US tech giants may have seen these fines as a cost of doing business. Now, over two years after the commencement of the European Union’s widely heralded General Data Protection Regulation (GDPR), the anticipated billion-euro sanctions of EU Data Protection Authorities, or ‘DPAs’, which were to have changed the paradigm, have yet to be issued.

Newspaper tribunes and Twitter posts by activists, policymakers and consumers evidence a sense of unfulfilled expectations. DPA action has not supported the theoretical basis for GDPR sanctions—that of deterrence. However, the experience to date and reactions to it inspire recommendations for DPAs and companies alike.In our working paper, EU General Data Protection Regulation Sanctions in Theory and in Practice, forthcoming in Volume 37 of the Santa Clara High Technology Law Journal later in 2020, we explore the theoretical bases for GDPR sanctions and test the reality of DPA action against those bases. We use an analysis of the various functions of sanctions (confiscation, retribution, incapacitation etc) to determine that their main objective in the GDPR context is to act as a deterrent, inciting compliance.

To achieve deterrence, sanctions must be severe enough to dissuade. This has not been the case under the GDPR as shown through an examination of actual amount of the sanctions, which is paradoxical, given the substantial increase in the potential maximum fines under the GDPR. Sanctions prior to the GDPR, with certain exceptions, were generally capped at amounts under €1 million (eg £500,000 in the UK, €100,000 in Ireland, €300,000 in Germany and €105,000 in Sweden).

Since the GDPR has applied, sanctions have ranged from €28 for Google Ireland Limited in Hungary to €50 million for Google Inc in France, far below the potential maximum fine of 4% of turnover, or approximately €5.74 billion for Google Inc. based on 2019 turnover. While the highest sanctions under the GDPR have been substantially greater than those assessed under the prior legislation, they have been far from the maximum fines allowed under the GDPR.

Nonetheless, this failure of DPAs, especially the Irish DPA responsible for overseeing most of the US Tech Giants, has not gone unnoticed, as shown by EU institutional reports on the GDPR’s first two years. Indeed, increased funding of DPAs and greater use of cooperation and consistency mechanisms are called for, highlighting the DPAs’ current lack of means. Here, we underscore the fact that, in the area of data protection, there has been perhaps too much reliance on national regulators whereas in other fields (banking regulation, credit rating agencies etc), the European Union has tended to move toward centralization of enforcement.

Despite these short-fallings, the GDPR’s beefing-up of the enforcement toolbox has allowed for actions by non-profit organizations mandated by individuals (such as La Quadrature du Net that took action against tech giants after the GDPR came into force), making it easier for individuals to bring legal proceedings against violators in the future, and an EU Directive on representative actions for the protection of consumer collective interests is in the legislative pipeline.

On the side of businesses, there has been a lack of understanding of certain key provisions of the GDPR and, as compliance theorists tell us, certain firms may be overly conservative and tend to over-comply out of too great of a fear of sanction. This seems to be the case with the GDPR’s provisions regarding data breach notifications, where unnecessary notifications have overtaxed DPAs. The one-stop-shop mechanism, which is admittedly complex, also created misunderstanding.

This mechanism allows the DPA of the main establishment in the European Union of a non-EU company to become the lead supervisory authority in procedures involving that company, which potentially could lead to companies’ forum-shopping on this basis. However, there is also a requirement that the main establishment has decision-making power with respect to the data processing to which the procedure relates. Failure to consider the latter requirement could result in companies selecting main establishments in countries where there is not such decision-making power, and thereby halt attempts at forum-shopping for a lead supervisory authority for certain processing.  One example of this culminated in the French DPA (CNIL)’s largest fine so far, imposed on Google, whereas the latter argued that the Irish DPA was its lead supervisory authority.

As we explain in our paper, a lack of GDPR enforcement carries risks. Not only does it undercut the deterrent effect of the GDPR, but it also provides a tenuous basis for risk assessment by companies. While the GDPR’s first two years involved a sort of grace period when DPAs focused on educating companies and spent time painfully investigating complaints to litigation-proof their cases, some companies model their risk assessment of regulation based on enforcement histories. If there is a push for greater enforcement, which EU institutional reports would tend to foreshadow, the basis for companies’ models will be inaccurate. Furthermore, such dependence on risk evaluation ignores potential benefits to firms of increased trust and efficiency involved with expanding compliance to adopt a higher data protection compliance standard applied to customers worldwide.

Thus, we argue, not only should DPAs sanction offenders, but DPAs should sanction them severely when justified, establishing the necessary deterrence effect for EU data protection law. Moreover, DPA’s communication should in many cases be modified to stop downplaying sanctions: such communication is counterproductive to the desired effect of sanctions. Companies, on the other hand, should take efforts to understand fully the GDPR, and embrace compliance, leaving behind data protection forum-shopping as a potentially ineffective action. Furthermore, the typical securities lawyer warning that, ‘past performance is no guarantee of future results’, may be a forewarning to companies using past sanctions to create their compliance risk-assessment models that the results may not be accurate for the future.

Gregory Voss is an Associate Professor in the Human Resources Management & Business Law Department at TBS Education.

Hugues Bouthinon-Dumas is an Associate Professor in the Public and Private Policy Department at ESSEC Business School.

This article originally appeared on the Oxford Business Law Blog (OBLB) and is reproduced with permission and thanks.

Discover TBS professor Louise Curran’s point of view on the effect of COVID-19 on international trade policies.

As COVID-19 has spread across the world it has had major impacts on supply chains. It is reasonable to assume that the impact on trade flows may be even greater than that for the GFC in 2009, where world trade fell by over 20%. Most of this is an entirely natural result of the closure of many production structures around the world. However, some trade impacts are the direct result of trade policy interventions by governments, which presage a more major and long-term impact from the current crisis. Discover more in the video below:

[Série – Face à la crise Covid-19] How will Covid-19 impact international trade policies ? from FNEGE MEDIAS on Vimeo.

Discover TBS professor Timo Mandler’s point of view on building brands in markets that have reached the post-globalization stage.

Consumers in Western markets are increasingly critical towards globalization and re-embrace local values. Companies thus must decide whether to continue to pursue global branding strategies and/or rejuvenate local branding strategies. To explore the implications of market globalization for consumer preferences, we use signaling theory to investigate the role of perceived brand globalness and localness as signals of brand credibility, related downstream effects and boundary conditions, across two countries with differing levels of globalization. In globalized markets, brand globalness is a weaker signal of brand credibility than brand localness, whereas in globalizing markets, the two signals are of equal importance.

Building Credible Brands in (Post-)Globalizing Markets from FNEGE MEDIAS on Vimeo.

[su_pullquote align=”right”]By Denis Lacoste[/su_pullquote]Based on the article “La recherche dans les écoles de management apporte une réelle valeur ajoutée” – Published in News Tank.

While the relevance of research in business schools is now widely recognized, two criticisms resurface from time to time and cast doubt on this faculty activity.

The first criticism concerns the synergy between research and teaching. Detractors state that business schools, under the pressure of accreditations and rankings, pay consequent amounts to resident professors whose sole activity is to conduct research. The task of teaching is therefore left to non-research teachers, which implies that students don’t benefit from the skills of the most expert professors in their discipline.

The second criticism deals with the very nature of research. Academic journals select articles based on academic rigor. They don’t take into account their interest for practitioners. Students have no interest in joining a school whose research will be of no use to them.

In an article published last October 25th in News Tank, I show that these criticisms erroneously depict the state of research in business schools for at least three reasons.

First, rankings and accreditations don’t only take into consideration research performance, far from it. Consequently, business schools do not base their entire policy on this sole component: they evaluate teachers using many other criteria such as quality of teaching, innovation, engagement, institutional involvement, managerial responsibilities ….

Second, if the most active researchers have indeed lighter course loads (which is a common practice in higher education), it is wrong to say that students do not benefit from their skills. Many business schools have defined a minimum threshold for teaching hours, which cannot be crossed by any teacher, regardless of his/her research activity.

Finally, most of the research articles published in the best-ranked scientific journals have managerial implications and are selected with this criterion in mind. In addition, schools are increasingly aware of the impact of their professors’ research on stakeholders.

All in all, questioning research in business schools on the grounds that researchers do not teach and that research is not relevant does not hold up to serious scrutiny. On the contrary, over the past fifteen years, research in business schools has made remarkable progress both in terms of quantity and quality, and fully contributes to the schools’ success with students and companies !