Press Release
Robert Engle,
HEC Honoris Causa Professor
Jouy-en-Josas, 23rd June 2006
June 2006,
HEC Paris was honored to welcome Professor Robert Engle, laureate of the 2003 Nobel
Prize in Economics; invited to HEC to present his works on the modeling of operational
risk, in the form of a weekly research seminar in the Finance and Economics
Department.
Following the presentation, Bernard Ramanantsoa, HEC Dean and Antoine Hyafil, Dean
of the Faculty and Research, had pleasure in awarding Robert Engle the title of HEC
Honoris Causa Professor.
Robert Engle becomes a member of the HEC Honoris Causa faculty alongside other well
known economists, such as Edmond Malinvaud, Andreu Mas Colell, Robert Merton,
Roger Guesnerie and Oliver Williamson.
The ceremony was closed by a lunch presided by Nicolas Jacquet, President of the
Chamber of Commerce and Industry in Paris (CCIP) in the presence of Pierre-Antoine
Gailly, vice president treasurer of the CCIP.
Robert Engle’s works illustrate the remarkable impact of academic research on world
economy. For example, the Autoregressive Conditional Heteroskedasticity model
(ARCH), a method that allows researchers and analysts to measure volatility over time
and the gradual evolution of the correlations between financial assets (DDV model).
These models had a great impact on the performance of financial institutions and on the
regulations to which these institutions refer. They also help to achieve the creation of the
best highly qualified jobs in the worldwide financial sector.
By awarding Professor Robert Engle with the title of Professor Honoris Causa, HEC Paris
reaffirms its dedication towards high quality research in economics and in social
sciences; a major requirement of European Business Schools whose ambition is to
contribute to the economical and cultural development of our continent, in an
increasingly globalised economy.
Press Contact, HEC School of Management
Catherine Rousseau
 +33 1 39 67 94 23
  +33 1 39 67 94 46
e-mail : rousseau@hec.fr
www.hec.edu