Academic staff

Adrian POP

Senior Lecturer in Banking and Finance

Contact details

Institut d'Economie et de Management de Nantes -- IAE Chemin de la Censive du Tertre BP 52231 44322 Nantes Cedex 3

Phone
0240141654 (n° interne : 441654)
Email
Adrian.Pop@univ-nantes.fr

Taught academic discipline(s)

  • Current:
    • MBA-level: Corporate Financial Management; Credit Risk Measurement & Management; International Finance; Regulation of Financial Institutions; Research Methodology
    • Undergraduate-level: Risk Management and Corporate Finance
  • Past:
    • MBA-level: Foreign Exchange Derivatives; Financial Crises & Regulation; Portfolio theory; Advanced Financial Markets: Bond Valuation; Financial Intermediation Theory;  Global Wealth Management; Event Studies Methodology;
    • Undergraduate-level: Economics of banking; International banking; Introduction to Continuous Time Finance & Stochastic Processes; Classroom Games in Microeconomics; Statistics; Econometrics; Financial Markets; Mathematical Finance; Macroeconomics; Intermediate Microeconomics; Microeconomics

Research topics

banking regulation and supervision; early-warning systems; Basel Capital Accords; market discipline; capital standards; pro-cyclicality; subordinated debt; credit spreads; credit ratings; stress testing in banking; credit scoring; market efficiency; informational content of security prices; contagion; credit derivatives; Too Big To Fail in banking; financial crises; corporate governance in emerging economies

Activities / Resume

ORCID ID: 0000-0002-8220-3674 

Position

  • Since 2021: President of ADIM-BFA, a Network of 14 French Universities
  • Since 2016: Member of the Financial Regulation Advisory Committee (CCLRF), appointment by decree of the Minister of Economy and Finance published in the Official Journal n°301/28-12-2016 and n°62/09-01-2020
  • Since 2012: Senior Lecturer in Banking & Finance
  • Since 2006: Head of the Executive MBA Program, Banking & Finance Department, Institute of Banking & Finance
  • 2015-2020: Treasurer of ADIM-BFA, a Network of 14 French Universities
  • 2008-2013: Economic Advisor, French Supervisory Prudential Authority (Banque de France), Division: Banking Risks & Stress Testing
  • 2006-2012: Associate Professor of Banking and Finance (IEMN-IAE) & Researcher (LEMNA)
  • Before 2006: PhD Student (2001-2005) and Assistant Professor (1999-2006)

Education

  • 2012: Habilitation Qualification "Essays on Banking Supervision, Regulation, and Corporate Governnce" (University of Nantes). Jury: Robert R. Bliss, Wake Forest University; Jean-Bernard Chatelain, University of Paris I Pantheon-Sorbonne; Jean-Paul Pollin, University of Orleans, Referee; Fabien Tripier, University of Nantes; Larry D. Wall, Federal Reserve Bank of Atlanta
  • 2005: PhD in Banking Economics "Market Discipline in Banking: The Role of Mandatory Sub-Debt Proposals" (University of Orleans). Jury: Olivier de Bandt, Banque de France; Ioan Florea, Babes-Bolyai University; Anne Lavigne, University of Orleans; Jean-Paul Pollin, University of Orleans; Jean-Charles Rochet, University of Toulouse, Amine Tarazi, University of Limoges
    • PhD Thesis Prize in Banking & Monetary Economics awarded by the Banque de France Research Foundation
  • 1999: Master of Research in Economics, specialization in Quantitative Economics, Babes-Bolyai University, in collaboration with the University of Orleans

Publications (peer-reviewed)

  • “Macro-financial Linkages: The Role of the Institutional Framework” (with A. Leroy), Journal of International Money and Finance, 92, pp. 75-97, April 2019.
  • “Risk and Ethical Investment: Empirical Evidence from Dow Jones Islamic Indexes” (with A. Charles and O. Darné), Research in International Business and Finance, 35, pp. 33-56, September 2015.
  • “Monitoring Financial Distress in a High-Stress Financial World: The Role of Option Prices as Bank Risk Metrics”, (with J. Coffinet and M. Tiesset), Journal of Financial Services Research, 44(3), pp. 229-57, December 2013.
    • Semifinalist, FMA Europe 2010 Best Paper Award
  • “Understanding the Market Reaction to Shockwaves: Evidence from the Failure of Lehman Brothers”, (with N. Dumontaux), Journal of Financial Stability, 9(3), pp. 259-286, September 2013.
  • “Two-way Interplays between Capital Buffers and Credit Growth: Evidence from French Banks” (with J. Coffinet, V. Coudert, and C. Pouvelle), Journal of International Financial Markets, Institutions & Money, 22(5), pp. 1110-1125, December 2012.
  • “Did the Market Signal Impending Problems at Northern Rock? An Analysis of Alternative Financial Instruments” (with P. Hamalainen, M.J.B. Hall, and B. Howcroft), European Financial Management, 18(1), pp. 68-87, January 2012.
    • EFM 2012 Top Download Best Paper Award
  • “Requiem for Market Discipline and the Specter of TBTF in Japanese Banking” (with D. Pop), Quarterly Review of Economics and Finance, 49(4), pp. 1429-1459, November 2009.
  • “Quantity Effects and the Market Discipline Mechanism: A Bivariate Analysis”, Journal of Banking Regulation, 10(2), pp. 164-175, March 2009.
  • “Market Discipline in International Banking Regulation: Keeping the Playing Field Level”, Journal of Financial Stability, 2(3), pp. 286-310, October 2006
 
  • “Risk measurement and regulatory arbitrage in the Basel odyssey” (with O. Toader), Revue d’Economie Financière (in French)
  • “Comments on ‘Do Capital Requirements Influence Bank Efficency? Lessons from a Chinese Natural Experiment’”, Revue Economique, 66(3), pp. 521-526, 2015 (in French)
  • “Recent Developments in Monetary and Banking Economics” (with R. Bellando and J-B. Chatelain), Revue Française d’Economie, 28(4), pp. 3-13, 2014 (in French)
  • “Market Behaviours and the Perception of the Lehman Brothers’ Failure in the US” (with N. Dumontaux), Revue d’Economie Financière, 101, pp. 261-272, 2011 (in French)
  • “Financial Integration in Europe: Quo Vadis?”, Regards Croisés sur l’Économie, vol. 1, n°3 (Crisis and Regulation), pp. 45-53, 2008 (in French)
  • “Beyond the 3rd Pillar of Basel 2: Using Bond Market Signals for Supervisory Purposes”, Banque & Marchés, n°89, pp. 16-28, 2007 (in French)
  • “Mandatory Sub-Debt Policy as an Alternative to the Third Pillar of Basel II: Is It Feasible?”, Louvain Economic Review, 71(2), pp. 193-222, 2005 (in French)
  • “Direct Market Discipline: An Incentive Model of the Banking Firm”, Studia Œconomica, 50(2), 2005 (in French)
  • “Subordinated Debt, Market Discipline, and Regulatory Reform”, Revue d’Économie Financière, 71, pp. 261-276, 2003 (in French)

Books and book chapters (selection)

  • "Stress Testing in Banking: A Critical Review", in Preparing for the Next Financial Crisis: Policies, Tools and Models, edited by E. Jokivuolle & R. Tunaru, Cambridge University Press, pp. 89-107, November 2017.
  • "Privatization and Governance Regulation in Frontier Emerging Markets: The Case of Romania" (with G. Chemla & D. Pop), in Financial Institutions and Markets: The Financial Crisis - An Early Retrospective, edited by R. Bliss & G. Kaufman, Palgrave Macmillan, pp. 205-224, March 2011.
  • Market Discipline in Banking Regulation, Editions Universitaires Européennes, 412 p., ISBN 978-613-1-52151-5, July 2010 (in French).

Additional information

Working Papers (selection)

  • Calibrating Initial Shocks in Bank Stress Test Scenarios: An Outlier Detection Based Approach (with O. Darné and G. Levy-Rueff), Banque de France WP 426
  • Contagion Effects in the Aftermath of Lehman's Collapse: Measuring the Collateral Damage (with N. Dumontaux), Banque de France WP 427
  • Two-way Interplays between Capital Buffers, Credit, and Output: Evidence from French Banks (with J. Coffinet, V. Coudert, and C. Pouvelle), Banque de France WP 316
  • Predicting Financial Distress in a High-Stress Financial World: The Role of Option Prices as Bank Risk Metrics, (with J. Coffinet and M. Tiesset), Banque de France WP 311
  • Did the Market Signal Impending Problems at Northern Rock? An Analysis of Alternative Financial Instruments (with P. Hamalainen, M.J.B. Hall, and B. Howcroft), Loughborough University Banking Centre WP 2008-11, ISSN 1750-4171

Work in progress

  • "Optimal Triggers for Basel III Countercyclical Capital Buffers: A Proposal" (with A. Abass), Revue d'Economie Politique, forthcoming
  • “Procyclicality and Regulatory Arbitrage through Optimized Internal Rating Systems” (with A. Fouad Ali), Revue Economique, forthcoming
  • “Is the Market Tougher with High-Risk Banks” (with D. Pop), Journal of Economics and Business, revise & resubmit
  • “The Calibration of Initial Shocks in Bank Stress Test Scenarios: An Outlier Detection Based Approach” (with O. Darné & G. Levy-Rueff), Economic Modelling, revise & resubmit
  • “The Market Reaction to Changes in Disclosure of Related-Party Transaction Rules” (with V. Atanasov & D. Pop), submitted
  • “Anchoring in Takeovers under Mandatory Bid Rule: Evidence from an Emerging Market” (with D. Pop), submitted
  • “Output Floors in Setting Bank Capital Requirements” (with D. Pop), submitted
  • “The Role of Latent Systematic Factors in Explaining SME Failure” (avec A. Fouad Ali), submitted
  • “The Privatization Roots of Financial Dilution: Evidence from Equity Offerings” (with D. Pop), draft available
  • “Credit Bubbles” (avec R. Tunaru), en cours

Conference presentations (selection)

  • 38th GdRE Symposium, June 2022, Strasbourg
  • 10th FEBS Conference, September 2021, Lille
  • 37th GdRE Symposium, Banque de France, July 2021, Paris 
  • IFABS 2018 Conference, June 2018, Porto
  • 21st FMA European Conference, June 2017, Lisbon
  • Bank of Finland & University of Kent "From the Last Financial Crisis to the Next", September 2015, London
  • 17th European FMA Conference, June 2013, Luxembourg
  • EFMA 2013 Meetings, June 2013, Reading
    • EFM Best Paper Award
  • AsianFA 2011 International Conference, July 2011, Macao
  • 14th FMA European Conference, June 2010, Hamburg
    • semifinalist, FMA 2010 Best Paper Award
  • 84th WEAI/IBEFA Conference, June 2009, Vancouver
  • AsianFA 2008 International Conference, July 2008, Yokohama

Conference organization

  • Member of the Scientific Committee, EFMA Annual Meetings, since 2014
  • Member of the Scientific Committee of the CNRS GdRE, since 2012
  • Co-organizer, 29th International Symposium on Banking & Monetary Economics, CNRS GdRE, June 2012, University of Nantes (150 participants from 24 countries)
  • Co-organizer, Workshop “New Developments in Financial Intermediation”, March 2011, University of Nantes (20 participants)
Teaching
  • University of Nantes (since 2006)
  • University of Paris I Panthéon-Sorbonne (since 2010)
  • Royal University of Law and Economics (RULE), Phnom Penh (since 2012)
  • Vietnam National University (VNU), Hanoi (since 2008)
  • Foreign Trade University, Ho-Chi-Minh City (2013-2014)
  • University of Orleans (2002-2005)
  • Babes-Bolyai University (1999-2001)
PhD/Post-doc Supervision
  • H.R. GOUELLET, “Financial Fragility in the Central African Economic and Monetary Community (CEMAC)”, defended 12/2022 
  • A. FOUAD ALI, “Three Essays on Corporate Default”, defended 12/2019 
  • K. KARAGIANNIS, “Behavioral Finance and Investment Strategies”, co-supervised with E. Galariotis (Audencia), defended 10/2019 
  • A.M. ABASS, “Essays on the Pro-cyclicality of Bank Capital Requirements: An Application to the African Financial System”, defended 12/2017 
  • A. LEROY, “Macro-financial Linkages”, post-doc 2016-2017

Miscellaneous

  • Referee for Australian Journal of Management; Brussels Economic Review; Bankers, Markets and Investors; Comparative Economic Studies; Economics Bulletin; Économie et Prévision; Economics Bulletin; International Economics; International Journal of Finance and Economics; International Review of Financial Analysis; Journal of Banking and Finance; Journal of International Financial Markets, Institutions and Money; Louvain Economic Review; Revue d’Économie Industrielle; Revue d’Économie Politique; Revue Économique; Revue Française d’Économie; Studia Œconomica
  • Referee for Elsevier Book Series
  • Ad hoc consultant to Agence France-Presse (AFP), the French global news agency
  • Member of 24 Recruitment Committees in French Universities
  • Member/Referee in 12 PhD/Habilitation Jurys
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Mis à jour le 26 March 2024.
https://www.univ-nantes.fr/adrian-pop