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Laurent L. Jacque

Walter B. Wriston Professor of International Finance & Banking
Academic Director of the Masters of International Business
Program: Global Master of Arts Program (GMAP)

Laurent L. Jacque

Walter B. Wriston Professor of International Finance & Banking
Academic Director of the Masters of International Business
Phone
617-627-5982
Mugar 251C
The Fletcher School at Tufts University
160 Packard Ave.
Medford
,
MA
02155
Headshot of Laurent L. Jacque
Education
  • Diploma, Ecole des Hautes Etudes Commerciales (HEC School of Management, Paris)
  • M.A., University of Pennsylvania
  • MBA, Wharton School, University of Pennsylvania
  • Ph.D., Wharton School, University of Pennsylvania
Biography

Laurent L. Jacque is the Walter B. Wriston Professor of International Finance & Banking at the Fletcher School of Law and Diplomacy (Tufts University) and Director of its International Business Studies Program. From 2004 to 2007 he was Fletcher’s Academic Dean and as such responsible for the design and the establishment of the new Master of International Business degree and the Center for Emerging Market Enterprises. Previously he was on the faculty of the Wharton School where he held a joint appointment in the Management and Finance departments. He  also held a secondar appointment at the HEC School of Management (France) as a Professor of Economics, Finance, and International Business from 1990 to 2012.

He is the author of  four books, International Corporate Finance: Value Creation with Currency Derivatives in Global Capital markets (Wiley, 2019, 2nd edition), Global Derivative Debacles: From Theory to Malpractice (World Scientific, 2015, 2nd edition) translated in French, Spanish, Russian,  Chinese and Korean, Management and Control of Foreign Exchange Risk (Kluwer Academic Publishers, 1996), Management of Foreign Exchange Risk: Theory and Praxis (Lexington Books, 1978) as well as more than 25 articles on International Risk Management,  Multinational Control Systems, Capital Markets and International Insurance, which have appeared in the Journal of International Business Studies, , Journal of Applied Corporate Finance, Insurance Mathematics and Economics, Management Science, the Journal of Risk and Insurance, The Journal of Operations Research Society, Columbia Journal of World Business etc.  He served as an advisor and consultant to the Foreign Exchange Rate Forecasting Service of Wharton Econometrics, Forecasting Associates  (WEFA) and as a member of Water Technologies Inc.'s board of directors. He was a senior advisor to the Dean of the Indian School of Business for the establishment of the Bharti Institute of Public Policy and was a member of the Institute’s advisory board (2010-2020).

A recipient of five teaching awards at The Wharton and Carlson Schools, Jacque received the James L. Paddock award for teaching excellence at The Fletcher School  and the Europe-wide HEC-CEMS teaching award. He is a consultant to a number of firms and the IFC (World Bank) in the area of banking, corporate finance and risk management and has taught in many Management Development Programs, including Manufacturers Hanover Trust, Merck, Sharp & Dohme, Philadelphia National Bank, General Motors, Bunge and Born (Brazil), Rhone-Poulenc (France), Siam Commercial Bank (Thailand), Daewoo (South Korea), General Electric, Dupont de Nemours, Norwest Bank, Bangkok Bank (Thailand) , INSEAD, Pechiney and Petrobras (Brazil).

Laurent Jacque is a graduate of HEC (Paris) and received his MA, MBA and PhD from the Wharton School (University of Pennsylvania).

Areas of expertise
Economic Development
Globalization & Trade
International Business
International Environment & Energy
International Finance & Monetary Policy
Regional Studies
Professional Activities
  • Secondary appointment as Professor of Finance and International Business, HEC School of Management (France) (1990-2012) and Visiting Professor (2012-2018)
  • Institut Supérieur de Gestion des Entreprises at the University of Tunis,
  • Wharton School, University of Pennsylvania (1976-87)
  • Carlson School, University of Minnesota (1987-93)
  • Held visiting appointments at University of Hawaii (Pacific Management Institute), HEC (Paris),  Instituto de Empresa (Madrid), Indian School of Business, Kiel Institute of World Economics (Germany) and Chulalongkorn University (Thailand)
  • Director, International Business Relations Program, The Fletcher School of Law and Diplomacy and Academic Director, MIB Program
Other Affiliations
  • International Business Relations Program
  • MIB degree program
Research Interests
  • Foreign exchange risk
  • International finance
  • Insurance
  • Global financial services
  • Systemic risk and financial crises
Publications

ARTICLES

The euro@20: how economic and financial asymmetries marred the promise of the single currency”, Journal of Applied Corporate Finance (Fall 2020) with George Alogoskoufis.

“L’euro @ 20: anniversaire en demi-teinte”, Revue Banque (juillet-aout 2019) with George Alokoskoufis

“When a Hedge is a Gamble: An Empirical Investigation (1993-2002) of Metalgesellschaft’s High Stake Debacle” in the Financier, vol.11/12, 2004-2005, with Richard J. Evans.

“When a Hedge is a Gamble: An Empirical Investigation (1993-2002) of Metalgesellschaft’s High Stake Debacle” in the Financier, vol.11/12, 2004-2005 (with Richard J. Evans)

“The International Control Conundrum with Exchange Risk: An EVA Framework," (co-author) Journal of International Business Studies (2002);

 "Control Modes in International Service Operations: The Propensity to Franchise." Management Science 41, no. 7 (1995): 1238-1249 with Karen Fladmoe-Lindquist.

 "Myths and Realities of the Global Market for Capital." Journal of Applied Corporate Finance 6, no. 3 (1993): 81-90 with Gabriel Hawawini.

"Premium Allocation and Risk Avoidance in Large Firms: A Continuous Model," Insurance: Mathematics and Economics(vol. 9) (1990) with Charles Tapiero.

"Optimal Currency Denomination in Long-Term Debt Financing," The Journal of Operational Research Society(February 1987) with Pascal Lang.

BOOKS

Management of Foreign Exchange Risk (Lexington Books, 1978)

Financial Innovations and the Welfare of Nations (co-editor) (2001);

Management and Control of Foreign Exchange Risk (Kluwer,1996).

Global Derivative Debacles: From Theory to Malpractice (World Scientific, 2014, 2nd edition). This book was translated in French, Spanish, Russian, Korean and Chinese.

International Corporate Finance: Value Creation with Currency Derivatives in Global Capital markets (John Wiley & Sons, 2019, 2nd edition)

OP-EDS

“Les Jours de l’euro son tils comptes” or "Is the Euro Doomed?," co-authored with Anthony Gribe, Le Monde(January 15, 2004)

« Anniversaire en demi-teinte pour l’Euro », Le Monde Diplomatique  (Fevrier 2009),  English translation (March 2009)

« Mythes et realités de la Guerre des Monnaies », Le Monde Diplomatique (Decembre 2010) – lead article, front page.  English translation (January 2011) also appeared in the International Herald Tribune