DRM
Gresse Carole
Full Professor
Biography
Carole Gresse is professor of finance at Université Paris Dauphine-PSL, where she teaches fixed income markets and investments, and where she heads the DRM finance research group and the finance doctoral program. She is also in charge of developing the Finance graduate program of PSL University. She is a graduate of ESCP Europe and holds a PhD from Université Paris Dauphine-PSL. She has visited the University of Neuchâtel, the University of Lugano, UCLouvain, UNSW Sydney, Columbia University, and Cass Business School, and she has been a visiting research scholar at CNRS (the French national research institute) several times. Her research interests are in market microstructure and IPOs. Her academic articles have been published in international journals such as Financial Management, the Journal of Banking and Finance, or the Journal of Financial Markets. She is a member of the AMF (Autorité des Marchés Financiers) scientific board.
Publications
Articles
Gresse C. (2017), Effects of Lit and Dark Market Fragmentation on Liquidity, Journal of Financial Markets, vol. 35, p. 1-20 
Bouzouita N., Gajewski J-F., Gresse C. (2015), Liquidity Benefits from IPO Underpricing : Ownership Dispersion or Information Effect, Financial Management, vol. 44, n°4, p. 785-810
De Séverac B., Deville L., Gresse C. (2014), Direct and Indirect Effects of Index ETFs on Spot-Futures Pricing and Liquidity : Evidence from the CAC 40 Index, European Financial Management, vol. 20, n°2, p. 352-373
Gresse C. (2014), Market fragmentation: assessments and prospects?, Revue du conseil scientifique (AMF), n°1, p. 23-37
Platten I., De Winne R., Gresse C. (2014), Liquidity and Risk Sharing Benefits from Opening an ETF Market with Liquidity Providers: Evidence from the CAC 40 Index, International Review of Financial Analysis, vol. 34, p. 31–43
Gajewski J-F., Boutron E., Gresse C., Labégorre F. (2007), Are IPOs Still a Puzzle? A Survey of the Empirical Evidence from Europe, Finance, vol. 28, n°2, p. 5-41
Gresse C., Gajewski J-F. (2007), Centralised order books versus hybrid order books: a paired comparison of trading costs on NSC (Euronext Paris) and SETS (London Stock Exchange), Journal of Banking and Finance, vol. 31, n°9, p. 2906-2924
Labégorre F., Gajewski J-F., Boutron E., Gresse C. (2006), Les procédures d'introduction en Bourse en Europe : évolution des pratiques et perspectives, Revue d'économie financière, n°82, p. 99-115
Gresse C. (2006), The Effect of Crossing-Network Trading on Dealer Market's Bid-Ask Spreads, European Financial Management, vol. 12, n°2, p. 143-160
Gajewski J-F., Gresse C. (2004), A Comparison of Trading Costs on NSC (Euronext) and SETS (London Stock Exchange), Revue bancaire et financière, vol. 68, n°4, p. 193-199
Gresse C., Jacquillat B., Gillet R. (1998), Revisiting the Competition between the International Equity Market of the London Stock Exchange and the Brussels Stock Exchange, Revue de la banque, vol. 7, p. 375-383
Gresse C., Jacquillat B. (1998), The Diversion of Order Flow on French Stocks from CAC to SEAQ International : A field Study, European Financial Management, vol. 4, n°2, p. 121-142
Ouvrages
Gresse C. (2017), Marchés de taux d'intérêt, Paris: Economica, 256 p.
Gresse C. (2003), Les entreprises en difficulté, Paris: Economica, 112 p.
Gresse C., Fontaine P. (2003), Gestion des risques internationaux, Paris: Dalloz, 506 p.
Gresse C. (2001), Fragmentation des marchés d'actions et concurrence entre systèmes d'échange, Paris: Economica, 234 p.
Chapitres d'ouvrage
Bouzouita N., Gresse C. (2018), The impact of IPOs' analyst coverage on the choice and timing of SEOs: A survival analysis, in Douglas Cumming, Oxford Handbook of IPO, Oxford: Oxford University Press, p. 331-358
Dargnies M-P., Gresse C., Roger T., Simon A. (2017), Robert J. Shiller. l’exubérance irrationnelle des marchés, in Michel Albouy et Gérard Charreaux, Les grands auteurs en finance, Colombelles (Calvados): EMS - Editions Management et Sociétés, p. 603-626
Gresse C. (2017), Gestion obligataire, in Jean-Michel Rocchi, MBA Finance, Paris: Eyrolles, p. 505-538
Gresse C. (2014), Market Fragmentation and Market Quality: The European Experience, in Louhichi, Waël, Market Microstructure and Nonlinear Dynamics. Keeping Financial Crisis in Context Springer
Gresse C. (2010), Gestion obligataire, in Rocchi, Jean-Michel, MBA finance : tout ce qu'il faut savoir sur la finance par les meilleurs professeurs et praticiens, Paris: Eyrolles, p. 885
Gresse C. (1994), Les facteurs déterminant les déformations de la structure à terme des taux, in Jacquillat, Bertrand, Recherche en finance du CEREG, Paris: Economica, p. 292
Communications sans actes
Gresse C., MARIN H. (2024), Learning by Doing in Crowdlending Auctions, 17th BFWG Annual International Conference (Behavioural Finance Working Group ), Londres, Royaume-Uni
Gresse C., Marin H. (2022), Geographical Proximity and Enhanced Attention in P2B Crowdlending Strategies, Behavioural Finance Working Group 15th Annual Conference, Londres, Royaume-Uni
Gresse C., Marin H. (2022), Geographical Proximity and Enhanced Attention in P2B Crowdlending Strategies, 2022 FMA European Conference, Lyon, France
Gresse C., Marin H. (2021), Geographical-Proximity Bias in P2B Crowdlending Strategies, 14th Financial Risks International Forum, Paris / Online, France
Gresse C., Marin H. (2021), Geographical-Proximity Bias in P2B Crowdlending Strategies, 37th Spring International Conference of the French Finance Association, Nantes / Online, France
Gresse C., Marin H. (2021), Geographical Proximity and Enhanced Attention in P2B Crowdlending Strategies, 7th International Young Finance Scholars Conference, En ligne
Degryse H., De Winne R., Gresse C., Payne R. (2019), Duplicated Orders, Swift Cancellations, and Fast Market Making in Fragmented Markets, 46th Annual Meeting of the European Finance Association, Carcavelos, Portugal
Degryse H., De Winne R., Gresse C., Payne R. (2018), Cross-Venue Liquidity Provision: High Frequency Trading and Ghost Liquidity, FMA Annual Meeting, San Diego, États-Unis
Degryse H., De Winne R., Gresse C., Payne R. (2018), High frequency trading and ghost liquidity, 35th Annual Conference of the French Finance Association (AFFI), Paris, France
Gresse C., Porteu de la Morandière L. (2016), Rising and Senior Stars in European Financial Analyst Rankings: The Talented and the Famous, 2016 FMA European conference (Financial Management Association), Helsinki, Finlande
Gresse C., Porteu de la Morandière L. (2016), Rising and Senior Stars in European Financial Analyst Rankings: the Talented and the Famous, 23rd MFS annual conference (Multinational Finance Society), Stockholm, Suède
Gresse C. (2013), Effects of Lit and Dark Trading Venue Competition on Liquidity : The MiFID Experience, 2013 FMA European Conference, Luxembourg, Luxembourg
Brière M., Werker B., Gresse C., Boon L-N. (2013), Regulatory Environment and Pension Investment Performance, 11th Workshop on Pension, Insurance and Savings, Paris, France
Gresse C. (2011), Effects of the Competition between Multiple Trading Platforms on Market Liquidity : Evidence from the MiFID Experience, 2011 FMA Annual Meeting, Denver, États-Unis
Gresse C. (2010), Multi-Market trading and Market Liquidity: the Post MiFID Picture, 2010 AMF Scientific Advisory Board Conference : How Should Regulators Address Changes in Equity Markets?, Paris, France
Platten I., Gresse C., De Winne R. (2009), How does the Introduction of an ETF Market with Liquidity Providers Impact the Liquidity of the Underlying Stocks?, Financial Management Association Annual Meeting, Reno, États-Unis
Gresse C., Gajewski J-F. (2008), IPO Underpricing, Post-Listing Liquidity, and Information Asymmetry in the Secondary Market, 21st Australasian Finance and Banking Conference, Sydney, Australie
Gresse C., de Séverac B., Deville L. (2005), The Introduction of the CAC40 Master Unit and the CAC40 Index Spot-Futures Pricing Relationship, EFMA 2006, Madrid, Espagne
Gajewski J-F., Gresse C. (2004), Centralised order books versus hybrid order books: a paired comparison of trading costs on NSC (Euronext Paris) and SETS (London Stock Exchange), AFFI (Association Française de Finance), Paris, France
Gresse C. (2001), The Impact of Crossing on Market Quality : an Empirical Study on the UK Market, AFFI (Association Française de Finance), Paris, France
Présentation(s) dans un séminaire de recherche
Gresse C., Marin H. (2022), Geographical Proximity and Enhanced Attention in P2B Crowdlending Strategies, in LFIN Seminar series de UCLouvain, Louvain-La-Neuve
Degryse H., De Winne R., Gresse C., Payne R. (2021), Cross-Venue Liquidity Provision: High Frequency Trading and Ghost Liquidity, in Conseil Scientifique de l'Autorité des Marchés Financiers, Paris
Gresse C., Marin H. (2021), Geographical-Proximity Bias in P2B Crowdlending Strategies, in Séminaire du groupe de recherche en finance de l'Université Jean Moulin Lyon 3, Lyon
Prépublications / Cahiers de recherche
Gresse C., Marin H. (2021), Geographical-Proximity Bias in P2B Crowdlending Strategies, SSRN Working Paper Series
Degryse H., De Winne R., Gresse C., Payne R. (2020), Cross-Venue Liquidity Provision: High Frequency Trading and Ghost Liquidity, SSRN Working Paper Series
Gresse C., Porteu de la Morandière L. (2014), Rising and Senior Stars in European Financial Analyst Rankings: The Talented and the Famous, SSRN Working Paper Series
Werker B., Brière M., Gresse C., Boon L-N. (2014), Pension Regulation and Investment Performance: Rule-Based vs. Risk-Based, SSRN Working Paper Series, 12 p.
Gresse C., De Winne R., Platten I. (2011), Liquidity and Risk Sharing Benefits from the Introduction of an ETF, Paris, Université Paris-Dauphine, 44 p.
Gresse C. (2010), Post-MiFID Developments in Equity Market Liquidity, Paris, les cahiers scientifiques - AMF, 26 p.
Gresse C. (2010), L’évolution de la liquidité sur les marchés d’actions depuis l’entrée en vigueur de la Directive sur les Marchés d’Instruments Financiers, Paris, WP Centre d'Economie de l'université Paris-Nord, 27 p.
Gresse C. (2010), Multi-Market Trading and Market Quality, Paris, Université Paris-Dauphine, 36 p.
Rapports
Gresse C., Gajewski J-F. (2006), A Survey of the European IPO Market, ECMI Research Report, 94 p.
Autres publications
Gresse C., (2014), Market Fragmentation: Assessments and Prospects , Revue du Conseil Scientifique de lÂAutorité des Marchés Financiers, n°1, septembre, pp. 23-37
Gresse, C., Introduction en bourse : linformation crée la liquidité , Dauphine Recherches, N°1, Novembre 2016