Georges Dionne



Canada Research Chair in Risk Management

Tier 1 - 2017-11-01
Renewed: 2018-01-01
HEC Montréal
Social Sciences and Humanities Research Council

514-340-6596
georges.dionne@hec.ca

Research involves


Main focus on measuring liquidity risk, analyzing welfare implications of high frequency trading, and improving the design of financial institutions’ securitization.

Research relevance


This research will foster improvements in areas where risk management failed during the last financial crisis, causing many investors to sustain large losses.

Improving risk management in financial markets


As Canada Research Chair in Risk Management, Georges Dionne’s research goals are to develop models that make risks in the sphere of financial markets easier to understand, and to create more effective risk management tools.

His research has a triple focus: 1) Although liquidity risk has prevailed in many markets since the 2008 financial crisis, there is no consensus on its definition and measurement; 2) High-frequency trading predominates in all stock exchanges, yet experts disagree about its effects on the welfare of investors in such vehicles as pension funds; 3) The securitization risks of banks are still not effectively regulated even though poor risk management was identified as a cause of the financial crisis.

The objectives of Dionne’s work are to develop better measures of liquidity risk, isolate the implications of high-frequency trading, and reinforce the financial stability of securitization risks. His research will continue to investigate problems in the relaying of information by different markets, and to study insurance, credit and operational risks. By including graduate students in his research team, Dionne will enrich their educational experience and better equip them to become future leaders in risk management.

Dionne’s research results will lead to improvements in risk management and will help ensure that history does not repeat itself in financial markets when major risks arise.