research@hec - Issue #6 - (Page II)

Research at HEC: Fundamental sciences and the senior loyalty HEC Paris, sharing industrial knowledge Marketing professionals have established that “senior” consumers are the most faithful to products and brands. What is more, loyalty increases with age, though it is difficult to pinpoint the exact reason for this. The obvious effects of aging (increased need for convenience, decreased mental agility and memory loss, but also experience and wisdom) alone do not explain this phenomenon. While psychology and gerontology experts have contributed significant insight as regards aging, only rarely have they considered its link with consumer loyalty. And yet, discovering what it is that makes customers loyal would be extremely useful for marketing professionals; they could then, for instance, figure out how to market the latest innovations to seniors. HEC Paris marketing professor Gilles Laurent is currently studying this topic. His research involves working with experts in the fundamental sciences, as the study of consumer behavior, a core component of marketing research, draws upon psychology, sociology, anthropology and economics. Hence, the boundaries of these disciplines have extended toward the applied field of consumption. For marketing without consumer research is unimaginable. research When I say I am associate dean of research at HEC Paris, people sometimes respond, “Oh really? HEC does research?” More than anything else, this question reflects a lack of understanding about what management research is, what it can be, and why, unquestionably, it is of great value. I hope that this article will help to fill these knowledge gaps and set the story straight! By Marc Vanhuele, Associate Dean of Research, HEC Paris hec My Opinion In issue no. 3 of recherche@hec, Sihem Jouini contributes her views on the organization of disruptive innovation in large companies (the article just won the HEC Foundation award for best research paper). Her research is based on long-term participative observation at a company. The company in question was willing to expose itself to observation because it was sought to gain insight into its own modus operandi, and felt the need for a neutral, outside observer who was A research scientist’s academic expertise in and of itself is not enough to validate the results of his or her research or ensure its influence. In early 2008, in issue no. 2 of research@hec, Christophe Perignon raised the question of banks’ capacity to accurately measure influential market risks. Incidentally, this issue came out shortly following the scandal involving Jerome Kerviel and the Societe Generale bank. While these particular circumstances challenged some of the conclusions made in the article, they nonetheless remain wholly valid. As a leading European school, HEC Paris is more than just an active player in the field of learning—we are also producers of the knowledge we want to teach, as are our competitors. To ensure accuracy, scope and the stability of our results, we conduct research according to scientific processes. Publication of our research in prestigious journals confirms the support we have earned from the academic community. So, yes, we do indeed conduct research at HEC Paris. Academic research even!” I also a research scientist. Moreover, the company agreed to the publication of the results of the study. Wherein lies the difference between research and consulting: research, a public asset, is worthwhile for an entire community; yet, no individual or company will finance it privately. As a major player in the knowledge industry, HEC Paris has an obligation to provide high-quality products in its areas of specialization: management and economics. Other striking examples of the value of management research include analysis of data on groups of actors, such as financial markets, or on corporate acquisition policies. Expertise and neutrality II research@hec • December - January 2009 http://www.hec.edu/Faculty/Professors-alphabetical-list/(professor)/Vanhuele

Table of Contents for the Digital Edition of research@hec - Issue #6

Contents
Research at HEC: My Opinion
Why CEOs Nearing Retirement are Averse to RiskGovernance Certification
Building Innovation by Strengthening Bridges
Rating agencies and firms: the attribution of ratingsproperty rights

research@hec - Issue #6