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Defended PhD Dissertations

2025

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GAGLIARDI Nicola
Essays on Wages and Productivity: The Role of GVCs, Tenure and Global Warming
Director:  François Rycx - Defense on January 14, 2025
​Current job : -

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2024

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BANAO Fawzi
“Three essays on the empirics of conflict and resource mobilization in Africa”
Director: Pierre-Guillaume Méon - Defense on December 20, 2024
​Current job : -

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DE COCK Valérie
“Organizational Decoupling in Diversity Equity and Inclusion (DEI): From its Evidence in Organizations to its Impact on Workers”
Co-Directors: Claudia Toma & Pinar Celik - Defense on December 10, 2024
​Current job : -

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GHALLADA Youssef
Gold, Trade and Sterling Bills of Exchange: A Quantitative Study of the Trade-Finance Nexus during the First Wave of Globalization
Director:  Kim Oosterlinck & Alexandre Girard - Defense on Septembre 5, 2024
​Current job : -

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NSONSUMUNA Jean
Les conditions de succès du lancement d’une plateforme de crowdfunding en République démocratique du Congo (RDC)
Co-Directors:  Olivier Witmeur & Mathias Schmit - Defense on August 20, 2024
​Current job : -

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REYNS Ariane
Alternative Currency Systems and Resilience to Crises 
Co-Directors: Marek Hudon & Koen Schoors - Defense on May 2, 2024
​Current job : Economist at Federal Planning Bureau
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MURHULA CUBAKA Patrick
Ownership, Governance and Sustainability of Financial Cooperatives in Microfinance
Co-Directors: Marc Labie & Eddy Balemba (Université de Mons) - Defense on June 13, 2024
​Current job : 
Lecturer, Researcher and Independant Consultant

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2023

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LAGIOS Nicolas
Four Essays in Applied Microeconomics
Director: Pierre-Guillaume Méon - Defense on December 13, 2023
​Current job : Assistant Professor in Economics at Nazarbayev University (Astana, Republic of Kazakhstan)

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PINEDA HERNANDEZ Kevin
Wages, Over-education and Poverty: The Role of Origin and Institutions
Director: François Rycx & Mélanie Volral (Université de Mons) - Defense on November 9, 2023
​Current job : Post Doctoral Researcher - SBS-EM
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MOLINARI Laura
Essays on Infrastructure Asset Management
Director: Vincent Mabillard (co-director) - Defense on September 15, 2023
​Current job : Professor and Postdoctoral Researcher at Vrije Universiteit Brussel


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FAYS Valentine
Immigration and the Labour Market : An Empirical Investigation of Wages, Productivity and Workers’ Substitutability
Director: François Rycx - Defense on August 30, 2023
​Current job : -

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2022

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LEDUC Elisabeth
Essays on the Effects of Labour Market Programs Targeted at Vulnerable Groups
Director: Ilan Tojerow - Defense on December 22, 2022
​Current job : Post Doctoral Researcher - Erasmus University Rotterdam

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PITON Céline
The Labour Market Performance of Vulnerable Groups: Towards a better Understanding of the Main Driving Force
Director: François Rycx - Defense on December 15, 2022
​Current job : Economist at the National Bank of Belgium

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FONTENAY Sebastien
Essays on Three Social Insurance Programs – Design & Consequences for Work and Family Decisions
Director: Ilan Tojerow - Defense on July 4, 2022
​Current job : Marie Skłodowska-Curie fellow at the Universitat Pompeu Fabra (Barcelona, Spain) and Assistant Professor (visiting) in the Department of Economics at the University of Alcalá (Madrid, Spain)
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ESTERZON Emilie
Essays on Communication Effectiveness in Non-profit Organizations
Director: Sandra Rothenberger - Defense on April 4, 2022

​Current job : Profesora visitante (marketing) Universitat de les Illes Balears
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JACOBS Valentine
The role of educational mismatch according to workers' countries of birth
Co-directors: François Rycx & Mélanie Volral - Defense on February 21, 2022
​Current job : Economist at the National Bank of Belgium


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CABALLERO-MONTES Tristan
Microfinance and Industry Dynamics: Analyses of Regulation, Competition, and Collective Action
Co-directors: Prof. Marc Labie (UMONS & ULB, BE) and Dr Cécile Godfroid (UMONS, BE). Defense on January, 2022
​Current job : Performance manager in the Belgian health care industry


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2021

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HASSOUNI Afrae
Assessing Portfolio Performance Using a Non-parametric Approach
Co-directors: Laurent Gheeraert & Hugues Pirotte - Defense on December 21, 2021

Current job : Senior Quantitative Analyst Risk Modelling at Belfius

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GIOLITO Vincent
The Role of Executive Leadership in the Management of Strategic Errors
Director: Jan Mattijs - Defense on
October 08, 2021
​Current job : Professeur associé, Stratégie & Organisation, emlyon business school (Lyon)

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NOUVELLON Edouard
Comparison between the Option Pricing Framework and Traditional "Market Premium-based" Asset Pricing
Director: Hugues Pirotte - Defense on September 08, 2021
Current job : 
Administrateur Fondateur du cabinet de conseil Risk Return
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KOUEVI-GATH Beni
Economie politique du développement financier 
Co-directors: Antonio Estache & Pierre-Guillaume Méon - Defense on June 23, 2021

Current job : Economiste au Bureau Fédéral du Plan
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SERRES Coline 
Social economy and the commons 
Co-director: Marek Hudon & Tom Dedeurwaerdere (UCL) - Defense on June 22, 2021
Current job : Chairholder ChairES - ULB & Postdoctoral Researcher

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EL IMAYEM Nesrine
Comment calculer le montant de la pension alimentaire pour les enfants en cas de divorce? Elaboration d’une méthode objective dans le contexte belge
Co-directors: Ilan Tojerow & Robert Plasman - Defense on January 28, 2021
Current job : 
Teaching Assistant @DULBEA, ULB


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2020

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ERTAC Dizem
Investigating the effects of environmental and energy policies in Turkey using an energy-disaggregated CGE model
Co-directors: Michele Cincera & Ali H. Bayar - Defense on December 14, 2020
Current job : 
Lecturer in Economics, Near East University

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NYARKO Samuel Anokye 
Essays on the Performance, Subsidization and Internationalization of Social Enterprises
Co-directors: Roy Mersland & Ariane Szafarz - Defense on April 23rd, 2020
​Current job : 
Postdoctoral Researcher at Montpellier Business School

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D'UDEKEM Benoit 
Essays on Bank Opaqueness
Director: Ariane Szafarz - Defense on September 2nd, 2020
​​Current job : 
Vice President at Analysis Group

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2019

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LACROIX Jean
On democratic transitions, autocratic reversals and their consolidation.
Co-directors: Pierre-Guillaume Méon & Khalid Sekkat - Defense on October 1, 2019
Current job : 
Assistant Professor (Maître de conférences) - Université Paris-Saclay


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RENIER Laetitia
Meta-perception at Work: Empirical and Theoretical Evidence for the inclusion of Meta-Perception and its Accuracy in Organizational Behavior.
Director: Claudia Toma - Defense on April 30, 2019
Current job :
Senior FNS Researcher

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GILSON Matthieu
Empirical evidence on time-varying risk attitudes.
Director: Kim Oosterlinck - Defense on September 5, 2019
Current job :
Cofounder @ Evoluno | Creating digital tools to improve mental health in the workplace


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PETERS Marc
Central Counterparties: from the Bank-Sovereign Nexus to a Credible Recovery and Resolution Regime.
Director: Hugues Pirotte - Defense on July 3, 2019
Current job :
Policy Officer chez European Commission

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2018

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REICHERT Patrick
Subsidies, Profits and Trade-offs in Social Finance: Applications to Microfinance.
Co-directors: Ariane Szafarz & Marek Hudon - Defense on July 3, 2018
Current job: Post-doctoral Research Fellow (SW, IMD Business School - elea Chair for Social Innovation)

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DESCHAMPS Carl
Performance Management and Control Systems in Public Services: Interpretation and Assessment Based on Mixed-Methods Case Studies.
Director: Jan Mattijs - Defense on March 9, 2018
Current job: Postdoctoral Fellow, Jarislowsky Chair in Public Sector management (CA, University of Ottawa)
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DATO Muluneh Hideto
Corporate Governance in Microfinance. Joint PhD with University of Agder (Norway).
Co-Directors: Marek Hudon and Roy Mersland (Agder University) - Defense on February 8, 2018
​Current job: -
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2017

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THERY Amélie
Analyse des interactions dans les groupes : de la détermination des types d'interactions aux liens avec la performance, la satisfaction et le conflit perçu.
Director: Michel Verstraeten - Defense on December 15, 2017
Current job: Responsable de service ULB – Consultante en management

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GÖRTZ Nicolas
Approche marxiste des trajectoires des organisations syndicales. Etude de cas de la CSC et de la FGTB.
Director: Michel Verstraeten - Defense on October 24, 2017

Current job: Permanent syndical (BE, CSC Alimentation et Services / ACV Voeding en Diensten)
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JOACHAIN Hélène
Complementary Currencies and Environmental Sustainability.
Director: Marek Hudon - Defense on September 4, 2017

Current job: Senior researcher (BE, CERMi - Université libre de Bruxelles)
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MEYER Camille
Social Finance and Common Goods
Director: Marek Hudon - Defense on April 21, 2017

Current job: Postdoctoral fellow (CA, University of Victoria)
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2016

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VERMEYLEN Guillaume
The Impact of Educational Mismatch on Firm Productivity, Wages and Productivity-Wage Gaps in Different Working Environments. Joint PhD with UMons.
Co-directors: Prof. Marc Labie (UMONS & ULB, BE) and Dr Cécile Godfroid (UMONS, BE).
Co-Directors: Benoît Mahy (UMons) and François Rycx - Defense on September 23, 2016
Current job: Postdoctoral Fellow (BE, UMONS)

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SERGHINI IDRISSI Aïcha
Job performance evaluations as gender barriers in male dominated organizations and occupations.
Director: Michel Verstraeten - Defense on June 27, 2016

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LORENT Benjamin
Treatment of Market Risks under Solvency II and its Market Implications.
Co-directors: Hugues Pirotte and Ariane Chapelle (UCL - UK) - Defense on June 21, 2016
Current job: Lecturer in Finance and Insurance (BE, SBS-EM) and Solvency II Consultant

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DAVID Géraldine
Art as an Investment: A Historical Perspective. Joint PhD with Tilburg University.
Directors: Kim Oosterlinck and Luc Renneboog - Defense on June 27, 2016

Current job: BAEF Post-Doctoral research fellow (US, Yale University)
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POSTELNICU Luminata
Social Capital and the Repayment of Microfinance Group Lending.
Co-directors: Ariane Szafarz and Niels Hermes (University of Groningen) - Defense on January 20, 2016
Current job: Data Scientist (BE, Mentis Consulting)
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CIESLIK Katarzyna
Micro-Entrepreneurs in Rural Burundi: Innovation and Contestation at hte Bottom of the Pyramid.
Co-directors: Marek Hudon and Philip Verwimp - Defense on January 4, 2016

Current job: Postdoctoral Fellow (NL, Wageningen UR)

2015

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DUVIVIER Florence
Global Mobility of People in Offshore Outsourcing and Insourcing Arrangements.
Director: Carine Peeters - Defense on October 14, 2015

Current job: Assistant Professor, Strategy Department (FR, NEOMA Business School Campus Rouen
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SCHWAB Pierre-Nicolas
Online complaint handling practices and the role of politeness in firm-customer interactions.
Director: Sandra Rothenberger - Defense on October 12, 2015

Current job: Director (BE, IntoTheMinds, market research agency)
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TACKX Koen
The Role of Fair Process and Co-Creation for Strategic Management and Corporate Performance.
Director: Paul Verdin - Defense on June 22, 2015
Current job: Professor (BE, Vlerick Business School)

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GARNERO Andrea
Institutions and Heterogeneity in the Labour Market.
Co-directors: François Rycx and Philippe Askenazy - Defense on January 16, 2015
Current job: Economist (FR, OCDE, Paris)
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2014

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MINNE Geoffrey 
The Role of Information in Exchange Rate Policy and Reaction of Banks during the 2007/08 Crisis.
Co-directors: Pierre-Guillaume Méon and Micael Castanheira - Defense on October 1, 2014

Current job: Advisory economist (BE, ING)
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LAURETI Carolina
Product Design in Microfinance.
Joint PhD with UMons
Co-directors: Marc Labie (UMons) and Ariane Szafarz - Defense on August 21, 2014
Current job: Chargée de recherche - FNRS (BE, ULB)
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KLAUS BERNHARD Michel
Economic and environmental Causes and Consequences of Offshoring. An empirical Assessment.
Director: François Rycx - Defense on June 20, 2014
Current job: Economist (BE, Belgian Federal Planning Bureau, Structural Studies and Input-Output Divisions)
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VAN HOVE Lucy
L'impact et les facteurs-clés de succès du coaching professionnel: une analyse longitudinale auprès de cadres.
Co-directors: Alain Eraly and Michel Verstraeten - Defense on April 8, 2014

Current job: Lecturer in Human Resources Management (BE, SBS-EM) & Executive Coach
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2013

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GÖRANSSON Marie
Des mécanismes de responsabilisation des hauts fonctionnaires: leur intégration et leur impact dans le système exécutif politico-administratif. Analyse du cas belge et mises en perspectives étrangères.
Co-directors: Alais Eraly and Michel Verstraeten - Defense on June 24, 2013

Current job: Assistant Professor (BE, ULB)
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DEWAELE Benoît
On the Performance of Hedge Funds.
Director: Hugues Pirotte - Defense on May 28, 2013

Current job: Associate (BE, Mckinsey)
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ALLET Marion
Microfinance and the Environmental Bottom Line.
Co-directors: Marek Hudon and J-Y Moisseron (Paris-1) - Defense on February 21, 2013

Current job: Senior Programme Officer Environment & Microfinance (FR, Pamiga)
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SCHICKS Jessica
The Over-Indebtedness of Microfinance Custumors.
Director: Marek Hudon - Defense on January 15, 2013

Current job: Chief Operations Officer (ZM, AB Zambia - LFS Financial Systems)

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2012

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VU TUAN Anh
Essays on the Innovation and Interllectual Property System in Vietnam.
Director: Bruno van Pottelsberghe - Defense on December 20, 2012

Current job: Director of Business Consulting Center (VN, Faculty of Business Management - National Economics University)
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ROJAS GAVIRIA Pilar
Three Essays on How Sharing and Consuming Support Home Place Reconnection in Contemporary Liquid Times.
Director: Christian Bluemelhuber - Defense on December 18, 2012

Current job: Affiliated Professor (PE, Esan Graduate School of Business, Lima)
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SAKUMA Kyoko
Conformance and Non conformance of Asset Managers to Environment Social and Government Pressures. Sensemaking capacities and the use of externally defined information.
Director: Manuel hensman - Defense on June 18, 2012

Current job: Senio Advisor (BE, Avisa Partners)
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SUKADI MATA Ritha
Microfinance and Remittances.
Co-directors: Marc Labie (UMons) and Daniel Traça - Defense on April 30, 2012

Current job: Evaluation Expert (ADE - Analysis for Economic Decisions)
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COLLET Stéphanie
Sovereign Bonds: Odious Debts and State Succession.
Director: Kim Oosterlinck - Defense on April 27, 2012

Current job: Assistant Professor (FR, ESCP Europe)
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EMONTSPOOL Julie
Consumption discourses as positioning strategies for international migrants.
Director: Christian Bluemelhuber - Defense on February 7, 2012

Current job: Assistant Professor (DK, University of Southern Denmark)
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LEVY Marc
Shareholders' Control in Complex Corporate Structures.
Director: Ariane Szafarz - Defense on January 13, 2012

Current job: Senior risk manager (BE, Belfius)
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ZINDLER Karin
Essays on Corporate Social Responsibility in Germany and Spain.

Co-directors: Paul Verdin and Nigel Room - Defense January 13, 2012

2011

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DRUT Bastien 
Socially Responsible Investment and Portfolio Selection.
Co-directors: Kim Oosterlinck and Ariane Szafarz - Defense on October 5, 2011

Current job: Strategist (FR, CPR Asset Management)

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CORDIER Mateo
Ecosystème estuarien et système économique régional: faisabilité d'une intégration par modélisation input-output. Application au cas de l'habitat halieutique dans l'estuaire de la Seine.
Co-directors: Martin O'Connor (Versailles), Walter Hecq and Christiana Lancelot - Defense on June 30, 2011

Current job: Lecturer (FR, Université de Versailles-Saint-Quentin-enYvelines)

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MATHIEU Azèle
Essays on the Entrepreneurial University.
Director: Bruno van Pottelsberghe - Defense on June 15, 2011

Current job: Financial Expert (BE, The Brussels Enterprise Agency ABE - BEA)

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DE SCHEEMAEKERE Xavier
Essays in Mathematical Finance and in the Epistemology of Finance.
Co-directors: Hugues Pirotte and Ariane Szafarz - Defense on May 19, 2011

Current job: Quantitative Developer (BE, KBC Asset Management)

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VANROOSE Annabel
The uneven development of the microfinance sector.
Co-directors: Kim Oosterlinck and Leo Van Hove (VUB) - Defense on February 25, 2011

Current job: Professor (PE, Economics and Business Department - Universidad de Piura)

2010

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HAMELIN Anaïs
Contrôle, financement et croissance des petites et moyennes entreprises.
Co-directors: Michel Dietsch and Ariane Szafarz - Defense on November 25, 2010

Current job: Lecturer in Management (FR, Université de Strasbourg)

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BRUNK Katja
Essays on Consumer Perceived Ethicality (CPE) of Companies and Brands.
Director: Chrisitan Bluemelhuber - Defense on September 24, 2010

Current Job: Research Fellow (DE, ESMT, European School of Management and Technology)

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de RASSENFOSSE Gaétan
Essays on the propensity to patent: measurement and determinants.
Director: Bruno van Pottelsberghe - Defense on May 28, 2010

Current job: Assistant Professor (CH, Ecole Polytechnique fédérale de Lausanne)

2009

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GHEERAERT Laurent
Financial systems: essays on the cultural determinants and the relevance for economic development.
Co-directors: Ariane Chapelle and Daniel Traça - Defense on December 17, 2009

Current job: Professor (BE, ULB)

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FOUILLET Cyril
La construction spatiale de la microfinance.
Co-directors: Marek Hudon and Jean-Michel Servet - Defense on October 16, 2009

Current job: Professor (FR, Essca Business School)
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MARECHAL Kevin
The economics of climate change and the change of climate in economics: the implications for climate policy of adopting an evolutionary perspective.
Co-directors: Assaad Alia Azzi and Walter Hecq - Defense on September 11, 2009

Current job: Senior researcher (BE, ULB)
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MOURRE Gilles
Five essays on performance and structural rigidities in European labour markets.
Co-directors: Khalid Sekkat and Eric Strobl - Defense on June 23, 2009

Current job: Head of Unit, DG Economic and Financial Affairs, Revenue management and tax policy issues Unit (BE, European Commission)

2008

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EL BATTIUI Mohamed
L'eau au Moyen-Orient: entre gestion et instrumentalisation.
Co-directors: Bertrand Mareschal and Firouzeh Nahavandi - Defense on June 20, 2008

Current job: Professor (BE, Haute Ecole Francisco Ferrer)

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van ZEEBROECK Nicolas
Essays on the empirical analysis of patent systems.
Co-directors: Hugues Bersini and Bruno van Pottelsberghe - Defense on Marc 13, 2008

Current job: Professor (BE, ULB)

2007

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SAPSALIS Eleftherios
Essays on the value of academic patents and technology transfer.
Director: Bruno van Pottelsberghe - Defense on June 12, 2007

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BOZKAYA Ant
Essays in entrepreneurial finance.
Director: Bruno van Pottelsberghe - Defense on June 12, 2007

Current job: Scholar, international senior executive, entrepreneur, and management consultant (US, MIT and UC Berkeley)

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NICODEME Gaëtan
Essays on the Empirics of Capital and Corporate Tax Competition.
Co-directors: Mathias Dewatripont and Peter Praet - Defense on June 5, 2007

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HUDON Marek
Ethics and Public Policy in Microfinance.
Director: André Faber - Defense on May 4, 2007

Current Job: Professor (BE, ULB)

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ROMAIN Astrid
Essays in the Empirical Analysis of Venture Capital and Entrepreneurchip.
Director: Bruno van Pottelsberghe - Defense on February 9, 2007

Current job: Manager (BE, Institut Bruxellois de Statistique et d’Analyse)

2006

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HAVERALS Jacqueline
Analyse de la connexion entre les droits comptable et fiscal belges à la lumière du principe de limage fidèle.
Co-directos: Faska Khrouz and Pascal Minne - Defense on September 30, 2006

Current job: Managing Director (CH, Onyx Consulting GmbH)

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LOULIT Ahmed
aluing credit risky bonds: generalizations of first passage models
Director: André Faber - Defense on September 13, 2006

2005

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LUKUITSHI-LUA-NKOMBE Malika Albert
Essai sur le système financier de la République Démocratique du Congo. Une contribution à l'amélioration de la supervision bancaire.
Director: André Faber - Defense on September 16, 2005

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VERSTRAETEN Michel
Stratégie et rôle des consultants dans les changements organisationnels.
Director: Alain Eraly - Defense on September 6, 2005

Current job: Professor (BE, ULB)

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EYADA AYISSI Théophile 
Gestion des opérations de privatisation et de performance des entreprises privatisées. Cas de la Communauté Economique et Monétaire de l'Afrique Centrale.
Director: Anne Drumaux - Defense on May 9, 2005

Current job: Coordinator (CM, Université Catholique d'Afrique Centrale)

2004

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QUAN HOANG Vuong
Essays on Vietnams's Financial Markets: Databases and Empirics.
Co-directors: André Faber and Ariane Szafarz - Defense on October 10, 2004

Current job: Research Scientist (VN, DHVP Research)

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LAURENT Marie-Paule
Essays in Financial Risk Management.
Co-directors: André Farber and Ariane Szafarz - Defense on September 14, 2004

Current job: Managing Partner (BE, Rosk Dynamics)

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PEETER Carine
Essays on Innovation Competencies and Firms Performance.
Director: Bruno van Pottelsberghe - Defense on June 14, 2004

Current job: Associate Professor (BE, Vlerick Business School)

2003

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MORTEHAN Olivier
Etudes des Aspects Stratégiques du Processus de Formation d'Accords de Collaboration chez les grands constructeurs informatiques.
Director: Faska Khrouz - Defense on December 11, 2003

Current job: Professor (BE, ULB)

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OOSTERLINCK Kim
Sovereign debts in troubled times.
Director: Ariane Szafarz - Defense on November 7, 2003

Current job: Professor (Be, ULB)

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SCHMIT Mathias
Leasing as a Corporate Financing Tool: Leasing Puzzle, Accounting Debate and Credit Risk Empirical Investigation.
Director: André Farber - Defense on June 18, 2003

Current job: Professor (BE, ULB)

2002

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VENKAT SUBBAN Subramanian
Drivers of Performance: Examining the External and Internal Sources of Value Creation.
Director: Paul Verdin - Defense on December 20, 2002
​Current job: 
Associate Dean and Associate Professor of Strategy at Nazarbayev University Graduate School of Business
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