BARONI Michel

Michel Baroni, HEC, PhD in management and qualified to supervise research (French Habilitation à Diriger des Recherches), is a professor at ESSEC in the finance department. He is currently Dean of Professors and Academic Director of the Real Estate Management Master's program. He teaches real estate finance at ESSEC. His areas of research include real estate risk measurement, real estate indices, derivatives and real estate portfolio management, and he has published numerous academic articles in the field of real estate finance. He is also a Fellow of the Royal Institution of Chartered Surveyors (FRICS) and a member of the Scientific Advisory Board of Meilleurs Agents.

• 2010 : Habilité à Diriger des Recherches (HDR) (Université Paris X Nanterre, France)
• 2010 : Habilité à Diriger des Recherches (HDR) (Université Paris X Nanterre, France)
• 2002 : Doctorate in Management Sciences (Université Paris X Nanterre, France)
• 2002 : Doctorate in Management Sciences (Université Paris X Nanterre, France)
• 1978 : Diplôme d'Etudes Supérieures Economiques (DESE) (Conservatoire National des Arts & Métiers (CNAM), France)
• 1978 : Diplôme d'Etudes Supérieures Economiques (DESE) (Conservatoire National des Arts & Métiers (CNAM), France)
• 1977 : Diplôme d'Etudes Comptables Supérieures (DECS) (Ministère de l'Education Nationale, France)
• 1977 : Diplôme d'Etudes Comptables Supérieures (DECS) (Ministère de l'Education Nationale, France)
• 1976 : MSc of Science in Management (HEC Paris, France)
• 1976 : MSc of Science in Management (HEC Paris, France)

• 1978 : Certificat Supérieur d'Expertise Comptable "Relations économiques" (Ministère de l'Education Nationale, France)
• 1978 : Certificat Supérieur d'Expertise Comptable "Relations économiques" (Ministère de l'Education Nationale, France)

Full-time academic appointments

• 2009 - Present : Professor (ESSEC Business School, France)
• 2005 - 2009 : Associate Professor (ESSEC Business School, France)
• 2000 - 2005 : Assistant Professor (ESSEC Business School, France)

Other Academic Appointments

• 2018 - 2024 : Dean of Faculty (ESSEC Business School, France)

• 2006 : Prize of the American Real Estate Society (ARES) Foundation for the Best Paper Presented at the ERES 2006 Conference in any area of Real Estate for the paper entitled "Optimal holding period for a Real Estate Portfolio" with F. Barthélémy and M. Mokrane
• 2006 : Prize of the American Real Estate Society (ARES) Foundation for the Best Paper Presented at the ERES 2006 Conference in any area of Real Estate for the paper entitled "Optimal holding period for a Real Estate Portfolio" with F. Barthélémy and M. Mokrane

• AMEDEE-MANESME, C.O., BARTHELEMY, F. and BARONI, M. (2020). Un nouveau paradigme de la dynamique des rendements immobiliers parisiens. Revue Economique, 71(4), pp. 751-765.
• AMÉDÉE-MANESME, C.O., BARONI, M., BARTHELEMY, F. and DES ROSIERS, F. (2017). Market Heterogeneity, Investment Risk and Portfolio Allocation: Applying Quantile Regression to the Paris Apartment Market. International Journal of Housing Markets and Analysis, 10(5), pp. 641-661.
• AMÉDÉE-MANESME, C.O., BARONI, M., BARTHELEMY, F. and DES ROSIERS, F. (2017). Market heterogeneity and the determinants of Paris apartment prices: A quantile regression approach. Urban Studies, 54(14), pp. 3260-3280.
• AMEDEE-MANESME, C.O., BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2015). The Impact of Lease Structures on the Optimal Holding Period For a Commercial Real Estate Portfolio. Journal of Property Investment and Finance, 33(2), pp. 121-139.
• AMEDEE-MANESME, C.O., BARTHELEMY, F., BARONI, M. and DUPUY, E. (2013). Combining Monte Carlo Simulations and Options to Manage the Risk of Real Estate Portfolios. Journal of Property Investment and Finance, 31(4), pp. 360-389.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2011). A repeat sales index robust to small datasets. Journal of Property Investment and Finance, 29(1), pp. 35-48.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2008). Un nouvel indice de risque immobilier pour le marché résidentiel parisien. Revue Economique, 59(1), pp. 99-118.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2007). A PCA Factor Repeat Sales Index for Apartment Prices in Paris. Journal of Real Estate Research, pp. 137-158.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2007). Optimal Holding Period for a Real Estate Porfolio. Journal of Property Investment and Finance, pp. 603-625.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2007). Using Rents and Price Dynamics in Real Estate Portfolio Valuation. Property Management, pp. 462-486.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2005). Real Estate Prices: A Paris Repeat Sales Residential Index. Journal of Real Estate Literature, pp. 303-321.
• BARONI, M. (1988). Le capital représente-t-il un coût pour l'entreprise? Hommes et Commerce.

• BARONI, M. and ROSENBERG, C. (1995). Gestion financière de l'entreprise : logiques, politique, stratégie. Paris: ESF.
• BARONI, M. and ROSENBERG, C. (1992). Exercices et cas : gestion financière de l'entreprise. Paris: ESF.

• BARONI, M. (2012). Financial Markets: A Tool for Transferring and Managing Risk? In: Free Markets and the Culture of Common Good. 1st ed. Springer, pp. 153-164.

• BARONI, M. (2010). HDR. France.

• BARONI, M. (2018). An Index to Forecast Housing Returns. In: 25th European Real Estate Society (ERES) Annual Conference 2018.
• BARONI, M., AMÉDÉE-MANESME, C.O. and BARTHELEMY, F. (2017). A Changing Model for Real Estate Returns: A Factorial Approach. In: 24th Annual Conference of the European Real Estate Society (ERES).
• BARONI, M., AMEDEE-MANESME, C.O., BARTHELEMY, F. and DES ROSIERS, F. (2016). Segmenting the Paris Residential Market Using a Principal Component Analysis. In: 23rd Annual Conference European Real Estate Society (ERES).
• AMÉDÉE-MANESME, C.O., BARONI, M., DES ROSIERS, F. and BARTHELEMY, F. (2015). Market Heterogeneity, Investment Risk and Portfolio Allocation – Applying Quantile Regression to the Paris Apartment Market. In: 32nd International Conference of the French Finance Association (AFFI).
• BARONI, M. (2014). Market Heterogeneity and Investment Risk. In: European Real Estate Society 21st Annual Conference.
• BARONI, M. (2013). Market Heterogeneity and Determinants of Paris Apartment Prices: A Quantile Regression Approach. In: 20th Annual Conference of the European Real Estate Society.
• BARONI, M. (2012). Optimum Time to Sell a Real Estate Portfolio Given the Break-Options Included in its Lease Structure. In: 28th Annual American Real Estate Society Meeting.
• AMEDEE-MANESME, C.O., BARONI, M., BARTHELEMY, F. and DUPUY, E. (2011). Long-term Inflation Hedging Properties of Direct Real Estate Investment: A Methodology to Study Inflation's Protection Given the Lease Structure and the Indexation Uses. In: 27th Annual American Real Estate Society Meeting.
• BARONI, M. (2010). Financial Markets: A Tool for Transferring and Managing Risk? In: Free Markets and the Culture Of Common Good.
• BARONI, M., BARTHELEMY, F. and DES ROSIERS, F. (2009). Addressing House Price Appreciation in a Heterogeneous Maret. The Case of the Paris Apartment Market, 1990-2006. In: ENHR09 Prague - Changing Housing Markets: Integration and Segmentation.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2009). Segmenting the Paris Residential Market According to Temporal Evolution and Housing Attributes. In: Annual Conference ERES 2009.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2008). A Repeat Sales Index Robust to Small Datasets.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2007). Constructing a New Real Estate Risk Index for the Paris Residential Market.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2007). Is it Possible to Construct Derivatives for the Paris Residential Market?
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2005). Monte Carlo Simulations versus DCF in Real Estate Portfolio Valuation.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2003). Risk Factors for the Physical Real Estate: A Factorial Index for the Paris Residential Market and Its Comparison to Existing Indices.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2003). Which Capital Growth Index for the Paris Residential Market?
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2002). Comparison of Real Estate Indices for Paris: Can we Detect the So-called Bubble?

• AMEDEE-MANESME, C.O., BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2014). The Impact of Lease Structures on the Optimal Holding Period for a Commercial Real Estate Portfolio. ESSEC Business School.
• AMEDEE-MANESME, C.O., BARONI, M., BARTHELEMY, F. and DUPUY, E. (2011). Combining Monte Carlo Simulations and Options to Manage the Risk of Real Estate Portfolios. ESSEC Business School.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2009). A Repeat Sales Index Robust to Small Datasets. ESSEC Business School.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2007). Is It Possible to Construct Derivatives for the Paris Residential Market? ESSEC Business School.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2007). Optimal Holding Period for a Real Estate Portfolio. ESSEC Business School.
• BARONI, M., BARTHELEMY, F. and MAHDI, M. (2005). A PCA Factor Repeat Sales Index (1973-2001) to Forecast Apartment Prices in Paris. ESSEC Business School.
• BARONI, M., BARTHELEMY, F. and MAHDI, M. (2004). Physical Real Estate: A Paris Repeat Sales Residential Index. ESSEC Business School.
• BARONI, M., BARTHELEMY, F. and MAHDI, M. (2004). The Paris Residential Market: Driving Factors and Market Behaviour 1973-2001. ESSEC Business School.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2003). Which Capital Growth Index for the Paris Residential Market? ESSEC Business School.
• BARONI, M., BARTHELEMY, F. and MOKRANE, M. (2001). Physical Real Estate: Risk Factors and Investor Behavior. ESSEC Business School.

• BARONI, M. (1996). L'Éthique dans les activités financières.

• 2002 - 2020 : Finance immobilière (Grande Ecole - Master in Management ESSEC Business School France)
• 2002 - 2020 : Finance immobilière (Grande Ecole - Master in Management ESSEC Business School France)
• 2000 - 2020 : Finance immobilière (Master Management Immobilier ESSEC Business School France)
• 2000 - 2020 : Finance immobilière (Master Management Immobilier ESSEC Business School France)
• 2000 - 2018 : Politique financière (Grande Ecole - Master in Management ESSEC Business School France)
• 2000 - 2018 : Politique financière (Grande Ecole - Master in Management ESSEC Business School France)