Michel ALBOUY is senior professor of finance at Grenoble Ecole de Management and emeritus professor at Grenoble Alpes University. He was also visiting professor at the University of Genève, the University of Québec at Montréal, at the University of Indonesia at Jakarta and at Shanghai University. As a senior consultant he has a long experience of business education for exécutives. He has been a member of the Scientific committee of the French security exchange commission (AMF, 2004-2013) and an expert for the Evaluation Agency for Research and Higher Education (AERES) in Paris. The broad area of his research is corporate finance: investment decisions, financing, firm valuation, mergers & acquisitions, corporate governance. He is on the editorial board of the Revue Française de Gestion and of the review Finance-Contrôle-Stratégie. He holds an engineering degree from the Ecole Nationale Supérieure d'Arts et Métiers (Paris), a master in economics and finance (Dauphine university) and a Ph.D. in Business Administration from the University of Texas (Austin). Specialized in Corporate finance and financial markets, he has published some hundred articles in leading finance and management journals (Bankers Markets & Investors, Finance, Finance-Contrôle-Stratégie, Revue Française de Gestion, etc.) and in professionals journals. He has also published several books: "Décision Financière et Création de Valeur", 2e ed., Economica, Paris, 2003 ; OPA, OPE et LBO, Economica, Paris, 2008 (with C. Bonnet), and Finance Immobilière et Gestion de Patrimoine, Economica, Paris, 2009.