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 Thierry Foucault, HEC Foundation Chaired Professor of Finance


Research: SSRN Author page, Google scholar; IDEAS/RePEc; CV: Here; Profile: Here; HEC Paris Finance dpt: Here

I work on the determinants of financial markets liquidity and informativeness, the industrial organization of these markets, and their effect on the real economy. My most recent papers are on Big Data and new trading technologies, OTC markets,  and the effects of stock markets on firms’ decisions (investment, product choices etc.). In 2021, I received a European Research Council (ERC)  Advanced Grant for a five years research project on the impact of Big Data and Artificial Intelligence on financial markets and corporate investment.

My working papers are available here and my published papers here.

Some of my recent published works:


16th Annual Central Bank Conference on the Microstructure of Financial Markets, October 2021: More information here.

I am co-editor of the Review of Asset Pricing Studies. We recently published a special issue on the Covid 19 pandemics and financial markets with a contribution from Lars Peter Hansen. Papers from this issue can be accessed for free here.