Contact information

  • Official HEC webpage: here
  • Address: Dpt of Finance, HEC, 1 rue de la Libération, 78351 Jouy en Josas
  • Phone-direct: (33) (0)1 39 67 95 69; Fax: (33) (0)1 39 67 70 85;
  • E.Mail : foucault (at) hec (dot) fr
  • SSRN Author page: http://ssrn.com/author=57561
  • Others: If you have troubles getting in touch with me, please contact Mrs Véronique Salat at: (33)(0)139679605


  • Summer School on Market Microstructure (June 2017)-Details (registration etc.): Here.
  • Market Microstructure: Confronting Many Viewpoints #4 (Dec 6 to 9, 2016). Program and Registration: Here

I work on the determinants of financial markets liquidity and volatility, the industrial organization of these markets, and their effect on the real economy. My most recent papers are on the costs and benefits of high frequency trading, the determinants of stock price informativeness and its effect on firms’ decisions (investment, product choices etc.). See below.

Stock Price Informativeness and Firms’ Decisions

Ripple Effects of Noise on Corporate Investment” with Olivier Dessaint, Laurent Frésard, and Adrien Matray. December 2015. To be presented at the NBER Corporate Finance Meeting (program here) and American Finance Association Meetings, 2017. 

“Corporate Strategy, conformism, and the stock market” with Laurent Frésard. Revised: January 2016. Presented at WFA meetings 2016.

Big Data and Financial Markets

“Data Abundance and Asset Price Informativeness”,  with Jérôme Dugast, February 2016. To be presented at American Finance Meetings 2017.

High Frequency Trading