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Member of CNRS-GREGHEC Research Group

Thierry Foucault is Professor of Finance at HEC, Paris and a research fellow of the Centre for Economic Policy (CEPR). He has a Ph.D in Finance from HEC, Paris and he has taught in various institutions, e.g., Universitat Pompeu Fabra (Spain), Carnegie Mellon University (USA), Ecole Polytechnique Fédérale de Lausanne (Switzerland), Studienzentrum Gerzensee (Switzerland), Saïd Business School at Oxford, the Tinbergen Institute (Netherlands). His research focuses on the determinants of financial markets liquidity, the industrial organization of these markets, and their effect on the real economy. It is published in top-tier academic journals such as Journal of FinanceReview of Financial Studies , or Journal of Financial Economics . He has received research awards from the Europlace Institute of Finance, the HEC Foundation, and the Analysis Group award for the best paper on Financial Markets and Institutions presented at the 2009 Western Finance Association (WFA) meetings. He serves or has served on the scientific committees of the Autorité des Marchés Financiers (AMF), the Research Foundation of the Banque de France, the Group of Economic Advisors of the Committee of Economic and Markets Analysis of the European Securities and Markets Authority (ESMA) and was a member the executive committee of the European Finance Association (EFA). He is currently an Associate Editor of the Journal of Finance, The Review of Financial Studies,  and the Review of Asset Pricing Studies . He also was co-editor of the Review of Finance  from 2009 to 2013. He co-authored, with Marco Pagano and Ailsa Röell, “Market  Liquidity: Theory, Evidence, and Policy ”, a textbook on market liquidity published by Oxford University Press in 2013.

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