Thierry FoucaultI was awarded myt PhD at HEC Paris in 1994. After teaching in Spain and the USA, I joined the HEC Finance Department in 1998 and have been teaching finance here ever since in the school’s various programs, while continuing my research on questions relating to liquidity and volatility of financial markets.
It was research into the impact of market organization on its liquidity and volatility. Among other things I established, along with various co-authors, that the orders placed on the Paris Stock Exchange contain information about future volatility. This is an important result for valuation of financial products such as options, not yet established for the American markets due to lack of adequate data.
I give a course on the causes of financial market illiquidity and the strategies devised by traders and portfolio managers to minimize the impact of illiquidity on their performance. This is a theme of the utmost importance for brokers, traders and portfolio managers. It is right at the heart of current debate in the financial industry, for example the debate arising from the new European directive (MiFID).
Choose a finance program that gives an broad view of the conceptual and technical baggage required to work in finance. The training must obviously deal with the techniques of financial asset valuation, but also those of corporate finance (issues, mergers and takeovers, etc.), the economics of the banking and insurance sector, etc. It is precisely this overview that the International Finance Specialized Master offers.