Prof. Ioanid Rosu
Ioanid Roșu studies how modern markets really work: how liquidity, speed, and market design shape prices, trading costs, and ultimately the cost of capital for firms. His research helps investors, exchanges, and regulators understand what improves market quality, and what can unintentionally damage it.
For decision makers, the key question is how markets compress vast, diverse information into a single price: liquidity, trading rules, and technology can strengthen or distort that process.
A tenured Associate Professor of Finance at HEC Paris, he works at the intersection of asset pricing and market microstructure. His models explain how information flows through limit order books, how fast and slow traders interact, and how trading rules and technology affect market outcomes. He also studies new financial infrastructures, including crypto market design and proof-of-stake systems.
As Academic Director of the Executive MSc in Finance (EMiF) and Coordinator of the MBA Finance Specialization, he designs the finance curriculum across both programs. He aims to give participants the big picture of finance, while bringing them to the cutting edge of the discipline. He has assembled a faculty team that blends world-class academics with seasoned practitioners.
His teaching is supported by original case studies he authored, designed to turn finance theory into decisions under uncertainty. One case takes a 200-year perspective to compare risk and return across major investments: stocks, bonds, bills, gold, and the U.S. dollar. It highlights how conclusions can differ dramatically in the long run versus the short run. Another case follows a jeweler-artist who considers using forward and futures contracts to hedge input-price risk and stabilize her business. A third case studies “twin coin” arbitrage to show how apparent riskless strategies can be fraught with hidden risks, including predatory trading and short squeezes, and why correcting mispricing is often harder than it looks.
Ioanid publishes in top finance and management journals, including the Journal of Finance, the Review of Financial Studies, and Management Science. Before joining HEC Paris, he was on the faculty of the University of Chicago Booth School of Business. He holds a PhD in Financial Economics (MIT Sloan) and a PhD in Mathematics (MIT). His mission: make the mechanics of trading transparent, so markets can be designed to be efficient, resilient, and fair.