Thierry Foucault

Thierry Foucault serves as Chaired Foundation Professor of Finance at HEC Paris and holds a CEPR Research Fellowship. His institutional engagements include scientific committee memberships at France's Autorité des marchés financiers (AMF) and the Norges Bank Academic Programme.

His research centers on information dynamics in financial markets, market microstructure, and technology's impact on finance. Key investigation areas include:

• Algorithmic trading systems and liquidity provision
• Artificial intelligence applications in financial forecasting
• Information asymmetry effects on corporate decision-making
• Regulatory responses to technological disruption
• Real economy consequences of market frictions

Recent publications demonstrate consistent focus on how data-driven technologies transform market efficiency and regulatory frameworks, with particular attention to AI's dual role in enhancing market intelligence while creating new systemic vulnerabilities.

His scholarly recognition includes:

• CEPR Research Fellowship
• Co-Editorship of Journal of Financial and Quantitative Analysis
• Associate Editor role at Journal of Finance
• Authorship of foundational text 'Market Liquidity: Theory, Evidence, and Policy'

Professor Foucault maintains active collaboration with regulatory bodies through his AMF and Norges Bank committee roles, ensuring his research directly informs financial stability policy. His work bridges theoretical market microstructure analysis with practical regulatory challenges posed by technological innovation.

He leads research initiatives examining artificial intelligence's transformation of financial markets, focusing on data valuation frameworks and algorithmic pricing mechanisms through both theoretical modeling and empirical analysis of market microstructure data.