Thierry Foucault

Thierry Foucault serves as HEC Foundation Chaired Professor of Finance at HEC Paris, where he conducts influential research at the intersection of financial markets and technology. His work focuses on the determinants of financial markets liquidity and informativeness, the industrial organization of markets, and their effects on the real economy.

His primary research interests include Big Data applications in finance, artificial intelligence in trading technologies, over-the-counter (OTC) markets, and how stock markets influence corporate decisions regarding investment and product choices. Foucault's recent work has increasingly examined how technological advancements reshape traditional financial market structures and corporate behavior.

Foucault's research portfolio demonstrates a clear progression toward understanding how data abundance and AI transform market dynamics. His publications span theoretical models, empirical investigations, and policy implications, with particular emphasis on how alternative data sources affect traditional expertise in fund management, how algorithmic approaches change market maker behavior, and how investor information horizons influence corporate investment decisions.

• European Research Council (ERC) Advanced Grant (2021) for a five-year research project on Big Data and AI in financial markets
• Co-managing editor of the Journal of Financial and Quantitative Analysis (JFQA) since September 1, 2021

As an academic leader, Foucault actively mentors PhD students and collaborates with researchers worldwide. His editorial position at JFQA places him at the forefront of scholarly discourse in quantitative finance. While specific grant details aren't provided in the text, his ERC Advanced Grant represents significant research funding supporting his work on technology's impact on financial markets and corporate investment.