Rüdiger Fahlenbrach is Swiss Finance Institute Associate Professor at Ecole Polytechnique Fédérale de Lausanne (EPFL), Switzerland. He holds a senior chair from the Swiss Finance Institute. Formerly on the faculty of the Fisher College of Business of the Ohio State University (USA), he received a Ph.D. in Finance from the University of Pennsylvania (Wharton). He has research interests in empirical corporate finance, in particular corporate governance and entrepreneurship. He is Associate Editor of the Review of Financial Studies, Review of Finance, and Financial Management. Ruediger Fahlenbrach has published in the leading academic journals in finance, including the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, and the Journal of Financial and Quantitative Analysis. Additionally, his research has been reported in many large-circulation newspapers such as The New York Times, The Wall Street Journal, The Economist, Le Temps, NZZ, Handelsblatt, Forbes Magazine, USA Today, and Fortune Magazine.
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., Carnegie Mellon University (USA), Ecole Polytechnique Fédérale de Lausanne (Switzerland), Saïd Business School at Oxford (UK), Tinbergen Institute (Netherlands). 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 Journal of Economic Theory. His research focuses on the determinants of financial markets liquidity, the industrial organization of these markets, and their effect on the real economy. His work has received various research awards and it has appeared in top-tier academic journals such as the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, RAND Journal of Economics, and Management Science.