Senior researcher

Axe de recherche


A doctoral graduate of HEC, Bruno Biais has served as a professor of finance at HEC, Carnegie Mellon and IAE Toulouse (Toulouse School of Management - TSM). He is now Director of Research at the CNRS, based at TSM Research.

He studies the abnormalities that can lead to information asymmetry, as well as strategic behaviour for financial markets, intermediaries and company funding. His focus is on classifying the optimal mechanisms and contracts that are necessary for the financial industry to work at its best, and avoid abnormalities. 

  • Domaines de recherche

    Behavioural & Experimental Economics

  • Political Economy

  • Corporate Finance

  • Market Microstructure

  • Contract Theory

  • Articles (ranked journals)

    BIAIS, B., C.BISIÈRE, M.BOUVARD, C.CASAMATTA, "The Blockchain Folk Theorem", Review of Financial Studies, May 2019, vol. 32, no. 5, pp. 1662-1715

  • Articles (non ranked journals)

    BIAIS, B., F.HEIDER, M.HOEROVA - "Clearing, counterparty risk and aggregate risk" - 2012, IMF Economic Review

  • Press articles, interviews

    BIAIS, B. - "Faut-il déréguler la finance ?" - 2017, Les Echos

  • International conventions

    BIAIS, B., P.-O.WEIL, "Liquidity Shocks and Order Book Dynamics", 2013

    BIAIS, B., F.DECLERCK, "Liquidity, Competition & Price Discovery in the European Corporate Bond Market" in Northern Finance Conference (NFA)., 2013, Québec, Canada

  • Conferences, symposiums, workshops

    BIAIS, B., C.BISIÈRE, M.BOUVARD, C.CASAMATTA, "The blockchain folk theorem" Workshop at Columbia University Business School. 2017, New-York, USA

  • Invited speaker

    BIAIS, B., F.DECLERCK - "Liquidity Competition Price Discovery Liquidity in the European Corporate Bond Market in the European Corporate Bond Market In EFM Association (Ed)" - 2014, USA

    BIAIS, B., T.FOUCAULT, S.MOINAS - "Equilibrium Fast Trading" - 2014, Canada

  • Chapters of books

    BIAIS, B., T.MARIOTTI, J.-C.ROCHET, "Dynamic financial Contracting" in Advances in Economics and Econometrics., D. Acemoglu, M. Arellano and E. Dekel Eds, Cambridge University Press, vol. 1, pp. 125-171, 2013