FacultyFaculty/Author Profile
Henry T. C.  Hu

Henry T. C. Hu

The University of Texas School of Law
Allan Shivers Chair in the Law of Banking and Finance
Austin, TX, USA


Henry T.C. Hu holds the Allan Shivers Chair in the Law of Banking and Finance at the University of Texas Law School.  Hu’s research and public service center on the law and economics of modern capital markets and corporate governance, including asset allocation, disclosure, fiduciary duties of boards and management, financial innovation, mutual funds, retirement, and risk management.  Misunderstood Derivatives, a 1993 Yale Law Journal article, was the first to show how cognitive biases, compensation, financial “science,” and other factors could cause major institutions to take excessive risk and make mistakes with regard to derivatives.  Sole- and lead-authored articles in 2006-2009 offered the first systematic analysis of “decoupling,” showed the phenomenon’s impact on corporate and debt governance, and coined terms now in use worldwide (e.g., “empty creditor” and “empty voter”).  Articles in 2012 and 2014 reconceptualized the longstanding approach to disclosure relied on by the SEC and other regulators, and showed the approach’s inadequacies in conveying complex risks in such contexts as “too big to fail” banks.  This research offered a new framework for “information” and an analysis of new conflicts as to the objectives of disclosure.

Hu was the inaugural Director of the SEC’s “Division of Risk, Strategy, and Financial Innovation” (2009-2011) (now “Division of Economic and Risk Analysis”), the first new Division in 37 years.  He has been on the Legal Advisory Board of the NASD (now FINRA), the NASD and NASDAQ Market Regulation Committees, and the Board of Trustees of the Center for American and International Law.  In 2010, the National Association of Corporate Directors named him as one of the 100 most influential people in corporate governance (“Directorship 100”).  He received the Massey Prize for Research in Law, Innovation, and Capital Markets, as recognized at an international symposium in honor of the prize in September 2014.  Hu teaches corporate law, modern finance and governance, and securities regulation, and has also taught them at Harvard Law School.  He holds a B.S. (Molecular Biophysics and Biochemistry), M.A. (Economics), and J.D., all from Yale.

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