Professor, Finance & Real Estate, The Robert J. and Mary Ellen Darretta Endowed Chair in Finance
Bartley Hall Rm 2041
800 Lancaster Avenue
Villanova, PA 19085
BS, Fordham University, 1984
MBA, Rutgers University, 1997
PhD, Rutgers University, 1999
- With R. Schwartz, “A Closing Call’s Impact on Market Quality at Euronext Paris,” Journal of Financial Economics, 2003
- With J. Hughes, W. Lang, L. Mester, and C.G. Moon, “Do Bankers Sacrifice Value to Build Empires? Managerial Incentives, Industry Consolidation, and Financial Performance,” Journal of Banking and Finance, 2003
- With R. Schwartz, “Nasdaq ‘s Closing Cross: Has its new call auction given Nasdaq better closing prices? Early Findings,” Journal of Portfolio Management, 2005
- With Elyas Elyasiani and Iqbal Mansur, “Convergence and Risk-Return Linkages across Financial Service Firms,” Journal of Banking and Finance, 2007
- “Credit, Cronyism, and Control: Evidence from the Americas,” Journal of International Money and Finance, 2008
- With V. Gasparro, “Sovereign Wealth Funds: An Early Look at Their Impact on Debt and Equity Markets During the 2007-2009 Financial Crisis,” Financial Analysts Journal, 2010
- With J. Mason and R. Cangemi, “Options-based Structural Modeling of Bond Recovery Rates,” 2012, Journal of Financial Intermediation 21, 473-506.
- With S.H. Han and Y.S. Shin, “Rating Agency Reputation, the Global Financial Crisis, and the Cost of Debt,” 2012. Financial Management 41, 849-884.
- With L. Peng and R.A. Schwartz, “The Quality of Market Opening and Closing Prices: Evidence from the Nasdaq Stock Market,” 2013, Journal of Financial Markets 16, 331-361.
- With J. Sedunov, “A Comprehensive Approach to Measuring the Relation Between Systemic Risk Exposure and Sovereign Debt,” 2016, Journal of Financial Stability 23, 62-78.
- With P.K. Jain and E. Kuvvet, “Corruption’s Impact on Foreign Portfolio Investment,” 2017, International Business Review 26, 23-35.
Honors and Awards
- University Outstanding Faculty Research Award, 2018
- Darretta Endowed Chair in Finance, 2010
- Southern Finance Association Best Paper Award, 2005
- Silver Medal for Lybrand Best Paper Competition, 2005
- Outstanding Scholar Award, Villanova University, 2004-2005
- U.S. Fulbright Scholarship (for Costa Rica), 2002-03
- Summer Research Fellowship, Villanova University, 2001
- Fisher-Long-Whitcomb Teaching Excellence Award, Rutgers University, 1998.
- Central America
- International Finance
- Interest Rates
- Market Efficiency
- Mutual Funds
- Quantitative Analysis
- Risk Management
- Stock Trading
Market microstructure; financial institutions; risk management; cost of capital
Financial Modeling; Market Structure, Trading, and Liquidity; Corporate Risk Management; Financial Markets, Institutions, and the Trading Environment; Applied Corporate Finance; Financial Institutions; Valuation
- Board of Trustees – Alpha Architect ETF Trust (www.alphaarchitect.com/funds)
- Volunteer to Board – Citadel FCU (www.citadelbanking.com)
- Member – Finra Market Regulation Committee (www.finra.org)
- Prior Employment
- Commercial Banker
- Investment Analyst
- Product Specialist
- General Manager
- Firms – Citibank, ICM Corporation, Reuters America
At VSB since 1999
In the News Media
- The Wall Street Journal Analysts Ask: What Now, Nasdaq?
- The Post and Courier NYSE may merge with German company
- The Globe and Mail Global stock exchange consolidation may just be starting
Learn More: Online Master of Business Administration