Paul Laux


Department: Finance
Campus Address: 307B Purnell Hall
Newark, DE 19716
Phone: 302-831-6598



Research Interests:

  • Corporate finance
  • Market microstructure
  • Financial markets
  • Law and finance


  • Ph.D. - Vanderbilt University, 1988
  • MBA - Xavier University, 1983
  • A.B. - University of Cincinnati


  • Corporate Governance, Idiosyncratic Risk and Information Flow, with M. Ferreira, forthcoming in 2007, The Journal of Finance
  • Misreaction with C.N.V. Krishnan, Journal of Financial & Quantitative Analysis 40: 2, June 2005, 403-435.
  • The Information Content of Corporate Investment Announcements: The Case of Joint Ventures,
    with A. Keown and J. Martin,  Research in Finance, 22, Fall 2005.
  • "Fragmentation and Complementarity: The Case of EPPs" with S. Brown-Hruska, Journal of Futures Markets 22:8, August 2002, 697-727. (Lead Article)
  • "An Empirical Framework and Teaching Note for Introducing Financial Management in the First MBA Core Class," with B. Simkins, Journal of Financial Education, Falll 2002. (Lead Article)
  • "Operational Hedges and the Foreign Exchange Exposure of US Multinational Corporations," with B. Simkins and C. Pantzalas, Journal of International Business Studies 32:4, December 2001.
  • "How US Multinational Corporations Manage Foreign Exchange Rate Exposure," with C. Pantzalas and Betty Simkins,Corporate Finance Review 4:6, May/June 2000, 5-14.

Awards & Honors

  • Award for the Outstanding Paper in Derivatives, Southern Finance Association, 1999.
  • CBOT Award for Best Paper in Futures and Futures Options, Western Finance Association
  • Meetings, for “Intraday Price Formation in the Stock Index Futures Market,” 1993.
  • CBOT Award for Best Paper in Futures and Futures Options, Southwestern Finance Association
  • Meetings, for “Estimating the Bid-Ask Spread in a Heteroskedastic Market: The Case of Currency Futures,” with A. J. Senchack, 1993.
  • Dorney Grant for Development of Finance Instructional Software, 2000.
  • Finalist for Weatherhead School of Management Best Teacher Award, 1995, 1999.
  • Department of Finance Nominee for CBA Foundation Teaching Award (Graduate School of
  • Business, University of Texas Award for Assistant Professors), 1993.
  • Rendigs Fels Award for Teaching Excellence, Vanderbilt University, 1988.





  • Corporate governance
  • Investments
  • Managerial finance
  • International Financial Management
  • Financial Economics


The Lerner College is home to a state-of-the-art financial trading facility, the $1.5 million student-led Blue Hen Investment Club, a student-managed restaurant and hotel, a high-technology development center of a global bank and a start-up experience for students with new business ideas.

Lerner College faculty - like Meryl Gardner, whose research on foods and moods was recently published in the Journal of Consumer Psychology - are thought leaders who command attention from influential business audiences, economists and policy makers.

All Lerner College departments offer discovery learning experiences and emphasize data-based analytics to enrich the student experience. Here, students at Vita Nova, our award-winning restaurant run through HRIM, joined professional chefs and winemakers in hosting a 2014 Mid-Atlantic Wine and Food Festival event.

The Institute for Financial Services Analytics is a collaboration between the Lerner College, UD's College of Engineering and JPMorgan Chase, and hosts events for academics and the business community designed to address consumer analytics and industry applications.

Undergraduate scholarships, made possible through the generosity of alumni and friends, enable us to support promising scholars. Here, Delaware Gov. Jack Markell and his mother, Leni Markell, join recipients of the William Markell Scholarship (center), which benefits students in Accounting and MIS.

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