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 $1.4 million student-led Blue Hen Investment Fund, 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 Anu Sivaraman, who is among Social Media Marketing Magazine’s “Top 100 Marketing Professors on Twitter” and’s “Top 50 Marketing Professors on Twitter” - are thought leaders who command attention from influential business audiences, economists and policy makers.

All Lerner College departments offer experience-driven learning and emphasize evidence-based analytics methods to enrich the student experience. Here, finance students visit New York City’s financial districts for a first-hand look at markets trading and to meet with UD alumni.

Charles W. Horn, AS75, and wife Patricia, recently made a $3 million commitment to enhance and expand entrepreneurial studies.

  • Alfred Lerner College of Business & Economics
    303 Alfred Lerner Hall  •  Newark, DE 19716  •  USA  •  ©