I joined the Baylor University faculty during Summer 2000 as Professor of Finance and Insurance and was appointed to the Frank S. Groner Memorial Chair of Finance during Fall 2002. During the Spring 2006 semester, I held an Adjunct Professor appointment at the University of Pennsylvania’s Wharton School and subsequently held a Visiting Scholar appointment at Wharton from 2007-2013.

Prior to my faculty appointment at Baylor, I held faculty appointments in the business schools at Pennsylvania State University (1984-1989), the University of Texas at Austin (1989-1996), and Louisiana State University (1998-2000). In total, I have published more than 30 papers in the most respected journals and books in my field and have collectively been cited by my academic peers more than 1,700 times (source: I am the recipient of several prestigious research awards, including the American Risk and Insurance Association’s Robert I. Mehr Award (2003) and Baylor University’s University Research Award (2008).

My research addresses how contracts, firms, and markets can be designed to allow for the efficient allocation, management, and pricing of risk. Traditional approaches to risk management typically focus upon the analysis of a specific type of operating or financial risk without considering how such risks interact. My research reflects more of an integrated approach to the study of risk management. In recent years, integrated risk management has become increasingly popular in professional as well as academic circles. This change in approach and philosophy has been motivated significantly by the convergence of insurance and financial markets, along with the ever-increasing frequency and severity of natural and man-made catastrophes.

My research is both prescriptive and descriptive, in that I do both theoretical and empirical work. The research techniques that I employ are derived primarily from the fields of financial economics and econometrics. For more information about my research, see my CV at

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