Brief Bio

Home Top Page 1

Gerald D. Gay--Professor and Chairman of Finance


EDUCATION:
Ph.D.   - Finance, University of Florida
M.S.E. - Industrial Systems Engineering, University of South Florida
B.S.E.  - Industrial Systems Engineering, University of South Florida

Gerald Gay joined the faculty of Georgia State University in 1980.  His expertise is in the areas of investments, derivative markets and financial risk management.  He has published over fifty articles in leading academic and professional journals, including the Journal of Financial Economics, Review of Financial Studies, Journal of Finance, Journal of Business, Journal of Futures Markets and the Journal of Derivatives.

From 1990 to 1993 he served as both the chief economist of the U.S. Commodity Futures Trading Commission (CFTC) in Washington, D.C. and as the Director of its Division of Economic Analysis.  While at the CFTC, he spearheaded several initiatives that brought important regulatory relief to and increased the international competitiveness of U.S. derivative markets.  Of note was his role in the preparation of the CFTC's Part 34 Rules liberalizing hybrid instruments, the Part 35 Rules providing  legal certainty to swaps, and the CFTC's 1993 Order providing exemptive relief to energy related contracts.  In 1992 he served as the CFTC's liaison to the White House in support of the President's Regulatory Reform Initiative.   

His research and professional interests center on the valuation and use of derivative instruments and the regulation of derivative markets.  He serves as an advisor and provider of executive training to corporations and the legal profession.

Away from the office he enjoys fishing and hunting, is an avid follower of sports including Florida Gator football, and has enjoyed watching his kids compete in triathlons, baseball, and fastpitch.


Selected Publications:

"Window dressing in mutual funds" (with Vikas Agarwal and Leng Ling) Review of Financial Studies 27 (November 2014), pp. 3133-3170.

"Corporate Derivatives Use and the Cost of Equity (with Chen-Miao Lin and Stephen D. Smith) Journal of Banking and Finance 35 (June 2011), pp. 1491-1506.

"Analyst Forecasts and Price Discovery in Futures Markets: The Case of Natural Gas Storage" (with Betty J. Simkins and Marian Turac) Journal of Futures Markets 29 (May 2009), pp. 451-477.

"Creating a "Smart" Conditional Consensus Forecast" (with Lawrence D. Brown and Marian Turac) Financial Analyst Journal 64 (November/December 2008), pp. 74-86.

"Choices and Best Practice in Corporate Risk Management Disclosure" (with Ekaterina Emm and Chen-Miao Lin) Journal of Applied Corporate Finance 19 (Fall 2007), pp. 82-93.

"The Global Market for OTC Derivatives: An Analysis of Dealer Holdings" (with Ekaterina Emm) Journal of Futures Markets 25 (2005), pp. 39-77.

"How Firms Manage Risk: The Optimal Mix of Linear and Non-Linear Derivatives." (with Jouahn Nam and Marian Turac), Journal of Applied Corporate Finance 14 (Winter 2002): 82-93.

"Asymmetric Information and Corporate Derivatives Use." (with Peter DaDalt and Jouahn Nam), Journal of Futures Markets 22 (March 2002): 241-267.

"The Underinvestment Problem and Corporate Derivatives Use." (with Jouahn Nam), Financial Management 27 (Winter 1998): 53-69.

"The Economics of Derivatives Documentation: Private Contracting as a Substitute for Government Regulation." (with Joanne Medero), Journal of Derivatives 3 (1996): 78-89.

"Scams, Scoundrels and Scapegoats: A Taxonomy of CEA Regulation over Derivative Instruments." (with Wendy L. Gramm), Journal of Derivatives 1 (Spring 1994): 6-24.

"Patterns of Institutional Investment, Prudence, and the Managerial Safety-Net Hypothesis." (with S.G. Badrinath and Jayant Kale), Journal of Risk and Insurance 56 (1989): 605-629.

"Implicit Delivery Options and Optimal Delivery Strategies in Financial Futures Contracts." (with Steven Manaster), Journal of Financial Economics 16 (1986): 41-72.

"The Quality Option Implicit in Futures Contracts." (with Steven Manaster), Journal of Financial Economics 13 (1984): 353-370.

 

 

horizontal rule

Back to FI 4200 Homepage
This page was last modified on August 28, 2018
Email Gerald Gay

Home