Chris Muscarella

Emeritus Professor of Finance, L. W.'Roy' and Mary Lois Clark Teaching Fellow at Smeal College of Business

Visiting Professor of Finance at Booth School of Business

Schools

  • Smeal College of Business
  • Booth School of Business

Expertise

Links

Biography

Smeal College of Business

Chris J. Muscarella is Professor of Finance and the L. W. 'Roy' and Mary Lois Clark Teaching Fellow at the Smeal College of Business Administration of The Pennsylvania State University. His teaching interests center on corporate finance and he has won twenty-one teaching awards from the Master of Business Administration students at Penn State. He has been ranked as one of the outstanding faculty at Penn State in the Business Week Guide to the Best Business Schools. He was named a J. William Fulbright Distinguished Chair at Portuguese Catholic University for the spring of 2001.Prior to coming to Penn State, he held an appointment as Senior Financial Economist with the U.S. Securities and Exchange Commission in Washington, DC where he worked on insider trading cases and public policy issues. Professor Muscarella has served on the faculties of the Darden School at the University of Virginia, the University of Chicago, Southern Methodist University, the University of Utah, the University of Texas, Duke University, the University of Oregon and the University of Notre Dame. He has also taught in executive MBA programs and numerous executive education programs. Professor Muscarella has authored case studies that are used in universities all over the U.S.

Expertise

Professor Muscarella's current research interests include the valuation of corporate patents and the impact of management compensation plans on corporate spending decisions. He has published numerous research articles including papers in The Journal of Finance, The Journal of Financial Economics,The Journal of Financial Research, The European Finance Review and The Journal of Applied Corporate Finance. His research has over 3000 citations in textbooks and academic journals and has been highlighted in The New York Times, Fortune, The Economist, The Chicago Sun-Times, The Dallas Morning News and The CFA Digest. Professor Muscarella has made over fifty research presentations in the U.S., Europe, and Asia. He is a former Associate Editor for The Journal of Financial Research. He served as Program Chair for the 2002 Financial Management Association annual conference and as President of FMA in 2005.

Education

  • PhD Purdue University Krannert School of Management
  • MBA University of Notre Dame - Mendoza College of Business
  • BS University of Notre Dame
  • Mater Dei Prep

Companies

  • Professor Emeritus of Finance Penn State Smeal College of Business (2017)
  • Adjunct Professor of Finance Duke University - The Fuqua School of Business (2019 — 2020)
  • Visiting Professor of Finance University of Oregon - Charles H. Lundquist College of Business (2019 — 2019)
  • Visiting Professor of Finance The University of Chicago Booth School of Business (2018 — 2018)
  • Visiting Professor of Finance The University of Texas at Austin - Red McCombs School of Business (2018 — 2018)
  • Professor of Finance Penn State University (1991 — 2017)
  • Visiting Professor of Finance Católica Lisbon School of Business and Economics (2001 — 2001)
  • Visiting Professor École des Ponts Business School (2000 — 2000)
  • Senior Financial Economist US Securities and Exchange Commission (1990 — 1991)

Skills

  • Business Strategy
  • Strategy
  • Leadership

Booth School of Business

Chris Muscarella studies stock market trading mechanisms and liquidity, intellectual property rights, executive compensation, and venture capital. His research has appeared in a number of academic journals, including the Journal of Finance, the Journal of Corporate Finance, the Journal of Financial Markets, the European Finance Review, and the Journal of Financial Economics. "I have published in a couple of different areas of corporate finance," explains Muscarella. "I often obtain research ideas by reading the Wall Street Journal and finding stories about companies that are taking some corporate action that I don''t understand. Hopefully, my papers lead to a better understanding of why companies do some of the things they do."

Muscarella has been president of the Financial Management Association, program chair of the Financial Management Association Annual Meetings, associate editor of the Journal of Financial Research, and northeast regional director of the Financial Management Association. He has served as associate editor for the Survey and Synthesis Series, put out by the Financial Management Association, and as an ad hoc reviewer for numerous journals.

He also has taught at the Darden Graduate School of Business Administration at the University of Virginia as well as served as a Senior Financial Economist, U.S. Securities and Exchange Commission.

He was elected to Beta Gama Sigma in 1976 and served as SMU Chapter President of the organization from 1985 to 1990. He is a member of the American Finance Association, and the Financial Management Association.

Muscarella is Professor of Finance and L. W. ‘Roy’ and Mary Lois Clark Teaching Fellow at Penn State University. He has received the Penn State MBA Teaching Excellence Award 22 times. BusinessWeek has ranked him as a four-star professor in multiple editions of their Guide to the Best Business Schools. "In my teaching I often draw on my experiences at the Securities and Exchange Commission. One of my favorite classroom topics is insider trading and I can use my experiences helping to prosecute such cases at the SEC."

He earned a bachelor''s degree in electrical engineering in 1974, an MBA in finance in 1976 from the University of Notre Dame, and a PhD in finance in 1983 from Purdue University.

Muscarella is an amateur genealogist and a fan of Notre Dame football.

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