Alan J. Marcus is an American economist, and the first recipient of the Mario J. Gabelli Endowed Professorship at the

Carroll School of Management The Boston College Carroll School of Management (CSOM) is the business school of Boston College in Chestnut Hill, Massachusetts. Established in 1938, the Carroll School offers Bachelor of Science, Master of Business Administration (MBA), and Doc ...

Boston College Boston College (BC) is a private university, private Catholic Jesuits, Jesuit research university in Chestnut Hill, Massachusetts, United States. Founded in 1863 by the Society of Jesus, a Catholic Religious order (Catholic), religious order, t ...

, where he currently teaches. He is an author of several textbooks widely used in finance and MBA programs internationally, including ''Fundamentals of Corporate Finance'' with Stewart Myers and Richard A. Brealey. Marcus serves on the advisory board of the

CFA Institute The CFA Institute is a global, not-for-profit professional organization that provides investment professionals with finance education. The institute aims to promote standards in ethics, education, and professional excellence in the global investme ...

Education and background

Marcus graduated with high honors,

summa cum laude Latin honors are a system of Latin phrases used in some colleges and universities to indicate the level of distinction with which an academic degree has been earned. The system is primarily used in the United States. It is also used in some Sout ...

, and

Phi Beta Kappa The Phi Beta Kappa Society () is the oldest academic honor society in the United States. It was founded in 1776 at the College of William & Mary in Virginia. Phi Beta Kappa aims to promote and advocate excellence in the liberal arts and sciences, ...

, from

Wesleyan University Wesleyan University ( ) is a Private university, private liberal arts college, liberal arts university in Middletown, Connecticut, United States. It was founded in 1831 as a Men's colleges in the United States, men's college under the Methodi ...

, in 1976. He received his PhD in economics at

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a Private university, private research university in Cambridge, Massachusetts, United States. Established in 1861, MIT has played a significant role in the development of many areas of moder ...

in 1981. He also served as a Research Fellow at the

National Bureau of Economic Research The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic co ...

, working with Pension,

Monetary Economics Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions (as medium of exchange, store of value, and unit of account), and it considers how m ...

, and Financial Markets groups.

Academic appointments

* 1981–1990, Boston University * 1994 (summer), visiting professor at the Athens Laboratory of Business Administration (ALBA) * 1996 and 1997, visiting professor at the

MIT Sloan School of Management The MIT Sloan School of Management (branded as MIT Sloan) is the business school of the Massachusetts Institute of Technology, a private university in Cambridge, Massachusetts. MIT Sloan offers bachelor's, master's, and doctoral degree progra ...

* 1991–present, professor at the Wallace E. Carroll School of Management at Boston College

Bibliography

Marcus has co-authored textbooks and his work has been published in the area of

capital market A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers ...

s and

portfolio theory Modern portfolio theory (MPT), or mean-variance analysis, is a mathematical framework for assembling a portfolio of assets such that the expected return is maximized for a given level of risk. It is a formalization and extension of Diversificatio ...

. Some of his works are listed below.

Books

* ''Essentials of Investments'', ninth edition, 2013 (with Alex Kane and Zvi Bodie) * ''Fundamentals of Corporate Finance,'' seventh edition, 2012 (with A. Kane and Z.Bodie) * ''Investments,'' ninth edition, 2011 (with A. Kane and Z. Bodie)

Journal articles

* “Relative Sentiment and Stock Returns,” ''Financial Analysts Journal'', 66 (July/August 2010), with Roger M. Edelen and Hassan Tehranian. * “Opaque Financial Reports, R-square, and Crash Risk,” ''Journal of Financial Economics'', 94 (October 2009), with Amy Hutton and Hassan Tehranian, 67–86. * “Corporate Governance and Pay-for-Performance: The Impact of Earnings Management,” ''Journal of Financial Economics'', 87 (February 2008), 357–373, with Marcia Cornett and Hassan Tehranian. * “The Impact of Institutional Ownership on Corporate Operating Performance,” ''Journal of Banking and Finance'', 31 (June 2007), 1771–1794, with Marcia Cornett, Anthony Saunders, and Hassan Tehranian. * “Optimal Estimation of the Risk Premium for the Long Run and Asset Allocation: A Case of Compounded Estimation Risk,” ''Journal of Financial Econometrics'', 3 (2005), 37–55, with Eric Jacquier and Alex Kane. *

References

{{DEFAULTSORT:Marcus, Alan Boston College faculty American economists MIT School of Humanities, Arts, and Social Sciences alumni Wesleyan University alumni Living people Year of birth missing (living people) Corporate finance theorists