Martin Jay Gruber is professor emeritus of finance and scholar in residence at the

Stern School of Business The Leonard N. Stern School of Business (also NYU Stern, Stern School of Business, or simply Stern) is the business schools, business school of New York University, a private university, private research university based in New York City. Founded ...

New York University New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational ...

, where he was previously Nomura professor of finance (1987-2010) and chair of the finance department (1989-1997). He was elected president of the

American Finance Association The American Finance Association (AFA) is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939. Its main publication, the ''Journal of Finance'', was first published in 1946. ...

in 1995. He is director emeritus of 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 ...

, where he was on the investment committee. His research studies mutual funds, pension funds, and expectations in the process of security price formation. He has been honored for his research by several academic and industry organizations With Edwin Elton, he wrote Modern Portfolio Theory and Investment Analysis (Wiley), now in its 9th edition, a standard textbook in the field of

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Early life and education

He graduated from

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

with an SB in chemical engineering, and received an MBA in production management and a PhD in finance and economics from

Columbia University Columbia University in the City of New York, commonly referred to as Columbia University, is a Private university, private Ivy League research university in New York City. Established in 1754 as King's College on the grounds of Trinity Churc ...

Career

He joined the Stern School of Business as assistant professor of finance in 1965, and spent his academic career there except for a two year visiting position at the

International Institute of Management International is an adjective (also used as a noun) meaning "between nations". International may also refer to: Music Albums * ''International'' (Kevin Michael album), 2011 * ''International'' (New Order album), 2002 * ''International'' (The T ...

, Berlin. He was chairman of the board of directors of the Japan Equity Fund, chairman of the board of trustees of CREF and later

TIAA-CREF The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA, formerly TIAA-CREF) is an American financial services organization that is a private provider of financial retirement services in the academic, resea ...

, and a director at DWS Scudder, the Singapore Equity Fund,

TIAA The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA, formerly TIAA-CREF) is an American financial services organization that is a private provider of financial retirement services in the academic, resea ...

, and the S.G. Cowen Mutual Funds. Among other editorships, he was editor of the

Journal of Finance ''The Journal of Finance'' is a peer-reviewed academic journal published by Wiley-Blackwell on behalf of the American Finance Association. It was established in 1946. The editor-in-chief is Antoinette Schoar. According to the ''Journal Citation R ...

from 1983-1988.

Publications

He has written seven books and over 100 articles in scholarly journals, several with his longtime coauthor Edwin Elton. His pre-1996 articles are collected in a book published by

MIT Press The MIT Press is the university press of the Massachusetts Institute of Technology (MIT), a private research university in Cambridge, Massachusetts. The MIT Press publishes a number of academic journals and has been a pioneer in the Open Ac ...

, "Investments" in two volumes. His post-1996 articles are collected in a book published by World Scientific, "Investments and portfolio performance".

Honors

* Docteur "honoris causa", University of Liege, Belgium * Fellow of the American Finance Association * Fellow of the Financial Management Association *Fellow of the Institute for Quantitative Research in Finance * James Vertin Award 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 ...

, 2004. The Vertin Award recognizes individuals producing a corpus of research that is valuable to investment professionals

Personal life

He is the father of Jonathan Gruber, professor of health economics at MIT.

References

{{DEFAULTSORT:Gruber, Martin J. Living people American financial economists New York University Stern School of Business faculty Massachusetts Institute of Technology alumni Columbia University alumni Presidents of the American Finance Association 1937 births