Department of Finance | Lundquist College of Business

Three students walking side-by-side holding laptops and folders talking with each other.

Understanding the complexities of money and investments shape business success and have broad economic implications. An analytical eye is imperative.

The Department of Finance at the Lundquist College of Business has a renowned reputation for research and teaching excellence, bringing complex concepts down to earth and helping students understand the principles of finance and financial stewardship.

Finance faculty publish in the top journals and have garnered high-profile press and awards for their insights and analysis of financial institutions and markets. The department also mentors student investment portfolios and hosts a conference that brings top empirical finance researchers to campus.

From undergraduate to PhD, the Department of Finance offers courses in finance and business economics.

Finance DepartmentNews



August 3–5, 2023
Eugene, Oregon

The Department of Finance and Cameron Center for Finance and Securities Analysis hosted a summer finance conference biennially.

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The department invites faculty members from other universities to present their current research. During the summer months the department also hosts one or two research scholars from other institutions for one or two week stays.

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Finance department workshops feature presentations by University of Oregon PhD candidates in an advanced stage. It also gives faculty an opportunity to present work in progress.

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Department Faculty

John Chalmers

Head, Department of Finance | Abbott Keller Professor of Finance


  • Household Finance
  • Municipal Bond Markets
  • Mutual Funds
  • Retirement Behavior
  • Transaction Costs

Recent Research

The Finance faculty at the Lundquist College of Business are renowned for their research in key areas.

  • Corporate Governance
  • Institutional Investors
  • Pension Funds and Mutual Funds
  • Cryptocurrencies
  • Venture Capital
  • Private Equity
  • Household Finance
  • Municipal Bond Markets
  • Mutual Funds
  • Retirement Behavior
  • Transaction Costs

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More bank jitters as First Republic probes asset sales, ‘bad bank’ options, source says

  • Plans to shrink balance sheets and explore options
  • Deposits in Q1 plunged more than $100 mth vs Q4
  • Shares hit record low
  • Wall Street gears up for more pain ahead

April 25 (Reuters) – First Republic Bank (FRC.N) faces dwindling and tough options to turn around its business with the creation of a ‘bad bank’ or asset sales possibilities, a source familiar with the matter said, after the lender showed the extent of deposit flight during last month’s banking crisis.

The First Republic reported a more than $100 billion plunge in deposits in the quarter in the aftermath of the biggest turmoil to hit the banking sector since 2008. Shares on Tuesday slid to a record low, closing down nearly 50%.

“If someone were to acquire them … there’s going to be some big writedowns that would have to be taken against some of the assets given the rate cycle,” said Christopher Wolfe, head of North American banks at Fitch Ratings, referring to the bank’s mortgage loan book and securities portfolio.

“The options are very challenging and probably very costly, especially for shareholders,” Wolfe said. “Who’s going to bear the cost?”

A ripple effect was felt among other banks and the broader market. Regional bank PacWest Bancorp (PACW.O) fell 9%, Western Alliance Bancorporation (WAL.N) 6%, Zions Bancorp (ZION.O) 5% and brokerage Charles Schwab Corp (SCHW.N) was down 4%. Large banks were also hit with JPMorgan (JPM.N) down 2%.

The KBW Regional Banking Index (.KRX) dropped 4%, the broader S&P 500 bank index (.SPXBK) fell 2.6% and broader markets showed concern with US stocks lower and US Treasury yields falling.

The First Republic said on Monday it was “pursuing strategic options” to quickly strengthen the bank, without providing details.

The lender was studying all options, a person familiar with the matter said on Monday, speaking on condition of anonymity because the discussions were private.

The source said the bank wanted the US government to help by convening parties that could buoy San Francisco-based First Republic’s fortunes, including private equity firms and big lenders.

Options include an asset sale of up to $100 billion, a source familiar with the situation said on Tuesday. A second source familiar with the matter said that possible buyers were contacted by advisors for the First Republic with the idea of ​​receiving preferred equity in exchange for buying assets. Bloomberg News earlier reported the chance of asset sales and said buyers might receive incentives such as warrants or preferred equity.

David Chiaverini, analyst at brokerage firm Wedbush Securities said that if First Republic was willing to hand out preferred equity in exchange for selling loans above market value then “it will allow them in a way to sidestep from realizing the losses while at the same time helping to capitalize the bank.”

The bad bank possibility, earlier reported by CNBC, is a crisis-type method of isolating financial assets that have problems. Chiaverini said such a scenario would be a challenge as the bank’s loans and securities are

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The Business of Prestige TV Finance Bro Merch Is Booming

But succession is only one of many popular shows out now about people who make (or work for people who make) millions of dollars a year. HBO also has its sleeper hit Industry, which follows the rowdy young graduates working in the high-stakes environment of fictional London investment bank Pierpoint & Co. In the series, volatile star banker Eric Tao (played by Ken Leung) sometimes swaps out his suit for a bright purple Pierpoint sweatshirt at the office. The hoodie became such a fan favorite—apparently even the late designer and merch connoisseur Virgil Abloh coveted one—that HBO eventually put a version up for sale on its site, albeit with that pesky HBO show logo.

And then there’s Showtime’s long-running hit Billions, where some employees at the fictional hedge fund Ax Capital do, indeed, wear Ax Capital merch on a regular basis. “It’s almost a tribal thing,” the show’s costume designer Eric Daman told Vultures in 2019. “The Wall Street guys all wear these vests, and have such pride in being part of the firm that they’re with.” Sure enough, Showtime sells that vest, too.

“Dollar” Bill Stearn (Kelly AuCoin) rocks his Ax Capital fleece vest on Billions.Courtesy of Jeff Neumann for Showtime

Dollar Bill’s Ax Cap vest or Eric’s Pierpoint hoodie aside, the official prestige TV merch doesn’t feel especially authentic to the shows’ one-center universes. For example, the brand on both the succession and Billions fleece vests is Port Authority, a wholesale apparel retailer that also provides merchandise blanks for, among other institutions, the New York City Police Department. Not that it would necessarily be easy to make official merch with, say, Loro Piana, or even Patagonia, who put a kibosh on companies stitching logos onto its apparel a few years back, in an effort to distance itself from the legions of vest- clad tech and finance bros schlepping through Midtown. But in the spirit of making cheeky finances bro dudes, there’s gotta be another option somewhere for an upgraded dupe.

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PERSONAL FINANCE: Women and retirement and the financial considerations | Business

As women plan for retirement, they must consider several realities that statistically set them apart from men, including the probability of earning less money and living longer.

Of course, every person’s situation is unique, but the fact that women generally spend more years in retirement with fewer assets than their male counterparts can create challenges. Here are some factors women should consider when planning for retirement.

Anticipate a long lifespan

In the United States, on average, women outlive men by five years. 1 As a result, in 2022 there were twice as many women aged 85 and above compared to men. 2 A longer lifespan means more years in retirement and a need for additional savings.

Overcome the income gap

Women workers generally earn less than their male counterparts, roughly 82 cents or less on average for every dollar a man earns. 3 Recent trends show that women are closing this gap by increasing their education level, entering more nontraditional fields and negotiating their salary when changing jobs. However, the data also shows that as women age, the income disparity widens.4

Women are also more likely to have gaps in their work histories due to caregiving responsibilities that have historically been handled disproportionately by women. These work hiatuses may reduce earnings over their work life, impacting Social Security and retirement benefits.

Take charge of your financial well-being

These strategies can help you be proactive and save toward the retirement you deserve:

Make regular contributions to retirement accounts. Automatic monthly payments make it easy to save every month. Max out any employer matches available to you.

Open an IRA. You can fund a traditional IRA with pre-tax contributions, which may help reduce your tax bill by deferring taxes on those dollars until you are in retirement. Or you can make after-tax contributions to a Roth IRA. Withdrawals from Roth accounts are not taxed, assuming it has been open for at least five years and the withdrawals are made after you reach 59½ years of age. Note that there are income limits attached to Roth accounts.

Make catch-up contributions. Annual contribution limits for retirement accounts change when you reach age 50 and beyond. You are allowed to make catch-up contributions to increase your 401(k) and IRA. Check current guidelines at

Live within your means. This is an obvious one. Overspending creates debt. Interest rates on unpaid balances can grow unmanageable. Get a handle on your expenses and ensure you’re saving more than you spend so you can put excess money away for retirement.

Leverage the power of compounding by investing early and often. The money that is invested can earn interest, which can then earn its own interest. This compound effect leads to optimal growth over time.

Advocate for higher wages. You have the right to be fairly compensated at work. If disparities exist, don’t be afraid to negotiate for the salary you deserve or pursue a higher paying job.

Postpone retirement or

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Fed emergency lending rises slightly in latest week

NEW YORK, April 20 (Reuters) – The Federal Reserve emergency lending to banks in the wake of last month’s financial sector troubles remains high and increased modestly in the latest week, according to data released on Thursday by the Federal Reserve.

The institution reported that borrowing via three programs aimed at supporting banks moved to $316.5 billion as of Wednesday, from $312 billion on April 12. While the overall sum remains very large and dramatically outstrips lending seen during the peak of the financial crisis, it has been easing over recent weeks after hitting a peak of $343.7 billion on March 22, in the wake of several high profile bank failures.

The lending follows the failures of Silicon Valley Bank and Signature Bank in March. That sparked fears of greater banking sector stress, which many in markets tied in part to the aggressive pace of the Fed rate rising aimed at lowering high levels of inflation.

In the details of the data, the Fed said it extended $69.9 billion as of Wednesday via its discount window lending facility, versus $67.6 billion on April 12.

Its Bank Term Funding Program, set up last month specifically to deal with the banking sector problems, moved to $74 billion on Wednesday from $71.8 billion the prior week, while “other credit” tied to the Federal Deposit Insurance Corporation’s work to wind down banks failed held steady at $172.6 billion on Wednesday.

The Fed also reported that lending via its repo facility available to foreign central banks and other official institutions has also declined in the latest week, going from $30 billion on April 12 to $20 billion on Wednesday.

Collectively, the shifts in emergency lending and other factors allowed the total size of the Fed’s balance sheet to go down, hitting $8.643 trillion on April 19 from $8.665 trillion on April 12.

Since last summer the Fed has been working to shrink the size of its holdings as part of its broader tightening campaign, but its emergency lending efforts over recent weeks have set that effort back, even as it has continued to shed Treasury and mortgage bonds it owns .

Fed officials have underscored for some time now that they see the troubles that have driven the surge in emergency lending as limited to a few institutions. So far, they have said they see no reason to be worried about the ongoing high levels of emergency lending.

“Conditions in the banking sector have stabilized, and the banking system is sound and resilient,” New York Fed leader John Williams said in a speech on Wednesday evening.

Much of the emergency lending has been via the discount window, the Fed’s main lender of last resort tool, a facility that has historically been shunned by banks for fear it would send out a sign of weakness to use it. The Fed has sought to erase that stigma and encourage use when needed.

Williams told reporters after his speech he was not alarmed about the level of borrowing

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