Loyola University Chicago

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Faculty Details

Robert Kolb
Title: Professor of Finance/Frank W. Considine Chair of Applied Ethics
Office #: Maguire Hall # 512
Phone: 312-915-0636
E-mail: rkolb@luc.edu
Web: Personal Web Page

PERSONAL INFORMATION

Degrees

  • Ph.D., Finance, University of North Carolina at Chapel Hill, 1978
  • Ph.D., Philosophy, University of North Carolina at Chapel Hill, 1974
  • M.A., University of Georgia, 1971
  • B.A., University of Georgia, 1971

Research Interests

  • Derivative Markets
  • Risk Management and Distributive Justice
  • Finance

Professional Associations

  • American Finance Association
  • Financial Management Association
  • Society for Business Ethics
  • International Association for Business and Society
  • Global Association of Risk Professionals
  • Professional Risk Managers' International Association

Courses Taught

  • Topics in Derivative Securities
  • Enterprise Risk Management

Selected Current Projects
  • Blackwell’s Companions in Finance Series, Series Editor. Responsibilities include commissioning approximately sixty-five 500-600 page volumes to cover every area of finance. For details, please see: http://www.robertwkolb.com.
  • A Companion to Financial Derivatives, Editor, with James A. Overdahl, forthcoming from Blackwell Publishers, 2008.
  • “Risk Management and Distributive Justice,” working paper.
  • Exotic Options: A Comprehensive Introduction, book under development.
  • Completed book-length manuscript, From Papyrus to Posterity–a history of how the Greek and Roman classics were transmitted from antiquity to the modern world.

RESEARCH LISTINGS


Publications–Articles
“Naturalism and Value Language,” Ethics, 1973, 83:2, pp. 168-172.

“The Impact and Value of Broker’s Sell Recommendations,” (with Clinton M. Bidwell, III), Financial Review, 1980, 15:3, pp. 58-68.

“Improving Hedging Performance Using Interest Rate Futures,” (with Raymond C. Chiang), Financial Management, 1981, 10:4, pp. 72-79.

“Affiliated and Independent Banks: Two Behavioral Regimes,” Journal of Banking & Finance, 1981, 5:4, pp. 523-537.

“Predicting Dividend Changes,” Journal of Economics and Business, 1981, 33:3, pp. 218-230.

“Including Costs of Misclassification in Discriminant Analyses: A Practical Approach,” Financial Review, 1981, 16:2, pp. 59-64.

“Duration, Immunization, and Hedging with Interest Rate Futures,” (with Raymond C. Chiang), Journal of Financial Research, 1982, 5:2, pp. 161-170.

“Managing Foreign Interest Rate Risk,” (with Gerald D. Gay and James V. Jordan), Journal of Futures Markets, 1982, 2:2, pp. 151-158.

“Are There Arbitrage Opportunities in the Treasury-Bond Futures Market?,” (with Gerald D. Gay and James V. Jordan), Journal of Futures Markets, 1982, 2:3, pp. 217-230.

“Immunizing Bond Portfolios with Interest Rate Futures,” (with Gerald D. Gay), Financial Management, 1982, 11:2, pp. 81-89.

“Futures Prices and Expected Future Spot Prices,” (with Gerald D. Gay and James V. Jordan), Review of Futures Markets, 1983, 2:1, pp. 110-123.

“Regulation, Regulatory Lag, and the Use of Futures Markets,” (with Roger A. Morin and Gerald D. Gay), Journal of Finance, 1983, 38:2, pp. 405-418.

“The Performance of Live Cattle Futures as Predictors of Subsequent Spot Prices ,” (with Gerald D. Gay), Journal of Futures Markets, 1983, 3:1, pp. 55-63.

“Interest Rate Hedging: An Empirical Test of Alternative Strategies,” (with Raymond C. Chiang and Gerald D. Gay), Journal of Financial Research, 1983, 6:3, pp. 187-197.

“The Management of Interest Rate Risk,” (with Gerald D. Gay), Journal of Portfolio Management, 1983, 9:2, pp. 65-70.

“Interest Rate Futures as a Tool for Immunization,” (with Gerald D. Gay), Journal of Portfolio Management, 1983, 10:1, pp. 65-70.

“Removing Bias in Duration Based Hedging Models: A Note,” (with Gerald D. Gay), Journal of Futures Markets, 1984, 4:2, pp. 225-228.

“Using Futures Market Predictions of Yield Spreads,” (with Stanley D. Smith), Magazine of Bank Administration, 1984, 60:12, pp.66-68.

“Macro Versus Micro Futures Hedges at Commercial Banks,” (with Gerald D. Gay and Stephen G. Timme), Journal of Futures Markets, 1984, 4:1, pp.47-54.

“Liquidity Requirements for Financial Futures Investments,” (with Gerald D. Gay and William C. Hunter), Financial Analysts Journal, 1985, 41:3, pp. 60-68.

“Liquidity and Capital Requirements for Futures Market Hedges,” (with Gerald D. Gay and William C. Hunter), Review of Futures Markets, 1985, 4:1, pp. 1-25.

“A Pricing Anomaly in Treasury Bill Futures,” (with Gerald D. Gay), Journal of Financial Research, 1985, 8:2, pp. 157 -167.

“The Structure of International Bond Risk Differentials,” (with W. Brian Barrett), Journal of International Business Studies, 1986, 17:1, pp. 107-118.

“Inflation, Interest Rates and Property-Liability Insurer Risk,”(with David J. Nye), Journal of Risk and Insurance, 1986, 53:1, pp. 144-154.

“A Comparative Analysis of Futures Contract Margins,” (with Gerald D. Gay and William C. Hunter), Journal of Futures Markets, 1986; 6:2, pp. 307-324.

“An Analytical Model of the Relationship Between Maturity and Bond Risk Differentials,” (with Raymond C. Chiang), Financial Review, 1986, 21:2, pp. 191-209.

“The Effect of Three Mile Island on Utility Bond Risk Premia: A Note,” (with W. Brian Barrett and Andrea J. Heuson), Journal of Finance, 1986, 4:1, pp.255-262.

“The Differential Effects of Sinking Funds on Bond Risk Premia,” (with W. Brian Barrett and Andrea J. Heuson), Journal of Financial Research, 1986, 9:4, pp. 303-312.

“Friday the Thirteenth: ‘Part VII’: A Note,” (with Ricardo J. Rodriguez), 1987, 42:5, pp. 1385-1387.

“The Adjustment of Stock Prices to Completely Unanticipated Events,” (with W. Brian Barrett, Andrea J. Heuson, and Gabriele H. Schropp), Financial Review, 1987, 22:4, pp. 345-354.

“Commodity Exchange Seat Prices,” (with Raymond C. Chiang and Gerald D. Gay), Review of Futures Markets, 1987, 6:1, pp. 1-10.

“The Regression Tendencies of Betas: A Reappraisal,” (with Ricardo J. Rodriguez), Financial Review, 1989; 24:2, pp. 319-334.

“Trader Rationality in the Exercise of Futures Options,” (with Gerald D. Gay and Kenneth Yung), Journal of Financial Economics, 1989, 12:2, pp. 177-186.

“Is the Distribution of Betas Stationary,” (with Ricardo J. Rodriguez), Journal of Financial Research, 1990, 13:4, pp. 279-284.

“Markov Chains and Regression Toward the Mean,” (with Ricardo J. Rodriguez), Financial Review, 1991, 26:1, pp. 115-125.

“An Empirical Evaluation of the Extended Mean-Gini Coefficient for Futures Hedging,” (with John Okunev), Journal Of Futures Markets, 1992; 12:2, pp. 177-186.

“Is Normal Backwardation Normal?” Journal of Futures Markets, 1992, 12:1, pp. 75-92.

“Theory Succession, the CAPM, and the APT,” Managerial Finance, 1993, 19:3,4, pp. 1-23.

“Utility Maximizing Hedge Ratios in the Extended Mean-Gini Framework,” (with John Okunev), Journal of Futures Markets, 1993; 13:6, pp. 597-609.

“(Micro) Fads in Asset Prices: Evidence from the Futures Market,” (with Gerald D. Gay, Jayant R. Kale, and Thomas H. Noe), Journal Of Futures Markets, 1994; 14:6, pp. 637-659.

“Regression to the Mean and Mean Reversion in Futures Markets,” (with John Okunev and Ricardo J. Rodriguez), Journal of Financial Engineering, 1994, 3:2, pp. 159-175.

“Accuracy of Foreign Exchange Cross-Rate Predictions,” (with Thomas F. Gosnell), Multinational Business Review, 1994; 2:1; pp. 45-54.

“Analysis of Spreads in Agricultural Futures,” (with W. Brian Barrett), Journal of Futures Markets, 1995, 15:1, pp. 69-86.

“The Systematic Risk of Futures Contracts,” Journal of Futures Markets, 1996, 16:6, pp. 631-654.

“Futures Prices and the Maturity Effect,” (with Tina M. Galloway), Journal of Futures Markets, 1996, 16:7, pp. 809-828.

“Accuracy of International Interest Rate Forecasts,” (with Thomas F Gosnell), Financial Review, 1997; 32:3, pp. 431-448.

“Commodity Futures Trading Commission,” “Executive Compensation,” “Financial Derivatives,”“Freedom and Liberty,” and “Distributive Justice” “General Accountability Office,” all in the Encyclopedia of Business, Ethics, and Society, Robert W. Kolb (ed.), forthcoming from Sage Publications, 2007.


Publications–Books
Interest Rate Futures: A Comprehensive Introduction, Richmond, VA: Robert F. Dame, Inc., 1982.

Interest Rate Futures: Concepts and Issues, (with Gerald D. Gay), Richmond, VA: Robert F. Dame, Inc., 1982.

International Finance: Concepts and Issues (with Gerald D. Gay), Richmond, VA: Robert F. Dame, Inc., 1983.

Understanding Futures Markets, Glenview, IL: Scott, Foresman, Inc., 1985; Second Edition, Glenview, IL: Scott, Foresman, Inc., 1988; Third Edition, Miami: Kolb Publishing Company, 1991 (also published under the same title as an imprint of the New York Institute of Finance); Fourth Edition, Miami: Kolb Publishing Company, 1994; Fifth Edition, Malden, MA: Blackwell Publishers, Inc., 1997. Sixth Edition, Malden, MA: Blackwell Publishers, Inc, 2006. Sixth and subsequent editions co-authored with James A. Overdahl.

Investments, Glenview, IL: Scott, Foresman and Co., 1986; Second Edition, Glenview, IL: Scott, Foresman and Co., 1989; Third Edition, Miami: Kolb Publishing Company, 1992; Fourth Edition, Miami: Kolb Publishing Company, 1995.

Financial Management, Glenview: IL, Scott, Foresman, Inc, 1987; Second Edition, (with Ricardo J. Rodriguez), Lexington, MA: D. C. Heath, 1992.

Principles of Finance, Chicago: Scott Foresman, Inc., 1988; Second Edition, (with Ricardo J. Rodriguez), Lexington, MA: D.C. Heath, 1992; Third Edition, (with Ricardo J. Rodriguez), Miami: Kolb Publishing Company, 1995.

Options: An Introduction, Miami: Kolb Publishing Company, 1991 (also published as Options: The Investor’s Complete Toolkit, New York: New York Institute of Finance, 1991); Second Edition, re-titled as Options (also published as: Understanding Options, New York: John Wiley and Sons, 1995); Third Edition, Malden: MA: Blackwell Publishers, Inc., 1997.

The Investments Reader, Miami: Kolb Publishing Company, 1991; Second Edition, Malden, MA: Blackwell Publishers, Inc., 1995.

The Financial Institutions and Markets Reader, Miami: Kolb Publishing Company, 1991; Second Edition, Miami: Kolb Publishing Company, 1993; Third Edition, Malden, MA: Blackwell Publishers, 1996.

The International Finance Reader, Miami: Kolb Publishing Company, 1991; Second Edition, Miami: Kolb Publishing Company, 1993; Third Edition, Miami: Kolb Publishing Company, 1995.

Financial Institutions and Markets, (with Ricardo J. Rodriguez), Miami: Kolb Publishing Company, 1993.

The Corporate Finance Reader, Miami: Kolb Publishing Company, 1991; Second Edition, Malden, MA: Blackwell Publishers, Inc., 1995.

The Commercial Bank Management Reader, Miami: Kolb Publishing Company, 1992.

The Financial Derivatives Reader, Miami: Kolb Publishing Company, 1992.

Financial Derivatives, Miami: Kolb Publishing Company, 1993 (also published as Financial Derivatives, New York: New York Institute of Finance, 1993); Second Edition, Malden: MA: Blackwell Publishers Inc., 1996; Third Edition, New York: John Wiley and Sons, 2003. Third and subsequent editions co-authored with James A. Overdahl.

Introduction to Investments, (with Rosemary Thomas Cunningham), Miami: Kolb Publishing Company, 1993.

Futures, Options, and Swaps, Miami: Kolb Publishing Company, 1994; Second Edition, Malden, MA: Blackwell Publishers, 1997; Third Edition, Malden, MA: Blackwell Publishers, 2000; Fourth Edition, Malden, MA: Blackwell Publishers, 2003. Fifth Edition, Malden, MA: Blackwell Publishers, 2007. Fifth and subsequent editions co-authored with James A. Overdahl.

Essential Financial Management, (with Ricardo J. Rodriguez), Miami: Kolb Publishing Company, 1994.

The Financial Futures Primer, Malden, MA: Blackwell Publishers, Inc., 1997.

The Options Primer, Malden, MA: Blackwell Publishers, Inc., 1997.

Practical Readings in Financial Derivatives, Oxford: Blackwell Publishers, 1998.

The Ethics of Executive Compensation, Editor, Blackwell Publishing Company, Oxford, England, 2007.

Corporate Retirement Security: Social and Ethical Issues, Editor, Blackwell Publishing Company, Oxford, England, 2007.

The Ethics of Genetic Commerce, Editor, Blackwell Publishing Company, Oxford, England, 2007.

Encyclopedia of Business, Ethics, and Society, Editor. forthcoming by Sage Publications, 2007. (This is a a five-volume, 1.5 million word encyclopedia, with almost 900 entries by almost 300 contributors.)