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James W. Kolari

JP Morgan Chase Professor of Finance
Academic Director of the Commercial Banking Program
Adam C. Sinn '00 Department of Finance

Education

PhD Arizona State University, 1980
MBA Western Illinois University, 1976
BS Western Illinois University, 1973

Research Interest

Banking, securities markets, asset pricing, empirical models in finance

Courses Taught

Commercial Banking
Financial Institutions and Markets
Asset Pricing
International Asset Pricing
Money and Capital Markets

Biography

Professor Kolari has taught financial markets and institutions since earning his Finance Ph.D. from Arizona State University in 1980.  He currently is the JP Morgan Chase Professor of Finance and Academic Director, Commercial Banking Program in the Department of Finance, Mays Business School.  Previously a Visiting Scholar at the Federal Reserve Bank of Chicago in 1982, Fulbright Scholar at the University of Helsinki and Bank of Finland in 1986, and Senior Research Fellow at the Swedish School of Business and Economics (Hanken), Vaasa, Finland from 2002 to 2017, he has been a consultant to the U.S. Small Business Administration, American Bankers Association, Independent Bankers Association of America, U.S. Information Agency, and numerous banks and other organizations. Professor Kolari has published over 100 refereed articles, 21 co-authored books, and numerous monographs. His papers have appeared in such domestic and international journals as the Journal of Finance, Review of Financial Studies, Journal of Business, Review of Business and Statistics, Critical Finance Review, Journal of Banking and Finance, Journal of Empirical Finance, Journal of Economics Dynamics and Control, Journal of Financial Research, Journal of International Money and Finance, Journal of Risk and Insurance, and the Scandanavian Journal of Economics.

Research Publications

Badshah, I., Koerniadi, H., & Kolari, J. W. (2019a). Testing the Information-Based Trading Hypothesis in the Option Market: Evidence from Share Repurchases. Journal of Risk and Financial Management, 12(4), 179. https://doi.org/10.3390/jrfm12040179

Badshah, I., Koerniadi, H., & Kolari, J. W. (2019b). The Sarbanes‐Oxley act and informed trading in the options market: Evidence from share repurchase announcements. International Review of Finance. https://doi.org/10.1111/irfi.12281

Grobys, K., Dufitinema, J., Sapkota, N., & Kolari, J. W. (2022). What’s the expected loss when Bitcoin is under cyberattack? A fractal process analysis. Journal of International Financial Markets, Institutions and Money, 77, 101534. https://doi.org/10.1016/j.intfin.2022.101534

Grobys, K., Heinonen, J., & Kolari, J. W. (2018). Return dispersion risk in FX and global equity markets: Does it explain currency momentum? International Review of Financial Analysis, 56, 264–280. https://doi.org/10.1016/j.irfa.2018.01.010

Grobys, K., Junttila, J., Kolari, J. W., & Sapkota, N. (2021). On the stability of stablecoins. Journal of Empirical Finance, 64, 207–223. https://doi.org/10.1016/j.jempfin.2021.09.002

Kolari, J. W. (2018). Gross and net tax shield valuation. Managerial Finance, 44(7), 854–864. https://doi.org/10.1108/mf-09-2017-0335

Kolari, J. W., López-Iturriaga, F. J., & Sanz, I. (2019). Predicting European bank stress tests: Survival of the fittest. Global Finance Journal, 39, 44–57. https://doi.org/10.1016/j.gfj.2018.01.015

Kolari, J. W., López-Iturriaga, F. J., & Sanz, I. (2020). Measuring systemic risk in the U.S. Banking system. Economic Modelling, 91, 646–658. https://doi.org/10.1016/j.econmod.2019.12.005

Kolari, J. W., & Pynnönen, S. (2010). Event Study Testing with Cross-sectional Correlation of Abnormal Returns. Review of Financial Studies, 23(11), 3996–4025. https://doi.org/10.1093/rfs/hhq072

Liu, W., Kolari, J. W., Tippens, T. K., & Fraser, D. R. (2013). Did capital infusions enhance bank recovery from the great recession? Journal of Banking and Finance, 37(12), 5048–5061. https://doi.org/10.1016/j.jbankfin.2013.09.008