William Christie

Research Interests/Areas of Expertise

NASDAQ market, financial analysis and research.

Subject Areas

Finance

Biography

Over his nearly 30 years at Owen, Bill Christie has uncovered collusion at a leading global stock exchange, served as Dean, and consistently earned top teaching marks at Owen.

Awards & Accomplishments

Bill’s work on Nasdaq market makers earned First Prize in the 1995 Smith Breeden Prize competition for outstanding papers published in the Journal of Finance, as well as the 1995 Pace Setters Research Award for Outstanding Contribution to Research. He has earned “4 star” faculty member rankings in 3 separate Business Week surveys, the James A. Webb, Jr. Award for excellence in teaching on five separate occasions, and the Executive MBA Teaching award five times.

Impact

By studying the operations of the major financial markets in the mid-1990s, Bill, along with Professor Paul Schultz (Notre Dame), concluded that Nasdaq market makers were implicitly colluding to maintain artificially high trading profits at the expense of investors. His research subsequently resulted in a sweeping reform of the Nasdaq market, the introduction of the SEC Order Handling Rules, and a $1.027 billion settlement against the defendants.

Leadership

Bill served as Dean and Ralph Owen Professor of Management at Owen from 2000 – 2004, as well as several committees at Owen and Vanderbilt. He has held editorial responsibilities for several journals, including the International Review of Financial Analysis, the Journal of Financial Intermediation, the Review of Financial Studies, and Financial Management, where he served as Executive Editor for 5 years. He is the current president of the Financial Management Association. Bill has also served a 3-year term on Nasdaq’s Economic Advisory Board.

Teaching

Bill teaches a variety of finance courses for MBA and Executive MBA students, including Managerial Finance, Corporate Financial Policy, Bond Markets, and Equity Markets.

Research Interests

Bill’s research focuses on financial markets, market microstructure, and corporate finance. His work touches every aspect of the market place, including bid-ask spreads, dividends, equity offerings, and market mechanisms.

Education

Ph.D., Finance and Economics, University of Chicago, 1989

M.B.A., Finance, University of Chicago, 1980

B.S., Commerce, Queens University, 1978