Jesus Manuel Salas 

Assistant Professor of Finance, Perella Department of Finance, Lehigh University
621 Taylor St,   RBC 448 ,     Bethlehem, PA, 18015
e-mail:, phone: (610) 758-3238

Ph.D. in Finance                  Price College of Business, University of Oklahoma     2008
MA Economics                    Miami University of Ohio                                         2003
BS Mathematics                   St. Mary's University (Texas)                                    2000 


Research: Dividend Policy, Corporate Governance, and Corporate Risk Management.
Teaching: Corporate Finance


H-1B, born and raised in Mexico City. Traveled to more than 25 countries. Lived in Mexico, United States of America, and France. Fluent in Spanish, English, Portuguese, and French.


Three Essays in Corporate Finance.


  1. Entrenchment, governance, and the stock price reaction to sudden executive deaths, 2009, Journal of Banking and Finance.
  2. Minimum Variance Hedging when Spot Price Changes are Partially Predictable, 2008, with Louis H. Ederington, Journal of Banking and Finance.
  3. Privatization in America, published as a chapter in Transforming Public Enterprises In Europe and The Americas: Networks, Integration and Transnationalisation, Kluwer Publishers, 2007, with William Megginson and Candra Chahyadi


  1. Agency costs of dividends : Evidence from dividend initiations, presented at the MFS conference, Crete, Greece, 2009 and at the FMA conference, Orlando, Florida, 2007.

  1. Dividend Initiations, Analyst Forecasts, and the Cost of Capital, presented at the Southwest Finance Association, Oklahoma City, 2006 and at the Financial Management Association conference, Salt Lake City, Utah, 2006.

  1. Who Speculates? Evidence from the Gold Industry, with Tim Adam and Chitru Fernando. Presented at the European meeting of the Financial Management Association, Barcelona, Spain, 2007. Presented at the European Finance Association meeting in Ljubljana, Slovenia, 2007 and at the Financial Management Association conference, Orlando, Florida, 2007.

  2. Is there a Lower Propensity to Pay Dividends? A Decomposition of Dividend Payers, with Candra Chahyadi, presented at the Financial Management Association conference, Chicago 2005. Winner, PhD student research paper of the year, Southwest Finance Association, Oklahoma City, 2006.

  1. A Simulation Based Study of Financial Networks and Contagion, with Chitru Fernando. Research based on NSF Grant No. ECS-0323620.

TEACHING EXPERIENCE (Student evaluation average score: 4/5):

Lehigh University
Assistant Professor of Finance (Investments)                                                     2008-Present

University of Oklahoma
Graduate Teaching Assistant (Investments)                                                         2007
Graduate Teaching Assistant (Advanced Business Finance)                                 2006-2007
Graduate Teaching Assistant (Business Finance)                                                  2004

Miami University of Ohio
Graduate Teaching Assistant (Spanish)                                                               2002-2003

Multinational Finance Society, Crete, Greece (Presenter)                                       2009
American Finance Association, New Orleans (Presenter)                                       2008
European Finance Association, Slovenia (Presenter & Discussant)                          2007
Financial Management Association, Orlando (Presenter)                                        2007
European meeting of FMA, Barcelona (Presenter)                                                 2007
Financial Management Association, Salt Lake City (Presenter & Discussant)            2006
Corporate governance course in Aarhus, Denmark (Presenter and Discussant)           2006                   
European Finance Association Meeting (Discussant)                                               2006
Southwest Finance Association, Oklahoma City (Presenter)                                    2006 
Financial Management Association, Chicago (Presenter and Discussant)                   2005
Southwestern Finance Symposium, University of Tulsa (Discussant)                       2004

Created and ran FSL seminar series, Lehigh University                                          2008 - Present
Served on recruitment committees for acct. and fin. depts, Lehigh University           2008 - 2009
Served on "Good jobs in tough times" committee, Lehigh University                       2008 - 2009

Served on Price College mission statement development committee                         2007 - Present
Co-created the PhD student brown bag research seminar, U. of Oklahoma                2004 - Present
Secretary to OU Doctoral Student Association                                                       2004
Served on OU Academic Appeals Panel                                                                2004 - Present

Served on 2008 FMA Annual Meeting Dissertation Award committee                   2008
Served on 2007 FMA Annual Meeting Competitive Paper Award committee           2007
Refereed for Quarterly Review of Economics and Finance                                     2007
Refereed for Review of Financial Economics                                                       2004

David M. Moffett PhD fellowship recipient, U. of Oklahoma                                   2007
Graduate Student Teaching Award, U. of Oklahoma                                               2007
2006 PhD Student Research Paper of the Year, Southwest Finance Association          2006
Accepted to the Financial Management Association doctoral seminar, Orlando           2007
Accepted to the European Finance Association doctoral seminar, Slovenia                2007
Recipient of American Finance Association Meeting travel grant                              2007
Selected as OU Alley/Rayonier Scholar                                                                 2007
Price College of Business Summer Research Grant, U. of Oklahoma                         2005
Center for Financial Studies research support grant, U. of Oklahoma                         2005
Robberson Conference Presentation Travel Grant, U. of Oklahoma                           2005
Nominated, Graduate Teaching Assistant of the Year, U. of Oklahoma                      2007
Nominated, Graduate Research Assistant of the Year, U. of Oklahoma                      2006


President of nonprofit Brazilian organization "Two Brothers Foundation"
Secretary, Lake Thunderbird Sailing Club Management Committee  


Chitru Fernando                             Louis H. Ederington                 William Megginson
Michael F. Price Professor             Professor and Michael F.         Professor and Rainbolt Chair
of Finance                                     Price Chair in Finance              in Finance
307 W. Brooks, AH 205-A             307 W. Brooks, AH 205-A      307 W. Brooks, AH 205-A
Norman, OK  73019                      Norman, OK  73019                Norman, OK  73019
(405) 325-5591                             (405) 325-5591                         (405) 325-5591                     

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