Merrick School of Business
Professor Emeritus of Finance
Education
Ph.D., School of Business Administration, University of Massachusetts
B.A., Williams College
B.B.A., University of Massachusetts
Joel Morse is a financial economist. He has taught corporation finance, portfolio management, management science, international business, international economics, derivative instruments and international finance, primarily at the graduate level. He has served as associate dean for research and outreach of the Merrick School of Business; chairperson of the Department of Economics, Finance and Management Science, and chairperson of the Finance Area. He is a tenured full professor in the Department of Finance and Economics. Prior to his time at UB, he was a member of the faculty at Loyola College in Maryland, the University of Delaware, and Harvard University Summer School. Dr. Morse has served as a consultant to firms that encompass several industries. Much of his work focuses on financial firms, banks, insurance companies and real estate firms. He has also worked with financial organizations on mergers and acquisitions, on the valuation of privately held companies, and as an expert witness in numerous legal and stock exchange proceedings. He has counseled private investors and stockbrokers as the principal of an SEC-registered investment advisor. He has lectured to a delegation from the Zhejiang Financial College (China). Joel Morse has edited a book on mathematical decision making techniques, published numerous academic and practice-oriented papers, served as associate editor of Large Scale Systems and Derivative Highlights, and is presently a member of the editorial board of the Journal of Legal Economics. He has conducted research studies on options and futures markets, equity swaps, intraweek seasonalities, corporate financial management, domestic and foreign capital markets, country risk analysis, transportation offsets in life care plans and inverse floating rate notes. His current research is on volatility options, goodwill impairment and business valuation.
Goodwill Impairment, Volatility investing (derivatives),Business Valuation
Investments, Corporate Finance, Futures and Options (Derivative Instruments) Business Valuation////for full Curriculum Vitae, see http://jnmorsepages.googlepages.com/home
Refereed Journal Articles
Gaynor, G., Wynne, K., Zhang, T., Gerlowski, D. A., & Morse, J. N. (2024). Online Proctoring Discount: The Role of Measured Stressors. Journal of Economic Education.
Morse, J. N., & Alfaqih, F. (2021). The Impact of Goodwill Impairment Testing on Earnings Per Share. “The Impact of Goodwill Impairment Testing on Earnings Per Share” International Journal of Business and Economic Development. 5.
Morse, J. N., & Koinah, P. K. (2020). Accounting for Currency and Commodity Hedges. African Journal of Accounting and Financial Research (AJAFR). 2(1), 5.
Gerlowski, D. A., Morse, J. N., Zhang, T., & Wynne, K. Thirty-third Annual Teaching Economics Conference,, "Online Proctoring Discount," sponsored by Robert Morris University, Pittsburgh - Virtual. (2022).
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Commentary on consumer finance---credit cards (2020).
"A CFO Perspective on Goodwill Impairment" (Planning)
To be targeted at Strategic Finance --ranked 2
"Fintech: Status and Prognosis" (Writing Results)
Not sure if this will be a long OP ED piece, or a journal submission.
"Goodwill impairment case study"
To be submitted to Issues in Accounting Education, ranked 3
"Hedging Market Risk Using Volatility Options" (Planning)
In a Critical Finance Review article, the point is made that firm's cash flows ARE affected by stock market risk.Amn explanation of a delta less than one are offered. My hypothesis is that volatility options/futures can be used to address this risk.
"Online Proctoring Discount: The Role of Measured Stressors"
"Volatility Options" (On-Going)
Examining the possibility that the dispersion trade that has been observed in the index options markets spills over into the volatility option markets.In 2013 I collected masses of data, which i have organized into a large spreadsheet.The data did not lead to a useful preliminary result. In 2016 I expanded my data acquisition. Also, I discussed my hypothesis with colleagues/friends at the Chicago Board Options exchange, at Van Sant & Mewshaw and with various research websites.I am pretty sure that I can find some significance now.