Jesus M. Salas

Professor Salas joined the Perella Department of Finance at Lehigh University in 2008. Professor Salas is the founder and director of the Latin American Finance Association. His teaching and research interests include investments, corporate finance, corporate governance and corporate risk management.

Professor Salas has published in The Journal of Financial Economics, The Journal of Financial and Quantitative Analysis, Organization Science, The Journal of Banking and Finance, The Journal of Corporate Finance, The Journal of Real Estate Finance and Economics, and others.

Education

• St. Mary's University, B.S.
• Miami University of Ohio, M.A.
• University of Oklahoma, Ph.D.

Research Interests

• Corporate Finance
• Corporate Governance
• Corporate Risk Management

• Is the CEO’s In-House Experience Informative about Audit Risk? with Paul Brockman, Gopal Krishnan and Hye Seung (Grace) Lee. Revision requested from Journal of Accounting, Auditing and Finance.
• CEO Experience and Financial Reporting Quality: Evidence from Management Forecasts, 2018, with Paul Brockman, John L. Campbell and Hye Seung (Grace) Lee. Forthcoming at Journal of Business, Finance and Accounting (available at journal online).
• CEO Compensation and Government Ownership, 2018, with Ginka Borisova and Andrey Zagorchev. forthcoming at Corporate Governance International Review
• General Managerial Skills and Shareholder Value: Evidence from Sudden Executive Deaths, 2018, with Andre Betzer, Hye Seung (Grace) Lee and Peter Limbach. Forthcoming at the Journal of Financial and Quantitative Analysis.
• An international study of the value implications of CEO external directorships, 2018, with Andrey Zagorchev. Forthcoming at Journal of Accounting and Finance.
       - Best paper at Southwest Finance Association Annual meeting.
• The Value of Directors: Shareholder Perceptions and Director Effectiveness over the Course of Director Tenure, 2017, with Anne Anderson, Jill Brown, and Andrew Ward. Organization Science 28 (3), 2017, pp. 471-494. In best paper proceedings for the 2013 Academy of Management Annual conference.
• Who Speculates? Evidence from the Gold Industry, 2017, with Tim Adam and Chitru S. Fernando. Journal of Banking and Finance. Volume 77, Pages 269-282.
• The Effects of Insider-Outsider versus Generalist-Specialist Attributes on CEO Compensation, 2016, with Paul Brockman and Hye Seung (Grace) Lee. Journal of Corporate Finance. 39 (August), Pages 53-77
• The Causal Effect of Option Pay on Corporate Risk Management: Evidence from the Oil and Gas Industry, 2016, with Hamed Mahmudi, Tor Bake and Chitru Fernando. Journal of Financial Economics. Volume 120 (3), Pages 623-643.
• Are Credit Rating Agency Analysts valuable? 2015, with Nandkumar Nayar and Rahmi Aktug, Journal of Risk Finance 16 (4).
• Governance, Conference Calls and CEO Compensation, 2015, with McKay S. Price and CF Sirmans, Journal of Real Estate Finance and Economics. Vol. 50 (2), pp 181-206.
• Government Ownership and Corporate Governance, 2012, with Ginka Borisova, Paul Brockman and Andrey Zagorchev, Journal of Banking and Finance, Vol. 36 (11), pp 2917-2933.
• Not Paying Dividends? A Decomposition of Dividend Payers, 2012, with Candra Chahyadi, Journal of Economics and Finance, Vol. 36 (2), pp 443-462.
       - Best doctoral student paper at Southwest Finance Association Annual meeting.
• Entrenchment, Governance, and the Stock Price Reaction to Sudden Executive Deaths, 2010, Journal of Banking and Finance, Vol. 34 (3), pp 656-666.
• Minimum Variance Hedging when Spot Price Changes are Partially Predictable, 2008, with Louis H. Ederington, Journal of Banking and Finance, Vol. 32 (5), pp 654-663.