John D. Finnerty, PhD

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John D. Finnerty, PhD

Dr. John D. Finnerty is Professor of Finance at Fordham University’s Gabelli School of Business where he was the founding Director of the Master of Science in Quantitative Finance Program.  He has taught courses in fixed income analysis, fixed income securities, fixed income portfolio management, corporate finance, investment banking, principles of finance, securities innovation, and bankruptcy and restructuring. 

Dr. Finnerty is a former President and Director of the Fixed Income Analysts Society.  He was inducted into the Fixed Income Analysts Society Hall of Fame in 2011.  Dr. Finnerty is a former Director of the Financial Management Association.  He is also a Trustee and a former Chair of the Trustees and a former President and Director of the Eastern Finance Association.  He served as a member of FASB’s Option Valuation Group in connection with the revision of FAS 123. 

Dr. Finnerty is also Managing Principal of Finnerty Economic Consulting, LLC.  He specializes in business valuation, securities valuation, derivatives valuation, solvency analysis, calculation of damages, and litigation support.  He has testified as an expert in valuation, broker raiding, and securities and other financial matters in federal and state court and in arbitration and mediation proceedings.  He has also testified as an expert in bankruptcy court concerning valuation, debt-for-debt exchange offers, and the fairness of proposed plans of reorganization.

Dr. Finnerty has published 16 books, including Corporate Financial Management, 5th ed., Project Financing: Asset-Based Financial Engineering, 3rd ed., Principles of Financial Management, and Debt Management, and more than 120 articles and professional papers in fixed income, corporate finance, business and securities valuation, and other areas of finance.  His published papers include 10 articles in law reviews and other legal publications, which mainly address damages calculation methodologies and derivatives litigation.  His writings and teaching have focused on the analysis and valuation of securities, especially fixed income instruments and complex derivative products, and mortgage-backed and other asset-backed securities.  Dr. Finnerty is a former editor of Financial Management, one of the leading academic finance journals, and a former editor of FMA Online.  He is a former member of the editorial advisory boards of the Journal of Portfolio Management and the International Journal of Portfolio Analysis & Management and a former associate editor of the Journal of Applied Finance.

Two of Dr. Finnerty’s articles, “An Average-Strike Put Option Model of the Marketability Discount,” which was published in the Journal of Derivatives in 2012, and “The Impact of Stock Transfer Restrictions on the Private Placement Discount,” which was published in Financial Management in 2013, develop the average-strike put option model of the discount for lack of marketability and validate the model by testing it on a sample of common stock private placements.  The model is widely used by stock appraisers, and it has been recommended on the SEC’s website as a useful resource for calculating marketability discounts.

June 2021

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