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Unro Lee, Ph.D.

Professor of Finance

Contact

Phone: 209.946.2626
Email: ulee@pacific.edu

Education

Purdue University, Ph.D.

Indiana University, M.A.

University of Southern California, B.A.

Curriculum Vitae 

Unro Lee is a Professor of Finance at the Eberhardt School of Business in the University of the Pacific in Stockton, California. His research interests include intertemporal behavior of asset (stocks and bonds) prices, interaction of macroeconomic variables and stock and bond returns, Pacific Rim securities markets, and applied econometrics. His papers have been published in academic journals such as the Journal of Financial Research, Journal of Business Finance and Accounting, Journal of Economics and Business, International Review of Economics and Finance, Quarterly Journal of Business and Economics, and Multinational Finance Journal, among others. Lee has received Outstanding Scholar Award from the Eberhardt School of Business three times (1993, 1994, 1998) and Best Paper Award from the Western Decision Science Institute in 1994.

Lee has an undergraduate degree in Economics from the University of Southern California in Los Angeles, California, a masters degree in Economics from the Indiana University in Bloomington, Indiana, and a doctorate degree in Economics, with emphasis on Macromonetary Theory, Finance and Econometrics from Purdue University's Krannert Graduate School of Management in West Lafayette, Indiana. Before coming to the University of the Pacific, Lee taught at Purdue University-Calumet in Hammond, Indiana and Catholic University of America in Washington, D.C.

 

UNDERGRADUATE
Principles of Finance
Intermediate Corporate Finance
Investment Analysis
Financial Markets and Institutions
Options and Financial Futures
International Financial Management
Business Statistics
Principles of Economics
Introductory and Intermediate Microeconomics
Managerial Economics
Student Investment Fund (SIF)
Introductory Macroeconomics

GRADUATE
Principles of Finance (MBA)
Corporate Finance (MBA)
Case Studies in Finance (MBA)
Financial Markets (MBA)
Seminar in Financial Theory and Practice (MBA)
Investment Management (MBA)
Principles of Economics (MBA)
Managerial Economics (MBA)
Student Investment Fund (SIF)
Econometrics (Ph.D)

 

REFEREED JOURNAL PUBLICATIONS:

  • "Forecasting Inflation Rate for Inflation-Targeting Countries: A Comparison of Predictive Performance of Alternative Inflation Models", to be submitted, Eastern Economic Journal, Fall 2010.
  • "The Impact of Inflation Targeting Regime on the Relationship between Stock Returns and Inflation: International Evidence", Global Business and Finance Review , Vol. 15, No.1(Spring 2010), pp. 40-52.
  • "Business Conditions and Non-Random Walk Behavior of U.S. Stocks and Bonds Returns" (with Benjamas Jirasakuldech and Riza Emekter), Applied Financial Economics, Vol.18, Issue 8 (2008), pp.659-672.
  • "Stock Returns and Fiscal Policy: Additional International Evidence", Indian Journal of Economics and Business, Vol.6, No. 2 (2007), pp. 241-256.
  • "U.S. Asset Returns and Fiscal Policy: New Empirical Investigation", Quarterly Journal of Business and Economics, Vol. 43, Nos. 3 & 4 (Summer/Autumn 2004), pp. 31-47.
  • "A Test of the Proxy Effect Hypothesis: Evidence from the Pacific Basin Countries", Quarterly Journal of Business and Economics, Vol.37, No.3 (Summer 1998), pp. 40-52.
  • "Stock Market and Macroeconomic Policies: New Evidence for the Pacific Basin Countries", Multinational Finance Journal, Vol.1, No.4 (December 1997), pp. 273-289.
  • "Stock Market Efficiency and Monetary Policy: New International Evidence", International Journal of Finance, Vol.9, No.2 (1997), pp. 635-649.
  • "Further Empirical Test of the Proxy-Effect Hypothesis: Some International Evidence", Journal of International Financial Markets, Institutions and Money, Vol.6, No. 2/3 (1996), pp. 35-46.
  • "Relationship between Volatility and Expected Returns Across International Stock Markets", Journal of Business Finance and Accounting, Vol.22, No.2 (March 1995), pp. 289 - 300 (with Panayiotis Theodossiou). 
  • "The Impact of Financial Deregulation on the Relationship between Stock Prices and Monetary Policy", Quarterly Journal of Business and Economics, Vol.33, No.3 (Summer 1994), pp. 37 - 50.
  • "Time-Varying Betas and Volatility Persistence in International Stock Markets", Journal of Economics and Business, Vol.46, No.2 (May 1994), pp. 101 - 112 (with Panayiotis Theodossiou and Gregory Koutmos).
  • "Mean and Volatility Spillovers Across Major National Stock Markets: Further Empirical Evidence", Journal of Financial Research, Vol.16, No.4 (Winter 1993), pp. 337 - 350 (with Panayiotis Theodossiou).
  • "Do Stock Prices Follow Random Walk?: Some International Evidence", International Review of Economics and Finance, Vol.1, No.4 (December 1992), pp. 315 - 327.
  • "Stochastic Expected Stock Returns: Some International Evidence", Journal of The Midwest Finance Association, Vol.20 (1991), pp. 81 - 95 (with Gregory Koutmos).

BOOK CHAPTERS:

  • "Relationship between Volatility and Expected Returns across International Stock Markets", in Volatility: New Estimation Techniques for Pricing Derivatives 1998, Robert Jarrow (eds.), Risk Publications, pp.267- 273 (with P. Theodossiou).

ACADEMIC CONFERENCE PRESENTATIONS: 

  • "Forecasting Inflation Rate for Inflation-Targeted Countries: Comparative Performances of ARIMA and Phillips Curve Models", presented at the Western Social Sciences (Economics) Association Conference, April 2009; Eastern Economic Association Conference, February 2010; and Northeast Decision Sciences Institute Conference , April 2011.
  • "The Impact of Inflation Targeting Regime on the Relationship between Stock Returns and Inflation: International Evidence", presented at the Midwest Economic Association Conference, March 2008; Southern Economic Association Conference, November 2008; and International Atlantic Economic Society Conference, October 2009.
  • "Stock Returns and Fiscal Policy: New International Evidence", presented at the Western Decision Sciences Institute Conference, April 2001; Business and Economics Society International Conference, July 2002; Midwestern Economics Association Conference, March 2004; North American Economic and Finance Association Conference, January 2006; Eastern Economic Association Conference, February 2007; and Association for Global Business Conference, November 2007 .
  • "The Persistence of Abnormal Returns in U.S. Bonds and Stocks", presented at the Eastern Economic Association Conference, March 2005.
  • "U.S. Asset Returns and Fiscal Policy: New Empirical Investigation", presented at the Eastern Economic Association Conference, March 2002; and Financial Management Association Conference, October 2003.
  • "Stock Market and Macroeconomic Policies: New Evidence for the Pacific Basin Countries", presented at the Multinational Finance 
  • Conference, June 1998, and Financial Management Association Conference, October, 1998.
  • "A Test of the Proxy-Effect Hypothesis: Evidence from Pacific Basin Countries", presented at the Western Decision Sciences Institute Conference, March 1997, and Midwest Finance Association Conference, March, 1998.
  • "Stock Returns and Fiscal Policy: An Empirical Investigation", presented at the Financial Management Association Conference, October 1996.
  • "Stock Market Efficiency and the Federal Budget Deficit: New International Evidence", presented at the 3rd Annual Conference on Multinational Financial Issues, June 1996. 
  • "Stock Market Efficiency and Monetary Policy: New International Evidence", presented at the Multinational Financial Conference, June 1995; and Global Finance Conference, April 1996. 
  • "Further Empirical Test of the Proxy-Effect Hypothesis: Some International Evidence", presented at the Second Annual Global Finance Conference, May 1995.
  • "Relationship Between Inflation and Real Stock Prices Across International Stock Markets: New Test of the Proxy-Effect Hypothesis", presented at the Annual Conference on Multinational Financial Issues, June 1994.
  • "Stock Returns as Predictors of Inflation Across International Stock Markets", presented at the Western Social Sciences (Finance) Associations Conference, April 1993; and Western Decision Sciences Institute Annual Conference, April 1994.
  • "New Evidence on the Relationship Between Stock Returns and Volatility", presented at the Midwest Finance Association Meeting, March 1992. 
  • "Persistence of Volatility in Stock Returns: Some International Evidence", presented at the Southwestern Finance Association Meeting, March 1992.
  • "Stock Returns as Predictors of Inflation: Some International Evidence", presented at the Western Social Sciences (Finance) Associations Meeting, April 1991. 
  • "Stock Prices, Money Supply, Interest Rates, and the Efficient Market Hypothesis", presented at the Western Social Sciences (Finance) Associations Meeting, April 1991.
  • "Do Stock Prices Follow Random Walk?: Evidence from Other Countries", presented at the Western Social Sciences (Finance) Association Meeting, April 1991. 
  • "A Comparison of Alternative Lag-Length Selection Techniques in Tests of Efficient Market Hypothesis", presented at the Western Social Sciences (Finance) Associations Conference, April 1991.
  • "Stochastic Expected Stock Returns: Some International Evidence" (with G. Koutmos), presented at the Midwest Finance Association Conference, April 1991.