Photo of Richard Marston

Richard Marston

James R.F. Guy Professor of Finance

Research Interests: foreign exchange risk management, international asset pricing, international investments

Links: Personal Website

Contact Information

Address: 3404 Steinberg-Dietrich Hall, 3620 Locust Walk, Philadelphia, PA 19104
Office: (215) 898-7626



PhD, Massachusetts Institute of Technology, 1972; BPhil, University of Oxford, 1968; AB, Yale University, 1966

Career and Recent Professional Awards; Teaching Awards

German Marshall Fund Fellow, 1981; Sanwa Bank Award, 1992

Academic Positions Held

Wharton: 1977-present (Director, Weiss Center for International Financial Research, 1992-present; Acting Director, U.S.-Japan Management Studies Center, 1989-91; named James R.F. Guy Professor of Finance and Economics, 1986). University of Pennsylvania: 1972-present. Visiting appointments: Kiel Institute; Institute for Monetary and Economic Studies, Bank of Japan; Chulalongkorn University, Thailand; Institute for Advanced Studies, Vienna; Ecole Superieure des Sciences Economiques et Commerciales, Paris; London Business School

Other Positions

Research Associate, National Bureau of Economic Research, 1979-present; Research Fellow, Brookings Institution, 1971-72

Professional Leadership 2005-2009

Associate Editor, Journal of International Money and Finance, 1981-present; Board of Editors, Empirical Economics, 1983-present; Board of Editors, Japan and the World Economy, 1987-present

In The News

Knowledge @ Wharton



  • FNCE208 - International Corporate Finance

    Analyzes financial problems corporations face that result from operating in an international environment. Major topics include managing exchange risk through hedging and financing, measuring exchange rate exposure, calculating the cost of capital for foreign operations, assessment of sovereign risks, capital budgeting from a project and parent perspective, and international taxation.

  • FNCE731 - International Corporate Finance

    This course analyzes financial problems corporations face that result from operating in an international environment. Major topics covered are corporate strategy and the decision to invest abroad, international portfolio diversification, managing exchange risk, taxation issues, cost of capital and financial structure in the multinational firm, and sources of financing. Departmental Website: Registration: Registration for MBA electives is handled through the MBA Course Auction. For questions about core courses or MBA electives that don't appear in the course auction please contact the MBA Program Office. Non-MBAs interested in graduate classes must work throught the academic department and the MBA Program Office.