Christopher Geczy

Christopher Geczy
  • Adjunct Full Professor of Finance
  • Academic Director, Wharton Wealth Management Initiative Academic Director,Jacobs Levy Equity Management Center for Quantitative Financial Research

Contact Information

  • office Address:

    2258 Steinberg-Dietrich Hall
    3620 Locust Walk
    Philadelphia, PA 19104

Overview

Chris Geczy has been on the Finance Department faculty at the Wharton School of the University of Pennsylvania since 1997. He is Academic Director of the Jacobs Levy Equity Management Center for Quantitative Financial Research. He is also Academic Director of the Wharton Wealth Management Initiative at Wharton Executive Education. He has a B.A. in economics from the University of Pennsylvania and a Ph.D. in finance and econometrics from the Graduate School of Business at the University of Chicago (now the Booth School).

Dr. Geczy regularly teaches investment management and co-created the first full course on hedge funds at The Wharton School. In 2013, he created the school’s first survey course in sustainable/ESG investing, open to undergraduates as well as MBA and Executive Education students. He has created and taught many courses at Wharton Executive Education, and he has taught AIMR/CFA Institute-accredited professional Risk Management courses through the University of Chicago’s Booth School of Business.

He has been the Academic Director of a number of Wharton Executive Education programs including the 2009 Securities Industry Institute in partnership with SIFMA, the Private Wealth Management program in partnership with The CFA Institute, and programs for the Investments and Wealth Institute (formerly IMCA). In addition, he has taught Investment Management in the Penn-Securities Association of China (Penn-SAC) program for a number of years. He received the Best Elective Course Teaching Award in the Wharton Executive MBA Program and the Wharton Teaching Excellence Award for the 2017-2018 academic year.

Dr. Geczy’s current research focuses on various topics including multifactor models, wealth management, risk management, asset allocation, the performance of managed funds including hedge funds, venture capital and private equity as well as other alternatives, Impact Investing and ESG incorporation in funds and portfolios, and various aspects of equity lending and short-selling. His work has appeared in numerous books and scholarly journals including the Journal of Finance, Journal of Financial Economics, Journal of Portfolio Management, The Society for Industrial and Organizational Psychology and the Journal of Political Economy. In 2018, Dr. Geczy and co-authors won the Investment for Impact Prize of the Center for Responsible Business at the University of California, Berkeley’s Haas School of Business for their research paper “Contracts With (Social) Benefits: The Implementation of Impact Investing.”

He currently serves on Intel’s US Retirement Plans’ Investment Policy Committee. He has served on the Economic Advisory Board of NASDAQ and has been an editor of the Journal of Alternative Investments. He is currently Founding Co-Editor of the Financial Planning Review, the academic journal of the CFP® Board Center for Financial Planning. He is also a founding board member and past Chairman of the Mid-Atlantic Hedge Fund Association and serves an Affiliated Faculty member of the Wharton Social Impact Initiative and formerly of the Wharton Sports Business Initiative. Dr. Geczy also serves as a Trustee and member of the Investment Committee of The Episcopal Academy.

His research has been reported in the Wall Street Journal, the New York Times, the Financial Times, Forbes, NPR, on CNBC’s “Squawk Box,” and in numerous other media.

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Research

Teaching

Current Courses

  • FNCE254 - Impact Investing

    This course explores Impact Investing, a discipline that seeks to generate social benefits as well as financial returns. From tiny beginnings, the Impact Investment space has expanded and now commands significant attention from policymakers, wealthy and public-spirited individuals, academia and, not least, the world's largest asset managers and philanthropic foundations. Evangelists believe it may be the key to freeing the world from poverty. Skeptics think it will remain confined to the boutique. Regardless, Impact Investing is becoming a distinct career specialization for finance professionals despite the diverse skillset each must have and the uncertainty of the new field's growth. In addition to prerequisites, FNCE 205 is recommended but not required.

    FNCE254001 ( Syllabus )

    FNCE254002 ( Syllabus )

  • FNCE754 - Impact Investing

    This course explores Impact Investing, a discipline that seeks to generate social benefits as well as financial returns. From tiny beginnings, the Impact Investment space has expanded and now commands significant attention from policymakers, wealthy and public-spirited individuals, academia and, not least, the world's largest asset managers and philanthropic foundations. Evangelists believe it may be the key to freeing the world from poverty. Skeptics think it will remain confined to the boutique. Regardless, Impact Investing is becoming a distinct career specialization for finance professionals despite the diverse skillset each must have and the uncertainty of the new field's growth. In addition to prerequisites, FNCE 705 is recommended but not required.

    FNCE754001 ( Syllabus )

    FNCE754701

Past Courses

  • EAS 499 - SENIOR CAPSTONE

    The Senior Capstone Project is required for all BAS degree students, in lieu of the senior design course. The Capstone Project provides an opportunity for the student to apply the theoretical ideas and tools learned from other courses. The project is usually applied, rather than theoretical, exercise, and should focus on a real world problem related to the career goals of the student. The one-semester project may be completed in either the fall or sprong term of the senior year, and must be done under the supervision of a sponsoring faculty member. To register for this course, the student must submit a detailed proposal, signed by the supervising professor, and the student's faculty advisor, to the Office of Academic Programs two weeks prior to the start of the term.

  • FNCE205 - INVESTMENT MANAGEMENT

    This course studies the concepts and evidence relevant to the management of investment portfolios. Topics include diversification, asset allocation, portfolio optimization, factor models, the relation between risk and return, trading, passive (e.g., index-fund) and active (e.g., hedge-fund, long-short) strategies, mutual funds, performance evaluation, long-horizon investing and simulation. The course deals very little with individual security valuation and discretionary investing (i.e., "equity research" or "stock picking"). In addition to course prerequisites, STAT 102 may be taken concurrently.

  • FNCE254 - IMPACT INVESTING

    This course explores Impact Investing, a discipline that seeks to generate social benefits as well as financial returns. From tiny beginnings, the Impact Investment space has expanded and now commands significant attention from policymakers, wealthy and public-spirited individuals, academia and, not least, the world's largest asset managers and philanthropic foundations. Evangelists believe it may be the key to freeing the world from poverty. Skeptics think it will remain confined to the boutique. Regardless, Impact Investing is becoming a distinct career specialization for finance professionals despite the diverse skillset each must have and the uncertainty of the new field's growth. In addition to prerequisites, FNCE 205 is recommended but not required.

  • FNCE399 - INDEPENDENT STUDY

    Integrates the work of the various courses and familiarizes the student with the tools and techniques of research.

  • FNCE705 - INVESTMENT MANAGEMENT

    (Formerly FNCE 720) This course studies the concepts and evidence relevant to the management of investment portfolios. Topics include diversification, asset allocation, portfolio optimization, factor models, the relation between risk and return, trading, passive (e.g., index-fund) and active (e.g., hedge-fund, long-short) strategies, mutual funds, performance evaluation, long-horizon investing and simulation. The course deals very little with individual security valuation and discretionary investing (i.e., "equity research" or "stock picking").

  • FNCE754 - IMPACT INVESTING

    This course explores Impact Investing, a discipline that seeks to generate social benefits as well as financial returns. From tiny beginnings, the Impact Investment space has expanded and now commands significant attention from policymakers, wealthy and public-spirited individuals, academia and, not least, the world's largest asset managers and philanthropic foundations. Evangelists believe it may be the key to freeing the world from poverty. Skeptics think it will remain confined to the boutique. Regardless, Impact Investing is becoming a distinct career specialization for finance professionals despite the diverse skillset each must have and the uncertainty of the new field's growth. In addition to prerequisites, FNCE 705 is recommended but not required.

  • FNCE899 - INDEPENDENT STUDY

    Independent Study Projects require extensive independent work and a considerable amount of writing. ISP in Finance are intended to give students the opportunity to study a particular topic in Finance in greater depth than is covered in the curriculum. The application for ISP's should outline a plan of study that requires at least as much work as a typical course in the Finance Department that meets twice a week. Applications for FNCE 899 ISP's will not be accepted after the THIRD WEEK OF THE SEMESTER. ISP's must be supervised by a Standing Faculty member of the Finance Department.

  • FNCE950 - RESEARCH SEMINAR IN FIN

    This course may be offered (and taken by a student) several times a year with varying topics.

  • HCMG899 - INDEPENDENT STUDY

    Arranged with members of the Faculty of the Health Care Systems Department. For further information contact the Department office, Room 204, Colonial Penn Center, 3641 Locust Walk, 898-6861.

  • INSP399 - HONORS THESIS

    The senior thesis course is a capstone for seniors in the Huntsman Program in International Studies and Business. Students in the Huntsman Program should consult with the Huntsman Program advisors for more information.

Awards and Honors

  • Investment for Impact Research Prize, Center for Responsible Business, Haas School of Business, University of California, Berkeley, 2018., 2019
  • Wharton Teaching Excellence Award, 2017-2018, 2017-2018
  • Best Paper Award, Annual Conference on Market Structure and Market Integrity, 2006
  • Best Elective Course Teaching Award, Wharton West, Executive MBA Program, 2006
  • Caesarea Prize for the Best Paper on Risk Management, Western Finance Association, for ”Taking a View: On Corporate Speculation and Governance”, 2004
  • Weiss Center for International Financial Research research grant, 2004
  • Moskowitz Prize (Honorable Mention) for ”Investing in Socially Responsible Mutual Funds”, 2003
  • The Bank of Canada Award for ”The Limits to Dividend Arbitrage: Implications for Cross-Border Investment”, 2003
  • Zicklin Center Research Grant for “The Performance of Socially Screened Mutual Funds and the Convictions of Investors”, 2002-2003
  • Q Group Research Grant for ”Stocks are Special, Too”, 2000-2001
  • Nominated for the Smith Breeden Prize for the best paper in the Journal of Finance for “Why Firms Use Currency Derivatives”, 1997
  • Rodney L. White Center (Wharton) research grants, 1997 (1), 1999 (2), 2001(1), 2002(2), 2003, 2004, 1997-2004
  • Center for Research in Security Prices Research Grant, 1993-1994

Activity

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