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Ryan Davies

Ryan J. Davies

Associate Professor; Faculty Director of the Cutler Center

Finance Division
B.A., St. Francis Xavier University
M.A., PhD., Queen's University, Kingston
Academic Division

Ryan J. Davies is an Associate Professor of Finance at Babson College, and the Faculty Director of the Stephen D. Cutler Center for Investments and Finance. He teaches advanced undergraduate and MBA finance electives, including Financial Trading Strategies and Risk Management, Fixed Income and Structured Products, Financial Markets and Institutions, Security Valuation, Options and Futures, and Capital Markets. He is passionate about experiential learning and incorporates trading simulation software and real-time market data into all of his courses. He is the faculty advisor for the Babson trading competition team, which has been very successful at the annual Rotman International Trading Competition. He has also served as faculty advisor for numerous award winning undergraduate business case competition teams.


Dr. Davies has been a visiting academic scholar at Paris-Dauphine University, the University of the West Indies, the University of Illinois, and the University of New South Wales.  Prior to joining Babson College in 2004, Dr. Davies was a lecturer for three years at the ICMA Centre of the University of Reading in England.  He has taught in a Babson executive education course for Siemens, in the International Capital Market Association's International Fixed Income and Derivatives program, and in the HSE Executive MBA program in Seoul, Korea.

Dr. Davies is an expert on financial market microstructure. His past research has examined diverse topics such as: the impact of European Union securities markets regulation (particularly MiFID); the role of market preopening sessions on price discovery; the usage of matched sample estimation to test for differences in trade execution costs; and the effects of strategic end-of-quarter trading by mutual fund managers.  He also helped develop a widely cited portfolio optimization method for funds of hedge funds. In recognition of the impact of this research, he won the Babson College Faculty Scholarship Award in 2011. 

Dr. Davies has several ongoing research projects, which examine questions such as: (i) how did financial intermediaries respond to an alleged manipulation of platinum and palladium futures settlement prices?; (ii) how do market frictions create systematic patterns in the delayed incorporation of public information into intraday stock prices?; (iii) how has high frequency trading impacted institutional trading costs and liquidity premiums?; (iv) how does trade in equity options impact the prices of their underlying stocks?; and (v) how should regulatory rates of return be adjusted for multi-year rate plans?

Dr. Davies is an active invited participant at the NBER Market Microstructure Working Group meetings, as well as a frequent presenter and discussant at conferences such as the Western Finance Association meetings and Financial Management Association meetings.  His research has been published in peer-reviewed journals such as the Journal of Financial Markets, Journal of Corporate Finance, Journal of Derivatives and Hedge Funds, Canadian Journal of Economics, Journal of Futures Markets, and Economics Letters.

Dr. Davies is available for consulting, expert witness testimony, and media interviews.  He is an affiliated expert at Sussex Economic Advisors and an academic advisor to Volos Portfolio Solutions.

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