Nicholas Tay

Nicholas Tay


Full-Time Faculty
Malloy Hall, Room 229


Professor Nicholas Tay’s research focuses on building theoretical models and conducting empirical studies to understand how human behaviors and market frictions interplay to affect the pricing of financial assets and the stability of financial markets. He uncovers relationships and patterns through financial econometrics and non-economic concepts, including agent-based modeling, social network analysis, cellular automata, genetic programming, fuzzy logic, chaos theory, fractal analysis, wavelet analysis, statistical mechanics, and universality.

A dedicated teacher, Dr. Tay fully embraces Jesuit values and promotes intellectual, spiritual, and moral growth throughout his courses. He aims to provide students with the skillsets to lead in their personal and professional lives, investing a great deal in teaching and motivating students to pursue their own doctoral degrees in accounting or finance. Tay imparts his expertise in investments, asset pricing, capital markets research, agent-based modeling, and social network analysis, as well as the skills essential to conducting academic research in these areas.

Dr. Tay is a member of the American Finance Association, American Economic Association, and the Financial Management Association.


  • Editor-in-Chief, Journal of Asia Business Studies, Emerald Publishing, 2008 - 2010
  • Editorial Board Member, International Financial Markets, 2009 - present
  • Special Issue Editor, International Review of Economics and Finance, 2009-2010
  • Special Issue Editor, Chinese Economy, 2010-2011 and 2013-2014


  • PhD, Finance, Price College of Business, University of Oklahoma, Norman, OK
  • ABD, Physics, Florida State University, Tallahassee, FL
  • MS, Physics, Florida State University, Tallahassee, FL
  • BS with Honors, Physics, Florida State University, Tallahassee, FL

Awards & Distinctions

  • Outstanding Teaching Award, USF School of Management, 2001

  • Outstanding Research Award, USF School of Management, 2007, 2008, 2010 and 2012

  • Barnett Fellowship, 1992 - 1995

  • Harold S. Cooksey Fellowship, 1992

  • Chair, Faculty Development Committee, USF School of Management, 2009 - 2011

  • Chair, Finance Search Committee, USF School of Management, 2010 - 2011, 2012

Selected Publications