About

Eugene F. Fama, 2013 Nobel laureate in economic sciences, is widely recognized as the "father of modern finance." His research is well known in both the academic and investment communities. He is strongly identified with research on markets, particularly the efficient markets hypothesis. He focuses much of his research on the relation between risk and expected return and its implications for portfolio management. His work has transformed the way finance is viewed and conducted.

Research topics

• Economics
• Physics
• Econometrics
• Law
• Market economy
• Accounting
• Financial economics
• Finance
• Microeconomics
• Mathematics
• Business
• Keynesian economics
• Statistics
• Monetary economics

Selected publications

• Is the Value Premium Smaller Than We Thought?: A Comment

  Critical Finance Review · 2025-01-01

  article1st authorCorresponding
  PublisherDOI

• Michael C. Jensen’s empirical work

  Journal of Financial Economics · 2025-06-20

  article1st author
  PublisherDOI

• House Prices and Rents

  Review of Financial Studies · 2024-10-29 · 3 citations

  article1st authorCorresponding

  Abstract Variation in monthly metro area house prices unrelated to expected rents clouds the information about future rents in price-rent ratios and lagged changes in house prices. The variation in house prices unrelated to expected rents is, however, correlated across areas, and the problem is mitigated by measuring rent growth regression variables net of their monthly cross-section (across-area) means. This control for price variation unrelated to expected rents substantially enhances the information about future rents that we extract from price-rent ratios and lagged changes in house prices.

  PublisherDOI

• PENGARUH PEMBIAYAAN PRODUK KUR SYARIAH TERHADAP PERKEMBANGAN UMKM KOTA PROBOLINGGO

  Finance. · 2024-08-30

  articleOpen accessSenior author

  This research aims to determine the influence of KUR Syariah product financing on the development of MSMEs. The population in this study were MSMEs who were registered as customers and used financing funds. By distributing questionnaires or questionnaires to customers at the CPS Probolinggo Sharia pawn shop, there were 70 respondents. The sample from this research used random sampling and obtained a sample of 41 respondents. For data analysis, we used the SPSS version 29 program. The results of the research showed that KUR Syariah product financing had a positive effect on the development of MSMEs at the CPS Probolinggo Sharia pawnshop. Customer business development has increased both in terms of business capital, increased turnover and increased income.

  PublisherOA PDFDOI

• House Prices and Rents

  SSRN Electronic Journal · 2024-01-01

  preprintOpen access1st authorCorresponding
  PublisherDOI

• Production of U.S. SMB and HML in the Fama-French Data Library

  SSRN Electronic Journal · 2023-01-01 · 7 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

• Regional Prosperity and Its Spillovers

  SSRN Electronic Journal · 2023-01-01

  articleOpen access1st authorCorresponding
  PublisherDOI

• The Fama Portfolio

  RePEc: Research Papers in Economics · 2021-01-20

  preprint1st authorCorresponding

  Few scholars have been as influential in finance and economics as University of Chicago professor Eugene F. Fama. Over the course of a brilliant and productive career, Fama has published more than one hundred papers, filled with diverse, highly innovative contributions. Published soon after the fiftieth anniversary of Fama’s appointment to the University of Chicago and his receipt of the Nobel Prize in Economics, The Fama Portfolio offers an authoritative compilation of Fama’s central papers. Many are classics, including his now-famous essay on efficient capital markets. Others, though less famous, are even better statements of the central ideas. Fama’s research considers key questions in finance, both as an academic field and an industry: How is information reflected in asset prices? What is the nature of risk that scares people away from larger returns? Does lots of buying and selling by active managers produce value for their clients? The Fama Portfolio provides for the first time a comprehensive collection of his work and includes introductions and commentary by the book’s editors, John H. Cochrane and Tobias Moskowitz, as well as by Fama’s colleagues, themselves top scholars and successful practitioners in finance. These essays emphasize how the ideas presented in Fama’s papers have influenced later thinking in financial economics, often for decades.

  Publisher

• Stimulus and the Permanent Income Hypothesis

  SSRN Electronic Journal · 2021-01-01 · 1 citations

  articleOpen access1st authorCorresponding
  PublisherDOI

• Short- Term Interest Rates as Predictors of Inflation

  American Economic Review · 2021 · 885 citations

  1st authorCorresponding
  • Economics
  • Keynesian economics
  • Monetary economics
  Publisher

Frequent coauthors

• Kenneth R. French

  Dartmouth College

  134 shared

• Michael C. Jensen

  24 shared

• Richard Roll

  California Institute of Technology

  10 shared

• G. William Schwert

  University of Rochester

  6 shared

• Merton H. Miller

  University of Chicago

  5 shared

• James D. MacBeth

  4 shared

• Milton Friedman

  4 shared

• Gary D. Eppen

  3 shared

Education

• B.S.

  Tufts University

  1960

• Other

  University of Chicago Graduate School of Business

  1964

• Ph.D.

  University of Chicago Graduate School of Business

  1964

Awards & honors

• First elected fellow of the American Finance Association (20…
• Fellow of the Econometric Society
• Fellow of the American Academy of Arts and Sciences
• Deutsche Bank Prize in Financial Economics (2005)
• Morgan Stanley American Finance Association Award for Excell…