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Released Februrary 4, 2004

SOUTHERN MISS PROFESSOR OF FINANCE NAMED
RESEARCH FELLOW BY ACADEMIC ORGANIZATION
By Angela Cutrer

HATTIESBURG - Dr. Tom Lindley, professor of finance at The University of Southern Mississippi, will be named a research fellow of the Academy of Economics and Finance during the organization's 31st annual meeting Feb. 11-14 at Casino Magic Hotel in Biloxi.

This is the group's highest award and recognizes lifetime accomplishments.

"This award is a recognition of a long-term member of the academy who has done 'notable' research over his or her career," said Lindley, with a humble smile. "The greatest thing about it is you are recognized by your peers for your accomplishments - not only the most appropriate arena, but the most knowledgeable arena. Others can only go on what others say (about you), so recognition by your peers is a pretty important thing."

Lindley and Dr. George Carter, Southern Miss professor of economics, are the co-chairs for local arrangements for the conference, at which Shalini Chandra, a Southern Miss student, will present "The Digital Divide among Countries." About 150 professionals from 25 states and 10 countries are expected to attend.

The academy's meeting in Biloxi will include presentations on a variety of topics, including economics education, world financial markets and consumer economics. The keynote speaker, Mike Edleson, recently became head of Global Equity Risk Management for Morgan Stanley after a period as senior vice president and chief economist at NASDAQ. Edleson has extensive experience in the financial market and is a published author. He earned a bachelor's degree from the U.S. Military Academy at West Point and a master's and a doctorate in economics and finance from Massachusetts Institute of Technology.

"Involvement with visible events like the AEF meeting sends an important message that contributes to our status as a leading business school," said Dr. Harold Doty, dean of the College of Business and Economic Development. "Not only does it say something about our reputation, but it also says a great deal about the quality of our faculty when one of our own - Dr. Lindley - is being honored."

Lindley says he is most proud of four specific projects in which he's been involved. The first is the publication of "Inputs, Outputs, and a Theory of Production and Costs at Depository Financial Institutions" in the September 1977 Journal of Finance.

The work was co-authored with Lindley's longtime friend, Calvin W. Sealy. "This article has more than 100 citations and it has become part of the mainstream of banking theory," Lindley said. "It's an article where I think I've made the biggest contribution, and it's had the greatest impact of anything I've published. It provided a theoretical framework on how banks provide their services and use their inputs, i.e., deposits, buildings, and so on, thus allowing researchers to focus on banks as a normal business similar to other businesses, rather than something unique."

Lindley is also proud of three other works: "Gender Differences in Salaries: An Application to Academe," co-authored with Mary Fish and John Jackson in the October 1992 Southern Economic Journal; "Measuring the Extent of Wage Discrimination: A Statistical Test and Caveat," co-authored with John Jackson in the April 1989 issue of Applied Economics; and "Racial Discrimination in the Provision of Financial Services," co-authored with John Jackson and Edward B. Selby Jr. in the September 1984 issue of American Economic Review.

Lindley, 64, earned an associate's degree in business administration from Lees- McRae College, a bachelor's degree from the University of North Carolina at Asheville and a doctorate from the University of Georgia. He has more than 20 years of teaching experience in economics and finance, including banking and financial institutions, and corporate and international finance. He has published numerous professional journal articles, papers, and book chapters, and was editor of the Journal of Economics and Finance from 1993 to 1995.

Lindley has served as a professor of finance at the University of Alabama, professor of finance and of economics at Old Dominion University, staff director of the Revenue Commission of the Virginia State Legislature, housing programs director at the Virginia Office of Housing, and an instructor at Virginia Commonwealth University and the University of Georgia. He was principal investigator for a study of the Virginia Unemployment Trust Fund under the auspices of the governor's office, and has experience as an expert witness in cases involving evaluation of financial loss, evaluation of property and statistical constructs.

Lindley and his wife, Dr. Sharon Topping, professor of management in the CEBD, have lived in Hattiesburg for 13 years.

The Academy of Economics and Finance is a professional association "dedicated to the furtherance of economics and finance knowledge, practice and image. The academy supports economics and finance advancement through the functions of teaching, research and service," its Web site notes.

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February 12, 2004 4:02 PM

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