Geoffrey C. Friesen

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Geoffrey C. Friesen

Associate Professor Finance University of Nebraska-Lincoln

Contact

Address
HLH 425N
Lincoln, NE 68588-0490
Phone
402-472-0851 On-campus 2-0851
Email
gfriesen2@unl.edu
Website
Website
Social Media

My research interests include behavioral finance, investments, business ethics, and the philosophical foundations of financial models. My early research focused on the role of human cognition in decision making, measuring how actual decisions depart from “rational” behavior. More recently, my research has examined the philosophical assumptions and human anthropology embedded in our definitions of “rational financial behavior,” and whether those assumptions are consistent with the Christian understanding of the human person.

A central theme in my current work is the subjective dimension of work: how meaningful participation, purpose, trust, dignity, and human flourishing are often bracketed out of financial and economic models, and what is lost when they are treated as external to economic value. I am especially interested in the performative role of financial models: how they form our worldviews, influence actual decisions, and thereby shape future social reality.

Some of my recent work focuses on narrative capital and the moral ecology of the firm: the norms, expectations, incentives, and governance structures that make certain actions intelligible, attractive, or even conceivable within organizations. I also study what I call paradox goods: goods that generate economic benefits, but only when pursued for reasons other than creating economic benefit (such as higher-purpose, psychological safety, trust, care, etc.). This work has led me to examine how governance structures, financial models, and theories of the firm can either protect or undermine the necessary conditions for stakeholder flourishing.

I also examine contemporary technocratic visions of capitalism, including the World Economic Forum’s Great Reset Initiative, with particular attention to their implications for personal autonomy, authentic human freedom, and the Christian understanding of the human person.

And lastly, I am quite interested in how artificial intelligence is changing business education, especially case-method teaching. Rather than treating AI primarily as a cheating problem, some of my recent scholarship asks how educators can use AI to raise the standard for student work by requiring forms of judgment, moral reasoning, and contextual insight that cannot be outsourced to a large language model (using AI as a cross-trainer, not a crutch.  For a taste of these ideas, click here: https://iveybusinessjournal.com/elevating-case-method-teaching-in-the-age-of-artificial-intelligence/).

Selected Publications and Current Work:

Teaching Innovation and Public Scholarship

“Elevating Case Method Teaching in the Age of Artificial Intelligence,” 2026, with Robert Mackalski, Seth Polsley, and Marc Ducusin, Ivey Business Journal.

Education

Ph.D. University of Iowa (2003)
B.S. University of Nebraska-Lincoln (1995)

Areas of Expertise

  • Behavioral finance; investments; business ethics; Catholic Social Teaching and economic life; financial models and human flourishing; corporate governance; stakeholder engagement; AI and business education.

Research Interests

  • Financial models and human flourishing
  • Corporate governance and moral ecology
  • Stakeholder engagement and paradox goods
  • Narrative capital and the firm
  • Behavioral finance and investor decision-making
  • Artificial intelligence, judgment, and case-method teaching
  • Catholic Social Teaching, finance, and the human person

Appointments

  • Assistant Professor 2005-2011
  • Associate Professor 2011-present

Editorial and Professional Service

Co-Editor, Faith & Economics, a peer-reviewed academic journal of the Association of Christian Economists. The journal publishes academic articles, surveys, and book reviews offering perspectives from the Christian tradition on economics, and all research articles undergo double-blind peer review.

Past Publications

  • “Human Flourishing and the Self-limiting Assumptions of Modern Finance”, 2022,  Journal of Business and Professional Ethics.
  • "Laborem Exercens and the Subjective Dimension of Work in and Finance", 2022, in Holiness through Work: Commemorating the Encyclical Laborem Exercens. Martin Schlag ed., 2022 Saint Augustine Press.
  • “The Effect of Unsuccessful Past Repurchases on Future Repurchasing Decisions”, 2021 with P. Jeutang and E. Unlu,  Management Science.
  • “Human Flourishing and the Subjective Dimension of Work”, 2020, Faith & Economics.
  • Payne, B., J. Tresl and G. Friesen, 2018, “Sentiment and Stock Returns: Anticipating Major Sports Events”, Journal of Sports Economics, 19 (6).
  • Feng, Shu, Yi Zhang (former PhD Student) and Geoffrey Friesen, 2015, “The relationship between the option-implied volatility smile, stock returns and heterogeneous beliefs”, International Review of Financial Analysis, 41, 62-73.
  • Dunham, Lee (former PhD Student) and Geoffrey Friesen, 2012, “Building a Better Mousetrap: Enhanced Dollar Cost Averaging,” The Journal of Wealth Management, 15(1), 41-50.
  • Friesen, Geoffrey, Yi Zhang (UNL PhD Student) and Tom Zorn, 2012, “Heterogeneous Beliefs and Risk-Neutral Skewness,” Journal of Financial and Quantitative Analysis, 47 (4), 851-872.
  • Friesen, Geoffrey and Chris Swift (UNL PhD Student), 2009, “Investor Behavior in the Thrift IPO Aftermarket,” Journal of Banking and Finance, 33(7), 1285-1298.
  • Friesen, Geoffrey, Paul Weller and Lee Dunham (UNL PhD Student), 2009, “Price Trends and Patterns in Technical Analysis: A Theoretical and Empirical Examination,” Journal of Banking and Finance, 33 (6), 1089-1100.
  • Farrell, Kathy, Geoffrey Friesen and Phil Hersch, 2008, “How Do Firms Adjust Director Compensation?,” The Journal of Corporate Finance, 14(2), 153-162.
  • Friesen, Geoffrey and Travis Sapp. 2007. “Mutual Fund Flows and Investor Returns: An Empirical Examination of Mutual Fund Investor Timing Ability,” The Journal of Banking and Finance, 31(9), 2796-2816.
  • Friesen, Geoffrey. 2007,  “On the Lack of Participating Policy Usage by Stock Insurers,” Journal of Risk and Insurance, 74(1), 225-246.
  • Dunham, Lee (UNL PhD Student) and Geoffrey Friesen, 2007, “An Empirical Examination of Jump Risk in U.S Equity and Bond Markets,” The North American Actuarial Journal, 76-90.
  • Friesen, Geoffrey and Paul Weller, 2006 (lead article). “Quantifying Cognitive Biases in Analyst Earnings Forecasts,” Journal of Financial Markets, 9(4), 333-365.

 

 

Teaching Awards

UNL MBA Distance Teaching Award Recipient 2015-16, 2017-18, 2025-26

Graduate Courses

Managerial Economics (GRBA 812) - Economic analysis applied to business decisions.  Key modules include history of capitalism, economic costs & benefits, marginal analysis, simple & complex pricing, international economics, financial market bubbles, price discrimination strategies, game theory & bargaining, adverse selection and moral hazard.

Advanced Financial Theory (FIN 961) - Introductory PhD seminar focused on foundations of financial theory applied to asset pricing and corporate finance.

Undergraduate Courses

Strategic Financial Management (FIN 475), Investments (FIN 363), Security Analysis (FIN 463), Options & Futures (FIN 467), Portfolio Practicum (FIN 468)  

Teaching Interests

  • Investments
  • Advanced Financial Theory
  • Managerial Economics

Other Courses

  • Great Books, Catholic Social Teaching & Economic Thought
  • Business Ethics and The Gospel