Pamela Moulton is an expert in financial markets and market microstructure. Professor Moulton focuses on how market participants, including institutional investors, proprietary traders, and market makers, affect price discovery and liquidity. She researches the impact of high-frequency trading on information revelation in markets; how designated and voluntary market makers affect stock liquidity; and fraud detection in financial statements. Professor Moulton has more than thirty years of experience as an academic and in senior positions at global investment banks and the New York Stock Exchange (NYSE). She has been retained as an expert witness and testified in deposition.
Prior to her academic career, Professor Moulton served as a managing director and senior economist at the NYSE, where she conducted equity market microstructure research. Previously, she worked for more than a dozen years at various Wall Street firms, leading teams in fixed-income research, relative value research, financial futures and options strategies, and municipal trading strategies.
Professor Moulton publishes articles in leading finance and accounting journals, including the Journal of Finance, the Journal of Financial Economics, the Journal of Accounting and Economics, and the Journal of Financial and Quantitative Analysis. She serves as an associate editor of the Financial Review and the Journal of Financial Markets. Previously, she was an associate editor of the Journal of Banking and Finance.
Professor Moulton is a research affiliate of the Cornell FinTech Initiative and the Cornell Institute for Behavioral and Household Finance. She is also a member of the Economic Advisory Board of the Financial Industry Regulatory Authority (FINRA).
At Cornell’s SC Johnson College of Business, Professor Moulton teaches courses in finance, fixed income analysis, and valuation to undergraduate and graduate students. She has been honored with numerous awards for teaching excellence. Before joining the Cornell faculty, she taught M.B.A. courses in finance, fixed income, and financial markets at the Fordham University Graduate School of Business Administration.