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William J. Procasky

Assistant Professor

Financial Economics Faculty

(724) 946-7162

curriculum vitae

Campus Location:
   Thompson Clark
Mailbox: 142

Spring 2019 Office Hours:

MWF: 9:30am - 10:30am

TR: 11:00am - 11:45am

(and by appointment)

About Me

  • I bring over 20 years of practitioner experience in financial derivatives, commodity trading, structured finance, corporate banking and economic analysis to the classroom;
  • Most recently, I was Chief Credit Officer for the largest energy derivative trader in North America, responsible for managing a $23 bn credit portfolio;
  • While in corporate banking and structured finance, I worked closely with investment grade and high yield borrowers on a wide variety of loan and asset backed structures;
  • I am also Principal and founder of Procasky Risk Management Advisors LLC and a CFA Charterholder;
  • I have taught university-level finance and economics courses at Texas A&M International University, an AACSB accredited institution;
  • I have also published research in peer reviewed finance journals, including the Journal of International Money and Finance, International Journal of Portfolio Analysis and Management, Journal of Finance and Accounting and CFA Digest;
  • My primary research interests are credit derivatives, debt capital markets, financial market efficiency and financial statement analysis;
  • Finally, I am fluent in German and as a product of an undergraduate liberal arts institution, have first-hand knowledge of how such an education can give students a competitive advantage in their careers.

Companies worked for:

  • Procasky Risk Management Advisors, Houston TX & Pittsburgh, PA
  • BP Energy Co., Houston, TX
  • ABN AMRO, New York, NY
  • DZ Bank Deutsche Zentral-Genossenschaftsbank AG, New York, NY
  • PNC Bank, Pittsburgh, PA

Academic Background:

  • Ph.D. in International Business Administration (Finance) from Texas A&M International University
  • MBA in Finance from the University of Pittsburgh
  • BA in Mathematics and German from Dickinson College


  • Procasky William, Zubair Raja and Renee Oyotode (2018), "Efficiency of Capital Markets: A New Perspective on the Value Premium and Day-of-the-Week Effects," International Journal of Portfolio Analysis and Management, 2(2), 114-140
  • Procasky, William and Nacasius Ujah (2016), “Terrorism and Its Impact on the Cost of Debt,” Journal of International Money and Finance, 60, 253-266 (also appeared in CFADigest, April 2016, Volume 46 Issue 4)
  • Procasky, William, Nacasius Ujah and Zubair Raja (2014), “FFO to Total Debt: A More Efficient Proxy of Capital Structure,” Journal of Accounting and Finance, 14(6), 71-90

Working Papers:

  • “Price Discovery in CDS and Equity Markets: Default Risk Based Heterogeneity in the Systematic High Yield Sector,” revise and resubmit at Journal of Financial Markets 
  • “The Relative Role of CDS and Bond Markets in Price Discovery of Emerging Market Sovereign Risk” (with Zubair Raja)
  • “Do Investors Trade Systematic Credit Default Risk More Efficiently than Non-Systematic?“
  • "Time Series Forecasting and Forecast Evaluation: Which Model Best Predicts CDS Prices?” (with Anwen Yin)
  • “Differences in Market Efficiency between Systematic and Sector based Financial Markets”