Professor contributes research on natural gas

Christina Meyer – Staff Writer

The oil and natural gas market is an important aspect to Pennsylvania’s economy. Recent changes have been further attracting the industry into the state.

With an abundant range of factors and information affecting it, this market provides plenty of areas to research the innerworkings of the stock exchange and its behavior, as well as the industry itself. Clarion University provides a unique, local insight on the topic, allowing one professor to conduct numerous research endeavors on the subject.

Dr. Matthew Brigida is a professor of finance in Clarion University’s College of Business and Information Systems (COBAIS). During his eight year career, he has extensively examined the oil and gas markets and published numerous papers on various topics relating to them. His research areas include capital budgeting (for the energy market particularly), electricity derivative pricing, informed trading, market microstructure and time series analysis.

His most renowned research, titled “The Switching Relationship between Natural Gas and Crude Oil Prices” was published in Energy Economics in 2014. It refutes two economists about the lack of relationship between crude oil and natural gas prices and asserts the relationship between natural gas has continued, only on a different medium. This paper won awards and has been numerously cited in other research. His other publications include “Volatility in Electricity Spread Options” in the Pennsylvania Economic Review, and a follow up to his prior paper “The Determinants of Regime – Switching in the Natural Gas Crude Oil Cointegrating Relationship” in the Journal of Energy Markets, as well as other working papers on the volatility in oil futures and their components and high-frequency trading affecting market efficiency.

He has presented his research at various conferences, such as for the United States Association for Energy Economics (USAEE) and the Financial Management Association International (FMA).

Aside from his research contributions on the oil and gas market, Dr. Brigida has published research on other topics and provided teaching innovations to COBAIS. His most recently published work is “Fake News,” which he collaborated with former fellow finance professor William Pratt in the North American Journal of Economics and Finance. It discusses the effects of false information on stock prices and how quickly high frequency traders correct prices.

While working with his fellow professors, Dr. Brigida used his background in finance to develop the curriculum for Clarion University’s MBA in finance and MBA in data analytics.

COBAIS’s grants and support for his research helped with Dr. Brigida’s successes in research and he appreciates the opportunities. Dr. Brigida says, “In finance, you cannot teach without research because the markets are constantly changing. In this way, professors’ research benefits the students. . . I’m thankful to Clarion University for the support in my research and for the grants provided.” Research like Dr. Brigida’s also helps COBAIS maintain its accreditation as an organization.

After this semester, Dr. Brigida will begin a new career at the Suny Polytechnic Institute in New York to continue his research.

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