Brian L. Boscaljon, Ph.D.

Brian L. Boscaljon, Ph.D.
Associate Professor of Finance, Finance and MBA programs
278 Burke

Mailing Address:
ERIE PA 16563

Ph.D., Texas Tech University (1996): Research and teaching interests include investments, corporate finance, markets and institutions, international finance, and managerial finance. He developed an automated Balanced Scorecard that incorporated traditional and non-traditional financial measures for Johnson Control Interior Systems World Wide, Holland, MI.


Teaching Philosophy

One of my most important teaching objectives is to prepare students for life-long learning. Finance is a relatively new field of study that is rapidly changing along with innovations in technology, the business environment, and the global economy. After building students' understanding of the fundamental financial concepts, I provide numerous exercises, activities, and assignments to enable them to apply what they have learned. I believe applying computer applications and decision-making models is essential for the success of students in the real world.

Courses Taught

  • B ADM 530 (formerly FNC 531): Investment Theory
  • B ADM 532: Corporate Finance
  • B ADM 596F: CFA
  • B ADM 597C: Investment Theory
  • FIN 301 (formerly FNC 300): Corporation Finance
  • FIN 406 (formerly FNC 460): Investment Finance
  • FNC 480: Advanced FInancial Analysis
  • FIN 481 (formerly FIN 497A): Advanced Financial Analysis
  • FNC 494H: Research Project
  • FNC 495: Internship
  • FNC 496A: Fundamental Analysis
  • FNC 501: Financial Management
  • FNC 596: Graduate Individual Studies
  • IMBA 532: Risk Management


  • Designation for Chartered Financial Analyst obtained, September 2001
  • Calvin College Research Fellowship Award, Grand Rapids MI, 1998-99
  • Dissertation was selected for presentation in the Doctoral Seminar, Financial Management Association Conference, October 1995

Creative Accomplishments

  • U.S. Patent, June 2012.
  • Asset Allocation/Financial Planning Model. Initial stages of obtaining a business method patent, 2008.


  • Recipient, Best Paper Award, Academy of Financial Planning, annual meeting, Denver CO, October 2010.
  • Award from Penn State Research Foundation for filing a US patent on behalf of Penn State University Intellectual Property office, 2009.

Participation in Seminars and Workshops

  • Finance Faculty Series. Discussion panelist, Penn State Erie, Erie PA, 2010
  • Academy of Financial Services, annual meeting, Denver CO, October 2010:
  • Co-discussant, Insurance Issues–Insurance Issues. 
    • Executive VP, Program. 
    • Session Organizer and Chair.
  • Moderator and discussant, Investment Analysis V - Market Timing and Asset Selection, Academy of Financial Services, annual meeting, Anaheim CA, October 2009.
  • Session Chair, Society of Financial Service Professionals, annual meeting, Las Vegas NV, October 2008.
  • Session on Bloomberg/Trading Floor. Presenter, Midwest Decision Sciences Institute, annual meeting, Erie PA, April 2008.
  • Estimating the Adequacy of Retirement Savings: Theoretical and Practical Issues. Discussant, Academy of Financial Services, annual meeting, New Orleans LA, October 2004.
  • Financial Planning for Households Who Are Fully Retired Versus Those Who Are Partially Retired. Discussant, Midwest Finance Association, annual meeting, Chicago IL, March 2004.
  • Intro to Finance. Speaker, Freshman Seminar, Penn State Erie, Erie PA, Fall 2008; Fall 2002.
  • An Intra-day Examination of Technical Trading Rules in the Currency Futures Market. Discussant, Financial Management Association Conference, New York NY, October 1995.


  • Kaplan and Fiducioso, Inc., 2010
  • Schweser, 2009
  • St. Vincent Health Center, Erie PA, 2008 
  • Kaplan Inc., New York NY, 2002- 
  • Mary Lincoln, Erie PA, 2002 
  • Johnson Controls Interior Systems World Wide, Holland MI, 1998

Speaking Engagements

  • Time Utility of Wealth. Kent State University, Kent OH, January 2006 
  • Market Uncertainty. Steris Corporation, Erie PA, April 2001

New Software Program Developed

  • Applied for patent for new software program, 2009
  • Developed a Asset Allocation Model for Financial Planning. Black School of Business, Penn State Erie, Erie PA, 2008
  • Developed new model in Crystal Xcelcius. Black School of Business, Penn State Erie, Erie PA, 2008.
  • Developed trading floor hard and software. Black School of Business, Penn State Erie, Erie PA, 2006. 

Membership in Professional and Learned Societies

  • Financial Planning Association, 2010-
  • Academy of Financial Services, 2004-
  • Chartered Financial Analyst (CFA) Institute, 2010-; 2003-06
  • Southern Finance Association, 2002-06.
  • Financial Management Association, 1996-
  • Midwest Finance Association, 1996-06.





Asset Allocation, Wealth Mangagement, Retirement Planning

The mist of corporate innovation, International Review of Economics and Finance - May 2, 2024
Collaborators: Ya-Ling Chiu, Co-Author; Jinbo Luo, Corresponding Author

Government Customers, Institutional Investment Horizons, and Liquidity Risk, Review of Quantitative Finance and Accounting - January 20, 2021
Collaborators: Hongrui Feng; Jia Yuecheng; Qian Sun

Fundamentals of Managerial Finance 3rd Edition - December 10, 2019

Corporate Finance Study Guide - June 30, 2019

Fundamentals of Managerial Finance, 2nd Edition - August 5, 2017

Fundamentals of Corporate Finance 2nd Edition - June 26, 2016

Fundamentals of Managerial Finance - March 11, 2014

Defining an Individual's Critical Wealth Level, The Journal of Wealth Management - January, 2013

Do large shocks in VIX signal liability management strategies? - January 2, 2013
Collaborator: John Clark, Secondary Author

Quantifying Unique Indivual Portfolio Insurance Premiums, The Journal of Wealth Management - 2012

Test Bank for Investment Analysis and Portfoliio Mangement 10th Ed - 2012

Determining the "Glide Path" for Target-Date Funds, Financial Service Review - 2011

Looking Back on 2010 and Forward to 2011, Journal of Financial Planning - 2011
Collaborators: H Evensky; J Clark

Market Timing Using the VIX for Style Rotation, Financial Services Review - 2011
Collaborators: Michael Filbeck; Xin Zhao

Why Track Inefficiency? , The Journal of Index Investing - 2011
Collaborators: Xin Zhao; Michael Filbeck

Asset Allocation – New and Improved? , Journal of Financial Planning - 2010
Collaborators: H Evensky; J Clark

Bond Ratings and Bank Loan Announcements: The Effect on Equity Prices, Journal of Business and Economic Perspectives - 2008
Collaborators: Michael Filbeck; D Preece

Employee Rewards and the Likelihood of a Successful Initial Public Offering, Journal of Business and Economic Research - 2008
Collaborators: Michael Filbeck; P Thoms

Rebalancing Strategies for Creating Efficient Portfolios, The Journal of Investing - 2008
Collaborators: Michael Filbeck; C Ho

A Simple Portfolio Insurance Strategy for Retirement Investing, Journal of Financial Services Professionals - 2006
Collaborators: L Sun; Array Array

Critical Wealth: Where Financial Planning Becomes Wealth Management, Portfolio Organizer - 2006

Information Content of Bank Loan Announcements to Asian Corporations during Periods of Economic Uncertainty, Journal of Banking and Finance - 2006
Collaborators: C Ho; Array Array

Information Content of Business Method Patents, Financial Review - 2006
Collaborators: Michael Filbeck, Primary Author; T Smaby, Secondary Author

Equity Balancing Style Based on Time Horizons - 2005
Collaborator: L Sun

How Many Stocks Are Required for a Well-diversified Portfolio?, Advances in Financial Education - 2005
Collaborators: Michael Filbeck; C Ho

Maximizing Retirement Income and Leisure Time, Journal of Financial Planning - 2005

Regulatory Changes in the Pharmaceutical Industry, International Journal of Business - 2005

Time, Wealth, and Human Capital as Determinants of Asset Allocation, CFA Digest - May, 2005
Collaborators: Array Array; Array Array

Collaborator: S Lummer

Comparisons of Dynamic Asset Allocation Strategies for Personal Financial Planning - 2004
Collaborator: L Sun

Time, Wealth, and Human Capital as Determinants of Asset Allocation, Financial Services Review - 2004
Collaborators: Array Array; Array Array

The Explanatory Power of EVA, Journal of Accounting and Finance Research - 2000
Collaborators: T Jalbert, Primary Author; R Rao; C Bathala

EVA: The Effect on Firm Valuation - 1999
Collaborators: T Jalbert; R Rao

Ph D, Finance, Texas Tech University

MBA, Finance, Michigan State University

BA, Business/Economics, Northwestern College