The Fama-Miller Center was founded to promote and enhance academic research in finance at the University of Chicago Booth School of Business.

The Fama-Miller Center was founded to promote and enhance academic research in finance at the University of Chicago Booth School of Business. We build on a deep and distinguished tradition represented by the seminal contributions and intellectual and personal leadership provided by Gene Fama and Merton Miller. The center's mission is to maintain and advance this legacy.

The nature of finance research has changed dramatically over the last few decades. In part, the world we study has changed. We have seen an explosion of new markets, instruments, and financial institutions. We have seen rapid changes in the nature of and access to information. New corporate structures and funding mechanisms have emerged, and regulation has expanded and shifted. In part, the nature of the research business itself has changed. The profession is much larger and more specialized. The internet and vastly expanding data have changed how we work. And, of course, ideas have advanced.

These developments have sparked a broad and diverse set of research programs, requiring new levels of support and collaboration. In this evolving world of finance research, the model of individual faculty acting alone, even if well funded, is no longer adequate. The institutional structure and resources provided by a center will be crucial to achieving our goals. These are public goods that individual faculty cannot provide.

Nobel laureate Eugene F. Fama is the Robert R. McCormick Distinguished Service Professor of Finance.
Winner of the 2013 Nobel Prize in economics, Eugene F. Fama transformed the way finance is viewed and conducted. He is widely recognized as the "father of modern empirical finance."
Merton Miller, Nobel laureate
Merton Miller shared the 1990 Nobel Prize in economics with two other US economists. Miller was recognized for "his fundamental contributions to the theory of corporate finance."

Research Highlights

Douglas W. Diamond Awarded Nobel Prize in Economic Sciences

Douglas Diamond, the Merton H. Miller Distinguished Service Professor of Finance at Chicago Booth, has been awarded the 2022 Nobel Prize in Economic Sciences. A visionary scholar, he is recognized for his pioneering research on banks and financial crises. Read the Nobel coverage about Professor Diamond here.

Accepting Applications for Research Professional Program

The Fama-Miller Center is now accepting applications for the Research Professional Summer 2023 program. To learn more about the program or to apply, visit the research professional page.

FMC Welcomes New Cohort of Research Professionals

This summer five new research professionals joined the center: Jiaofen (Vanessa) Hu, Simone Ricci, Yash Srivastav, Xixian (Steven) Wu, and Zi Ye. Visit the research professional page to learn more about them and the program.