Hans Reiner Stoll, former associate professor in the University of Pennsylvania’s Wharton School, died March 20 in Nashville. He was 80.

Dr. Stoll was born in Regensburg, Germany. He graduated from Swarthmore College in 1961 and then earned his MBA in 1963 and a PhD in 1966, both from the University of Chicago.

Dr. Stoll joined the faculty at Penn in 1966 as an assistant professor of finance at Wharton. In 1971, he became an associate professor. A few years later, he also took on the role of assistant director of the Wharton PhD program. While at Penn, Dr. Stoll spent a year with the Board of Governors of the Federal Reserve System (Almanac October 1968). The following year he participated in a high-priority study of securities markets for the Securities and Exchange Commission (Almanac November 1969). In 1980, he received a grant from the Center for the Study of Future Markets at Columbia University.

Dr. Stoll left Penn in 1980 to join the faculty at Vanderbilt’s Owen School. He served as the Anne Marie and Thomas B. Walker Professor of Finance, emeritus. He became best known for developing and testing the put-call parity relation for option prices, modeling and testing the behavior of securities markets dealers, his work on program trading and the “triple witching hour,” and his work on the sources and components of the bid-ask spread.

He authored, co-authored or edited several books and over 60 published articles and served on the editorial board of a variety of financial journals. As founding director of the Financial Markets Research Center at Owen, Dr. Stoll fostered research among financial markets scholars around the globe and brought together countless financial authorities from academia, business concerns and government agencies to discuss timely and critical issues. He served as resident of the Western Finance Association (1992-1993), president of the American Finance Association (1999-2000) and on various government and industry advisory panels, including the Quality of Markets Committee of the NASD formed to study the 1987 stock market crash. He was a member of the Economic Advisory Board for the NASD, a public governor of the Pacific Stock Exchange, and a public director of the Options Clearing Corporation, Interactive Brokers Group and the Futures Industry Association. He received numerous honors and awards including Vanderbilt’s 1996 Earl Sutherland Prize for Achievement in Research across all fields; the 1994 Chicago Board of Trade Earle M. Combs, Jr. Award for leadership and contributions to the futures industry; and an honorary doctorate from Goethe University in Frankfurt, Germany.

Dr. Stoll is survived by his wife, Margie; children, Erica Stoll Hammack, Andy and Kevin; six grandchildren; and siblings, Dagi Stoll Murphy and Michael.