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Portrait image for Walter Torous

Walter Torous

Professor Emeritus, Finance
(310) 825-2508
Areas of Expertise:
  • Bankruptcy
  • Future Markets
  • Mortgages
  • Options Pricing
  • Real Estate
  • Securities


Walter Torous is founding director of the Ziman Center for Real Estate and Professor of Finance at UCLA Anderson.  He teaches managerial finance, real estate finance, and empirical methods in finance. Dr. Torous' research interests include the pricing of financial instruments (options, future, risky debt, mortgages), the reorganization of financially distressed firms, as well as statistical issues in finance. 

Dr. Torous previously taught at the University of Michigan and the London Business School. His consulting clients include the U.S. Department of Housing and Urban Development, the Federal Home Loan Mortgage Corporation, and various thrifts, banks and other financial institutions.



Ph.D. Economics, 1981, University of Pennsylvania

B.Math. Economics, 1976, University of Waterloo


Selected Published Papers

Clifford A. Ball, and Walter N. Torous. (December, 1999). The Stochastic Volatility of Short-Term Interest Rates: Some International Evidence. The Journal of Finance54, 6, pp. 2339-2359.

Michael J. Brennan, and Walter N. Torous. (July, 1999). Individual Decision Making and Investor Welfare. Economic Notes28, 2, pp. 119-143.