Anna-Leigh  Stone
Associate Professor of Finance, Hackney Family Research Fellow
Brock School of Business
Department of Economics Finance and Quantitative Analysis
301 C Cooney Hall

Anna-Leigh Stone, Ph.D., is an associate professor of finance and the Hackney Family Research Fellow in Samford University's Brock School of Business. She teaches Financial Management (FINC 321), Intermediary Financial Management (FINC 429) and Financial Institutions (FINC 428). She is also the adviser of the Samford chapter of the Financial Management Association (FMA) and co-adviser of Finance and Economics Women (FEW).

Stone’s research interests include banking, specifically banking regulations and deposit insurance, as well as the liquidity policies of firms. Her research has been published in the Journal of Banking & Finance, Financial Review, Finance Research Letters, The Quarterly Journal of Finance, Journal of Financial Research, and the Journal of Macroeconomics. She has presented her work at the annual meetings of regional and national organizations, including the Financial Management Association, the Southern Finance Association, the Midwest Finance Association, and the Eastern Finance Association. Her research has also been featured in Vox and Bloomberg. She received the 2020 Brock School of Business Outstanding Research Award.

Stone holds a Ph.D. in finance from the University of Alabama where she also earned a Master of Science in finance, Master of Arts in economics, and Bachelor of Science in quantitative finance. Stone is a member of the honor fraternity Beta Gamma Sigma.

Stone lives in Hoover with her husband, Billy, who is an associate professor of economics at Jacksonville State University, their children, Liam and Lillian, and their cat, Toulouse. In her free time, she enjoys pilates, running, all things Disney, and traveling to New England to escape the heat.

Degrees and Certifications

  • University of Alabama, Ph.D. in Finance
  • University of Alabama, M.A. in Economics
  • University of Alabama, M.S. in Finance
  • University of Alabama, B.B.A. in Quantitative Finance

Research Interests

  • Corporate Finance, Corporate Cash Holdings, Banking, Regulations, Financial Crises


  • “Faith-Based Credit Union and Credit Risk,” Finance Research Letters 54, 2023.
  • “The Impact of Uncertainty Shocks on State-Level Employment Growth,” with Jack Cheng and William B. Hankins, Journal of Macroeconomics 73, 2022.
  • “Dodd-Frank and Unlimited Deposit Insurance,” Finance Research Letters 47, 2022.
  • "Double the Insurance, Double the Funds?," Journal of Banking & Finance 133, December 2021
  • “Corporate Decision-Making in the Presence of Political Uncertainty: The Case of Corporate Cash Holdings,” with Jack Cheng, Ching-Wai Chiu, and William B. Hankins, Financial Review 55, May 2020, 307-337. 
    • Top Cited Article for 2020-2021
  • “Unlimited FDIC Insurance and the Implications for Corporate Cash,” The Quarterly Journal of Finance 10, March 2020
  • “Corporate Liquidity and NBER Recession Announcements,” with Benton Gup, Journal of Financial Research 42, Fall 2019, 637-669. 
  • “Partisan Conflict, Policy Uncertainty and Aggregate Corporate Cash Holdings,” with Jack Cheng, Ching-Wai Chiu, and William B. Hankins, Journal of Macroeconomics 58, December 2018, 78-90.
  • “New Insights about the Relationship between Corporate Cash Holdings and Interest Rates,” with Benton Gup and Junsoo Lee, Journal of Economics and Finance 42, January 2018, 33-65.