Lehigh Valley finance student presented at national research conference

CENTER VALLEY, Pa. — For second-year finance major, Anthony Abdel Ahad, having his research accepted by the National Conference for Undergraduate Research (NCUR) was a “big deal”.

The annual undergraduate conference attracts students from across the country and includes a selective proposal review process.

“It was one thing to do research at my home campus; it was another to stand in front of people from all over and talk through it,” Ahad said, noting the event showcases student work from more than 500 colleges and universities. “I wanted to see how my work would be held in that kind of environment.”

Ahad’s research, titled "Forecasting Stock Prices in an Age of AI — An Empirical Analysis," compared stock price models in terms of forecasting performance and accuracy.

“I examined whether AI-generated models could outperform traditional statistical models when forecasting JPMorgan Chase stock prices,” said Ahad. “Everyone in finance is talking about AI right now, so I wanted to dig into that.”

To conduct his research, Ahad analyzed four economic indicators: the Nasdaq Composite Index, unemployment rate, the 10-year to 2-year treasury spread, and the industrial production index. He used these various methods to develop both a traditional financial model and an AI-generated model. After comparing performance, Ahad found that the traditional model outperformed the AI model in accuracy, demonstrating a lower standard of error.

“This does not suggest that AI does not belong in finance,” Ahad said. “Rather, it highlights that proven methods are still effective.”

The strong engagement from conference attendees with Ahad’s research came as an unexpected highlight, he said, leaving a lasting impression on his overall conference experience.

“People stopped, asked questions and wanted to discuss my findings,” he said. “What stood out most was their curiosity about where I would take the research next.”

Ahad credits Subhadra Ganguli, assistant professor of business at Penn State Lehigh Valley, as a key influence throughout his research process.

“She pushed me to think more carefully about my methodology and encouraged me to stray from shortcuts when it came to econometrics,” he said. “I came into this project with a general idea, and her guidance helped me turn it into something I could defend at a national conference.”

The critical thinking required throughout the research process further solidified Ahad’s interest in pursuing a career in private equity (PE), he explained.

“This research reinforced me how much I enjoy the analytical side of finance, and that kind of thinking is exactly what PE requires,” he said.

For students interested in undergraduate research, Ahad emphasized the importance of knowing professors, pursuing ideas and connecting research to real-world applications.

“Your professors know about opportunities you’d never find on your own,” he said. “Don’t wait until you have the perfect idea — just start, and the topic will become clearer when you’re in it.”

Ahad also noted that motivation and engagement live within topics that are relevant to the real world.

“When your work answers a question that matters outside the classroom, it’s a lot more interesting for everyone who hears about it,” he said.

About Penn State Lehigh Valley

Penn State Lehigh Valley was established in 1912 and combines over a century of academic excellence with personalized instruction and industry-connected faculty. Students can choose from 11 baccalaureate degrees or begin any of Penn State’s 275+ majors through the 2+2 program. With small class sizes and advanced learning technology, our modern campus prepares students for success in the Lehigh Valley and beyond. For more information, visit the Lehigh Valley website.