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CORVALLIS - A retired Oregon State University educator will receive an honorary doctorate from Lund University in Sweden.

Arthur Stonehill, professor emeritus of business administration, will be honored with a doctorate in economics during graduation ceremonies at Lund University on May 29, said Lars-Goran Stenelo, a Lund professor of political science.

Stonehill, who retired from OSU in 1990, is an analyst of Nordic equity markets. He received an International Finance and Management Association award for best business book in 1997 in recognition of "Internationalizing the Cost of Capital." The work, written in collaboration with three other analysts, is considered a benchmark research book on Nordic equity issues abroad.

Lund, founded in 1668, is the second oldest university in Sweden. Stonehill has earned two other honorary doctorates related to his work in international business and finance. The Aarhus School of Business in Denmark honored Stonehill during the school's 50th anniversary in 1989, and the Copenhagen School of Business honored Stonehill during its 75th anniversary in 1992.

Stonehill was instrumental in helping establish an international student exchange program between the OSU College of Business and the Aarhus School of Business in Aarhus, Denmark about 12 years ago. Since 1987, OSU has sent about 20 seniors per year to Aarhus and received about the same number of graduate students from Aarhus. More than 400 Danish and American students have participated in the program.