The American Finance Association (AFA) is the premier academic organization devoted to the study and promotion of knowledge about financial economics. The purpose of the Association is "to provide for the mutual association of persons with an interest in finance to improve public understanding of financial problems, and to provide for the exchange of financial ideas through the distribution of a periodical and other media; to encourage the study of finance in colleges and universities; to conduct such other activities as may be appropriate for a non-profit, professional society in the field of finance."

The AFA was planned at a meeting in December 1939 in Philadelphia. The Journal of Finance was first published in August 1946 when dues were $3 a year. Association membership has grown steadily over time. Today the AFA has over 8,000 members and dues are $80 a year. The AFA sponsors an annual meeting each January where the President speaks on a chosen topic and papers that cover the gamut of financial topics are presented. The current President of the Association is Hans Stoll of Vanderbilt University. David Pyle of the University of California, Berkeley serves as Executive Secretary and Treasurer. The Association has a board that rotates over time and assists in key decisions. Membership in the Association is on a calendar year basis and is available only through written application.