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Spectral lag, the time difference between the arrival of high-energy andlow-energy photons, is a common feature in Gamma-ray Bursts (GRBs). Norris etal. 2000 reported a correlation between the spectral lag and the isotropic peakluminosity of GRBs based on a limited sample. More recently, a number ofauthors have provided further support for this correlation using arbitraryenergy bands of various instruments. In this paper we report on a systematicextraction of spectral lags based on the largest Swift sample to date of 31GRBs with measured redshifts. We extracted the spectral lags for allcombinations of the standard Swift hard x-ray energy bands: 15-25 keV, 25-50keV, 50-100 keV and 100-200 keV and plotted the time dilation corrected lag asa function of isotropic peak luminosity. The mean value of the correlationcoefficient for various channel combinations is -0.68 with a chance probabilityof ~ 0.7 x 10^{-3}. In addition, the mean value of the power-law index is 1.4+/- 0.3. Hence, our study lends support for the existence of a lag-luminositycorrelation, albeit with large scatter.

Spectral Lags and the Lag-Luminosity Relation: An Investigation with Swift BAT Gamma-ray Bursts