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Biography
Education
Ph.D., University of Illinois, 1972; M.A., University of Illinois, 1967; B.S., Millikin University, 1965.
Research Areas
Corporate governance, dividends and their impact on the marginal investor, CEO turnover and layoffs.
Current Projects
"Layoffs, CEO Turnover, and Shareholder Wealth," with Saeyoung Chang
"A look at high dividend yield stocks, changes in dividend taxation and the marginal investor," with Vaughn Armstrong
"Convertible Debt Issuance and Debt Values"
Academic Positions
Arizona State University: 1983-present. Previous Appointments: University of Wyoming, University of Colorado, University of Missouri-St. Louis.
Career and Recent Professional Awards; Teaching Awards
State Farm Undergraduate Teaching Award, 2003; Department of Finance, Furst Curriculum Grant, 1999 and 2002; Nominated for John W. Teets Outstanding Teaching Award, 2001.
Professional Leadership and Service
Textbook Review: Corporate Finance, 1st edition, Berk And DeMarzo, 2005; A First Course in Finance, 1st Edition, Ivo Welch, 2005; Modern Corporate Finance, 2nd Edition, Chambers and Lacey, 1999.
Representative Publications
"The Micromechanics of the Federal Funds Market: Implications for Day-of-the-Week Effects in Funds Rate Variability," with Paul Spindt, Journal of Financial and Quantitative Analysis, December 1988
"The Case for Indexing a Bond's Call Price," with Douglas Emery and Ronald Spahr, Financial Management, Autumn 1987
"ADRs: A Substitute for the Real Thing," with Dennis Officer, Journal of Portfolio Management, Winter 1987. Also reprinted in the Handbook for International Investors, Probus Publishing Company, 1987
ASU is a tier 1 research university and W. P. Carey is proud of its strong tradition of teaching and classroom excellence. Our students directly benefit from the research and theories our faculty brings into the classroom. Below is a list of courses being taught during the current semester by this faculty member. Click a course to view it in the ASU course catalog.
FIN 361 - Advanced Managerial Finance
Builds on FIN 302. Advanced material on capital budgeting, cost of capital, CAPM, asset valuation, capital structure, and financial policy.
