Office Address
Academic Positions Held
Education
Publications
Professional Activities
Office Address
702G Hoffman Hall
Marshall School of Business
University of Southern California
Los Angeles, CA 90089-1427
(213)740-6499
Fax (213)740-6650
Date of Birth January 31, 1948
Marital Status Married, 2 children
| 1995 | Associate Professor of Business Finance and Law School | Law School University of Southern California |
| 1982 | Associate Professor of Finance and Business Economics | Marshall School of Business University of Southern
California [With tenure since 1985] |
| 1988-89 | Visiting Associate Professor of Finance | Anderson Graduate School of Management, University of California, Los Angeles |
| Summer, 1988 | Leslie Wong Distinguished Visiting Scholar | Faculty of Commerce University of British Columbia |
| 1975-1982 | Assistant Professor of Finance and Operations Analysis | School of Management State University of New York at Buffalo |
| 1981-1982 | Visiting Associate Professor of Finance | Stern School of Business New York University |
| 1980-1981 | Visiting Assistant Professor of Finance | Graduate School of Business, Columbia University |
| The University of Chicago | S.B. | 1969 | Statistics | The College |
| Carnegie-Mellon University | M.S.I.A. | 1971 | Economics | Graduate School of Industrial Administration |
| The University of Chicago | M.B.A. | 1974 | Business Economics and Finance | Graduate School of Business |
| The University of Chicago | Ph.D. | 1977 | Business Economics and Finance | Graduate School of Business |
Dissertation: An Examination of the Behavior of Corporate Bond Prices
Advisor: Myron Scholes
The Effect of a Rating Change Announcement on Bond Price, Journal of Financial Economics 5 (1977) [reprinted in M. Jensen and C. Smith, ed., The Modern Theory of Corporate Finance, (New York, McGraw-Hill, 1984)]
The Seasoning Process of New Corporate Bonds, Journal of Finance 33, (1978). [Abstracted in C.F.A. Digest (Summer, 1979)]
The Systematic Risk of Corporate Bonds, Journal of Financial and Quantitative Analysis 16 (1981).
The Behavior of the Common Stock of Bankrupt Firms, Journal of Finance 38, (1983) [with T. Clark].
The Bilinear Paradigm: A New Approach to Testing Asset Pricing Models, Journal of Finance 38 (1983) [with S. Brown].
Bond Systematic Risk and the Option Pricing Model, Journal of Finance 38 (1983).
Estimation of Implicit Bankruptcy Costs, Journal of Finance 39 (1984) [with R. Kalaba, T. Langetieg and N. Rasakhoo].
The Equity Component of Corporate Bonds, Journal of Portfolio Management 11, (1985).
The Use of Derived Factors in Event Studies, Journal of Financial Economics 14, (1985) [with S. Brown].
Some Evidence on Bank Holding Company Regulation: The Question of Expansion into the Insurance Business, Bank Structure and Competition: Conference Proceedings 1985 (Chicago; Federal Reserve Bank of Chicago) [with T. Campbell and J. Dietrich].
Conglomerate Mergers, Managerial Motives and Stockholder Wealth, Journal of Banking and Finance 10, (1986) [with Y. Amihud and P. Dodd].
A Curmudgeon's View of Junk Bonds, Journal of Portfolio Management 13, (1987).
The Estimation of Models Arising in the Pricing of Differential Contingent Claims, Advances in Futures and Options Research 2 (1987) [with R. Kalaba, T. Langetieg and N. Zubi].
Bid-Ask Spread, and Market Structure, Financial Analysts Journal 1993 [with Y-S Chan].
An Empirical Investigation of IPO Underpricing and Subsequent Equity Offerings, Journal of Financial Economics 34 (1993) [with N. Jagadeesh and I. Welch].
Profit Sharing Contracts in Hollywood: Evolution and Analysis, Journal of Legal Studies (27, 1988)
The Appraisal Remedy and Merger Premia, American Law and Economics Review (1, 1999)
Financial Management, chapter in Management for Physicians, ed. by Wingate, Bunker, Markello and Shimpfhauser (Garden City, Medical Examination Publishing Co.), 1983.
Testimony before The Subcommittee on Access to Equity Capital and Business Opportunity, Committee for Small Business, U.S. House of Representatives (September 12, 1979)
Testimony before The Committee on Banking Finance and Urban Affairs, U.S. House of Representatives (January, 1989)
The Investment Practices of Lincoln Savings and Loan, [with Alan Shapiro]. Report prepared for the Office of the Director of Examinations, Eleventh District, Federal Home Loan Bank Board, November, 1986. Reprinted in Investigation of Lincoln Savings & L oan Association, Hearing before the Committee on Banking, Finance and Urban Affairs, U.S. House of Representatives, Part 4, November 14, 1989.
Review of Managing Financial Risk by Smith, Smithson and Sykes, Journal of Finance 46 (1991).
"The Accessibility of International Financial Markets", in Agmon and Drobnick, ed. Small Firms in Global Competition (New York, Oxford University Press), 1994
"The Empirical Evidence on Zombie Airlines" in The Impact of Bankruptcy on Free Market Comeptition, American Bankruptcy Institute National Symposia Series, American Bankruptcy Instititue, 1996.
Work in Progress:
When Limited Liability Came to California
An Investigation of Corporate Debt Rearrangements: The Case of Corporate Debt
Redemptions
Michael Mazzeo
State University of New York at Buffalo, 1983
Target Firm Behavior in Corporate Mergers
Bart Broadman
University of Southern California, 1988
Pre-Offering Earnings and the Long-Run Performance of IPOs
Jong-Hwan Yi
University of Southern California, 1997
American Finance Association:
Papers Presented 1978, 1982, 1983, 1987
Discussant 1984
Session Chair 1987, 2000
American Law and Economics Association:
Paper Presented 1999, 2000
Financial Management Association:
Paper Presented 1983
Discussant 1976
Doctoral Consortium Faculty 1985
1999 Journal of Financial Intermediaton Conference
Paper Presented
Western Finance Association:
Paper Presented 1986
Discussant 1979, 1983-1985, 1987-1989, 1992
Session Chair 1984-1987, 1989-1995, 1999-
Program Committee 1985-1997
Berkeley Program in Finance:
Presenter 1986, 1988
Association of Managerial Economists:
Discussant 1990
Arizona State University, Baruch College, Bell Laboratories, Carnegie-Mellon University, Claremont Graduate School, Columbia University, Cornell University, Haifa University, Hebrew University, INSEAD, London Business School, Memphis State University, New York University, Northwest ern University, Ohio State University, Pennsylvania State University, Purdue University, Rutgers University, Southern Methodist University, Norwegian School of Economics, Stockholm School of Economics, State University of New York at Buffalo, University o f British Columbia, University of California (Berkeley), University of California (Los Angeles), University of Florida, University of Göteborg, University of Iowa, University of Michigan, University of Oklahoma, University of Pennsylvania, University of R ochester, University of Southern California, University of Toronto, University of Washington, University of Wisconsin, Yale University
Energy Journal, Financial Analysts Journal, Financial Management, Financial Review, Journal of the American Statistical Association, Journal of Banking and Finance, Journal of Business, Journal of Business and Economic Statistics, Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Financial Economics, Journal of Financial Intermediation, Journal of Financial Research, Journal of Money, Credit and Banking, Journal of Portfolio Management, The Review of Financial Studies, Review of Quantitative Finance and Accounting, National Science Foundation
Book Review Editor, Journal of Finance 1985-1988
Advisory Board, Journal of Portfolio Management 1985-1988
Associate Editor, Financial Review 1989-1991
American Finance Association, Nominating Committee, 1987
Society For Financial Studies, Secretary/Treasurer, 1986-
Western Finance Association
American Economics Association
American Law and Economics Association
U.S.C. Conference The Methodology of Event Studies, 1983
U.S.C. Conference Empirical Research on the Arbitrage Pricing Model, 1985
U.S.C./U.C.L.A. Conference The Crash, Causes and Cures, 1988
N.Y.S.E./U.S.C./U.C.L.A. Conference Market Micro-Structure, 1990
Elected Non-Tenured Faculty Representative, Policy Committee, School of Management, State University of New York at Buffalo, 1977-1979
Awards Committee, School of Business, University of Southern California, 1983-1985, 1991-1993.
Doctoral Program Committee, Marshall School of Business, University of Southern California, 1985-1992, 1999-
Coördinator of Doctoral Program in Finance, Marshall School of Business, University of Southern California, 1985-1992, 1999-
Task force on General Education, University of Southern California, 1993/4.
Subcommittee on Linkages Between Professional and Liberal Arts Programs, University of Southern California, 1993/4
Academic Senate, University of Southern California, 1997-