| Academic Positions Held |
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Kellogg School of Management, Northwestern University.
Erwin P. Nemmers Professor of Finance, 1993-present.
Finance Department Chair, 1991-1994.
Associate Professor 1987-1991.
Assistant Professor 1984-1987.
Graduate School of Business, University of Chicago.
Visiting Associate Professor, 1989-1990.
School of Management, Boston University.
Assistant Professor, 1981-1984. |
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| Courses / Topics Taught |
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Futures and Options, Derivative Securities, Taxes and Decision-Making, Corporate Finance. |
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| Career and Recent Professional Awards; Teaching Awards |
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Graham and Dodd Scroll (distinguished paper in Financial Analyst's Journal), Financial Analyst's Federation, 1985.
Iddo Sarnat Award for best paper, Journal of Banking and Finance, 1987.
Smith-Breeden prize for one of best papers, Journal of Finance, 1990.
Prize for best paper, Review of Financial Studies, 1991. |
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| Professional Leadership |
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Associate Editor: Journal of Financial and Quantitative Analysis, 1992-present.
Associate Editor: Management Science, 1992-present.
Associate Editor: Review of Quantitative Finance and Accounting, 1994-present.
Referee for numerous academic journals. |
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| Research Areas |
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Corporate Finance, Derivatives |
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| Current Projects |
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Understanding capital structure, institutional structure of securities markets. |
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| Representative Publications |
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"The Value of Waiting to Invest," (with Daniel Siegel), Quarterly Journal of Economics 101, 4 (November 1986): 707-727.
Equity Issues and Stock Price Dynamics," (with Deborah Lucas), Journal of Finance 45, 4 (1990): 1019-1043. Winner of 1990 Smith-Breeden Prize.
"The Effect of Information Releases on the Pricing and Timing of Equity Issues," (with Robert Korajczyk and Deborah Lucas), Review of Financial Studies 4, 4 (1991): 685-708.
"Brokerage, Market Fragmentation, and Security Market Regulation," (with Kathleen Hagerty) in Industrial Organization and Regulation of the Security Industry, edited by Andrew Lo. Chicago: University of Chicago Press, 1995. |
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| General / Consulting |
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Board of Directors, Valuemetrics Inc., 1985-present.
Chicago Board Options Exchange, 1985-present.
Enron Corp, derivatives training, 1993-1995.
Federal Reserve Bank of Boston, August 1978 - August 1979. | |
