Educational Background

Degrees granted/granting universities:

• Ph.D., Indiana University, 1984, Bloomington, Indiana
  
• MA, Northwestern University, 1975, Chicago, Illinois
  
• BA, Indiana University, 1973, Bloomington, Indiana

Current research and teaching interest:

Derivative Assets, Market MicroStructure, Pricing & Efficiency

 

Teaching Profession

Years at Binghamton University:

1988 - Present

Courses regularly taught:

Finance, Investments, Derivatives

 

Most Significant Publications

• Trading Around Macroeconomic Announcements: Are all Traders Created Equal" (with G. Erunberg and A. Kurov), Journal of Financial Intermediation, October 2006.


• Price Dynamics in the regular and E-mini Futures Markets", with A. Kurov, Journal of Financial and Quantitative Analysis, June 2004.


• "The Effect of the Introduction of Cubes on the NASDAQ-100 Index Spot-Futures Pricing Relationship", with A. Kurov, The Journal of Futures Markets, Feb 2002.


• "Term Premia Estimates from Zero-Coupon Bonds: New Evidence on the Expectations Hypothesis", with U. Dhillon, Journal of Fixed Income, Summer, 1998.


• "An Empirical Analysis of Double Action vs. Walraisan Pricing: The Case of Volatility in US vs. Japanese Futures Markets", with U. Dhillon and T. Watanabe, Journal of Banking and Finance, Vol. 21, July 1997, pp. 1045-1061.


• "Good News, Bad News, Volume, and the Monday Effect" (with R.P. Fishe and T. Gosnell), Journal of Business, Finance & Accounting, 1993, November.


• "Effect of Contemporaneous Reserve Accounting on the Fed Funds Market", Journal of Banking and Finance, 1992, December, 1047 - 1056.


• "Dividend Reinvestment Plans: An Empirical Analysis" (with U. Dhillon, G.Ramirez), Review of Quantitative Finance and Accounting, 1992, Vol. 2, 205 - 213.


• "Important Problems in Corporate Finance: A Practitioners Perspective" (with G. Ramirez, D. Waldman), Financial Management, 1991, Vol. 20 No. 2, Summer.


• "New Issue Yield Spreads in the 30-Year Treasury Bond Market" (with W. B. Barrett), Financial Review, 1991, Vol. 26 No. 2, May.


• "Marginal Tax Brackets, Tax Timing Options and the Pricing of Government Bonds" (with A. Heuson), Journal of Financial Research, 1990, Vol. 13 No. 2, Summer.


• "Tax Timing Options on Futures Contracts and the 1981 Economic Recovery Tax Act" (with R. Chiang), Financial Review, 1989, Vol. 24 No. 1, February.


• The Ability of Financial Analysts to Interpret Management Earnings Forecasts" (with R. Jennings, J. Hassel), Journal of Financial Research, 1988, Vol. 11 No. 4, Winter, 303 - 319.

Selected Recognitions

• Outstanding Market Microstructure paper at the 2002 Financial Management Association Meeting.

• Outstanding Futures and Options Market Paper at the 1991 Financial Management Association Meeting.

• Outstanding Professor of the Year, School of Management 1989 - 1990

• Outstanding Investments Paper at 1985 Financial Management Association Meeting