PERSONAL: Age 55, Married, Eight Children, Five Grandchildren

EDUCATION:
Ph. D. University of Utah, 1982
M.B.A. University of Utah, 1979
B.A. Brigham Young University, 1973
 

EXPERIENCE:
09/97 - Present Joel C. Peterson, Professor of Finance
09/96 - 06/02: Chair, Department of Business Management, BYU
09/92 - 09/96: Professor, BYU
08/88 - 08/92: Associate Professor, BYU
08/82 - 08/88: Assistant Professor, The University of Iowa
07/81 - 06/82: Teaching Fellow/Adjunct Lecturer, The University of Utah
06/79 - 12/80: Rate Case Assistant, Utah Power and Light
11/74 - 09/78: Missile Launch Officer, USAF
 

HONORS AND AWARDS:

Marriott School Outstanding Researcher Award, 2003
Who’s Who in Finance and Industry, 1999
Joel C. Peterson, Professorship, 09/97 - Present
Marriott School Outstanding Faculty Award, 1995
Marriner S. Eccles Fellow, University of Utah, 1980, 1981
Member Beta Gamma Sigma
Member Phi Kappa Phi
 

PUBLICATIONS IN REFEREED JOURNALS:
"Inflation and Rates of Return on Long-term Bonds," (with Eric C. Chang), Economic Letters, 20 (1986), 125-127.

"The Impact of Preferred-for-Common Exchange Offers on Firm Value," (with Ronald C. Lease), Journal of Finance, 41 (September 1986), 795-814.

"Return Seasonalities and Tax-loss Selling in the Market for Long-term Government and Corporate Bonds," (with Eric C. Chang), Journal of Financial Economics, 17 (December 1986), 391-415.

"Risk and Inflation," (with Eric C. Chang), Journal of Financial and Quantitative Analysis, 22 (March 1987), 89-99.

"A Fundamental Study of the Seasonal Risk-Return Relationship: A Note," (with Eric C. Chang), Journal of Finance, 43 (September 1988), 1035-1039.

"Does the Market Reward Risk in Non-January Months?" (with Eric C. Chang), Journal of Portfolio Management, (Fall 1988), 55-57.

"The Effects of Issuing Preferred Stock on Common and Preferred Stockholder Wealth," (with Scott C. Linn) Journal of Financial Economics, 22 (December 1988), 155-184.

"Seasonal Fluctuations in Industrial Production and Stock Market Seasonals," (with Eric C. Chang), Journal of Financial and Quantitative Analysis, (March 1989), 59-74.

"What Managers Think About Capital Structure Theory: A Survey," (with Lisa Wilbricht), Financial Management, (Winter 1989), 82-91.

"Another Look at Risk and Reward in January and Non-January Months: Response," (with Eric C. Chang), Journal of Portfolio Management, (Summer 1990), 82-83.

"Stock Market Seasonals and Prespecified Multifactor Pricing Relations," (with Eric C. Chang), Journal of Financial and Quantitative Analysis, (December 1990), 517-533.

"Risk Shifting in International Licensing Agreements: A Note," (with R. Ravichandran), Journal of International Financial Management and Accounting, (Summer/Autumn 1990), 181-195.

"The Predictive Power of January Returns in Foreign and Domestic Markets," (with Eric C. Chang), Economic Letters 35, (1991), 221-226.

"The Price Effects of Secondary Offerings of Senior Securities and Warrants," (With Scott C. Linn), Journal of Banking and Finance, 15, (1991), 683-698.

"The Effect of International Licensing Agreements on Domestic Shareholder Wealth," (with R. Ravichandran), Journal of High Technology Management Research, 2 (1991), 255-271.

"Tests of the Nominal Contracting Hypothesis Using Stocks and Bonds of the Same Firms," (With Eric C. Chang and Grant R. McQueen), Journal of Banking and Finance, 16 (1992), 477-496.

"International Evidence on the Robustness of Day-of-the-Week Effects," (with R. Ravichandran and Eric C. Chang), Journal of Financial and Quantitative Analysis, 28 (1993), 497-513.

"Predictability and Regional Integration of Pacific Basin Equity Markets," (with Eric C. Chang and R. Ravichandran), Journal of International Financial Management and Accounting, 5 (1994), 25-46. 

"European Day-of-the-Week Effects, Beta Asymmetries, and International Herding" (with Eric C. Chang and R. Ravichandran), European Financial Management 1 (1995), 173-200.

"Joint Venture Synergy and Information Effects: An Empirical Investigation," (with R. Ravichandran), Advances in Financial Economics 1, 59-80, eds. M. Hirschey and M. Wayne Marr, JAI Press, 1995.

"Delayed Reaction to Good News and the Cross-autocorrelation of Portfolio Returns," (with Grant McQueen and Steven Thorley), Journal of Finance , 51 (1996), 889-919.

"The Wealth Effects of Non-Equity Alliances: The Japanese Licensing Experience" (with John C. Beck and Alan B. Larsen), Pacific-Basin Finance Journal 4 (1996), 393-408.

"Interday Variations in Volume, Variance and Participation of Large Speculators," (with Eric C. Chang and Barry Schachter) Journal of Banking and Finance, 21 (1997), 797-810.

"The Wealth Effects of Domestic Interfirm Licensing Agreements" (with R. Ravichandran), Advances in Financial Economics 3, eds. M. Hirschey and M. Wayne Marr, JAI Press, 1997.

"US Day-of-the-Week Effects and Asymmetric Responses to Macroeconomic News" (with Eric C. Chang and R. Ravichandran), Journal of Banking and Finance, 22 (1998), 513-534.

“Does Futures Trading Increase Stock Market Volatility? The Case of the Nikkei Stock Index Futures Markets,” Journal of Banking and Finance (with Eric C. Chang and Joseph W. Cheng), 23 (1999), 727-753.

"Cross-autocorrelation in Asian Stock Markets," Pacific Basin Finance Journal (with Eric C. Chang and Grant McQueen), 7 (1999), 471-493.

"Global and Local Information Asymmetries, Illiquidity, and SEC Rule 144A/Regulation S: the Case of Indian GDRs," (with R. Ravichandran), Journal of Banking and Finance, 26 (2002), 1645-1673.

"Sleeping at the Market: Comment" American Economic Review, 92 (2002), 1251-1256.

"US Investors’ Perceptions of Corporate Control In Mexico: Evidence from Sibling ADRs," Journal of Financial and Quantitative Analysis (with R. Ravichandran), 38 (2003), 213-230.

INVITED PAPERS:
"Technology Transfer: A Capital Market Perspective of Risk Shifting through Licensing," (with R. Ravichandran) in Lawless, Michael W. and Louis Gomez-Mejia (eds.), Strategic Alliances in High Technology 5 (1995), JAI Press, Greenwich, Connecticut.
 

SUBMITTED PAPERS:

"Grupo Mexicano de Desarrollo's American Depositary Receipts," (with Steven S. Crawford and R. Ravichandran), Journal of Financial Education, 1st Submission.

"Time-Varying Conditional Volume and Asset Pricing Relations," (with Joseph W. Cheng and Eric C. Chang), Journal of Empirical Finance, 1st Submission.

"The Daylight Savings Anomaly: Concessions, Concerns, and New Evidence," American Economic Review, 1st Submission.

WORK IN PROGRESS:

"Grupo Mexicano de Desarrollo (Part 2): The Impact of the Mexican Peso Crisis on the Mexican Construction Industry," (with Steven S. Crawford and R. Ravichandran).

"Insider Trading in Hong Kong: Concentrated Ownership versus the Legal Environment," (with Zhu Jun and Eric C. Chang).

"ADRs versus GDRs: Legal Bonding or Legal Bondage?" (with R. Ravichandran).

PAPERS PRESENTED AT PROFESSIONAL MEETINGS and/or OTHER UNIVERSITIES:

"Capital Structure Changes and Signaling Theory: A Re-examination of Empirical Evidence." Financial Management Association, October 1981.

"The Impact of Preferred-for-Common Exchange Offers on Firm Value." (with Ronald C. Lease), Western Finance Association, June 1983.

"Bond Returns, Inflation, Risk and Real Activity." (with Eric C. Chang) Financial Management Association, October 1984. ( Runner-up for the best investments paper at the convention.)

"Real Returns, Risk Premia and Inflation." (with Eric C. Chang) Western Finance Association, June 1985.

"The Effects of Issuing Preferred Stock on Common and Preferred Stockholder Wealth." (with Scott C. Linn) Financial Management Association, October 1985.

"Return Seasonalities and Tax-loss Selling in the Market for Long-term Government and Corporate Bonds." (with Eric C. Chang) Western Finance Association, June 1986.

"Market Rewards for Risk Bearing: A Fundamental Approach." (with Eric C. Chang) Financial Management Association, October 1987.

"The Wealth Effects of Domestic Joint Ventures: An Information Hypothesis." (With R. Ravichandran) Interuniversity Finance Symposium at Columbia Missouri, September 1987; Washington State University, September 1988, and Financial Management Association, October 1988.

"The Effect of International Licensing Arrangements on Domestic Shareholders' Wealth," (with R. Ravichandran), Academy of International Business, Singapore, November 1989.

"Technology Transfer and Licensing Announcements: A Stock Market Perspective," (with R. Ravichandran) Conference on Strategic Leadership in High Technology Organizations, University of Colorado at Boulder, January 1990.

"Wealth Sharing in Domestic Interfirm Licensing Agreements," Financial Management Association, October 1990, October 1996.

"Risk Shifting in International Licensing Agreements," (with R. Ravichandran), Financial Management Association, October 1990.

"Predictability and Regional Integration of Pacific Basin Equity Markets," (with Eric C. Chang and R. Ravichandran), Third Annual Pacific-Basin Finance Conference, Seoul, Korea, June 1991; Financial Management Association, October 1992.

"Latent Variable Tests of the Integration of European Equity Markets," (with Eric C. Chang and R. Ravichandran), European Finance Association, Rotterdam, Netherlands, August, 1991. 

"The Price Effects of Secondary Offerings of Senior Securities and Warrants," (With Scott C. Linn), Financial Management Association, October 1991.

"International Evidence on the Robustness of Day-of-the-Week Effect," (with R. Ravichandran and Eric C. Chang), Fourth Annual Pacific-Basin Finance Conference, Hong Kong, July 1992; Financial Management Association, October 1992.

"Wealth Expropriation through Non-Equity Alliances: The Japanese Licensing Experience," (with John C. Beck and Alan B. Larsen), International Symposium on Pacific Asian Business, February 1993, Financial Management Association, Toronto, October 1993.

European Day-of-the-Week Effects, Beta Asymmetries, and International Herding," (with Eric C. Chang and R. Ravichandran), University of Denver Finance Workshop, February, 1994; European Finance Association, Brussels, August 1994 and Financial Management Association, St. Louis, October 1994.

"Delayed Reaction to Good News and the Cross-autocorrelation of Portfolio Returns," (with Grant McQueen and Steven Thorley), University of Colorado at Boulder, January 1995; University of Utah, October 1995; American Finance Association Meetings, January 1996.

"US Day-of-the-Week Effects and Asymmetric Responses to Macroeconomic News" (with Eric C. Chang and R. Ravichandran), Financial Management Meetings, October 1995; University of Aarhus, Denmark, December 1995, Southern Illinois University, University of Colorado at Colorado Springs, University of Northern Colorado.

"Does Futures Trading Increase Stock Market Volatility? The Case of the Nikkei Stock Index Futures Markets," (with Eric C. Chang and Joseph W. Cheng), Pacific Basin Finance Meetings, June 1996; Financial Management Meetings, October 1996, University of Oklahoma, January 1997.

“Cross-autocorrelation in Asian Stock Markets,” (with Eric C. Chang and Grant McQueen), Arizona State University, July 1998; Pacific Basin Finance Conference, October 1998; National University of Singapore, October 1998.

“GDR Offerings Under SEC Rule 144A and Regulation S: Evidence from the Bombay Stock Exchange,” (with R. Ravichandran), York University, Toronto Canada, January 1999; Trondheim, University, Norway, January 1999; Strathclyde University, Scotland, February, 1999; University of Utah, March 1999; Pacific Basin Finance Conference (Melbourne, Australia), June 2000.

“Volatility Shifts of Indian Stocks Surrouding Global Depositary Receipt Issues,” (with R. Ravichandran), Northern Arizona University, September 2000; Financial Management Meetings, October 2000.

"US Investors’ Perceptions of Corporate Control In Mexico: Evidence from Sibling ADRs," (with R. Ravichandran), Copenhagen, June 2002; Northwestern University, September 2002.
 

AD HOC REFEREE:
Journal of Finance
Journal of Financial and Quantitative Analysis
Financial Management
Journal of Banking and Finance
Journal of Financial Research
Journal of Portfolio Management
Journal of Futures Markets
 

PROFESSIONAL SERVICE:
 

Financial Management Association

Competitive Papers Panel Member:  1989, 1991

Program Committee Member:  1985, 1989, 1990, 1994-1998, 2002-2003

Midwest Finance Association

Program Committee Member:  1986

PROFESSIONAL AFFILIATIONS:
Western Finance Association
Financial Management Association
American Finance Association
 

UNIVERSITY/COLLEGE/DEPARTMENTAL SERVICE:

University:

Investments Committee, 1989-present

Faculty Advisory Committee, 1994-1997, 2002-present

Academic Review Committee, 2003-present

Marriott School:

Graduate Curriculum Committee, 1995-1997

Department:

Finance Group Leader, 1993-1996

Department Chair, 1996-2002