# overview
My reasearch interests include banking, securities markets, asset pricing, and empirical models in finance.

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35 Commerce, Management, Tourism And Services

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35 Commerce, Management, Tourism And Services

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Ex Post And Ex Ante Fisher And Wicksell Coefficients

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35 Commerce, Management, Tourism And Services

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3501 Accounting, Auditing And Accountability

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35 Commerce, Management, Tourism And Services

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3507 Strategy, Management And Organisational Behaviour

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35 Commerce, Management, Tourism And Services

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35 Commerce, Management, Tourism And Services

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Abnormal Returns; Event Day Clustering; Clustering Robust Standard Errors; Cross-sectional Correlation

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35 Commerce, Management, Tourism And Services

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35 Commerce, Management, Tourism And Services

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3507 Strategy, Management And Organisational Behaviour

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35 Commerce, Management, Tourism And Services

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35 Commerce, Management, Tourism And Services

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35 Commerce, Management, Tourism And Services

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Exchange Rate Exposure; Stock Returns; Cross-country Industry Competition; Market Integration; Pre- And Post-euro

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Average Relative Absolute Return Contribution (ararc)

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35 Commerce, Management, Tourism And Services

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35 Commerce, Management, Tourism And Services

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3507 Strategy, Management And Organisational Behaviour

# educationAndTraining[].organization.label
Western Illinois University - (Macomb, Michigan, United States)

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Arizona State University - (Tempe, Arizona, United States)

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M.B.A. Master of Business Administration

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Western Illinois University - (Macomb, Michigan, United States)

# publications[].label
Did Capital Infusions Enhance Bank Recovery from the Great Recession?

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PRODUCTION COSTS FOR CONSOLIDATED MULTIBANK HOLDING COMPANIES COMPARED TO ONE-BANK ORGANIZATIONAL FORMS

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Dynamic Risk Adjustment in Long-Run Event Study Tests

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A note on the stock market effects of the adoption of risk-based capital requirements on international banks in different countries

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Bank Asset Liquidation and the Propagation of the U.S. Great Depression

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LONG-TERM TRENDS IN THE RISKINESS OF ELECTRIC UTILITY SHARES

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A note on the distribution types of financial ratios in the commercial banking industry

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Forecasting Bank Capital Ratios Using the Prophet Model by Facebook

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Effects of heterogeneity on bank efficiency scores

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Deriving weights from general pairwise comparison matrices

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Power of Profit: Business and Economic Analyses, Forecasting, and Stock Valuation

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Stock market integration and financial crises: the case of Asia

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Impacts of Monetary Policy Rates on Interest and Inflation Rates

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The Wealth and Risk Effects of International Bond Ratings in Mexico

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Return Dispersion and Investment Anomalies

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What's the expected loss when Bitcoin is under cyberattack? A fractal process analysis

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Analytical Solution for Optimal Capital Structure in Perpetuities

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On Survivor Stocks in the S&P 500 Stock Index

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BRANCH BANK OPERATING COSTS - EVIDENCE FROM SAVINGS BANKS IN FINLAND

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Foreign Exchange Risk and the Cross-Section of Stock Returns

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Joint-stock company Glinozem - A case study of privatization and valuation

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Better Not Forget: On the Memory of S&P 500 Survivor Stock Companies

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Inflation News and the Stock Market: Macroefficiency or Overreaction

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A robust and powerful test of abnormal stock returns in long-horizon event studies

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Nonparametric rank tests for event studies

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Minimum-variance portfolio optimization: an asset pricing model approach

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Revisiting momentum profits in emerging markets

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Measurement Problems in Global Financial Reporting: The Need for a Stable Composite Currency

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Factor momentum, option-implied volatility scaling, and investor sentiment

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The effect of changes in reserve requirements on bank stock prices

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Enjoying the Quiet Life Under Deregulation? Evidence from Adjusted Lerner Indices for U.S. Banks

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The problem of money as a measuring stick

# publications[].publisher
Association for Computing Machinery (ACM)

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Inflation News and the Stock Market: Macroefficiency or Overreaction

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Revisiting Momentum Profits in Emerging Markets

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Foreign Exchange Risk and the Cross-Section of Stock Returns

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Testing the Information-Based Trading Hypothesis in the Option Market: Evidence from Share Repurchases

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Investment Valuation and Asset Pricing, Models and Methods

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Exchange risk and universal returns: A test of international arbitrage pricing theory

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Measurement problems in global financial reporting: The need for a stable composite currency

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European public real estate market integration

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Blind Man's Bluff: On the Search of the Optimal Capital Structure

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The CAPM Works Better for Average Daily Returns

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Predicting European Bank Stress Tests: Survival of the Fittest

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The effects of securitization on mortgage market yields: A cointegration analysis

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A Quantum Leap in Asset Pricing: Explaining Anomalous Returns

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Inefficient or Just Different? Effects of Heterogeneity on Bank Efficiency Scores

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Financial Institutions Understanding and Managing Financial Services

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The Fisher puzzle, real rate anomaly, and Wicksell effect

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Branch office economies of scale and scope: evidence from savings banks in Finland

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Predicting large US commercial bank failures

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A Quantum Leap in Asset Pricing: Explaining Anomalous Returns

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El Juego De La Gallina Ciega: Buscando La Estructura ptima De Capital (Blind Man's Buff: On the Search of the Optimal Capital Structure) (Slides)

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The Fisher Puzzle, Real Rate Anomaly, and Wicksell Effect

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Small Growth Firms, Venture Capital and Financial System Trends

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International tests of the ZCAPM asset pricing model

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El Juego De La Gallina Ciega: Buscando La Estructura ptima De Capital (Blind Man's Buff: On the Search of the Optimal Capital Structure) (Slides)

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Systemic Risk Measurement in Banking Using Self-Organizing Maps

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CAPM: A Covariance Adjustment Approach for Estimating Market Beta

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Further evidence on the credit view: the case of Finland

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On Long-Run Stock Returns after Corporate Events

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Exchange Rate Shocks and Firm Competitiveness in a Small, Export-Oriented Economy: The Case of Finland

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Computing and testing a stable common currency for Mercosur countries

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The Role of Profit in Advanced Market Economies

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International Tests of the ZCAPM Asset Pricing Model

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A Profit System Model of Stock Market Valuation

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The general agreement on tariffs and trade: World trade from a market perspective

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Cost of Capital with Levered Cost of Equity as the Risk of Tax Shields

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Predicting European bank stress tests: Survival of the fittest

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Optimal Capital Structure for Finite Cash Flows

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Man versus machine: on artificial intelligence and hedge funds performance

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Homogeneity Restrictions on the Translog Cost Model: A Note [Scale Economies in Banking: A Restructuring and Reassessment].

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Estructura Optima de Capital Para Flujos de Caja Finitos (Optimal Capital Structure for Finite Cash Flows)

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STOCK MARKET REACTION TO GOOD AND BAD INFLATION NEWS

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CAPM: A Covariance Adjustment Approach for Estimating Market Beta

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ON THE STRUCTURE OF FINANCIAL CONTAGION: ECONOMETRIC TESTS AND MERCOSUR EVIDENCE

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Blind Man's Bluff: On the Search of the Optimal Capital Structure

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Inefficient or Just Different? Effects of Heterogeneity on Bank Efficiency Scores

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Computing currency invariant indices with an application to minimum variance currency baskets

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ECONOMIES OF SCALE AND SCOPE IN THRIFT INSTITUTIONS - THE CASE OF FINNISH COOPERATIVE AND SAVINGS BANKS

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Measuring the relative return contribution of risk factors

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Foreign exchange risk and the cross-section of stock returns

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On Long-Run Stock Returns After Corporate Events

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Event Study Testing with Cross-sectional Correlation of Abnormal Returns

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Testing the Information-Based Trading Hypothesis in the Option Market: Evidence from Share Repurchases

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Dynamic linkages among equity markets: local versus basket currencies

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Is Currency Momentum a Hedge for Global Economic Risk?

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Cost of Capital with Levered Cost of Equity as the Risk of Tax Shields

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Momentum, Market Volatility, and Reversal

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Stock Market Integration and Financial Crises: The Case of Asia

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Further Tests of the ZCAPM Asset Pricing Model

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The wealth effects of interstate branching

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A Quantum Leap in Asset Pricing: Explaining Anomalous Returns

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MARKET REACTION TO NATIONAL DISCRETION IN IMPLEMENTING THE BASLE ACCORD

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Marketing Strategy Implications of the Miles and Snow Strategic Typology

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Commercial Banking The Management of Risk

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Impacts of Monetary Policy Rates on Interest and Inflation Rates

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MARKET REACTION TO NATIONAL DISCRETION IN IMPLEMENTING THE BASLE ACCORD

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A New Asset Pricing Model Based on the Zero-Beta CAPM: The ZCAPM

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THE IMPACT OF CHANGES IN FEDERAL RESERVE REQUIREMENTS ON BANK SECURITY RETURNS

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NOW-ACCOUNT STRATEGIES OF DEPOSITORY INSTITUTIONS - A RECENT SURVEY OF GOALS, PRICING POLICIES, COSTS, AND RETURNS IN NEW-ENGLAND

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A Cross-Sectional Test for Missing Factors in Asset Pricing Models

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Dynamics of interest and inflation rates

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Exchange Rate Shocks and Firm Competitiveness in a Small, Export-Oriented Economy: The Case of Finland

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Do some lenders have information advantages? Evidence from Japanese credit market data

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Did capital infusions enhance bank recovery from the great recession?

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Assessing the Profitability and Riskiness of Small Business Lenders in the Banking Industry

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Wealth effect of geographical deregulation: the case of Illinois

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The Power of Profit Business and Economic Analyses, Forecasting, and Stock Valuation Concluding Remarks

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AN ANALYTICAL MODEL OF RISKY YIELD CURVES

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How does banking industry consolidation affect bankfirm relationships? Evidence from a large Japanese bank merger

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A Profit System Model of the Firm for Business Analysis and Stock Valuation

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Inefficient or Just Different? Effects of Heterogeneity on Bank Efficiency Scores

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Is bancassurance a viable model for financial firms ?

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Measuring Systemic Risk in the U.S. Banking System

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The Sarbanes-Oxley act and informed trading in the options market: Evidence from share repurchase announcements

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Estructura Optima de Capital Para Flujos de Caja Finitos (Optimal Capital Structure for Finite Cash Flows)

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Chapter 5: Competition, concentration and critical mass: why the HerfindahlHirschman Index is a biased competition measure

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A stablecoin that's actually stable: A portfolio optimization approach

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Nonmonetary effects of the financial crisis in the Great Depression

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ENJOYING THE QUIET LIFE UNDER DEREGULATION? EVIDENCE FROM ADJUSTED LERNER INDICES FOR U.S. BANKS

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Further evidence on long-run abnormal returns after corporate events

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On the stability of long-run relationships between emerging and US stock markets

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Bidder returns in bancassurance mergers: Is there evidence of synergy?

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A Robust and Powerful Test of Abnormal Stock Returns in Long-Horizon Event Studies

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Nonparametric Rank Tests for Event Studies

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Event Study Testing with Cross-Sectional Correlation Due to Partially Overlapping Event Windows

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Early warning models for bank supervision: Simpler could be better.

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Further Tests of the ZCAPM Asset Pricing Model

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Do Euro exchange rates follow a martingale? Some out-of-sample evidence

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Profit System Models of the Corporate Sector

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BANK HOLDING COMPANIES AND BRANCH BANKS: THE AUTHORITY AND CONTROL ISSUE

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Choosing factors: the international evidence

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INTRAINDUSTRY RISK CHANGES IN THE ELECTRIC UTILITY INDUSTRY SINCE THREE-MILE-ISLAND

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Further Evidence on Long-Run Abnormal Returns after Corporate Events using Standardized Tests

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Event Study Testing with Cross-Sectional Correlation Due to Partially Overlapping Event Windows

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Building Efficient Portfolios Sensitive to Return Dispersion

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Costo de Capital con Costo del Patrimonio Apalancado Como el Riesgo de los Escudos Fiscales (Cost of Capital with Levered Cost of Equity as the Risk of Tax Shields)

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Return Dispersion and the Cross-Section of Stock Returns

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Market conditions and time varying conditional correlations

# publications[].publisher
Auckland University of Technology (AUT) Library

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A PATTERN RECOGNITION APPROACH TO EARLY WARNING SYSTEMS IN COMMERCIAL BANKING

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Corporation Income Taxes and the Cost of Capital: A Revision

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Innovar - Revista de Ciencias Administrativas y Sociales

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A New Model of Capital Asset Prices, Theory and Evidence

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Is Currency Momentum a Hedge for Global Economic Risk?

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TITLE MEASUREMENT PROBLEMS IN GLOBAL FINANCIAL REPORTING: THE NEED FOR A STABLE COMPOSITE CURRENCY

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Momentum, Market Volatility, and Reversal

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Building Efficient Portfolios Sensitive to Market Volatility

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Momentum and reversal: information from prior returns

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Large bank efficiency in Europe and the United States: Are there economic motivations for geographic expansion in financial services?

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Costo de Capital con Costo del Patrimonio Apalancado Como el Riesgo de los Escudos Fiscales (Cost of Capital with Levered Cost of Equity as the Risk of Tax Shields)

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Inefficient or Just Different? Effects of Heterogeneity on Bank Efficiency Scores

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Trait Recognition: An Alternative Approach to Early Warning Systems in Commercial Banking

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Excel-Based Business Analysis, Forecasting Key Business Trends

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THE 1982 DEPOSITORY INSTITUTIONS ACT AND SECURITY RETURNS IN THE SAVINGS AND LOAN INDUSTRY

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Profit System Models of the Firm, Industry, and Business Sector

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Return dispersion risk in FX and global equity markets: Does it explain currency momentum?

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THE CYCLICAL EFFECT OF DEFAULT RISK ON INDUSTRIAL BOND YIELDS

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Measuring systemic risk in the US Banking system

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Commercial Banking The Management of Risk

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On Survivor Stocks in the S&P 500 Stock Index

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Corporation Income Taxes and the Cost of Capital: A Revision

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Bank asset liquidation and the propagation of the US Great Depression

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Systemic risk measurement in banking using self-organizing maps

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EARLY WARNING SYSTEMS AS A MONITORING DEVICE FOR BANK CONDITION

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HOMOGENEITY RESTRICTIONS ON THE TRANSLOG COST MODEL - A NOTE

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Exchange Rate Shocks and Firm Competitiveness in a Small, Export-Oriented Economy: The Case of Finland

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Estimating the overall financial performance of Mexican banks using a new method for quantifying subjective information

# publications[].publisher
Institute of Electrical and Electronics Engineers (IEEE)

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The Future of Small Banks in a Deregulated Environment

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Optimal Capital Structure for Finite Cash Flows

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Do Technology and Efficiency Differences Determine Productivity?

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Competition and innovation: Evidence from financial services

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Small Business Lending and Bank Profitability

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Dynamics of Interest and Inflation Rates

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BOND RISK PREMIUMS, FINANCIAL DATA, AND THE EFFECT OF MARKET SEGMENTATION

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Return Dispersion and Investment Anomalies

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A Macroeconomic Profit System Model of Advanced Market Economies

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MARKET POWER, BANK MEGAMERGERS, AND THE WELFARE OF BANK BORROWERS

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Commercial bank mutual fund activities: Implications for bank risk and profitability

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Return Dispersion and the Cross-Section of Stock Returns

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Dynamic Risk Adjustment in Long-Run Event Study Tests

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MARKETING STRATEGY IMPLICATIONS OF THE MILES AND SNOW STRATEGIC TYPOLOGY

# streetAddress
3204 Westchester Ave.; Finance; 3204 Westchester Ave.

# etdChairOf[].label
Liu, Wei (2013-05). A New Asset Pricing Model based on the Zero-Beta CAPM: Theory and Evidence. Doctoral Dissertation.

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Moorman, Theodore Clark (2006-05). Corporate governance and long-term stock returns. Doctoral Dissertation.

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Viale, Ariel Marcelo (2003-05). Common risk factors in bank stocks. Doctoral Dissertation.