Publications in Refereed Journals:
The Relative Valuation of US Equities at Bear Market Bottoms: A Perspective on the Equity Risk Premium, with Robert Irons, Investment Management and Financial Innovations 9, No. 3 (2012), 43-54.
Could US Stocks Be Fairly-Valued Under the “New Normal” Paradigm?, Problems and Perspectives in Management 10, No. 4 (2012), 7-16.
The Financial Performance of US Commercial Banks 2001-2010, with Robert Irons, Banks and Bank Systems 6, No. 3 (2011), 51-62.
Creating a Capital Budgeting Model in Excel, with Jessica Collins and Robert Irons, Journal of Instructional Techniques in Finance (2011).
Hedge Fund Returns, Risk and Fees and Systematic Equity Factors, with Rosemary Walker, Regional Business Review 30 (May 2011) 96-111.
The Cross-Sectional Dispersion of Stock Returns, Alpha and the Information Ratio, with Larry R. Gorman and Steven G. Sapra, The Journal of Investing 19, No. 3 (Fall, 2010), 113-127.
The Role of Cross-Sectional Dispersion in Active Portfolio Management, with Larry R. Gorman and Steven G. Sapra, Investment Management and Financial Innovations 7, No. 3 (2010), 58-68.
Changing Perspectives on Payout Policy: The Evolution from Dividends to Share Repurchase, with H. Kent Baker, Managerial Finance 35, No. 2 (2009), 479-492.
Cross-Sectional Differences in the Profits, Returns and Risk of Firms Initiating Dividends, with Neil Fargher, Managerial Finance 35, No. 2 (2009), 509-530.
The Incredible Shrinking Equity Premium: Investors’ Greatest Cognitive Error, Problems and Perspectives in Management 7, No. 3 (2009), 4-14.
US Equities’ Heartbreaking Performance is Nothing New, Investment Management and Financial Innovations 6, No. 4 (2009), 233-235.
The Economics of Alternative Energy and Perspectives for a 21st Century Energy Policy, with James Haines and J.D. Kaad, Regional Business Review (May 2009), 36-53.
Compression and Expansion of the Market P/E Ratio: The Fed Model Explained, with Robert Irons, The Journal of Investing 17 (Spring 2008), 55-64.
Market Signals for When to Employ a Bonds-First Withdrawal Sequence to Extend the Longevity of Retirees’ Portfolios, with Robert Irons, Journal of Financial Planning (November 2008), 66-77.
130/30 Funds: The Evolution of Active Equity Investing, with Charles Krusen and Florian Weber, Institutional Investor Special Issue: Guide to 130/30 Strategies (2008), 176-185.
The Business Case for Commitment to Diversity, with Stanley F. Slater and Thomas J. Zwirlein, Business Horizons 51 (2008), 201-209.
Testing Equity Portfolios for Alpha Bias: An Application for Student Investment Funds, with Larry R. Gorman, Journal of Economics and Finance Education 7, No. 2 (Winter 2008), 31-38.
Measuring Alpha-Based Performance: Implications for Alpha-Focused Structured Products, with Larry R. Gorman, Investment Management and Financial Innovations 5, No. 2 (2008), 17-23.
Analyzing the Effects of a Pure Capital Structure Change on the Value of a Firm, with Robert Irons, Journal of Finance Case Research (2008/2009), 61-72.
An Analysis of Factors Affecting Ex-Dividend Day Stock Prices in Global Capital Markets, with J.T. Connelly, L. Gorman and P. Limpaphayon, Problems and Perspectives in Management 6, No. 1 (2008), 77-92.
The Market P/E Ratio, Earnings Trends and Stock Return Forecasts, with Robert Irons, The Journal of Portfolio Management 33 (Summer 2007), 87-101.
Capital City Corporation: A Case Study in Financial Analysis and Forecasting for Shareholder Value Creation, with Robert Irons, Journal of Finance Case Research 9, Vol. 2 (2007), 73-77.
An Experiential Learning Exercise in Determining a Firm’s Payout Policy, with Robert Hull and William Roach, Journal of Financial Education 33 (2007), 11-36.
Organizational Diversity, Profits and Returns in U.S. Firms, Problems and Perspectives in Management 5, No. 3 (2007), 63-77.
Does the Market P/E Ratio Revert Back to “Average”? with Robert Irons, Investment Management and Financial Innovations 3, No. 3 (2006), 30-39.
Firm Performance and Corporate Bankruptcy: A Comparison of Voluntary and Involuntary Filings, with Jeffrey Donaldson, Journal of Business and Leadership 1 (2005), 12-22.
The Ex-Dividend Day Behavior of American Depository Receipts, with Larry R. Gorman and Arvind Mahajan, Journal of Multinational Financial Management 14 (2004), 1-18.
Stock Selection Based on Mutual Fund Holdings: Evidence from Large-Cap Funds, with Susan Belden and Thomas J. Zwirlein, Financial Services Review 13 (2004), 139-150.
The Information Content of Dividend Resumptions, with Larry R. Gorman and Thomas J. Zwirlein, Studies in Economics and Finance 22 (2004), 70-79.
Sources of Bank Interest Rate Risk, with Donald Fraser and Jeff Madura, The Financial Review 37 (2002), 351-368.
What Drives the Momentum in Mutual Fund Returns? with F. Larry Detzel, Journal of Performance Measurement 4 (2000), 39-49.
FDICIA and Bank Failure Contagion: Evidence from the Two Failures of First City Bancorporation, with Donald Fraser and Babu Baradwaj, Journal of Economics and Finance 23 (1999), 99-111.
The Information Content of Dividend Initiations: Additional Evidence, with Edward A. Dyl, Financial Management 27 (1998), 27-35.
Changes in the Stock Price Reaction of Small Firms to Common Information, with Neil Fargher, Journal of Financial Research 21 (1998), 105-121.
The Generation of Stock Market Cycles, with Steven E. Bolten, The Financial Review 33 (1998), 77-83.
Explaining Persistence in Mutual Fund Performance, with F. Larry Detzel, Financial Services Review 7 (1998), 45-55.
Trading Volume and Firm Size: A Test of the Information Spillover Hypothesis, Review of Financial Economics 5 (1996), 47-58.
Book Chapters, Conference Proceedings, and Other Articles:
Why Firms Begin Paying Dividends: Value, Growth and Life Cycle Effects, with Neil Fargher, Companion to Dividends and Dividend Policy, Blackwell Publishing: New Jersey (2009), 423-445.
The Incredible Shrinking Equity Premium: Investors’ Greatest Cognitive Error, Proceedings of the Mountain Plains Management Conference, Grand Junction, Colorado, October 2009.
Perspectives on 130/30 Funds, Proceedings of 130/30 Funds London, London (2007).
Measuring Alpha-Based Performance: Implications for Alpha-Focused Structured Products, with Larry R. Gorman, Proceedings of Portable Alpha 2007, London (2007).
An Experiential Learning Exercise in Determining a Firm’s Payout Policy, with Robert Hull and William Roach, Proceedings of the Midwest Finance Association, Chicago (2006).
Changing Perspectives on Corporate Payout Policy: From Cash Dividends to Share Repurchase, Financiele Studievereniging Rotterdam Forum 8 (2005), 6-10.
The Generation of Stock Market Cycles, reprinted in Stock Market Cycles: A Practical Explanation (2000), with Steven E. Bolten, Quorom Books, Greenwood Publishing Group, Westport, CT.