Ronald W. Masulis

 

          Frank K. Houston Professor of Finance

 

          Owen Graduate School of Management
          Vanderbilt University

          401 21st Avenue South

          Nashville, TN 37203
          Tel : (631) 322-3687

          Fax : (631) 343-7177

 

 

          Email : ronald.masulis@owen.vanderbilt.edu

 

          SSRN Author Page: http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=122768

 

          Curriculum Vitae for Ronald Masulis

 

 

WORKING PAPERS:

 

Are All Inside Directors the Same? with Shawn Mobbs, September 2009, (Under 3nd round revision for the Journal of Finance and presented at the 3rd FIRS Finance Conference and the 2008 Conference on Empirical Legal Studies, the 2009 American Finance Association Meetings and the 2009 European Financial Management Symposium on Corporate Governance and Control at Cambridge University.)

 

Do Underwriters or Venture Capitalists Restrain Earnings Management by IPO Issuers? with Gemma Lee, August 2009, (Presented at the 2007 American Accounting Association Meetings, Chicago and the 2008 EFM Symposium on IPOs at Oxford University and the 2009 Financial Management Association Annual Meetings.)

 

Family Business Groups around the World: Costs and Benefits of Pyramids with Peter Pham and Jason Zein, September 2009, (Presented at the 2008 Hong Kong University of Science and Technology, 2008 Summer Symposium on Family Business Research, the 2008 Conference on Executive Compensation & Corporate Governance, the UNC-Duke Corporate Finance Conference, the 5th Annual Conference on Corporate Finance at Washington University, the 2009 European Financial Management Symposium on Corporate Governance and Control at Cambridge University and the 2009 FMA European Conference and given the Best Corporate Finance Paper Award and presented at the 2009 FMA Annual Meetings.)

 

Are Foreign Directors Valuable Advisors or Ineffective Monitors? with Cong Wang and Fei Xie,  November 2009, (Under review and presented at the 2008 Financial Management Association Meetings and the 2009 European Financial Management Symposium on Corporate Governance and Control at Cambridge University.)

 

Corporate Venture Capitalists, Strategic Alliances, and the Governance of Newly Public Firms with Vladimir Ivanov, August 2009, (Presented at 2007 European Finance Association Meetings and the 2007 Financial Management Association Meetings.)

 

How Do Venture Investments by Different Classes of Financial Institutions Affect the Equity Underwriting Process? with Xi Li, September 2008, (Presented at the 2008 American Economic Association Meetings, EFM Symposium on IPOs at Oxford University, 3rd FIRS Finance Conference and the 2008 Financial Management Association Meetings.)

Equity Ownership in IPO Issuers by Brokerage Firms and Analyst Research Coverage with Xi Li, May 2008, (Presented at the 2007 Financial Management Association Meetings.)

Venture Capital Investments by IPO Underwriters: Certification or Conflict of Interest? with Xi Li, August 2007 (Presented at the 2004 Financial Management Association Annual Meetings and the 2003 Western Finance Association Annual Meetings.)

 

Local Director Talent and Board Composition with Anzuhela Knyazeva and Diana Knyazeva, November 2009, (Presented at the 2008 the European Financial Management Symposium on Corporate Governance and Control, Cambridge England and the 2009 Financial Management Association Annual Meetings.)

 

Law Firm Reputation and Mergers and Acquisitions with C.N.V. Krishnan, November 2009, (Presented at the 2009 Conference on Empirical Legal Studies.)

 

Information Revelation along the Supply Chain: The Relationship between Suppliers and Large Customers, with William Johnson, Jun-koo Kang and Sangyo Yi, November 2009.

 

                   

PUBLICATIONS:

 

Venture Capital Reputation, Post-IPO Performance and Corporate Governance (with Vladimir Ivanov, C.N.V. Krishnan and Ajai Singh), forthcoming Journal of Financial and Quantitative Analysis, 2009.

 

Venture Capital Conflicts of Interest: Evidence from Acquisitions of Venture Backed Firms (with Raj Nahata), forthcoming Journal of Financial and Quantitative Analysis, 2009.

 

Strategic Investing: Evidence from Corporate Venture Capital (with Raj Nahata), forthcoming Journal of Financial Intermediation, 2009.

 

Agency Costs at Dual-Class Companies (with Cong Wang and Fei Xie), Journal of Finance, August 2009, 64:4, 1697-1727.

 

Seasoned Equity Offerings: Quality of Accounting Information and Expected Flotation Costs (with Gemma Lee), Journal of Financial Economics, August 2009, 92, 443-469.  

 

Does Private Equity Create Wealth? The Effects of Private Equity and Derivatives on Corporate Governance (with Randall Thomas) University of Chicago Law Review, 2009, vol. 76, 219-260.

 

Corporate Governance and Acquirer Returns  (with Cong Wang and Fei Xie), Journal of Finance, August 2007, vol. 62:4, 1851-1889.

Security Offerings (with Espen Eckbo and Oyvind Norli), in B. E. Eckbo, Handbook of Corporate Finance: Empirical Corporate Finance 2007, (North-Holland/Elsevier), Chapter 13.

Government Bailouts and Political Connections (with Mara Faccio and John McConnell), Journal of Finance, December 2006, vol. 61:6, 2597-2635.

 

The Choice of Financing Methods in European Mergers & Acquisitions (with Mara Faccio), Journal of Finance, June 2005, vol. 60:3, 1345-1388. 

 

Trading Activity and Stock Price Volatility: Evidence from the London Stock Exchange (with Roger Huang), Journal of Empirical Finance, May 2003, vol. 10:3, 249-269, (lead article).

 

Does Market Structure Affect the Immediacy of Stock Price Responses to News? (with Lakshmanan Shivakumar), Journal of Financial and Quantitative Analysis, December 2002, vol. 37:4, 617-648.

 

Seasoned Public Offerings: Resolution of the ‘New Issues Puzzle’ (with B. Espen Eckbo and Oyvind Norli), Journal of Financial Economics, May 2000, vol. 56:2, 251-291.  Journal of Financial Economics All Star Award.

 

FX Spreads and Dealer Competition across the 24 Hour Day (with Roger Huang), Review of Financial Studies, Spring 1999, vol. 12:1, 61-93.

 

Energy Shocks and Financial Markets (with Roger Huang and Hans Stoll), Journal of Futures Markets, February 1996, vol. 16:1, 1-27, (lead article).

 

Overnight and Daytime Stock Return Dynamics on the London Stock Exchange (with Victor Ng), Journal of Business and Economic Statistics, October 1995, vol. 13:4, 365-378, (lead article).

 

Seasoned Equity Offerings: A Survey, (with B. Espen Eckbo) Handbook in Finance, R. Jarrow, V. Maksimovic and B. Ziemba (eds.) 1995, North Holland.

 

Common Stock Offerings across the Business Cycle: Theory and Evidence, (with Hyuk Choe and Vikram Nanda), Journal of Empirical Finance, 1993, vol. 1:1, 3-31 (lead article, inaugural issue).

 

Adverse Selection and the Rights Offer Paradox, (with B. Espen Eckbo), Journal of Financial Economics, December 1992, vol. 32:3, 293-332.

 

Costs of Equity Issuance, (with B. Espen Eckbo) New Palgrave Dictionary of Money and Finance, 1992, MacMillan.

 

Dividend Capture, (with Jonathan Karpoff) New Palgrave Dictionary of Money and Finance, 1992, MacMillan.

 

An Investigation of Market Microstructure Impacts on Event Study Returns (with Ronald Lease and John Page), Journal of Finance, September 1991, vol. 46:4, 1523-1536. 

 

An Investigation of the Earnings Information Content in Issuer Tender Offers (with Larry Dann and David Mayers), Journal of Accounting and Economics, September 1991, vol. 14:3, 217-251, (lead article).

 

The Effect of the 1987 Stock Crash on International Financial Integration (with Yasushi Hamao and Victor Ng), Japanese Financial Market Research, W. Bailey, Y. Hamao and W. Ziemba (eds.), 1991 North Holland.

 

Correlations in Price Changes and Volatility across International Stock Markets (with Yasushi Hamao and Victor Ng), Review of Financial Studies, 1990, vol. 3:2, 281-308. 

 

Reprinted in R. Stulz and A. Karolyi (eds.), International Capital Market Integration, London: Edward Elgar Publishing, 2003.

 

The Debt‑Equity Choice, Institutional Investor Series in Finance, 1988, Ballinger Press.

 

Corporate Investment and Dividend Decisions under Differential Personal Taxation (with Brett Trueman), Journal of Financial and Quantitative Analysis, December 1998, vol. 23:4, 369-386.

 

Changes in Ownership Structure: Conversions of Mutual Savings and Loans to Stock Charter Journal of Financial Economics, March 1987, vol. 18:1, 29-60.

 

Seasoned Equity Offerings: An Empirical Investigation (with Ashok Korwar), Journal of Financial Economics, January/February 1986, vol. 15:1/2, 91-118, Journal of Financial Economics All Star Award. 

 

The Valuation Effects of Stock Splits and Stock Dividends (with Mark Grinblatt and Sheridan Titman), Journal of Financial Economics, December 1984, vol. 13:4, 461-490, (lead article).

 

The Impact of Capital Structure Change on Firm Value, Some Estimates Journal of Finance, March 1983, vol. 38:1, 107-126.

 

Government Intervention in the Mortgage Market, A Study of Anti‑Redlining Regulations Journal of Monetary Economics, September 1982, vol. 10, 191-213.

 

Optimal Capital Structure under Corporate and Personal Taxation (with Harry DeAngelo), Journal of Financial Economics, March 1980, vol. 8:1, 3-27, (lead article), Journal of Financial Economics All Star Award.

 

Reprinted in Clifford Smith, editor, The Modern Theory of Corporate Finance, 2nd edition, McGraw-Hill, 1990.

 

Stock Repurchase by Tender Offer, An Analysis of the Causes of Common Stock Price Changes Journal of Finance, May 1980, vol. 35:2, 305-319.

 

Leverage and Dividend Irrelevance under Corporate and Personal Taxation (with Harry DeAngelo), Journal of Finance, May 1980, vol. 35:2, 453-464.

 

The Effects of Capital Structure Change on Security Prices: A Study of Exchange Offers Journal of Financial Economics, June 1980, vol. 8:2, 139-178, Journal of Financial Economics All Star Award.

 

Reprinted in Clifford Smith, editor, The Modern Theory of Corporate Finance, 2nd edition, McGraw-Hill, 1990.

 

The Option Pricing Model and the Risk Factor of Stock (with Dan Galai), Journal of Financial Economics, January/March 1976, vol. 3:1/2, 53-81, Journal of Financial Economics All Star Award.

 

Reprinted in Cheng-few Lee, editor, Financial Analysis and Planning: Theory and Application, Addison-Wesley 1982.

 

         

 

         

 

 

Updated: November 28, 2009