CURRICULUM VITA. PAUL HANOUNA, Ph.D.

Transcription

1 CURRICULUM VITA PAUL HANOUNA, Ph.D. Biography Dr. Paul Hanouna is Associate Professor of Finance at Villanova University and Resident Research Fellow at the Center for Financial Research at the Federal Deposit Insurance Corporation. His primary research interests are in corporate finance, credit risks, credit derivatives and real estate. His research in executive incentive compensation and credit default swaps has appeared in peer-reviewed publications such as the Journal of Corporate Finance, Journal of Financial Intermediation, Journal of Banking and Finance, Journal of Economic Dynamics and Control, Annals of Operations Research, and Journal of Investment Management. His research has been presented at seminars and conferences at leading financial, regulatory and academic institutions and relayed in national media outlets such as the Philadelphia Inquirer, the Indianapolis Star, the Denver Post and Motley Fool. Notably, his research on executive compensation has been mentioned in the United States Senate in the discussion to reform executive compensation. He has been a co-organizer of the nationally recognized Mid-Atlantic Research Conference (MARC) in Finance. Currently, he is examining with colleagues at the FDIC the question of whether foreclosures are contagious. At Villanova University he teaches Corporate Finance, Fixed Income and Advanced Financial Modeling in the Master of Business Administration and Master of Science in Finance programs. Before joining the Villanova School of Business, he taught in the MBA and undergraduate programs at the Leavey School of Business at Santa Clara University and in the undergraduate programs at the Krannert School of Management at Purdue University where he received several teaching awards. He also teaches Financial Analysis for the International Monetary Fund. Prior to academia he was a Research Analyst and later Associate at the Law and Economics Consulting Group (LECG, Inc.). At LECG he worked on a variety of consulting and litigation support cases involving securities fraud, patent infringement, and the valuation of interests in closely held firms, intangible assets, warrants, restricted stock, and employee stock options. Paul received his Ph.D. in Finance from the Krannert School of Management at Purdue University (2005) and his B.S. in Business Administration from the Haas School of Business at the University of California, Berkeley (1997). He is a member of the American Finance Association, the European Financial Association, the Western Finance Association and the Financial Management Association. Paul is a third generation Cal-Berkeley graduate. He was born in Oakland, California and raised in Paris, France and is bilingual in English and French. 1

2 Contact Information PAUL HANOUNA, Ph.D. Villanova School of Business, Department of Finance Villanova University 800 Lancaster Ave, Villanova, Pennsylvania Office: (610) , Mobile: (765) Current Appointments Associate Professor, Department of Finance Villanova School of Business Villanova University, Villanova, Pennsylvania Resident Fellow, Center for Financial Research Federal Deposit Insurance Corporation. Washington, District of Columbia Technical Advisor, IMF Institute International Monetary Fund. Washington, District of Columbia Fellow, Daniel M. DiLella Center for Real Estate Villanova School of Business. Villanova, Pennsylvania Previous Appointments Assistant Professor, Department of Finance Villanova School of Business Villanova University, Villanova, Pennsylvania Visiting Assistant Professor, Department of Finance Leavey School of Business Santa Clara University. Santa Clara, California Instructor Krannert School of Management Purdue University. West Lafayette, Indiana Associate Navigant Consulting, Emeryville, California Research Associate LECG Inc. (formerly: Law and Economics Consulting Group Inc.), Emeryville, California 2

3 Education 2005 Ph.D., Finance Krannert School of Management Purdue University. West Lafayette, Indiana 1997 B.S., Business Administration Haas School of Business University of California. Berkeley, California Research Refereed Publications Run-Lengths and Liquidity Annals of Operations Research, 176, 2010, pp Implied recovery Journal of Economic Dynamics and Control, 33, 2009, pp (Lead Article) Accounting-based vs. market-based models of CDS spreads and Atulya Sarin Journal of Banking and Finance, 33, 2009, pp Hedging Credit: Equity Liquidity Matters Journal of Financial Intermediation, 18, 2009, pp Credit Default Swap Spreads Journal of Investment Management, 4 (3), 2006, pp Is there a Dark Side to Incentive Compensation? with David J. Denis and Atulya Sarin Journal of Corporate Finance, 12 (3), 2006, pp Chapters and Monographs Recovery Rate, with S.R. Das. Encyclopedia of Quantitative Finance John Wiley & Sons, Ltd., UK Recovery Rate Swaps, with S.R. Das. Encyclopedia of Quantitative Finance John Wiley & Sons, Ltd., UK 3

4 Working papers The Value of Corporate Control: Some International Evidence, with Atulya Sarin and Alan C. Shapiro University of Southern California, SSRN Working Paper. Are Foreclosures Contagious?, with Ryan Goodstein, Carlos Ramirez, and Christof Stahel George Mason University, CFR-FDIC, SSRN Working Paper. Work in Progress Executive Compensation and Credit Risk, with Paul Kupiec and Claire Rosenfeld Can structural Models Predict Recovery Rates?, with Edward Altman and Sanjiv Das Presentations & Conference Acceptances 2011 Keynote Speech, Are Foreclosures Contagious? Rotary Club of Ardmore Meetings, Lower Merion Cricket Club, Haverford, PA Are Foreclosures Contagious? Wilfrid Laurier University, Waterloo, Canada Are Foreclosures Contagious? William & Mary, Williamsburg, VA 2010 Are Foreclosures Contagious? International Monetary Fund, Washington, DC Are Foreclosures Contagious?, Federal Deposit Insurance Corporation, Washington DC 2009 Keynote Speech, Economic Outlook Equipment, Leasing, and Finance Association, Credit and Collections Conference, Crystal City, VA Implied Recovery, University of Paris, Dauphine, Paris, France 2008 Run Lengths and Liquidity, Liquidity Conference, University of Chicago, Chicago, IL Hedging Credit: Equity Liquidity Matters, Moody s Credit Conference, New York, NY International Risk Management Conference, Florence, Italy Implied Recovery, California Polytechnic, San Luis Obispo, CA 2007 Implied Recovery, Stevanovich Center for Financial Mathematics, University of Chicago, Chicago, IL 4

5 Hedging Credit: Equity Liquidity Matters, Villanova School of Business, Villanova University, Villanova, PA Run Lengths and Liquidity, FDIC/JFSR 7th Annual Banking Conference, Washington, DC Run Lengths and Liquidity, CalPERS, Sacramento, CA Run Lengths and Liquidity, QWAFAFEW meetings, San Francisco, CA Implied Recovery, KMV Moodys, San Francisco, CA Hedging Credit: Equity Liquidity Matters, Bauer College of Business, University of Houston, Houston, TX Implied Recovery, Bauer College of Business, University of Houston, Houston, TX Run Lengths and Liquidity, Villanova School of Business, Villanova University, Villanova, PA 2006 Implied Recovery, Pacific Investment Management Company (PIMCO), Newport Beach, CA Villanova School of Business, Villanova University, Villanova, PA Implied Recovery, Standard & Poors Credit Congress, New York, NY FDIC/JFSR 6th Annual Banking Conference, Washington, DC Implied Recovery, Festschrift for Edward Altman. Stern School of Business, New York University, New York, NY Barclays Global Investors, San Francisco, CA Leavey School of Business, Santa Clara University, Santa Clara, CA 2004 Is there a dark side to incentive compensation?, Owen Graduate School of Management, Vanderbilt University, Nashville, TN 2001 The Value of Corporate Control: Some International Evidence, European Finance Association Meetings, Barcelona, Spain Teaching Graduate, Master of Business Administration Program Corporate Investing & Valuation (Villanova U.) Credit Markets & Valuation (Villanova U.) 2004 Introduction to Financial Management (Santa Clara U.) Graduate, Master of Science in Finance Program Financial Modeling (Villanova U.) 2006 Corporate Valuation (Villanova U.) 5

6 Undergraduate 2008 Fixed Income (Villanova U.) Principles of Corporate Finance (Villanova U.) 2004 Advanced Corporate Finance (Santa Clara U.) 2004 Introduction to Financial Management (Santa Clara U.) 2003 Introduction to Financial Management (Purdue U.) Professional Service Referee Annals of Finance European Journal of Finance Financial Review Journal of Banking and Finance Journal of Economics and Business Journal of Empirical Finance Journal of Financial Intermediation Journal of Financial Services Research Management Science Review of Accounting Studies Conference Organizer th Mid-Atlantic Research Conference in Finance, Villanova University (joint with Michael S. Pagano) th Mid-Atlantic Research Conference in Finance, Villanova University (joint with Michael S. Pagano) Discussions 2010 Purdue Finance Alumni Conference 2009 FDIC Workshop 2008 SFA Meetings, Key West, FL, (Program Committee) 2008 FMA Meetings, Dallas, TX, (Session Chair) 2007 Mid-Atlantic Research Conference, Villanova, PA 2006 Mid-Atlantic Research Conference, Villanova, PA 2005 FMA Meetings, Chicago, IL 2004 FMA Meetings, New Orleans, LA Honors & Awards Summer Research Award, Villanova University Summer Research Award, Villanova University 2004 Distinguished Teaching Award, Purdue University Teaching Excellence Award, Purdue University Robert W. Johnson Supplemental Award, Purdue University. 6

7 Professional Memberships American Finance Association Western Finance Association Financial Management Association European Finance Association Litigation Experience Valued private companies Analyzed credit risk for several debt instruments Analyzed damages in mutual fund market timing case Determined merger related antitrust concerns for a large bank Determined damages in several intellectual property infringement cases Determined damages in several class action securities Determined the cost of capital for a regulated utility for rate setting Media Citations Philadelphia Inquirer (2011) Indianapolis Star (2006) Denver Post (2006) Motley Fool (2006) Skills Languages: French Italian Statistical: SAS R Ox Matlab Programing: Python VBA Last updated: September 26, 2011 Paul Hanouna 7