ALI NEJADMALAYERI, PH.D., CFA Department of Finance Spears School of Business Oklahoma State University North Hall, Room 305 Tulsa, OK 74106 Tel: (918) 594-8399 Fax: (918) 594-8281 Email: ali.nejadmalayeri@okstate.edu Home Page: http://spears.okstate.edu/~nejadma SSRN Page: http://papers.ssrn.com/sol3/cf_dev/absbyauth.cfm?per_id=89750 Blog: http://finblogs.blogspot.com/ & http://drfinwiz.wordpress.com/ Education: University of Arizona Finance 2001 Ph.D. Texas A&M University Kingsville Business Finance 1997 M.B.A. University of Tehran Electrical Engineering 1993 B.Sc. Academic Experience: Oklahoma State University, Tulsa & Stillwater, 2006-present Assistant Professor of Finance Coached Spears School trading team for the Rotman International Trading Competition Taught a PhD seminar in investments; received excellent evaluations with scores being averaged at 4.0/4.0 Taught undergraduate level courses: portfolio management and risk management; received favorable evaluations with most recent scores being averaged at 3.80/4.0 Taught an MBA financial management level courses 3.38/4.0 Taught a finance course for Osher Life-long Learning Institute s program University of NEVADA, Reno, Reno, 2001-2006 Area Coordinator & Assistant Professor of Finance Area coordinator and Faculty advisor to the UNR student managed fund Taught undergraduate level courses: financial intermediaries, corporate finance, and portfolio management; received favorable evaluations with most recent scores being averaged at 4.3/5.0 Taught MBA level courses: financial management and portfolio management; received favorable evaluations with most recent scores being averaged at 4.75/5.0 Taught finance session of continuing education classes for entrepreneurs and managers University of ARIZONA, Tucson, 1996-2001 Graduate Teaching Associate Taught undergraduate level courses: corporate finance, investment, financial intermediaries, and risk management; received evaluations averaged at 4.2/5.0
Refereed Publications: "Wages, Inflation, and Mortgage Design", 2010; Journal of Economics and Business: Special Issue on Financial Crisis, forthcoming. "Macroeconomic News and Risk Factor Innovations" 2010, with Tom Gosnell, Managerial Finance, 36 (7), 566-582. "Performance Impact of Business Diversification Strategy Evidence from the Indian Corporate Sector", 2007, with Ike Mathur and Manohar Singh, Journal of Business Research, 60 (4), 339-347. "Selective Hedging, Information Asymmetry and Futures Prices" 2006, with April Knill and Kristina Minnick, Journal of Business, 79 (6), 1475-1501. "Capital Market Impact of Product Marketing Strategy: Evidence from the Relationship between Advertising Expenses and Cost of Capital", 2005, with Sheri Faircloth and Manohar Singh, Journal of the Academy of Marketing Science: Special Issue on Marketing/Finance Interface, 33 (4), 432-444. "Factors Influencing Interest Rates on Delinquent Property Tax Certificates", 2004, with Marcus Allen and Sheri Faircloth, Journal of Real Estate Finance and Economics, 28 (1), 19-36. "Internationalization, Capital Structure and Cost of Capital: Evidence from French Corporations", 2004, with Manohar Singh, Journal of Multinational Financial Management, 14 (2), 153-169. Working Papers under Review: "Impact of US Macroeconomic Surprises on Stock Market Returns in Developed Economies", with Brian Lucey and Manohar Singh, working paper, 2008; under the first round of review at the Journal of Economics and Finance [also SSRN's Top Ten download list for MME: Economic & Political Integration] "Capital Market Issuance and Public Issuance Choice", with Christopher Lamoureux, working paper, 2008; under the first round of review at the Quarterly Journal of Economics "Corporate Taxes, Strategic Default, and Cost of Debt ", working paper, 2010; under the first round of review at the Journal of Banking and Finance "Experience, Information Asymmetry and Rational Forecast Deviation ", with April Knill and Kristina Minnick, working paper, 2008; invited for second round of review after revisions at the Review of Quantitative Finance and Accounting "Product Market Advertising and Cost of Debt ", with Manohar Singh and Ike Mathur, working paper, 2008 under the first round of review at the Journal of Quantitative and Financial Analysis "Corporate governance and lobbying strategies", with Manohar Singh, Ike Mathur, and Fred Thompson, working paper, 2009 under the second round of review after revisions at the Journal of Business Research "Asset Liquidity, Business Risk, and Beta", with Antonio Camara, working paper, 2009; under the first round of review at the Financial Review [also SSRN's Top Ten download list for ERN: Criteria for Decision-Making under Risk & Uncertainty AND finalist for Best Paper Award at FMA 2009]. "Sarbanes-Oxley Act and Corporate Credit Spreads", with Takeshi Nishikawa and Ramesh Rao, working paper, 2009; under the first round of review at the Journal of Financial Economics
"Short Sale and the Cost of Debt", with Bilal Erturk, working paper, 2010; pending for submission to the Journal of Finance Working Papers and Work-in-Progresses: "Do Treasury Yields Still Effect on Corporate Bond Spreads?, with Manohar Singh,, work in progress, 2010 "Taxable Municipal Bonds and Public Pensions", work in progress, 2010 "Industry Competition and Credit Spreads", work in progress, 2009 "Business Diversification and Credit Spreads", with Subbu Iyer, work in progress, 2009 "Earning Attributes and Credit Spreads ", work in progress, 2009 "The Dark Side of Disclosure: Evidence from the Impact of GASB Change on Municipal Bonds", with Sheri Faircloth and Jeanne Wendel, work in progress, 2008 "Macroeconomic News and Industry Returns ", work in progress, 2007 "Managerial Compensation and the Choice between Intermediated and Arm s Length Debt" with Inder Khurana and Raynolde Pereira, work in progress, 2004 "What is the Relationships between Firm Ownership Structure and Board Representation? ", with Sheri Faircloth and Manohar Singh, working paper, 2004 "Information Precision and the Term Structure of Credit Spreads: An Empirical Examination" with Inder Khurana and Raynolde Pereira, working paper, 2003 "Credit Spread Clustering and Cross Sectional Credit Spread Deviations", formerly titled "The Determinants of Credit Spread Deviations", working paper, 2003 "Interest Rates, Taxes, Bankruptcy and Corporate Financing Decisions", working paper, 2001, SSRN's Top Ten download list for "Corporate Finance: Capital Structure & Payout Policies Recent Hits" "Dynamic Capital Structure and Stochastic Interest Rates", working paper, 2001, SSRN's Top Ten download list for "Corporate Finance: Capital Structure & Payout Policies Recent Hits" Other Publications: "Macroeconomic News and Risk Factor Innovations" 2009, with Tom Gosnell, Managerial finance, forthcoming. "Corporate Ownership Structure and Governance: Is There a Link?" with Sheri Faircloth and Manohar Singh, Journal of Academy of Finance, 2004, forthcoming. This paper also won the McGraw-Hill/Irwin Distinguished Paper Award. "Growth Annuity: Elixir of Sustainable Growth?" 2003, with Caroline Patrick, Journal of Academy of Business and Economics, 1 (1) pp. 193-196. "Inflation and Stock Returns: Which Inflation Measure Matters?", with Sheri Faircloth, Business Research Yearbook, 2003, 10, 324-328. "How Do Exchange Traded Funds Track Indices?", Business Research Yearbook, 2003, 10, 329-333. "Optimal Capital Structure with Taxes and Bankruptcy: Merton s (1974) Revisited", Proceedings of International Business and Economics Conference, 2003, Article 270 on CD. "Merton s (1974) with Stochastic Interest Rates", Proceedings of International Business and Economics Conference, 2003, Article 269 on CD. "Corporate Bond Pricing with Multifactor Interest Rates Models", Proceedings of International
Business and Economics Conference, 2003, Article 268 on CD. "Corporate Capital-Maturity Structure and Interest Rates", Proceedings of International Business and Economics Conference, 2002, Article 597 on CD. Professional Presentations: Financial Management Association Annual Meetings, 2009, "Asset Liquidity, Business Risk, and Beta ", with Antonio Camara. European Financial Management Association Annual Meetings, 2009, "Impact of US Macroeconomic Surprises on Stock Market Returns in Developed Economies", with Brian Lucey and Manohar Singh. University of Arkansas seminar series, 2009, "Sarbanes-Oxley Act and Corporate Credit Spreads " with Takeshi Nishikawa and Ramesh Rao. University of Arizona seminar series, 2009, "Sarbanes-Oxley Act and Corporate Credit Spreads" with Takeshi Nishikawa and Ramesh Rao. Financial Management Association Annual Meetings, 2008, "Macroeconomic News and Risk Factor Innovations" with Tom Gosnell. Financial Management Association Annual Meetings, 2008, " On the Impact of Advertising on Credit Spreads: Visibility vs. Efficacy " with Manohar Singh and Ike Mathur. Eastern Finance Association Annual Meetings, 2007, "Macroeconomic News and Risk Factor Innovations" with Tom Gosnell. China International Conference in Finance, 2007, " Firms' Choice of Public Issuance: A Structural Static Framework " with Chris Lamoureux. Southern Finance Association Annual Meetings, 2007, "On the Impact of Advertising on Credit Spreads: Visibility vs. Efficacy " with Mahonar Singh and Ike Mathur. Louisiana Tech University s seminar series, 2005, "Modeling Firms' Choice of Public Issuance". University of Arizona s seminar series, 2005, "Analyst Learning or Herding: Theory and Evidence". Midwest Business Administrating Association (MBAA), 2004, "Corporate Ownership Structure and Governance: Is There a Link?", winner of the McGraw-Hill/Irwin Distinguished Paper Award. 6th Annual Convention of the Strategic Management Forum in XLRI Jamshedpur, INDIA, 2004, "Performance Impact of Business Diversification Strategy Evidence from the Indian Corporate Sector". Southern Finance Association Annual Meetings, 2004, "Selective Hedging, Information Asymmetry and Futures Prices". Midwestern Finance Association Annual Meetings, 2004, "Selective Hedging, Information Asymmetry and Futures Price", and "Information Precision and the Term Structure of Credit Spreads: An Empirical Examination ". Southern Finance Association Annual Meetings, 2003, "Performance of Exchange Traded Funds: Where Art Thou Arbitrageur?". International Business and Economics Conference, 2003, "Optimal Capital Structure with Taxes and Bankruptcy: Merton s (1974) Revisited", "Merton s (1974) with Stochastic Interest Rates", and "Corporate Bond Pricing with Multifactor Interest Rates Models". Midwestern Finance Association Annual Meetings, 2003, "Dynamic Capital Structure and Stochastic Interest Rates", "The Determinants of Credit Spread Deviations", and "Internationalization, Capital Structure and Cost of Capital: Evidence from French
Corporations". International Academy of Business Disciplines, 2003, "How Do Exchange Traded Funds Track Indices?", and "Inflation and Stock Returns: Which Inflation Measure Matters?". Southern Finance Association Annual Meetings, 2002, "Dynamic Capital Structure and Stochastic Interest Rates" and "The Determinants of Credit Spread Deviations". International Business and Economics Conference, 2002, "Corporate Capital-Maturity Structure and Interest Rates". Washington Area Finance Association Annual Meetings, 2001, "Interest Rates, Taxes, Bankruptcy and Corporate Financing Decisions". Rutgers University, Current Concepts in Studies of the Capital Structure Conference, 2001, "Macroeconomics Conditions and Corporate Financing Decisions". Southern Finance Association Annual Meetings, 2001, "Macroeconomics Conditions and Corporate Financing Decisions". The University of Nevada, Reno, 2001, "Macroeconomics Conditions and Corporate Financing Decisions". Professional Services: Ad Hoc Referee for the Journal of Banking and Finance, 2001, 2002, 2004, 2009 Ad Hoc Referee Financial Management, 2007, 2009 Ad Hoc Referee for the Journal of Business Research, 2010 Ad Hoc Referee for the European Journal of Finance, 2005, 2007 Ad Hoc Referee for the Journal of Economic Behavior and Organization, 2003 Ad Hoc Referee for the Journal of the Academy of Marketing Science, 2003 Discussant at Financial Management Association Meetings 2003, 2007, 2009 Discussant at Midwestern Finance Association Annual Meetings 2002, 2004 Discussant at Southern Finance Association Annual Meetings 2001, 2002, 2007 Session Chair, Midwestern Finance Association Annual Meetings (2004) Session Chair, Southern Finance Association Annual Meetings (2001 and 2002) Session Chair, Financial Management Association Meetings 2003 Program Organizer, Financial Management Association Meetings 2007 Grants and Honors: Nominated for Greiner Outstanding Graduate Teaching Award 2009 McGraw-Hill/Irwin Distinguished Paper Award MBAA 2005 Nevada Alpha Chapter of BETA GAMMA SIGMA 2003 Researcher of the Year Award COBA Junior Faculty Summer Stipend Award, University of Nevada, Reno, 2003, 2004 GRS Scholarship, University of Arizona, 1996-2000 Sells-MBA Scholarship, Texas A&M University Kingsville, 1996 Delta Mu Delta Fellowship, Texas A&M University Kingsville, 1995 Service Appointments: Graduate Faculty Committee 2010 FMA Faculty Advisor, 2001 2010 MBA Executive Competition judge 2007
Research and Productivity Committee of the College of Business, 2001 2004 Curriculum Committee of the Department of Managerial Sciences, 2004 Bylaws Committee of the Managerial Sciences Department, 2001 2004 Faculty Evaluation Task Force, 2004 Industry Experience: JAHANPARS Construction Co., Tehran, IRAN, 1993-1995 Assistant Project Manager-Electrical/Instruments Division SCHLUMBERGER Wireless and Testing Inc., Dubai, UAE, 1993 Practical Trainee METRA Consultants, Tehran, IRAN, 1991-1992 Electronic Engineer