|
Education
BS, business administration, economics, University of Oregon, 1958
MBA, accounting, statistics, University of California, Los Angeles, 1960
Ph.D., quantitative methods, University of California, Los Angeles, 1966
Positions Held
At Haas since 1969
1977 - 2002 Sylvan C. Coleman Professor of Finance and Accounting, Haas School of Business, UC Berkeley
1971 - 1977 Professor, Haas School of Business, UC Berkeley
1969 - 1971 Associate Professor, Haas School of Business, UC Berkeley
1967 - 1969 Assistant Professor of Administrative Sciences, Yale University
1966 - 1967 Assistant Professor of Business Administration, UCLA
1962 - 1963 CPA and Consultant, Arthur Young & Company, Certified Public Accountants
1960 - 1962 Staff Accountant, Arthur Young & Company, Certified Public Accountants
External Service and Assignments
- Member, board of directors, Laudus Rosenberg Mutual Funds
- Founding member: Society for the Promotion of Financial Studies
- Member, editorial board: China Accounting and Finance Review
- Member, International Advisory Board, Umea School of Business and Economics, Sweden (1999 - 2005)
- Member, Steering Committee, Financial Economists Roundtable (1998 - 2002)
- Program Chair, Financial Reporting Conference, San Francisco (1995-2000)
- Former consultant: to Bell Laboratories, RAND Corporation; businesses and professional firms
- Hoover Fellow, University of New South Wales, Sydney, Australia (1975)
- Former president, Western Finance Association
Current Research and Interests
- Dynamic portfolio strategies
- The welfare economics of financial markets
- Economics of Information
- Disclosure regulation and productive efficiency
- Financial reporting
Selected Papers and Publications
- "Applying Portfolio Change and Conditional Performance Measures: The Case of Industry Rotation via the Dynamic Investment Model" (with Robert Grauer), Review of Quantitative Finance and Accounting, 17, No. 3, (November 2001): 233-265
- "The Role of a Corporate Bond Market in an Economy and in Avoiding Crisis." China Accounting and Finance Review. 1, No. 1 (March 1999): 105-114 (Chinese Version 98-104); Summary in Japanese by Nomura Research Institute. Over 3300 full-text downloads as of January 2006.
- "Gains from Diversifying into Real Estate: Three Decades of Portfolio Returns Based on the Dynamic Investment Model," (with Robert Grauer). Real Estate Economics. 23 (Summer 1995): 117-159.
- "On the Feasibility of Automated Market Making by a Programmed Specialist," (with Avraham Beja and Jivendra Kale). The Journal of Finance. 40 (March 1985): 1-20.
- "To Pay or Not to Pay Dividends." The Journal of Finance. XXXVII (May 1982): 415-428; reprinted in summary form in The C.F.A. Digest. 13 (Summer 1983): 16-17.
- "Sufficient and Necessary Conditions for Information to Have Social Value in Pure Exchange," (with Gregory Kunkel and James Ohlson). The Journal of Finance. 37 (December 1982): 1169-1181.
- "Changes in the Financial Market: Welfare and Price Effects and the Basic Theorems of Value Conservation." The Journal of Finance. 37 (September 1982): 977-1004.
- "On Politics of Accounting Disclosure and Measurement: An Analysis of Economic Incentives." Journal of Accounting Research. 19 (Supplement 1981): 1-35.
- "The Purchasing Power Fund: A New Kind of Financial Intermediary," Financial Analysts Journal, 32, November-December 1976, 49-59.
- "Convergence to Isoelastic Utility and Policy in Multiperiod Portfolio Choice." Journal of Financial Economics. 1 (September 1974): 201-224.
- "Optimal Investment and Consumption Strategies Under Risk for a Class of Utility Functions." Econometrica. 38 (September 1970): 587-607; reprinted in Stochastic Optimization Models in Finance. (eds. W. T. Ziemba and R. G. Vickson), Academic Press, (1975): 525-545.
Teaching
- BA 237, Advanced Topics in Business Finance, Spring 2002
- BA 239, Investment Strategies and Risk Management, Spring 2002
- Financial Investment Technologies, Executive Program, 2002
Honors and Awards
- Honorary Doctorate (Oecon. dr. hon. c.), Stockholm School of Economics, 1984
- Member, Financial Economists Roundtable (1993 - 2003)
- Listed in Who's Who in Economics
- Fellow, Accounting Researchers International Association (since 1980)
- Graham and Dodd Scroll, 1982 (for article in Financial Analysts Journal)
- Graham and Dodd Scroll, 1976 (for article in Financial Analysts Journal)
- Earl F. Cheit Award for Excellence in Teaching (PhD Program), 1987
- National Science Foundation Research Grants, 1971-73, 1974-76
- Ford Foundation Fellowship, 1963-64, 1964-65, 1965-66
Problems? Contact www haas.berkeley.edu
Faculty Directory: Alphabetical Listing
Faculty Directory: Listing by Department
Top of page
Maintained by Haas School Marketing and Communications Office. Faculty members can contact us to update the page.
|
