Ronald W. Masulis
Frank K. Houston Professor of Finance
Subject Area(s):
Finance, Entrepreneurship
Biography:
Biography:
RONALD W. MASULIS, Frank K. Houston Professor of Finance. M.B.A., Ph.D., Chicago 1978.
Research interests include corporate finance, corporate governance, executive compensation, investment banking, and international finance. Professor Masulis teaches courses in mergers and acquisitions, law and finance of mergers & acquisitions and corporate finance at the PhD level. Masulis is chair of the Finance Ph.D. Program at Owen. He has served on the board of directors and the executive committee of the American Finance Association, Financial Management Association and the Western Finance Association. He has also been an associate editor of all four of the top finance journals. He currently serves an associate editor of the Journal of Financial and Quantitative Analysis and the Pacific Basin Finance Journal and is a referee for numerous other finance journals.
His recently published papers include "Corporate Governance and Acquirer Return" (with Cong Wang and Fie Xie), which studies the effects of various corporate governance mechanisms and especially takeover defenses, on the profitability of acquisitions was published in the August 2007 issue of the Journal of Finance. His paper, "Political Connections and Corporate Bailouts," (with Mara Faccio and John McConnell) which studies corporate bailout activity around the globe and the degree of association between corporate directors and large shareholders to important government officials, was published in the December 2006 issue of the Journal of Finance.
In the first three month of 2008, he presented “How Do Venture Investments by Different Classes of Financial Institutions Affect the Equity Underwriting Process?” at the American Economic Association Annual Meetings and at Yale University and “Strategic Alliances and Corporate Governance in Newly Public Firms: Evidence from Corporate Venture Capital” at the University of Connecticut. He presented Agency Costs at Dual Class Companies” at the Conference on Shareholder Rights, Shareholder Voting and Corporate Performance, Cagliari Italy.
In April, he presented “IPOs and Venture Capital Reputation” at York University, “Venture Capital Conflicts of Interest: Evidence from Acquisitions of Venture Backed Targets” at the University of Toronto and “Equity Ownership in IPO Issuers by Brokerage Firms and Analyst Research Coverage” at the University of Western Ontario in London, Ontario. Later in April, he presented “Strategic Alliances and Corporate Governance in Newly Public Firms: Evidence from Corporate Venture Capital” at the University of Amsterdam. He also presented three papers, “IPOs and Venture Capital Reputation”, “How Do Venture Investments by Different Classes of Financial Institutions Affect the Equity Underwriting Process?” and “Do Underwriters or Venture Capitalists Restrain Earnings Management by IPO Issuers?” at the EFM Symposium on IPOs at Oxford University. In May, he presented “IPOs and Venture Capital Reputation” at the University of Hawaii and was a Visiting Scholar for a week and again at Chinese University of Hong Kong where he was also a visiting scholar for a week. In addition, he presented “Strategic Alliances and Corporate Governance” at Hitotsubashi University (Tokyo).
This summer, he presented “Equity Ownership in IPO Issuers by Brokerage Firms and Analyst Research Coverage” at the Australian National University in Canberra and "Are All Inside Directors the Same? CEO Entrenchment or Board Enhancement” at Nanyang Technological University in Singapore. He also presented “How Do Venture Investments by Different Classes of Financial Institutions Affect the Equity Underwriting Process?” at the Financial Intermediation Research Society conference in Anchorage Alaska.
This Fall he presented “Agency Costs at Dual-class Companies” at the Cornell Law School Conference on Empirical Legal Studies “Are Foreign Directors Valuable Advisors or Ineffective Monitors?” and “How Do Venture Investments by Different Classes of Financial Institutions Affect the Equity Underwriting Process?” at the Financial Management Association Annual Meetings in Dallas.
Education:
B.A., Economics, Northeastern University, 1971
M.B.A., Economics and Finance, University of Chicago, 1974
Ph.D., Economics and Finance, University of Chicago, 1978
Course(s) Taught:
- MGT 636: Research Seminar in Corporate Finance
- MGT 530: Mergers and Acquisitions
- MGT 530c: Law & Finance of Mergers and Aquisitions
- MGT 531: Venture Capital/Private Equity
Research Interest(s):
Investment banking, corporate governance, mergers & acquisitions, venture capital, law & economics and international finance.
Area(s) of Expertise:
Corporate finance, security offerings, mergers, corporate governance, venture capital and private equity, international corporate finance and financial institutions.
Article(s):
Ronald W. Masulis, Journal of Financial Economics 8 (1980) 139-178. North-Holland Publishing Company
Ronald W. Masulis, The Journal of Finance, Vol. 35, No. 2, Papers and Proceedings Thirty-Eight Annual Meeting American Finance Association, Atlanta, Georgia, December 28-30, 1979 (May, 1980), 305-319.
Harry DeAngelo and Ronald W. Masulis, Journal of Financial Economics 8 (1980) 3-29. North-Holland Publishing Company
Dan Galai and Ronald W. Masulis, Journal of Financial Economics 3 (1976) 53-81. North-Holland Publishing Company
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