Associate Professor of Finance
Joshua Green Family Endowed Professor
PhD, University of Chicago, 1993
MBA, Stanford University, 1985
MA, Stanford University, 1985
BA, Tufts University, 1981Specialties
International financePositions Held
At the University of Washington since 1992
Consultant for McKinsey & Company (1985-88)
Banker for Asia Division of Chemical Bank (1981-83)Current Research
International corporate finance (dividend policy, banking structure, initial public offers), pricing and efficiency of privatizations.Honors and Awards
Undergraduate Professor of the Year for Finance and Business Ecnomics (2008)
Andrew V. Smith Faculty Development Award (2006)
William A & Helen I. Fowler Endowment for Special Achievement/Recognition Award (2002)
Neal and Jan Dempsey Fellowship (2001-2, 2002-3)
Faculty, Young President's Organization Summer University (Venice) (2001)
Core Teaching Team of the Year for Spring (2000)
MBA Elective Professor of the Quarter for Spring (1998)
European Union Visitor's Program (1996)
Dean's International Research Award (1996)
Finalist for the Academy of International Business' R.N. Farmer Dissertation Award (1994)Selected Publications
'Firm Values and Sovereign Wealth Fund investments," with Xi Han and Paul Malatesta, Journal of Financial Economics, Vol. 98, No. 2, 2010, pp.256-278.
"State-Owned and Privately-Owned Firms: An Empirical Analysis of Profitability, Leverage, and Labor Intensity," with Paul Malatesta, The American Economic Review, Vol. 91, No. 1, 2001, pp. 320-334.
"Visibility versus Complexity in Business Groups: Evidence from Japanese Keiretsu Firms," with Walter Novaes and Richard Pettway, The Journal of Business, Vol. 74, No. 1, 2001, pp. 79-100.
"Dividends, Asymmetric Information and Agency Conflicts: Evidence from a Comparison of the Dividend Policiesof Japanese and US Firms," with Vincent Warther, The Journal of Finance, Vol. 53, No. 3, 1998, pp. 879-904.
"An International Comparison of Banks' Equity Returns," with Alan Hess, The Journal of Money, Credit, and Banking, Vol. 30, No. 3, Part 2, Aug. 1998.
"Public Offerings of State-Owned and Privately-Owned Enterprises: An International Comparison," with P. Malatesta, Journal of Finance, Vol. 52, No. 4, 1997.
"Does the Market React Differently to Domestic and Foreign Takeover Announcements? Evidence from the U.S. Chemical and Retail Industries," Journal of Financial Economics, Vol. 37, 1995.
"Do Exchange Rate Changes Drive Foreign Direct Investment?" Journal of Business, Vol. 68, No. 3, 1995.