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Degree Program University
Ph.D. Finance Rensselaer Polytechnic Institute
M.B.A. Finance, Strategy University of Northern Colorado
B.S. Engineering United States Military Academy

My Siena Experience

My Teaching Philosophy

 Mentorship and mutual respect.

What I Love About Siena

One of the reasons I love teaching at Siena is the small class sizes. I have the opportunity to really get to know my students. 

My Favorite Courses to Teach

My favorite course to teach is the finance capstone - Case Problems in Financial Management. The course is a comprehensive integrated experience for finance majors to put their knowledge into practice. Through case studies and computer simulations, students have an opportunity to use the finance tools and concepts in real-world situations. My favorite part of the course is when the student teams design and analyze a "live" case based on the current news. 

My Professional Experience

Year Title University
2019 - Now Professor of Finance Siena College
2018 - Now Director, Master of Business Administration program Siena College
2014 - 2018 Department Chair, Finance department Siena College
2007 - 2019 Associate Professor of Finance Siena College
2005 - 2007 Chair, Department of Management; Associate Professor of Finance The Sage Colleges
1999 - 2005 Clinical Assistant Professor of Finance Rensselaer Polytechnic Institute
1995 - 1999 Instructor in Finance Rensselaer Polytechnic Institute
1991 - 2001 Vice President and Senior Consultant Executive Systems Planning, Inc.
1987 - 1990 Administrator DeGraff Foy Law Firm
1982 - 1987 Commissioned Officer US Army Aviation

Current Research

Has taught in special executive programs in Russia and the Ukraine, as well as sessions for Korean and Chinese programs. While at Rensselaer Polytechnic Institute,received the Outstanding Faculty Award twice from the Delta Epsilon Sigma Management Honor Society. Has presented research at numerous regional, national and international conferences. Is published in the Journal of International Financial Markets, Institutions and Money, ITFA and IEMC Proceedings. Current research interests include issues in US and international banking, international capital markets, dividend policy of IPO companies, and entrepreneurial finance.

Articles & Book Reviews

  • Online TVM review and student performance
    Journal Of Financial Education, vol. 45
    June, 2019
  • Greenlane Holdings, Inc.: Valuing the IPO
    Financial Education Association
    2019
  • Warning signs of bank failure: evidence from 2009-2015
    Academy of Business Research
    March, 2017
  • Predicting US Bank Failures during 2009
    New York State Economics Association Annual Conference, vol. 7
    October, 2015
  • Incentive Compensation for Bank CEOs and CFOs Before and After the Financial Crisis
    Journal of Legal, Ethical and Regulatory Issues, vol. 17
    August, 2014
  • Characteristics of failed banks: the case of 3Q2009
    Allied Academies International Conference
    2013
  • Incentive Compensation for Bank CEOs and CFOs Before and After the Financial Crisis
    Allied Academies International Conference
    2013
  • G7 Equity Index Reaction to the 2008 Financial Crisis
    Journal of Economics and Economic Education Research, vol. 13
    January, 2012
  • G7 equity index reaction to the 2008 financial crisis
    Allied Academies International Conference
    2011
  • The impact of the recent financial crises and resulting regulations on bankers' incentive compensation
    New York State Economics Association Annual Conference
    2011
  • Characteristics of Successful and Failed Equipment Leases
    Midwest Finance Association Conference
    March, 2005
  • Risk Characteristics of Banks and Non-banks: An International Comparison
    Finanzdienstleistungsbereich-Symposium: Aktuelle Entwicklungen im Finanzdienstleistungsbereich
    May, 2004
  • Interest Rate and Exchange Rate Risk in Financial and Non-Financial Industries: An International Study
    Multi-National Finance Association
    August, 2003
  • The Wealth Effects of Global Acquisition Announcements of Canadian Banks.
    International Engineering Management Conference
    October, 2001
  • An analysis of global credit risk spreads during crises
    Managerial Finance, vol. 38
    Spring, 2012
  • Credit Risk: Contract Characteristics for Success
    Journal of Equipment Lease Financing, vol. 23
    Winter, 2005
  • Inventure Foods: Developing the Investment Thesis
    Journal of Finance Case Research, vol. 18
    Summer, 2018
  • The Stock Market Reaction to Cross-Border Acquisitions of Financial Services Firms: An Analysis of Canadian Banks
    Journal Of International Financial Markets, Institutions And Money, vol. 12
    Oct-Dec, 2002
  • The Water's Edge Apartments: Capital Budgeting in Real Estate Development
    Journal of Business Case Studies, vol. 6
    Nov/Dec, 2010

Awards & Distinctions

  • Outstanding Service Award
    Category: Service-University
    Siena College School of Business, 2016
  • Outstanding Teaching Award
    Category: Teaching
    Siena College School of Business, 2011
  • Lally School of Management & Technology, Rensselaer Polytechnic Institute 
    Category: Teaching
    Delta Epsilon Sigma Management Honor Society, 2005
  • Lally School of Management & Technology, Rensselaer Polytechnic Institute
    Category: Teaching
    Graduate Management Student Association, 2005
  • Lally School of Management & Technology, Rensselaer Polytechnic Institute
    Category: Teaching
    Delta Epsilon Sigma Management Honor Society, 1999
  • 'The Sensitivity of Canadian Stock Returns to Market, Interest Rate and Exchange Rate Changes' co-author Wolfgang Bessler. Selected as one of seven best papers at conference.
    Category: Other
    4th Global Finance Conference, 1997

Books & Book Chapters

  • The Impact of 9/11 on Business and Economics: The Business of Terror
    Palgrave Macmillan
    2009
  • Transparency, Governance, and Markets
    Elsevier Science
    2006
  • Banks and Financial Market Efficiency: Global Perspectives Research in Banking and Finance, Volume 5 (Research in Banking and Finance)
    JAI Press
    2004
  • International Business at the Turn of the Century
    International Trade and Finance Association
    2000

Presentations

  • Greenlane Holdings, Inc.: Valuing the IPO
    September, 2019
    Financial Education Association, Savannah, Georgia
  • A DuPont framework for analyzing commercial bank performance
    2018
    New York State Economics Association Annual Conference, Rochester, New York
  • Warning signs of bank failure: evidence from 2009-2015
    March, 2017
    Academy of Business Research, New Orleans, Louisiana
  • Does Bank Performance Change When Managers Are Paid Differently?
    February, 2016
    Eastern Economic Association Annual Conference, Washington, District of Columbia
  • Online TVM Review and Student Performance
    2016
    Financial Management Association International Annual Meeting, Las Vegas, Nevada
  • The Role of the Form of Managerial Compensation on Bank Performance
    October, 2015
    New York State Economics Association Annual Conference, Loudonville, New York
  • Using Online Tools to Review and Reinforce Prerequisite Skills in the Core Finance Course
    September, 2015
    Financial Education Association Conference, San Antonio, Texas
  • Determinants of bank failures during crisis
    October, 2014
    New York State Economics Association Annual Conference, Loudonville, New York
  • Program Assessment and the Role of the Bloomberg Assessment Test
    October, 2014
    New York State Economics Association Annual Conference, Loudonville, New York
  • Inventure Foods: Developing the Investment Thesis
    September, 2014
    Financial Education Association Conference, Savannah, Georgia
  • Another crashing wave: Characteristics of failed commercial banks during the Great Recession
    March, 2014
    Eastern Economic Association Annual Conference, Boston, Massachusetts
  • Characteristics of failed banks: the case of 3Q2009
    September, 2013
    Allied Academies International Conference, Internet Section, Virtual
  • The Bloomberg Assessment test: What is it, and can we use it for Program Assessment?
    September, 2013
    Academy of Business Education Annual Meeting, Southhampton, Bermuda
  • Incentive Compensation for Bank CEOs and CFOs Before and After the Financial Crisis
    2013
    Allied Academies International Conference, Internet Section, Virtual
  • Meeting the Challenge: Is Prior Performance a Predictor of Student Behavior?
    September, 2012
    Academy of Business Education Annual Meeting, Charlston, South Carolina
  • The Impact of the Recent Financial Crises and the Resulting Regulations on Bankers' Incentive Compensation
    March, 2012
    Eastern Economic Association Annual Conference, Boston, Massachusetts
  • Student Capstone Performance: Is Prior Performance a Predictor
    September, 2011
    Academy of Business Education Annual Meeting, Orlando, Florida
  • Credit risk during crises: A two-stage analysis of spreads in global debt markets
    April, 2011
    Eastern Finance Association Annual Meeting, Savannah, Georgia
  • Risk and return changes in global equity markets before, during and after the 2008 financial crisis
    February, 2011
    Eastern Economic Association Annual Conference, New York City, New York
  • G7 equity index reaction to 2008 financial crisis
    2011
    Allied Academies International Conference, Internet Conference, Virtual
  • The Impact of 9-11 Crisis on Debt Market Cointegration
    November, 2009
    Southern Finance Association Annual Meeting, Captiva Island, Florida
  • Characteristics of Successful and Failed Equipment Leases
    March, 2005
    Midwest Finance Association Conference, Milwaukee, Wisconsin
  • Risk Characteristics of Banks and Non-banks: An International Comparison
    May, 2004
    Finanzdienstleistungsbereich-Symposium: Aktuelle Entwicklungen im Finanzdienstleistungsbereich, Fachhocschule, Liechtenstein
  • Bank Mergers in South Korea: Does Government Intervention Add Value?
    April, 2004
    Eastern Finance Association Annual Meeting, Mystic, Connecticut
  • Dividend Policy of Bank Initial Public Offerings
    October, 2003
    Financial Management Association International Annual Meeting, Denver, Colorado
  • An International Study of the Risk Characteristics of Banks and Non-Banks
    June, 2003
    European Financial Management Association, Helsinki, Finland
  • An International Study of the Risk Characteristics of Banks and Non-Banks
    June, 2003
    Financial Management Association International European Conference, Dublin, Ireland
  • An International Study of the Risk Characteristics of Banks and Non-Banks
    June, 2003
    Multi-National Finance Association, Montreal, Canada
  • Dividend Policy of Bank Initial Public Offerings
    June, 2003
    European Financial Management Association, Helsinki, Finland
  • Dividend Policy of Bank Initial Public Offerings
    June, 2003
    Global Finance Association Conference, Frankfurt, Germany
  • Ther Performance Characteristics of Financial Holding Companies
    April, 2003
    Eastern Finance Association Annual Meeting, Lake Buena Vista, Florida
  • Dividend Policy of Bank Initial Public Offerings
    February, 2003
    Eastern Economic Association Annual Conference, New York, New York
  • Effects of Government Involvement in South Korean Commercial Bank Mergers
    February, 2003
    Eastern Economic Association Annual Conference, New York, New York
  • Cross-border Acquisitions of Financial Services Firms By Canadian Banks
    June, 2002
    European Financial Management Association, London, Great Britain
  • An International Study of the Risk Characteristics of Banks and Non-Banks
    March, 2002
    Midwest Finance Association Conference, Chicago, Illinois
  • Cross-Border Acquisitions of Financial Services Firms By Canadian Banks
    March, 2002
    Midwest Finance Association Conference, Chicago, Illinois
  • Dividend Policy of Bank Initial Public Offerings
    March, 2002
    Midwest Finance Association Conference, Chicago, Illinois
  • The Stock Market Reaction to Cross-Border Acquisitions of Financial Services Firms: An Analysis of Canadian Banks
    October, 2001
    Financial Management Association International Annual Meeting, Toronto, Canada
  • Stock Price Reaction to National and International Bank Merger Announcements on Canadian and Foreign Banks
    June, 2001
    Canadian Economics Association Annual Conference, Toronto, Canada
  • Contagion Effects Surrounding Canadian Bank Merger Announcements
    March, 2001
    Midwest Finance Association Conference, Cleveland, Ohio
  • The Stock Market Reaction to Merger Announcements Between Canadian Banks
    September, 2000
    Northern Finance Association Conference, Waterloo, Canada
  • Long/Short Term Interest Rate and Exchange Rate Risk: A Canadian Study
    January, 2000
    International Trade and Finance Association, Boston, Massachusetts
  • Non-Stationarity of Beta: The Case of Canadian Stocks
    July, 1999
    Multi-National Finance Association, Toronto, Canada
  • Time-Varying Risk Characteristics of Canadian Firms
    March, 1999
    Eastern Economic Association Annual Conference, Boston, Massachusetts
  • An International Study of the Risk of Characteristics of Banks and Non-Banks
    January, 1999
    International Trade and Finance Association, New York, New York
  • Industry Risk Characteristics: An International Comparison
    September, 1998
    Northern Finance Association Conference, Toronto, Canada
  • The Sensitivity of Canadian Stock Returns to Market, Interest Rate and Exchange Rate Changes
    May, 1997
    Global Finance Association Conference, Montreal, Canada
  • Interest Rate and Exchange Rate Sensitivity of Financial and Non-Financial Stocks in the Canadian Market
    April, 1997
    Eastern Finance Association Annual Meeting, Panama City, Florida
  • Risk Analysis for Banks Using Multifactor Models
    December, 1996
    Conference on Money, Finance, Banking & Insurance, Karlsruhe, Germany
  • The Sensitivity of Stock Returns to Market, Interest Rate and Exchange Rate Changes: Evidence from Canada
    October, 1996
    Northern Finance Association Conference, Quebec, Canada
  • Interest Rate and Exchange Rate Risk-An International View
    April, 1996
    Eastern Finance Association Annual Meeting, Charlotte, North Carolina
  • Interest Rate and Exchange Rate Risk-An International View
    March, 1996
    Eastern Economic Association Annual Conference, Boston, Massachusetts
  • Multi-Factor Pricing Models for Banks-An International Perspective
    October, 1995
    Atlantic Economic Conference, Williamsburg, Virginia