Ali Nejadmalayeri, Ph.D., CFA

About

Ali Nejadmalayeri, Ph.D., CFA (or as his students call him "Dr. N") is a Full Professor of Finance and held the John A. Guthrie Endowed Chair in Banking and Financial Services (2018 - 2024) at the College of Business of the University of Wyoming (UW). He is also the John and Esther Clay Honors College Faculty Fellow (2022-2023) at UW's Honors College and teaches a multi-disciplinary course called "Secular Stock Cycle" as the intersection of demography, technology, and finance. Prior to joining UW, between 2015 and 2018, he held the ONEOK Chair in Finance at Spears School of Business of Oklahoma State University (OSU). Concurrently, he was also the finance Ph.D. program director. Between 2012 and 2015, he held the Jay and Fayenelle Helm Professor in Business at OSU. Before OSU, from 2001 to 2006, he was a finance professor, the finance area coordinator and student-managed fund advisor at the University of Nevada-Reno. He has taught a wide range of undergraduate and graduate (MBA and doctoral) finance courses on bank management, markets and institutions, portfolio management, investments, and corporate finance. He is currently teaching a unique course and writing a textbook on Blockchains, FinTech, and Digital Financial Services. His has been nominated numerous times for best teacher awards. In 2017, he won OSU's "Merrick Foundation Teaching Award on the American Free Enterprise System".

 

Nejadmalayeri has published in major finance and economics journals, including the Review of Finance, the Journal of Business, the Journal of Banking and Finance, the Journal of Corporate Finance, the Journal of Real Estate Finance and Economics, and the Journal of the Academy of Marketing Science. His research broadly deals with the intersection of corporate decisions and the capital (bond) markets. His research has been recognized with numerous awards and accolades including the "2016 OSU-Tulsa President's Outstanding Researcher of the Year" award and UW's "2022 Belt Buckle Award". He is a senior editor at Global Finance Journal (A-ranked), an editorial review board member at Multidisciplinary Business Review, and a special edition's editor at the Journal of Financial and Risk Management. He is an academic member of steering committee the Blockchain Governance Initiative Network (BGIN)—a multi-stakeholder organization of regulators, industry experts and academic scholars. And he served as a co-chair of the Decentralized Treasury Working Group of BGIN. He was the recipient of 2023 CBOE/MSCI grant to study inflation and volatility. And he was the recipient of 2023 CBOE/S&P Global grant to study the fixed income ecosystem at Chicago Board of Option Exchange (CBOE) – the world largest options market.

 

He has mentored students (at all levels of undergrad, master, and doctoral) during and after their schooling years. The cadre of his former students includes the founder of a bond trading firm, as well as executives from Amazon and Microsoft, the Bank of Oklahoma's chief risk officer, tenured professors, department heads, wealth managers, and state government officials. During the COVID-19 pandemic, he began a series of Fireside Chats with some of the most notable movers and shakers in finance, including governors of the Swiss National Bank, CEOs, and best-selling authors.

 

Nejadmalayeri holds a Bachelor of Science degree in Electrical Engineering from the University of Tehran, an M.B.A. degree from Texas A&M University and a Ph.D. in Finance from the University of Arizona. Prior to joining academia, he worked as an electrical engineer in the Oil and Gas industry. He has consulted with multinationals (Barclays Global) and local governments (the City of Tulsa).

 

Website

 

Education

PhD (2001), University of Arizona

MBA (1997), Texas A&M University-Kingsville

BSc (1993), University of Tehran

 

Research Interests

Corporate and Municipal Bonds, Taxation, Real Estate 

 

Teaching Interests

Banking, Financial Markets, Fixed Income

 

Refereed Publications

1. “Distressed Acquirers and the Bright Side of Financial Distress” with Aaron Rosenblum, 2022; International Review of Financial Analysis 83, 102303 [Scimago Q1; Impact Fac. 8.235 (5^th Highest); H-index 69] { https://doi.org/10.1016/j.irfa.2022.102303} 
2. “Real Asset Liquidity, Cash Holdings, and the Cost of Corporate Debt,” with Adam Usman 2022; Global Finance Journal 53, 100720 {https://doi.org/10.1016/j.gfj.2022.100720}  
   • Semifinalist nominee for Best Paper Award at FMA 2017 
3. “Corporate Cash Holdings, Agency Problems, and Economic Policy Uncertainty” with Mohsen Mollagholamali, Siamak Javadi, and Suad al-Thaqeb 2021; International Review of Financial Analysis 77, 101859 [Scimago Q1; Impact Fac. 8.235 (5^th Highest); H-index 69]{https://doi.org/10.1016/j.irfa.2021.101859} 
4. “Equity Short Interest and the Cost of Corporate Debt,” with Bilal Erturk, 2020, Multidisciplinary Business Review 
5. “Asset Liquidity, Business Risk, and Beta,” {Solo} 2021; Global Finance Journal 48, 100560. {https://doi.org/10.1016/j.gfj.2020.100560}  
   • SSRN’s Top Ten download list for ERN: Criteria for Decision-Making under Risk & Uncertainty  
   • Finalist nominee for Best Paper Award at FMA 2009 
6. “Demography, Asset Allocation, and Investment Horizon: Enduring Lessons from Long History,” {Solo} 2019, Journal of Investing 28 (4) 9-20 [Lead Article] {https://doi.org/10.3905/joi.2019.28.4.009} 
   • SSRN’s Top Ten download list for ERN: Consumption, Preferences, & Savings; Consumption; Saving (Consumption); History of Finance eJournal, Labor: Demographics & Economics of the Family eJournal; & PSN: Pensions & Retirement.  
7. “Do FOMC Actions Speak Loudly? Evidence from Corporate Bond Credit Spreads” with Siamak Javadi and Tim Krehbiel; 2018; Review of Finance 22 (5), 1877–1909. [FT50 List, Scimago Q1; SJR 4.933 (5^th Highest); Impact Fac. 4.653; H-index 61] {https://doi.org/10.1093/rof/rfx026} 
   • SSRN’s Top Ten download list for ERN: Monetary Policy  
8. “CEO Overconfidence and Agency Cost of Debt: Evidence from Voluntary Turnovers” with Subbu Iyer & Harikumar Sankaran; 2017 North American Journal of Economics and Finance 42, 300–313. {https://doi.org/10.1016/j.najef.2017.07.014}   
9. “Investor Sentiment, Diversification Discount, and Cross-Section of Returns,” with Joel Harper & Subbu Iyer; 2017 North American Journal of Economics and Finance 42, 218–236. {https://doi.org/10.1016/j.najef.2017.07.011} 
10. “Measuring Correlated Default Risk: A New Metric and Validity Tests,” with Siamak Javadi, Seoyoung Kim, and Tim Krehbiel; 2017 Journal of Fixed Income 27 (2) 6–29. {https://doi.org/10.3905/jfi.2017.27.2.006}    
    • Semifinalist for the best paper award at the 2016 FMA Asia Pacific Conference.  
11. “GASB Mandatory Disclosure Rules and Taxable Municipal Bond Yield Spreads,” with Sheri Faircloth, Jeanne Wendel, and Surya Chelikani, 2017; Review of Quantitative Finance and Accounting 49, 379–405. {https://link.springer.com/article/10.1007/s11156-016-0594-9} 
12. “Is there an optimally diversified conglomerate? Gleaning answers from capital markets,” with Subbu Iyer and Manohar Singh, 2017; Review of Quantitative Finance and Accounting 49, 117–158. {https://link.springer.com/article/10.1007/s11156-016-0585-x} 
13. “Costs of capital and public issuance choice,” with Christopher G. Lamoureux, 2015; Journal of Banking and Finance, 61, 27-45. {https://doi.org/10.1016/j.jbankfin.2015.08.028} 
14. “Do U.S. Macroeconomic Surprises Influences Equity Returns? An Exploratory Analysis of Developed Economies,” with Brian Lucey and Manohar Singh, 2013; Quarterly Review of Economics and Finance, 53, 476-485. {https://doi.org/10.1016/j.qref.2013.05.002} 
    • SSRN’s Top Ten download list for topics: ERN: Consumption; Saving (Consumption); Efficient Market Hypothesis Models; Other Econometric Modeling: International Financial Markets - Developed Markets; Other Econometric Modeling: International Financial Markets - Volatility & Financial Crises; Other Econometrics: Applied Econometric Modeling in Macroeconomics; Production; Productivity; FEN: Other International Corporate Finance; MME: Economic & Political Integration; PSN: Trade Relationships 
15. “Sarbanes-Oxley Act and Corporate Credit Spreads,” with Takeshi Nishikawa and Ramesh Rao, 2013; Journal of Banking and Finance, 37 (8), 2991-3006. {https://doi.org/10.1016/j.jbankfin.2013.04.013} 
16. “Product Market Advertising and Corporate Bonds,” with Manohar Singh and Ike Mathur, 2013; Journal of Corporate Finance, 19, 79–94. {https://doi.org/10.1016/j.jcorpfin.2012.10.002}  
17. “How Do Bond Investors Perceive Dividend Payouts?” with Ike Mathur, Manohar Singh, and Pornsit Jiraporn, 2013; Research in International Business and Finance, 27, 92–105. {https://doi.org/10.1016/j.ribaf.2012.07.001}  
18. “Corporate Governance and Lobbying Strategies,” with Manohar Singh, Ike Mathur, and Fred Thompson, 2013; Journal of Business Research, 66 (4), 547-553. {https://doi.org/10.1016/j.jbusres.2012.01.003 } 
    • Finalist nominee for Best Paper Award at FMA 2011 
19. “Corporate Taxes, Strategic Default, and Cost of Debt,” with Manohar Singh, 2012; Journal of Banking and Finance, 36, 2900– 2916. {https://doi.org/10.1016/j.jbankfin.2011.07.021}  
20. “Experience, Information Asymmetry and Rational Forecast Deviation,” with April Knill and Kristina Minnick, 2012; Review of Quantitative Finance and Accounting, 39(2), 241-272. {https://link.springer.com/article/10.1007/s11156-011-0252-1} Also, appeared as “Chapter 98” in Handbook of Financial Econometrics and Statistics, Springer 2013. 
21. “Managerial Compensation and the Choice between Intermediated and Arm’s Length Debt,” with Susan Albring, Inder Khurana and Raynolde Pereira, 2011; Journal of Corporate Finance, 17, 1445– 1456. {https://doi.org/10.1016/j.jcorpfin.2011.08.003} 
    • SSRN’s Top Ten download list for ORG: Rationality, Cognition, & Decision Making 
22. “Wages, Inflation, and Mortgage Design,” {Solo} 2011; Journal of Economics and Business: Special Issue on Financial Crisis, 63, 503– 516. {https://doi.org/10.1016/j.jeconbus.2010.06.001} 
23. “Macroeconomic News and Risk Factor Innovations,” with Tom Gosnell, 2010; Managerial Finance, 36 (7), 566-582. {https://doi.org/10.1108/03074351011050316} 
24. “Performance Impact of Business Diversification Strategy Evidence from the Indian Corporate Sector,” with Ike Mathur and Manohar Singh, 2007; Journal of Business Research, 60 (4), 339 - 347. {https://doi.org/10.1016/j.jbusres.2006.10.024} 
25. “Selective Hedging, Information Asymmetry and Futures Prices,” with April Knill and Kristina Minnick, 2006; Journal of Business, 79 (6), 1475 - 1501. {https://doi.org/10.1086/500682} 
26. “Capital Market Impact of Product Marketing Strategy: Evidence from the Relationship Between Advertising Expenses and Cost of Capital,” with Sheri Faircloth and Manohar Singh, 2005; Journal of the Academy of Marketing Science: Special Issue on Marketing/Finance Interface, 33 (4), 432-444. {https://link.springer.com/article/10.1177/0092070305277380} 
27. “Factors Influencing Interest Rates on Delinquent Property Tax Certificates,” with Tim Allen and Sheri Faircloth, 2004; Journal of Real Estate Finance and Economics, 28 (1), 19-36. {https://link.springer.com/article/10.1023/A:1026321506236} 
28. “Internationalization, Capital Structure and Cost of Capital: Evidence from French Corporations,” with Manohar Singh, 2004; Journal of Multinational Financial Management, 14 (2), 153-169. {https://doi.org/10.1016/j.mulfin.2003.07.003}

 

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