Experience in Higher Education

1998 - Present         Associate Professor of Economics, University of Maryland Baltimore County
                                    Affiliate faculty, Policy Sciences, University of Maryland Baltimore County
                                    Program Director, B.S. Program in Financial Economics

1991 - 1998               Assistant Professor of Economics, University of Maryland Baltimore County
                                    Affiliate faculty, Policy Sciences, University of Maryland Baltimore County

Spring 1995             Visiting Professor, College of Business and Management (MBA Program), University of Maryland College
                                    Park

Spring 1994             Adjunct  Professor, College of Business and Management (MBA Program), University of Maryland College
                                    Park
 

Experience Other Than Higher Education

1998 - 1999               Consultant for Gilbert-Sheppard Appraisal Group Inc. in commercial real estate appraisals

1995 - 1996               Research Associate with the Center for Education Research and Development (CERD) in its evaluation of the Education Alternatives Inc. contract with Baltimore Public School District

1994                            Instructor of course in Cost-Benefit Analysis and its Application for the Social Security Administration (with David Greenberg)

1985 - 1986               Medical Assistance Policy Administration (State of Maryland Medicaid), Research Analyst

1984                           American Petroleum Institute, Research Analyst
 

Recent Publications

Articles

"Handle with Care: Cost of Equity Estimation With the Discounted Dividend Model When Corporations Repurchase," Applied Financial Economics, 2001, V.11, 483-487.

"Valuation with the Discounted Dividend Model for Repurchasing Corporations: Theory and Application," in Advances in Financial Planning and Forecasting, C.F. Lee, editor, JAI, 2001, 37-47.

"Implementing and Interpreting Event Studies of Regulatory Changes," Journal of Economics and Business, 2001, V. 53, 171-183.

"Can PS 27 Turn a Profit? Provision of Public Education by For-Profit Suppliers," Contemporary Economic Policy, 2001, V. 19, 280-290.

"Estimating the Cost of Equity for Corporations that Repurchase: Theory and Application," Engineering Economist, 2001 V. 46, 53-63.

"New Results on Stock Prices and Fundamental Value," The Journal of Investing, 2001, V. 10, 67-69.

"Valuation with the Discounted Dividend Model When Corporations Repurchase," Financial Practice and Education, 2000, V.10, 252-255.

"School Choice," (with M. Mintrom) in Innovations in Education: Evaluating Alternative Systems, S. Hakim, J. Stull, and D. Ryan, eds., Praeger Publishers, 2000, 129-153.

"The Contracting Out of Instructional Services," in Innovations in Education: Evaluating Alternative Systems, S. Hakim, J. Stull, and D. Ryan, eds., Praeger Publishers, 2000, 209-227.

"Event Studies of Regulation and New Results on the Effect of the Cigarette Advertising Ban," Journal of Regulatory Economics, 1999, V. 16, 187-201.

"Social Science Research in School Finance Court Cases," Knowledge, Technology, and Policy, 1998, V. 11, 107-126.

"Attendance Revisited: A Reply to Borland and Howsen," Journal of Educational Research, 1998, V. 91, 198-200.

"School Choice in Theory and Practice: Taking Stock and Looking Ahead," (with M. Mintrom) Education Economics, 1997, V. 5, 211-244.

"Student Attendance as an Independent Variable in Education Production Functions: Evidence from Baltimore Public Elementary Schools," Journal of Educational Research, 1996, V. 89, 155-162.

"Testing for the Effect of School Size on Student Achievement Within a School District," Education Economics, 1995, V. 3, 33-42.

"Ex-Dividend Day Share Price Behavior: Effects of the Tax Reform Act of 1986," (with C. Hiemstra), Review of Economics and Statistics, 1993, V. 75, 778-783.

"Measuring the Market Response to Regulation of the Cable TV Industry," (with K. Carroll), Journal of Regulatory Economics, 1993, V. 5, 385-399.

"Shareholder Taxation and Aggregate Dividend Payout: Evidence from the Tax Reform Act of 1986," Review of Quantitative Finance and Accounting, 1993, V. 3, 459-468.

"The Welfare Effects of Monopoly Versus Competition: A Clarification of Textbook Presentations," Journal of Economic Education, 1992, V. 23, 247-254.

Articles Awaiting Publication

"New Estimates of the Equity risk Premium and Why We Need Them," Business Economics , in press.

Books

The Managerial Economics Reader, (Miami: Kolb Publishing Company), 1994.