Global Finance Association


Craig Fellow & Professor, Craig School of Business–California State Univ.-Fresno	1986 -
Coordinator, International Business Option, Craig School of Business	2006-
Visiting Professor, University of Business & Technology, Pristina, Kosovo. Taught an executive MBA course in Corporate Financial Management	07/2005
Visiting Professor, California State East Bay and Russia's Academy of Economics, Moscow – Taught two EMBA courses in Corporate & International Finance	07/2005 01/2001
Visiting Professor, Harvard University, Cambridge, Massachusetts	1993-99
Associate Professor, Franklin University, Columbus, Ohio	1982-86
Lecturer, College of Business, The Ohio State University, Columbus, Ohio	1983-86
Assistant Professor, Ahwaz University, Ahwaz, Iran	1979-80
Teaching Associate, The Ohio State University, Columbus, Ohio.	1977-79
Research Associate, School of Business, George Washington University	1976-77


Director, Graduate Business Programs, Craig School of Business – CSUF	1989-1992
Chair, Committee on Graduate Programs, Craig School of Business	2004-2006
Member, Faculty Executive Committee, Craig School of Business	2000-2003
Member, e-Business Task Force, Craig School of Business	1999-2002
Member, Administrative Council, Craig School of Business	1989-1992
Chair, Committee on Faculty, Craig School of Business	1994-1996
Chair, Board on Research, Craig School Business	2000-2002
Chair, Committee on Graduate Programs & Research, Craig School of Business	1992-1996
Member, University General Ed Task Force – Developed two Business Courses	1998-2000
Member, International Advisory Board, Craig School of Business	1987-
Member, Committee on Graduate Programs & Research, Craig School of Business	1988-2006

Authored or co-authored 75+ articles and books that have been published in leading journals and other publications including the International Journal Finance, Journal of Financial Research, Journal of International Business Studies, Journal of Managerial Finance, Global Finance Journal, American Business Review, and Journal of Product and Brand Management; Praeger Publishing, Harvard University Printing-Publishing Services, McGraw-Hill Publishing, and Premier Publishing Corporation.

Founded the Global Finance Journal (1989) and, as Editor, turned it into a leading refereed publication worldwide with an acceptance rate of 15%; the GFJ's editorial board is the 'Who's Who' in Global Finance. Over 300 articles have been published in Volume 1-17.

Editorial Board Member: The American Business Review, International Journal of Finance, the International Journal of Business and Journal of Risk and Financial Management.

Founded the Global Finance Association - Conference in 1994. The past 13th Conferences, sponsored by more than 200+ institutions, have brought together hundreds of leading scholars and practitioners representing 300+ institutions worldwide. The Nobel Laureates and prominent scholars and executives have been featured speakers at GFC meetings. The 2005 GFC was held in Dublin, Ireland. The 2006 GFC was held in Rio, Brazil. The 2007 GFC will be held in Melbourne, Australia <www.gfc2007.org>.

Publications In Refereed Journals

“The Crowding Effects of Inward Foreign Direct Investment on Domestic Investment,” The International Journal of Finance, 2006.
“An extension of price improvement debate: The case of American Depository Receipts,” the Global Finance Journal, V16/3; 3/2006; pp. 317-329;(with Nikbakht).
"Risk Premium, Changes in Spot Exchange Rates, Real Interest Rates, and Expectation," The International Journal of Finance, 2004.
"Global Financial Economics Challenges for the New Millennium," The Global Finance Journal, Volume 9, no.1, pp.1-5, 1998.
"Brand Equity Valuation: A Global Perspective," Journal of Product and Brand Management, Volume 12, no. 7, pp. 63-76, 1998.
"The Application of Foreign Exchange Forecasting Models to U.S. Dollar and Mexican Peso, Global Finance Journal, Vol. 8, no. 2, pp. 67-79, Summer 1997.
"Pricing Financial Times-Stock Exchange Index Warrants," American Business Review, Volume 22, No. 2, pp. 44-51, July, 1997.
"Pricing Nikkei Call Warrants: Some Empirical Evidence," (w/ K.C. Chen and S. Sears), Financial Markets & Economic Integration in Asia, pp.151-164, 3/1994.
"The Impact of Foreign Currency Fluctuations on Manufacturing," The Journal of Industrial Management Institute (Tadbir), Vol. 10, no11., pp. 3-7, 55-58, 1/1994.
"Official and Black Market Foreign Exchange Rates: An Empirical Study of Causality," Global Finance Journal, Vol. 4, No. 2, pp. 52-64, fall 1994.
"Pricing Nikkei Put Warrants: Some Empirical Evidence," (with K.C. Chen and Steven Sears), Journal of Financial Research, pp. 75-83, March 1992.
"LP: An Expert System for Purchase versus Lease Decision," (with Rafael Solis), Journal of Managerial Finance, Vol. 15, No. 5, pp. 43-51, 1989.
"Market Imperfections and the Cost of Capital," (with K.C. Chen), Journal of Managerial Finance, vol. 15, No. 3, pp. 24-35, 1989.
"Third World Debt and the Stability of Global Financial System," Valley Business Perspectives, Vol. 13, No. 2, pp. 52-59, Summer 1988.
"Preparing Your Products for International Markets," Valley Business Perspectives, Vol. 12, No. 3, pp. 34-44, Fall 1987.
"International Trade: Basics of Exporting", Valley Business Perspectives, Vol.13, No.1, pp. 17-26, Spring 1987.
"Foreign Direct Investment in the U.S," The Columbus Business Journal, November 1984.

Proceedings Of Professional Meetings

“The Crowding Effects of Foreign Direct Investment on China's Domestic Investment,” Proceedings of the 16th Annual Asian Pacific Conference on International Accounting Issues, Soul, South Korea, November 7-10, 2004.
"Volatility of International Financial Markets: Regulation and Financial Supervision," Keynote Address: IV International Conference in Finance, Viña del Mar, Chile, 1/2004.
Islamic Banking and Finance, (with Riad Ajami), the 10th Annual Meetings of the Global Finance Conference, June 17-19, 2003, Frankfurt, Germany
The Impact of Information Technology on Financial Industry, 9th Annual Meetings of the Global Finance Conference, May 29-30, 2002, Beijing, China.
"Effective Research & Publications Strategies," KMPH Ph.D. Project, Financial Management Association, October 15-17, 2001, San Antonio, Texas
“E-Finance, E-Capital, and E-Investing: The Role of Capital in the E-Business,” the 8th Global Finance Conference, Los Angeles, CA, April 4-7, 2001.
"European Monetary Union: From ERM to EURO," 10th Asian Pacific Conference on International Accounting Issues, Maui, Hawaii, October 25-28, 1998.
"Global Financial Accounting Issues in Measuring Brand Equity, "Asian-Pacific Conference on International Accounting Issues, Thailand, November 1997.
"Brand Equity Valuation, "Global Finance Conference, Montreal, May 1997.
"Cyberspace Marketing of Financial Services, "Global Finance Conference, Montreal, Canada, May 1997.
"The European Currency Unit in an Era of Global Financial Integration," Global Finance Conference, Honolulu, Hawaii, March 1996.
"Pricing Foreign Stock Index Warrants: The Case of the Financial Times-Stock Exchange 100 Share Index, " Transactions of the 1994 ACME International IV Conference, 8/1994.
"Pricing Financial Times-Stock Exchange Index Put Warrants: Some Empirical Evidence," Meeting of the Western Decision Science Institute, Hawaii, 1994.
"Regionalization and Globalization of Markets: Implications for Developing Nations," Industrial Management Institute Conference, January 1994.
"Micro-Computers And Teaching Finance Courses," (with Howard Whitney), Southwestern Finance Association, Houston, TX, March, 1987.
"Pricing Financial Times-Stock Exchange Index Put Warrants: Empirical Evidence," (with KC Chen & J. Wilson), Western Decision Science Institute, pp. 455-7, March 1994.
"Pricing Nikkei Call Warrants,"(w/ K.C. Chen & Steven Sears), 5th Asian-Pacific Conference on International Accounting Issues, pp.44-47; November 1993.
"Pricing Nikkei Put Warrants: Some Empirical Evidence," (with Chen and Steve Sears), Western Decision Science Institute, March 1992, pp. 143-145.
"Pricing Nikkei Put Warrants," (with Chen and Sears), 3rd Asia-Pacific Conference on International Accounting Issues, October 1991, pp. 181-184.
"Hedging Effectiveness of Eurodollar Futures Options," (w/KC Chen & T. Bloemhof), Asian-Pacific Conference on International Accounting Issues, Vancouver, Oct. 1990.
"An Empirical Analysis of Foreign Exchange Market Efficiency," (w/ Ali-Reza Tahai), Asian-Pacific Conference on International Accounting Issues, Fresno, October 1989.
"Foreign Currency Exposure Management: The Case of Small Business," Small Business Institute Directors Association, Washington, D.C., February 1989.
"Performance Evaluation of Venture Capital Companies,", Second National Meetings of Academy of Financial Services, New Orleans, LA, October 1988.
"Determinants of Exchange Rates: Theory & Evidence, "Operations Research Society of America/The Institute of Management Sciences, Denver, October 1988.

Participation/Presentations At Professional Meetings

Featured Speaker/Presenter: “China’s Financial Industry Challenges and Opportunities”, the WTO, Financial Engineering and Venture Capital, Hangzhou, China, Oct.15-17, 2006.
Program Co-Chair: The WTO, Financial Engineering and Venture Capital, Hangzhou, China, October 15-17, 2006.
Presenter: “BRICs: China Phenomenal Growth and Potentials for 2050,” the Global Finance Conference, Rio, Brazil, April 26-29, 2006.
Organizer: The 13th (2006) Global Finance Conference in Rio, Brazil, April 2006.
Organizer: The 12th (2005) GFC in Dublin, Ireland, June 2005.
Featured Speaker: The WTO and China’s Financial Industry: Challenges and Opportunities”, Annual Meeting of Westlake Expo in Hang Zhou, China, Nov. 5-7, 2004
“Budgeting for Success,” featured presenter at the Annual Meetings of the California Dietetic Association, April 22-24, 2004, Oakland Marriott.
Presenter: The Crowding Effects of FDI on China’s Domestic Investment, (with Cheng), the 2004 meetings of the Global Finance Conference–April 4-7, 2004, Las Vegas.
Organizer & Executive Director, Global Finance Association – 1994 - present
Program Committee, Financial Management Association Annual Meetings, New Orleans, LA, October 2004.
Organizer: The 11th Global Finance Conference, April 3-7, 2004, Las Vegas, NV
Organizer: The 10th Global Finance Conference, June 17-19, 2003, Frankfurt, Germany.
Organizer: The 9th Global Finance Conference, May 29-30, 2002, Beijing, China.
Organizer: The 8th Global Finance Conference, April 1-3, 2000, Los Angeles, CA.
Organizer: The 7th Global Finance Conference, April 19-21, 2000, Chicago, Ill.
Session Chair: "International Finance," The 10th Asian-Pacific Conference on International Accounting Issues, Maui, Hawaii, October 1998.
Panelist/Presenter: "Global Financial Economics Research," KMPH Ph.D. Project, Journal Editors' Panel, Financial Management Association, Chicago, Illinois, 10/1998.
Session Chair on "International Business Issues" The 9th Asian-Pacific Conference on International Accounting Issues, Bangkok, Thailand, 11/1997.
Panelist/Presenter: "Investing in Our Future," The KMPH Ph.D. Project, "Journal Editors' Panel," Financial Management Association, Honolulu, Hawaii, October 1997.
Presenter: "Impact of Entrepreneurial Decisions & Intangible Assets on Firm’s MVA," Academy of Entrepreneurial-Small Firm Finance, Honolulu, HI October 1997.
Presenter: "Venture Capital Markets - A Virtual Reality/Internet IPO," The Academy of Entrepreneurial Small Firm Finance Conference, Honolulu, Hawaii, October 1997.
Presenter: "International Business Education in 1990s & the New Century," CSB International Board, February 1996.
Presenter: "Beyond Borders," CSB - International Board, Fresno, October 1996.
Workshop Leader: "Investment Strategies," Chinese Executives, November 1996.
Presenter: "The European Single Currency," CSB Research Colloquium, March 1995.
Workshop/Seminar: "International Financial Systems: Implications for Developing Nations," Industrial Management Institute Conference, January 1994.
Workshop/Seminar: "GATT and The World Trade Organization: Membership Issues," Industrial Management Institute Conference, Tehran, Iran, January 1994.
Session Chair: International Business Issues, Third Annual Conference on Asian Pacific International Accounting Issues, Honolulu, Hawaii, October 1991.
Presenter: "Hedging Effectiveness of Eurodollar Futures Options," (w/Chen & Sears), Asian-Pacific Conference on Int'l Accounting Issues, Vancouver, October 1990.
Presenter: "International Business-Finance Issues," 2nd Conference on Asian Pacific International Accounting Issues, Vancouver, Canada, October 1990.
Presenter: "LP: An Expert System for Purchase versus Lease Decisions," (with Solis), Primer Congreso National Conference, Mexico City, Mexico, February, 1990.
Participant: the AACSB Conference on Executive MBA, San Antonio, TX 1990.
Participant: The Graduate Management Admission's MBA Fair, LA, CA, 1990.
Presenter: "An Empirical Analysis of Foreign Exchange Market Efficiency," (with Tahai), Asian-Pacific Conference on Int’l Accounting Issues, Fresno, CA, October 1989.
Presenter: "Convertibles & Corporate Capital Structure," (with Homaifar), Financial Management Association, Boston, Massachusetts, October, 1989.
Presenter: "Efficiency of FOREX: Robust Estimation Technique & Currency Forecasting," (w/Tahai), Financial Management Association, Boston, Mass., October 1989.
Discussant: "Exchange Rate Movements & Stock Returns of U.S. Commercial Banks,"M. Spirey & J. Harris, Financial Management Association. Boston, Mass, 10/1989.
Presenter: "Foreign Currency Exposure Management: The Case of Small Business," Small Business Institute Directors Association, Wash., D.C., 1989.
Discussant: "The Market for Corporate Control, Agency Costs and Corporate Collectivism in Japanese Mergers," Pettway, Southern Finance Association., San Antonio, Texas, November 1988.
Presenter: "Arbitrage Pricing Theory and Valuation of Index Options," (with KC Tseng), Southern Finance Association, San Antonio, TX, November 1988.
Discussant: "Investment Performance of Master Limited Partnerships," by: Kapplin et. Academy of Financial Services, New Orleans, LA, October 1988.
Presenter: "Performance Evaluation of Venture Capital Companies," (with Rassoul Yazdipour), Academy of Financial Services, New Orleans, LA, October 1988.
Presenter: "The Impacts of Calling Convertible Bonds on Stock Prices, " Financial Management Association, New Orleans, LA, October 1988.
Discussant: "A Multivariate Comparison of Financial Characteristics of U.S. and Japanese Manufacturing Firms," Meric/Meric, Financial Management Association, New Orleans, October 1988.
Chair/Presenter: "Topics in International Business," Operations Research Society of America (ORSA), and The Institute for Management Sciences, Denver, 10/1988.
Presenter: "Determinants of Exchange Rates: Theory and Evidence," National Meetings of ORSA/TIMS, Denver, CO, October 24, 1988.
Program Committee: International Symposium on "Business-Finance in LDCs Capital Markets," sponsored by RGK Foundation and Hofstra Univ., New York September 1988.
Presenter: "Convertible Calls and Stock Returns," Financial Management Association, Las Vegas, NV, October 1987.
Presenter: "Micro-Computers & Teaching Finance Courses," (with Howard Whitney), Southwestern Finance Association, Houston, Texas, March 1987.
Discussant: "A General International Financial Asset Portfolio Management Algorithm with Application to Industrial Country Market," Academy of International Business, Chicago, November 1987.
Presenter: Conference Coordinator: Going International: A Market Perspective," by California State Univ. & Fresno Chamber of Commerce, November 1987.
Presenter: Application of Micro-Computers to Financial Management," National Meetings of Financial Management Association, New York, NY, October 1986.
Discussant: "Proxy Contests and Corporate Reform," by T. K. Makherjee & Varela, Eastern Finance Association, Nashville, Tennessee, April 1986.
Presenter: "A Valuation Model for International Technology Licensing", National Meetings of The Academy of International Business, Cleveland, Ohio, October 1985.
Program Committee: Academy of International Business, Cleveland, Ohio, October 1985.

The Global Finance Journal (GFJ) and the Global Finance Conference (GFC) have provided me with unique opportunities to develop a network of over 500 finance and business professionals worldwide. Both the GFJ and the GFC provide forums and publications outlets for the dissemination of cutting-edge research studies in global financial economics. Visit the Global Finance website for detailed information www.gfc.csufresno.edu or www.glofin.org