Steven R. Ferraro, PhD

Associate Professor of Finance


Education

Louisiana State University
Finance 1991-1993
Ph.D Business (Finance)

Arizona State University
Finance 1989-1991

Brigham Young University
Bus. Admin. 1987-1989 MBA

University of Utah
Spanish 1984-1986 BA


CURRENT POSITION

Associate Professor of Finance: MBA introductory finance courses and electives in mergers and acquisitions, business valuation, and portfolio management comprise current teaching duties.

Past teaching experience includes introductory finance courses for undergraduates and financial statement analysis, working capital management, strategic financial management and banking courses for MBA students.

Owner and Principal – Ferraro Capital Management (FCM): FCM is a value-based capital management firm providing its clients with investment and capital management services in segregated accounts. (ferrarocapital.com)

Owner and Principal – Center for Valuation Studies (CFVS): CFVS provides valuation, financial advisory services, and expert witness services to entrepreneurs, business owners, investors, and those who advise them. (valuationstudies.com)

 

PUBLICATIONS (in refereed journals)

"An Initial Examination of Seasonality in Foreign Exchange Markets" The Journal of Global Business Issues, Vol.3 Issue 2, August/September 2009 With R.W. Powell

"Applicability of Rosenberg's Beta Factor Decomposition Analysis to the Construction of a Growth Stock Portfolio within the Standard & Poor's 1500 Index" The Journal of Global Business Issues, Vol.1, Issue 2, Summer 2007 with D.J. Stanley and M. D. Kinsman

"The Investment Value of Analysts' Recommendations: Evidence from the Dartboard Contest,"

Managerial Finance 2000, Vol. 26, No. 6 with D. J. Stanley

"Asset Sales: Restructuring, Financing, or an Agency Problem,"

Advances In Financial Economics, Vol. 4, Privatization: Financial Perspectives 1999, with M. B. Slovin and M. E. Sushka

"A Comparison of the Information Conveyed by Equity Carve-outs, Spin-offs, and Asset Sell-offs,"

Journal of Financial Economics 37 (1995) 89-104, with M. B. Slovin and M. E. Sushka.

PUBLICATIONS (in practitioner oriented publications)

"The Buffett Approach to Valuing Stocks" Graziadio Business Report, Vol. 12 No. 3, 2009 "Investing for Income in a Down Economy" Graziadio Business Report, Vol. 12 No. 2, 2009 "Recognize the True Cost of Compensation: Expensing Options Increases Transparency in Financial

Reporting" Graziadio Business Report, Vol. 6 No. 1, 2003

"Who is Driving American Firms? Directors Facing New Responsibilities" Graziadio Business Report,

Summer 2002 with Linnea McCord

"NYCB: An Illustration of Value Creation" The Bridge (a publication of H. Roark Investment Bank – circulation approximately 1000 small and micro cap publicly traded companies), Vol. II No. 2 March-April 2002

"Strategic Options in the Commercial Banking Industry" The Bridge (a publication of H. Roark Investment Bank – circulation approximately 1000 small and micro cap publicly traded companies), Vol. I No. 4 October 2001

"Nonfinancial Performance: Research Shows "The Story" Can Mean More than the Numbers"

The Bridge (a publication of H. Roark Investment Bank – circulation approximately 1000 small and micro cap publicly traded companies), Vol. I No. 3 September 2001 (The lead article)

"The Information Gap: How "Asymmetric Information" Keeps Your Company Valued at Less Than it's Worth" The Bridge (a publication of H. Roark Investment Bank – circulation approximately 1000 small and micro cap publicly traded companies), Vol. I No. 2 August 2001 (The lead article)

"Does Size Matter? It Does for Small Firms! The Bridge (a publication of H. Roark Investment Bank – circulation approximately 1000 small and micro cap publicly traded companies), Vol. I No. 1 July 2001 (The lead article)

"Managing Earnings...Or Cooking the Books: How Firms Make the Numbers with Creative Accounting" Graziadio Business Report, Summer 2000 with Chuck McPeak

"Conversation with Wayne "Buzz" Knyal Graziadio Business Report, Spring 1999 with D.J Stanley

"Retirement Call to Action: Responsibility Rests on Baby Boomers" Graziadio Business Report, Fall 1998 with D.J Stanley and Owen P. Hall

PUBLICATIONS (Educational Market)

"Financial Statement Analysis" (Text book used in the CFA review courses taught by the Schweser Institute) Published by The Schweser Institute, 2004 Contributing Author

CFA (Charted Financial Analyst) Review Texts – Kaplan Schweser, 2002 – 2005.

Notes were created and edited for Level 1, Level 2, and Level 3 topics including but not limited to: Ethics and professional standards, macro economics, micro economics, financial statement analysis, corporate finance, asset valuation, capital markets, portfolio management, derivative securities, industry analysis, and fixed income investing.

CFA (Charted Financial Analyst) Review Texts – Allen Resources, 2000 – 2002.

Notes were created and edited for Level 1 topics including but not limited to: Ethics and professional standards, macro economics, micro economics, financial statement analysis, corporate finance, asset valuation, capital markets and portfolio management.

 

PROCEEDINGS

"The Long-run Return to Equity Carve-outs," Western Decision Sciences Institute - 28th Annual Meeting, Puerto Vallarta, Mexico April 1999. Co-author: D.J. Stanley

"Investor's Business Daily and the Efficient Market Hypothesis,"Western Decision Sciences Institute - 28th Annual Meeting, Puerto Vallarta, Mexico, April 1999. Co-author: D.J. Stanley

"The New DJIA and Component Price Momentum" Western Decision Sciences Institute - 27th Annual Meeting, Reno, NV, April 1998. Co-author: D.J. Stanley

"The Relationship of Share Repurchases and Stock Price Performance" Western Decision Sciences Institute - 27th Annual Meeting, Reno, NV, April 1998. Co-author: D.J. Stanley

"Personal Financial Literacy: A Multi-Discipline Approach", Society of Educators and Scholars - 21st Annual Meeting, LA, CA, March 1998. Co-authors: O. P. Hall, Jr., and D.J. Stanley

 

PAPERS IN PROGRESS

"The Use of Takeover Defenses by Real Estate Investment Trusts (REITS)," Co-authors: J. Broussard and A. Park

"The Risk Management Practices of Real Estate Investment Trusts (REITS),"

"Sector Concentration, Geographic Concentration, and Capital Structure Choices in Real Estate Investment Trusts (REITS),"

"Asset Sales and Purchases as a Takeover Defense," Co-author: J. Broussard

 

PAPERS PRESENTED IN PROFESSIONAL FORUMS

"Discounts Applied to the Valuation Process," Wealth Strategies Counsel Boot Camp, Irvine, CA, June 2008

"Capital Structure Decisions for Start-up Firms," Finnish Entrepreneurs, West Los Angeles, CA May 2002

"The Long-run Return to Equity Carve-outs," Western Decision Sciences Institute, April 1999 "The Relationship of Share Repurchases and Stock Price Performance," Western Decision Sciences

Institute, April 1998

"Personal Financial Literacy: A Multi-Discipline Approach," Society of Educators and Scholars, March 1998

"Asset Sales and Purchases as a Takeover Defense,"Brigham Young University, January 1998 "The Valuation Effects of Large Asset Sales," Presented at Brigham Young University, July 1996

"Capital Markets, the Business Cycle, and Merger Activity." Presented at Pepperdine University, May 1996

"Corporate Restructuring and the Information Hypothesis: An Empirical Analysis," Louisiana State University, March 1993

"The Signal Content of Going Public Decisions," Pepperdine University, November 1992

"The Signal Content of Going Public Decisions," Financial Management Association, October 1992

 

ADMINISTRATION

Personnel Committee 1999-present

Howard A. White Teaching Award Search Committee 2008

Dean's Search Committee 2001 - 2002

MBA Curriculum Committee 1998-2000

Malibu Policy Committee 1997-2000

Malibu Curriculum Committee 1996-2000

BSM/MBA Admissions Committee 1993-1998

Electronic Journal Committee 1997-1998

Library Committee 1997-1998

AACSB Intellectual Contributions Committee 1995-1999

Malibu Curriculum Committee - Discipline Liaison Spring 1996

Director Advisory Committee 1995-1997

Petitions Committee 1995-1996

Business Management Simulation Committee 1993-1995

 

PROFESSIONAL SERVICE

Ad Hoc Review
Graziadio Business Report 1998 - present

Education Chair
Orange County Society of Investment 2001-2003

Managers (OCSIM) BOD
Ad Hoc Reviewer
Financial Management (FMA) 1998

Discussant
Western Decision Sciences Institute 1998

Ad Hoc Reviewer
Journal of Business and Management 1997

Discussant
Financial Management Association 1996

Ad Hoc Reviewer
Midwest Finance Association 1995


EXPERIENCE

Ferraro Capital Management 2008-present
The Center for Valuation Studies 2007-present
H. Roark Investment Bank (Principal) 2001-2002
Consultant 1988-2007
Associate Professor of Finance, Pepperdine University 2000 - present
Assistant Professor of Finance, Pepperdine University, 1993- 2000
Research Assistant to Prof. Myron Slovin, Louisiana State University, 1991-1993
Research Assistant to Prof. Marie Sushka, Arizona State University, 1989-1991

HONORS AND AWARDS

Howard A. White Teaching Award Winner 2007 Howard A. White Teaching Award – Finalist 2006

Howard A. White Teaching Award – Finalist 2005 Current member, Golden Key National Honor Society

Academic Scholarship - Arizona State University 1989-1991 Academic Scholarship - Brigham Young University 1988-1989 Graduated Cum Laude - University of Utah 1986

Honors at Entrance Scholarship - University of Utah 1984-1985

REFERENCES

Professor Myron B. Slovin Professor John L. Glascock

Premier Bank/Chuck McCoy Distinguished Department of Finance and Real Estate Professor of Financial Institutions College of Business

Department of Finance University of Cincinnati

College of Business Administration 402 Carl H. Lindner Hall

Louisiana State University 2925 Campus Green Drive

Baton Rouge, La. 70803-6308 PO Box 210195

(504) 388-6260 Cincinnati, Ohio 45221-0195

(513) 556-7070

Professor Marie Sushka

Department of Finance, College of Business Arizona State University

Tempe, Arizona 85287

(602) 965-6581