2015-16 MSF Annual Report
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William R. Hough MASTER OF SCIENCE IN FINANCE PROGRAM 2015 – 2016 Annual Report Letter from the Director PROGRAM July 1, ‘15 – June 30, ‘16 MSF Program Alumni and Friends, SUPPORT I hope that you are doing well. On behalf of $50,000 + current and future MSF students – thank you Ʌ Scott J. (BSBA ‘01) and Kara N. (BS ‘02) Friedman for your support of the program. $25,000 – $49,999 Ʌ M. Ann O’Brien (BSBA ‘78) The Class of 2016 is joining the alumni ranks as analysts in top firms. MSF Program $10,000 – $24,999 Ʌ Robert J. (MBA ‘95) and Deana M. Cousin students continue to thrive. Recognizing that Ʌ Steven B. (BSBA ‘03, MSF ‘04) and Kimberly B. DeRose any endeavor is most vulnerable after a long Ʌ Michael D. (BSBA ‘94) and Jill A. Smith period of success, much of our efforts this $5,000 – $9,999 Sean D. (BSBA ‘91, MBA ‘98) and Amy H. (BSR ‘93) Casterline past year were spent on that painful exercise Ʌ Ʌ Saul D. Goodman (BSBA ‘89) and Nathalie Rubens of looking for and finding blind spots. Ʌ Thomas A. (BSBA ‘80) and Zandra P. Horkan Ʌ Steven M. (BSBA ‘88, MBA ‘99) and Natalie E. Raney There are gaps in our graduates’ skill set. Ʌ Bradford W. (BSBA ‘89) and Laura B. (BSBA ‘89) Smithy Members of the MSF Class of 2006 with former professor, Ʌ Charles W. (BSAC ‘81) and Sylvia Uhrig Student focus on a narrow range of career Jason Karceski, PhD (2nd from left), while reuniting in Gainesville in September: Andrew Okoto, Sumeet Patel, opportunities gets in the way of a thoughtful $2,000 – $4,999 Donnie Sattar, and Nick Jansen (joined by his wife, Katie). examination of fit. Ʌ Daniel L. (BABA ‘03) and Lindsay Beiley Ʌ Ian P. Dawley (BSAC ‘11, MSF ‘12) Ʌ Desi A. DiPierro (BSAC ‘10, MSF ‘11) $1 – $499 We will roll out programs to address these Ʌ Richard B. (BSBA ‘81) and Terry J. England Ʌ Anonymous (MSF ‘12) Ʌ Thomas H. Ganey, Jr. (BSBA ‘11, MSF ‘13) blind spots during the coming academic year Ʌ Nicholas A. Alter (BSBA ‘13, MSF ‘14) Ʌ Ernest (MSF ‘05) Libershteyn and Natalie (BSBA ‘04, MSF ‘05) Liberstein Ʌ Davis M. Blank (MSF ‘12) Ʌ Meng Liu (BSAC ‘11, MSF ‘12) and feature them in the next annual report. Ʌ Alan Chao (MSF ‘04) Ʌ Krishna K. Memani (MA ‘82, MBA ‘84) Ʌ Sonia M. Chen (BSBA ‘13, MSF ‘14) Until then Ʌ Alejandro Piekarewicz (BSBA ‘07, MSF ‘08) Ʌ Jeremy M. Dale (BSBA ‘06, MSF ‘07) Ʌ Charles P. Yadon (MSF ‘13) Ʌ Christos Diamantopulos (BSBA ‘13, MSF ‘14) Ʌ Peter A. Zdebski (BSBA ‘09, MSF ‘10) Regards and thank you for your support. Ʌ Robert B. Drach (MSF ‘06) Ʌ Brett Gasaway (MSF ‘13) $500 – $1,999 Ʌ Bobby Griffin (MSF ‘13) Nicholas M. Jansen (BSBA ‘05, MSF ‘06) SFM Class of 2006 Group Gift Ʌ Ʌ Jason B. (BSISE ‘05, MSF ‘08) and Katherine Lazarus Ʌ W. Bryan (BSBA ‘03, MSF ‘04) and Erin G. Adams Ʌ Michelle R. Losey (BSBA ‘07, MSF ‘08) Ʌ Andrew Amend (BSBA ‘12, MSF ‘13) Ʌ Stephen C. McCall (BSBA ‘11, MSF ‘12) Ʌ Michael J. (MSF ‘07) and Lauren (BSBA ‘09) Andreas Ʌ Andrew M. O’Neil (MSF ‘12) Ʌ Randy (BSBA ‘82) and Sheryl E. Appleyard Ʌ Michael A. Pascual (BSBA ‘13, MSF ‘14) Ʌ Dominic F. Aquilina (BSBA ‘07, MSF ‘08) Ʌ Newton P. Porter Ʌ Mark P. Basford (BSBA ‘08, MSF ‘09) Ʌ Clark D. Reynolds (BSBA ‘11, MSF ‘13) Ʌ Casey B. Brown (BSBA ‘11, MSF ‘12) Ʌ Jocelyn F. Richardson (BSBA ‘11, MSF ‘12) Ʌ Brennan A. Bubp (BSA ‘04, MBA ‘10, MSF ‘12) Ʌ Jesse I. Rosenblum (BSBA ‘07, MSF ‘08) Ʌ Luis A. Carranza (BA ‘09, BS ‘09, MSF ‘11) and Lidia C. Lopez Ʌ Alan Salinas (MSF ‘13) Ʌ James T. (MSF ‘12) and Whitney Cook Ʌ Daniel S. (MSF ‘06) and Laura G. Sanborn Ʌ Philip C. Coover (BSBA ‘11, MSF ‘12) Ʌ Danyal A. Sattar (BSBA ‘04, MSF ‘06) Ʌ Kyle J. Deasy (BSBA ‘11, MSF ‘12) Ʌ Adam M. (BSBA ‘03, MSF ‘04) and Emily D. (BSBA ‘03) Schiff Ʌ Theodore R. Egers (BSBA ‘13, MSF ‘14) Ʌ Andrew S. (BSBA ‘10, MSF ‘11) and Melissa M. (BSBA ‘11) Winner Ʌ Eric A. Evans, Jr. (BSBA ‘12, MSF ‘13) Ʌ Brittany A. Wood (BSBA ‘14, MSF ‘15) Ʌ Francisco J. Fornell (MSF ‘11) Ʌ Bilal Yehia (MSF ‘13) Ʌ Christopher (MSF ‘11) and Elizabeth C. Grizzard Ʌ Mark A. Zebuoni (MSF ‘13) Ʌ Chris Hamm (BSBA ‘09, MSF ‘10) Ʌ Michael L. Hessney (BSBA ‘13, MSF ‘14) Ʌ Todd (BA ‘99, MSM ‘01, MSF ‘03) and Erin S. (BAE ‘00, MED ‘01) Huber Ʌ Bhavik R. Khatri (BSBA ‘11, MSF ‘12) Endowments Ʌ Kwan Hong Kim (BSAC ‘13, MSF ‘14) Ʌ William R. Hough MS Finance Program Endowment Ʌ Adam Kogler (MSF ’11) Ʌ James G. Richardson Lectureship Ʌ Ryan A. Lane (BSBA ‘11, MSF ‘12) Ʌ Betty W. Penter Memorial Scholarship Ʌ William A. Light (BSBA ‘10 and MSF ‘11) Ʌ BB&T Professorship in Free Enterprise Endowment Ʌ Joseph D. Mark (BSBA ‘12, MSF ‘13) and Andrea A. Vargas-Mark (BSME ‘13) Ʌ Troy & Julianne Davis Financial Markets Education Endowment Ʌ Jeffrey S. Masse (BSBA ‘13, MSF ‘14) Ʌ Scott & Kara Friedman Financial Education Endowment Ʌ Kevin A. Mesmer (BSBA ‘10, MSF ‘11) Ʌ M. Ann O’Brien Finance Professional Development Endowment Ʌ James G. Moorman (MBA ‘95) Ʌ Jared M. North (BSBA ‘08, MSF ‘09) and Shannon Street Gift Matching Ʌ Christopher A. Noth (MSF ‘07) Ʌ AT&T Ʌ MasterCard Ʌ Sumeet R. Patel (BSBA ‘05, MSF ‘06) Ʌ Bank of America Ʌ New York Life Foundation Ʌ Michael H. (BSBA ‘06, MSF ‘07) and Sarah M. (MSF ‘07) Peerson Foundation Ʌ Northwestern Mutual Ʌ Philip M. Reagan (MSF ‘08) Ʌ Barclays Capital Foundation Ʌ Sean M. (BSBA ‘07, MSF ‘08) and Samantha L. (BSAGE ‘09, MS ‘14) Riley Ʌ BlackRock, Inc. Ʌ OppenheimerFunds, Inc. Ʌ Mark J. Ruskin (BSAC ‘12, MSF ‘13) Ʌ Bloomberg L.P. Ʌ Raytheon Co. Ʌ Amandou M. Sarr (MSF ‘13) Ʌ BlueMountain Capital Ʌ RBC Foundation Management LLC Ʌ Courtnei A. Smith (BA ‘13, MSF ‘14) Ʌ Starwood Ʌ Delta Capital Management Ʌ Azer M. Songnaba (BSBA ‘08, MSF ‘09) Ʌ SunTrust Foundation Ʌ Goldman Sachs Group Ʌ Brenden M. Vickers (BSBA ‘10, MSF ‘11) Ʌ UBS Ʌ LNR Property LLC Ʌ Bradley S. (BSBA ‘03, MSF ‘04) and Ashley S. (BSADV ‘04) Widensky Ʌ Wells Fargo Foundation Ʌ Haiyan Wu (MSF ‘07) and Zhiwen Tang Ʌ Mark Zebouni (MSF ‘13) 2 2015 – 2016 Annual Report | warrington.ufl.edu/msf William R. Hough Master of Science in Finance Program | Warrington College of Business | University of Florida 3 ALUMNI FACULTY HIGHLIGHTS RECOGNITION Faculty & Department News The Finance department had a very productive research publication year with its faculty having multiple Outstanding Young accepted publications in the profession’s most prestigious scholarly journals, including the Journal of Alumni Award Finance, Journal of Financial Economics, Review of Financial Studies, Management Science, Journal of Money, Credit and Banking, and Journal of Banking and Finance. In April, Khristian Gutierrez (MSF ‘10), was awarded the 2016 Outstanding Young Alumni Award from the University of Florida. 1 David Brown 6 Jim Parrino Khristian is currently the Chief Business Presented at Nuclear UF Graduate Business Decommissioning Teacher of the Year Award Development Officer of Passport, a mobile Trust Fund payments company designed for parking 7 Jay Ritter 2 Mark Flannery and transit agencies, which he joined as Keynote speaker at Chief Economist at SEC several conferences a Managing Partner in 2011. Passport has around the world 1 2 3 4 including Argentina, 3 Joel Houston partnerships with major cities in North Canada, France, UF MBA Teaching Award Germany, India, Tunisia, America. Their partnership with the Toronto Turkey, Uruguay, US Parking Authority marks the largest 4 Chris James 8 municipal mobile payment deployment in Pembroke Visiting Scholar Mike Ryngaert at Cambridge University Visiting Scholar at North America. Università Cattolica del Sacro Cuore in Milan, Italy 5 Andy Naranjo Inducted as a Homer 5 6 7 8 Hoyt Fellow Jack D. & Betty L. Lampros Graduate Fellowship Fund Recipients Papers Ʌ Indicators of collateral misreporting Ʌ MSA geographic allocations, property selection, Chris James (with C. Demiroglu) and performance attribution in public and private real estate market returns forthcoming Management Science Andy Naranjo (with D. Ling and B. Scheick) Ʌ Capital-structure changes around IPOs forthcoming Real Estate Economics Chris James (with D. Evans) Ʌ Limited attention, marital events, and hedge funds forthcoming Critical Finance Review Sugata Ray (with Y. Lu and M. Teo) Ʌ Family feud: succession tournaments and Journal of Financial Economics risk-taking in Korean chaebols Jongsub Lee Ʌ Growth capital-backed IPOs Winner, Outstanding Paper Award, 11th Annual Jay Ritter Mid-Atlantic Research Conference (MARC) Winner, Editor’s Choice Best Paper Award for the best article in The Financial Review, 2015 Scott Barnett, MSF ‘16 Daniel Milstein, MSF ‘16 Alex Montgomery, MSF ‘16 Ʌ Exodus from sovereign risk: global asset and information Financial Review networks in the pricing of corporate credit risk Andy Naranjo and Jongsub Lee (with S. Sirmans) Ʌ Private equity firms’ reputational concerns Betty W. Penter Winner, 9th Shinhan Bank Best Paper Award, and and the costs of debt financing Memorial Wharton Research Data Services Best Empirical Jay Ritter (with R. Huang, and D. Zhang) Paper Award, Southern Finance Association Journal of Financial and Quantitative Analysis Scholarship forthcoming Journal of Finance Ʌ Pre-market trading and IPO pricing Recipients Ʌ Cloud computing spot pricing dynamics: Jay Ritter (with C.