Finance Faculty : William Maxwell, Ph.D.

	Associate Professor Richard & Tricia Calta Faculty Fellow
	Ph.D. in Finance, The George Washington University, 1998
	Phone:	520.621.1716
	Fax:	520.621.1261
	Email:	maxwell@eller.arizona.edu
	Office:	McClelland Hall, Room 315F

Curriculum Vitae

View or download CV in PDF format.

Current Courses

• FIN 421, Investments, Fall
• FIN 543, High-Yield Debt and Corporate Distress, Fall

Areas of Expertise

• Corporate finance
• Debt markets
• Corporate governance

Publications and Working Papers

• SSRN Link
  
  
• "Transparency and the Corporate Bond Market," with H. Bessembinder, Journal of Economic Perspectives, forthcoming.
• "A Reexamination of the Tradeoff Between the Future Benefit and Riskiness of R&D Increases," with A. Eberhart and A. Siddique, Journal of Accounting Research, 2008, v46n1, 27-52.
• "Corporate Governance and a Firm's Cash Holdings," with Jarrad Harford and Sattar Mansi, Journal of Financial Economics, 2008, v87n3, 535-555. 
• "The Influence of Product Market Dynamics on the Firm's Cash Holdings and Hedging Behavior," with David Haushalter and Sandy Klasa, Journal of Financial Economics, 2007, v84n3, 797-825.
• "Market Transparency, Liquidity Externalities, and Institutional Trading Costs in Corporate Bonds,” with Hendrik Bessembinder and Kumar Venkataraman, Journal of Financial Economics, 2006, Vol. 82, No. 2, 251-288.
• "Does Corporate Governance Matter to Bondholders?" with Mark Klock and Sattar Mansi, Journal of Financial and Quantitative Analysis, 2005, v40n4, 693-719, [Lead Article].
• "Does Auditor Quality and Tenure Matter to Investors?" Evidence from the Bond Market, with Sattar Mansi and Darius Miller, Journal of Accounting Research, 2004, v42n4, 755-793.
• "An Examination of Long-Term Abnormal Stock Returns and Operating Performance Following R&D Increases," with Allan Eberhart and Akhtar Siddique, Journal of Finance, 2004, v59n2, 623-650.
• "Do Spin-offs Expropriate Wealth from Bondholders?" with Ramesh Rao, Journal of Finance, 2003, v58n5, 2087-2108.
• "The Wealth Effects of Repurchases on Bondholders," with Clifford Stephens, Journal of Finance, 2003, v58n2, 895-919.
  
  
• Books:  High Yield Bonds:  Market Structure, Portfolio Management, and Credit Risk Modeling (with Theodore Barnhill and Mark Shenkman), McGraw-Hill, January, 1999.