|
One Bernard Baruch Way Box B10-225 |
Armen
Hovakimian Department
of Economics and Finance Coordinator, PhD
Program in Finance Academic Director, Executive MS Programs in
Finance |
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Academic Interests
Corporate Finance, Corporate Financing Choices, Stock Returns and Corporate Financing Events, Corporate Investment Behavior, Corporate Valuation, Deposit Insurance, Financial Institutions
Education
Ph.D. (Finance), Boston College
MBA, American University of Armenia
BS (Computer Engineering), Yerevan Polytechnic Institute,
Full-time Academic Appointments
Professor, Baruch College, 2010
Associate Professor, Baruch
College, 2004
Assistant Professor, Baruch
College, 1998
"U.S. analyst regulation and the earnings forecast bias around the world." A. Hovakimian, E. Saenyasiri, European Financial Management, forthcoming.
"Are corporate default probabilities consistent with the static tradeoff theory?" A. Hovakimian, A. Kayhan, S. Titman, Review of Financial Studies, 2012, volume 25, No. 2, 315-340.
"Is the partial adjustment model a useful tool for capital structure research?” A. Hovakimian and G. Li, Review of Finance, 2012, volume 16, No. 3, 733-754.
"In search of conclusive evidence: How to test for adjustment to target capital structure.” A. Hovakimian and G. Li. Journal of Corporate Finance, volume 17, No. 1, 2011.
"Merger-motivated IPOs." A. Hovakimian and I. Hutton. Financial Management, volume 39, No. 4, 2010.
"Conflicts of interest and analyst behavior: Evidence from recent changes in regulation," A. Hovakimian and E. Saenyasiri. Financial Analysts Journal, volume 66, No. 4, 2010.
“Corporate financing activities and contrarian investment,” T. Bali, O. Demirtas, and A. Hovakimian. Review of Finance, volume 14, No. 3, 2010.
"Market feedback and equity issuance: Evidence from repeat equity issues." A. Hovakimian and I. Hutton. Journal of Financial and Quantitative Analysis, volume 45, No. 3, June 2010.
“Volatility spreads and expected stock returns.” T. Bali and A. Hovakimian. Management Science, volume 55, 1797-1812, November 2009.
“Cash flow sensitivity of investment.” A. Hovakimian and G. Hovakimian. European Financial Management, volume 15, No. 1, 2009.
“Peer pressure: Industry group impacts on stock valuation precision and contrarian strategy performance.” T.G. Bali, K.O. Demirtas, A. Hovakimian, and J.J. Merrick Jr. Journal of Portfolio Management, Spring 2006.
"Are observed capital structures determined by equity market timing?" A. Hovakimian. Journal of Financial and Quantitative Analysis, volume 41, No. 1, March 2006.
"The role of target leverage in security issues and repurchases.” A. Hovakimian. Journal of Business , volume 77, No. 4, October 2004.
"Determinants of target capital structure: The case of dual debt and equity issues." A. Hovakimian, G. Hovakimian, and H. Tehranian. Journal of Financial Economics , volume 71, No. 3, March 2004.
"How country and safety net characteristics affect bank risk-shifting." A. Hovakimian, E.J. Kane, and L. Laeven. Journal of Financial Services Research , volume 23, No. 3, June 2003.
"The capital structure choice: New evidence for a dynamic tradeoff model." A. Hovakimian, T. Opler, and S. Titman. Journal of Applied Corporate Finance , volume 15, No. 1, Spring 2002.
"Debt-equity choice." A.
Hovakimian, T. Opler, and S. Titman. Journal of Financial and Quantitative
Analysis , volume 36, No. 1, March 2001.
(Abstracted in CFA Digest ,
volume 31, No. 4, November 2001.)
"Effectiveness of capital regulation at U.S. commercial banks, 1985-1994." A. Hovakimian and E.J. Kane. Journal of Finance , volume 55, No. 1, February 2000.
“Taxes and stock returns.” R. Bali and A. Hovakimian. Journal of Financial Education , Fall 1999.
Paper Presentations
SUNY Stony Brook, 2012.
Rutgers University, 2011.
International Conference on Corporate Finance and Financial Markets, City University of Hong Kong, 2011.
Syracuse
University, 2010.
Asian
Finance Association International Conference,
2008.
European
Financial Management Association Annual Meeting, 2005.
American Finance Association Annual
Meeting, 2005.
SUNY
American
Finance Association Annual Meeting, 2003.
European Finance Association Annual
Meeting, 2002.
Financial Management Association Annual
Meeting, 2002.
Financial Management Association Annual
Meeting, 2000.
Financial Management Association International
European Conference, 1999.
Conference on Financial Economics and Accounting, NYU, 1998.
Conference on Bank Structure and Competition, Chicago, 1998.
Financial Management Association Annual
Meeting, 1996.
Financial Management Association Doctoral
Student Consortium, 1996.
New England Finance Doctoral Students Symposium, 1996.
Teaching Experience
Advanced Topics in Corporate Finance Theory (Ph.D.)
Corporate Finance Theory (Ph.D.)
Corporate Finance (Executive MS in Financial Statement Analysis)
Mergers and Acquisitions (Executive MS in Finance)
Mergers and Acquisitions (Executive MS in Finance, International Programs, Taipei and Paris)
Seminar in Finance (Executive MS in Finance, International Program, Singapore)
Advanced Managerial Finance (MBA)
Managerial Finance (MBA)
Financial Decision Making (MBA)
Advanced Corporate Finance (undergraduate)
Corporate Finance (undergraduate)
Boston College
Investment Analysis (undergraduate)
Basic Finance (undergraduate)
Emory University
Empirical Corporate Finance (Ph.D.)
Non-Academic Experience
Visiting Scholar, Strategic Advisory Group, UBS Investment Bank, New York, Fall 2005
Research Associate, Center for Business Research and Development, Armenia, 1992-1993
Computer Research Engineer, Institute for Computer Research and Development, Armenia, 1984-1991
Professional Service
European Financial Management, Financial Management, Financial Review, International Review of Finance, Journal of Banking and Finance, Journal of Business Research, Journal of Corporate Finance, Journal of Economics and Business, Journal of Finance, Journal of Financial Intermediation, Journal of Financial and Quantitative Analysis, Journal of Financial Services Research, Journal of Financial Stability, Pacific Basin Finance Journal, Review of Finance, Review of Financial Studies
European Finance Association Annual Meetings, 2006, 2007.
Financial Management Association Annual Meetings, 2006, 2007.
Eastern Finance Association Annual Meeting, 2006.
Grant Reviews
Research Grants Council, Hong Kong, 2006.
PSC-CUNY, 2007.
Miscellaneous
Academic Director Executive MS Programs in Finance, Baruch College (CUNY), 2010-present.
Coordinator, Doctoral Program in Finance, Baruch College (CUNY), 2007-present.
Executive
Committee, Department of Economics and Finance, 2010-present.
Recruiting Committee, Department of Economics and Finance, 2001-present.
Initiator and coordinator of “Brown Bag” finance research seminar series,
2002-2007.
Coordinator of the department’s finance research seminar series, 2004-2007.
Ph.D. Dissertation Committee, Chair: Huajing Hu, Finance, in progress.
Ph.D. Dissertation Committee, Chair:
Ph.D. Dissertation Committee, Chair: Guangzhong Li, Finance, defended, 2010.
Ph.D. Dissertation Committee, Chair:
Ph.D. Dissertation Committee, Chair: Ekkachai Saenyasiri, Finance, defended, 2008.
Ph.D. Dissertation Committee, Chair: Irena Hutton, Finance, defended, 2006.
Ph.D. Dissertation Committee, Member: Rajneesh Sharma, Finance, defended, 2005.
Ph.D. Dissertation Committee, Member: Farah Yunus, Finance, defended, 2005.
Ph.D. Dissertation Committee, Member: Doocheol Moon, Finance, defended, 2001.
Research Grants and Awards
Institute for New Economic Thinking research grant, 2010.
PSC-CUNY Research Award, 2010.
PSC-CUNY
Research Award, 2009.
PSC-CUNY
Research Award, 2008.
FDIC Center for Financial Research Funding Recipient, 2004.
Eugene Lang Junior Faculty Research Fellowship, Baruch College, 1999.
Bert and Sandra Wasserman Scholar, Baruch College, 2002-present.
Media Citations
“Global Settlement Study: Global Settlement Had Impact Abroad.“ By Marie Thibault; Compliance Reporter; July 2, 2008.
“Do IPOs Lead To M&A?” By Joshua Hamerman; Investment Dealers’ Digest; June 30, 2008.
“IPOs Beget M&A?” By Ken MacFadyen; M&A Journal; June 20, 2008.
“Global Settlement Study: Regulation Has Cured Analyst Bias.“ By Marie Thibault; Compliance Reporter; June 6, 2008.
Languages
Native in Armenian and Russian; fluent in English.