Timothy R. Burch

Associate Professor of Finance
University of Miami
P.O. Box 248094
514 Jenkins Building
Coral Gables, FL 33124-6552
phone: 305-284-1509, fax: 305-284-4800
E-mail:tburch@miami.edu

CV in pdf format

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EDUCATIONAL BACKGROUND

Ph.D. in Finance, University of Michigan,1997

B.S.B.A. in Finance with Honors, University of Florida 1989

Certificate in Actuarial Science, University of Florida, 1989

EXPERIENCE

University of Miami, Associate Professor, 2004 - present, Miami, FL
University of Miami, Assistant Professor, 1997 - 2004, Miami, FL
Board of Trustees, Ashport Mutual Funds, 2004-present, Miami, FL
Actuarial Analyst (pensions), Alexander & Alexander Consulting Group, 1990-1992, Atlanta, GA
Duties included actuarial valuations, FASB calculations, discrimination testing, IRS and PBGC filings, and plan design impact studies. Passed actuarial exams on calculus and linear algebra, probability and statistics, numerical methods, and applied statistical methods.

SELECTED PUBLICATIONS (Click here for more complete CV in pdf format)

Locking out rival Bidders: The use of lockup options in corporate mergers
Journal of Financial Economics, Vol 60 (April 2001), pp. 103-141.

Abstracted in The CFA Digest, Vol. 31, No. 4 (November, 2001), pp. 39-41.

Divisional diversity and the conglomerate discount: The evidence from spin-offs (with Vikram Nanda)
Journal of Financial Economics Vol 70 (October 2003), pp. 69-98.

What's in a name? Hotellings's valuation principle and business school namings (with Vikram Nanda)
Journal of Business Vol. 78 (July 2005), pp. 1111-1135 (lead article).

Do firms time equity offerings? Evidence from the 1930s and 1940s (with Bill Christie & Vik Nanda)
Financial Management Vol 33 (Spring 2004) pp. 5-23.

Is acquiring-firm shareholder approval in stock-for-stock mergers perfunctory? (with Angela Morgan and Jack Wolf)
Financial Management Vol 33 (Winter 2004) pp. 45-69.

Does it pay to be loyal? An empirical analysis of underwriting relationships and fees (with Vikram Nanda and Vincent Warther)
Journal of Financial Economics Vol 77 (September 2005), pp. 673-699.

SELECTED WORKING PAPERS

Is the bright line between agency and corporate debt dim? (with Andrea Heuson)
NEW! Comments welcome.
Earnings news and institutional trading
02/2003 version (with Bhaskaran Swaminathan). This is a revised and retitled version of "Are institutions momentum traders?"
Industry structure and value-motivated conglomeration
(with Vikram Nanda and M.P. Narayanan)
Other research in progress: I'm currently working on various projects on investor sentiment, CEO incentives and internal capital allocation, executive compensation, and global cross-listings. Stay tuned for new working papers.

HONORS AND AWARDS

University of Miami
- School of Business Excellence in Research Award (2004)
- School of Business Excellence in Research Award (2003)
- School of Business Summer Research Award, 1999, 2000, 2001, 2003, 2006
- James W. McLamore Summer Research Award in Business and the Social Sciences, 1998, 2002
University of Michigan
- Allan Gilmour Fellowship, 1996
- Dykstra Fellowship, 1995-1996
- J. Ira Harris Fellowship, 1992-1994
University of Florida
- Larson Memorial Scholarship, 1988
- R.L. Rose Scholarship, 1987
- Other: Beta Gamma Sigma, Mortar Board, Omicron Delta Kappa (president), Outstanding Male Graduate Nominee

PROFESSIONAL ACTIVITIES

Papers on American Finance Association conference program
- 2005 (Philadelphia, PA): Does it pay to be loyal? An empirical analysis of underwriting relationships and fees
Papers on Western Finance Association conference program
- 1999 (Santa Monica, CA): Divisional Diversity and the Conglomerate Discount: The Evidence from Spin-offs
- 2000 (Sun Valley, Idaho): Industry Structure and the Conglomerate "Discount": Theory and evidence
- 2003 (Los Cabos, Mexico): Industry structure and value-motivated conglomeration
Papers on European Finance Association conference program
- 2003 (Glasgow, Scotland): Does it pay to be loyal? An empirical analysis of underwriting relationships and fees
Papers on Financial Management Association conference program
- 1996 (New Orleans, LA): When are Closed-end Funds Open? Rights Offers as a Response to Premiums
- 1998 (Chicago, FL): The Use of Lockup Options in Corporate Mergers
- 2001 (Toronto, Canada): Industry Structure and the Conglomerate "Discount": Theory and evidence
- 2003 (Denver, CO): Do Investors Overreact? A Natural Experiment
- 2003 (Denver, CO): Risk Reduction Motives and Conglomerate Investment Policy
- 2003 (Denver, CO): Shareholder Perceptions of Merger Transactions: An Empirical Analysis of Shareholder Voting Support
- 2006 (Salt Lake City, UT): Why do U.S. Firms List Abroad?
Session chair for 1999 Financial Management Association meetings (Orlando, FL)
Session chair for 2003 Financial Management Association meetings (Denver, CO)
Discussant at numerous Financial Management Association meetings
Refereeing activities include:
- Journal of Finance
- Review of Financial Studies
- Journal of Business
- Financial Management
- Journal of Corporate Finance
Member of American Finance Association, Western Finance Association, Financial Management Association, Society for Financial Studies, American Economic Association

TEACHING

Financial Investment (MBA, FIN 650), University of Miami (2004 - present)
The Financial Environment (MBA, Executive MBA, FIN 642), University of Miami (2004 - present)
Investment Analysis (MBA, FIN 620), University of Miami (2001 - present)
Fundamentals of Finance (MBA, FIN 602), University of Miami (1998-2001)
Fundamentals of Finance (Executive MBA, FIN 602), University of Miami (2000)
Fundamentals of Finance (Undergraduate, FIN 302), University of Miami (1999-2000)
Financial Management (Undergraduate, FIN 300), University of Michigan (1994)
Executive Education: University of Michigan (1995-1996), evening session lecturer for CitiBank classes
William Davidson Institute, Business Concepts Training, University of Michigan (1994)
Finance session for fellows training for on-site internships in China, Czech Republic, Slovakia, Hungary, Poland and Russia

SERVICE

Active member of Rotary Club of Key Biscayne