Stephen A. Ross,
Massachusetts Institute of Technology Randolph W. Westerfield,
University of Southern California Jeffrey Jaffe,
University of Pennsylvania
ISBN: 0072829206 Copyright year: 2005
About the Authors
Stephen A. RossSloan School of Management, Massachusetts Institute of Technology
Stephen Ross is presently the Franco Modigliani Professor of Financial Economics at the Sloan School of Management, Massachusetts Institute of Technology. One of the most widely published authors in finance and economics, Professor Ross is recognized for his work in developing the Arbitrage Pricing Theory, as well as for having made substantial contributions to the discipline through his research in signaling, agency theory, option pricing, and the theory of the term structure of interest rates, among other topics. A past president of the American Finance Association, he currently serves as an associate editor of several academic and practitioner journals. He is a trustee of CalTech, and a director of the College Retirement Equity Fund (CRF) and of GenRe Corporation and is the co-chairman of Roll and Ross Asset Management Corporation.
Randolph W. Westerfield
The Marshall School of Business, University of Southern California
Randolph W. Westerfield is Dean of the Southern California’s Marshall School of Business and holder of the Robert R. Dockson Dean’s Chair of Business Administration.
From 1988 to 1993, Professor Westerfield served as the chairman of the School’s finance and business economics department and the Charles B. Thornton Professor of Finance. He came to USC from The Wharton School, University of Pennsylvania, where he was the chairman of the finance department and member of the finance faculty for 20 years. He was the senior research associate at the Rodney L. White Center for Financial Research at Wharton. His areas of expertise include corporate financial policy, investment management and analysis, mergers and acquisitions, and stock market price behavior.
Professor Westerfield has served as a member of the Continental Bank trust committee, supervising all activities of the trust department. He has been consultant to a number of corporations, including AT&T, Mobil Oil, and Pacific Enterprises, as well as to the United Nations, the U.S. Departments of Justice and Labor, and the State of California. Jeffrey F. JaffeThe Wharton School, University of Pennsylvania
Jeffrey F. Jaffe has been a frequent contributor to finance and economic literature in such journals as the Quarterly Economic Journal, The Journal of Finance, The Journal of Financial and Quantitative Analysis, The Journal of Financial Economics, and The Financial Analysts’ Journal. His best know work concerns insider trading, where he showed that corporate insiders earn abnormal profits from their trades and that regulation has little effect on these profits. He has also made contributions concerning initial public offerings, regulation of utilities, the behavior of marketmakers, the fluctuation of gold prices, the theoretical effect of inflation on the interest rate, the empirical effect of inflation on capital asset prices, the relationship between small capitalization stocks and the January effect, and the capital structure decision.
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2005 McGraw-Hill Higher Education