Manuchehr Shahrokhi, Ph.D.
Professor of Finance & Global Business
Editor, The Global Finance Journal
mshahrok@csufresno.edu
www.craig.csufresno.edu/globalfinance

Education
  • Ph.D., Business Administration, Ohio State University

1985
  • MBA, George Washington University, Washington, D.C

1977
  • BBA, Business Administration, Tehran Business School

1973

Academic Experiences
  • Professor (tenured), California State University-Fresno

                                                 1986-
  • Visiting Professor, Harvard University, Cambridge, MA

                                                 1993-98
  • Director, Graduate Business Programs, CSU, Fresno  

                                                 1989-92
  • Associate Professor, Franklin University, Columbus, OH

                                                 1982-86
  • Lecturer, College of Business, Ohio State University, Columbus, OH

1983-86
  • Assistant Professor, Ahwaz University, Iran

1979-80
  • Teaching Associate, Ohio State University, Columbus, Ohio.

1977-79
  • Research Associate, School of Business, George Washington Univesity

1976-77

Administrative Experiences
  • Director of Graduate Business Programs, CSU, Fresno

1989-92
  • Member of the Administrative Council of the School

1989-92
  • Chair of the School's Committee on Faculty

1994-96
  • Chair of the School's Board on Research

1993-96
  • Member of the School's International Board

1987-

  • Member of the Craig School’s Graduate Committee

1988-92, and 1997-

Business Experiences

Consultant in Financial Economics, Global Business, Financial Planning/Structuring, Financial Engineering, Feasibility Studies, Global Market Entry Strategies, and Forensic Economics. A select list of cases include, State of Ohio Trade & Investment Division, Rug Doctor, Pacific Resources, Orlopp Turkey Farms, A-OK Produce, Georgeson and Belardenalli Law firm, Dunion Law Firm, Spencer Fruit, and Chatue Meil, Inc.

The largest manufacturer/distributor of electrical and electronics products in the Middle East with over $100 million in annual sales and 3,000 personnel. Leadership role in strategic planning/implementation; Promoted work ethics, productivity, social responsibility, and agency relationship within the organization. Made executive decisions after consultation with the board, labor union and councils, and relevant government agencies. Achieved outstanding results.

One of the largest manufacturers of central air-conditioning systems in the Middle East with annual sales of $70 million and over 700 employees. Directed all finance functions; negotiated with labor union and councils and participated in the executive board decisions.

The largest Trading Company in the Middle East with $100 million in sales and 350 employees. Developed and implemented strategies; directed all international trading activities of the company. Participated in the board and employees' council meetings.

Training and Procurement Officer for the central district and national headquarters.

Procurement of equipment, parts and supplies for the Gas Pipeline to former USSR.

Solicited international bids; performed comparative analysis, communicated with end-users and suppliers; coordinated the process from order initiation to payments, shipment, and delivery to our warehouses.

                    Administrative work for including procurement and accounting.

Intellectual Contributions

The highlights my scholarly work and intellectual contributions include:

Publications In Refereed Journals
  1. "Global Financial Economics Challenges for the New Millenium," (Editorial) The Global Finance Journal, Volume 9, no.1, pp.1-5, 1998.
  2. "Brand Equity Valuation: A Global Perspective," Journal of Product & Brand Management, Volume 12, no. 7, pp. 63-76, 1998.
  3. "The Application of Foreign Exchange Forecasting Models to U.S. Dollar and Mexican Peso, Global Finance Journal, Vol. 8, no. 2, pp. 67-79, Summer 1997.
  4. "Pricing Financial Times-Stock Exchange Index Warrants," American Business Review, Volume 22 , no. 2, pp. 44-51, July, 1997.
  5. "Pricing Nikkei Call Warrants: Some Empirical Evidence," (w/ K.C. Chen and Steven Sears), Financial Markets & Economic Integration in Asia, pp.151-164, March 1994.
  6. "The Impact of Foreign Currency Fluctuations on Manufacturing," The Journal of Industrial Management Institute (Tadbir), Volume 10, no11., pp. 3-7, 55-58, January 1994.
  7. "Official and Black Market Foreign Exchange Rates: An Empirical Study of Causality," Global Finance Journal, Vol. 4, No. 2, pp. 52-64, fall 1994.
  8. "Pricing Nikkei Put Warrants: Some Empirical Evidence," (with K.C.Chen and Steven Sears), Journal of Financial Research, pp. 75-83, March 1992.
  9. "LP: An Expert System for Purchase versus Lease Decision," (with Rafael Solis), Journal of Managerial Finance, Vol. 15, No. 5, pp. 43-51, 1989.
  10. "Market Imperfections and the Cost of Capital," (with K.C. Chen), Journal of Managerial Finance, vol. 15, No. 3, pp. 24-35, 1989.
  11. "Third World Debt and the Stability of Global Financial System," Valley Business Perspectives, Vol. 13, No. 2, pp. 52-59, Summer 1988.
  12. "Preparing Your Products for International Markets," Valley Business Perspectives, Vol. 12, No. 3, pp. 34-44, Fall 1987.
  13. "International Trade: Basics of Exporting," Valley Business Perspectives, Vol.13, No.1, pp. 17-26, Spring 1987.
  14. "Foreign Direct Investment in the U.S.," The Columbus Business Journal, November 1984.

Proceedings Of Professional Meetings
  1. "European Monetary Union: From ERM to EURO," 10th Asian Pacific Conference on International Accounting Issues, Maui, Hawaii, October 25-28, 1998.
  2. "Global Financial Accounting Issues in Measuring Brand Equity, "Asian-Pacific Conference on International Accounting Issues, Bangkok, Thailand, November 1997.
  3. "Brand Equity Valuation, " Global Finance Conference, Montreal, May 1997.
  4. "Cyberspace Marketing of Financial Services," Global Finance Conference, Montreal, Canada, May 1997.
  5. "The European Currency Unit in an Era of Global Financial Integration," Global Finance Conference, Honolulu, Hawaii, March 1996.
  6. "Pricing Foreign Stock Index Warrants: The Case of the Financial Times-Stock Exchange 100 Share Index, " Transactions of the 1994 ACME International IV Conference, August 1994.
  7. "Pricing Financial Times-Stock Exchange Index Put Warrants: Some Empirical Evidence," Annual Meeting of the Western Decision Science Institute, HI, 1994.
  8. "Regionalization and Globalization of Markets: Implications for Developing Nations," Industrial Management Institute Conference, January 1994.
  9. "Micro-Computers And Teaching Finance Courses," (with H. Whitney), Southwestern Finance Association, Houston, TX, March, 1987.
  10. "Pricing Financial Times-Stock Exchange Index Put Warrants: Some Empirical Evidence," (w/KC Chen & Joseph Wilson), Western Decision Science Institute, pp. 455-7, March 1994.
  11. "Pricing Nikkei Call Warrants,"(w/ K.C. Chen & Steven Sears), 5th Asian-Pacific Conference on International Accounting Issues, pp.44-47, November 1993.
  12. "Pricing Nikkei Put Warrants: Some Empirical Evidence," (with Chen and Sears), Western Decision Science Institute, March 1992, pp. 143-145.
  13. "Pricing Nikkei Put Warrants," (with Chen and Sears), 3rd Annual Asia-Pacific Conference on International Accounting Issues, October 1991, pp. 181-184.
  14. "Hedging Effectiveness of Eurodollar Futures Options," (w/KC Chen & Timothy Bloemhof), Asian-Pacific Conference on International Accounting Issues, Vancouver, Oct. 1990.
  15. "An Empirical Analysis of Foreign Exchange Market Efficiency," (w/Tahai), Asian-Pacific Conference on International Accounting Issues, Fresno, October 1989.
  16. "Foreign Currency Exposure Management: The Case of Small Business," Small Business Institute Directors Association, Washington, D.C., February 1989.
  17. "Performance Evaluation of Venture Capital Companies,", Second National Meetings of Academy of Financial Services, New Orleans, LA, October, 1988.
  18. "Determinants of Exchange Rates: Theory & Evidence," Operations Research Society of America/The Institute of Management Sciences, Denver, CO, October 24, 1988.

Published Books/Manuals/Study Guides
Chapters In Books/Book Reviews
  1. Financial Management: Laboratory Manual, (w/Chen), McGraw-Hill, 1998, New York.
  2. International Business: Readings And Supplementary Materials, Harvard University Printing Services, Cambridge, Massachusetts, July 1998.
  3. Contemporary Issues In Global Business And Study Guide, Harvard University Printing Services, Cambridge, Massachusetts, July 1996.
  4. Banking with the Poor, (Book Review), Global Finance Journal, 1994.
  5. "Pricing Nikkei Call Warrants: Some Empirical Evidence," (with Chen & Sears), Chapter in Financial Markets and Economic Integration in Asia, pp.151-164, Fall 1994.
  6. REVERSE LICENSING: International Transfer of Technology to the U.S., Praeger Publishing Company, New York, NY, 1987.

Other Scholarly Work
  1. "Are MNCs Good Diversification Vehicles? Working Paper, September 1985.
  2. "Why Do Foreign Firms Locate in Ohio?," The Columbus Dispatch, October, 1984.
  3. Self-liquidating and Collateralized Financing: A Creative Technique," (w/Whitney), 1984.
Participation/Presentations At Professional Meetings
  1. Session Chair on "International Finance," The 10th Asian-Pacific Conference on International Accounting Issues, Maui, Hawaii, October 1998.
  2. "Global Financial Economics Research," Ph.D. Project, Journal Editors' Panel, KMPG at the Financial Management Association, Chicago, Illinois, October 12-17, 1998.
  3. Session Chair on "International Business Issues" The 9th Asian-Pacific Conference on International Accounting Issues, Bangkok, Thailand, November 1997.
  4. "Investing in Our Future Together," Ph.D. Project, Finance Section, "Journal Editors' Panel," Sponsored by KMPG, Financial Management Association, Honolulu, Hawaii, October 1997.
  5. "The Impact of Entrepreneurial Decisions and Intangible Assets on the Firm’s Market Value Added," Academy of Entrepreneurial Small Firm Finance, Honolulu, Hawaii, October 1997.
  6. "Venture Capital Markets - A Virtual Reality/Internet IPO," The Academy of Entrepreneurial Small Firm Finance Conference, Honolulu, Hawaii, October 1997.
  7. "International Business Education in 1990s," CSB International Board, December 1996.
  8. "Beyond Borders," presentation, CSB International Board, Fresno, October 1996.
  9. "Investment Strategies," Seminar/Workshop, Chinese Executives, November 1996.
  10. "The European Single Currency," CSB Research Colloquium, March 1995.
  11. "International Financial Systems: Implications for Developing Nations," Industrial Management Institute Conference, January 1994.
  12. "GATT and The World Trade Organization: Membership Issues," Industrial Management Institute Conference, Tehran, Iran, January 1994.
  13. Session Chair on International Business Issues, Third Annual Conference on Asian Pacific International Accounting Issues, Honolulu, Hawaii, October, 1991.
  14. "Hedging Effectiveness of Eurodollar Futures Options," (w/Chen & Sears), Asian-Pacific Conference on International Accounting Issues, Vancouver, Canada, Oct.1990.
  15. "International Business-Finance Issues," 2nd Conference on Asian Pacific International Accounting Issues, Vancouver, Canada, October 1990.
  16. "LP: An Expert System for Purchase versus Lease Decisions," (with Solis), Primer Congreso National Conference, Mexico City, Mexico, February, 1990.
  17. Participant: the AACSB Conference on Executive MBA, San Antonio, Texas, 1990.
  18. Participant: The Graduate Management Admission's MBA Fair, Los Angeles, CA, 1990.
  19. "An Empirical Analysis of Foreign Exchange Market Efficiency," (with Tahai), Asian-Pacific Conference on International Accounting Issues, Fresno, CA, Oct., 1989.
  20. "Convertibles & Corporate Capital Structure," (with Homaifar), Financial Management Association, Boston, Massachusetts, October, 1989.
  21. "Efficiency of Foreign Exchange Market: Robust Estimation Technique & Currency Forecasting," (w/Tahai), Financial Management Assoc., Boston, MA, Oct. 1989.
  22. Discussant: "Exchange Rate Movements and Stock Returns of U.S. Commercial Banks," M. Spirey & J. Harris, Financial Management Association, Boston, MA, October, 1989.
  23. "Foreign Currency Exposure Management: The Case of Small Business," Small Business Institute Directors Association, Wash., DC., 1989.
  24. Discussant: "The Market for Corporate Control, Agency Costs and Corporate Collectivism in Japanese Mergers," Pettway et. al. Southern Finance Assoc., San Antonio, TX, 11/1988.
  25. "Arbitrage Pricing Theory and Valuation of Index Options," (with KC Tseng) National Meetings of Southern Finance Association, San Antonio, TX, November 1988.
  26. Discussant: "Investment Performance of Master Limited Partnerships," by: Kapplin et., 2nd National Meetings of Academy of Financial Services, New Orleans, LA, Oct., 1988.
  27. "Performance Evaluation of Venture Capital Companies," (with R. Yazdipour), Academy of Financial Services, New Orleans, LA, October 1988.
  28. "The Impacts of Calling Convertible Bonds on Stock Prices, " Financial Management Association, New Orleans, LA, October 1988.
  29. Discussant: "A Multivariate Comparison of Financial Characteristics of U.S. and Japanese Manufacturing Firms," Meric and Meric, Financial Management Assoc., New Orleans, Oct.1988.
  30. Chair/Presenter: "Topics in International Business," Operations Research Society of America (ORSA), and The Institute for Management Sciences, Denver, October 1988.
  31. "Determinants of Exchange Rates: Theory and Evidence," National Meetings of ORSA/TIMS, Denver, CO, October 24, 1988.
  32. Program Committee: International Symposium on "Business-Finance in LDCs Capital Markets," sponsored by RGK Foundation and Hofstra University, New York September 1988.
  33. "Convertible Calls and Stock Returns," Financial Management Association, Las Vegas, NV, October 1987.
  34. "Micro-Computers & Teaching Finance Courses," (with Howard Whitney), National Meetings of Southwestern Finance Association, Houston, TX, March 1987.
  35. Discussant: "A General International Financial Asset Portfolio Management Algorithm with Application to Industrial Country Market," Academy of Int'l Business, Chicago, Nov. 1987.
  36. Conference Coordinator: Going International: A Market Perspective," cosponsored by the California State University and Fresno Chamber of Commerce, November 1987.
  37. Application of Micro-Computers to Financial Management," National Meetings of Financial Management Association, New York, NY, October 1986.
  38. Discussant: "Proxy Contests and Corporate Reform," by T. K. Makherjee and O. Varela, National Meetings of Eastern Finance Association, Nashville, TN, April 1986.
  39. "A Valuation Model for International Technology Licensing", National Meetings of The Academy of International Business (AIB), Cleveland, OH, Oct., 1985.
  40. Program Committee: Academy of International Business, Cleveland, Ohio, Oct., 1985.

Networking

The Global Finance Journal and the Conference have provided me with an excellent opportunity to develop a network of over 500 professionals worldwide. My office serves as a center for the exchange of ideas and dissemination of cutting-edge research studies in global financial economies. (See GFC Proceedings or visit www.craig.csufresno.edu/globalfinance).

Service to Community and Profession

Department/School/University

  1. Advisor, Financial Management Association

1986-
     2.  Advisor, International Business Association

1992-
     3.  Advisor, Graduate Students’ Thesis or Projects (over 20) 

1987-
     4.  Member, CSB Graduate Program Committee

1996-
     5.  Member, CSB International Advisory Board

1991-
     6.  Member, CSB Entrepreneurship Task Force

1995-96
     7.  Chair, CSB Committee on Faculty

1994-96
     8.   Chair, CSB Board on Research

1993-96
     9.   Member, University Research Awards Committee

1988-89
    10.  Member, CSB Equipment & Software Committee

1986-88
    11.  Member, Dept. of Finance & Business Law Curriculum Committee

1986-
    12.  Member, CSB Committee on Hosting BAC, Business Associates/Alumni

1986-92

Community And Profession

      1.  Member, Financial Management Association (FMA)
     2.  Member, Academy of Entrepreneurial and Small Firm Finance
     3.   Judge: Academic Decathlon, National Competition among High School Students in Central California

1998
     4. Member, WASC Accreditation Team

1997-98
     5. Presentation: "Globalization," at the Academic Decathlon National Competition Among High School
         Students, Central California

1997
     6. Chair, International Business Committee, Fresno Chamber of Commerce 

1988
     7.  Project Director, "International Business Directory & Guide", cosponsored by Fresno Chamber of
          Commerce and CSU-Fresno

1988
     8.  Program Coordinator, "Exporting: Doing it Better," a symposium sponsored by the CSU-Fresno and
          Fresno Chamber of Commerce.

1988
     9.  Interviewed by ABC TV on "Why Business Professors Leave Universities?"

1990
   10.  Interviewed by "Valley Business TV Show" and the Fresno Bee on new MBA

1988-89
   11.  Guest speaker on KMJ 58 Radio, on "Internationalizing Fresno Businesses,"

1988
   12.  Created and served as faculty advisor, Financial Management Association Guest speaker, various
          organizations, including FMA, Int'l Business Assoc.,

1986-
   13.  Graduate Business Association, and Fresno City College.

1986-
   14. Faculty Advisor, undergraduate and graduate teams participating at the "International Business Policy
         Simulation Competitions." Four times champion.

1987-92
   15. Guest speaker at a live talk show (KMJ 58 Radio), on the "Foreign Currency Issues."

1987-94

Awards and Grants

California State University, Fresno

  1. International Curriculum Development, CSB Summer Mini-Grant.                                                         1995-96
  2. Craig School of Business, CSU-Fresno, Summer mini-grant.                                                                          1996
  3. Certificates of Appreciation (6), UNR Int'l Business Policy Games. 987-92                                                                 
  4. Meritorious Performance and Professional Promise Awards.                                                                              987-89
  5. Financial Management Association Student Services Award.                                                                          1986-88
  6. California State University Mini-grant (AAP) for research.                                                                                    1989
  7. California State University-Fresno Assigned Time for Research for                                                                  1988-89
  8. California State Univ.-Fresno Travel Grant for Development of External Funding.                                                   1988
  9. California State University-Fresno Assigned Time for Research for                                                                   1987-88
  10. School of Business Research Committee micro-grants (3).                                                                               1986-88

Franklin University, Columbus, Ohio

  1. Financial Management Association Student Dedication Award."                                                                     1985-86
  2. The Outstanding Educator of the Year Award.                                                                                               1983-84

Tehran Business School

  1. Magna Cum Laude College Graduate Scholarship Award."                                                                             1974
  2. Magna Cum Laude Graduate Award."                                                                                                            1972-73
  3. Dean's List                                                                                                                                                     1970-73

National Iranian Oil Company

  1. Outstanding Employee of The Year Award.                                                                                                    1972
  2. Outstanding Employee of the Year Award.                                                                                                     1970

Other Recognition

  1. Listed in the 'Who's Who In International
  2. Listed in the Who's Who In The West
  3. Listed in the Five Hundred Leaders of Influence
  4. Listed in the Harvard University Who's Who in International Management.