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Faculty

Carol Marie Boyer, Ph.D.

Associate Professor of Finance

B.B.A., Trinity UniversityM.B.A., Texas State UniversityPh.D., Florida State University (support area in econometrics)

Description

Carol Marie Boyer received a B.B.A. from Trinity University, an M.B.A. from Texas State University and a Ph.D. in finance from Florida State University with a support area in econometrics.

Her research interests include initial public offerings, exchange traded funds, special purpose acquisition corporations, analysts forecasts as well as derivatives.

She has taught a wide range of courses including Venture Capital and Private Equity, Financial Markets and Institutions, Corporate Finance, International Finance, Econometrics and Business Mathematics .

Her refereed publications include articles in The Cambridge Journal of Economics; Advances in Investment Analysis and Portfolio Management; the Journal of Business, Industry and Economics; Derivatives Use, Trading and Regulation; Managerial Finance; the Southern Business and Economics Journal; and the Decision Sciences Institute Conference Proceedings. She also has a chapter in the book "Stock Exchanges, IPO's and Mutual Funds" and another chapter in "Pricing and Performance of IPO's in the US."

She has presented research papers at the European Financial Management Association, the Eastern Finance Association, the Decision Sciences Institute, the Financial Management Association and the ABN AMRO International IPO Conference.

Specialties

Initial Public Offerings, Environmental Finance and Clean Technologies, Market for Fine Arts, Exchange Traded Funds, Special Purpose Acquisition Corporations

Publications

“Deal or No Deal” with Glenn Baigent and Jiamin Wang.  Journal of Financial and Economic Practice, Vol. 13, Iss. 1, Spring 2013. 

“Voluntary Environmental Regulation and Firm Performance: The Chicago Climate Exchange ” with Catherine Boulatoff and Steve Ciccone.  Journal of Alternative Investments.  Winter 2013.  Vol 15, No. 3.  pp. 114–122.

“Early stage financing of Clean Technology industries:  Does Private Equity backing matter?"  Journal of Private Equity.  Fall 2011, Vol. 14, No. 4: pp. 73–78.

“The Market for Fine Art and the Economy.” Spring 2011.  Journal of Wealth Management.  Vol. 13, No. 4. Pp. 77-83.

“The Search for a Dog-Free Portfolio:  Why Unions Matter to Investors” with Steve Ciccone and Phil Swicegood.  June 2010. Journal of Business & Economics Research. Vol. 8, No. 6, pp. 67-71

“Do Utility Stocks Provide Exposure to Bond Markets?”  with Steve Ciccone. December 2009.  Journal of Business & Economics Research.  Vol. 7, No. 12, pp.25-29.

“Using contingent valuations to elicit a community’s preferences for wind farm development” with Catherine Boulatoff.  October 2010.  Applied Economic Letters.  Vol. 17, Iss. 14, pp. 1361-1366.

“Knightian Uncertainty: Evidence of uncertainty premium in the capital market” with James Ang.  July 2010.  Applied Economic Letters. Vol. 17, Iss. 10, pp. 945-949.

“Green Recovery:  How are Environmental Stocks Doing?” with Catherine Boulatoff.  Fall 2009.   Journal of Wealth Management.  Vol. 12, No. 2,pp. 10-16. 

 “Performance Differences between IPOs in New Industries versus Established Industries” with James Ang.   2009.  Managerial Finance.  Vol. 35 No. 7.  pp. 606-623.

“Did the 1987 crash change the psyche of the stock market?  The evidence from IPOs” with James Ang.  2009.   Review of Accounting and Finance Vol. 8, No. 2,  pp. 138-154.

“SPACs as Alternative Investments:  An Examination of Performance and Factors that Drive Prices” with Glenn Baigent.   Journal of Private Equity.  Vol. 11, No. 3.  2008.  pp. 8-15.

“Finance and Politics: The Wealth Effects of Special Interest Group Influence during the Nationalization and Privatization of Conrail.”  With James Ang.  Cambridge Journal of Economics.  Vol. 31, No. 2, March 2007. pp. 193-216.

“Distinguishing Quality within the IPO market.” with James Ang.  Advances in Investment Analysis and Portfolio Management.  Vol. 3, 2007.  pp. 69-81.

“Analysts Forecasts and Insider Trading” with Steve Ciccone and Wei Zhang.  Advances in Investment Analysis and Portfolio Management.  Vol. 2.  2006.  pp.123-146.

“An Examination of the Capital Structure of Internet Firms.”  Spring 2005.  Journal of Business, Industry and Economics.   Vol. 5.  pp. 61-74.

 “Index Futures and Stock Price Volatility.” With Mark Popiela. 2004.  Derivatives Use, Trading and Regulation.  Vol. 9.  No. 4, pp. 351-364.

“When to Buy a New Issue.”  2004.  Managerial Finance.  Vol. 30.  No. 1, pp. 5-16. 

“Play Ball at My House: The Value of Naming Rights in Sports Complexes”   with Steve Ciccone, Yvette Harman and Philip Swicegood.  Summer/Fall 2003.  Southern Business and Economics Journal.   Vol. 26. No. 3 & 4.   pp. 103-118.

“Sympathetic Distortion of Systematic Risk” with James Ang and Mark Popiela.  Decision Sciences Institute Conference Proceedings.  Washington, D.C.  Nov. 2003.

“Capitalism with a Conscious: Spotlight on GreenVesting.”  EcoInvestor Guide.  May 2010.  http://www.ecoinvestorguide.com/news-articles/capitalism-with-a-conscious-spotlight-on-greenvesting/

Lectures and Presentations

“Government Investment in Clean Technology: Winners by country and industry."  The Academic Forum.   Quebec City.  June 17-19, 2013.

“Striking Gold with Green:  The Investment Performance of Clean Technology Firms.”  Northeast Business and Economics Association.  NBEA, Port Jefferson NY, Oct 25-27, 2012

“How best to invest in Green Energy and Clean Technologies. “  Western Economic Association International.  San Francisco.  June 30, 2012. 

“The effect on profitability and stock price performance from corporate participation in environmental programs.”  Environmental Management and Engineering.   Calgary, Canada.  July 4, 2011.    

“The Economy and the Market for Fine Art:  A Time Series Analysis.”  Western Economic Association International.  Portland, Oregon.  June 30, 2010. 

Co-author, “Green Recovery: How are environmental stocks doing?” presented at the National Business and Economic Society (2009)

Co-author, “Do Utility Stocks Provide Exposure to Bond Markets?” presented at the Northeast Business and Economics Association (2008)

Co-author, “Knightian Uncertainty: Evidence from IPOs in New Industries,” presented at the International Applied Business Research Conference (2008)

Co-author, “Did the 1987 crash change the psyche of the stock market? The evidence from IPOs,” presented at the French Finance Association (2007)

Co-author, “A Study of IPOs in High Tech Industries,” presented at the European Financial Management Association (2005)

Co-author, “Insider Trading and Earnings Reporting:Evidence of Managerial Optimism or Opportunism," presented at the European Financial Management Association (2004)

Co-author, “IPO: What Happens Next?” presented at the Eastern Finance Association (2004)

Co-author, “Sympathetic Distortion of Systematic Risk,” presented at the Decision Sciences Institute (2003)

Co-author, “Play Ball at My House: The Value Of Naming Rights In Sports Complexes,” presented at the Financial Management Association (2003)

Co-author, “A Longitudinal Study of IPOs in New Industries,” presented at the ABN AMRO International IPO Conference (2000)

Author, “Special Interest Group Influence during the Nationalization and Privatization of Conrail,” presented at the Financial Management Association Meeting (1999)

Co-author, “The Effects of Inclusion In and Removal From the S&P 500 on Stock Price and Trading Volume,” presented at the Financial Management Association Meeting (1998)

Co-author, “Price Volatility and the S&P 500 Effect,” presented at the Eastern Finance Association Meeting (1999)

Honors/Awards

Sustainable Pioneer Award, 2011

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