Johnson School Professors Bailey and Grinstein named Whitcomb Faculty Fellows

October 15, Ithaca, New York
Warren B. Bailey, Associate Professor of Finance, and Yaniv Grinstein, Assistant Professor of Finance, were appointed the Clifford H. Whitcomb Faculty Fellows for a one-year term effective November 1, 2004. The one-year fellowships were established by Clifford Whitcomb '43, MBA '48, an active alumnus and longtime supporter of the Johnson School and Cornell. The income from the endowment is used to support the work of the recipients.

Professor Bailey's interests include international finance, international securities markets, contingent-claims valuation, and monetary economics. He has a special interest in Pacific Rim and emerging capital markets. He has been featured and quoted extensively in the financial and mainstream press, including the New York Times, Business Finance, and Far Eastern Economic Review and television interviews on CNN-FN and CNBC. He is an associate editor of the Pacific Basin Finance Journal and the Journal of Financial and Quantitative Analysis, and he has edited a collection of articles on Japanese financial markets. He received the Class of 1992 Award for Teaching Excellence and the Stephen and Margery Russell Distinguished Teaching Award in 1999. Professor Bailey received his A.B. in economics at Cornell University; his M.B.A. in finance at McGill University; and his Ph.D in finance at University of California, Los Angeles.

Professor Grinstein's research and teaching interest is in corporate finance. His research focuses on investment, financing, and governance decisions in corporations. His current projects examine the effect of the new governance rules on firm value, the role of corporate boards in allocating capital to projects and the effect of institutional investors on firm value. He has published in several journals, including the Journal of Finance and the Journal of Financial Economics. Professor Grinstein obtained his B.S. (cum laude) in mechanical engineering at Techrion, Israel Institute of Technology; his M.S. in Business Administration at Techrion, in 1996; his M.S. in finance at Carnegie Mellon University, in 1997; and his Ph.D. in finance at Carnegie Mellon, in 2000.

The Johnson School at Cornell University, founded in 1946, is Cornell's graduate school of management. The Johnson School combines leading edge intellectual capital with "real time, real world" business practice and is among the top business schools in the world. The school is distinguished by a diverse, multinational community working closely within a small, interactive and intensely collaborative environment. The Johnson School offers a wide variety of opportunities for experiential learning, such as immersion curricula and student-run venture capital and mutual funds. Programs include MBA and doctoral degrees, a twelve-month MBA option for students with advanced degrees in science or engineering, an executive MBA and a variety of customized executive education programs. The Johnson School is located at the center of Cornell University-the largest of the Ivy League schools and one of the world's top research institutions. For more information about the Johnson School visit www.johnson.cornell.edu.

For More Information
Randall Sawyer
Public Relations Officer
607 255-8006
rs348@cornell.edu