M. Babajide (Jide) Wintoki
Capitol Federal Professor of Finance and Area Director of
Analytics, Information, & Operations Management
University of
Kansas, School of Business, Capitol Federal Hall, Lawrence, KS 66045. Phone:
(785) 864-7515. Email: jwintoki@ku.edu. Web: http://wintoki.faculty.ku.edu/
Capitol
Federal Professor of Finance, University of Kansas School of Business, January
2020 –
Professor,
Finance, University of Kansas School of Business, August 2019 –
Area
Director - Analytics, Information, & Operations Management, University of
Kansas School of Business, January 2019 –
Associate
Professor, Finance, University of Kansas School of Business, August 2014 – July
2019
Visiting Economist, Office of Litigation
Economics, Division of Economic and Risk Analysis, Securities and Exchange
Commission, Washington, D.C., January 2017 – December 2017
Assistant
Professor, Finance, University of Kansas School of Business, August 2008 –
August 2014
PhD, Banking and Finance, 2008
Terry College of Business, University of Georgia
B.S., Electrical
Engineering
University of
Lagos
“Partisan Bias in
Fund Portfolios.” Journal of
Financial & Quantitative Analysis, forthcoming (with Y. Xi).
– Media Coverage: CNBC; Reuters; Wall Street
Journal.
“Friendly
Directors and the Cost of Regulatory Compliance.” Journal of Corporate Finance, 58 (2019),
112–141 (with Y. Xi).
“Offshore
Expertise for Onshore Companies: Director Connections to Island Tax Havens and
Corporate Tax Policy.” Management Science, 64 (2018), 3241–3268 (with C.
Jiang, T. Kubick, & M. Miletkov).
“Foreign
Independent Directors and the Quality of Legal Institutions.” Journal of International Business Studies, 48 (2017), 267–292 (with M. Miletkov & A. Poulsen).
“Do CMO
Incentives Matter? An Empirical Investigation of CMO Compensation and Its
Impact on Firm Performance.” Management Science, 63 (2017), 1993–2015 (with N.
Bansal, K. Joseph, & M. Ma).
– Guy O. and Rosa Lee Mabry Award for Best Paper in the KU School of Business, 2017.
“Director
Networks and Informed Traders.” Journal of Accounting & Economics, 62 (2016), 1–23 (with F. Akbas, & F. Meschke).
“The Cost
of Innovation: R&D and High Cash Holdings in U.S. Firms.” Journal of Corporate Finance, 41 (2016), 280–303
(with Z. He).
“Investor
Protection and the Role of Firm-level Financial Transparency in Attracting
Foreign Investment.” Financial Review, 50, (2015), 393–434 (with B.
Hansen, & M. Miletkov).
– Nominated (Finalist)
for the Financial Review Reader’s Choice Best Paper Award in 2015.
“Corporate
Boards and Acquirer Returns: International Evidence.” Managerial Finance, 41, (2015), 244– 266 (with M. Miletkov, & S. Moskalev).
“The
Role of Corporate Board Structure in Attracting Foreign Investors.” Journal of Corporate
Finance, 29, (2014),
143–157 (with M. Miletkov, & A. Poulsen).
– Best Paper in International Finance, Eastern
Finance Association (EFA) Meeting, 2014
“How
Do Public Companies Adjust Their Board Structures? Journal of Corporate Finance, 23, (2013), 108–
127 (with D. Cicero, & T. Yang).
“Advertising
Investments, Information Asymmetry and Insider Gains.” Journal of Empirical Finance, 22, (2013), 1–15
(with K. Joseph).
“Forecasting
Residential Real Estate Price Changes from Online Search Activity.” Journal of Real Estate Research, 35, (2013),
283–312 (with E. Beracha).
– Best Paper (Housing
Category), 2012 American
Real Estate Society
(ARES) Meeting.
“Disentangling the
Market Value of Customer Satisfaction: Evidence from Market Reaction to the
Unanticipated
Component of ACSI Announcements.” International
Journal of Research in Marketing, 30, (2013) 168–178 (with V. Ivanov,
& K. Joseph).
“Endogeneity
and the Dynamics of Internal Corporate Governance.” Journal of Financial Economics, 105 (2012), 581–606
(with J. Linck, & J. Netter).
–
Top
1% in number of citations in the field of Economics & Business and
publication year (Web of Science).
“The
Size, Concentration and Evolution of Corporate R&D Spending in U.S. Firms
from 1976 to 2010: Evidence
and Implications.” Journal of
Corporate Finance,
18, (2012), 496–518 (with M. Hirschey, & H. Skiba).
“Financial
Development and the Evolution of Property Rights and Legal Institutions.” Emerging Markets Review, 13, (2012),
650–673 (with M. Miletkov).
“Implications
of Data Screens on Merger and Acquisition Analysis: A Large Sample Study of
Mergers and Acquisitions
from 1992–2009.” Review of
Financial Studies,
24, (2011), 2316–2357 (with J. Netter
and M. Stegemoller). Reprinted in Mergers and Acquisitions, 2012, ed. J. H.
Mulherin, Edward Elgar Pub.
– Guy O. and Rosa Lee Mabry Award for Best Paper in the KU School of Business, 2012.
“Forecasting
Abnormal Stock Returns and Trading Volume Using Investor Sentiment: Evidence
from Online Search.” International Journal of Forecasting, 27 (2011),
1116–1127 (with K. Joseph, & Z. Zhang).
“Legal
Institutions, Democracy and Financial Sector Development.” Advances in Financial Economics, 13 (2009), 171–
96 (with M. Miletkov).
“Corporate Boards
and Regulation: The Effect of the Sarbanes-Oxley Act and the Exchange Listing
Requirements on Firm
Value.” Journal of
Corporate Finance,
13, (2007), 229–250.
– Best Doctoral
Student Paper, Southern Finance
Association (SFA) Meeting, 2006.
“CFO Social Capital,
Liquidity Management, and the Market Value of
Cash” (with Y. Xi).
“Indirect Insider
Trading” (with B. Goldie, C. Jiang, &
P. Koch).
“Insider Trading Patterns” (with L. Biggerstaff,
& D. C. Cicero). Revise & Resubmit.
“Non-competes and Profit Generation by
Corporate Employees” (with Z. He).
C.
Conference Presentations (selected)
“Indirect
Insider Trading.” Western Finance Association Annual Meeting, Huntington Beach,
CA, June 2019 (with B. Goldie, C. Jiang, & P. Koch).
“Non-competes
and Profit Generation by Corporate Employees.'” Financial Management
Association Annual Meeting, San Diego, CA, October 2018 (with Zhaozhao He).
“Partisan
Bias in Fund Portfolios.” Midwestern Finance Association Annual Meeting, San
Antonio, TX, March 2018 (with Y. Xi).
“Partisan
Bias in Fund Portfolios.” Financial Management Association Annual Meeting,
Boston, MA, October 2017 (with Y. Xi).
“Friendly Directors and the Cost of Regulatory Compliance.”
Financial Management Association Annual Meeting, Las Vegas, NV, October 2016.
“Offshore
expertise for onshore companies: Director Connections to Island Tax Havens and Corporate Tax Policy.”
Midwest Finance Association Annual Meeting, Atlanta, GA, March 2016
(with C. Jiang, T. Kubick, & M. Miletkov).
“Foreign
Independent Directors and the Quality of Legal Institutions.” Journal of
International Business Studies Conference on “The Role of Financial and Legal
Institutions in International Corporate Governance,” London, U. K., February
2016 (with M. Miletkov, & A. Poulsen).
“Offshore
expertise for onshore companies: Director Connections to Island Tax Havens and
Corporate Tax Policy.” Financial Management Association Annual Meeting,
Orlando, FL., October 2015 (with C. Jiang, T.
Kubick, & M. Miletkov)
“Insider Trading Patterns.” American Finance Association
Annual Meeting, Boston, MA, January 2015 (with L. Biggerstaff, & D. C.
Cicero).
“Director
Networks and Informed Traders.” Financial Management Association Annual
Meeting, Nashville, TN, October 2014 (with F. Akbas, & F. Meschke).
“Director Networks and Informed Traders.” 17th Annual
Conference of the Swiss Society for Financial Market Research, Zurich,
Switzerland, April 2014 (with F. Akbas, & F. Meschke).
“The
Role of Corporate Board Structure in Attracting Foreign Investors.” Eastern
Finance Association Annual Meeting, Pittsburgh, PA, April 2014 (with M.
Miletkov, & A. Poulsen).
“Investor
Protection and the Role of Firm-level Transparency in Attracting Foreign
Investment.” Southern Finance Association Annual Meeting, Fajardo, PR, November
2013, (with B. Hansen, & M. Miletkov).
“Insider Trading
Patterns.” Financial Management Association Annual Meeting,
Chicago, IL, October
2013, (with L. Biggerstaff, & D. C.
Cicero).
“Forecasting
Residential Real Estate Price Changes from Online Search Activity.” American
Real Estate Society Annual Meeting, San Diego, CA, January 2013 (with E.
Beracha).
“Importing
Governance: A Multinational Study of the Determinants and Effects of Having
Foreign Independent Directors.” European Finance Association Annual Meeting,
Copenhagen, Denmark, August 2012 (with M. Miletkov, & A. Poulsen).
“Forecasting
Residential Real Estate Price Changes from Online Search Activity.” American
Real Estate Society Annual Meeting, Pete Beach, FL, April 2012 (with E.
Beracha).
“Do
Firms Adjust to a Target Board Structure?” International Conference on
“Financial Intermediation, Competition and Risk,” sponsored by the
International Finance and Banking Society, Rome, Italy, June 2011, (with D.
Cicero, & T. Yang).
“Are
Insider Purchases at Firms with Advertising Investments Incrementally
Informative?” Eastern Finance Association Annual Meeting, Miami, FL, April 2010
(with K. Joseph).
“Endogeneity and the Dynamics of Internal Corporate Governance.” American Economic
Association Annual Meeting,
San Francisco, CA, January 2009 (with J. Linck, & J. Netter).
“Financial
Development and the Evolution of Property Rights and Legal Institutions.”
Southern Finance Association Annual Meeting, Key West, FL, November 2009 (with
M. Miletkov).
“Endogeneity and the Dynamics of Internal Corporate
Governance.” Western Finance
Association Annual Meeting, Big Island, HI, June 2008 (with J. Linck, & J. Netter).
“Corporate
Boards and Regulation: The Effect of the Sarbanes-Oxley Act and the Exchange
Listing Requirements on Firm Value.” Southern Finance Association Annual
Meeting, Destin, FL, November 2006.
“Institutional Investors and the Performance of Private Placements.” Financial Management Association (FMA) Annual Meeting, Salt
Lake City, UT, October 2006
(with M. Hertzel, & J. Linck).
Florida State
University, November 2019. St. John’s University,
April 2018; University of South
Carolina, December 2016; Wichita State University, November 2016; Auburn University,
October 2016; University of Oklahoma, September 2016; Iowa State University, April 2016; Securities and
Exchange Commission, April 2016; University of Mississippi, December 2015;
University of South Florida, October 2014; University of Missouri, February
2012; Texas A&M, December 2011
Institute for International Business
Research Grant, University of Kansas, 2013, “International Tax Haven Expertise
of Directors and its Impact on Corporate Financial Policy” ($5,000)
Institute for International Business
Research Grant, University of Kansas, 2011/2012,
“The Determinants and Consequences of Importing Directors” ($16,400)
New Faculty
General Research Fund, University of Kansas, Summer 2009, “The Structure,
Evolution and Regulation of Corporate Governance, and its Effect of Firm Value
and Performance” ($3,000)
Koch
Foundation Fellowship, KU School of Business. (2018 - 2020)
Best Paper
in Investments (Semifinalist), Financial Management Association Annual Meeting, 2017
Guy O. and Rosa
Lee Mabry Award for Best Paper in
the KU School of Business, 2017
Nominated
(Finalist) for the Financial Review Reader’s Choice Best Paper Award in 2015.
Outstanding Paper in International
Finance, Eastern Finance Association (EFA) Meeting, Eastern Finance
Association. (2014)
Best Paper (Housing Category), 2012 American Real Estate Society
(ARES) Meeting. (2012)
Guy O. and Rosa
Lee Mabry Award for Best Paper in
the KU School of Business. (2012)
Best
Student Paper Award, Southern Finance Association Meetings. (2006)
A. List of Courses Taught (since Fall 2014; on leave in 2017)
Doctoral
Seminar in Corporate Finance (PhD), Fall 2019
Business
Investment \& Valuation (MBA), Spring 2019
Empirical
Methods in Finance (PhD), Fall 2018
Business
Investment & Valuation (MBA), Spring 2018
Doctoral
Seminar in Corporate Finance (PhD), Spring 2018
Corporate
Financial Policy (Undergrad), Fall 2016
Current
Research in Finance (PhD), Fall 2016
International
Finance (MBA), Spring 2016
Doctoral
Seminar in Corporate Finance (PhD), Spring 2016
Current
Research in Finance (PhD), Fall 2015
International
Finance (MBA), Spring 2015
Doctoral
Seminar in Corporate Finance (PhD), Spring 2015
Corporate Financial Policy (Undergrad),
Fall 2014
B. Graduate and
Postgraduate Advising Record (with candidate’s initial placement)
Yaoyi Xi, Ph.D., Finance, 2018 (San Diego State University)
Zhaozhao
He, Ph.D., Finance, 2016 (University of New Hampshire)
Jian
Huang, Ph.D., Finance, 2013 (Towson University)
Chao Jiang, Ph.D., Finance 2016 (University of South
Carolina)
Minjie Huang, Ph.D., Finance 2016 (University of
Louisville)
Suzette
Myser, Ph.D., Public Administration, 2016 (University of Central Florida)
Minghui
Ma, Ph.D., Marketing, 2015 (Appalachian State University)
Salah Alsayaary, Ph.D.,
Economics, 2013 (Saudi Arabian Monetary Agency)
Duane Myer, Ph.D.,
Marketing, 2013 (Pepperdine University)
Gokhan Torna, Ph.D., Finance, 2013 (Stony Brook
University)
Zelin Zhang, Ph.D., Marketing, 2012 (Renmin University,
China)
C. Honors and Awards
for Teaching
MBA Finance Faculty Outstanding Teaching
Award. (2019)
MBA Finance Faculty Outstanding Teaching
Award. (2018)
“Mentor Recognition” Award for Outstanding
Contributions in Support of Doctoral Students, (Awarded by the Association of
Business Doctoral Students of KU School of Business). (2018)
“Mentor
Recognition” Award for Outstanding Contributions in Support of Doctoral
Students, (2016)
Finalist (Top
Five), KU School of Business Faculty Henry A. Bubb Award for
Outstanding Teaching, School of
Business. (2015)
Byron
T. Shutz Award for Excellence in Teaching, University of Kansas. (2014)
Outstanding
Educator Award, Beta Gamma Sigma Honor Society, University of Kansas. (2014)
University of Kansas Celebration of
Teaching Excellence Honoree (Based on nominations by MBA students of the KU
School of Business). (2013)
“Mentor
Recognition” Award for Outstanding Contributions in Support of Doctoral
Students, (2013)
Finalist (Top
Five), KU School of Business Faculty Henry A. Bubb Award for
Outstanding Teaching, School of
Business. (2011)
Finalist (Top
Five), KU School of Business Faculty Henry A. Bubb Award for
Outstanding Teaching, School of
Business. (2010)
School
of Business, Academic Area Director, Analytics, Information Systems \&
Operations Management (2019 - Present)
School
of Business, PhD Team. Member. (2018 - Present)
School
of Business, MBA Admissions Committee. Member. (2014 - Present)
School
of Business, MBA Team. Member. (2014 - Present)
School
of Business, Research, Evaluation & Development (RED) Team. Member. (2018 -
Present)
School
of Business, Finance, Faculty Recruiting Committee. Member. (2017-2018)
School
of Business, Post-Tenure Review Committee. Member. (2016)
School
of Business, Promotion and Tenure Committee. Member. (2015 - 2016)
School
of Business, Faculty Advisory Committee (FAC). Member. (2014 - 2015); Chair
(2015)
School
of Business, Finance, Faculty Recruiting Committee. Member. (2014 - 2015)
School of Business, Finance Seminar Series.
Coordinator. (2011 - 2014)
School of Business, Beta Gamma Sigma. Faculty Advisor. (2011 - 2014)
School
of Business, Finance, Faculty Recruiting Committee. Member. (2011 - 2012)
School
of Business, Finance, Faculty Recruiting Committee. Member. (2008 - 2009)
University
Committee on Sabbatical Leaves. Member. (Fall 2018 - Present)
University
Tuition Advisory Committee. Member. (2018; 2016)
Restricted
Research Committee. Member. (Fall 2015 - Spring 2017)
Chancellors
Distinguished Teaching Award Committee, 2015. Member. (Summer 2015)
University
Calendar Committee. Chair. (Fall 2014 - Summer 2015)
University
Calendar Committee. Member. (Fall 2012 - Summer 2015)
KU
Foreign Language and Area Studies Fellowship Selection Committee. Member. (2013
- 2015)
Kansas
African Studies Center (KASC) Executive Committee. Member. (Fall 2011 - Fall
2014)
Journal of Corporate Finance, Associate Editor. (2018 - Present)
Financial
Review,
Associate Editor. (2018 - Present)
Journal of International
Business Studies,
Editorial Review Board. (2020 - Present)
Journal of
Business Research,
Editorial Review Board. (2018 - Present)
Eastern Finance Association Meeting,
Corporate Finance Conference Track Co-Chair, Boston, MA. (April 2020)
Financial Management Association European
Conference, Program Committee, Member, Glasgow, Scotland. (June 2019)
Fifth Annual Conference on Financial
Market Regulation (organized by the SEC, CFA Institute, Lehigh University, and
University of Maryland), Program Committee, Member. (May 2018)
Financial Management Association Meeting,
Program Committee, Member, Las Vegas, NV. (October 2016)
Financial Management Association Meeting,
Program Committee, Member, Orlando, FL. (October 2015)
Financial Management Association Meeting,
Program Committee, Member, Nashville, TN. (October 2014)
Eastern Finance Association Meeting,
Corporate Finance Conference Track Co-Chair, Pittsburgh, PA. (April 2014)
Southern Finance Association Meeting, Program Committee, Member, Charleston, SC. (November 2012)
Eastern Finance Association Meeting, Program Committee, Member, Savannah, GA. (April 2011)
Southern Finance Association Meeting, Program Committee, Member, Key West, FL. (November
2011)
Research Grants
Council (RGC) of Hong Kong, 2018; 2014
Social Sciences and Humanities Research
Council of Canada, 2018
Israel Science Foundation (ISF), 2016
Financial
Management Association Annual Meeting, October 2017
Financial
Management Association Annual Meeting, October 2016
Midwest
Finance Association Annual Meeting, March 2016
Financial
Management Association Annual Meeting, October 2014
Financial
Management Association Annual Meeting, October 2013
Eastern Finance
Association Annual Meeting,
April 2013
Financial
Management Association Annual Meeting, October 2012
University
of Kansas Conference on Early Stage Venture Investing, March 2012
Financial
Management Association Annual Meeting, October 2011
Southwind
Finance Conference, University of Kansas, April 2011
Financial
Management Association Annual Meeting, October 2010
Eastern
Finance Association Annual Meeting, April 2010
Conference on Empirical Legal Studies, November
2009
Financial
Management Association Annual Meeting, October 2007
Eastern
Finance Association Annual Meeting, April 2007
Southern
Finance Association Annual Meeting, November 2006
Financial
Management Association Annual Meeting, October 2006
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Securities and
Exchange Commission (SEC) Division of Economic and Risk Analysis Director’s
Award, 2017 (For outstanding individual contributions to the Office of
Litigation Economics)
Engineer,
NLNG (Shell Gas/Agip/TotalFinaElf/NNPC Joint Venture), 1999 – 2002
Assistant Brand Manager, Procter & Gamble (Central Europe, Middle East and Africa), 1998 – 1999
Technical Data Manager, ExxonMobil, 1997
– 1998
Last
updated: March 17, 2020