Dr. Michael Muoghalu
MBA Director & University Professor

Dr. Michael Muoghalu MBA Program Director University Professor Kelce College of Business 620.235-4594 voice 620.235-4578 fax mba@pittstate.edu or mmuoghal@pittstate.edu

EDUCATION:

1985 - 1987 D.B.A. (Finance), Louisiana Tech University, Ruston, LA
1984 - 1985 M.B.A. (Finance), Louisiana Tech University, Ruston, LA
1982 - 1983 M.B.A. (Business Administration), Northwestern State University, Natchitoches, LA
1981 - 1982 B.S. (Radiologic Technology), Northwestern State University, Natchitoches, LA
1974 - 1977 D.C.R. (Medical Radiography), College of Radiographers, London, England

PROFESSIONAL EXPERIENCE:

Present: MBA Program Director & University Professor of Finance, Pittsburg State University, Pittsburg, KS
2001-2006: MBA Program Director & Professor of Finance, Pittsburg State University
2000 - Present: Professor of Finance, Pittsburg State University, Pittsburg, KS
1993 - 1999: Associate Professor of Finance, Pittsburg State University, Pittsburg, KS
1988 - 1993: Assistant Professor of Finance, Pittsburg State University, Pittsburg, KS
1987 - 1988: Associate Professor of Finance, Grambling State University, Grambling, LA

PRIMARY TEACHING / RESEARCH INTERESTS:

Corporate Finance
Investments / Portfolio Management
International Finance
Real Estate Finance
Financial Institutions & Markets
Financial Strategy
Capital Market Research
Banking Industry Research
International Banking Research
MBA Experience

DISSERTATION:

"The Economic Impact of Hazardous Wastes Mismanagement Lawsuits on Stockholders' Returns: A Capital Market Approach."

SELECTED JOURNAL PUBLICATIONS:

“Intermediation Behavior of the Financial Superstructure in Response toEnvironmental Stimuli: Theory, Issues and Further Empirical Evidence from Nigeria.” Journal of African Business.  2007.  Volume 7, No. 2 (Forthcoming). Co-authored.

“Foreign Direct Investment Growth, Inflation and the Nigerian Economy, 1960 –2005.” Indian Development Review.  (2007). (Forthcoming). Co-authored.

“Foreign Investment Burden, Exchange Rates and External Debt Crises in Africa: Further Empirical Evidence from Nigeria.” Academy of Taiwan Business Management Review, (April 2007) Vol. 3, No. 1. (April), pp. 7-15. Co-authored.

“Output-Debt-Relation in an Emerging Economy: The African Experience."Journal of Management Research. (April, 2006). Vol. 6, No 1, pp. 3-17.  Co-authored.

”Effects of External Debt Burden on LDC’s Investments: Empirical Evidence from Nigeria.”  African Journal of Finance and Management. Vol. 14, No. 2 (2006), pp 3-18. http://www.ajol.info/viewissue.php?jid=148&ab=ajfm.  Co-authored.

“External Debt Burden, Foreign Direct Investment Remittances and Economic Growth: Empirical Evidence from Nigeria”. African Economic and Business Review, Volume 4, Number 1, Spring 2006 Edition, PP. 25-47. Co-authored.

“Determinants of Foreign Direct Investments in Nigeria:  Theory and Empirical Extensions” Journal of Banking and Finance Vol. 8, No. 1 (2006), pp 2-19.  Co-authored.

“Development Aid Flow and Poverty Reduction in Africa.” Journal of Sustainable Development in Africa. Volume 8, No. 3. Pg. 240-258. (Online Journal: ISSN:1520-550 Fayetteville State University, Fayetteville, North Carolina: http://www.jsd-africa.com/Jsda/Fall2006/article08_02.htm. Co-authored.

“Does External Debt Burden Always Act As Disincentive To Investments For LDCs?: Empirical Evidence From Nigeria.” International Journal of Nigerian Studies and Development. Volume 12, No. 1 (2006), Pg. 42-50.  Co-authored.

“Electronic Media as Instructional Materials in Social and Business Studies and as Instruments of Social Change: Empirical Evidence from Nigeria.” ASBBS E-Journal. Vol. 2, No. 1. http://www.asbbs.org/publications.html.  Co-authored. Paper also received the “2006 Best Paper Award in Educational Leadership Track” presented at the 13th Annual Conference of ASBBS Las Vegas (February 23 to 26, 2006).

“Financial Management Imperatives of Intermediation Function of Financial Institutions: Empirical Evidence from Nigeria.” Journal of Banks and Bank Systems.  Vol. 1, Issue 3 (2006), pp. 116 – 131.  Co-authored.

“Exchange Rate Determination, Foreign Investment Burden and External Debt Crisis in Less-Developed Countries:  Nigerian Experience.”  International Journal of Business and Economics Perspectives. Volume 1, Number 1 (2006), pp. 1-15.  Co-authored.

“European Union and The Euro: Lessons for Africa, OAU and ECOWAS”. Journal of Finance and Economic Research; Volume 1, Number 1, June, 2006. “Supply Side Models of Intermediation Behavior: Preliminary Empirical Evidence from Nigerian Commercial Banks.”  Journal of Sustainable Development in Africa. Volume 7, No. 2. Pg. 137-159. (Online Journal: ISSN: 1520-550 Fayetteville State University, Fayetteville, North Carolina: www.jsd-africa.com/Jsda/Fall 2005/article.htm

“Petroleum Sector and Industrial Production Indices of an Emerging African Economy: Econometric Evidence from Nigeria.” Journal of Business and Behavioral Sciences.  (2006) Vol. 13, No. 1 (Fall) pp. 217 - 233.  (Co-authored).

“The Impact of Legal and Regulatory Environments on Financial Intermediation in an Emerging Sub-Saharan Economy: Evidence from Nigerian Commercial Banks.”  Journal of Sustainable Development in Africa. Volume 7, No. 1. Pg. 1-27.  (Online Journal: ISSN: 1520-550 Fayetteville State University, Fayetteville, North Carolina: www.jsd-africa.com/Jsda/Spring2005/article.htm. (Co-authored).

“The Political Economy of Multinational Conglomerates In Nigeria," Journal of African Business.  (2004). Volume 6, No. 1/2, pp. 119-137. (Co-authored).

“The Nigerian Financial Superstructure, Financial Intermediation, and Environmental Factors: Issues, Empirical Evidence, and Managerial Implications”. Journal of African Business. Vol. 5, No. 2; 2004.  Co-authored.

“External Indebtedness and The Economies Of Less Developed Countries: An Econometric Extension Of Evidence From Nigeria.”  Journal of Business and Behavioral Sciences, (2004) Vol. 12, No 1, pp. 6-16. (Co-authored).

"Financial Reforms and Commercial Banks' Operations in Nigeria: A Comparison of Two Decades". Union Digest,  Vol.8 No.2 (June 2004). Pp. 1-18.

“Empirical Analysis of Changes in the Structure of U.S. Banking since the 1960's: Time Series Analysis of Trends in Banking Consolidation.”  Journal of Industrial, Business & Economic Research.  Vol. 8, No. 1 (June 2004) pg. 1-24. (Co-authored).

“Economic Growth and the Stages of Development of Financial Intermediation of Commercial Banks in an Emerging Market: The Case of Nigeria.”  The Journal of Banking and Finance (FITC). (2004)  Vol. 6, No. 2, Pp. 2-14. (Co-authored).

“Some Theoretical Considerations of Cost-Benefit Analysis of Project Abandonment: Experience From An Emerging Economy.”  Journal of Accounting and Finance Research.  (2004) Vol. 12, No. 4 (Fall), pp. 15-27. (Co-authored).

"The Effects of Environmental Factors on the Intermediation Function of the Nigerian Financial Superstructure," Journal of African Business.  (2004) Vol. 5, No. 2, pp. 137 - 161. (Co-authored).

“Contending with the Challenges and Imperatives of Marketing Insurance Services in Sub-Saharan Country: The Case of Nigeria.”  Journal of Economics and Business Sciences (2002).  Vol. 1 N0. 1. pp 1 –18. (Co-authored).

“Environmental Correlates of the Intermediation of the Financial Superstructure: Preliminary Evidence from Nigeria.”  FirstBank Quarterly Review,  (2002) Vol 3, No. 3,  P. 50-56.  (Co-authored).

“Financial Markets” Operations and Aggregate Economic Activity:  An Econometric Investigation of the Nigerian Experience”.  The Journal of Banking and Finance  (2002) Vol. 5 N0. 2. pp 25 –42. (Co-authored).

“Analysis of the Financial Markets’ Operations and Macroeconomic Performance of an African Economy.” (2002).  Journal of Business Research Vol. 1 No. 1.  P. 71 – 83. (Co-authored).

“Net Intermediation Behavior of the Financial Superstructure: A Comparative Evidence from Commercial Banks and Insurance Companies in Nigeria.” (2002).  Nigerian Business and Social Review, Vol. 1, No. 1, P. 1- 19. (Co-authored).

“An Aggregate and Cross-Sectional Analysis of the Effect of Changes in Corporate Bond Ratings on Stock Prices.”  Nigerian Journal of Banking and Finance, (2001) Issue 4, P. 63 – 76. (Co-authored).

"Empirical Analysis of the Changes in the Structure of US Banking since the 1960s: Time Series Analysis of Trends in Banking Consolidation.”  Journal of Industrial, Business & Economic Research (2001) Vol. 5, No 1.

"Empirical Analysis of the Changes in the Structure of US Banking since the 1960s: Time Series Analysis of Trends in Banking Consolidation." Journal of Industrial, Business & Economic Research. 2001

"The Impact of the Regulatory Environments on Financial Intermediation in an Emerging Sub-Saharan African Economy: The Nigerian Experience." Co-authored. The Nigerian Journal of Financial Research. 2001.

"External Debt Overhang and Economic Performance of Nigeria: An Empirical Investigation." Co-authored. Journal of Monetary Economics. 2001.

"Banking Structure, Fiscal Variables, and State-Level: Economic Growth Revisited." Co-authored. American Association of Behavioral and Social Sciences Journal. 2000.

"The Effect of Changes in Corporate Bond Ratings on Stock Prices: An Aggregate and Cross-Sectional Analysis." Journal of Industrial, Business & Economic Research. 1999.

"Is Project Abandonment an Evil to be Exorcised at all Costs? Some Theoretical Extensions." Co-authored. African Journal of Theoretical and Applied Economics. 1999. Vol. 2, No. 2. 

"An Analysis of Banking Concentration in Kansas: Empirical Evidence 1987-1993." Co-authored. Kansas Business Review. 1995. Vol. 19, No. 1 (Fall): 16-21. 

"Hazardous Waste Lawsuits, Financial Disclosure, and Investors' Interests." Co-authored. Journal of Accounting, Auditing and Finance. 1995. Vol. 10, No. 2 (Spring): 383-400. 

"An Empirical Analysis of the Comparability of Disclosure Tendencies Across Industries: The Case of Hazardous Waste Lawsuits." Co-authored. Research in Accounting Regulation. 1995.  Vol. 9, pp. 105-117. 

"Some Financial and Public Policy Considerations of Oil Spills: The Case of Exxon Valdez." Oil and Gas Tax Quarterly. 1991. Vol. 39, No. 3 (Autumn): 65-85. 

"Alaska Oil Spill: Exxon's Mistake But Taxpayer's Penalty." Journal of Business and Economic Studies. 1992. Vol. 11, No. 2 (July): 31-47. 

"The Economic Impact of Superfund's Litigation on the Value of the Firm: An Empirical Analysis." Co-authored. Journal of Economics and Finance. 1992. Vol. 16, No. 3 (Fall): 73-87. 

"Anticipating Illegal Activities: Hazardous Waste Lawsuits and Petrochemical Stock Returns." Co-authored. Petroleum Accounting and Financial Management Journal. 1992. Vol. 11, No. 3 (Fall): 108-118. 

"Valuation of Toxic Waste Mismanagement Lawsuits: A Capital Market Approach." The International Journal of Finance. 1990.  Vol. 3, No. 3 (Autumn): 65-85.  (Co-authored).

"Hazardous Waste Lawsuits, Stockholder Returns, and Deterrence." The Southern Economic Journal. Vol. 57, No. 2 (October): 357-370.  Abstracted in Journal of Economic Literature. 1990.  (Co-authored).

SELECTED HONORS, AWARDS, AND GRANTS:

Kelce College of Business Faculty Award for Excellence in Research, 2007 (Pittsburg State University).

Kelce College of Business Faculty Award for Excellence in Research, 2006 (Pittsburg State University).

American Society of Business and Behavioral Sciences 2006 Best Paper of the Educational Leadership. “Electronic Media as Instructional Materials in Social and Business Studies and as Instruments of Social Change.”

Kelce College of Business Faculty Award for Excellence in Research, 2005 (Pittsburg State University).

Outstanding Paper in Economics Award 2002.  “Foreign Direct Investments and Economic Performance of Less Developed Countries: Empirical Evidence from Nigeria.” The Academy of Economics and Finance National Conference 2003.

Fulbright Senior Scholar Grant, 1999 – 2000 (University of Port Harcourt, Nigeria).

Rotary International Foundation Grant, 1998-1999 (University of Port Harcourt, Nigeria).

Kelce College of Business Faculty Award for Excellence in Research, 1996 (Pittsburg State University).

Kelce College of Business Excellence in Scholarly Activity in Finance, 1990 (Pittsburg State University).

OTHER PROFESSIONAL DEVELOPMENT ACTIVITIES:

Manuscript Reviewer:
Journal of African Business, 2003 - Present

Journal of Industrial, Business & Economic Research, 2000 - Present.

The Nigerian Journal of Financial Research, 2000 - Present .

African Finance and Economic Journal, 1996 - Present.

The African Economic and Business Review, 1997 - Present.

Journal of Economics and Finance, 1992 - Present.

International Journal of Finance, 1992 - Present.

Afro-Asian Journal of Finance and Accounting, 2006 – Present.

PROFESSIONAL AFFILIATIONS:

Academy of Accounting and Finance
Academy of Economics and Finance
African Finance and Economic Association
Financial Management Association
Midwest Finance Association
Southwestern Finance Association