ÐÏࡱá>þÿ CEþÿÿÿBÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿì¥Áq` ðR¿(7bjbjqPqP;<::T>ÿÿÿÿÿÿ¤âââââââöžžž8ÖL"<ö¹ 6jj"ŒŒŒŒŒŒ       $ï!hW$>: 9âZŒŒZZ: â⌌s àààZâŒâŒ àZ ààââàŒ^ 02€‰àÈÊžrîà ‰ 0¹ à•$`j•$à•$âà(Œð|bàÞú`ŒŒŒ: : ÊŒŒŒ¹ ZZZZööö$„ööööööââââââÿÿÿÿ D–öN5ÿ (Name)Ph.D Curriculum Vitae, April 2009 Finance Department Date of Birth: February 22,1959 University of Minnesota Citizenship: U.S.A. 321-19 Avenue South SEX: Minneapolis Major: Professional Title: Office Telephone: E-mail: Mobile: School Website: Fax: ACADEMIC EXPERIENCE Minnesota Banking Industry Professor of Finance,Carlson School of Management,University of Minnesote,2002-present Associate Professor,Finance Department, Carlson School of Management, University of Minnesote,1998-2002 Visiting Scholar,Financial Markets Group,London School of Economics,December 1995-1996 …… OTHER EXPERIENCE Consultant,Federal Reserve Bank of Cleveland,1996 Research Analyst,CoreStates Financial Corp/Philadelphia National Bank, 1981-1983 ………. EDUCATION The Wharton School,University of Pennsylvania, Philadelphia,PA Ph.D.,Finance,August 1990 Ph.D.Thesis Title: Ph.D.Thesis Research was performed at: M.B.A.,Finance,Mar 1982 Princeton University,Princeton,NJ A.B., Mathematics,June 1980 RESEARCH INTERESTS Financial contracting, security design, and corporate finance. Structure and regulation of financial institutions. REFEREED JOURNAL ARTICLES “Risk Overhang and Market Behavior,” (with Anne ). Journal of Business 74:4 (October 2001), 591-612. “Delegated Monitoring and Bank Structure in a Finite Economy.” Journal of Financial Intermediation, 4:2 (April 1995), 158-187. …… WORKING PAPERS AND WORK IN PROGRESS “Risk Overhang and Loan Portfolio Decisions,” (with Robert and Anne ). May 2006. “When Do Institutional Investors Become Activists? Trading Incentives and Shareholder Activism,” (with Chen Liu). September 2003. OTHER PUBLICATIONS “The Social Cost of Bank Capital,” (with Gary Gorton). Proceedings of the 32nd Annual Conference on Bank Structure and Competition, May 1996, Federal Reserve Bank of Chicago. …… COURSES TAUGHT MBA: Corporate Finance; Managing Financial Institutions. Non-Degree Executive Education: Financial Strategy. …… TEACHING AWARDS Teaching commendations from Kellogg Dean's Office, every academic year 1991-1998. …… SCHOOL SERVICE Chair, Carlson Finance Department, 2008- Carlson Finance Department Recruiting Committee, 2006-2007 …… PROFESSIONAL ACTIVITIES Editorial Activities: Associate Editor, Journal of Financial Intermediation, January 2002-present Associate Editor, Journal of Finance, March 2000-present …… Association Service: Society for Financial Studies Nominating Committee, 2000 …… Conferences, 2005-present Program Committee and session chair, Western Finance Association Meetings, June 2008. Program Committee and session chair, Western Finance Association Meetings, June 2005. & & Seminar Presentations, 2005-Present American University, November 2008 Stanford University, May 2006 & & kX™Qô‹f:10!jHr-N„v¢~r‚W[SO:Nƒ‹O,  "BDZ\`rÚúü N ˜ ° ðܰ¤°gR:gRgR:/hœÌhôòB*CJPJ\aJnHo(phtH)hôòB*CJPJ\aJnHo(phÿtH/hœÌhôòB*CJPJ\aJnHo(phÿtH hôòCJPJ\aJnHo(tH&hœÌhôòCJPJ\aJnHo(tHhœÌhôòCJ\aJ#hôò5CJPJ\aJnHo(tH2h±[bhôò5B*CJ PJ\aJ nHo(phÿtH&hœÌhôò5CJ PJ\aJ nHtHhôòhôòPJ\nHo(tH  "\^` À # q Ñ ð 8  Í Î ã a Õ ïßßßßßïïïïïßïïïßïÅ«$„ë„ú&dPÆÿWDãý^„ë`„úa$gdôò$„ñ„ú&dPÆÿWDãý^„ñ`„úa$gdôò$&dPÆÿa$gdôò$&dPÆÿa$gdôòª6&7ýý° ² À  " # . / d f g l m ½ Ð Ñ êÒ½¥ê½‘kYkA½¥)/hœÌhôòB*CJPJ\aJnHo(phÿtH/hÏYÕhôòB*CJPJ\aJnHo(phÿtH#hÏYÕhôòCJPJ\aJnHtH&hÏYÕhôòCJPJ\aJnHo(tH#hôò5CJPJ\aJnHo(tH&h'×hôò5CJPJ\aJnHtH/h?3“hôòB*CJPJ\aJnHo(phtH)hôòB*CJPJ\aJnHo(phÿtH/h?3“hôòB*CJPJ\aJnHo(phÿtH)hôòB*CJPJ\aJnHo(phtHÑ ð   0 8 Ž “ Ì î ï Õ â : H J K L Q R ] j û ü íÙÈÙÈÙÈÙÈí®––m–ÈXÈíȁ@/h’hôòB*CJPJ\aJnHo(phÿtH)h’hôò5CJPJ\aJnHo(tH&hôòB*CJPJ\aJnHphÿtH)hôòB*CJPJ\aJnHo(phÿtH/hvwÞhôòB*CJPJ\aJnHo(phÿtH2hvwÞhôò5B*CJPJ\aJnHo(phÿtH hôòCJPJ\aJnHo(tH&hœÌhôòCJPJ\aJnHo(tH#hôò5CJPJ\aJnHo(tHÕ ; K L ] œ ð ü ý f–·ì 7åååËååµ¥˜˜˜˜˜˜˜˜˜ &dPÆÿgdôò$&dPÆÿa$gdôò$„Ô&dPÆÿWD^`„Ôa$gdôò$„ñ„ú&dPÆÿWDãý^„ñ`„úa$gdôò$„ë„ú&dPÆÿWDãý^„ë`„úa$gdôòü  '+¤¶ÅÑ ¬¿1456íÜíį›Š›Š›¯r[¯C[/hò»hôòB*CJPJ\aJnHo(phÿtH,hò»hôòB*CJPJ\aJnHphÿtH/hò»hôò5B*CJPJ\aJnHphtH hôòCJPJ\aJnHo(tH&h0$”hôòCJPJ\aJnHo(tH)hôòB*CJPJ\aJnHo(phÿtH/h«8òhôòB*CJPJ\aJnHo(phÿtH hôò5CJPJ\aJnHtH#hôò5CJPJ\aJnHo(tH7g›¬¿þ23456P˜¶ÿ7:;_±òòòòßßßßßòòÌ̹¹¹¹ò¨ Æ„&dPÆÿgdôò„¼&dPÆÿWDú`„¼gdôò„H&dPÆÿWD,`„Hgdôò„Ô&dPÆÿWD^`„Ôgdôò &dPÆÿgdôò6PQd€—˜¬­¶¸þÿ679:;_`ij¤­°±º»¼½$&çϸ¤¸¸¸Ï¸¸¸¤ÏçϏϸ¤¸¸wÏ¸¸`¤,h²YhôòB*CJPJ\aJnHphÿtH/h²YhôòB*CJPJ\aJnHo(phÿtH)hôòB*CJPJ\aJnHo(phÿtH&hôòB*CJPJ\aJnHphÿtH,hò»hôòB*CJPJ\aJnHphÿtH/hò»hôòB*CJPJ\aJnHo(phÿtH/h²Yhôò5B*CJPJ\aJnHphtH%±¼?@SšÝ#\Ÿ °ø"K‡èÕÕÈÈÕÕÕÈÈÈÕÕÈÈÈÕÕÈÈÈÕÕ &dPÆÿgdôò„H&dPÆÿWD,`„Hgdôò Æ„„Ô&dPÆÿWD^`„Ôgdôò&+,89<?@ST™š´µÜÞ#œžŸ °÷ø")HIe€„…‡‰Š¢¥»éÔéÔÀÔ¨¨éÔéÔéÔéÔÀԐéÔÀÔ¨éÔéÔÀ¨éÀÔéÀÔÀÔéÀ¨y,hôò5B*CJPJ\aJnHo(phtH/h¤hµhôò5B*CJPJ\aJnHphtH/hò»hôòB*CJPJ\aJnHo(phÿtH&hôòB*CJPJ\aJnHphÿtH)hôòB*CJPJ\aJnHo(phÿtH,hò»hôòB*CJPJ\aJnHphÿtH/‡Š¢£¤¥»@OPež¡¢¼þ&ªÔÚÜ$j¦ÄÆìßßßßßììßßßìììßìììììßßììßß &dPÆÿgdôò„H&dPÆÿWD,`„Hgdôò»@LNOPež ¡¢¯²³¼ðýþ "¨ªÐÔØÜ éÔÀ¨ééÔÀÔ¨{cIéÀÔÀÔéÔéÔÀ¨{c2h 2éhôò5B*CJPJ\aJnHo(phÿtH/h 2éhôò5B*CJPJ\aJnHphÿtH)hôò5B*CJPJ\aJnHphtH/hó ¸hôò5B*CJPJ\aJnHphtH/hò»hôòB*CJPJ\aJnHo(phÿtH&hôòB*CJPJ\aJnHphÿtH)hôòB*CJPJ\aJnHo(phÿtH,hò»hôòB*CJPJ\aJnHphÿtH$(fhj¢¤¦¾ÂØþ6H6æÎ·£Žv£Žv_J_979U!hâGRhôò5PJ\nHo(tH)hôò5B*CJPJ\aJnHphÿtH,hôò5B*CJPJ\aJnHo(phÿtH/hò»hôòB*CJPJ\aJnHo(phÿtH)hôòB*CJPJ\aJnHo(phÿtH&hôòB*CJPJ\aJnHphÿtH,hò»hôòB*CJPJ\aJnHphÿtH/hó ¸hôò5B*CJPJ\aJnHphtH2h 2éhôò5B*CJPJ\aJnHo(phÿtHÆÈÊÌÎÐÒÔÖØ 6¦6¨6ª6Ì6Î6Ð6â6ä6æ6ü6þ67òòòòòòòòòòÛòÙÐÐÙÄÂÙÄÂÙ „üÿ„&`#$gdôò„0ý^„0ýgdôò„ÿ„ú&dPÆÿWDƒý^„ÿ`„úgdôò &dPÆÿgdôòÅN›OÂS€ÿ 20å‹hˆ´Üº ?ôܺ @\G¬ AœG¬ BÜG¬ C¤I¬ DäI¬ E$J¬ FdJ¬ G¤J¬ H4îÆ ItîÆ žÙÙ88§ +3:HVVcEOZZdû û ’ ’ › µ µ ¾ ”      !"š§ßß>>£±±%%––29DTbeeNYcff  š ¥ ¥ ½ È È ”   !"B!*€urn:schemas-microsoft-com:office:smarttags€country-region€="*€urn:schemas-microsoft-com:office:smarttags €PlaceName€=#*€urn:schemas-microsoft-com:office:smarttags €PlaceType€8*€urn:schemas-microsoft-com:office:smarttags€City€9 *€urn:schemas-microsoft-com:office:smarttags€place€9*€urn:schemas-microsoft-com:office:smarttags€State€ Iì#"! # "# " "##" "#  " #" # &1Fwˆëü.j|²Ä3DVe|¤¯ÅÐ1Of…•ì ð ò þ ÿ QT‘”ˆ&€ˆòüt|¹Ä9D%1Yf‚•ßæþ1ÿ  š  Ý  ø  T‘”333333333333333333‡ ¥ L e ž ¢ U ’ ß ì Te‘”T‘”åN]*Jôò"Bö”ÿ@€ˆR 4 ÿ “ÐÐ@ÐÐ6ÿÿUnknownÿÿÿÿÿÿÿÿÿÿÿÿG‡z €ÿTimes New Roman5€Symbol3& ‡z €ÿArial;†‹[SOSimSunCˆ .PMingLiU°e0}fԚ qŒ¤h–¬ã—¬ã#1 #1 !-!),.:;?]}¨·ÇÉ    & 6"0000 0 0 00000ÿÿÿ ÿ ÿÿÿÿÿ=ÿ@ÿ\ÿ]ÿ^ÿàÿ([{·  0 0 00000ÿÿ;ÿ[ÿáÿåÿ  ´œ‚€2MM 2ƒqHX)ðÿ?¨ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿôò2ÿÿD–öN5ÿ******þÿà…ŸòùOh«‘+'³Ù0d˜¨´ÀÌØè ô  , 8DLT\¨¸½¼þ5£º***Normal***1Microsoft Office Word@@T„WàÈÊ@šG{àÈÊ#1 þÿÕÍ՜.“—+,ù®0¬ X`lt|„ Œ”œ¤¨.Mæ  þÿÿÿ !"#$%&'()*+,-./01þÿÿÿ3456789þÿÿÿ;<=>?@AþÿÿÿýÿÿÿDþÿÿÿþÿÿÿþÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿRoot Entryÿÿÿÿÿÿÿÿ ÀF¨‰‰àÈÊF€1Tableÿÿÿÿÿÿÿÿ•$WordDocumentÿÿÿÿÿÿÿÿ;<SummaryInformation(ÿÿÿÿ2DocumentSummaryInformation8ÿÿÿÿÿÿÿÿÿÿÿÿ:CompObjÿÿÿÿÿÿÿÿÿÿÿÿmÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿþÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿþÿ ÿÿÿÿ ÀFMicrosoft Office Word Îĵµ MSWordDocWord.Document.8ô9²q