KENNETH
J. MARTIN
College of Business
Administration & Economics 535
North Park Drive
Department of Finance Las
Cruces, NM 88005
P.O. Box 30001, MSC 3FIN (505)
526-4614
New Mexico State University
Las Cruces, NM 88003-8001
(505) 646-1236 (voice)
(505) 646-2820 (fax)
email: kjmartin@nmsu.edu
EDUCATION
Ph.D. Purdue University, 1987. Major: Finance, Minor: Econometrics
M.B.A. Oklahoma State University, 1980, Finance
B.S. Oklahoma State University, 1977, Accounting
A.B. Northern Oklahoma College, 1975, Computer
Science
RESEARCH INTERESTS
Corporate Control and Governance
Issues, Mergers and Acquisitions, Corporate Finance
ACADEMIC POSITIONS
Associate Professor, Department
of Finance, New Mexico State University, 1997-Present.
Assistant Professor, Department
of Finance, New Mexico State University, 1995 - 1997.
Assistant Professor, Department
of Finance, The University of Iowa, 1987 - 1995.
Graduate Teaching and Research
Assistant, Krannert Graduate School of Management, Purdue University, West
Lafayette, Indiana, 1983 - 1987.
Lecturer, Oklahoma State
University, Stillwater, Oklahoma, 1982 - 1983.
Instructor, Southwestern
Oklahoma State University, Weatherford, Oklahoma, 1981 - 1982.
PUBLICATIONS
Randall S. Thomas and Kenneth J.
Martin, “Litigating Challenges to Executive Pay: An Exercise in Futility?” Washington
University Law Quarterly, Volume 79, No. 2, 2001, pp. 569-613.
James F. Cotter and Kenneth J.
Martin, "Using Internet Data to Forecast Quarterly Earnings: A Real-Time
Case for Class Use", Financial
Practice and Education, Volume 10, No. 2, Fall/Winter 2000, pp. 222-230.
Randall S. Thomas and Kenneth J.
Martin, "The Determinants of Shareholder Voting on Stock Option Plans",
Wake Forest Law Review, Volume 35,
No. 1, Spring 2000, reprinted in Corporate Practice Commentator, Volume
41, 2000.
Randall S. Thomas and Kenneth J.
Martin, "The Effect of Shareholder Proposals on Executive
Compensation", University of
Cincinnati Law Review, Volume 67, No. 4, Summer 1999, abstracted in Bowne
Digest for Corporate & Securities Lawyers, Vol. 14, February 2000.
Randall Thomas and Kenneth J.
Martin, "Should Labor Be Allowed to Make Shareholder Proposals?" Washington Law Review, Volume 73, No. 1,
January 1998, pp. 41-80, reprinted in Securities Law Review, Volume 32,
1999.
Claudio Loderer and Kenneth
Martin, "Executive Ownership and Performance: Tracking Faint Traces,” Journal of Financial Economics, Volume
45, No. 2, August 1997, pp. 223-256.
Randall S. Thomas and Kenneth J.
Martin, “Using State Inspection Statutes for Discovery in Federal Securities
Fraud Actions”, Boston University Law
Review, Volume 77, No. 1, February 1997, pp. 69-107, reprinted in, Corporate Practice Commentator,
Volume 39, 1997 and Securities Law Review Volume 31, 1998.
Kenneth J. Martin, "The
Method of Payment in Corporate Acquisitions, Investment Opportunities, and
Management Ownership,” The Journal of
Finance, Volume 51, No. 4, September 1996, pp. 1227-1246.
Randall S. Thomas and Kenneth J.
Martin, "The Impact of Rights Plans on Proxy Contests: Reevaluating Moran v. Household
International," International Review
of Law and Economics, Volume 14, 1994, pp. 327-339.
Claudio Loderer and Kenneth
Martin, "Postacquisition Performance of Acquiring Firms", Financial Management, Volume 21, Autumn
1992, pp. 69-79.
Wilbur Lewellen, Claudio Loderer,
Kenneth Martin and Gerald Blum, "Executive Compensation and the
Performance of the Firm", Managerial
and Decision Economics, Volume 13, January-February 1992, pp. 65-74.
Kenneth J. Martin and John J.
McConnell, "Corporate Performance, Corporate Takeovers, and Management
Turnover", The Journal of Finance,
Volume 46, No. 2, June 1991, pp. 671-687.
Claudio Loderer and Kenneth Martin,
"Corporate Acquisitions by Listed Firms:
The Experience of a Comprehensive Sample", Financial Management, Volume 19, Winter 1990, pp. 17-33.
Wilbur Lewellen, Claudio Loderer,
and Kenneth Martin, "Executive Compensation and Executive Incentive
Problems: An Empirical Analysis", Journal of Accounting and Economics,
Vol. 9, No. 3, December 1987, pp. 287 – 310, reprinted in The Economics of
Executive Compensation, Edward Elgar Publishing Limited, 1998 (see letter
in Appendix IV).
WORKING PAPERS
Kenneth
J. Martin and Randall S. Thomas, "When is Enough, Enough? Market Reaction
to Highly Dilutive Stock Option Plans and the Subsequent Impact on CEO
Compensation."
PARTICIPATION AT CONFERENCES AND PROFESSIONAL MEETINGS
1. Paper presentations
at professional conferences
"Market Reaction to Highly
Dilutive Stock Option Plans," Law and Entrepreneurship Research Conference
at Northwestern Law School of Lewis & Clark College, October 20, 2000.
"The Determinants of
Shareholder Voting on Stock Option Plans," 2000 Business Law Symposium on
Executive Compensation at Wake Forest University School of Law.
"Do Top Executives
Under-Estimate the Value of Their Stock Option Compensation?" 1999
Financial Management Association Meeting, Orlando.
“When
Should Labor Be Allowed to Use Rule 14A-8?”, 1996 Financial Management
Association
Meeting,
New Orleans.
“Executive
Stock Ownership and Firm Performance: Tracking Faint Traces,” 1996 Southwestern Finance
Association
meeting, San Antonio.
“An Empirical Analysis of Delaware’s
Inspection Statute: Does It Promote
Effective Shareholder Monitoring”, 1995 Financial Management Association
meeting, New York.
"The Method of Payment in
Corporate Acquisitions, Investment Opportunities, and Management
Ownership", 1995 Association of Financial Economists program at ASSA
meeting, Washington, D.C.
"The Method of Payment in
Corporate Acquisitions, Investment Opportunities, and Management
Ownership", 1994 Financial Management Association meeting, St. Louis.
"The Impact of Rights Plans
on Proxy Contests: Reevaluating Moran
v. Household International", co-authored with Randall Thomas, 1993 Financial Management Association
meeting, Toronto.
"Financial Stakes and
Corporate Acquisitions," co-authored with Claudio Loderer, 1992 Financial
Management Association meeting, San Francisco.
"The Effects of Outside
Director Stock Incentive Compensation Plans on Stockholder Wealth,"
co-authored with Scott Linn, 1992 Financial Management Association meeting, San
Francisco.
"Corporate Acquisition
Announcements: Time-Series
Patterns," co-authored with Claudio Loderer, Second Conference on
Financial Economics and Accounting, SUNY-Buffalo, 1991.
"Corporate Acquisition
Announcements: Time-Series
Patterns," co-authored with Claudio Loderer, 1990 American Finance
Association meeting, Washington, D.C.
"Corporate Acquisition
Announcements: Time-Series
Patterns," co-authored with Claudio Loderer, 1990 Financial Management
Association meeting, Orlando.
"Corporate Acquisitions by
NYSE and AMEX Firms: The Experience of a Sample of 10,000-Plus,"
co-authored with Claudio Loderer, 1989 Western Finance Association meeting,
Seattle.
"Corporate Performance,
Corporate Takeovers, and Management Turnover," co-authored with John J.
McConnell, 1987 Meeting of Association of Managerial Economists, Chicago.
"Firm Performance and
Managerial Discipline in Contests for Corporate Control," Conference on
the Distribution of Power Among Corporate Managers, Shareholders, and
Directors, Rochester, 1987.
2. Discussant
Financial
Management Association meetings – 2001, 1999, 1996, 1995, 1994, 1993, 1992
Western
Finance Association meeting - 1989
3. Other presentations
Financial
Management Association Doctoral Student Seminar - 1986
Financial
Markets Research Institute Conference, University of Iowa, 1989.
COURSES TAUGHT AT UNIVERSITY OF IOWA AND NEW MEXICO STATE UNIVERSITY
1. Undergraduate
Investment
Analysis (Elective course)
Financial
Information Technology (Elective course)
Financial
Management (Elective corporate finance course)
International
Finance (Elective course)
Theory
of Financial Decisions (Second corporate finance course, required of Finance
majors)
Introduction
to Financial Management (Core course required of all students)
2. MBA
Managerial
Finance (Core course required of all students)
Financial
Policy Decisions (Elective case course in corporate finance topics.)
International
Finance (Elective course)
3. Executive MBA
Managerial
Finance
Financial
Policy Decisions
4. Executive Development
Basic
corporate finance overview (3-hour session)
OTHER TEACHING RELATED ACTIVITIES
Served
as member of eight doctoral dissertation committees
Supervised
eight research reports for students in M.A. in Finance program
Supervised
six projects for students in undergraduate honors program
Service
on Master’s Oral Examination committees
SERVICE
1. Professional Service
Ad-Hoc Journal
Reviewing
Journal
of Finance
Journal
of Empirical Finance
Journal
of Financial and Quantitative Analysis
Financial
Management
The
Financial Review
Journal
of Financial Research
International
Review of Economics and Finance
Quarterly
Review of Economics and Finance
Program
Committee, 1993,
1996, and 1999 Financial Management Association Annual Meeting.
2. Service Work at the
University of Iowa
Academic Computing Committee,
1991-1993
Undergraduate Programs
Committee, 1992-1994
Department
of Finance MBA curriculum review committee, 1993
Department of Finance PhD
examination committee, 1993
3. Service Work at New Mexico State University
Faculty
Senate, Fall 1995, Fall 1997.
MBA
Curriculum Committee, 1996-1997.
Undergraduate
Curriculum and Policy Committee, 1997-2002.
Assessment
Committee, 2001-02.
Faculty
advisor to student Financial Management Association group, 2000-2002.
HONORS AND FELLOWSHIPS
Bank
of America Distinguished Professorship, 2001 (New Mexico State University)
Outstanding
Performance in Scholarly Research, 1997 (New Mexico State University)
Outstanding
Performance in Community Service, 1999 (New Mexico State University)
Executive
MBA Teacher of the Year, 1993 (University of Iowa)
College of Business Summer
Grant, 1990 (University of Iowa)
Old Gold Summer Fellowship, 1988
- 1989 (University of Iowa)
PROFESSIONAL AFFILIATIONS
American
Finance Association
Financial
Management Association