Wayne State University School of Business Administration

Mark E. Bayless

Associate Professor of Finance

mbayless@wayne.edu
(313) 577-4539

Academic Degrees

  • Ph.D., Washington University, 1979
  • BBA, University of Oklahoma, 1971

Teaching Interests

  • Corporate Finance
  • Micro Economics

Research Interests

  • Market Timing in Security Offerings
  • Failed Security Offerings
  • Executive Compensation

Professional Experience & Certification

  • General Motors, 1982-1983, Senior Research Analyst

Publications & Presentations

  • "Firm Characteristics, Market Conditions, and the Pattern of Performance After Seasoned Equity Offers" (With K. Price and M. Smoller), 2005, Applied Financial Economics, 15, 1-12.
  • October 7, 2004, Do Executive Stock Options Benefit Shareholders? Presented at the Financial Management Association Meeting, New Orleans, Louisiana.
  • April 23, 2004, Why New Issues Are Still Puzzling (with Nancy Jay). Presented at the Eastern Finance Association Meeting, Mystic, Connecticut.
  • "Is the Performance of Firms Following Seasoned Equity Issues Anomalous?" (with N. Jay), 2003, Journal of Banking and Finance, 27, 1273-1296.
  • October 9, 2003, Why New Issues Are Still Puzzling (with Nancy Jay). Presented at the Financial Management Association Meeting, Denver, Colorado.
  • November 23, 2002, Do Managers Intentionally Issue Overvalued Equity? (with Doug Cook). Presented at the Southern Finance Association Annual Meeting, Key West, Florida.
  • "An Examination of the Performance of SEOs Using a Comparison Period Approach", (with Jay), 2001, Journal of Economics and Business, 53, 359-386.
  • November 30, 2001, Is the Performance of Firms Following Seasoned Equity Issues Anomalous? (with N. Jay). Southern Finance Association Annual Meeting, Destin, Florida.
  • "Executive Compensation and Shareholder Wealth," (with Raman), 1999, Presented at the Financial Management Association annual meeting October 7, 1999 and the Southern Finance Association annual meeting November 19, 1999.
  • "Managerial Exploitation of SEOs: Evidence Using a Comparison Period Approach," (with Jay), 1999, Presented at the Eastern Finance Association April 16, 1999.
  • "The Persistence of Abnormal Returns After Seasoned Equity Offers," (with Price and Smoller), 1998, Presented at the Financial Management Association annual meeting October 1998.
  • "The Execution of Equity Offers: Do Issuers Get What They Pay For?" (with Chaplinsky), 1997, Presented at the Financial Management Association annual meeting October 1997.
  • "Do Managers Knowingly Issue Overvalued Equity?" (with Cook), 1997, Presented at the Eastern Finance Association April 20, 1997.
  • "Firm Performance Measures After Seasoned Equity Offerings," (with Price and Smoller), 1996, Presented at the Southern Finance Association annual meeting November 21, 1996.
  • "When Do Equity Issue Announcements Signal Good News?" (with Wagster), 1996, Presented at the Financial Management Association annual meeting October 10, 1996.
  • "Are There Windows of Opportunity for Seasoned Equity Issuance?" (with Chaplinsky), 1996, Journal of Finance.
  • "The Influence of Predictability on Differences in the Market Reaction to Debt and Equity Issue Announcements," 1994, Journal of Financial Research.
  • "Securities Offerings and Capital Structure Theory," (with Diltz), 1994, Journal of Business, Finance, and Accounting.
  • "Measures of Risk and Return Surrounding Seasoned Equity Issues," (with Price and Smoller), 1994, Presented at the Southern Finance Association Meetings November 1994.
  • "Marketability Influences on the Yield Premia of Speculative Grade Debt," (with Price and Shulman), 1993, Journal of Financial Management.
  • "The Empirical Relevance of Asymmetric Information for the Securities Offering Process," (with Diltz), 1991, Journal of Business, Finance, and Accounting.

Professional Memberships

  • American Finance Association
  • Financial Management Association
  • Southern Finance Association