Kirt C. Butler
Associate Professor of Finance ...........................8th degree black belt ..........................Dancing with my wife Erika.......
and Director of Study Abroad ................................Shido-kan Karate ..............................................at the..........................
The Eli Broad College of Business .......................www.ihadojo.com ...........................Great Lakes Swing Dance Club...
Michigan State University
East Lansing, MI 48824 USA
Multinational Finance, 6th edition (2016), by Kirt C. Butler, John Wiley & Sons, Inc.
Adobe PDF (9781119219712), ePub (9781119219705), or Paperback (ISBN 9781119219682)
Download the Table of Contents
- “Nonsynchronous Security Trading and Market Index Autocorrelation,” with Michael D. Atchison and Richard R. Simonds, Journal of Finance, March 1987.
- “Risk, Diversification, and the Investment Horizon,” with Dale L. Domian, Journal of Portfolio Management, Spring 1991.
- “The Forecast Accuracy of Individual Analysts,” with Larry H.P. Lang, Journal of Accounting Research, Spring 1991.
- “The Hamada and Conine Leverage Adjustments and the Estimation of Systematic Risk for Multi-Segment Firms,” with Rosanne Mohr and Richard R. Simonds, Journal of Business Finance and Accounting, November 1991.
- “Efficiency and Inefficiency in Thinly Traded Stock Markets: Kuwait and Saudi Arabia,” with S.K. Malaikah, Journal of Banking and Finance, February 1992.
- “Long Run Returns for Stocks and Bonds: Implications for Retirement Planning,” with Dale L. Domian, Financial Services Review 2, No. 3, 1992.
- “A Classroom Exercise to Simulate the Foreign Exchange Market,” with Chuck C.Y. Kwok, Journal of Teaching in International Business 6, No. 2, 1994.
- “Are Closed-End Country Fund Premiums-Discounts the Result of Ownership Restrictions or Investor Sentiment?” with Woojin Hahn, Midwest Review of International Business Research IX, Spring 1994.
- “Market Response to Earnings Announcements: The Effects of Firm Characteristics,” with Ki Han, Quarterly Journal of Business and Economics, Summer 1994.
- “International Portfolio Diversification and the Magnitude of the Market Timer's Penalty,” with Dale L. Domian and Richard R. Simonds, Journal of International Financial Management and Accounting 6, December 1995.
- “Stock Returns in Thinly Traded Markets,” with Richard M. Osborne, Financial Review 33, August 1998.
- “A Note on Political Risk and the Required Return on Foreign Direct Investment,” with Domingo Castelo Joaquin, Journal of International Business Studies 29, No 3, 1998.
- “Improving Analysts' Negative Earnings Forecasts,” with Hakan Saraoglu, Financial Analysts Journal, May/June 1999.
- “Competitive Investment Decisions: A Synthesis,” with Domingo Castelo Joaquin, in Project Flexibility, Agency, and Product Market Competition: New Developments in the Theory and Application of Real Options Analysis, edited by Michael Brennan (London Business School) and Lenos Trigeorgis (University of Chicago) for Oxford University Press (London), 2000.
- “Are the Gains from International Portfolio Diversification Exaggerated? The Influence of Downside Risk in Bear Markets,” with Domingo Castelo Joaquin, Journal of International Money and Finance, December 2002.
- “Risk-Adjusted Capital Costs for Chinese Capital Investments,” with Yi Zhang, Finance and Accounting Monthly, 2004 (in Chinese; Beijing, PRC).
- “Finance and the Search for the 'Big' Question in International Business,” AIB Insights 6, No. 3, 2006.
- “Bivariate and Higher-Order Terms in Models of International Equity Returns,” with Katsushi Okada, Applied Financial Economics 17, No. 9, 2007.
- “Higher-Order Terms in Bivariate Returns to International Stock Market Indices,” with Katsushi Okada, Multinational Finance Journal 12, No. 1/2, 2008.
- “The Relative Contribution of Conditional Mean and Volatility in Bivariate Returns to International Stock Market Indices,” with Katsushi Okada, Applied Financial Economics 19, No. 1, 2009.
- “Links between international financial markets and volatility,” with Will Gerken, forthcoming as Chapter 7 in International Finance: A Survey, edited by H. Kent Baker and Leigh A. Riddick. New York: Oxford University Press, 2013.
- "Multinational capital budgeting: Valuing cross-border investments,” with Gwinyai Utete, forthcoming as Chapter 19 in International Finance: A Survey, edited by H. Kent Baker and Leigh A. Riddick. New York: Oxford University Press, 2013.
- "A Fresh Look at Cross-Border Valuation and FX Hedging Decisions,” with Thomas J. O'Brien and Gwinyai Utete, Journal of Applied Finance, No. 2, 2013.
- Current teaching assignments at MSU in international finance and financial strategy
FI 451 International Financial Management (Undergraduate)
FI 860 Multinational Corporate Finance (MBA)
FI 861 International Financial Markets (MBA)
PIM 841/842 Corporate/Managerial Finance (EMBA)
PIM 874 The Global Marketplace (EMBA) - recently in S. Africa, Hungary|Slovakia|Czech Republic, China, Brazil, & S. Korea
- Classroom teaching materials
A financial toolkit
The FX game
- BS, 1974, Psychology/Pre-med, Honors College, Michigan State University, East Lansing, MI, USA - with High Honors, 3.9 GPA, Phi Kappa Phi
- MS, 1979, Computer Science, College of Engineering, Michigan State University, East Lansing, MI, USA
- MBA, 1981, Finance, College of Business, Michigan State University, East Lansing, MI, USA
- Ph.D., 1985, Finance, College of Business, Michigan State University, East Lansing, MI, USA
- Computer Programmer, College of Veterinary Medicine, Michigan State University (1977-1979)
- Cost Accountant, Laboratory Animal Care Service, Michigan State University (1979-1981)
- Graduate Assistant, Department of Finance, Michigan State University (1981-1984)
- Instructor, Department of Finance, Michigan State University (1984-1985)
- Visiting Assistant Professor, Department of Finance, Michigan State University (1985-1986)
- Assistant Professor, Department of Finance, Michigan State University (1986-1992)
- Guest Professor of Finance, Lehrstuhl for Betriebswirtschaftlehre, Augsburg University, Germany (1992)
- Acting Chairperson, Department of Finance, Michigan State University (1998)
- Visiting Associate Professor, Department of Finance, The University of Michigan (2005)
- Associate Professor, Department of Finance, Michigan State University (1992-present)
- Director of Study Abroad, The Eli Broad College of Business, Michigan State University (2010-present)