November 03, 2003

Los Angeles — Mark Grinblatt, professor of finance at UCLA Anderson , has been named vice president of the Western Finance Association. He has been a member of UCLA Anderson faculty since 1981.

The Western Finance Association is the premier academic organization devoted to the study and promotion of knowledge about financial economics. This international organization's membership is open to institutions and individuals from both the academic and professional community.

Professor Grinblatt's areas of expertise include investments, performance evaluation of fund managers, fixed income markets, corporate finance and derivatives.

Dr. Grinblatt currently serves as an associate editor of the Review of Financial Studies and the Journal of Financial and Quantitative Analysis and as a director on the board of Salomon Swapco, Inc. As an author of over 20 papers published in finance and economics journals, he has written extensively on the topic of performance evaluation. He won a Smith Breeden 2001 distinguished paper award for the paper, "What Makes Investors Trade."

His latest research paper titled, "Interpersonal Effects in Consumption: Evidence from the Automobile Purchases of Neighbors," analyzes the automobile purchase behavior of residents of two Finnish provinces over several years. The research finds that a consumer's purchases are strongly influenced by the purchases of his or her neighbors, particularly purchases in the recent past and by neighbors who are geographically most proximate. Results prove that people resort to information sharing rather than envy as a generator of consumer preferences.

His past research, both theoretical and empirical, has explored asset pricing, rational expectations equilibria, corporate finance, derivatives valuation and agency theory. Dr. Grinblatt has authored a textbook for MBAs titled, Financial Markets and Corporate Strategy, published by Irwin-McGraw Hill.

Prof. Grinblatt is a noted teacher at UCLA Anderson, having been honored as "Teacher of the Year" for the Fully Employed MBA Program (FEMBA) by a vote of the students. This award was based on his teaching of a course designed around early drafts of his textbook.

Prof. Grinblatt served as a visiting position professor at the Wharton School from 1987-1989 and worked as a vice president for Salomon Brothers, Inc. from 1989-1990. He also consults on finance issues for various corporations, law firms, investment management firms and financial institutions.

Prof. Grinblatt received his Ph.D, M. Phil., M.A. and A.B. from Yale University.

About UCLA Anderson School of Management

UCLA Anderson School of Management is perennially ranked among the top-tier business schools in the world. Award-winning faculty renowned for their research and teaching, highly selective admissions, successful alumni and world-class facilities combine to provide an extraordinary learning environment. Established in 1935, UCLA Anderson provides management education to more than 1,400 students enrolled in full-time, part-time and executive MBA programs and doctoral programs.

UCLA Anderson's faculty includes outstanding educators and researchers who share their scholarship and expertise in such fundamental areas as finance, marketing, accounting, business economics, decision sciences, operations and technology management, human resources and organizational behavior, information systems, strategy and policy.

Recognizing that the school offers unparalleled expertise in management education, the world's business community turns to UCLA Anderson School of Management as a center of influence for the ideas, innovations, strategies and talent that will shape the future.

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