About the Author
John Graham is the D. Richard Mead Professor of Finance at Duke University where he also serves as the Director of the Duke/CFO Global Business Outlook survey. He is coeditor of the Journal of Finance and has published more than three dozen scholarly articles in journals such as the Journal of Financial Economics, the Review of Financial Studies, the Journal of Finance, the Journal of Accounting and Economics, and many others. John is one of the most prolific and widely cited scholars of his generation, and he is a three-time win¬ner of the Jensen Prize for the best corporate finance paper published in the Journal of Financial Economics. John is a Research Associate with the National Bureau of Economic Research, and he has received recognition for outstanding teaching and faculty contribu¬tions at Duke and the University of Utah. Scott Smart has been a member of the Finance Department at Indiana University since 1990. He has published articles in scholarly journals such as the Journal of Finance, the Journal of Financial Economics, the Journal of Accounting and Economics, and the Review of Eco¬nomics and Statistics. His research has been cited by the Wall Street Journal, Business Week, and other major newspapers and periodicals. Professor Smart holds a Ph.D. from Stanford University and has been recognized as a master teacher, winning more than a dozen teaching awards, at the graduate level. Some of his consulting clients include Intel and Unext. Bill Megginson is Professor and Rainbolt Chair in Finance at the University of Oklahoma. He is also a voting member of the Italian Ministry of Economics and FinanceÂ's Global Advisory Committee on Privatization. He has published refereed articles in several top academic journals, including the Journal of Economic Literature, the Journal of Finance, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, and Foreign Policy. Dr. Megginson holds a Ph.D. in finance from Florida State University. He has visited 63 countries and has served as a privatization consultant for the New York Stock Exchange, the OECD, the IMF, the World Federation of Exchanges, and the World Bank.