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Marcia Millon Cornett

Professor, Finance
Ph.D., Indiana University-Bloomington, 1983
MBA, Indiana University-Bloomington, 1983
BS, Knox College, 1978
Office: Adamian Academic Center 227 | 781.891._3111 | mcornett@bentley.edu
                       


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Bio

Dr. Cornett has written and published several articles in the areas of bank performance, bank regulation, and corporate finance. Articles authored by Dr. Cornett have appeared in such academic journals as the Journal of Finance, the Journal of Money, Credit and Banking, the Journal of Financial Economics, Financial Management, and the Journal of Banking and Finance. In 2008, she was ranked as the 124th most published of over 17,600 authors and the number five female author in the finance literature in the last 50 years .

Teaching Interests

Financial Institutions; Corporate Finance

Research Interests

Financial Institutions; Corporate Finance; Corporate Governance

Professional Memberships

American Finance Association
Financial Management Association

Awards and Honors

2007, College of Business Graduate Teacher of the Year-SIUC
2007, Undergraduate Teacher of the Year, College of Business-SIUC
2005, Outstanding Researcher of the Year, College of Business-SIUC
2004, College of Business Graduate Teacher of the Year-SIUC
2004, Undergraduate Teacher of the Year, College of Business-SIU
2002, Undergraduate Teacher of the Year, College of Business-SIU
1994, College of Business Graduate Teacher of the Year-SIUC
1994, Undergraduate Teacher of the Year, College of Business-SIU

Publications

Journal Articles
Cornett, M., Cohen, L., Marcus, A., Tehranian, H. (2014). Bank Earnings Management and Tail Risk during the Financial Crisis. Journal of Money, Credit, and Banking. Forthcoming

Cornett, M., Li, L., Tehranian, H. (2013). The Performance of Banks Around the Receipt and Repayment of TARP Funds: Overachievers versus Underachievers. Journal of Banking and Finance, 37 (3), 730-746.

Cornett, M., Tanyeri, B., Tehranian, H. (2011). The Effect of Merger Anticipation on Bidder and Target Firm Announcement Period Returns. Journal of Corporate Finance, 17, 595-611.

Cornett, M., McNutt, J. J., Strahan, P. E., Tehranian, H. (2011). Liquidity Risk Management and Credit Supply in the Financial Crisis. Journal of Financial Economics, 101 (2), 297-312.

Cornett, M., Fayman, A., Marcus, A., Tehranian, H. (2011). Banks, IPOs, Dividend Policy and Merger Activity. Review of Financial Economics, 20, 11-21.

Cornett, M., Guo, L., Khaksari, S., Tehranian, H. (2010). Performance Differences in Privately-Owned Versus State-Owned Banks: An International Comparison. Journal of Financial Intermediation, 19 (1), 74-94.

Cornett, M., McNutt, J. J., Tehranian, H. (2009). Earnings Management at Large U.S. Bank Holding Companies. Journal of Corporate Finance, 15, 412-430.

Cornett, M., Marcus, A., Tehranian, H. (2008). Earnings Management, Corporate Governance, and Financial Performance. Journal of Financial Economics, 87, 357-373.

Marcus, A., Saunders, A., Tehranian, H., Cornett, M. (2007). The Impact of Institutional Ownership on Corporate Operating Performance. Journal of Banking and Finance, 31, 1771-1794.

Cornett, M., Tehranian, H., Yalcin, A. (2007). Regulation Fair Disclosure and the Credibility of Underwriter Analyst Recommendations. Journal of Banking and Finance, 31, 567-588.

Cornett, M., McNutt, J. J., Tehranian, H. (2006). Performance Changes Around Bank Mergers: Revenue Enhancements Versus Cost Reductions. Journal of Money, Credit, and Banking, 38, 1013-1050.

Cornett, M., Hovakimian, G., Palia, D., Tehranian, H. (2003). The Impact of the Manager-Shareholder Conflict on Acquiring Bank Returns. Journal of Banking and Finance, 27, 103-131.

Booth, J., Cornett, M., Tehranian, H. (2002). Board of Directors, Ownership and Regulation. Journal of Banking and Finance, 26, 1973-1996.

Cornett, M., Ors, E., Tehranian, H. (2002). Bank Performance Around the Introduction of a Section 20 Subsidiary. Journal of Finance, 57, 501-522.

Cornett, M., Musumeci, J. (1999). How Legislation Affects Value: The Threat and Failure of Credit Card Cap Legislation. Financial Management, 83-94.

Cornett, M., Mehran, H., Tehranian, H. (1998). The Impact of Risk-Based Premiums on FDIC Insured Institutions. Journal of Financial Services Research, 153-169.

Cornett, M., Mehran, H., Tehranian, H. (1998). Are Financial Markets Overly Optimistic About the Prospects of Firms That Issue Equity? Evidence From Voluntary Versus Involuntary Equity Issuances By Banks Journal of Finance, 53, 2139-2160.

Bacon, C. J., Cornett, M., Davidson III, W. N. (1997). Board of Directors and Dual Class Recapitalizations. Financial Management, 5-22.

Cornett, M., Davidson III, W. N., Rangan, N. (1996). Deregulation in Investment Banking: The Industry Concentration Following Rule 415. Journal of Banking and Finance, 85-113.

Cornett, M., Razaee, Z., Tehranian, H. (1996). An Investigation of Capital Market Reactions to Accounting Rules on Fair Value Accounting. Journal of Accounting and Economics, 119-154.

Cornett, M., Tehranian, H. (1994). An Examination of Voluntary Versus Involuntary Security Issuances by Commercial Banks: The Impact of Capital Regulations on Common Stock Returns. Journal of Financial Economics, 99-122.

Cornett, M., Schwarz, T. V., Szakmary, A. C. (1993). Seasonalities and Intra-day Return Patterns in the Foreign Currency Futures Markets. Journal of Banking and Finance, 843-869.

Cornett, M., Travlos, N. G. (1993). Going Private Buyouts and Determinants of Shareholders' Returns. Journal of Accounting, Auditing & Finance (Winter), 1-25.

Chen, A. H., Cornett, M., Nabar, P. G. (1993). An Empirical Examination of Interest-Rate Futures Prices. Journal of Futures Markets, 781-797.

Cornett, M., Tehranian, H. (1992). Changes in Corporate Performance Associated with Interstate and Intrastate Bank Acquisitions. Journal of Financial Economics (April), 211-234.

Cornett, M., De, S. (1991). Medium of Payment in Corporate Acquisitions: Evidence from Interstate Bank Mergers. Journal of Money, Credit and Banking (November), 767-776.

Cornett, M., De, S. (1991). Bidder Returns in Corporate Takeover Bids: Evidence from Interstate Bank Mergers. Journal of Banking and Finance (April), 273-298.

Cornett, M., Tehranian, H. (1990). An Examination of the Impact of the Garn St.Germain Depository Institutions Act of 1982 on Commercial Banks and Savings and Loans. Journal of Finance (March), 95-111.

Cornett, M., Vetsuypens, M. R. (1989). Voting Rights and Shareholder Wealth: The Issuance of Limited Voting Common Stock. Managerial and Decision Economics (September), 175-188.

Cornett, M., Tehranian, H. (1989). Stock Market Reactions to the Depository Institutions Deregulation and Monetary Control Act of 1980. Journal of Banking and Finance (March), 81-100.

Cornett, M., Travlos, N. G. (1989). Information Effects Association With Debt-for-Equity and Equity-for-Debt Exchange Offers. Journal of Finance (June), 451-468.

Cornett, M. (1988). Undetected Theft as a Social Hazard: The Role of Financial Institutions and Regulatory Authorities in the Choice of Protection Mechanisms. Journal of Risk and Insurance (December), 723-733.

Cornett, M., Thakor, A. V. (1985). Moral Hazard and Information Sharing: A Model of Financial Information Gathering Agencies. Journal of Finance (December), 1403-1422.

Books
Cornett, M, Adair, T. A, Nofsinger, J. (2014). Finance: Applications and Theory, 3rd edition (3 ed.). Burr Ridge, IL: McGraw-Hill Higher Education.

Cornett, M. (2013). Financial Institutions Management: A Risk Approach, 8th edition (8th ed.). Burr Ridge, Il: McGraw-Hill Higher Education. (link)

Cornett, M. (2011). Financial Markets and Institutions, 5th edition. Burr Ridge, Illinois: McGraw-Hill/Irwin.

Cornett, M, Adair Jr., T. A, Nofsinger, J. Finance: Applications and Theory, 2nd edition. Burr Ridge, Illinois: McGraw-Hill/Irwin.

Cornett, M, Adair Jr., T. A, Nofsinger, J. (2011). MFinance, 1st edition. Burr Ridge, Illinois: McGraw-Hill/Irwin.

Cornett, M, Saunders, A. (2010). Financial Institutions Management: A Risk Approach, 7th edition. Burr Ridge, Illinois: McGraw-Hill/Irwin. (link)

Cornett, M, Adair, T, Nofsinger, J. (2009). Finance: Applications and Theory. Burr Ridge, IL: McGraw-Hill/Irwin.

Saunders, A, Cornett, M. (2009). Financial Markets and Institutions: A Modern Perspective (4th ed.). Burr Ridge, IL: McGraw-Hill/Irwin.

Saunders, A, Cornett, M. (2008). Financial Institutions Management (6th ed.). Burr Ridge, IL: McGraw-Hill/Irwin.

Saunders, A, Cornett, M. (2007). Financial Markets and Institutions: A Modern Perspective (3rd ed.). Burr Ridge, IL: McGraw-Hill/Irwin.

Saunders, A, Cornett, M. (2006). Financial Institutions Management (5th ed.). Burr Ridge, IL: McGraw-Hill/Irwin.

Cases
Cornett, M. (2013). MFinance, 2nd edition. McGraw-Hill.

Conference Proceedings and Presentations

Cornett, M. (2013). "Corporate Social Responsibility and its Impact on Financial Performance: Investigation of the U.S. Commercial Banks." Presented at the Bentley University Research Council's Research Colloquium on the topic of “Responsible Innovation: Environmental Sustainability, Financial Accountability, and Information and Communication Technology (ICT) Ethics, Bentley University.

Cornett, M., McNutt, J. J., Tehranian, H. (2010). "Earnings Management at Large U.S. Bank Holding Companies." Presented at the Financial Management Association's FMA Annual Meetings, New York, New York.

Cornett, M., McNutt, J. J., Strahan, P. E., Tehranian, H. (2010). "Liquidity Risk Management and Credit Supply in the Financial Crisis." Presented at the Deutsche Bank, European Banking Center and European Business School's Deutsche Bank, European Banking Center and European Business School Joint Conference, Frankfort, Germany.

Service

Department Service
Committee Member for Finance Departmet Research Committee, 2012 - Present
Committee Chair for Finance Department Undergraduate Major Assurance of Learning Committee, 2011 - Present
Committee Member for Finance Department Graduate Program Committee, 2010 - Present
Course Coordinator for FI305 Coordinator, 2012 - 2013
Committee Member for Finance Department Recruiting Committee, 2011 - 2013
Secondary evaluator of Kershen Huang, 2012 - 2012
Committee Chair for Finance Department Recruiting Committee, 2010 - 2011

University Service
Committee Member for Bentley Research Council, 2012 - Present
Conference/Workshop Organizer for Research Council, 2013 - 2013
Panelist/speaker for Bentley Univerisity - Face of Finance: Designing Usable Financial Systems, 2012 - 2012

Professional Service
Editorial Review Board Member for Quarterly Review of Economics and Finance, 2014 - Present
Editor (Associate), Journal for Journal of Banking and Finance, 2013 - Present
Reviewer, Journal Article for Review of Financial Studies, 2011 - Present
Reviewer, Journal Article for Financial Management, 2010 - Present
Reviewer, Journal Article for Journal of Corporate Finance, 2010 - Present
Reviewer, Journal Article for Journal of Financial Intermediation, 2010 - Present
Reviewer, Journal Article for Journal of Financial Services Research, 2010 - Present
Reviewer, Journal Article for Quarterly Review of Economics and Finance, 2010 - Present
Reviewer, Journal Article for Review of Financial Economics, 2010 - Present
Editor (Associate), Journal for Financial Review, 2003 - Present
Editor (Associate), Journal for Journal of Financial Services Research, 2003 - Present
Editor (Associate), Journal for FMA Online, 2001 - Present
Editor (Associate), Journal for Review of Financia Economics, 2001 - Present
Editor (Associate), Journal for Mulinational Finance Journal, 1999 - Present
Moderator for Treasury Management Association of New England, 2011 - 2011
External Reviewer of P&T of Dr. Rajesh Narayanan, LSU for Lousiana State University, 2011 - 2011