Kirt Butler

Kirt C. Butler specializes in international and corporate finance and global strategy. He joined the MSU faculty in 1985 after completing his doctorate in Finance at MSU. He also holds a M.S. degree in Computer Science from the College of Engineering and a B.A. in Psychology from the Honors College at MSU.

Professor Butler's research has appeared in a variety of academic and practitioner journals including the Journal of Finance, Journal of Accounting Research, Journal of Portfolio Management, Financial Analysts Journal, Journal of International Business Studies, Journal of International Money and Finance, and the Journal of Applied Finance. His academic research has been profiled in Time and Money magazines, on the CNN and CNBC websites, and elsewhere. His best-selling Multinational Finance textbook was most recently published in 2016 and is in its 6th edition (paperback ISBN 978-1-1192-1968-2 or Adobe PDF ISBN 978-1-1192-1971-2). He won the College of Business Withrow Teacher/Scholar Award in 2001, Excellence in Teaching awards from the Department of Finance in 2003, 2014, & 2017, and the Executive MBA Professor of Excellence award in 2019.

"A Fresh Look at Cross-Border Valuation and FX Hedging Decisions,"� with Thomas J. O'Brien and Gwinyai Utete, Journal of Applied Finance (Fall), 2013."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. "Higher-Order Terms in Bivariate Returns to International Stock Market Indices,"� with Katsushi Okada, Multinational Finance Journal 12, No. 1/2, 2008. "Bivariate and Higher-Order Terms in Models of International Equity Returns,"� with Katsushi Okada, Applied Financial Economics 17, No. 9, 2007."Finance and the Search for the 'Big' Question in International Business,"� AIB Insights 6, No. 3, 2006. "Risk-Adjusted Capital Costs for Chinese Capital Investments,"� with Yi Zhang, Finance and Accounting Monthly, 2004 (in Chinese; Beijing, PRC). "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."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. "Improving Analysts' Negative Earnings Forecasts,"� with Hakan Saraoglu, Financial Analysts Journal, May/June 1999. "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."Stock Returns in Thinly Traded Markets,"� with Richard M. Osborne, Financial Review 33, August 1998. "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. "Market Response to Earnings Announcements: The Effects of Firm Characteristics,"� with Ki Han, Quarterly Journal of Business and Economics, Summer 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. "A Classroom Exercise to Simulate the Foreign Exchange Market,"� with Chuck C.Y. Kwok, Journal of Teaching in International Business 6, No. 2, 1994. "Long Run Returns for Stocks and Bonds: Implications for Retirement Planning,"� with Dale L. Domian, Financial Services Review 2, No. 3, 1992. "Efficiency and Inefficiency in Thinly Traded Stock Markets: Kuwait and Saudi Arabia,"� with S.K. Malaikah, Journal of Banking and Finance, February 1992. "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."The Forecast Accuracy of Individual Analysts,"� with Larry H.P. Lang, Journal of Accounting Research, Spring 1991. "Risk, Diversification, and the Investment Horizon,"� with Dale L. Domian, Journal of Portfolio Management, Spring 1991."Nonsynchronous Security Trading and Market Index Autocorrelation,"� with Michael D. Atchison and Richard R. Simonds, Journal of Finance, March 1987."Links between international financial markets and volatility,"� with Will Gerken, 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, Chapter 19 in International Finance: A Survey, edited by H. Kent Baker and Leigh A. Riddick. New York: Oxford University Press, 2013. Multinational Finance, 6th edition (2016) by John Wiley & Sons Inc.
ISBN: Paperback 978-1-1192-1968-2, ePub 978-1-1192-1970-5, Adobe PDF 978-1-1192-1971-2