• Phone: 617-353-4167
  • E-Mail:  amichel@bu.edu
  • Website: http://management.bu.edu
  • Office: 522D
  • Office Hours: By Appointment
  • Address: Boston University Questrom School of Business
    595 Commonwealth Avenue
    Boston, MA 02215
  • Education Open or Close

    Ph D, Cornell University, Management Economics, 1972.

    MA, Yale University, Operations Research, 1969.

    BS, Carnegie Mellon University, Physics, 1967.

  • PublicationsOpen or Close

    Journal Articles:

      Michel, A., Shaked, I., (2014). Ownership Structure and Performance: Evidence from the Public Float in IPOs. Journal of Banking and Finance, 40(January 2014), 54-61. Cambridge.


      Oded, J., Michel, A., Shaked, I., (2011). Distortion in Corporate Valuation: Implications of Capital Structure Changes. Managerial Finance, 37(8), 681-696. Surrey.


      Michel, A., Oded, J., (2010). Extended Abstract - Why Does DCF Undervalue Equities?. CFA Digest, Charlottesvile, Va.


      Michel, A., Oded, J., Shaked, I., (2010). Not all Buybacks are Created Equal: The Case of Accelerated Stock Repurchases. Financial Analysts Journal, 66(6), 55-73. Charlottesville, Virginia.


      Michel, A., Oded, J., (2009). Why Does DCF Undervalue Equities?. Journal of Applied Finance,

      Michel, A., Oded, J., (2008). Stock Repurchases and the EPS Enhancement Fallacy. Financial Analysts Journal, 64(4), 62-75.

      Michel, A., Oded, J., (2008). Reconciling DCF Valuation Methodologies. Journal of Applied Finance,

      Michel, A., Oded, J., (2008). Avoiding Distortion in Corporate Valuation Litigation. Journal of Forensic Economics, XX(1), 31-48.

      Shaked, I., Michel, A., McHugh, C., (1998). Emerging from Bankruptcy: Can an Ugly Duckling Turn into a Swan?. Financial Analysis Journal,

      Shaked, I., Michel, A., Landy, G., (1992). A Survival Kit for Recovering Funds from Junk Bonds Defaults. Financial Analysis Journal,

      Shaked, I., Michel, A., Hamid, S., (1992). Insider Trading: Does SEC Enforcement Have an Effect?. Commercial Lending Review,

      Shaked, I., Michel, A., (1992). Valuation of Damage Claims: An Application of Corporate Finance. Journal of Business Finance and Accounting, Oxford.


      Shaked, I., Michel, A., (1991). RJR Nabisco: A Case Analysis of a Complex Leveraged Buyout. Financial Analysts Journal, New York, NY.


      Shaked, I., Michel, A., Lee, Y., (1991). An Evaluation of Investment Banker Acquisition Advice: The Shareholders' Perspective. Financial Management,

      Shaked, I., Michel, A., McClain, D., (1991). The Foreign Acquirer Bonanza: Myth or Reality?. Journal of Business Finance and Accounting, Oxford.


      Shaked, I., Michel, A., (1990). The LBO Nightmare: Fraudulent Conveyance Risk. Financial Analysts Journal, New York, NY.


      Shaked, I., Michel, A., (1988). Corporate Takeovers: Excess Returns and the Multiple Bidding Phenomena. Journal of Business Finance and Accounting, Oxford.


      Shaked, I., Michel, A., (1988). Leveraged Buyouts: The Financial Issues. Journal of Corporate Finance,

      Shaked, I., Michel, A., (1987). Trucking Deregulation and Motor-Carrier Performance: The Stockholders' Perspective. Financial Review,

      Shaked, I., Michel, A., (1987). Airline Deregulation and the Probability of Air-Carrier Insolvency. Financial Review,

      Shaked, I., Michel, A., (1987). Multinational Corporations vs. Domestic Corporations: Financial Performance and Characteristics. Journal of International Business Studies, Atlanta, GA.


      Shaked, I., Michel, A., (1986). Country and Industry Influence on Dividend Policy: Evidence from Japan and the U.S.. Journal of Business Finance and Accounting, Oxford.


      Shaked, I., Michel, A., (1986). Industry Influence on Pension Funding. Journal of Portfolio Management,

      Shaked, I., Michel, A., (1985). Japanese Leverage: Myth or Reality?. Financial Analysts Journal, New York, NY.


      Shaked, I., Michel, A., (1985). Does Business Diversification Affect Performance?. Financial Management,

      Shaked, I., Michel, A., (1985). Evaluating Merger Performance. California Management Review, Berkeley, CA.


      Shaked, I., Michel, A., (1985). Are Conglomerates Safer?. Research in Finance, edited by H. Levy, JAI Press, Inc.,, Greenwich, CT.


      Shaked, I., Michel, A., Daley, J., (1985). The Proprietary Hospital Industry: A Financial Analysis 1972-1982. Social Science and Medicine,

      Shaked, I., Michel, A., (1984). Airline Performance Under Deregulation: The Shareholders' Perspective. Financial Management,

      Michel, A., Norris, J., (1982). On the Determination of Appropriate Profit Margins in Insurance Industry Regulation. Journal of Risk and Insurance, Mount Vernon, NY.


      Michel, A., (1979). Industry Influence on Dividend Policy. Financial Management,

      Michel, A., (1977). Municipal Bond Ratings: A Discriminant Analysis Approach. Journal of Financial and Quantitative Analysis,

      Michel, A., Permut, S., Joseph, M., (1976). The Researcher's Sample: A Critical review of the Choice of Respondents in Marketing Research. Journal of Marketing Research, Chicago, IL.


      Michel, A., Permut, S., (1976). Implementation in Operational Research: A Review of Operational Research Quarterly. Operational Research Quarterly,

      Albuquerque, R., Michel, A., Gaspar, R., (Accepted). Investment Analysis of Autocallable Contingent Income Securities. Financial Analysts Journal,

    Books:

      Michel, A., Shaked, I., (1995). The Complete Guide to a Successful Leveraged Buyout. : Legal Financial Press.


      Michel, A., Shaked, I., (1986). Takeover Madness. NY, NY: Wiley.


      Michel, A., Shaked, I., Finance and Accounting for Lawyers.

    Book Chapters:

      Michel, A., Mitchell, C., (1977). The Valuation of a Baseball Player, in Optional Strategies in Sports, Edited by S. Ladany and R. Machol, New York: North Holland Publishing Company.


    Working Papers:

      Shaked, I., Michel, A., Rainy Day Investing: Do We Have It Wrong?.

  • Conference ActivitiesOpen or Close

      Eastern Finance Annual Meeting, Eastern Finance Association, Euro Cross Futures, Airline Hedging sand the QQ-Plot, Discussant (work of others). (April 13, 2012 - April 13, 2012).

  • Editorial And Review ActivitiesOpen or Close

    Michel, A., Financial Analysts Journal, Ad Hoc Reviewer, Papers, International, Academic. (February 1, 2013 - December 1, 2014).

    Ad hoc reviewer


    Michel, A., Managerial Finance, Ad Hoc Reviewer, Papers, International. (November 2011 - November 2011).

  • Awards and HonorsOpen or Close

    Recipient of an Alumni Research Gift of $10,000, Development, Research. (March 1, 2013).

    I received a $10,000 gift for research from one of my past students, Steve Ross.


    2013 Professor of the Year, 2nd year MBA students, Teaching. (April 20, 2013).
    I won the second year MBA Professor of the Year Award. (2nd year in a row)


    2012 Professor of the Year, 2nd Year MBA Students, Teaching. (May 12, 2012).
    "In recognition of teaching effectiveness and academic service"


    Graham and Dodd Award of Excellence, CFA Institute, Research. (July 2009).
    "Outstanding article published in Financial Analysts Journal during the year 2008"


    Nominated for "Metcalf Award," the highest teaching honour at Boston University. (1996).
    Quarterfinalist


    Listed 9th on the list of the "Most Frequently Cited Financial Management Articles" over the previous 25 years. (1995).
    1970-1995


    Winner of Outstanding Article of 1982, Journal of Risk and Insurance. (1982).
    (with J. Norris)