Christophe Faugère, Ph.D.

Assistant Professor of Finance

BA 309C, School of Business Phone: (518) 442-4973

University at Albany, NY 12222 Email: c.faugere@albany.edu

Education Ph.D. Economics, 1993. University of Rochester, NY, USA.

M.A. Mathematical Economics, 1987. University of Toulouse, France.

B.A. Economics, 1984. University of Bordeaux, France.

Academic Positions

· Assistant Professor, Department of Finance, SUNY Albany, fall 2001 to present.

Undergraduate courses taught:

§ Fin 333, Investment Management

§ Fin 301, Corporate Finance

MBA courses taught:

§ Fin 515, Managerial Economics

§ Fin 525 Financial Management

§ Fin 603, Financial Institutions and Market Securities

· Visiting Assistant Professor, Department of Finance, SUNY Albany, 1999 - 2001.

· Adjunct Professor, Department of Finance, SUNY Albany, 1997 - 1999.

· Adjunct Professor, Clarkson School of Business, 1997 - 1998.

· Visiting Assistant Professor, Economics Dept., SUNY Stony Brook, 1994 - 1995.

· Post-Doctoral Fellow, Economics Dept., University of Montreal, Canada, 1993 - 1994.

· Adjunct Professor, Economics Dept., St. John Fisher College, Rochester NY, 1991- spring 1993.

Other Professional Experience

· Independent Economic Consultant, Upstate NY, 1996 - 1998.

Awards/Public Recognition

· Voted Best MBA professor by 1^st year MBA class, Fall 2002-Spring 2003.

· Awarded FIPSE Fellowship, for excellence in teaching at St. John Fisher College, 1991-1993.

· University of Rochester Graduate Fellowship, 1987-1992.

Published/Accepted Articles

· C. Faugère and H. A. Shawky, 2002, “A Valuation Formula for High Technology Firms that are in the Early Stage of their Lifecycle”, forthcoming in Advances in Financial Planning and Forecasting, Spring 2005.

· C. Faugère and J. Van Erlach, 2005, “The Price of Gold: A Global Required Yield Theory”, Forthcoming in Journal of Investing, Spring 2005.

· C. Faugère, H. A. Shawky, and D. M. Smith, 2004, “Sell Discipline and Institutional Money Management”, The Journal of Portfolio Management, 30 (3), Spring 2004, 95-105.

· C. Faugère and H. A. Shawky, 2003, “Volatility and Institutional Investors Holdings During a Declining Market: A Case Study of NASDAQ During the Year 2000”, Journal of Applied Finance, Winter/Spring 2003, 13 (2), 32-42.

· C. Faugère and H. A. Shawky, 2002, “Endogenous Growth and Stock Returns Volatility in the Long-Run”, Advances in Investment Analysis and Portfolio Management, 9, 1-20.

Other Publications

· C. Faugère and J. Van Erlach, “A History Lesson for Stocks and Bonds”, Financial Times, November 19, 2002.

Working Papers

· C. Faugère and J. Van Erlach, “The Equity Premium: Explained by GDP Growth and Portfolio Insurance”, Revised and resubmit at Financial Review, Fall 2004.

· C. Faugère and G. Tayi, “Strategies for Designing Free Software: A Game-Theoretic Approach”, Revised and resubmit at ITEM, Fall 2004.

· C. Faugère and J. Van Erlach, “A Required Yield Theory of Stock Market Return and Valuation”, Submitted to Financial Review, Spring 2004.

· C. Faugère, “Human Capital, Pollution and Development”, SUNY Stony Brook, 1995.

· C. Faugère, “Dating, Marriage and Social Norms”, SUNY Stony Brook, 1995.

· C. Faugère, “Growth and the Environmental Discount rate”, # 2094, CRDE University of Montréal, 1994.

· C. Faugère, “Technical Progress and Factor Complementarity”, # 1894, CRDE University of Montréal, 1994.

· C. Faugère, “Optimal Growth and Biased Progress”, # 0694, CRDE University of Montréal, 1994.

· C. Faugère, “Optimal Savings and Comparative Dynamics of Exogenous Technical Changes”, University of Rochester, 1993.

Work in Progress

· C. Faugère, H. A. Shawky, and D. M. Smith, 2004, “The Characteristics of Value vs. Growth Oriented Publicly and Privately Managed Funds”, School of Business, University at Albany, 2004.

· B. Ding, C. Faugère, and J. Marler, 2004, Effects of Institutional Ownership on Corporate Governance: Executive Compensation and Firm Performance”, School of Business, University at Albany, 2004.

· C. Faugère, T. Gardner, and D. M. Smith, “Stock Splits and Returns for the Technology Sector during the 1990s Bull Market”, School of Business, University at Albany, 2003.

· C. Faugère and J. Van Erlach, “The Earnings Yield (E/P) Ratio: Foundations and New Theory”, School of Business, University at Albany, 2002.

Research Awards

· 2002 Frap B award for proposal entitled “The Effects of Institutional Ownership on Stock Returns, a Comparative Study between NYSE and NASDAQ”.

· 2003 Center for Institutional Investment Management award for proposal entitled “ The Effects of Institutional Ownership on Corporate Governance: Executive Compensation and Firm Performance.” With Janet Marler.

Referee Work

· Financial Review, 2004

· Municipal Finance Journal, 2000.

· Journal of Economics (Zeitschrift fur Economics), 1999.

Service

· Current member of the Undergraduate Affairs Committee

· Chair Teaching and Learning Committee 2003-2004.

· Member of School of Business Research Committee 2001-2003

· Member of School of Business Graduate Affairs Committee 2000 -2001

· Chair of the School of Business Research Committee 1999 -2000. Instituted the first series of weekly informal research luncheons, for collaborative research (GRITS).

· FMA Student Local Chapter advisor 2000.

Continuing Education

· Graduated from the GSU Master-Teacher Program, May 2001.

Conference Presentations and Workshops

· C. Faugère, H. A. Shawky, and D. M. Smith, 2004, “Sell Discipline and Institutional Money Management”, presented at the University of Colorado Business School Conference, Fall 2004.

· C. Faugère and J. Van Erlach, “A General Theory of Stock Market Valuation and Return”, presented at the FMA meetings in New Orleans, Fall 2004.

· C. Faugère and J. Van Erlach, “Stocks vs. Bonds in the Long Run: A Premium for Growth”, presented at the FMA meetings in Denver, Fall 2003.

· C. Faugère and J. Van Erlach, “The Earnings Yield (E/P) Ratio: Foundations and New Theory”, presented at the SUNY Albany School of Business Research Workshop, Fall 2003.

· C. Faugère and H. A. Shawky, “Stock Returns, Trading Volume and Institutional Holdings: Differences between NYSE and Nasdaq”, presented at the FMA meetings in San Antonio, Fall 2002.

· C. Faugère and Giri Tayi, “Strategies for Designing Free Software: A Game-Theoretic Approach”, presented at the Annual Service Operations Management Workshop, at Indiana U., May 2002.

· C. Faugère and H. A. Shawky, “A Valuation Formula for High Technology Firms that are in the Early Stage of their Lifecycle”, presented at the FMA meetings in Toronto, Fall 2001, and at Skidmore College, School of Business/ Economics workshop, Spring 2000.

· C. Faugère and H. A. Shawky, “Endogenous Growth and Stock Returns Volatility in the Long-Run”, presented at the FMA meetings in Seattle, Fall 2000.

· C. Faugère, “Dating, Marriage and Social Norms”, presented at the University of Rochester Economic Theory Workshop (February '96), at the Midwest Mathematical Economics Conference, University of Minnesota (Fall '95) and at the International Conference on Game Theory in Stony-Brook (July '95).

· C. Faugère, “Optimal Growth and Biased Progress”, presented at the Econometrics Society Summer Meetings in Boston University (June '93), at the Midwest Math. Econ. Conference, University of Wisconsin (Fall '93) and University of Pittsburgh (Fall '92).

· C. Faugère, “Optimal Savings and Comparative Dynamics of Exogenous Technical Changes”, presented at the Midwest Math. Econ. Conference at Michigan State University (Spring '92).

Conferences Panels

· Discussant at the FMA meeting Toronto, Fall 2001.

Community Involvement

· Committee member of the Fresh Air Fund organization for the Ballston-Spa/Saratoga/Glens Falls region.

· Active volunteer in community programs organized by the Presbyterian and New England Congregational church of Saratoga Springs, NY.