David Wright Durr, Ph.D., CFA, CFP^®

The Arthur J. Bauernfeind Endowed Chair in Business/Investment Management

The Arthur J. Bauernfeind Endowed Chair in Investment Management was occupied by Dr. David Durr in 2003-2004.  Dr. Durr has an excellent record in teaching, research and service and brings significant expertise in the area of financial planning.  During 2004-2005 Dr. Durr served as Program Director for the CFP® Board Registered Program in Personal Financial Planning.  The program serves as the foundation for “financial planning” tracks in both the finance and accounting programs. Successful completion of the program enables Murray State students to sit for the Certified Financial Planner examination.

Dr. Durr continues to promote and support the financial planning profession.  He co-authored an article that was published in the Journal of Financial Service Professionals in 2005.  He also organized and conducted an on-campus comprehensive review (72 classroom hours) for the CFP Examination.  The purpose of the review was to encourage MSU faculty members, as well as Murray-area finance and accounting professionals to pursue the CFP certification, and to assist them in their pursuit. During the past year Dr. Durr also conducted financial planning weekend reviews/seminars throughout the United States (including Chicago, Memphis, New York, Pittsburgh, Dallas, Houston, Kansas City, Washington D.C., and Louisville. His involvement with investment professionals raises the awareness of Murray State University.  In addition, Durr continues to develop relationships with successful, motivated individuals who may be able to help our students in the future.  

Dr. Durr also served as faculty adviser for the TVA Investment Challenge portfolio.  The student-managed portfolio placed first (out of the twenty-five competing schools in the TVA service region) in the three-year competition.  Murray State University was awarded $20,000 in prize money.

Dr. Durr serves the local community as well.  He was a guest speaker for Community Education’s Leadership Tomorrow program.  During the past year he was elected Treasurer of the Murray Calloway County United Way Board.

In 2006 Dr. Durr was a recipient of the Regents Award for Teaching Excellence.

David Wright Durr, Ph.D., CFA, CFP^®

Bauernfeind Endowed Chair in Investment Management

College of Business and Public Affairs

Murray State University

Office Address: 307L Business Building North

Murray State University

Murray, KY 42071

(270) 762-6275

Citizenship: U.S. Citizen

Education

Doctor of Philosophy:

College of Business Administration, University of North Texas, August 1995.

Major Area of Study: Finance

Minor Area of Study: Economics

Topic of Dissertation: "Three Essays on Real Estate Investment Trusts and Financial Markets"

Master of Business Administration:

College of Business Administration, Stephen F. Austin State University, May 1985.

Major: Management

Bachelor of Business Administration:

College of Business Administration, The University of Texas at Austin, December 1982.

Majors: Finance, Real Estate

Professional Certifications

Chartered Financial Analyst

Certified Financial Planner^®

Major Teaching Areas

Courses taught at Murray State University

Undergraduate: Principles of Investment

Portfolio Management and Theory

Principles of Finance

Principles of Insurance

Graduate: Investment Management

Courses taught at the University of Houston-Downtown

Undergraduate: Business Finance

Investments

Derivative Securities

Risk Management

International Finance

Cases in Financial Management

Seminar in Finance

Financial Planning

Courses taught at the University of St. Thomas

Undergraduate: Corporate Finance

Graduate: Financial Management

Courses taught at Our Lady of the Lake University

Graduate: Financial Strategies and Policy

Courses taught at the University of North Texas

Undergraduate: Real Estate Principles, Brokerage

Courses taught at Stephen F. Austin State University

Undergraduate: Introduction to Financial Management

Financial Planning and Policy

Professional Courses Taught

Dalton CFP^® Review: Investments, Insurance, Fundamentals of Financial Planning

Dalton CFA Review: Level I

Houston Society of Financial Analysts: CFA Level III Review

Professional Development Institute: Investments

Employment History

8/03 – present Associate Professor of Finance

Bauernfeind Endowed Chair in Investment Management

Murray State University

Department of Economics and Finance

9/94 – 8/03 Associate Professor of Finance

University of Houston - Downtown

Dept. of Finance, Accounting, CIS

8/91 - 8/94 Teaching Fellow

University of North Texas

Courses Taught: Real Estate Principles, Brokerage

3/88 - 7/91 PM Realty Group

Vice President of Marketing

Houston-based national real estate property management company

1/87 - 5/89 Adjunct Faculty

University of Houston - Downtown

Dept. of Finance, Accounting, CIS

Courses Taught: Business Finance

6/86 - 3/88 The Horne Company

Retail Brokerage Associate

Houston-based regional commercial real estate company

9/85 - 5/86 Instructor

Stephen F. Austin State University

Department of Economics and Finance

3/83 - 8/84 Henry S. Miller Company

Industrial Brokerage Sales Associate

Dallas-based regional commercial real estate company

Membership in Professional Organizations

American Finance Association

Certified Financial Planner Board of Standards

CFA Institute

Nashville Society of Financial Analysts

Financial Planning Association

Academy of Financial Services

Refereed Publications

Wells, Donald W., Susan Bize, and David W. Durr, “Exercising Incentive Stock Options by Exchanging Stock for Stock: A Means of Building Individual Wealth,” Journal of Financial Service Professionals, Volume 59, Number 2, March 2005.

Ramaswamy, Vinita, Joe C. Ueng, and David W. Durr, “Growth and Performance as Key Factors in Underwriter Switches by IPO’s, Journal of Business and Economic Perspectives, Volume XXX, Number 2, Spring/Fall 2004.

Duangploy, Orapin and David W. Durr, “The Earnings Quality under Non-Amortization of Goodwill, Journal of Accounting and Finance Research, Volume 11, Number 6, Winter II, 2003.

Duangploy, Orapin and David W. Durr, “The Value Relevance of Proforma Net Income under SFAS 123: Old Economy versus New Economy Firms,” Academy of Accounting and Financial Studies Journal, 2002.

Forjan, James M., and David W. Durr, “Empirical Evidence of Voting Outcomes of Shareholder Sponsored Proposals,” Journal of Business and Economic Perspectives, Volume XXVI, No. 2, Fall/Winter 2000.

Forjan, James, David Durr and John Theis, "An Investigation of the Relationship Between Dutch Auction Repurchase Tender Offers and Cash Dividend Payments." Managerial Finance, Volume 26, No. 8, 2000.

Durr David W., "Intra and Inter-Industry Effects of REIT Bankruptcy." The Journal of Business and Economic Perspectives, Volume 24, Number 1, 29-47, Spring/Summer 1998.

Durr, David, Philip H. Siegel and Khondkar E. Karim, “Evidence of the Impact of Omnibus Budget Reconciliation Act of 1993: The Case of Real Estate Investment Trusts.” Advances in Taxation, Vol. 10, (1998), pages 31-56.

Durr, David, Philip H. Siegel and Khondkar E. Karim, “Finite-Life and Perpetual Real Estate Investment Trusts: A Re-Examination of Risk and Return.” Advances in Investment Analysis and Portfolio Management, 1998, Vol. 5, pages 193-206.

Omer, Khursheed, David W. Durr and Philip Siegel, “Degree of Multinationality and Financial Performance: A Study of U.S.-Based Multinational Corporations.” Review of Quantitative Finance and Accounting, 11 (1998): 53-68.

Smith, Charles A. and David W. Durr, “The Effects of Freeway Construction on Auto Sales.” Right of Way, March/April 1997.

Durr, David W., James M. Forjan and Michael S. McCorry, "Precaution or Reaction? Management’s Motivation for Proposing Classified Board Provisions," Journal of Business and Economic Perspectives, Fall/Winter 1996.

Proceedings

Durr, David W., Serrano, Jan M., and James M. Forjan, “Benchmark Selection and the Impact on Mutual Fund Rankings,” 2004 Academy of Financial Services Program Proceedings Paper Abstracts, 18^th Annual Meeting, 2004.

Ueng, Joe, Ramaswamy, Vinita, and David W. Durr, “Underwriter Switches by IPO Firms,” The Proceedings of The Economics & International Business Research Conference, Vol. 2, Number 1, December 2003. This paper was presented at The Economics & International Business Research Conference in December 2003.

Forjan, James and David Durr, "Long Horizon Stock Market Reaction to Dutch Auction Repurchases.” Published in the Proceedings of the Southwestern Finance Association, 1999.

Durr, David, Philip H. Siegel and Khondkar E. Karim, “REIT Industry Reaction to OBRA 1993.” Published in the Proceedings of the American Accounting Association Western Region 15^th Annual Meeting, 1997.

Durr, David W., "The Economic Information Content of REIT Bankruptcy," Social Science Perspectives Journal, Spring 1996.

Durr, David W., James M. Forjan and Michael S. McCorry, "The Motivation for Adopting Classified Board Provisions: Entrenchment or Information," Midwest Review of Finance and Insurance - Proceedings Issue 1995, Volume 9, Number 1, pp. 51-61.

Presentations

International

Durr, David, Philip H. Siegel and Khondkar E. Karim, “Finite-life and Perpetual Real Estate Investment Trusts: A Case of Risk and Return Characteristics,” presented by Dr. Karim at the Fifth Conference on Pacific Basin Business, Economics, and Finance in Singapore.

National

Durr, David W., Serrano, Jan M., and James M. Forjan, “Benchmark Selection and the Impact on Mutual Fund Rankings,” 2004 Academy of Financial Services Program Proceedings Paper Abstracts, 18^th Annual Meeting, 2004.

Ueng, Joe, Ramaswamy, Vinita, and David W. Durr, “Underwriter Switches by IPO Firms,” presented by Dr. Ramaswamy at The Economics & International Business Research Conference in December 2003.

Durr, David, Philip H. Siegel and Khondkar E. Karim, “REIT Industry Reaction to OBRA 1993,” presented by Dr. Karim at the 1997 American Accounting Association Annual Meeting, Western Region, in Rohnert Park, California.

Omer, Khursheed, David Durr and Philip H. Siegel, "Marginal Benefits of International Diversification: A Study of U.S. Based Multinational Corporations." Presented at the 4^th Conference on Pacific Basin Business, Economics and Finance, Rutgers University, New Brunswick, NJ.

Durr, David W., “The Economic Information Content of REIT Bankruptcy,” presented at the 1996 National Social Science Association meeting in Reno, Nevada.

Duangploy, Orapin and David W. Durr, “The Value Relevance of Proforma Net Income under SFAS 123: Old Economy versus New Economy Firms,” presented by Dr. Duangploy at the Allied Academies International Conference in Nashville, April 2002.

Regional

Forjan, James M. and David W. Durr, "Long Horizon Stock Market Reaction to Dutch Auction Repurchases,” presented at the 1999 Southwestern Finance Association meeting in Houston.

Forjan, James M. and David W. Durr, "An Investigation of the Relationship Between Dutch Auction Repurchase Tender Offers and Cash Dividend Payments,” to be presented (April 1999) at the 1999 Eastern Finance Association Annual Meeting in Miami Beach, Florida.

Forjan, James M. and David W. Durr, "An Investigation of the Relationship Between Share Repurchase Tender Offers and Cash Dividend Payments,” presented at the 1998 Southwestern Finance Association meeting in Dallas.

Omer, Khursheed, David W. Durr and Philip Siegel, “Degree of Multinationality and Financial Performance: A Study of U.S.-Based Multinational Corporations,” presented at the 1997 Southwestern Finance Association meeting in New Orleans.

Forjan, James M. and David W. Durr, "Share Repurchase Tender Offers and Cash Dividends,” presented at the 1997 Southwestern Finance Association meeting in New Orleans.

Forjan, James M. and David W. Durr, "An Empirical Examination of Dividend Initiatives and Changes in Long Term Debt," presented at the 1996 Southwestern Finance Association meeting in San Antonio, Texas.

Omer, Khursheed, David Durr and Philip H. Siegel, "Marginal Benefits of International Diversification: A Study of U.S. Based Multinational Corporations," presented at the 1996 Southwestern Finance Association meeting in San Antonio, Texas.

Durr, David. W., "The Impact of OBRA 1993 on the REIT Industry." Presented at the 1995 Southwestern Finance Association Meeting.

Durr, David W., James M. Forjan and Michael S. McCorry, "The Motivation for Adopting Classified Board Provisions: Entrenchment or Information," Presented at the 31st Annual Meeting of the Midwest Business Administration Association, Chicago, Il.

Paper Discussant/Reviewer at Professional Meetings

Paper Discussant for 1994 Southwest Finance Association Meeting, Dallas, Texas.

Paper Discussant for 1996 Southwest Finance Association Meeting, San Antonio, Texas.

Paper Discussant for 1997 Southwest Finance Association Meeting, New Orleans, LA.

Paper Reviewer for 1999 Southwest Finance Association Meeting, Houston, Texas.

Session Chair for 1999 Southwest Finance Association Meeting, Houston, Texas.

Paper Discussant for 1999 Southwest Finance Association Meeting, Houston, Texas.

Paper Reviewer for 2000 Southwest Finance Association Meeting, San Antonio, Texas.

Paper Reviewer for 2004 Academy of Financial Services Program, New Orleans, LA.

Professional Activities

Director of the CFP Board Registered at Murray State University.

Guest Co-Editor, Managerial Finance, Volume 26, Number 8, 2000. Barmarick Publications, England.

Developed and directed a training program for finance and accounting professionals touring the United States from China.