Author Description

About the Author Scott Besley is associate professor and department chair at the University of South Florida, where he has taught since 1982. Dr. Besley received his Ph.D. from the Florida State University in 1984, with a major in finance and a minor in accounting. Dr. Besley served as president of the Southern Finance Association (2002), where he also served as the VP of Program (2001) and VP of Arrangements (1995). He is active in the Financial Management Association (Budget Committee and Program Committee Member, since 1985) and the Eastern Finance Association (Committee Member). Dr. Besley is also active in several local organizations, serving on the boards of the USF Federal Credit Union (treasurer), Academy of Finance of Hillsborough County Schools (chair), and the CFA Tampa Bay (education liaison) and as a member of the Investment Oversight Committee for the Pinellas County School Board.Dr. Eugene F. Brigham is Graduate Research Professor Emeritus at the University of Florida, where he has taught since 1971. Dr. Brigham received his M.B.A. and Ph.D. from the University of California-Berkeley and his undergraduate degree from the University of North Carolina. Prior to joining the University of Florida, Dr. Brigham held teaching positions at the University of Connecticut, the University of Wisconsin, and the University of California-Los Angeles. Dr. Brigham has served as president of the Financial Management Association and has written more than the 40 journal articles on the cost of capital, capital structure, and other aspects of financial management. The ten textbooks on managerial finance and managerial economics that he authored or co-authored are used at more than 1,000 universities in the United States, and have been translated into 11 languages worldwide. He has testified as an expert witness in numerous electric, gas, and telephone rate cases at both federal and state levels. He has served as a consultant to many corporations and government agenci