J. William Petty

W. W. Caruth Chair of Entrepreneurship - Finance, Insurance & Real Estate

Contact Information

Campus Phone:  (254) 710-2260
Fax:  (254) 710-1092
Mailing Address:  One Bear Place #98004
Waco, TX  76798-8004
Office Location:  Foster Business and Innovation 320.41

Office Hours

Spring 2017
MW 9:30-11:00
TR 2:00-3:30
Also by appointment.

Educational Background

  • PHD - Business Administration, Univ Texas Austin
  • MBA - Finance, Univ Texas Austin
  • BS - Marketing, Abilene Chrstn Univ Abilene

Work Experience

  • Board of Trustees, Financial Management Association (2012 - 2015)
  • Chair, Venture Finance Iterest Goup, united States Small Business and Enrepreneurship Association (January 2009 - January 2014)
  • Chair Academic Affairs Committee, Abilene Christian University (2007 - 2014)
  • Board of Directors, HKN Energy (January 2000 - Present)
  • Financial Executive Institute, Academic Advisory Council (January 1998 - December 2000)
  • Member Advisory Group, Australian government (January 1997 - December 1997)
  • Subject Matter Expert, American Productivity & Quality Center (January 1997 - December 1997)
  • Professor of Finance &the W.W. Caruth Chair of Entrepreneurship, Finance, Insurance, & Real Estate Department (1990 - Present)
  • Visiting Professor, University of Texas at Austin (January 1990 - July 1990)
  • Visiting Professor, Northeastern Unversity (June 1983 - August 1983)
  • Visiting Professor, Northeastern University (June 1981 - August 1981)
  • Dean, College of Business Administration, Abilene Cristian University (1981 - 1989)
  • Professor of Finance, Abilene Christian University (1979 - 1990)
  • Visiting professor, Northeastern University (June 1978 - August 1978)
  • Visiting Professor, Northeastern University (June 1974 - August 1974)
  • Faculty Intern, U.S. Treasury (June 1973 - August 1973)
  • Professor of Finance, Texas Tech University (1973 - 1979)
  • Assistant Professor, Virginia Tech University (1970 - 1973)


  • Management, HKN Energy, South Lake, TX (April 2002 - Present)

Awards and Honors

  • National Entrepreneurship Teacher of the Year, Acton Foundation for Entrepreneurial Excellence (2008)
  • University Master Teacher, Baylor University (2004)
  • Distinguished Professor Award, Hankamer School of Business (2001)
  • Nominee for the Piper Outstanding Professor Award, Baylor University (2000)
  • Nominee for the Piper Outstanding Professor Award, Baylor University (1999)
  • Outstanding University Professor, Baylor University (1998)
  • Outstanding Professor, Hankamer School of Business (1997)

Licensures and Certifications

  • CPA (inactive), State of Texas

Professional Memberships

  • American Finance Association
  • Angel Capital Association
  • Association of Governing Boards
  • Chair, venture finance division, united States Small Businesxs and Enrepreneurship
  • Financial Management Association


Bill Petty is Professor of Finance, and the W.W. Caruth Chairholder of Entrepreneurship, at Baylor University, where he is designated as a University Master Teacher. Before entering the academic profession, he worked in the oil and gas industry, and currently serves on the board of a publicly-traded independent energy firm. He has published in numerous finance journals and is the co-author of two leading corporate finance textbook, Financial Management, and Foundations of Finance, and co-author of a widely used text, Small Business Management. He has also co-authored a book, Value-Based Management: Corporate America’s Response to the Shareholder Revolution, published by the Oxford University Press.


Teaching and Learning Scholarship

Foundations of Finance, NYC, NY: Pearson, January 2017 (coauthors: John D. Martin).

Small Business Management, Mason, OH: Cengage, January 2017 (coauthors: Leslie E. Palich).

Small Business Management: An Entrepreneurial Approach, 16e, 2012 (coauthors: Carlos Moore, Leslie E. Palich).

Small Business Management: Launching & Growing Entrepreneurial Ventures, 15e, 2010 (coauthors: Carlos Moore, Leslie E. Palich).

"Free Cash Flow, the Cash Flow Identity, and the Accounting Statement of Cash Flows," Journal of Financial Education, Vol. 35, (Fall 2009), pp. 41-55 (coauthors: John T. Rose).

Basic or Discovery Scholarship

"Shareholder Value Maximization: Is There a Role for Corporate Social Responsibility," Journal of Applied Corporate Finance, Vol. 21, No. 2, (Spring 2009) (coauthors: John D. Martin).

Teaching and Learning Scholarship

Small Business Management: An Entrepreneurial Emphasis, 14e, December 2008 (coauthors: Carlos Moore, Leslie E. Palich).

Foundations of Finance, 6e, 2007.

Small Business Management, February 2006 (coauthors: Carlos Moore, Leslie E. Palich, Jim Roberts).

Manajemen Keuangan, Upper Saddle River, NJ, 2005 (coauthors: John D. Martin).

Basic or Discovery Scholarship

"An Analysis of EVA and Other Measures of Firm Performance-Based on Residual Income," Journal of Financial Research, The, (2005) (coauthors: John D. Martin, Steven P. Rich).

"A Survey of EVA® and Other Residual Income Models of Firm Performance," Journal of Finance Literature, Vol. 1, (January 2005) (coauthors: John D. Martin, Steven P. Rich).

Applied or Integration/Application Scholarship

Harvesting Company Value, 2003.

"Value Based Management: Corporate America's Response to the Shareholder Revolution," Baylor Business Review, Vol. 19, No. 1, (April 2001), pp. 3-Feb.

"Harvesting Value from Entrepreneurial Success," Bank of America Journal of Applied Corporate Finance, Vol. 12, No. 4, (Winter 2000), pp. pp. 81-93.

Harvesting Investments in Private Companies, Newark, NJ, 1999.

Basic or Discovery Scholarship

Harvesting Firm Value: Process and Results, 1997.

Teaching and Learning Scholarship

Cases in Finance, Englewood Cliffs, New Jersey, 1992 (coauthors: John D. Martin).

Financial Management of the Small Firm, Englewood Cliffs, New Jersey, 1986.

Presentations and Proceedings

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