Bill 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 320.41

Office Hours

9:30-11:00 a.m. Monday and Wednesday;
2:00-3:30 p.m. Tuesday and Thursday.
Also by appointment.

Educational Background

  • Ph D - Business Administration, UNIV TEXAS AUSTIN, 1971
  • MBA - Finance, UNIV TEXAS AUSTIN, 1969

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, Frank Hoy).

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

Small Business Management: Launching & Growing Entrepreneurial Ventures, 15e, 2010 (coauthors: Justin G. Longenecker Carlos W. Moore Leslie Palich, 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, James Wallace).

Teaching and Learning Scholarship

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

Foundations of Finance, 6e, 2007 (coauthors: Arthur J. Keown, David F. Scott , Jr., and John D. Martin).

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

"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 (coauthors: John D. Martin).

"Harvesting Value from Entrepreneurial Success," Bank of America Journal of Applied Corporate Finance, Vol. 12, No. 4, (Winter 2000), pp. pp. 81-93 (coauthors: John W. Kensinger and John D. Martin).

Harvesting Investments in Private Companies, Newark, NJ, 1999 (coauthors: John D. Martin and John W. Kensinger).

Basic or Discovery Scholarship

"Harvesting Firm Value: Process and Results," Entrepreneurship 2000, (1997), pp. pp. 71-98.

Teaching and Learning Scholarship

Cases in Finance, Englewood Cliffs, New Jersey, 1992 (coauthors: John D. Martin, D. F. Scott, J. B. Thatcher).

Financial Management of the Small Firm, Englewood Cliffs, New Jersey, 1986 (coauthors: Ernest Walker).

Presentations and Proceedings

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