Directory

Directory

Antonio Macias

Assistant Professor - Finance, Insurance & Real Estate

Contact Information

Email:  Antonio_Jesus@baylor.edu
Campus Phone:  (254) 710-4140
Fax:  (254) 710-1092
Mailing Address:  One Bear Place #98004
Waco, TX  76798-8004
Office Location:  Foster Business and Innovation 320.36

Office Hours

Fall 2018
TR 1:30 - 3:00
Also by appointment

Educational Background

  • PHD - Finance, Purdue Univ West Lafayette
  • MS - Economics, Stanford University
  • MS - Industrial Engineer, Stanford University
  • BSC - Chemical Engineering, Ins Tec Y Estudio De Monterrey

Work Experience

  • Assistant Professor of Finance, Baylor University (August 2014 - Present)
  • Assistant Professor of Finance, Texas Christian University (2009 - 2014)
  • Visiting Instructor, Purdue University (August 2008 - May 2009)
  • Adjunct Professor, EGADE-Graduate School of Business. Monterrey Institute of Technology (ITESM), (January 2003 - December 2004)
  • Graduate Student Assistant, Stanford University (June 1998 - July 1998)
  • Senior Associate, M&A Strategic Business Development, CEMEX (Largest building-materials firm in the Americas (3rd largest worldwide). Presence in more than 65 countries across the five continents) (1998 - 2004)
  • Industrial Engineer, Colgate-Palmolive (1994 - 1996)
  • Operations Management trainee, Procter & Gamble (May 1993 - August 1993)

Awards and Honors

  • "MBA electives" teaching award, Texas Christian University (December 2013)
  • “Favorite Professors” by MBA Class 2011, Texas Christian University (December 2011)
  • Robert W. Johnson Award for Distinguished Research Proposal,, Krannert School of Management – Purdue University (July 2008)
  • Certificate for Outstanding Research,, Krannert School of Management – Purdue University (December 2007)
  • Certificate for Outstanding Teaching,, Krannert School of Management – Purdue University (December 2007)
  • Purdue Research Foundation Grant, Krannert School of Management – Purdue University (September 2007)
  • Andrews Fellowship, Krannert School of Management – Purdue University (June 2006)
  • The Citigroup Foundation Finance Doctoral Scholarship, The Citigroup Foundation (June 2006)
  • Stanford Alumni Scholarship, Stanford University Alumni association, Mexico (August 1997)
  • Stanford Global Leadership Project, Stanford University (August 1997)
  • Stanford University- CEMEX Masters Scholarship, CEMEX (Cementos Mexicanos) (August 1997)
  • ITESM Football-Soccer Scholarship, ITESM (Tech of Monterrey) (November 1993)

Professional Memberships

  • American Finance Association (AFA)
  • Financial Management Association International (FMA)

Biography

Dr. Macias joined Baylor University in 2014 as an Assistant Professor of Finance. Dr. Macias has previously taught at Texas Christian University and at Purdue University for a total of 6 years. He earned his B.S. as Chemical Engineer from the Tech of Monterrey (ITESM) in Mexico, his 2 MSc (Industrial Engineering-Engineering Management and Engineering Economic Systems-Operations Research) from Stanford University, and his PhD in Finance from Purdue University. His research interests are in Empirical Corporate Finance, in particular Mergers and Acquisitions. Dr. Macias has ample international work experience as a practitioner in M&A having worked for 6 years with CEMEX, one of the most active international acquirers in the last 20 years. He is fluent in English and Spanish, and conversational in German and French.

Publications

Basic or Discovery Scholarship

Macias, Antonio J., and Thomas Moeller, 2016, "Target signaling with material adverse change clauses in merger agreements", Journal of Empirical Finance, 39: 69-92

"Broken Promises: The Role of Reputation in Private Equity Contracting and Strategic Default," Journal of Corporation Law, The, (2015) (coauthors: Matthew D Cain, Steven M Davidoff-Solomon).

"Employees and the market for Corporate Control," Journal of Corporate Finance, (2015) (coauthors: Christo Pirinsky).

"Economic Consequences of Corporate Governance Reform in an Emerging Capital Market: Evidence from México," Trimestre Economico, (2014) (coauthors: Francisco J Roman).

"Material Adverse Change Clauses And Acquisition Dynamics," Journal of Financial and Quantitative Analysis, (2013) (coauthors: David J Denis).

Applied or Integration/Application Scholarship

"Materials Management at Lucent Technologies: 3C vs. MRP," Stanford Global Supply Chain Management Forum, (1998).

Presentations and Proceedings

Basic or Discovery Scholarship

"Intangible Assets and Capital Structure," presented at the Inaugural Baltic Economic Conference, Vilniaus, Lithuania, June 2018 (coauthors: Steve Lim, Thomas Moeller).

"Intangible Assets and Capital Structure," presented at the Finance seminar at Texas Tech University, Lubbock, TX, June 2017 (coauthors: Steve Lim, Thomas Moeller).

"Intangible Assets and Capital Structure," presented at the Baylor Internal seminar, Waco, TX, March 2017 (coauthors: Steve Lim, Thomas Moeller).

"Shareholder Decision Rights in Acquisitions: Evidence from Tender Offers," presented at the FMA LatinAmerica conference, ITAM Mexico City, Mexico, February 2017 (coauthors: Audra Boone, Brian Broughman).

"Are serial acquirers born or made?," presented at the FMA LatinAmerica conference, Mexico City, Mexico, February 2017 (coauthors: Raghavendra Rau, Aris Stouraitis).

"Are serial acquirers born or made?," presented at the FMA general meetings 2016, Las Vegas, Nevada, USA, October 2016 (coauthors: Raghavendra Rau, Aris Stouraitis).

"Shareholder Decision Rights in Acquisitions: Evidence from Tender Offers," presented at the FMA general meetings 2016, Las Vegas, Nevada, USA, October 2016 (coauthors: Audra Boone, Brian Broughman).

"Shareholder Decision Rights in Acquisitions: Evidence from Tender Offers," presented at the Lone Star Conference, Texas Christian University, Fort Worth, TX USA, September 2016 (coauthors: Audra Boone, Brian Broughman).

"Are serial acquirers born or made?," presented at the Western Finance Association, Park City, Utah., June 2016 (coauthors: Raghavendra Rau, Aris Stouraitis).

"Are serial acquirers born or made?," presented at the 2016 Workshop in Corporate Finance at Dauphine Université Paris, Paris, France, June 2016 (coauthors: Raghavendra Rau, Aris Stouraitis).

"The Cost of Supermajority Target Shareholder Approval: Mergers versus Tender Offers," presented at the American Law and Economics Association Annual Meeting, Harvard Law School, May 2016 (coauthors: Audra Boone, Brian Broughman).

"Are serial acquirers born or made?," presented at the Finance seminar at University of Bristol, Bristol, UK, May 2016 (coauthors: Raghavendra Rau, Aris Stouraitis).

"The Cost of Supermajority Target Shareholder Approval: Mergers versus Tender Offers," presented at the Finance seminar, Baylor University, April 2016 (coauthors: Audra Boone, Brian Broughman).

"The Cost of Supermajority Target Shareholder Approval: Mergers versus Tender Offers," presented at the Finance seminar, Wachington, DC USA, April 2016 (coauthors: Audra Boone, Brian Broughman).

"The Cost of Supermajority Target Shareholder Approval: Mergers versus Tender Offers," presented at the Fourth ECCCS Workshop on Governance and Control, Paris-La Defense, France, March 2016 (coauthors: Audra Boone, Brian Broughman).

"The Cost of Supermajority Target Shareholder Approval: Mergers versus Tender Offers," presented at the Conference on Empirical Legal Studies, Washington University School of Law, St. Louis, October 2015 (coauthors: Audra Boone, Brian Broughman).

"Internally Generated Intangible Assets and Capital Structure," presented at the Financial Management Association Annual meeting, Orlando, FL, October 2015 (coauthors: Steve Lim, Thomas Moeller).

"Serial Acquirers," presented at the Brown bag presentation at Baylor University, Baylor University, October 2015 (coauthors: Raghavendra Rau, Aris Stouraitis).

"Serial Acquirers," presented at the Finance Seminar Northeastern University, Boston, MA, September 2015 (coauthors: Raghavendra Rau, Aris Stouraitis).

"Intangible Assets and Capital Structure," presented at the Lone Star Conference, Rice University, Houston, September 2014 (coauthors: Steve Lim, Thomas Moeller).

"Intangible Assets and Capital Structure," presented at the Brown Bag presentation, Baylor University, August 2014 (coauthors: Steve Lim, Thomas Moeller).

"Intangible Assets and Capital Structure," presented at the Brown Bag presentation, Texas Christian University, January 2014 (coauthors: Steve Lim, Thomas Moeller).
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