פרופ' שמעון בנינגה ז"ל

פרופ' שמעון בנינגה חוקר בתחומי המימון.  קיבל דוקטורט מאוניברסיטת תל אביב ב- 1978.  במשך השנים היה חבר סגל באוניברסיטה העברית, באוניברסיטת פנסילווניה (וורטון), וכמובן אוניברסיטת תל אביב.  פרסם כ-50 מאמרים מדעיים וארבעה ספרים, שנמכרו בכ- 200,000 עותקים ויצאו בכ- 10 תרגומים.  מילא מגוון תפקידים בפקולטה לניהול, כולל דקאן הפקולטה בין 2003-2007.  

מימון חישובי, מודלים פיננסיים, שערי ריבית, מימון חברות.

“Competitive Equilibrium with Bankruptcy in a Sequence of Markets,” International Economic Review, October 1979, pp. 557-575.

 

“General Equilibrium with Financial Markets,” Journal of Finance, May 1979, pp. 325-339.

 

“Majority Choice and the Objective Function of the Firm under  Uncertainty,” (with Eitan Muller). Bell Journal of Economics, Fall 1979, pp. 670-682. 

 

“Real and Nominal Interest Rates under Uncertainty:  The Fisher Theorem  and the Term Structure,” (with ArisProtopapadakis).  Journal of Political Economy, Vol. 91, October 1983, pp. 856-867.

 

“The Neutrality of the Real Equilibrium under Alternative Financing of  Government Expenditures,” (with ArisProtopapadakis).  Journal of Monetary Economics, Vol. 14, September 1984, pp. 183-208. 

 

“An Empirical Analysis of the Delivery Option, Marking to Market, and  the Pricing of Treasury Bond Futures,” (with Michael Smirlock).  Journal of Futures Markets, Vol. 5, Fall 1985, pp. 361-74.

 

“Optimal International Hedging in Commodity and Currency Forward  Markets,” (with Rafael Eldor and ItzhakZilcha). Journal of International Money and Finance, Vol. 4, December 1985, pp. 537-552.

 

“On the Optimality of Portfolio Insurance,” (with Marshall  Blume).  Journal of Finance, Vol. 40, December 1985, pp. 1341-52.

 

“General Equilibrium Properties of the Term Structure of Interest  Rates,” (with ArisProtopapadakis).  Journal of Financial Economics, Vol. 16, July 1986, pp. 389-410.

 

“Revenue-Neutral Changes in Corporate and Personal Income Taxes and Government Debt,” (with Eli Talmor). in Economic Effects of the Government Budget, Cambridge, MA:  MIT Press, 1988, pp. 50-64.

 

“The Equilibrium Pricing of Exchange Rates and Assets when Trade Takes Time,” (with ArisProtopapadakis).  Journal of International Money and Finance 7, June 1988, pp. 129-149.

 

“The Interaction of Corporate and Government Financing in General Equilibrium,” (with Eli Talmor).  Journal of Business, Vol. 61, April 1988, pp. 233-258.

 

“Fiscal Policy and the Term Structure of Interest Rates,”  (with Uri Possen). Journal of Public Economics, December 1988, Vol. 37, pp. 331-344.

 

“Leverage, Time Preference and the Equity Premium Puzzle,” (with ArisProtopapadakis).  Journal of Monetary Economics 25, January 1990, pp. 49-58.

 

“The Stock Market Premium, Production, and Relative Risk Aversion,” (with ArisProtopapadakis).  American Economic Review, June 1991, pp. 591-599.

 

“Non-WalrasianEquilibria with Speculation.”  Journal of Economic Behavior and Organization 17, December 1991, pp. 241-256.

 

“Market Expectations of Risk-Free Rates and Volatilities Before and After October 1987,” (with Uri Loewenstein and Oded Sarig).  Journal of Banking and Finance 17 (February 1993), pp. 105-116.

 

“Forward and Futures Prices with Markovian Interest Rate Processes,”  Co-authored with ArisProtopapadakis, Journal of Business 67 (July 1994), pp. 401-421.

 

“Limiting Differences Between Forward and Futures Prices in a Lucas Consumption Model,” co-authored with Zvi Wiener and ArisProtopapadakis.  Journal of International Financial Markets, Institutions and Money, Vol. 10, number 2, June 2000, pp. 151-161.

 

“Heterogeneity and Option Pricing,” co-authored with JoramMayshar, Review of Derivatives Research, vol. 4, 2000, pp. 7-27.

 

“On the Use of Numeraire Methods in Option Pricing,” co-authored with Tomas Björk and Zvi Wiener.  Journal of Derivatives, Winter 2002, Vol. 10, No. 2,  pp. 1-15 (lead paper).

“Risk, Returns and Values in the Presence of Differential Taxation,” co-authored with Oded Sarig.  Journal of Banking and Finance, Vol. 27, number 6, 2003, pp. 1123-38.

“Hedging With Forwards And Puts In Complete And Incomplete Markets,” co-authored with Casper Oosterhof, Journal of Banking and Finance, 2004, Vol. 28, No. 1, pp. 1 – 17 (lead paper).

 

“The Timing of Initial Public Offerings,” joint paper with Mark Helmantel and Oded Sarig, Journal of Financial Economics, 2005, Vol. 75, No. 1, 115-132.

 

“Shrinking the Covariance Matrix—Simpler is Better,” co-authored with David J. Disatnik.  Journal of Portfolio Management, Summer 2007, Vol 33, No. 4, pp. 56-63.

 

“Taxation and the Valuation of Employee Stock Options,” co-authored with Menachem Abudy, International Journal Managerial Finance, 2011, Vol. 7, No. 1, pp. 9-37 .

 

“The Uncertainty Premium in an Ambiguous Economy,” co-authored with Yehuda Itzhakian.  Quarterly Journal of Finance, 2011, Vol. 1, No. 2, pp.323-354.

 

“Production and Hedging Implications of Executive Compensation Schemes,” co-authored with Sagi Akron.  Journal of Corporate Finance.  Vol. 19, February 2013, pp. 119–139.

 

“Non-Marketability and the Value of Employee Stock Options,” co-authored with Menachem Abudy.  Journal of Banking and Finance, forthcoming.

 

 

 

BOOKS

I have published four books (7 different editions) that have sold around 200,000 copies.  The books have been translated into Japanese, Russian, Polish, Chinese, Italian, and Vietnamese.  There is also a Malaysian adaption of Principles of Finance with Excel.

 

Numerical Methods in Finance. Cambridge:  MIT Press, 1989, 241 pages.

Japanese translation--Tokyo:  Toyo KeizaiShinposha, 1991.
 

Corporate Finance:  A Valuation Approach (with Oded Sarig), 1997, McGraw-Hill, 440 pages. 

Translations:

Polish translation:  Finanseprzedsiebiorstwa:  Metodywyceny, published by WIG-Press, 2000.

Japanese translation—Tokyo:  ChupKeizaiSha, 2002.

 

Financial Modeling.  MIT Press. 

First edition, 1997, 405 pages.

Second edition (622 pages), August 2000.  Named best financial engineering textbook by Financial Engineering News, 2003. 

Third edition (1134 pages), December 2007.

Fourth edition, in preparation

Translations of second edition:

Italian translation, ModelliFinanziari, published by McGraw-Hill Libri of Milan, November 2001.

Chinese edition, Shanghai University of Finance and Economics Publishing House, January 2003.

Japanese edition published by Seibunsha, 2005.

Russian edition published by Williams Publishing, 2007

Translations of third edition:

Chinese edition, Truth and Freedom Press, 2010

Italian edition, McGraw-Hill Libri, forthcoming

Vietnamese edition, Tinh Van Corporation, forthcoming 2012

 

Principles of Finance with Excel.  Oxford University Press.

First edition, 2005 (907 pages)

Second edition, 2010 (801 pages)

Malaysian edition, June 2012 as Fundamentals of Finance with Microsoft Excel, local content by Noryati binti, Ahmad HamisahAbd Rahman, ZainoraAb Wahid.  Published by Oxford Fajar, Kuala Lumpur, 555 pages.

Russian translation:  forthcoming