Phillip Daves, Associate Professor, Voight Scholar and Director of the Finance Ph.D. Program Department of Finance College of Business Administration 429 Stokely Management Center Phone: 865-974-1727 Fax: 865-974-1716 Email: pdaves@utk.edu Personal Web Page: http://web.utk.edu/~prdaves

Dr. Daves received his Ph.D. in Business Administration (Finance) at the University of North Carolina at Chapel Hill. Currently, he is an Associate Professor in the Department of Finance at The University of Tennessee. His research, teaching, and consulting interests are in asset valuation, derivative securities, firm valuation, and dividend policy. He has published academic research papers in such journals as The Journal of Finance, Applied Financial Economics, The Financial Review, and The International Journal of Finance. He has consulted in the areas of derivative securities and risk management education, business valuation, and acquisition analysis. Customers include: First Tennessee National Bank; University of Tennessee's Life Care Medical Associates, PA.; IJ Corporation; Clayton Homes, Inc., and Bush Brothers, the Department of Human Services, and the City of Nashville."