Laurence Mauer

Dr. Laurence J. Mauer
Professor of Economics and Finance

Dr. Mauer's teaching areas include international corporate finance and money and capital markets. He holds the Ph.D. degree from the College of Business Administration, University of Tennessee. He joined St. John's University in 1983. From 1988-1995, he served as Associate Vice President and Dean, College of Business Administration.  From 1979-83, he worked with the GTE Corporation Corporate Planning Office, where he assisted in the preparation, coordination, and evaluation of strategic plans for GTE's international operations. From 1973 to 1979, he held the position of Vice President for the Northern Trust Company of Chicago. In that capacity, he was the international economist for this large financial service corporation. He worked closely with both the Foreign Exchange/Money Market Division and with the International Banking Department. Dr. Mauer was associated with the United Nations Industrial Development Organization in Vienna, Austria, as Industrial Development Officer and Research Consultant in 1969-1970. From 1967 through 1973, Dr. Mauer held the position of Associate Professor and Chairman of the Department of Economics at Northern Illinois University in De Kalb, Illinois.

He was awarded a National Science Foundation Grant to study "The External Effects of the European Economic Community", over the period 1969-1973. He has participated extensively in professional journals and has also given numerous presentations before scholarly/professional groups, including testimony before the Committee on Finance, United States Senate, in Washington, D.C. July 1985, on proposed legislation which subsequently was enacted as the "Tax Reform Act of 1986".

Courses Taught

Publications
 
Books
Global Finance, First and Second Editions. Addison Wesley Longman, Inc.: Reading, MA: 1998, pp. 640 (with Drs. Maximo Eng and Francis Lees). This book covers four key areas of global finance: international financial markets, international banking, international corporate financial management, and international portfolio management. Also published in Russian with Addison Wesley-Deka Publishers, translation supervised by Dr. Boris Milner of the Russian Academy of Science.

Peer Reviewed Journals
"Ringing out the Old," International Finance and Treasury, Vol. 26, No. 15, April 2000, pp. 1-4. (with Francis Lees)

“An Under-Used Set of Financial Tools,” International Finance and Treasury, April 1996, pp. 1-4.

“Implications of the International Debt Crisis for U.S. Multinationals,” Review of Business, Spring 1985, pp. 13-15.

“Economic Outlook for the European Community,” Commerce, Vol. 74, January 1978, pp. 32-37.

"A Note on Common Methods Used to Estimate Foreign Exchange Exposure," Journal of International Financial Markets, Institutions and Money. Accepted for publication. 

"Scale Economies in Hedging Foreign Exchange Cash Flow Exposures," Global Finance Journal. 15 (2004) 17-27. (with co-author; 50% contribution)  This article is listed as number 4 in the list of the 25 most widely requested articles published by the Global Finance Journal (over past 11 years), according to the survey of ScienceDirect. 

”Transaction vs Economic Exposure:  Which Has Greater Cash Flow Consequences?”  International Review of Economics and Finance, 12 (2003), pp. 437-449.

“The Euro and Treasury Practices: Full Benefits Lie Ahead,” AFP Exchange, published by the Association for Financial Professionals, Vol. 23, No. 3, May/June 2003, pp. 48-52. (with co-author) The circulation of this journal is estimated at 15,000.  This paper was reprinted in the "Book of Readings on the Management of Multinational Corporations,"  Institute of Chartered Financial Analysts of India.  

“Exchange Rate Exposures of U.S. Banks: A Cash Flow-Based Methodology,” Journal of Banking and Finance, Vol. 27, No. 5, May 2003, pp. 851-865. (with co-author).

“The Eurozone Formation: MNC and International Bank Reactions,” Thunderbird International Business Review, Vol. 45(1), January-February 2003, pp. 15-30. (with co-author).

"American Companies Should Prepare for the U.K. Entering the Euro System,” Review of Business, Vol. 23(3), Fall 2002, pp. 20-23. (with co-author).

“Eurozone Banking Structure,” International Finance and Treasury, Vol. 27, No. 47, November 2001, pp. 1-3. Also published in International Reports, November 2001. (with co-author)

“A Cash-Flow Approach to Measuring Foreign Exchange Exposure Management,” Corporate Finance, Vol. 4, No. 6, May/June 2000, pp. 15-18. (with co-author)

“Exchange Rate Effects on Operating Income Performance: Evidence from Canadian MNCs,” Journal of Research in Finance, Vol. 2, No. 1, Summer 1999, pp. 82-107.

“Accounting Disclosures Required by the Securities Acts of 1933 and 1934,”  Encyclopedia of Business and Finance, Macmillan Library Reference: New York, NY, 2000, pp. 758-761.  (with co-author)

“The European Monetary Union: A Skeptic’s View,” Journal of Emerging Markets, Vol. 4, No. 1, Spring 1999, pp. 101-106.

“Tax Reform Act of 1986: Impact on U.S. International Competitiveness,” Washington Tax Review, Vol. 13, No. 3, March 1987, pp. 45-48.

“U.S. Tax Reform: Capital Recovery and International Direct Investment,” Business Economics, Journal of the National Association of Business Economists, with co–author Vol. XXI, No. 1, January 1986, pp. 50-54.

“MNCs Gain New Freedom Under FAS 52 Flexibility,” Management Accounting, Vol. LXV, No. 6, December 1983, pp. 30-33.

“The Impact of Controls on United States Direct Foreign Investment in the European Economic Community,” Southern Economic Journal, with co–author, Vol. XXXIX, January 1973, pp. 419-423.

“Logical Consistency and Jacob Mosak’s General Equilibrium in International Trade,” Indian Economic Journal, Vol. XXI, July-September 1973, pp. 37–41.

“Determinants of U.S. Direct Investment in the E.E.C.: Reply,” American Economic Review, with co-author, Vol. LXII, September 1972, pp. 700–704.

“Remittances from U.S. Direct Foreign Investment in the European Economic Community: An Exploratory Estimate of their Determinants.” Economia Internazionale, with co-author, Vol. XXV, February 1972, pp. 3-13.

“Racial Discrimination, Productivity and Negro–White Male Income,” Review of Social Economy, with co–author, Vol. XXVIII, September 1970, pp. 172-174.

“An Application of Activity Analysis to Regional Planning in the Elk River Area of the Tennessee Valley,” Land Economics, with co–author, Vol. XLVI, February 1970, pp. 81-91.

“The Determinants of U.S. Direct Investment in the E.E.C.,” American Economic Review, with co–author, Vol. LIX, September 1969, pp. 558-568.

“Commercial Bank Maturity Demand for U.S. Government Securities and the Determinants of the Term Structure of Interest Rates,” Journal of Financial and Quantitative Analysis, March 1969, pp. 37-52.

“An Application of Activity Analysis to Regional Development Planning,” TVA Staff Papers in Regional Analysis, with co–author, Tennessee Valley Authority, Knoxville, Tennessee, 1967, p. 1-34.

“The Patinkin Controversy – A Review,” Kyklos, International Review for Social Sciences, Vol. XIX, September 1966, pp. 299-314.

“Liberalized Depreciation Rules Seen Needed for U.S. Recovery,” The Money Manager, with co–author, April 1981, p. 13-14.

“Favorable Swing in U.S. Terms of Trade Has Perverse Effect,” The Money Manager, September 1979, p. 8-9.

Chapters in Books
“Exchange Rates and the Operating Income Performance of Foreign-based NCs,” in Chen, Shyu, and Flowers, Interlocking Global Business Systems, Greenwood Publishing Group: Westport, CT, 1999, pp. 161-172.

“The President’s 1985 Tax Reform Proposal: An Economic Assessment,” Examination of Basic Weaknesses of Income as the Major Federal Tax Base, edited by Richard W. Lindholm, Praeger, New York, 1986, pp. 230-250.

“Non–Tariff Distortions in International Trade: A Methodological Review,” Prospects for Eliminating Non-Tariff Distortions, with co–author, edited by A.E. Scaperlanda, John F. Kennedy Institute, Tilburg, Netherlands, 1973, pp. 47–59.

Refereed Proceedings
“Total Quality Management in Education: A Case Study,” with co-investigator, presented at QUIS 3, Quality in Services Conference, sponsored by the International Service Quality Association, at Karlstad, Sweden, June 1992. Published in QUIS 3 Conference Proceedings, pp. 113-122; cited in
www.uncfsu.edu/mba/syllabi/Mktg_675.pdf.

“European Monetary Union – Impact on Corporate Treasury Practice: A Dual Survey Comparison,” with Francis Lees, in Economies and Business in Transition, edited by Nejdet Delener and Chiang-Nan Chao, pp. 537-543. Presented at the 2001 Global Business and Technology Association, Istanbul, Turkey, July 2001.

"Assessing Market Risk for Companies without Market Price Data," with Samir Fahmy, in Business In the 21st Century, edited by S. Lodha, pp. 222-224. Presented at The 2000 New England Business Administration Association Conference, New Haven, CT, April 2000.

“An Empirical Investigation of the Market Determined and Accounting Determined Measures of Risk,” with Samir Fahmy and Khaled Abdelghany, presented at the Annual Conference of the American Academy of Accounting and Finance, November 1998, New Orleans, LA. The paper is published in the American Academy of Accounting and Finance 1998 Conference Collected Papers and Abstracts, edited by John W. Gill, pp. 137-142.

“Exchange Rates and the Corporate Performance of Foreign-based MNCs,” presented at the Seventh Annual Business and Economics Conference, held at the Chinese Culture University in Taipei, Taiwan, June 2-3, 1997. This paper received Best Paper Award at the Conference. The paper is published in the Managing Multinational Corporations Conference Proceedings, pp. 73-78.

“The Impact of Tax Reform on the International Competitive Position of American Industry: The President’s Proposal and House Bill HR3838.” Testimony before the United States International Trade Commission, with co–investigator, Washington, DC, January 1986. Published in Proceedings of the U.S. International Trade Commission.

“The President’s Tax Reform Proposal Will Diminish the International Competitive Position of American Industry.” Testimony before the Committee on Finance, United States Senate, Washington, DC, July 1985. Published in The Congressional Record.

Monographs
Why ITC/ACRS Should Be Retained. Published by the GTE Corporation, with co-investigator, 1985.

Book Reviews
Review of Blacks in the Industrial World, by Purcell and Cavanaugh, Review of Social Economy, Vol. XXXII, December 1974, pp. 107-109.

Review of MacroeconomicActivity: Theory, Forecasting and Control, by Michael K. Evans, Journal of Economic Literature, Vol. IX, March 1971, pp. 75-76.

Instructional Materials
Instructors’ Manual for Global Finance, Addison Wesley Longman, Inc.: Reading, MA: 1998 (with co-authors).

Professional Presentations

"A Comparison of Capital Market and Cash Flow Methods for Estimating Foreign Exchange Exposure," Southern Finance Association, 2003 Annual Meeting, December 3-6, 2003, Charleston, South Carolina. (with co-author; 50% contribution)

“Britain in or out of the Euro,” 2002 Global Business and Technology Association Conference, June 2002, Rome, Italy. (with Francis Lees)

“Foreign Exchange Exposure of U.S. Banks: A Comparison of Capital Market and Cash Flow Methods, with Anna Martin, University of Connecticut, Finance Department Ph.D. Faculty Seminar, March 2002.

“Commercial Bank Exchange Rate Exposures: A Cash Flow-Based Methodology,” with Anna Martin, 2001Southern Finance Association Conference, Destin, FL, November 2001.

"The Euro and Corporate Financial Practice: Results of a Survey," with Francis Lees, Twenty-Eighth Annual Meeting, Southwestern Federation of Administrative Disciplines, National and International Constituency, New Orleans, LA, February 2001.

“Economic Versus Transaction Exposure: Which is More Important?” with Anna Martin, 1999 Financial Management Association Conference, October 1999, Orlando, FL.

“Foreign Exchange Exposure and its Management: An Assessment of US-Based MNC’s Operating in Europe,” with Anna Martin, 1999 Financial Management Association European Conference, June 1999, Barcelona, Spain.

“A Cornerstone of Financial Technology: The Association Between Market Risk and Accounting Determined Risk Measures,” with Samir Fahmy and Khaled Abdelghany, International Conference of the Institute of Business Administration and Technology, July 1998, Toronto, Canada.

“Accounting Determined and Market Determined Measures of Risk,” with Samir Fahmy and Khaled Abdelghany, Twenty-fifth Anniversary Conference of the Northeast Business and Economics Association, October 1998, Newport, Rhode Island.

“Foreign MNC Operating Income and FX Exposures,” 1998 Eastern Finance Association Annual Meeting, Williamsburg, VA, April 22-25, 1998.

“Forces Toward Asian Integration,” St. John's University Asian Business and Economic Conference, New York City, November 1994.

“Eastern Europe in Transition: Direct Investment and Financial Problems Facing U.S. Firms.” International Trade and Finance Association, with co-investigator, Marseille, France, May 1991.

“Synchronism in International Business Cycle Turning Points: Measurement and Determinants.” Twenty–Fourth Atlantic Economic Conference, with co–investigator, New York City, September 1987.

“International Business Cycles: Evidence Supporting Reduced Synchronism.”  Thirteenth Annual Convention of the Eastern Economic Association, with co-investigator, Washington, DC, March 1987.

“U.S. Economic Outlook.” Consumer Credit Group of New York State, New York City, October 1986.

“A Critique of Reagan’s Tax Reform Proposal.” St. John’s University Faculty Forum, New York City, March 1986.

“International Effects of U.S. Capital Recovery Provisions.” North American Economics and Finance Association, Allied Social Science Associations, New York City, December 1985.

“U.S. Tax Reform: Impact of Capital Recovery Provisions.” Guest Lecture, University of Connecticut, Stamford, CT, December 1985.

“International Investment Implications of U.S. Tax Reforms.” Twentieth International Atlantic Economic Conference, Washington, DC, August 1985.

“Why ITC/ACRS Should Be Retained: The International Dimension.” Harvard University Center for Business and Government, with co–investigator, April 1985.

“Development Policy and Direction in the Peoples Republic of China Since 1976: Analysis.”Eighteenth International Atlantic Economic Conference, Montreal, Canada, October 1984.

“Implications of the International Debt Crisis for U.S. Multinationals.”  Annual Meeting of Society of Government Economists, with co–investigator, Washington, DC, March 1984.

“The Federal Deficit, the International Sector and the Outlook for the U.S. Economy.” Keynote presentation for the Ninth Annual Economic Forecasting Conference, Tennessee Technological University, Cookville, Tennessee, February 1984.

“Structural Change in the International Sector.” National Association of Business Economists – Fairfield County Chapter, Stamford, Connecticut, December 1983.

“Economic Issues for the 1980’s.” Public Affairs Council, Washington, DC, September 1983.

“Implications of FAS 52 for International Financial Flows.” National Association of Business Economists, Seattle, Washington, September 1982.

“Linkages Between U.S. Corporations and International Financial Markets.” Society of Government Economists, Washington, DC, March 1981.

“Who Bears the Burden of the World’s Oil Troubles?” Guest Lecture, University of Illinois – Chicago Circle, Chicago, Illinois, November 1976.

“The Emerging Theory of Direct Investment” and “Econometric Models of the U.S. Economy with Special Emphasis on the Monetary Sector.” Tilberg University, Tilburg, The Netherlands, April 1973.

“Criteria for University Resource Allocation.” Testimony before the Illinois Board of Higher Education, De Kalb, Illinois, April 1972.

“External Effects of EEC Non–tariff Distortion.” Conference on the EEC and the Outsiders, Waterloo, Canada, March 1972.

“Activity Analysis and Regional Development Planning.” Southeastern Regional Science Association, Atlanta, Georgia, April 1967.

E-mail: mauerl@stjohns.edu