Mbodja Mougoue

Mbodja Mougoue

Phone

313-577-4538

Email

ad4906@wayne.edu

Office

Mike Ilitch School of Business
2771 Woodward Avenue
Room 305
Detroit, MI 48201

Mbodja Mougoue

Academic Programs

  • Finance

Expertise

 Investment policies, futures and options, corporate financial strategies, stocks and bonds, international finance, economic data

Research and teaching interests

  • Investments
  • Derivatives
  • Portfolio Management
  • Asset Allocation
  • Market Efficiency
  • Futures and Options 
  • Corporate Financial Strategies

Education

  • Ph.D., University of New Orleans
  • MA, University of New Orleans  
  • BSc, Université de Yaoundé

 

Biography

Professor Mougoué was on the advisory board of Everest Energy LLC. He has done significant consulting work for the Citrin Group and several African governments and NGOs. He frequently lectures at overseas universities in France, Canada, Germany, Kenya, Ivory Coast, Cameroon, etc. He also serves on the editorial review boards of several academic journals.

Memberships

  • Financial Management Association
  • American Finance Association
  • Midwest Finance Association
  • Southern Finance Association
  • Eastern Finance Association
  • Western Finance Association
  • European Finance Association
  • Multinational Finance Society
  • Southwestern Finance Association

 

Publications

  • “Effects of Diamond Price Volatility on Stock Returns: Evidence from a Developing Economy” (with JM Bosson Brou, Eugene Kouassi, Kebaabetswe Thulaganyo, and Benjamin Acquah), (2020, forthcoming), International Journal of Finance & Economics
  • "The Democracy Income-growth Nexus in the Southern African Development Community Revisited” (with Eugene Kouassi, Sandotin Coulibaly, and Oluyele Akinkugbe), (2020, forthcoming), International Journal of Finance & Economics. 
  •  "Return and Volatility Spillovers to African Equity Markets and their Determinants" (with Eric M. Etoundi Atenga), (2020, forthcoming), Empirical Economics.
  • “Pseudo Maximum Likelihood Estimation and Asymptotic Results of the GARCH (1, 2) Model under Dependent Innovations” (with Patrice S. Takam, Eugene Kouassi, Renaud Fadonougbo and Jean M. Bosson Brou), 2019, Communications in Statistics – Simulation and Computation, https://doi.org/10.1080/03610918.2018.1513140
  • “Testing for Heteroskedasticity and Spatial Correlation in a Two Way Random Effects Model” (with Eugene Kouassi, Joel Sango, Jean M. Bosson Brou, Maurice O. Amba and Afees A. Salisu), 2014, Computational Statistics & Data Analysis, 70, 153-171.
  • “Estimating and Predicting the General Random Effects Model” (with Eugene Kouassi, Alain C. Kamdem and Jean M. Bosson Brou), 2014, Journal of Forecasting, 33, 270-283.
  •  "Conditional Score Tests for Heteroscedasticity in the Two-Way Error Components Model" (with Eugene Kouassi, Joel Sango and Jean M. Bosson Brou), 2014, Communications in Statistics-Theory and Methods, 43, 3812-3835.
  • "A Joint Score Test for Heteroscedasticity in the Two-Way Error Components", (with Eugne Kouassi, Joel Sango and Jean M. Bosson Brou), 2014, Communications in Statistics-Theory and Methods, 43, 2734-2751.
  • "Trading Volume and Exchange Rate Volatility: Evidence for the Sequential Arrival of Information Hypothesis" (with Raj Aggarwal), 2011, Journal of Banking and Finance, 35, 2690-2703.
  • "Is there a Symmetric Nonlinear Causal Relationship between Large and Small Firms?" (with Bill A. Francis and Valentyn Panchenko), 2010, Journal of Empirical Finance,17, pp. 23-38.
  • "How Firms' Foreign Tax Credit Limitation Spell Affects the Amount of Foreign Assets Deployed," (with B. Anthony Billings and Buagu Musazi), 2009, Public Finance Review, 37, pp. 170-197.
  • "An Empirical Re-Examination of the Dividend-Investment Relation,", 2008, Quantitative Finance,8, pp. 533-546.
  • "The Impact of Maturity and Nonlinearity on the International Transmission of Short-Term Interest Rates," (with Armand Gilbert Noula and Richard Ajayi), 2008, Review of Applied Economics, 4, pp. 93-112.
  • "Testing for Infrequent Permanent Shocks: Is the U.S. Inflation Rate Stationary?" (with Roger A. Fujihara), 2007, Applied Financial Economics, 17pp. 951-960.
  • "Trading Opportunities in the Natural Gas-Propane Futures Spread,", 2007, Review of Futures Markets, 15, pp. 313-334.
  • "Trading Opportunities in the NYMEX Frac Spread," (with Steven Slack), 2006, Energy Risk, pp. 42-47.
  • "Causality Tests of the Relationship between the Twin Deficits," (with Eugene Kouassi and Kern O. Kymn), 2004, Empirical Economics,29, 503-525.
  • "The Information Signaling Hypothesis of Dividends: Evidence from Co integration and Causality Tests," (with Ramesh P. Rao), 2003, Journal of Business Finance & Accounting, 30, pp. 441-478.
  • "The Effects of Export Tax Incentives on Export Volume: The DISC/FSC Evidence," (with B. Anthony Billings and Gary A. McGill), 2003, Advances in Taxation, 15, pp. 1-18.
  • "An Empirical Examination of the Relation between Futures Spreads Volatility, Volume and Open Interest," (with Paul B. Girma), 2002, Journal of Futures Markets, 22, pp. 1083-1102.
  • "Common Stochastic Trends among Asian Currencies: Evidence for Japan, Aseans, and the Asian Tigers," (with Raj Aggarwal), 1998, Review of Quantitative Finance and Accounting, 10, pp. 187-200.
  • "The Causality Effects of the Federal Reserve's Monetary Policy on U.S. and Eurodollar Interest Rates," (with John Wagster), 1997, Financial Review, 32, pp. 821-844.
  • "An Examination of Linear and Nonlinear Causal Relationships between Price Variability and Volume in Petroleum Futures Markets," (with Roger A. Fujihara), 1997, Journal of Futures Markets, 17, pp. 386-416.
  • "Linear Dependence, Nonlinear Dependence and Petroleum Futures Market Efficiency," (with Roger A. Fujihara), 1997, Journal of Futures Markets, 17, pp. 75-99.
  • "On the Dynamic Relationship between Stock Prices and Exchange Rates," (with Richard A. Ajayi), 1996, The Journal of Financial Research, 19, pp. 193-207.
  • "Seasonality in European Foreign Exchange Rates: An Empirical Investigation across Various Regimes," (with Anne Marie Whyte), 1996, International Journal of Finance, 8, pp. 239-254.
  • "Stock Returns and Volatility: An Empirical Investigation of the German and French Equity Markets," (wit Anne Marie Whyte), 1996, Global Finance Journal, 7, pp. 253-263.
  • "The Pricing of Foreign Exchange Risk: Evidence from ADRs," (with Youguo Liang), 1996, International Review of Economics and Finance,5, pp. 377-385.
  • "Cointegration among Asian Currencies: Evidence of the Increasing Influence of the Japanese Yen," (with Raj Aggarwal), 1996, Japan and the World Economy: International Journal of Theory and Policy, 8, pp. 291-308.
  • "Heteroscedasticity in Stock Market Indicator Return Data: Volume versus GARCH Effects," (with Jandhyala L. Sharma and Ravindra Kamath), 1996, Applied Financial Economics, 6, pp. 337-342.
  • "International Linkages Between Short-Term Real Interest Rates," (with Roger A. Fujihara), 1996, The Quarterly Review of Economics and Finance, 36, pp. 451-473.
  • "An Investigation Into the Causality Among the Firm's Dividend, Investment and Financing Decisions," (with Tarun K. Mukherjee), 1994, The Journal of Financial Research,4, pp. 517-530.
  • "Temporal Aggregation and Unit Roots in Nominal Foreign Exchange Rates," (with Roger A. Fujihara), 1994, Review of Quantitative Finance and Accounting, 4, pp. 291-303.
  • "The Expectations Hypothesis of the Term Structure in Eurocurrency Markets," (with Andrew C. Szakmary), 1994, Journal of Business Finance and Accounting, 21, pp. 255-269
  • "Cointegration Among Southeast Asian and Japanese Currencies - Preliminary Evidence of a Yen Bloc?" (with Raj Aggarwal), 1993, Economics Letters, 41, pp. 161-166.
  • "The Term Structure of Interest Rates as a Cointegrated System: Empirical Evidence from the Eurocurrency Market," 1992, The Journal of Financial Research, 15, pp. 285-296.
  • "Common Stochastic Trends in Exchange Rate Systems: Empirical Evidence from Four Emerging Markets," 1992, The Journal of International Financial Markets, Institutions & Money, 2, pp. 27-50.
  • "The Impact of Financial Factors on Proxy Contest Outcomes," (with G. D. Hancock), 1991, Journal of Business Finance and Accounting, 18, pp. 541-551.
  • "Dividend Policy and the Partial Adjustment Model," (with Michael T. Bond), 1991, Journal of Economics and Business,43, pp. 165-178. 

 

Presentations

  • "Can Trading Volume Help Explain Exchange Rate Volatility? Competing Hypotheses and Evidence from Currency Futures Markets," Financial Management Association, Grapevine, Texas, 2008.
  • "Trading Opportunities in the Natural Gas-Propane Futures Spread," Financial Management Association, Orlando, Florida, 2007.
  • "Long Run Dependence in the Conditional Variance of Futures returns," (with E. Kouassi and W. Labys), Financial Management Association, Salt Lake City, Utah, 2006.
  • "Trading Volume and Return in the Foreign Exchange Market: Evidence from Currency Futures Markets," (with Bill B. Francis and Mbodja Mougoue), European Financial Management Association, Paris, June 1999.
  • "An Empirical Investigation of Linear and Nonlinear Dynamics in the Price-Volume Relation of European Stock Markets," (with Richard A. Ajayi and Mbodja Mougoue), Multinational Finance Society, Thessaloniki, Greece, June 1997.
  • "The Causality Effects of the Federal Reserve's Monetary Policy on U.S. and Eurodollar Interest Rates," European Finance Association, (with Mbodja Mougoue and John Wagster), Oslo, Norway, August 1996.
  • "The Causality Impact of the Federal Reserve's Operating Procedures on U.S. and Eurodollar Interest Rates: A Cointegration Analysis," (with Mbodja Mougoue and John Wagster), European Financial Management Association, Maastricht, the Netherlands, July 1994.
  • "Is there a Symmetric Nonlinear Causal Relationship between Large and Small Firms?" (With Bill A. Francis, Delroy Hunter, and Mbodja Mougoue), Financial Management Association, Denver, Colorado, October 2003.
  • "A Robust Re-Examination of the Relation between Dividend and Investment Decisions," (with Mbodja Mougoue), Financial Management Association, San Antonio, Texas, October 2002.
  • "An Empirical Examination of the Relation between Futures Spreads Volatility, Volume and Open Interest," (with Paul B. Girma and Mbodja Mougoue), Financial Management Association, Toronto, Canada, October 2001.
  • "A Reexamination of the Relationship between Large and Small Firms: A Dynamic Investigation," (with Bill A. Francis and Mbodja Mougoue), Financial Management Association, Orlando, Florida, October 1999.
  • "The Information Signaling Hypothesis of Dividends Revisited," (with Bill A. Francis, Mbodja Mougoue, and Ramesh P. Rao), Financial Management Association, Orlando, Florida, October 1999.
  • "Volume and Return in the Japanese Stock Market: A Dynamic Analysis," (with Bill A. Francis and Mbodja Mougoue), Financial Management Association, Orlando, Florida, October 1999.
  • "A Dynamic Analysis of the Volume-Return Relation in the Japanese Stock Market," (with Bill A. Francis and Mbodja Mougoue), Financial Management Association, Chicago, Illinois, October 1998.
  • "An Empirical Investigation of the Relation between Dividends and Investment Decision," (with Bill A. Francis and Mbodja Mougoue), Financial Management Association, Chicago, Illinois, October 1998.
  • "Trading Volume and Return in the Foreign Exchange Market: Evidence from the Currency Futures Market," (with Bill A. Francis and Mbodja Mougoue), Financial Management Association, Chicago, Illinois, October 1998.
  • "The Information Signaling Hypothesis of Dividends: Evidence from Cointegration and Causality Tests," (with Mbodja Mougoue and Ramesh P. Rao), Financial Management Association, Honolulu, Hawaii, October 1997.
  • "Maturity, Linear Causality, Nonlinear Causality and the Eurodollar-U.S. Interest Rate Relationship," (with Richard Ajayi and Mbodja Mougoue), Financial Management Association, Honolulu, Hawaii, October 1997.
  • "The Empirical Relation Between Price Changes and Trading Volumes: Further Evidence from European Stock Markets," (Richard A. Ajayi and Mbodja Mougoue), Financial Management Association, Honolulu, Hawaii, October 1997.
  • "An Examination of Linear and Nonlinear Causal Relationships Between Price Variability and Volume in Petroleum Futures Markets," (with Roger A. Fujihara and Mbodja Mougoue), Financial Management Association, New Orleans, Louisiana, October 1996.
  • "Can Money Market Mutual Fund Managers Predict Interest-Rate Movements?" (with Mbodja Mougoue and John Wagster), Financial Management Association, New Orleans, Louisiana, October 1996.
  • "Testing for Linear and Nonlinear Granger Causality in the International Transmission of Eurodollar and U.S. Interest Rates," (with Richard A. Ajayi and Mbodja Mougoue), Financial Management Association, New Orleans, Louisiana, October 1996.
  • "Foreign Debts, Exchange Rates, and Cointegration: The International Evidence," (with Richard A. Ajayi, Jongmoo Choi, and Mbodja Mougoue), Allied Social Science Associations, San Francisco, California, January 1996.
  • "Testing for Linear and Nonlinear Dependence in Petroleum Futures," (with Roger A. Fujihara and Mbodja Mougoue), Financial Management Association, New York, New York, October 1995.
  • "The Causality Impact of the Federal Reserve's Operating Procedures on U.S. and Eurodollar Interest Rates," (with Mbodja Mougoue and John Wagster), Financial Management Association, New York, New York, October 1995.
  • "On the Dynamic Relationship Between Stock Prices and Exchange Rates," (with Richard A. Ajayi), Financial Management Association, St. Louis, Missouri, October 1994.
  • "An Investigation into the Causality Among the Firm's Dividend, Investment and Financing Decisions," (with Tarun K. Mukherjee), Financial Management Association, San Francisco, California, October 1992.
  • "The Pricing of Foreign Exchange Risk: Evidence from ADRs," (with Youguo Liang), Financial Management Association, San Francisco, California, October 1992.
  • "Stochastic Processes in Illiquid Currencies: An Empirical Study of Cointegration in Asia," (with Raj Aggarwal), Academy of International Business, Miami, Florida, October 1991.
  • "Duration and Commercial Bank Bond Portfolio Strategies," (with Jack H. Rubens), Financial Management Association, Orlando, Florida, October 1990.
  • "An Investigation into the Causality Among the Firm's Dividend, Investment and Financing Decisions and Its Systematic Risk," (with Tarun K. Mukherjee), Financial Management Association, Boston, Massachusetts, October 1989.
  • "The Expectations Hypothesis of the Term Structure During the Modern Exchange Rate Era," (with Andrew C. Szakmary), Financial Management Association, Boston, Massachusetts, October 1989.
  • "A Reexamination of the Relationship between Large and Small Firms: A Dynamic Investigation," (with Bill A. Francis and Mbodja Mougoue), Southern Finance Association, Key West, Florida, November 1999.
  • "A Dynamic Analysis of the Volume-Return Relation in the Japanese Stock Market," (with Bill A. Francis and Mbodja Mougoue), Southern Finance Association, Marco Island, Florida, November 1998.
  • "An Empirical Investigation of the Relation between Dividends and Investment Decision," (with Bill Francis and Mbodja Mougoue), Southern Finance Association, Marco Island, Florida, November 1998.
  • "Trading Volume and Return in the Foreign Exchange Market: Evidence from the Currency Futures Market," (with Bill A. Francis and Mbodja Mougoue), Southern Finance Association, Marco Island, Florida, November 1998.
  • "The International Transmission of Eurodollar and U.S. Interest Rates Revisited," (with Mbodja Mougoue), Eastern Finance Association, Panama City Beach, Florida, April 1997.
  • "Testing for Linear and Nonlinear Granger Causality in the Petroleum Futures Price-Volume Relation," (with Roger A. Fujihara and Mbodja Mougoue),Easter Finance Association, Charlotte, North Carolina, April 1996.
  • "The Causality Impact of the Federal Reserve Operating Procedures on U.S. and Eurodollar Interest Rates," (Mbodja Mougoue and John Wagster), Southern Finance Association, Charleston, South Carolina, November 1994.
  • "Seasonality in European Foreign Exchange Rates: An Empirical Investigation across Various Regimes," (with Anne Marie Whyte and Mbodja Mougoue), Eastern Finance Association, Richmond, Virginia, April 1993.
  • "Futures and Weekly Patterns in Stock Returns: A Note on Evidence of Efficiency," (with Mbodja Mougoue, Arjun Chatrath and Mukesh Chaudhry), Midwest Finance Association, Indianapolis, Indiana, April 1993.
  • "Unit Roots and Co-Integration Tests: Evidence from the Eurocurrency Market," (with Mbodja Mougoue), Midwest Finance Association, Chicago, Illinois, March 1990. 

Awards

  • Wayne State University School of Business Administration's Distinguished Teacher Award, 2009.
  • Fulbright Scholar, Institute of International Education, Cote d'Ivoire, 2000-2001.