Smidt, Seymour

Professor Emeritus/a

research

research and scholarship focus

  • Finance
  • Managerial Economics
  • Market Microstructure
  • Stock Market
  • Commodity Futures Markets
  • Electric-Rate Regulation

affiliations

emeritus faculty in

background

educational background

  • A.B., (Liberal Arts), University of Chicago, 1948
  • M.A., (Economics), University of Chicago, 1952
  • Ph.D., (Economics), University of Chicago, 1954

professional background

  • July -1, 2005 Professor Emeritus, S.C. Johnson Graduate School of Management, Cornell University
  • 1978 – June 30, 2005 Nicholas H. Noyes Professor of Economics and Finance Johnson Graduate School of Management, Cornell University
  • July 1, 1993 - Dean, College of Business Administration and Economics,
  • June 30, 1995 Koç University, Istanbul, Turkey.(0n leave from Cornell University)
  • Fall 1989 Visiting Professor, Wharton School, University of Pennsylvania
  • Fall 1984: Visiting Professor - Tel Aviv University
  • 1965 - 1978: Professor of Managerial Economics - Cornell University
  • 1959 - 1965: Associate Professor - Cornell University
  • 1956 - 1959: Assistant Professor - Cornell University
  • 1969 - 1970: Associate Director, Institutional Investor Study, SEC
  • 1964 - 1966: Campus Coordinator, Cornell-Middle East Technical University Project - Cornell University
  • 1962 - 1964: Chief of Cornell University Party in Turkey and Visiting Staff Member, Department of Management, Middle East Technical University: Ankara, Turkey
  • 1960 - 1962: Research Director, Agricultural Industries Research Program, Cornell University
  • Summer 1958: Research Associate, Department of Agricultural Economics, North Carolina State College

publications

selected publications (listing in progress)

  • Books:
    • The Capital Budgeting Decision (with Harold Bierman, Jr.). The Macmillan Company, First Edition, 1960. Eighth Edition, 1993., 9th Edition 2007 published by Routledge. ISBN 0-415-40003-1. (French, Turkish, Japanese, Portuguese, Spanish, Greek, Italian, Russian and Vietnamese translations have appeared.)
    • Amateur Speculators: A Survey of Trading Styles, Informaiton Sources and Patterns of Entry and Exit from Comodity Futures Markets by Non-Professional Speculators. Cornell Studies in Policy and Administration, Graduate School of Business and Public Administration, Cornell University, 1965.
    • Financial Management for Decision Making (with Harold Bierman, Jr.). The Macmillan Company, 1986.
    • Local Government Financial Planning (with Timothy Critchfield, Clark Hamlin and Duane Wilcox). Local Government Program, New York State School of Industrial and Labor Relations, Cornell University, 1975.
    • Management Decision Making Under Uncertainty (with T.R. Dyckman and A.K. McAdams). The Macmillan Company, 1965.
  • Articles:
    • "Capital Budgeting and the Problem of Reinvesting Cash Proceeds," Journal of Business (October, 1957), pp. 276-279, with Harold Bierman, Jr.
    • "Evaluating Measures of Investment Worth," The Federal Accountant (June, 1958), pp. 38-54.
    • "The Management of Seasonal Pork Inventories," The National Provisioner (December 2, 1961), with John W. Allen.
    • "Optimum Plans Design for Seasonal Production," Management Science (July, 1964), pp. 778-785, with J.R. Coleman and R. York.
    • "Agriculture and the Secular Position of the U.S. Economy," Econometrica (October, 1964), pp. 554-575, with George S. Tolley.
    • "A Test of the Serial Independence of Price Changes in Soybean Futures," Food Research Institute Studies (Vol. V, No. 2, 1965), pp. 117-136. (Reprinted in Anne E. Peck, Editor, Selected Writings in Futures Markets, Vol. II, Chicago Board of Trade, 1977).
    • "Accounting for Debt and Costs of Liquidity Under Uncertainty," Journal of Accounting Research (Autumn, 1967), pp. 144-153 wit Harold Bierman, Jr.
    • "Evaluating the Risk of Investment Projects," Appalachian Financial Review (Spring, 1968), pp. 155-165.
    • "Flexible Pricing of Computer Services," Management Science (June, 1968), p. 581-600.
    • "The Use of Hard and Soft Money Budgets and Prices to Limit Demand for a Centralized Computer Facility," Proceedings, 1968 Fall Joint Computer Conference, American Federation of Information Processing Societies, December, 1968.
    • "Valuing the Firm's Durable Assets for Managerial Information," The Accounting Review (April, 1969), pp. 317-329, with Y. Goldschmidt.
    • "A New Look at the Random Walk Hypothesis," Journal of Financial and Quantitative Analysis (September, 1968). (Reprinted in Fredrikson, Frontiers of Investment Analysis, 1971).