Penn State Smeal College of Business
Business Building
475 Shortlidge Rd
University Park, PA 16802

Emeritus Professor of Finance
The Louis and Virginia Benzak Professor of Finance
Dennis Sheehan joined the Smeal College of Business faculty in 1992 as the Louis and Virginia Benzak Professor of Finance. He previously taught at Purdue University, the University of Chicago, and the University of Rochester. Professor Sheehan is a graduate of Georgetown University and received his Ph.D. in Economics from the University of California at Berkeley. Professor Sheehan's research and teaching interests were in finance and statistics. His research was in corporate finance with papers on topics such as the extent and function of managerial stock ownership, the role of active shareholders in monitoring the firm, and the pricing of seasoned equity offerings by investment banks. His research was published in journals such as the Journal of Finance, the Journal of Financial Economics, and the Journal of Econometrics, and was also been written up in the Wall Street Journal and the Journal of Applied Corporate Finance. Dr. Sheehan helped establish the Executive MBA Program in the Smeal College. He served as Associate Dean of MBA Programs and Executive Education and as Faculty Director for the MBA Programs. He retired in 2017.
Security Issuance and Underwriting. Corporate Governance and Control. Financial Distress. Economics of Organization.
Ph D in Economics, University of California, Berkeley, Berkeley, CA, 1981-01-01 AB in Economics, Georgetown University, Washington, D.C., 1973-01-01
B A 517 – Communication Skills for Management
Development of communication skills required for management; audience awareness, style, individual and group presentations.
B A 528 – Business Simulation
A team-based course during which students will manage a simulated firm.
B A 531 – Introduction to Finance
An examination of the techniques available to aid the financial manager in decision making.
B A 536 – BA 536 Global Immersion
Global Immersion experience for MBA students. Led Immersion to Prague.
B A 536 – Global Immersion
Exploration of the opportunities and the challenges of doing business in another economic region.
B A 595 – Internship
Supervised off-campus, nongroup instruction, including field experiences, practicums, or internships. Written and oral critique of activity required.
B A 596 – Individual Studies
Creative projects, including nonthesis research, which are supervised on an individual basis and which fall outside the scope of formal courses.
B A 597A – Global Immersion (A)
Experiential global business course.
B A 597A – International Finance (A)
Study of international competition in health care. Effects of exchange rate changes on product demand; analysis of gains or loses from hedging programs in foreign currencies.
B A 597A – Leadership and Decision Making (A)
In this course, we first look at the characteristics of the problems and opportunities faced by leaders. We then explore these decision making events from the perspective of the human cognition and behaviors used to deal with these decision characteristic
B A 597A – Techniques for Firm Valuation (A)
This independent study project will explore techniques for estimating the value of firms, with particular emphasis in firms in the start-up stage. Techniques such as discounted cash flow, multiples, and option valuation will be analyzed and used to predic
B A 597B – Advanced Communications (B)
The Global Immersion course provides the students with an opportunity to develop a global perspective by visiting a country outside the United States.
B A 597C – Global Immersion Independent Study (C)
Evaluation of the economic situation of Argentina. Analyze whether the economic model of President Kirchner will likely bring further economic progress to Argentina or stifle it. Of particular concern will be the recent increase in inflation and the gover
B A 597E – Sustainable Business Strategies (E)
Formal courses given on a topical or special interest subject which may be offered infrequently.
B A 597F – Marketing to Support Growth of Financial Services (F)
An experiential learning opportunity for students to explore an alternative business, intellectual, governmental, and cultural paradigm.
B A 597G – Negotiation (G)
Formal courses given on a topical or special interest subject which may be offered infrequently.
B A 597I – Independent Study (I)
This course is an independent study course that is used for students returning to the program that need to make up credits due to program changes since they left the program.
B A 597I – Individual and Team-Based Leadership (I)
The main feature of this course is an off-site immersion into situations that require rapid decision-making and team based activities in a stressful or uncertain environment. For the Spring 2015 semester, two options for the immersion experience are being
B A 598A – Business Simulation (A)
Run a large firm of your own in competition with your classmates.
FIN 305M – Financial Management of the Business Enterprise (M)
Development of advanced practices of financial management and their application to decision making in a business firm.
FIN 405 – Advanced Financial Management
An examination of the development and application of decision rules for major long-term financial and investment problems of the firm.
FIN 531 – Financial Management
An intensive examination of techniques available to aid the financial manager in decision making.
FIN 553 – Financial Modeling
Develops technical financial modeling skills applying spreadsheets and simulation modeling software.
FIN 563 – Financial Management Simulation and Corporate Interaction
An immersion experience in financial decision-making through a simulation exercise and interaction with senior financial officers.
FIN 565 – Investment Management Portfolio Analysis Immersion
An intensive familiarization with the Smeal College Trading Room in combina- tion with a visit to Wall Street trading rooms.
FIN 597A – Asset Pricing Theory (A)
Formal courses given on a topical or special interest subject which may be offered infrequently; several different topics may be taught in one year or term.
FIN 597F – Empirical Market Microstructure (F)
Designed to do a practical, comprehensive course in corporate finance and strategy. Draws together the various topics in managerial finance and presents a unified, integrated view of the overall subject areas. Requires students to deal with case applicati
FIN 601 – PH.D. DISSERTATION FULL-TIME
NO DESCRIPTION.
MKTG 597C – Marketing 2.0 (C)
Provide students with chance to synthesize what they are learning in the marketing portfolio with practicing & managing the marketing function of a simulated enterprise.
R M 399 – Foreign Studies
Courses offered in foreign countries by individual or group instruction.
Barclay M., Holderness C., Sheehan D. P. "Dividends and corporate shareholders" Review of Financial Studies, vol. 22, 2009-10-01
Sheehan D. P., Holderness C., Barclay M. "“Private Placements and Managerial Entrenchment”" Journal of Corporate Finance, vol. 13, 2007-01-01
Field L. B., Sheehan D. P. "IPO Underpricing and Outside Blockholdings" Journal of Corporate Finance, vol. 10, 2004-03-01