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Joel Stern, founding partner of Stern Stewart & Co., a global consulting firm that helps companies measure and create shareholder wealth through modern financial theory, will teach a special graduate course at Old Dominion University beginning Monday, May 17.

"Theory and Policy of Modern Finance," will be held over five days from Monday to Wednesday, May 17-19, and Tuesday and Wednesday, June 15-16 and costs $500. Members of the business community may take the course for continuing education credit. Stern will cover structure and functioning of capital markets, valuation/risk, capital structure, recapitalization, restructuring and incentive signaling, and performance measurement in the class.

Author of "Against the Grain: How to Succeed in Business by Peddling Heresy," Stern has been the managing partner of Stern Stewart since he co-founded the company in 1982. He previously served as president of Chase Financial Policy, the financial advisory arm of Chase Manhattan Bank.

Stern has been a pioneer and leading advocate of the concept of managing for shareholder value. His company pioneered the development of the Economic Value Added (EVA) and Market Value Added (MVA) theories, which offer a consistent approach to setting goals and measuring performance, communicating with investors, evaluating strategies, allocating capital, valuing acquisitions and determining incentive bonuses that make managers think like owners.

Stern's columns have appeared in the Wall Street Journal, Sunday Times of London, the Financial Times, the New York Times and Fortune. For 17 years, he was a rotating panelist on PBS' "Wall Street Week" and has appeared on CNN's "Moneyline." He is the author or co-author nine books including "Analytical Methods in Financial Planning and Measuring Corporate Performance" and the "EVA Challenge."

A board member of four corporations, Stern has been an adjunct professor at eight graduate business schools including Columbia University, the University of Michigan Business School, the Carnegie Mellon Graduate School of Industrial Design, the Simon School at the University of Rochester and the London Business School. He received his bachelor's degree from Columbia University and master's degrees in economics and finance from the University of Chicago.

To register by mail, send a check payable to ODU to NonCredit Operations, Old Dominion University, Norfolk, VA 23529. To register by MasterCard or Visa, fax to 683-5443. To register on-line, visit www.cgbee.com/webnew/cgbee.html.

For more information contact Bruce Rubin, director of the master's of business administration program at 683-3585 or brubin@odu.edu.

This article was posted on: April 20, 2004

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