Professor of Finance
Finance
Co-Chair
Promotion and Tenure Committee
Member
University Planning and Budget Committee
Member
Board of Regents Teaching Award Committee
Member
Board of Regents Research Award Committee
Member
Advisory Committee for CSU Professorship
Contact
(860) 832-3187
josephfarhat@ccsu.edu
Office
R.C. Vance Academic Center
463-01
Biography

Professor Farhat completed a Ph.D. in Financial Economics from the , MSc in Economics from the , and a BS in Commerce from the . He joined 91精品 Connecticut State University as an Assistant Professor of Finance in 2006. Before joining 91精品, his previous work experience included roles as an Assistant Professor of Finance at Investment Consultant for the , Assistant Professor at the , Adjunct Professor of Financial Economics at the University of Jordan; and Academic Computing Statistical Consultant for the University of New Orleans. Professor Farhat  served as a Trustee on the Board of Trustees of the

Professor Farhat successfully led 91精品鈥檚 School of Business as a Dean during the most challenging times for the School and the University (2019-2022). During his deanship (2019-2022), he secured the school鈥檚 reaccreditation by the Association to Advance Collegiate Schools of Business (AACSB) and led several curriculum revisions, developed innovative programs, established a state-of-the-art Business Analytics and Research Lab, Banking & Finance and a Forensic Analytics technology rooms, and implemented policy changes that are focused on improving student success and increasing access to degree pathways, as well as 91精品 Accelerated programs.

Professor Farhat is an external reviewer of research and scholarship for the promotion and tenure committees at national and international universities, an external program evaluator for Business / Finance programs, and a NECHE peer review team member. Professor Farhat is a Quality Matters Certified Peer Reviewer and Quality Matters Online Teaching Certified. 

During his service at 91精品, he chaired many committees, including the university planning and budget committee, the university online learning committee, the Board of Regents鈥 research awards committee, the Board of Regents鈥 teaching awards committee, and the university promotion and tenure committee. He also was a member of other committees, including the university curriculum committee, the NEASC self-study committee, the distinguished service award committee, the advisory committee for CSU professorship, the faculty senate steering committee, the integrated planning council, department evaluation committee, the information technology committee, the grant foundations advisory committee, and more. Professor Farhat鈥檚 research interests are corporate finance, data analytics, and quantitative finance. His research papers have been published in many renowned academic journals. Since 2006, he has successfully published 23 peer-reviewed articles, two book chapters, and one book. He has also delivered more than 40 peer-reviewed presentations at national and international academic conferences. Professor Farhat is the Founder and Editor of the (BFR), an annual, peer-reviewed international research journal that provides a publication outlet for theoretical and empirical issues in the fields of banking and finance.

Education
Financial Economics
University of New Orleans
2003
Economics
University of Jordan
1997
Economics
Zagazig University
1991
Microsoft Power BI Data Analyst
Microsoft
2024
Areas of Expertise

Financial Management, Higher Education Accreditation, Financial Modeling and Analytics, Budget and Planning, Promotion and Tenure Reviews, Online Learning, Foreign Income Taxes & Compliance.

Services
2024-           Member, The CCSU Advisory Committee for the CSU Professorship 
2023-           Member, Board of Regents Teaching Awards Committee
2023-           CCSU Foundation Board of Directors
2022-           Committee Member, The University Planning and Budget Committee
2022-           NECHE External reviewer 
2022-2023   Board of Trustees Member, American University of Madaba
2022-2023    Member, Faculty Senate 
2019-2022    Board Member, Junior Achievement of Southwest New England
2019-2021    Committee Member, Doctor of Education (Ed.D.) Dissertation Committee
2019             Advisor, Honors Thesis
2019             Chair, The University Planning and Budget Committee
2018-2019    Member, Electronic Student Opinion Survey (CoursEval) Task Force 
2018-2019    Committee Member, Instructional Coordinator IDTRC- Search Committee 
2018-2019    Chair, Faculty Search Committee.
2018-2019    Council Member, UPBC Representative (AAUP) - Integrated Planning Council
2018-2019    Vice Chair, The University Planning and Budget Committee
2018-2019    Committee Member, Faculty Senate Steering Committee
2018-2019    Representative - Department of Finance, TAP Pathway Work Group
2018-2019    Committee Member, Board of Regents LMS Exploratory/Evaluation Committee
2018-2019    Committee Member, The University Planning and Budget Committee
2018-2019    Committee Member, Advisory Committee for CSU Professorship
2018-2019    Committee Member, Distinguished Service Award Committee
2018             Committee Member, Controller Search Committee
2018-2019    Member, Screening Committee - President鈥檚 Citation
2018-2019    External program evaluator for Business / Finance programs
2017-2019    Senator, Faculty Senate -School    of Business Department    Chairs鈥 Representative
2017-2019    Board of Advisors Member, The Center for Teaching and Faculty Development
2017-2019    Chair, Online Learning Committee
2017-2019    Committee Member, Online Learning Committee - Curriculum Committee's Representative
2017-2018    Member, Integrated Budget Model Initiative- Provost's Representative
2017-2018    Chair, Board of Regents Research Awards Committee
2017-2019    Chair, Board of Regents Teaching Awards Committee
2017-            External reviewer of promotion and tenure at national and international Universities
2017             Committee Member, Provost Search Committee
2016-2017    Co-Chair, Promotion and Tenure Committee
2016-2019    Member, The Council of Academic Chairpersons
2016-2019    Committee Member, ODE Affirmative Action Employee Advisory Committee (AAEAC)
2016-2018    Committee Member, NEASC self-study Committee.
2016-2018    Committee Member, University Curriculum Committee
2016-2018    Committee Member, Curriculum Committee - Business Subcommittee
2016-2017    Committee Member, Online Learning Committee
2016-2017    Chair, Board of Regents Research Awards Committee
2015-2017    Committee Member, Promotion and Tenure Committee
2015-2016    Committee Member, Faculty Search Committee.
2015-2017    Committee Member, The FYE Redesign Task    Force Steering Committee
2015-2017    Chair, Financial Literacy Subcommittee of the FYE Redesign Task Force
2014-2018    Chair, Department Evaluation Committee
2014-2019    Committee Member, Board of Regents Research Award Committee
2014-2019    Committee Member, Board of Regents Teaching Awards Committee
2014             Search Committee Member, Dean of School of Business - Search Committee
2014              Committee Member, Board of Regents Teaching Awards Committee (System-wide)
2014-2015    Committee Member, Advisory Committee for CSU Professorship
2014-2017    Chair, Board of Regents Teaching Awards Committee
2012-2017    Member, Faculty Hearing Board
2012-2013    Committee Member, Faculty Search Committee.
2012-2015    Committee Member, The Grant Foundations Advisory Committee.
2012-2014    Board of Advisors Member, The Center for Teaching and Faculty Development.
2012-2013    Committee Member, University Curriculum Committee
2012-2013    Committee Member, Curriculum Committee - Business Subcommittee
2011-2013    Committee Member, Faculty Senate - Steering Committee.
2011-2013    Committee Member, Information Technology Committee.
2011-2013    Committee Member, Information Technology Advisory Committee.
2012             Committee Member, The 2012 ConnSCU Teaching, Learning, and Assessment Conference.
2011-2012    Committee Member, The Advisory Committee for CSU Professorship.
2011             Search Committee Member, The Chief Financial Officer Search Committee.
2011             Committee Member, The Learning Management System (LMS) RFP Sub-Committee.
2011             Vice Chair, Information Technology Committee.
2011             Conference Committee Member, The 2011 CSUS Faculty Research Conference.
2011-2012    Committee Member, Faculty Search Committee.
2011-2012    Committee Member, Department Evaluation Committee.
2010-2013    Senator, Faculty Senate.
2010-2019    Coordinator - The School of Business - Stock Trading Competition.
2010-2019    Administrator - The School of Business - STOCK TRAK Trading system.
2010             Committee Member, The Advisory Committee on Academic Advising.
2010             Committee Member, The 91精品 Faculty Senate Ad Hoc Textbook Committee.
2010             Conference Committee Member, The 2010 CSUS Faculty Research Conference.
2009-2010    Committee Member, Faculty Search Committee.
2008-2013    Committee Member, CSU- AAUP Investment Advisory Committee.
2008-2009    Conference Committee Member, The 2009 CSUS Faculty Research Conference.
2008-2010    Committee Member, University Curriculum Committee.
2008-2010    Committee Member, Curriculum Committee    - Business Subcommittee.
2008-2010    Committee Secretary, Curriculum    Committee - Business Subcommittee Secretary.
2008-2009    Committee Member, Faculty Search Committee.
2007-2008    Committee Member, Faculty Search Committee.


 

Publications, Research & Presentations

Peer-Reviewed Journal Publications

  1. Cotei, C., Farhat, J.  "Thinking about starting a franchise business? Think again"  The Journal of Entrepreneurial Finance, forthcoming
  2. Casey, C., Bates, T., Farhat, J.,  Linkages between regional characteristics and small businesses viability. Small Business Economics, 2023 
  3. Farhat, J., Bates, T., Casey, C.  The Economic Development Potential of Minority-Owned Small Businesses. Economic Development Quarterly, 2022
  4. Cotei, C., Farhat, J., Khurana, I. The Impact of Policy Uncertainty on the M&A Exit of Startup Firms. Journal of Economics and Finance, 2021
  5. Farhat, J., Khurana, I. The Role of resources in Timing of Diversification and Survival of Startup firms. Industry and Innovation, 2021
  6. Cotei, C., Farhat, J.  "The M&A Exit Outcome of High-Tech Startups"  Multinational Finance Journal, 2020
  7. Farhat, J., Mijid N., "Do Women Lag Behind Men? A Matched-Sample Analysis of the Dynamics of Gender Gaps" Journal of Economics and Finance, October 2018.
  8. Cotei, C., Farhat, J. 鈥淭he Mergers and Acquisitions Exit Outcomes of New, Young Businesses鈥 Small Business Economics, Volume 50, Issue 3, March 2018.
  9. Farhat, J., Robb, A. 鈥淎nalyzing Complex Survey Data: The Kauffman Firm Survey.鈥 Small Business Economics, Volume 50, Issue 3, March 2018.
  10. Farhat, J., Matusik, S., Robb, A., Robinson, D. T. 鈥淣ew Directions in Entrepreneurship Research. 鈥 Small Business Economics, Volume 50, Issue 3, March 2018.
  11. Cotei C., Farhat J., "The Leasing Decisions of Startup Firms.鈥 Review of Pacific Basin Financial Markets and Policies, Volume 20, Issue 04, December 2017.
  12. Casey, C., Farhat J., Cartwright G., Community Reinvestment Act, and Local Governance Contexts:  Advancing the   Future of   Community Reinvestment? Cityscape: A Journal of Policy Development and Research, 2017
  13. Cotei C., Farhat J., 鈥淭he Evolution of Financing Structure in U.S. Startups," The Journal of Entrepreneurial Finance, 2017.
  14. Coleman S., Cotei C., Farhat J., 鈥淭he Debt-Equity Financing Decisions of U.S. Startup Firms,鈥 Journal of Economics and Finance, 2016.
  15. Coleman S., Cotei C., Farhat J., " Resource-Based View of New Firm Survival: New Perspectives on the Role of Industry and Exit Route," Journal of Developmental Entrepreneurship, 2013.
  16. Cotei C., Farhat J., 鈥淚nformational Externalities of Initial Public Offerings: Does Venture Capital Backing Matter?鈥, Journal of Economics and Finance, 2013.
  17. Cotei C., Farhat J., 鈥淒oes the Legal System Affect the Information Content of Earnings Surprises? Evidence from the International Equity Markets,鈥 Financial Decisions, 2013.
  18. Cotei C., Farhat J., Miranda M., 鈥淭he Information Asymmetry and Earnings Surprises: Evidence from the US Insurance Industry,鈥 Journal of Insurance Issues, 2012.
  19. Cotei C., Farhat J., 鈥淎n Application of the Two-Stage Bivariate Probit-Tobit Sample Selection Model to Corporate Financing Decisions,鈥 Review of Quantitative Finance and Accounting, Volume 37, Issue 3, pp 363-380, October 2011
  20. Cotei C., Farhat J., Abugri B., 鈥淭esting Trade-off and Pecking Order Theories: Does the Legal System Matter?鈥, Managerial Finance, Vol. 37 Iss: 8, pp.715 - 735, August 2011
  21. Cotei C., Farhat J., Abugri B., 鈥淢arket Efficiency in Emerging Markets: Does the Legal System Matter?鈥, Global Journal of Finance and Economics, Volume 6, Number 2, September 2009: 145-160.
  22. Cotei C., Farhat J., 鈥淭he Trade-Off Theory and the Pecking Order Theory: Are They Mutually Exclusive?鈥, North American Journal of Finance and Banking Research, 3 (3) pp 1-16, August 2009.
  23. Cotei C., Farhat J., 鈥淭esting capital structure theories: Are the models' assumptions correctly specified?鈥, European Journal of Economics, Finance and Administrative Sciences (11) pp. 22-30, September 2008.
  24. D'Mello R., Farhat J., 鈥淎 Comparative Analysis of Proxies for an Optimal Leverage Ratio,鈥 Review of Financial Economics, 17 (3) pp. 213-227, August 2008.
  25. Daal E., Farhat J., Wei P., 鈥淒oes futures exhibit maturity effect? New evidence from an extensive set of US and foreign futures contracts鈥, Review of Financial Economics, 15 (2) pp. 113-128., June 2006.
  26. Mukherjee T., Cotei C., Farhat J., 鈥淔actors Explaining the Results of Job Search By the 2002 FMA Job Applicants- A Survey鈥, Journal of Financial Education, 32 pp. 1- 22, Spring 2006.
  27. Farhat J., Hassan M., Zu'bi B., 鈥淒ividend Signaling Hypothesis and Short-term Asset Concentration in Interest-Free Banking鈥, Islamic Economic Studies, 11 (1) pp. 1-25, September 2003.

Book / Book Chapter

  1. Farhat, J., Robb, A. Chapter: Event history analysis using the Kauffman Firm Survey. Research Handbook of Entrepreneurial Exit. Edward Elgar Publishing, Inc. 2015
  2. Applied Survey Data Analysis using Stata: The Kauffman Firm Survey Data. The Ewing Marion Kauffman Foundation 2014.
  3. Capital Structure and Corporate Financing Decisions, John Wiley & Sons, Inc. 2011, Chapter 6: Worldwide Patterns in Capital Structure.

Peer-Reviewed Presentations

  1. Cotei C., Farhat J., 鈥淗ow do investors react to ESG-oriented M&As?鈥 The Academy of Economics and Finance Annual Meeting (February 2023)
  2. Cotei C., Farhat J., 鈥淭he Impact of Governance Environment on SMEs Financing Strategies in the Developing World鈥 The National Business and Economics Society Annual Meeting  (March 2022)
  3. Cotei C., Farhat J., 鈥'The financing strategies of SMEs in the developing world: Evidence from the Enterprise Surveys鈥 The Academy of Economics and Finance Annual Meeting (February 2020)
  4. Cotei C., Farhat J., 鈥淭hinking About Starting a Franchise Business? Think Again鈥 The 2019 Academy of Behavioral Finance & Economics Annual Meeting. (September 2019).
  5. Farhat, J., 6th Winter Conference of the Multinational Finance Society, 鈥淧rofessional Development Workshop: The Kauffman Firm Survey Database " (January 2019).
  6. Cotei, C., Farhat, J., 6th Winter Conference of the Multinational Finance Society, 鈥淎nalysis of Survival and M&A Exit Outcomes Among Franchise and Independent Startups " (January 2019).
  7. Farhat, J., Academy of Management Annual Meeting PDW, "Applied Survey Data Analysis: The Kauffman Firm Survey," Kauffman Foundation. (August 2018)
  8. Cotei, C., Farhat, J., 25th Annual Multinational Finance Society Conference, 鈥淭he M&A Exit Outcome of New, High-tech Ventures" (June 2018).
  9. Farhat, J., Academy of Management Annual Meeting PDW, "Applied Survey Data Analysis: The Kauffman Firm Survey," Kauffman Foundation. (August 2017).
  10. Cotei, C., Farhat, J., Eastern Finance Association Annual Meeting, 鈥淭he Evolution of the Financing Structure of Entrepreneurial Firms." (April 2017).
  11. Cotei, C., Farhat, J., Midwest Finance Annual Meeting, 鈥淭he Dynamics of Capital Structure in Newly Formed Business." (March 2017).
  12. Farhat, J., Robb, A., Academy of Management Annual Meeting, "Applied Survey Data Analysis: The Kauffman Firm Survey," Kauffman Foundation. (August 2016).
  13. Cotei, C., Farhat, J., Kauffman Firm Survey Conference II, "Becoming M&A Targets: Evidence from Small, Privately Held Firms," University of Colorado. (June 2016).
  14. Farhat, J., Mijid, N., Kauffman Firm Survey Conference II, "Do Women Lag Behind Men? A Matched-Sample Analysis of the Dynamics of Gender Gaps," University of Colorado. (June 2016).
  15. Cotei, C., Farhat, J., Eastern Finance Association Annual Meeting, "The M&A decisions of startup businesses: Evidence from the U.S. market." (April 2016).
  16. Cotei, C., Farhat, J., Kauffman Firm Survey Conference I, "Becoming M&A Targets: Evidence from Small, Privately Held Firms," Duke University- Duke Innovation & Entrepreneurship Initiative. (December 2015).
  17. Farhat, J., Mijid, N., Kauffman Firm Survey Conference I, "Do Women Lag Behind Men? A Matched-Sample Analysis of the Dynamics of Gender Gaps," Duke University- Duke Innovation & Entrepreneurship Initiative. (December 2015).
  18. Cotei, C., Farhat, J., Eastern Finance Association Annual Meeting, "The Leasing Decisions of U.S. Start-up Firms." (April 2015).
  19. Farhat, J., Cotei, C., The 2015 Midwest Finance Association Annual Meeting, "Factors Explaining the Leasing Decisions of Newly Established Firms," Midwest Finance Association. (March 2015).
  20. Coleman S., Cotei C., Farhat J., 鈥淒eterminants of Startup Financing Decisions鈥, The 2014 Midwest Finance Association Annual Meeting. (March 2014)
  21. Coleman S., Cotei C., Farhat J. 鈥淭he Debt-Equity Choice of U.S. Privately Held Firms鈥, The 2013 Eastern Finance Association Meeting.
  22. Coleman S., Cotei C., Farhat J., 鈥淎 Resource-Based View of New Firm Survival: New Perspectives on the Role of Industry and Exit Route鈥, The 2012 Academy of Entrepreneurial Finance Annual Meeting.
  23. Cotei C., Farhat J., Miranda M., 鈥淭he Information Asymmetry and Earnings Surprises: Evidence from the US Insurance Industry鈥, The 2012 Midwest Finance Association Annual Meeting.
  24. Coleman S., Cotei C., Farhat J., 鈥淔actors Affecting Survival, Closure and M&A Exit for Small Businesses鈥, The 2012 Midwest Finance Association Annual Meeting.
  25. Coleman S., Cotei C., Farhat J., 鈥淒eterminants of New Firm Survival and Exit through M&A: Evidence from the 2004-2008 Kauffman Firm鈥, The 2011 Financial Management Association Meeting.
  26. Coleman S., Cotei C., Farhat J., 鈥淪mall Firm Survival and Exit Through M&A: A Duration Analysis鈥, The 2011 Academy of Management Annual Meeting.
  27. Cotei C., Farhat J., 鈥淭heories of Capital Structure: Internal versus External Financing Choice鈥, The 2010 Eastern Finance Association Meeting.
  28. Cotei C., Farhat J., 鈥淔actors Affecting the Corporate Financing Decisions鈥, The 2010 Midwest Finance Association Annual Meeting.
  29. Cotei C., Farhat J., Abugri B., 鈥淢arket Efficiency in the Emerging Markets: Does the Legal System Matter? 鈥, The 2009 Eastern Finance Association Annual Meeting.
  30. Cotei C., Farhat J., Abugri B., 鈥淭he Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments鈥, The 2008 Financial Management Association Meeting.
  31. Cotei C., Farhat J., Abugri B., 鈥淢arket Efficiency in the Emerging Markets: Evidence form Thirty-five Countries鈥, The 2007 Southern Finance Association Annual Meeting.
  32. D'Mello R., Farhat J., 鈥淎 Comparative Analysis of Proxies for Target Capital Structure鈥, The 2007 Eastern Finance Association Annual Meeting.
  33. Cotei C., Farhat J., Abugri B., 鈥淭he Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments鈥, The 2007 Southwestern Finance Association Annual Meeting.
  34. Cotei C., Farhat J., Abugri B., 鈥淭he Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments鈥, The 2007 Eastern Finance Association Annual Meeting.
  35. Cotei C., Farhat J., Abugri B., 鈥淭he Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments鈥, The 2007 Financial Management Association Annual Meeting.
  36. Cotei C., Farhat J., Abugri B., 鈥淭he Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments 鈥, The 2006 Financial Management Association Annual Meeting.
  37. D'Mello R., Farhat J., 鈥淎 Comparative Analysis of Proxies for Target Capital Structure鈥, The 2006 Southwestern Finance Association Annual Meeting.
  38. Mukherjee T., Farhat J., Cotei C., 鈥淔actors Explaining the Results of Job Search By the 2002 FMA Job Applicants- A Survey鈥, The 2005 Allied Business Education Association Annual Conference.
  39. Mukherjee T., Cotei C., Farhat J., 鈥淚nformational Externalities of Going Public Decisions鈥, The 2005 Eastern Finance Association Annual Meeting.
  40. Mukherjee T., Farhat J., Cotei C., 鈥淔actors Explaining the Results of Job Search By the 2002 FMA Job Applicants- A Survey鈥, The 2004 Financial Management Association Annual Meeting.
  41. Cotei C., Farhat J., Mukherjee T., 鈥淚nformational Externalities of Going Public Decisions鈥, The 2004 Financial Management Association Annual Meeting.
  42. D'Mello R., Farhat J., 鈥淎 Comparative Analysis of Proxies for Target Capital Structure 鈥, The 2003 Financial Management Association Annual Meeting.
  43. Hassan M., Farhat J., Al-Zu'bi B., 鈥淒ividend Signaling Hypothesis and Short-term Asset Concentration in Interest-Free Banking鈥, The 2002 Economic Research Forum Annual Conference.
  44. Farhat J., 鈥淓ssays on the Dynamics of Capital Structure鈥, The 2002 Financial Management Association Annual Meeting-FMA Doctoral Consortium.
Awards & Grants

2018     Small Business Economics Best Paper Award, $10K Prize sponsored by Kauffman Foundation &
Duke University.
2017     The 2015-2016 Excellence in Teaching Honor Roll.
2016     The 2014-2015 Excellence in Teaching Honor Roll.
2015     The 2013-2014 Excellence in Teaching Award
2013     The 2013-2014 Excellence in Teaching Award, (Semifinalist).
2013     The 2013-2014 Excellence in Teaching Honor Roll.
2012     The 2012-2013 Excellence in Teaching Honor Roll.
2011     The 2011 Connecticut State University System Trustees Teaching Award.
2011     The KFS Promising Paper Award.
2010     The 2010-2011 Excellence in Teaching Award, (Finalist).
2010     The 2010-2011 Excellence in Teaching Honor Roll.
2009     The 2009-2010 Excellence in Teaching Award, (Finalist).
2009     The 2009-2010 Excellence in Teaching Honor Roll.
2008     The 2008-2009 Excellence in Teaching Honor Roll.
2006     The 2006 Southwestern Finance Association Annual Meeting, "Best Paper in Corporate Finance".
2002     The Toussaint Hocevar Outstanding Ph.D. Student Award, University of New Orleans, LA.