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
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 University of New Orleans, MSc in Economics from the University of Jordan, and a BS in Commerce from the Zagazig University. He joined Central Connecticut State University (CCSU) as an Assistant Professor of Finance in 2006. Prior to joining CCSU, his previous work experience included roles as an Assistant Professor of Finance at Southern Connecticut State University; Investment Consultant for the Social Security Investment Commission in Jordan, Assistant Professor at the Hashemite University, Adjunct Professor of Financial Economics at the University of Jordan; and Academic Computing Statistical Consultant for the University of New Orleans. Professor Farhat is currently serving as a Trustee on the Board of Trustees of the American University of Madaba

Professor Farhat successfully led CCSU’s 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’s reaccreditation by the Association to Advance Collegiate Schools of Business (AACSB) and led several curriculum revisions, developed innovative programs, established a state of 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 Central 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 CCSU, he chaired many committees, including the university planning and budget committee, the university online learning committee, the board of regents’ research awards committee, the board of regents’ 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’s 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 Banking and Finance Review (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
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
2023-           Member, Board of Regents Research Awards Committee
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-           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’s Citation
2018-2019    External program evaluator for Business / Finance programs
2017-2019    Senator, Faculty Senate -School    of Business Department    Chairs’ 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 CCSU 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. Casey, C., Bates, T., Farhat, J.,  Linkages between regional characteristics and small businesses viability. Small Business Economics, 2023 
  2. Farhat, J., Bates, T., Casey, C.  The Economic Development Potential of Minority-Owned Small Businesses. Economic Development Quarterly, 2022
  3. 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
  4. Farhat, J., Khurana, I. The Role of resources in Timing of Diversification and Survival of Startup firms. Industry and Innovation, 2021
  5. Cotei, C., Farhat, J.  "The M&A Exit Outcome of High-Tech Startups"  Multinational Finance Journal, 2020
  6. 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.
  7. Cotei, C., Farhat, J. “The Mergers and Acquisitions Exit Outcomes of New, Young Businesses” Small Business Economics, Volume 50, Issue 3, March 2018.
  8. Farhat, J., Robb, A. “Analyzing Complex Survey Data: The Kauffman Firm Survey.” Small Business Economics, Volume 50, Issue 3, March 2018.
  9. Farhat, J., Matusik, S., Robb, A., Robinson, D. T. “New Directions in Entrepreneurship Research. “ Small Business Economics, Volume 50, Issue 3, March 2018.
  10. Cotei C., Farhat J., "The Leasing Decisions of Startup Firms.” Review of Pacific Basin Financial Markets and Policies, Volume 20, Issue 04, December 2017.
  11. 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
  12. Cotei C., Farhat J., “The Evolution of Financing Structure in U.S. Startups," The Journal of Entrepreneurial Finance, 2017.
  13. Coleman S., Cotei C., Farhat J., “The Debt-Equity Financing Decisions of U.S. Startup Firms,” Journal of Economics and Finance, 2016.
  14. 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.
  15. Cotei C., Farhat J., “Informational Externalities of Initial Public Offerings: Does Venture Capital Backing Matter?”, Journal of Economics and Finance, 2013.
  16. Cotei C., Farhat J., “Does the Legal System Affect the Information Content of Earnings Surprises? Evidence from the International Equity Markets,” Financial Decisions, 2013.
  17. Cotei C., Farhat J., Miranda M., “The Information Asymmetry and Earnings Surprises: Evidence from the US Insurance Industry,” Journal of Insurance Issues, 2012.
  18. Cotei C., Farhat J., “An Application of the Two-Stage Bivariate Probit-Tobit Sample Selection Model to Corporate Financing Decisions,” Review of Quantitative Finance and Accounting, Volume 37, Issue 3, pp 363-380, October 2011
  19. Cotei C., Farhat J., Abugri B., “Testing Trade-off and Pecking Order Theories: Does the Legal System Matter?”, Managerial Finance, Vol. 37 Iss: 8, pp.715 - 735, August 2011
  20. Cotei C., Farhat J., Abugri B., “Market Efficiency in Emerging Markets: Does the Legal System Matter?”, Global Journal of Finance and Economics, Volume 6, Number 2, September 2009: 145-160.
  21. Cotei C., Farhat J., “The Trade-Off Theory and the Pecking Order Theory: Are They Mutually Exclusive?”, North American Journal of Finance and Banking Research, 3 (3) pp 1-16, August 2009.
  22. Cotei C., Farhat J., “Testing capital structure theories: Are the models' assumptions correctly specified?”, European Journal of Economics, Finance and Administrative Sciences (11) pp. 22-30, September 2008.
  23. D'Mello R., Farhat J., “A Comparative Analysis of Proxies for an Optimal Leverage Ratio,” Review of Financial Economics, 17 (3) pp. 213-227, August 2008.
  24. Daal E., Farhat J., Wei P., “Does futures exhibit maturity effect? New evidence from an extensive set of US and foreign futures contracts”, Review of Financial Economics, 15 (2) pp. 113-128., June 2006.
  25. Mukherjee T., Cotei C., Farhat J., “Factors Explaining the Results of Job Search By the 2002 FMA Job Applicants- A Survey”, Journal of Financial Education, 32 pp. 1- 22, Spring 2006.
  26. Farhat J., Hassan M., Zu'bi B., “Dividend Signaling Hypothesis and Short-term Asset Concentration in Interest-Free Banking”, 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., “How do investors react to ESG-oriented M&As?” The Academy of Economics and Finance Annual Meeting (February 2023)
  2. Cotei C., Farhat J., “The Impact of Governance Environment on SMEs Financing Strategies in the Developing World” The National Business and Economics Society Annual Meeting  (March 2022)
  3. Cotei C., Farhat J., “'The financing strategies of SMEs in the developing world: Evidence from the Enterprise Surveys” The Academy of Economics and Finance Annual Meeting (February 2020)
  4. Cotei C., Farhat J., “Thinking About Starting a Franchise Business? Think Again” The 2019 Academy of Behavioral Finance & Economics Annual Meeting. (September 2019).
  5. Farhat, J., 6th Winter Conference of the Multinational Finance Society, “Professional Development Workshop: The Kauffman Firm Survey Database " (January 2019).
  6. Cotei, C., Farhat, J., 6th Winter Conference of the Multinational Finance Society, “Analysis 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, “The 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, “The Evolution of the Financing Structure of Entrepreneurial Firms." (April 2017).
  11. Cotei, C., Farhat, J., Midwest Finance Annual Meeting, “The 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., “Determinants of Startup Financing Decisions”, The 2014 Midwest Finance Association Annual Meeting. (March 2014)
  21. Coleman S., Cotei C., Farhat J. “The Debt-Equity Choice of U.S. Privately Held Firms”, The 2013 Eastern Finance Association Meeting.
  22. Coleman S., Cotei C., Farhat J., “A Resource-Based View of New Firm Survival: New Perspectives on the Role of Industry and Exit Route”, The 2012 Academy of Entrepreneurial Finance Annual Meeting.
  23. Cotei C., Farhat J., Miranda M., “The Information Asymmetry and Earnings Surprises: Evidence from the US Insurance Industry”, The 2012 Midwest Finance Association Annual Meeting.
  24. Coleman S., Cotei C., Farhat J., “Factors Affecting Survival, Closure and M&A Exit for Small Businesses”, The 2012 Midwest Finance Association Annual Meeting.
  25. Coleman S., Cotei C., Farhat J., “Determinants of New Firm Survival and Exit through M&A: Evidence from the 2004-2008 Kauffman Firm”, The 2011 Financial Management Association Meeting.
  26. Coleman S., Cotei C., Farhat J., “Small Firm Survival and Exit Through M&A: A Duration Analysis”, The 2011 Academy of Management Annual Meeting.
  27. Cotei C., Farhat J., “Theories of Capital Structure: Internal versus External Financing Choice”, The 2010 Eastern Finance Association Meeting.
  28. Cotei C., Farhat J., “Factors Affecting the Corporate Financing Decisions”, The 2010 Midwest Finance Association Annual Meeting.
  29. Cotei C., Farhat J., Abugri B., “Market Efficiency in the Emerging Markets: Does the Legal System Matter? ”, The 2009 Eastern Finance Association Annual Meeting.
  30. Cotei C., Farhat J., Abugri B., “The Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments”, The 2008 Financial Management Association Meeting.
  31. Cotei C., Farhat J., Abugri B., “Market Efficiency in the Emerging Markets: Evidence form Thirty-five Countries”, The 2007 Southern Finance Association Annual Meeting.
  32. D'Mello R., Farhat J., “A Comparative Analysis of Proxies for Target Capital Structure”, The 2007 Eastern Finance Association Annual Meeting.
  33. Cotei C., Farhat J., Abugri B., “The Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments”, The 2007 Southwestern Finance Association Annual Meeting.
  34. Cotei C., Farhat J., Abugri B., “The Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments”, The 2007 Eastern Finance Association Annual Meeting.
  35. Cotei C., Farhat J., Abugri B., “The Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments”, The 2007 Financial Management Association Annual Meeting.
  36. Cotei C., Farhat J., Abugri B., “The Pecking Order Hypothesis vs. the Static Trade- off Theory under Different Institutional Environments “, The 2006 Financial Management Association Annual Meeting.
  37. D'Mello R., Farhat J., “A Comparative Analysis of Proxies for Target Capital Structure”, The 2006 Southwestern Finance Association Annual Meeting.
  38. Mukherjee T., Farhat J., Cotei C., “Factors Explaining the Results of Job Search By the 2002 FMA Job Applicants- A Survey”, The 2005 Allied Business Education Association Annual Conference.
  39. Mukherjee T., Cotei C., Farhat J., “Informational Externalities of Going Public Decisions”, The 2005 Eastern Finance Association Annual Meeting.
  40. Mukherjee T., Farhat J., Cotei C., “Factors Explaining the Results of Job Search By the 2002 FMA Job Applicants- A Survey”, The 2004 Financial Management Association Annual Meeting.
  41. Cotei C., Farhat J., Mukherjee T., “Informational Externalities of Going Public Decisions”, The 2004 Financial Management Association Annual Meeting.
  42. D'Mello R., Farhat J., “A Comparative Analysis of Proxies for Target Capital Structure “, The 2003 Financial Management Association Annual Meeting.
  43. Hassan M., Farhat J., Al-Zu'bi B., “Dividend Signaling Hypothesis and Short-term Asset Concentration in Interest-Free Banking”, The 2002 Economic Research Forum Annual Conference.
  44. Farhat J., “Essays on the Dynamics of Capital Structure”, 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.