Collins Emeka Okafor

Associate Professor of Finance

Collins Emeka Okafor
College of Business & Economics

Accounting and Finance

Merrick Hall 205
OtherCertified Financial Modeling & Valuation Analyst (FMVA) / Corporate Finance Institute
Ph.D.International Business Administration (Major Conc: Finance) / Texas A&M International University
MPAAccounting / Texas A&M International University
M.S.Information Systems / Texas A&M International University
MBAInternational Banking and Finance / Texas A&M International University
BBAAccounting Information System / Stetson University


Dr. Collins E. Okafor is an Associate professor of finance at the Willie A. Deese College of Business. He is the faculty advisor directing the Student Managed Investment Fund (SMIF). Dr. Okafor obtained his Ph.D. (Finance Concentration) from Texas A&M Intl University. He also holds an MBA-International Banking & Finance, Master of Accounting (MPacc), M.Sc -Information Systems, MSc -Bus. Analytics. He is also a Certified Financial Modelling & Valuation Analyst (FMVA).

Research Interests

Dr. Okafor's research interest encompasses the following areas of Empirical Corporate Finance: Bankruptcy Risk, ESG, Real Options, Board co-option, Executive Compensation, Earnings Management, Corporate Governance, stakeholder capitalism, and CSR. His research interest also includes financial analysis & security valuation. Dr. Okafor’s research has appeared in the Journal of Experimental & Behavioral Finance, International Managerial Finance, Managerial Finance, Applied Economics, Frontiers of Psychology, Sustainability Journal, and other journals.

Recent Publications

  • Md Bhuyan, Collins Okafor, Eunho Cho (2022). (Do friendly boards impact the value of real options?). pp. 100623. Journal of Behavioral and Experimental Finance.
  • Donseung Choi, Kevin L James, Collins Okafor, Eunho Cho, Md Nazmul Bhuyan (2022). (The Effects of Executives’ Education and Compensation on Firm Value: Evidence from China). pp. 1-19. Applied Economics.
  • Eunho Cho, Collins Okafor, Nacasius Ujah, Linmei Zhang (2021). (Executives’ gender-diversity, education, and firm’s bankruptcy risk: Evidence from China). pp. 100500. Journal of Behavioral and Experimental Finance.
  • Collins Okafor, Nacasius Ujah (2020). (Executive compensation and corporate social responsibility: does a golden parachute matter?). (5) 16, pp. 575-598. International Journal of Managerial Finance.
  • Nacasius Ujah, Augustine Tarkom, Collins Okafor (2020). (Working capital management and managerial talent). (ahead-of-print) ahead-of-print, International Journal of Managerial Finance.
  • Nacasius Ujah, Collins Okafor (2019). (Managed earnings, prior cost of capital, and firm location). (1) 16, pp. 61-82. International Journal of Managerial Finance.
  • Nacasius Ujah, Collins Okafor (2019). (The effect of a golden parachute on managed earnings). (7) 45, pp. 925-949. Managerial Finance.
  • Nacasius Ujah, jorge brusa, Collins Okafor (2017). (The Influence of Earnings Management and Bank Structure on Bank Performance: International Evidence). (7) 43, Managerial Finance.
  • Collins Okafor, L. Smith, Nacasius Ujah (2014). (Kleptocracy, nepotism, kakistocracy: impact of corruption in Sub-Saharan African countries). (2) 5, pp. 97. International Journal of Economics and Accounting.
  • L Murphy Smith, Aditya Limaye, Yundong William Huang, Collins Okafor (2011). (Accounting, IFRS, and Capital Markets in India, Singapore, and South Africa). (4) 26, pp. 32. Internal Auditing-Boston.
  • Collins Okafor, N Ujah, A Elkassabgi, W Ajalie (2011). (Democracy and FDI inflow: Evidence of discordance in sub-Saharan Africa). 63, pp. 140–149. International Research Journal of Finance and Economics.
  • Collins Okafor, Aziz Bakay, Nacasius Ujah (2011). (Factors Explaining ICT Diffusion: Case Study of Selected Latin American Countries). (2) 3, International Journal on Advances in ICT for Emerging Regions (ICTer).
  • Nacasius Ujah, Collins Okafor (2011). (UNLEASHING THE CRACKEN: DOES INTERNET FINANCIAL REPORTING MATTER IN AFRICA). (1) 5, pp. 87–97. International Journal Of The Academic Business World.
  • Yuka Nishikawa, Mohammad Hashemi Joo, Collins Okafor (Board co-option and employee welfare). Managerial Finance.
  • Manuchehr Shahrokhi, Ali Parhizgari, Mohammad Joo, Collins Okafor, Yuka Nishikawa, Alireza Dastan (Corporate governance and stakeholder capitalism). (ahead-of-print) ahead-of-print, Managerial Finance.
  • Jangsoon Kim, Donseung Choi, Eunho Cho, Collins Okafor, Byung Park (Corporate Sustainability in the Wake of the COVID-19 Global Pandemic: Does CSR Enhance Corporate Survival during a Market Crisis?). (21) 14, pp. 14438. Sustainability.
  • Collins Okafor, Nacasius Ujah, Eunho Cho, Winifred Okafor, Kevin James (The Moderating Effect of a Golden Parachute on the Association between CSR and Firm Value: Does Gender-Driven Innovation Matter?). (6) 15, pp. 5483. Sustainability.