About

Bartley Danielsen is an Associate Professor of Finance at NC State University's Poole College of Management, within the Department of Finance. He teaches both graduate and undergraduate courses in corporate finance, investments, and real estate. He is a coauthor of the internationally best-selling textbook, Foundations of Financial Management, now in its 17th edition. His research focuses on the impact of charter schools, voucher programs, and education savings accounts (ESAs) on property values and family residential choice. Dr. Danielsen is the originator of the economic development program known as 'Economic Development Zone ESAs,' which aims to increase cultural and economic diversity in high-poverty neighborhoods while improving job opportunities for residents. He is also the founder and President of Environmentalists for Effective Education, a public charity dedicated to promoting research and awareness of educational choices in revitalizing urban areas, reducing urban sprawl, and creating sustainable cities. He holds a Ph.D. in Financial Economics from the University of Florida, obtained in 1999.

Research topics

• Computer Science
• Business
• Finance

Selected publications

• Foundations of Financial Management, 17/E

  2020 · 1 citations

  Senior authorCorresponding
  • Computer Science
  • Business
  • Finance
  Publisher

• Foundations of financial management, 17th ed.

  McGraw-Hill Education eBooks · 2018-01-01

  bookSenior author
  Publisher

• CPR Scholarships: Using Private School Choice to Attack Concentrated Poverty, Crime, and Unemployment.

  2017-03-01

  article1st authorCorresponding
  Publisher

• Renewing Our Cities: A Case Study on School Choice's Role in Urban Renewal.

  2017-03-01

  article1st authorCorresponding
  Publisher

• Arts-Based Charter Schools as Urban Redevelopment Catalysts: Santa Ana, California’s Orange County School of the Arts

  25th Annual European Real Estate Society Conference · 2016-01-01

  article1st authorCorresponding

  This study examines the impact the Orange County School of the Arts (OCSA) exerts on the relocation decisions of families that have children attending the school. The school draws students from a relatively wide geographic area, and hundreds of families (669) have moved closer to Santa Ana after enrolling a child in the school. A substantial fraction (97) of these families moved from a non-Santa Ana address into the city. Closer examination of these relocation decisions reveals families who live near the school are substantially less likely to relocate than families who live farther away. Additionally, while students matriculate into the school in grades 7 through 12, the observed relocation attraction is particularly strong for families enrolling a child at the beginning of the 9th grade. The reasons for the high level of attraction for 9th graders are not entirely clear. As such, this final result calls for further research as it may have significant implications for how school-choice programs in general, and arts-based programs in particular, should be structured if one of the policy goals is to catalyze redevelopment of the urban environment.

  PublisherDOI

• School Choice Programs: The Impacts on Housing Values

  Journal of Real Estate Literature · 2015-01-01 · 1 citations

  articleOpen access1st authorCorresponding

  We review both the theoretical and empirical literature relating to the impact of school choice programs, particularly voucher programs, on residential property values. Beginning with the seminal works of Charles Tiebout (1956) and Thomas Nechyba (1999, 2000, 2003), we describe the sorting equilibrium theories that arise in the context of public school assignments based strictly on geographic catchment areas. We then consider the implications of allowing students to attend schools other than those to which they are assigned, particularly in a school voucher context. Finally, we review the empirical tests of these theories to date. The important concepts addressed in this paper are: (1) assigned schools lead to a separating equilibrium that results in segregation on the basis of income, school quality, and property values; and (2) school choice programs undermine this separating equilibrium by severing the link between place of residence and school assignment.

  PublisherOA PDFDOI

• School Vouchers and Home Prices: Premiums in School Districts Lacking Public Schools

  Journal of Housing Research · 2015-01-01 · 11 citations

  article

  Vermont has numerous school districts lacking traditional public schools. In these jurisdictions, families are provided school vouchers. Using a sample of 2,933 single-family home purchase transactions, we examine residential property values in areas with vouchers as compared to those with assigned schools. We find robust evidence that these vouchers increase home values. We also find that home values are increasing in the number of alternative schooling options available within reasonable commuting distances. Finally, homes with access to schools that are better than the closest school, as defined by standardized test scores, sell at a higher price where vouchers exist. Thus, we conclude Vermont’s housing market places a premium on school voucher access availability, and this premium increases if families have access to more and better schools.

  PublisherDOI

• It Makes a Village: Residential Relocation after Charter School Admission

  Real Estate Economics · 2014-11-27 · 10 citations

  article1st authorCorresponding

  Although numerous studies investigate how student achievement is impacted by educational vouchers and charter schools, there appears to be no research on how these programs impact the surrounding environment. This study examines residential relocation of families whose children attend a charter school. We develop a conceptual model that predicts where relocating families are likely to move, given ex ante distance and direction to the school. The model is parameterized using data from student mailing address changes. We find that families are almost twice as likely to relocate toward the school as would be expected if the school did not exert any attraction. Moreover, although families are not required to live near the school, the child's school exerts a significantly stronger attraction than parent workplaces. This result may have important implications for mitigating urban sprawl, fostering urban renewal and promoting sustainable real estate development.

  PublisherDOI

• Liquidity, Accounting Transparency, and the Cost of Capital: Evidence from Real Estate Investment Trusts

  Journal of Real Estate Research · 2014-01-01 · 39 citations

  article1st authorCorresponding

  We investigate the influence financial transparency, organizational complexity, and the cost of capital exert over financial market liquidity. Given regulatory distribution requirements, real estate investment trusts (REITs) are forced to frequently raise capital in the public markets. As a result, they have strong incentives to transparently communicate their financial condition to the marketplace. Within this context, we find strong evidence that firms choosing to “over-invest” in financial transparency are rewarded with enhanced liquidity, as measured by lower bid-ask spreads. These effects are more pronounced for riskier firms and those with greater growth options (i.e., those with the most to gain from transparency).

  PublisherDOI

• It Makes a Village: Residential Relocation after Charter School Admission

  SSRN Electronic Journal · 2010-01-01

  articleOpen access1st authorCorresponding
  PublisherDOI

Frequent coauthors

• Rodney D Boehme

  Wichita State University

  21 shared

• Sorin M. Sorescu

  Texas A&M University

  20 shared

• Sean Cleary

  9 shared

• A Aivazian

  University of Washington

  9 shared

• Laurence Booth

  9 shared

• Richard S. Warr

  North Carolina State University

  8 shared

• David Harrison

  8 shared

• Robert A. Van Ness

  7 shared

Education

• Ph.D., Business Administration

  University of North Carolina at Chapel Hill

  1990

• Other, Business Administration

  University of North Carolina at Chapel Hill

  1985

• B.S., Business Administration

  University of North Carolina at Chapel Hill

  1982