The Department of Finance in the Broad College of Business prepares students to look beyond quantitative reasoning in order to discover innovative solutions to the most prominent issues confronting today’s (and tomorrow’s) businesses. Our flexible programs and curriculum specializations in corporate finance and financial markets allow students to focus on their specific areas of interest within finance.
Welcome to the Department of Finance in the Eli Broad College of Business. We invite you to learn about the world-class resources available to our undergraduate and graduate students as they prepare for careers in fields such as corporate finance and investment, investment banking and commercial banking, asset management, risk management, financial advising, venture capital and private equity, and academic research.
In addition to our outstanding research and teaching faculty who are leaders in their fields, the department is also home to the Financial Markets Institute, the Center for Venture Capital, Private Equity and Entrepreneurial Finance, and finance student organizations like the Finance Association and Spartan Global Development Fund. These organizations provide enhanced academic and experiential learning, as well as exceptional leadership opportunities, to interested students.
We invite you to learn more about how the Department of Finance is helping to make the Broad College a global leader in undergraduate and graduate business education.
The Department of Finance offers bachelor’s, master’s and doctoral degree programs, all designed to account for curriculum specialization to a student’s particular interests in finance. Our programs also prepare students for roles in the related fields of marketing, production, supply chain and human resources. This tailored approach empowers students to achieve their unique career goals in finance and across all areas of business.
Research areas cover all major areas of finance including corporate and behavioral finance, contracting and asset pricing.Explore Program
Emerge with a breadth of financial knowledge, from fundamental analysis to asset management, and hone skills in corporate strategies and leadership.Explore Program
The discipline of finance comprises corporate financial management, management of financial institutions, and investments. An understanding of financial concepts, financial instruments and financial management decision-making are vital to each. Employment opportunities exist in industrial and brokerage firms, public utilities, banks, insurance companies, credit unions and agencies of government.Explore Program
Ideal for students pursuing careers as underwriters, claim adjusters, agents or brokers in the insurance industry, or careers in risk management within financial institutions.Explore Minor
The Financial Planning and Wealth Management program is designed to provide students with a solid understanding of the concepts and techniques used by wealth management advisors to help individual and institutional clients. As the industry continues to evolve, students will gain the necessary skills to help firms meet the expanding needs of their client base.Explore Program
The Financial Markets Institute (FMI) provides comprehensive training to a select group of highly motivated finance and accounting students at Broad. Scholars are offered invaluable professional opportunities, such as co-managing a multi-million dollar investment fund and visiting financial services firms across the United States. Based on student preparation, the institute provides employers with the confidence that FMI scholars have the technical and soft skills necessary to make immediate contributions to their firms.
“Are Most Democracies Temporal? Wealth Creation versus Wealth Appropriation,” with Zsuzsanna Fluck (2012).
“A Simple Proof of Functional Itôs Lemma for Semimartingales with an Application” (with Sumit Sinha and Shlomo Levental), Statistics and Probability Letters, 83 (2013), 2019-2026.
“Optimal Debt Contracts and Product Market Competition with Replacement” (with Naveen Khanna), Journal of Economic Theory, 145 (January 2010) 156-188.
J. Brown, Z. Ivković, P. Smith and S. Weisbenner, “Casual Community Efforts and Stock Market Participation,” Journal of Finance (2008).
“Multinational Finances” (2012)
Kirt C. Butler and Katushi Okada, “The Relative Contribution of Conditional Mean and Volatility in Bivariate Returns to International Stock Market Indices,” Applied Financial Economics (2009).
“Hand in Hand or Hand in Bind? A Theory of Later-Stage Syndication of Venture Capital Investments,” joint with Kedran Garrison and Stewart Myers.
“Which Risk Factors Matter to Investors? Evidence from Mutual Fund Flows,” with Brad Barber and Terrance Odean.
“Rushing into American Dream? House Prices, Timing and Homeownership, and Adjustment of Consumer Credit,” with Sumit Agarwal, Luojia Hu, Journal of Money, Credit and Banking.
“Macroeconomic Variables and Hotel Performance: Good and Bad News,” A. J. Singh, S. Kim, M. Johnson and R. Mandelbaum: Winner Second Best Paper Award ICHRIE Research Reports Competition 2016, ICHRIE Research Reports, June 2016. 1-14.
“Internet Gaming: Valuation Concerns for the Industry,” M. Johnson, A.J. Singh and Y. Zhou: Winner ICHRIE National Conference Best Paper Award Finance Track 2015, Journal of Hospitality Financial Management, 2015, 23(1): 25-44.
Members of the Finance Advisory Board contribute to the activities of the Department of Finance in many different ways, such as providing job opportunities (full-time positions and internships), getting involved with the team of students who manage the Student Investment Fund (SIF) and advising the department chair. There are also opportunities to mentor students and to interact with the Financial Markets Institute (FMI).
The Finance Advisory Board meets twice annually (typically October and February), and part of each meeting is devoted to discussing the Student Investment Fund’s performance with the student managers and the rationale behind their buys and sells. The Finance Advisory Board’s job is to ask challenging questions and provide advice and insights to advance the student managers’ knowledge.
The Center for Venture Capital, Private Equity and Entrepreneurial Finance (CVCPEEF) integrates financial thinking and strategic decision-making with innovation and entrepreneurship via research and education across the university, and in the venture capital (VC) and private equity (PE) community around the world.
The Financial Analysis Lab provides the opportunity for hands-on training in financial modeling and valuation. The lab’s hardware and software not only emulate a real trading room, but also enable a dynamic instructional setting. The lab is equipped with dual-screen computers and a number of Bloomberg terminals. The Department of Finance’s Security Analysis and Portfolio Management course is taught in the lab.Lab Hours and Contact
The Broad College of Business is a CFA University Affiliation Program Partner of the CFA Institute, a global membership organization that awards the Chartered Financial Analyst® (CFA®) designation.
The CFA Program sets a standard for developing the skills, standards, competence, and integrity of financial analysts, portfolio managers, investment advisors, and other investment professionals worldwide. It is widely considered the investment profession’s most rigorous credentialing program.See Program Benefits
Full-Time MBA students and undergraduates manage the Student Investment Fund (SIF) as members of the college’s Security Analysis class (FI 457/FI 857). Under the instruction of Stephen Schiestel and using the tools of the Financial Analysis Laboratory, the students master the essentials of portfolio management, stock selection and stock performance evaluation. They continuously monitor the fund and ensure that its stated security selection discipline is maintained.Learn about the SIF