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Camelia M. Kuhnen
Camelia M. Kuhnen

FINANCE
Assistant Professor of Finance
Zell Center Faculty Fellow

Print Overview
Professor Kuhnen joined the faculty at the Kellogg School of Management in 2006, after completing her Ph.D. in Finance at the Stanford Graduate School of Business. Her research interests include empirical corporate finance, behavioral finance and neuroeconomics. Prof. Kuhnen is currently working on executive compensation and turnover, and on contracting issues in the mutual fund industry. She is also doing experimental work using brain imaging techniques to understand the neural basis of financial decision-making.

Areas of Expertise
Behavioral Economics (Includes: Behavioral Finance)
Behavioral Finance (Includes: Behavioral Economics)
Corporate
  • Recent Media Coverage

    Asian News International: Financial risk-taking lies in the genes - 10/5/2009

    Stocks (Switzerland): Neurofinanz-Forscherin Camelia Kuhnen: Trader erhalten beim Handeln einen Kick, ganz ähnlich wei Drogenabhängige - 8/28/2009

    Los Angeles Times: It's time for boards to limit CEOs' compensation - 5/23/2009

    The Mint (Dow Jones publication in India): Genetics, risk and behaviour - 4/6/2009

    See all Kellogg in the Media
Print Vita
Education
PhD, 2006, Finance, Stanford University
BS, 2001, Brain and Cognitive Studies; Management, Massachusetts Institute of Technology

Academic Positions
Affiliated Faculty, Northwestern University, 2006-present
Faculty Fellow, Kellogg School of Management, Northwestern University, 2006-present
Assistant Professor of Finance, Kellogg School of Management, Northwestern University, 2006-present

 
Print Research
Research Interests
Corporate finance, behavioral finance, industrial organization, neuroeconomics and experimental finance

Articles
Kuhnen, Camelia M.. Forthcoming. Business Networks, Corporate Governance and Contracting in the Mutual Fund Industry. Journal of Finance.
AbstractLink
Kuhnen, Camelia M. and Joan Chiao. 2009. Genetic Determinants of Financial Risk Taking. PLoS ONE. 4(2)
AbstractLink
Knutson, Brian, Camelia M. Kuhnen, G. Elliott Wimmer and Piotr Winkielman. 2008. Nucleus Accumbens Activation Mediates the Influence of Reward Cues on Financial Risk Taking. NeuroReport. 19(5): 509-513.
AbstractLink
Kuhnen, Camelia M. and Brian Knutson. 2005. Neural Basis of Financial Risk Taking. Neuron. 47(5): 763-770.
AbstractLink
Working Papers
Kuhnen, Camelia M., and Agnieszka Tymula. 2009. Rank Expectations, Feedback and Social Hierarchies.
AbstractLink
Eisfeldt, Andrea and Camelia M. Kuhnen. 2008. CEO-Firm Matches and Industry Conditions.
Kuhnen, Camelia M. and Alexandra Niessen. 2009. Is Executive Compensation Shaped by Public Attitudes?.
AbstractLink
Knutson, Brian, Camelia M. Kuhnen and Greg Samanez-Larkin. 2009. Financial Decision Making in the Aging Brain.
Kuhnen, Camelia M. and Andrea Eisfeldt. 2008. Aggregate Business Conditions and the CEO Labor Market.
AbstractLink
Kuhnen, Camelia M. and Brian Knutson. 2008. The Impact of Affect on Beliefs, Preferences and Financial Decisions.
AbstractLink
Kuhnen, Camelia M. and Jeffrey Zwiebel. 2008. Executive Pay, Hidden Compensation and Managerial Entrenchment.
AbstractLink
Kuhnen, Camelia M.. 2004. Dynamic Contracting in the Mutual Fund Industry.
AbstractLink

 
Print Teaching
Teaching Interests
Introductory finance
Full-Time / Part-Time MBA
Finance I (FINC-430-0)

This course counts toward the following majors: Analytical Finance, Finance

This course studies the effects of time and uncertainty on decision making. Topics include discounted cash flow valuation, stock and bond valuation, the term structure of interest rates, bond duration, capital budgeting under certainty and uncertainty, portfolio theory, asset pricing models and efficient markets.

Prerequisites: Knowledge of (a) probability and statistics through linear regression and (b) financial accounting. Requirement (a) may be satisfied with prior or concurrent registration in DECS-434, sufficient previous course work in statistics or attending Finance I statistics tutorials (available fall quarter only). Requirement (b) may be satisfied with prior or concurrent registration in ACCT 430 or sufficient previous course work in financial accounting. MECN-430 is recommended.

To qualify for a Finance I (FINC-430) waiver, you must have passed a comparable course with a grade of A. The type and level of material covered in the course are represented by chapters 1-13 and 23 of the text by Brealey and Myers, Principles of Corporate Finance. You need not request a Finance I waiver to enroll in FINC-440 (Turbo). To help you decide whether you should waive Finance I, take the self-assessment test online at www.kellogg.northwestern.edu/finance/curriculum/finance1waiver.htm.