Finance Department

  • Paola Sapienza
    Paola Sapienza
    Donald C. Clark/HSBC Chair in Consumer Finance Paola Sapienza Photo © Nathan Mandell

The Kellogg School's Finance department is renowned in a broad range of specialties, from technical asset pricing to corporate financial policies and capital market dynamics. Faculty research is consistently recognized by award-winning publications in flagship finance journals. The Finance faculty also serve as editors of leading professional publications, setting the standards for new ideas in finance. The Finance major, among the most popular at the Kellogg School, takes full advantage of this expertise in a broad set of courses taught by faculty at the forefront of the field. more...

Kellogg Insight presents articles on Finance

How Malls Die—and How Your Business Could Be Next
When retail-store locations go under, they drag nearby stores down too
Based on the research of Efraim Benmelech , Nittai K. Bergman , Anna Milanez And Vladimir Mukharlyamov
When retail-store locations go under, they drag nearby stores down too : The geographic clustering of retail stores in malls and shopping centers, known as “agglomeration,” can act as a channel for spreading the effects of negative economic shocks such as store closures and bankruptcies. If a large retailer such as Circuit City or Linens ’n Things goes out of business, other stores located near a closing chain’s location are at higher risk of closing as well, regardless of local economic conditions.

Is Economic Growth a Question of Culture?
A decade of research shows how culture seeps into economic decisions
Based on the research of Paola Sapienza
A decade of research shows how culture seeps into economic decisions: Paola Sapienza, a professor of finance at the Kellogg School, looks at how gaps in economic development often fall along cultural lines. But does culture follow economic development or is economic development directed by culture? Sapienza studies the economic effects of family makeup, the effects of immigration on saving and spending patterns, and how trust and corruption factor into economic growth.

The Hidden Benefits of Unemployment Insurance
A pioneering study reveals that the benefits of unemployment insurance include reductions in mortgage defaults and improved access to credit
Based on the research of Joanne W. Hsu , David A. Matsa And Brian Melzer
A pioneering study reveals that the benefits of unemployment insurance include reductions in mortgage defaults and improved access to credit: A new study of the impact of the unemployment insurance program reveals two largely unanticipated benefits: It has helped to reduce mortgage delinquencies and foreclosures, and it has expanded overall access to credit.

Finance Department News

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