Dana Kiku
Associate Professor of Finance
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Educational Background
- Ph.D., Economics, Duke University, 2007
Positions Held
- Associate Professor, University of Illinois at Urbana-Champaign, 2017 to present
- Assistant Professor, University of Illinois at Urbana-Champaign, 2013-2017
- Assistant Professor, University of Pennsylvania, 2007-2013
Recent Publications
- Ai, H., Kiku, D., & Li, R. (2023). A Quantitative Model of Dynamic Moral Hazard. Review of Financial Studies, 36 (4), 1408-1463.
- Ai, H., Kiku, D., Li, R., & Tong, J. (2021). A Unified Model of Firm Dynamics with Limited Commitment and Assortative Matching. Journal of Finance, 76 (1), 317-356.
Other Publications
Articles
- Ai, H., & Kiku, D. (2016). Volatility Risks and Growth Options. Management Science, 62 (3).
- Bansal, R., Kiku, D., & Yaron, A. (2016). Risks for the Long Run: Estimation with Time Aggregation. Journal of Monetary Economics, 82.
- Bansal, R., Kiku, D., Shaliastovich, I., & Yaron, A. (2014). Volatility, the Macroeconomy and Asset Prices. Journal of Finance, 69 (6).
- Ai, H., & Kiku, D. (2013). Growth to Value: Option Exercise and the Cross-Section of Equity Returns. Journal of Financial Economics, 107 (2).
- Bansal, R., Kiku, D., & Yaron, A. (2012). An Empirical Evaluation of the Long-Run Risks Model for Asset Prices. Critical Finance Review, 1.
- Bansal, R., & Kiku, D. (2011). Cointegration and Long-Run Asset Allocation. Journal of Business and Economic Statistics, 29 (1).
- Bansal, R., Dittmar, R., & Kiku, D. (2009). Cointegration and Consumption Risks in Asset Returns. Review of Financial Studies, 22 (3).
Working Papers
- Bansal, R., Kiku, D., & Miller, S. Market Entry and Risk Dynamics.
- Bansal, R., Kiku, D., & Ochoa, M. Climate Change Risk.
- Bansal, R., Kiku, D., & Ochoa, M. Climate Change and Growth Risks.
- Kiku, D. Is the Value Premium a Puzzle.
Current Courses
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Investment & Portfolio Mngt (FIN 411) Current theories of portfolio management are covered in considerable detail to provide a conceptual framework for the evaluation of investment strategies. Applications and implementation are covered in depth, including performance evaluation and international diversification.
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Theory of Finance (FIN 591) Examines theoretical frameworks for financial decision making under certainty and uncertainty, as well as perfect and imperfect capital markets; discusses state preference, mean-variance, and continuous time models; emphasizes the structure of individual utility functions.
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