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 (tentative).
- Bansal, R., Kiku, D., & Ochoa, M. Climate Change Risk.
- Bansal, R., Kiku, D., & Ochoa, M. Climate Beliefs, Growth Expectations and Capital Markets.
- 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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Finance Doctoral Seminar (FIN 580) Lectures and discussions relating to new areas of interest. See class schedule for topics and prerequisites.
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Individual Study and Research (FIN 590) Directed reading and research.
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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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Empirical Analysis in Finance (FIN 592) Designed to train the student in the conduct of empirical work in Finance. Covers the major tools and databases needed to replicate the results of published academic papers and to conduct original research.
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