School of Business Gazette > June 1, 2003

Two New Faculty Join Finance Department This Summer

Two new faculty members have joined the Department of Finance, Investment and Banking. Toni M. Whited joins the School of Business as an associate professor. She most recently was a visiting associate professor in the finance department of the University of Michigan. She earned her Ph.D. and M.A. degrees, both in economics, from Princeton University. She earned a B.A. summa cum laude in economics and French from the University of Oregon. Before Michigan, Professor Whited was a visiting associate professor at Northwestern University and an associate professor at the University of Iowa. Prior to earning her Ph.D., she was an economist for the Board of Governors of the Federal Reserve System. Her research interests are investment, liquidity constraints, corporate diversification and measurement error.

Kenneth A. Kavajecz joins the finance department as an assistant professor. He comes to Madison from The Wharton School at the University of Pennsylvania, where he most recently was an assistant professor. Kavajecz earned his Ph.D. and M.S. from Northwestern, both in finance. He earned his B.S. in economics/political science from UW-Madison. Kavajecz's research interests are liquidity provision and the structure of financial markets, capital markets and derivative securities. While at Wharton, he received two teaching awards. He is a member of the Economic Advisory Board of the National Association of Securities Dealers.