Carlson School


The Carlson School Finance Department focuses on understanding financial decisions, markets, and institutions. Faculty research in these areas is internationally known and has been published in the best finance and economics journals. The department is committed to quality teaching at the undergraduate, MBA, and PhD levels.

Jacelly Cespedes
Assistant Professor
Murray Z Frank

Murray Frank was the President of the Midwest Finance Association (2017-2018). In recent years much of his work has focused on corporate capital structure. He is a co-founder of the Virtual Corporate Finance Wednesdays an international scholarly seminar series.

Robert Goldstein earned a PhD in finance from the University of California, Berkeley in 1996 and a PhD in physics from the University of Illinois, Urbana Champaign in 1992. Prior to the Carlson School, he served as an associate professor at Washington University, St.

Pinar Karaca Mandic
Professor, C. Arthur Williams Jr. Professor in Healthcare Risk Management

Professor Pinar Karaca-Mandic (she/her/hers) teaches healthcare marketplace and medical technology evaluation. She is the C. Arthur Williams Jr. Professor in Healthcare Risk Management in the Department of Finance, and the Founding Director of the Business Advancement Center for Health (BACH).

Xiaoji Lin
US Bancorp Professor in Financial Markets and Institutions Professor of Finance

Dr. Xiaoji Lin is the US Bancorp Professor in Financial Markets and Institutions and a Professor of Finance at the University of Minnesota, Carlson School of Management. Before joining Minnesota in 2018, Dr. Lin taught at London School of Economics and Political Science and the Ohio State University (tenured in 2018).

Erik Loualiche
Assistant Professor

Assistant Professor Erik Loualiche’s research focuses on asset pricing and macroeconomics, particularly the interaction
between industrial organization and asset pricing. He also studies the interaction between sources of macroeconomic
risk and corporate finance activity. Loualiche has taught applied econometrics, macroeconomics, microeconomics,

Stephen T Parente
Professor, Minnesota Insurance Industry Chair of Health Finance

STEPHEN T. PARENTE, Ph.D., MPH, MS is a Professor in the Department of Finance and the Minnesota Insurance Industry Chair of Health Finance in Carlson School of Management at the University of Minnesota and Associate Dean of the Global Institute. From 2014-2017, he served as Associate Dean of MBA and MS programs. Dr.

Juliana Salomao
Assistant Professor
Raj Singh
Associate Dean (With Faculty Rank)

Raj Singh's research interests include corporate finance, auction theory, agency theory, and market-microstructure.

Martin Szydlowski
Assistant Professor

Martin Szydlowski is an Assistant Professor of Finance at the Carlson School of Management, University of Minnesota. His research examines how agency conflicts influence firm investment, capital structure, and the optimal mix of managerial incentives. He also studies the impact of ambiguity aversion on incentive contracts.

Richard T. Thakor
Assistant Professor

Richard T. Thakor is an Assistant Professor of Finance at University of Minnesota, Carlson School of Management. He is a Research Affiliate at the MIT Laboratory for Financial Engineering (LFE), and is a Research Affiliate at the WFA Center for Finance and Accounting Research (WFA-CFAR) at Washington University in St. Louis.

Tracy Yue Wang

Tracy Wang is the John Spooner Professor of Finance. Her expertise lies in the fields of corporate governance, law and economics, and behavioral finance.

Colin Ward
Assistant Professor
Andrew Winton
Professor and Minnesota Banking Industry Endowed Chair

Andrew Winton has been at the Finance Department of the University of Minnesota’s Carlson School of Management since 1998. He was at Northwestern University’s Kellogg Graduate School of Management from 1991 to 1998. He received an A.B. in Mathematics from Princeton University in 1980, an M.B.A. in Finance from the University of Pennsylvania (Wharton) in 1982, and a Ph.D.

Lisa Kline
Felisa (Lisa) Kline is a Senior Lecturer in Finance at the University of Minnesota’s Carlson School of Management. Prior to coming to the Carlson School, Lisa worked in multiple areas of Corporate Finance for General Mills, including development of their Finance Learning and Development Program.
John Molloy
Senior Lecturer
Helen Moser
Senior Lecturer

Helen found a passion for finance during her 5-year stint with the U.S. Army.  Post-Army, she earned her undergraduate and graduate degrees in Finance.  She spent several years in the banking industry, working her way up from credit analyst to CFO.

Nick Seeman
Senior Teaching Specialist
Stuart Webb
Senior Lecturer
Eric White
Senior Teaching Specialist

Prior to joining the Carlson School of Management in 2022, Eric was Director of Financial Planning and Analysis at Bluestem Brands. Prior to this, he held various roles including Financial Analyst and Senior Financial Analyst at Target Corporation and Senior Financial Analyst and Manager of Financial Planning and Analysis at Bluestem Brands.

Thanh Le
Senior Lecturer
Amy Moore, PhD, MBA
Adjunct Faculty

Amy has 20 years of experience in the medical industry from bench discovery to product launch as both a biomedical scientist and business development strategist.

Demi Radeva
Adjunct Faculty

Demi Radeva is a healthcare policy and economics professional responsible for directing strategic planning efforts across large payers. Currently, Demi leads the enterprise Health Equity Strategy for the Community and State line of business at UnitedHealthcare. In her previous roles, Demi has enabled successful enterprise pandemic response.

Matt Stoll, MBA
Adjunct Faculty

Matt Stoll, MBA, is a marketing and commercialization professional with over 20 years experience in the telecom and medical devices industries.

Richard Vogel
Senior Lecturer
Gordon Alexander
Emeritus Professor

Gordon Alexander received his PhD in finance in 1975 from The University of Michigan, where he also received a Master of Science in mathematics in 1973 and an MBA in finance in 1970. Previously he received a Bachelor of Science in business administration from the State University of New York-Buffalo in 1969.

John Boyd
Professor, Banking Industry of Minnesota Chair

Boyd received his PhD in Applied Economics from the University of Pennsylvania.   Prior to his current appointment at Minnesota, be was Senior Research Officer, Federal Reserve Bank of Minneapolis, and earlier Associate Professor of Finance at Kellogg Graduate School of Management, Northwestern University.  Boyd has been or is consultant to the United

John Kareken
Professor Emeritus
Timothy Nantell

Timothy Nantell has held the following positions with the Carlson School: Acting Dean, Associate Dean of Faculty, Finance Department Chairperson, and Faculty Director of the MBA Program.  He also initiated the Carlson Funds Enterprise. His current research and teaching interests concern valuation models and their application.