Finance Faculty

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.

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.

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
Distinguished McKnight University Professor, and 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 a University of Minnesota Distinguished McKnight University Professor. She is also the C. Arthur Williams Jr.

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.

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.

Richard Vogel
Senior Lecturer
Jerry Caruso
Clinical Faculty, Finance, Carlson School of Management, University of Minnesota
Mike Finch, PhD
Adjunct Associate Professor

Michael Finch, Ph.D., received his degree in Sociology from the University of Minnesota. Dr. Finch is known for his work on the cost, quality and financing of health care in the public and private markets.

Brian Friese
Senior Lecturer
Sheryl Holt
Senior Lecturer
Rahul Koranne, MD, MBA, FACP
Adjunct Assistant Professor

Rahul Koranne, MD, MBA, FACP, serves as the President & Chief Executive Officer of the Minnesota Hospital Association which strives to improve the health of communities across the state by collaborating with health systems throughout Minnesota. Rahul trained in internal medicine and holds a fellowship in Geriatrics from University of Minnesota.

Thanh Le
Senior Lecturer
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.

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.