Donald B. Keim Faculty Profile

Donald B. Keim
John B. Neff Professor of Finance

PhD, University of Chicago, 1983; MBA, University of Chicago, 1980; BSBA, Bucknell University, 1975

Research Areas
Asset pricing; behavior of institutional traders; measurement of institutional investor trading costs; risks and returns of stock market based real estate investments

Current Projects
Investment style, trade behavior and price impacts; Implementation costs of institutional investors in international equity markets; The interrelation between REITs, stocks, and bonds

Academic Positions Held
Wharton: 1982-present (named John B. Neff Professor of Finance, 1998). Previous appointment: Loyola University of Chicago. Visiting appointment: INSEAD, France, 1994, 1996-98; 2004

Other Positions
Research Associate, Research Division, Federal Deposit Insurance Corporation, 1978.

Career and Recent Professional Awards; Teaching Awards
Trefftz Award, Western Finance Association, 1982; Roger F. Murray Prize, Institute for Quantitative Research in Finance, 1996; Graham & Dodd Award, Financial Analysts Federation, 1987, 1999; New York Stock Exchange Award, Western Finance Association, 1996

Professional Leadership 2005-2009
Co-Editor, European Finance Review,1999-2003; Member, Best Execution Task Force, Association for Investment Management and Research, 2001-2002

Representative Publications
(with A. Madhavan)
"The Relation Between Stock Market Movements and NYSE Sat Prices." Journal of Finance 55 (2000).

"An Analysis of Mutual Fund Design: The Case of Investing in Small-Cap Stocks." Journal of Financial Economics 51 (1999).

(with A. Madhavan)
"Transactions Costs and Investment Style: An Inter-Exchange Analysis of Institutional Equity Trades." Journal of Financial Economics 46 (1997).

(with J. Gyourko)
"What Does the Stock Market Tell Us About Real Estate Returns." AREUEA Journal 20 (1992).