Richard E. Kihlstrom
Ervin Miller-Arthur M. Freedman Professor of Finance and Economics
Research Interests: financial market equilibrium, information and uncertainty in economics, managerial incentives
Address: 2255 Steinberg-Dietrich Hall, 3620 Locust Walk, Philadelphia, PA 19104
Office: (215) 898-4378
PhD, University of Minnesota, 1968; BA, Purdue University, 1964
Career and Recent Professional Awards; Teaching Awards
Fellow, Econometric Society, 1981
Academic Positions Held
Wharton: 1979-present (Chairperson, Finance Department, 2006-present; Chairperson, Finance Department, 1988-94; named Ervin Miller-Arthur M. Freedman Professor of Finance, 1986; Associate Director, Doctoral Programs, 1986 88). Previous appointments: Northwestern University; University of Illinois; State University of New York at Stony Brook; University of Massachusetts.
In The News
Knowledge @ Wharton
FNCE203 - Advanced Corporate Finance
The objective of this course is to study the major decision-making areas of managerial finance and some selected topics in financial theory. The course reviews the theory and empirical evidence related to the investment and financing policies of the firm and attempts to develop decision-making ability in these areas. This course serves as an extension of FNCE 100 (FNCE 611). Someareasof financial management not covered in FNCE 100 are covered in FNCE 203. These may include leasing, mergers and acquisitions, corporate reorganizations, financial planning and working capital management, and some other selected topics. Other areas that are covered in FNCE 100 are covered more in depth and more rigorously in FNCE 203. These include investment decision making under uncertainty, cost of capital, capital structure, pricing of selected financial instruments and corporate liabilities, and dividend policy. During the Spring semester Professor Opp does not allow students to take this course pass/fail.
FNCE923 - Financial Economics Under Imperfect Information
General equilibrium and rational expectations. Foundations of the theory of information. Learning from prices in rational expectations equilibrium models. Moral hazard, adverse selection and signalling. Bidding theories.