Kenneth A. Kavajecz

Professor of Finance

(315) 443-9494

Ph.D. (Finance) Kellogg School of Management, Northwestern University

Dr. Kenneth A. Kavajecz is the 17th dean of the Martin J. Whitman School of Management. Prior to coming to Syracuse University in July 2013, he was a professor of finance and served as the chairman for the department of finance, and the associate dean of both the undergraduate program and the full-time MBA program at the University of Wisconsin-Madison. Dr. Kavajecz’s is an expert on financial market liquidity, trading, risk management, market structure and regulation. His research publications have appeared in many top academic journals including the Journal of Finance, Journal of Financial Economics and the Review of Financial Studies. His academic awards include the 2000 Financial Management Association best micro-structure paper for “Liquidity Provision during Circuit Breakers and Extreme Market Movements” and a nomination for the Smith Breeden Prize for the Best Paper in the Journal of Finance in 2005 for “Price Discovery in the U.S. Treasury Market: The Impact of Orderflow and Liquidity on the Yield Curve.”

In addition, Dr. Kavajecz has been awarded numerous MBA teaching awards at the University of Wisconsin, including the Gaumnitz Distinguished Faculty Teaching Award in 2008 as well as the David W. Hauck Award for Outstanding Teaching in the Undergraduate division at the Wharton School in 1998 and the Doctoral Teaching Award at Northwestern University in 1996.

Dr. Kavajecz holds a bachelor’s degree in economics from the University of Wisconsin-Madison and an M.S. and Ph.D. in finance from the Kellogg School of Management at Northwestern University. He has served as a member of the Economic Advisory Board for the National Association of Securities Dealers and has worked at an Assistant Economist at the Board of Governors of the Federal Reserve System.

Selected Publications

  • "What does equity sector orderflow tell us about the economy?", Review of Financial Studies, 24, 2011, (Beber, Alessandro, Michael Brandt and Kenneth Kavajecz)
  • "Flight-to-Quality or a Flight-to-Liquidity? Evidence from the Euro-Area Bond Market", Review of Financial Studies, 22, 2009, (Beber, Alessandro, Michael Brandt and Kenneth A. Kavajecz)
  • "Price Discovery in the Treasury Futures Market", Journal of Futures Markets, 27, 2007, (Brandt, Michael, Kenneth A. Kavajecz and Shane Underwood)
  • "A Specialist's Quoted Depth as a Strategic Choice Variable: An Application to Spread Decomposition Models", Journal of Financial Research, 29, 2006, (Caglio, Cecilia, and Kenneth A. Kavajecz)
  • "On the Presence and Market-Structure of Exchanges around the World", Journal of Financial Markets, 9, 2006, (Clayton, Matthew, Bjorn Jorgensen and Kenneth Kavajecz)


  • Gaumnitz Distinguished Faculty Teaching Award, Wisconsin School of Business, Spring 2008
  • MBA Teaching Award, Wisconsin School of Business, 2006-2007
  • Graduate Teaching Award, The Wharton School, University of Pennsylvania, 2003
  • Heartland Funds - Independent Director, Board of Directors, February 2008 - present
  • Nasdaq - Chairman, Economic Advisory Board, 2004