Steven Todd

Associate Professor, Finance

Steven Todd, associate professor of finance, joined the faculty at Loyola University in 1997. He completed his Ph.D. in finance at the University of Washington, in Seattle; he also holds a B.S. degree in Operations Research and Industrial Engineering from Cornell University.

Prior to his academic career, Dr. Todd worked on Wall Street for 10 years as an analyst, investment banker and portfolio manager at Merrill Lynch and UBS Securities.

Dr. Todd teaches graduate and undergraduate courses in corporate finance, investments, options, derivatives, international finance, portfolio management and investment banking. His research interests include asset pricing, financial markets and institutions and corporate governance. He has published papers on securitization, mutual fund performance measurement, managerial compensation, and derivative markets in the following journals: Real Estate Economics, Journal of Business, Journal of Corporate Finance, and Journal of Futures Markets

Education

BS, Operations Research & Industrial Engineering, Cornell University
PhD, Finance, University of Washington

Research Interests

Asset Pricing
Financial Markets & Institutions
Corporate Finance
Financial History

Professional/Community Affiliations

Faculty Advisor, Rambler Investment Fund (RIF), 2015 - Present
Associate Dean of Faculty and Research, 2014 - 2019

Courses Taught

Portfolio Management
Advanced Topics in Investment Banking and Asset Management
Credit Risk Management & Structured Finance
Financial Math and Modeling
Options, Derivatives
Managing Interest Rate Risk
Investment Banking
Investments
Business Finance
Financial Management
International Finance

Publications/Research Listings

'Kruse, T., Todd, S. K., & Walker, M. (2022). Innovation in Urban Transit at the Start of the Twentieth Century: A Case Study of Metropolitan Street Railway’s Stealth Hostile Takeover of Third Avenue Railroad. Enterprise & Society, 23(2), 357-407.

Nohel, T., Hong, L., & Todd, S. K. (2015). Forecasting Volatility in the Presence of Limits to Arbitrage. Journal of Futures Markets, 35(11), 987-1002.

Nohel, T., Todd, S. K. (2005). Compensation for Managers with Career Concerns: the Role of Stock Options in Optimal Contracts. Journal of Corporate Finance, 11, 229-251.

Farnsworth, H., Ferson, W., Jackson, D., & Todd, S. K. (2002). Performance Evaluation with Stochastic Discount Factors. Journal of Business, 75(3), 473 - 504.

Todd, S. K. (2001). The Effects of Securitization on Consumer Mortgage Costs. Real Estate Economics, 29(1), 29 - 54.

Awards

Outstanding Teacher of the Year - Undergraduate Program, Quinlan School of Business, 2012