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Sang Baum (Solomon) Kang Biography

Sang Baum (Solomon) Kang

Sang Baum Kang
Assistant Professor of Finance





Downtown Campus, Room 454


Ph.D., McGill University, Finance
M.S., Carnegie Mellon University, Computational Finance
M.S., University of Wisconsin, Actuarial Science
B.A., Yonsei University, Applied Statistics (Business Administration)


Sang Baum "Solomon" Kang is Assistant Professor of Finance at the Stuart School of Business. Dr. Kang's research focuses on energy finance, real options, commodities, and financial derivatives.

He is an author of more than ten refereed scientific publications in various outlets including Energy Economics, the Journal of Energy Markets, Economics Letters, Energy Risk, and Applied Economics Letters. His papers were presented at many conferences including the American Economic Association, the Society of Financial Econometrics, and Federal Deposit Insurance Corporation’s Derivatives and Risk Management Conference. His research in real options and the future of coal-fired electricity plants received media coverage from Risk.Net. His papers received the 2012 FMA Asian Conference Best Paper Award and the 2010 NFA Best PhD Student Paper Award. He taught various finance courses at McGill University, Korea Advanced Institute of Science and Technology, and Illinois Institute of Technology. He is a Financial Risk Manager certified by Global Association of Risk Professionals.

Prior to starting his PhD, Professor Kang worked for nine years in the energy sector doing financial modeling and analysis for commodity traders, risk managers, accountants, regulators, and senior management of Berkshire Hathaway Energy; he assumed managerial positions including Director of Structuring and Pricing at PacifiCorp Energy, a subsidiary of Berkshire Hathaway Energy.

Kang’s Mission Statement: “As a finance professor in a business school, I shall increase and transfer knowledge in finance. While producing original and relevant research, I shall help students construct their own knowledge and develop themselves into good professionals and entrepreneurs.”

Kang’s Ethics Statement: “During the journey of my academic career, I have maintained a high level of professional ethics: 1) Non-malfeasance: Am I doing any unnecessary harm to others? 2) Beneficence: Am I benefiting someone other than me? 3) Fidelity: Am I fulfilling my part in terms of my responsibilities? 4) Autonomy: Am I allowing students and colleagues to judge themselves? 5) Justice: Am I treating students and colleagues equitably? 6) Acting consciously: Are the assumptions in my decisions or behaviors valid?”


Research Interests: 

  • Energy Finance and Real Options: Real Option Decisions in Energy and Environmental Markets under Government Policy Risk; Complex Derivatives in Energy Markets; Energy Risk Management; Electricity, Crude Oil, Environmental, and Weather Markets; and Electricity Storage Valuation

  • Commodities and Financial Derivatives: Metals; Index Options; Asset Return Predictability; Heterogeneity in Beliefs; and Limits of Arbitrage

Research Profile: