Kenneth J. Singleton

Kenneth J. Singleton
Professor, Finance
Contact Info
KennethJ.Singleton
The Adams Distinguished Professor of Management
Professor of Economics (by courtesy), School of Humanities and Sciences
Academic Area: 
Finance

Research Statement

Kenneth Singleton’s research focuses on econometric methods for estimation and testing of dynamic asset pricing models; modeling of term structures of government and defaultable bond yields; pricing credit derivatives; measuring and managing market, credit, and liquidity risks; and debt financing in emerging economies.

Bio

Kenneth Singleton is the Adams Distinguished Professor of Finance, and a former Senior Associate Dean at the Graduate School of Business, Stanford University.

He previously taught in the Economics Department at the University of Virginia and the Graduate School of Industrial Administration at Carnegie Mellon, and held short-term visiting positions at the University of Chicago and University of Tokyo. While on leave from Stanford, in 1991-92, he was a vice president in the Fixed Income Research Department of Goldman Sachs and Co.

Singleton’s research interests are in econometric methods for estimation and testing of dynamic asset pricing models; modeling of term structures of government and defaultable bond yields; measuring and managing market, credit and liquidity risks; and debt financing in emerging economies. His papers have appeared in the leading journals in finance and economics, he is coauthor of the book Credit Risk, and author of the book Empirical Dynamic Asset Pricing Models.

Singleton is a fellow of the Econometric Society and the Journal of Econometrics, and is a Research Associate of the NBER. He is the recipient of the Frisch Prize from the Econometric Society and two Smith-Breeden Distinguished Paper Awards from the Journal of Finance. He was an Editor of the Review of Financial Studies and an Associate Editor of the Econometrica, the Journal of Econometrics, and the Journal of Finance; is a past president of the Western Finance Association; and has served on the Board of Directors of the American Finance Association.

Singleton received his bachelor’s degree from Reed College, and his master’s degree and doctorate in economics from the University of Wisconsin.

Academic Degrees

  • PhD, University of Wisconsin, Madison, 1977
  • MS, University of Wisconsin, Madison, 1975
  • BA, Reed College, 1973

Academic Appointments

  • At Stanford University since 1987
  • CRSP Visiting Professor of Finance, University of Chicago, 1986
  • Assistant Professor-Professor, Carnegie Mellon University, 1980-1987
  • Assistant Professor, University of Virginia, 1977-1980

Professional Experience

  • Vice-President, Goldman Sachs & Co., 1991-1993 (on leave from Stanford)

Awards and Honors

  • Coulter Family Faculty Fellow for 2015-2016
  • Spence Faculty Fellow, Stanford Graduate School of Business, 2014-2015

Publications

Journal Articles

Kenneth J. Singleton, Scott Joslin, Marcel Priebsch. Journal of Finance. June 2014, Vol. 69, Issue 3, Pages 1197-1233.
Kenneth J. Singleton, Scott Joslin, Anh Lee. Journal of Financial Economics. September 2013, Vol. 109, Issue 3, Pages 604-622.
Kenneth J. Singleton, Scott Joslin, Anh Le. Journal of Financial Economics. 2013, Vol. 11, Issue 4, Pages 581-609.
Kenneth J. Singleton, Don H. Kim. Journal of Econometrics. September 2012, Vol. 170, Issue 1, Pages 32-49.
Kenneth J. Singleton, Stefan Nagel. Journal of Finance. June 2011, Vol. 66, Issue 3, Pages 873-909.
Kenneth J. Singleton, Francis A. Longstaff, Jun Pan, Lasse H. Pedersen. American Economic Journal: Macroeconomics. April 2011, Vol. 3, Issue 2, Pages 75-103.
Kenneth J. Singleton, Scott Joslin, Haoxiang Zhu. Review of Financial Studies. March 2011, Vol. 24, Issue 3, Pages 926.
Kenneth J. Singleton, Anh Le. Review of Financial Studies. May 2010, Vol. 23, Issue 5, Pages 2184.
Kenneth J. Singleton, Jun Pan. Journal of Finance. October 2008, Vol. 63, Issue 5, Pages 2345-2384.
Kenneth J. Singleton, Qiang Dai, Wei Yang. Review of Financial Studies. September 2007, Vol. 20, Issue 5, Pages 1669.
Darrell Duffie, Lasse Heje Pedersen, Kenneth J. Singleton. Journal of Finance. 2003, Vol. 58, Issue 1, Pages 119-159.
Kenneth J. Singleton, Qiang Dai. Review of Financial Studies. 2003, Vol. 16, Issue 3, Pages 631.
Kenneth J. Singleton, Qiang Dai. Journal of Financial Economics. March 2002, Vol. 63, Issue 3, Pages 415.
Kenneth J. Singleton. Journal of Econometrics. May 2001, Vol. 102, Issue 1, Pages 111-141.
Qiang Dai, Kenneth J. Singleton. Journal of Finance. 2000, Vol. 55, Issue 5, Pages 1943-1978.
Darrell Duffie, Jun Pan, Kenneth J. Singleton. Econometrica. 2000, Vol. 68, Issue 6 , Pages 1343 - 1376.

Books

Kenneth J. Singleton Princeton: Princeton University Press, 2006.

Teaching

Degree Courses

2017-18

This is a new MBA elective exploring innovative ways start-ups are altering household participation in financial services, by overcoming financial frictions and/or changing behaviors. "Inclusion"€ will be viewed broadly to encompass individuals...

2015-16

This course explores the interplay between dynamic asset pricing theory, statistical assumptions about sources of risk, and the choice of econometric methods for analysis of asset return data. Therefore, the lectures will be a blend of theory,...

Service to the Profession

  • Fellow, The Econometric Society
  • Research Associate, Natl. Bureau of Economic Research

Insights by Stanford Business

February 10, 2015
A better way to measure risk premiums in bond markets and, maybe, understand the links between economic activity and yields.
September 15, 2011
Research says there was an "economically and statistically significant effect of investor flows on futures prices."
November 1, 2001
Research suggests that companies are issuing these newly popular securities with more than raising capital in mind.

School News

December 5, 2016
A hands-on learning opportunity for students to manage a fund focused on social and environmental impact, Stanford GSB Impact Fund has made its first investment.
September 5, 2011
"Finance is becoming increasingly integrated with economics, and is drawing more widely from other disciplines," observes Singleton.