M. Babajide (Jide) Wintoki
Curriculum Vitae
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Dean & Henry D. Price Professor of Business
University of Kansas School of Business · Capitol Federal Hall · Lawrence, Kansas 66045
Tel (785) 864-7515 · Email jwintoki@ku.edu · Web wintoki.net · Google Scholar
University of Kansas School of Business · Capitol Federal Hall · Lawrence, Kansas 66045
Tel (785) 864-7515 · Email jwintoki@ku.edu · Web wintoki.net · Google Scholar
Last updated August 1, 2026
Academic & Leadership Positions
University of Kansas School of Business
Dean & Henry D. Price Professor of Business2025 – date
Associate Dean of Graduate Programs2020 – 2025
Area Director, Analytics, Information Systems & Operations2019 – 2022
Professor of Finance2019 – date
Associate Professor of Finance2014 – 2019
Assistant Professor of Finance2008 – 2014
U.S. Securities and Exchange Commission
Financial Economist, Division of Economic & Risk Analysis2017
Education
Ph.D., Finance · Terry College of Business, University of Georgia
B.S., Electrical Engineering · University of Lagos
Honors & Awards
Best Empirical Finance Paper, Southern Finance Association Meeting2022
MBA Finance Faculty Outstanding Teaching Award2018, 2019
Koch Foundation Fellowship, KU School of Business2018 – 2020
Mentor Recognition Award for Outstanding Contributions in Support of Doctoral Students (Association of Business Doctoral Students, KU School of Business)2013, 2016, 2018
SEC Division of Economic & Risk Analysis Director's Award (for outstanding individual contributions to the Office of Litigation Economics)2017
Best Paper in Investments (Semifinalist), Financial Management Association Meeting2017
Guy & Rosa Mabry Award for Best Paper in the KU School of Business2011, 2017
Nominated (Finalist), Financial Review Reader's Choice Best Paper Award2015
Finalist (Top Five), Henry A. Bubb Award for Outstanding Teaching, KU School of Business2010, 2011, 2015
Outstanding Paper in International Finance, Eastern Finance Association Meeting2014
Byron T. Shutz Award for Excellence in Teaching, University of Kansas2014
Outstanding Educator Award, Beta Gamma Sigma Honor Society, KU2014
KU Celebration of Teaching Excellence Honoree (by nomination of MBA students, KU School of Business)2013
Best Paper (Housing Category), American Real Estate Society Meeting2012
Phi Kappa Phi · Beta Gamma Sigma
Research
Publications
29
He, Z. & Wintoki, M. B. (in press). Worker heterogeneity and the effect of noncompetes on firm performance. Journal of Economics & Management Strategy.
AwardBest Empirical Finance Paper, Southern Finance Association Meeting, 2022.
28
Beracha, E., Kim, E., Wintoki, M. B., & Xi, Y. (in press). Highly skilled immigrants and local housing prices: Evidence from the H-1B visa lottery. Journal of Real Estate Research.
27
Wintoki, M. B. & Xi, Y. (2026). Shocks to CEO overconfidence and the deflation of hubris in acquisitions. Journal of Empirical Finance, 88: 101745.
26
Anderson, C., Wintoki, M. B., & Xi, Y. (2024). CFO social capital, liquidity management, and the market value of cash. Journal of Banking & Finance, 163: 107163.
25
Goldie, B., Jiang, C., Koch, P., & Wintoki, M. B. (2023). Indirect insider trading. Journal of Financial & Quantitative Analysis, 58: 2327–2364.
24
Beracha, E., He, Z., Wintoki, M. B., & Xi, Y. (2022). On the relation between innovation and housing prices: A metro level analysis of the US market. Journal of Real Estate Finance & Economics, 65: 622–644.
23
Jiang, C., Wintoki, M. B., & Xi, Y. (2021). Insider trading and the legal expertise of corporate executives. Journal of Banking & Finance, 127: 106114.
22
Wintoki, M. B. & Xi, Y. (2020). Partisan bias in fund portfolios. Journal of Financial & Quantitative Analysis, 55: 1717–1754.
ImpactJFQA High Impact Article, 2020.
MediaMoney Magazine; CNBC; Reuters; Wall Street Journal; Barron's; Seeking Alpha.
21
Biggerstaff, L., Cicero, D., & Wintoki, M. B. (2020). Insider trading patterns. Journal of Corporate Finance, 64: 101654.
20
Wintoki, M. B. & Xi, Y. (2019). Friendly directors and the cost of regulatory compliance. Journal of Corporate Finance, 58: 112–141.
19
Jiang, C., Kubick, T., Miletkov, M., & Wintoki, M. B. (2018). Offshore expertise for onshore companies: Director connections to island tax havens and corporate tax policy. Management Science, 64: 3241–3268.
18
Miletkov, M., Poulsen, A., & Wintoki, M. B. (2017). Foreign independent directors and the quality of legal institutions. Journal of International Business Studies, 48: 267–292.
17
Bansal, N., Joseph, K., Ma, M., & Wintoki, M. B. (2017). Do CMO incentives matter? An empirical investigation of CMO compensation and its impact on firm performance. Management Science, 63: 1993–2015.
AwardGuy O. & Rosa Lee Mabry Award for Best Paper, KU School of Business, 2017.
16
Akbas, F., Meschke, F., & Wintoki, M. B. (2016). Director networks and informed traders. Journal of Accounting & Economics, 62: 1–23.
15
He, Z. & Wintoki, M. B. (2016). The cost of innovation: R&D and high cash holdings in U.S. firms. Journal of Corporate Finance, 41: 280–303.
14
Hansen, B., Miletkov, M., & Wintoki, M. B. (2015). Investor protection and the role of firm-level financial transparency in attracting foreign investment. Financial Review, 50: 393–434.
HonorNominated (Finalist), Financial Review Reader's Choice Best Paper Award, 2015.
13
Miletkov, M., Moskalev, S., & Wintoki, M. B. (2015). Corporate boards and acquirer returns: International evidence. Managerial Finance, 41: 244–266.
12
Miletkov, M., Poulsen, A., & Wintoki, M. B. (2014). The role of corporate board structure in attracting foreign investors. Journal of Corporate Finance, 29: 143–157.
AwardBest Paper in International Finance, Eastern Finance Association Meeting, 2014.
11
Cicero, D., Wintoki, M. B., & Yang, T. (2013). How do public companies adjust their board structures? Journal of Corporate Finance, 23: 108–127.
10
Joseph, K. & Wintoki, M. B. (2013). Advertising investments, information asymmetry and insider gains. Journal of Empirical Finance, 22: 1–15.
9
Beracha, E. & Wintoki, M. B. (2013). Forecasting residential real estate price changes from online search activity. Journal of Real Estate Research, 35: 283–312.
AwardBest Paper (Housing Category), American Real Estate Society Meeting, 2012.
8
Ivanov, V., Joseph, K., & Wintoki, M. B. (2013). Disentangling the market value of customer satisfaction: Evidence from market reaction to the unanticipated component of ACSI announcements. International Journal of Research in Marketing, 30: 168–178.
7
Wintoki, M. B., Linck, J., & Netter, J. (2012). Endogeneity and the dynamics of internal corporate governance. Journal of Financial Economics, 105: 581–606.
CitationsTop 1% in Economics & Business (Web of Science).
HonorJFE Hall of Fame for top-cited papers in Volumes 1–111 (1974–2012).
6
Hirschey, M., Skiba, H., & Wintoki, M. B. (2012). The size, concentration and evolution of corporate R&D spending in U.S. firms from 1976 to 2010: Evidence and implications. Journal of Corporate Finance, 18: 496–518.
5
Miletkov, M. & Wintoki, M. B. (2012). Financial development and the evolution of property rights and legal institutions. Emerging Markets Review, 13: 650–673.
4
Netter, J., Stegemoller, M., & Wintoki, M. B. (2011). Implications of data screens on merger and acquisition analysis: A large sample study of mergers and acquisitions from 1992–2009. Review of Financial Studies, 24: 2316–2357.
ReprintMergers and Acquisitions, 2012, ed. J. H. Mulherin, Edward Elgar Publishing.
AwardGuy O. & Rosa Lee Mabry Award for Best Paper, KU School of Business, 2012.
3
Joseph, K., Wintoki, M. B., & Zhang, Z. (2011). Forecasting abnormal stock returns and trading volume using investor sentiment: Evidence from online search. International Journal of Forecasting, 27: 1116–1127.
2
Miletkov, M. & Wintoki, M. B. (2009). Legal institutions, democracy and financial sector development. Advances in Financial Economics, 13: 171–196.
1
Wintoki, M. B. (2007). Corporate boards and regulation: The effect of the Sarbanes-Oxley Act and the exchange listing requirements on firm value. Journal of Corporate Finance, 13: 229–250.
AwardBest Doctoral Student Paper, Southern Finance Association Meeting, 2006.
Working Paper
Institutional investors and the performance of private placements
with M. Hertzel & J. Linck. Permanent Working Paper.
Conference Presentations (Selected)
Inferring corporate insiders' beliefs about firm value from tax withholding elections
UNC Tax Symposium, Chapel Hill, NC, March 2025; Midwestern Finance Association Annual Meeting, Chicago, IL, March 2025 (with R. Clark & T. Kubick).
Highly skilled immigrants and local housing prices: Evidence from the H-1B visa lottery
30th Eastern Real Estate Society Annual Conference, Sopot & Gdansk, Poland, June 2024 (with E. Beracha, E. Kim, & Y. Xi).
Who benefits from removing mobility restrictions?
Southern Finance Association Annual Meeting, Destin, FL, November 2022 (with Z. He).
Shocks to CEO overconfidence and the deflation of hubris in corporate acquisitions
Financial Management Association Annual Meeting, Denver, CO, October 2021 (with Y. Xi).
Indirect insider trading
Western Finance Association Annual Meeting, Huntington Beach, CA, June 2019 (with B. Goldie, C. Jiang, & P. Koch).
Non-competes and profit generation by corporate employees
Financial Management Association Annual Meeting, San Diego, CA, October 2018 (with Zhaozhao He).
Partisan bias in fund portfolios
Midwestern Finance Association Annual Meeting, San Antonio, TX, March 2018; Financial Management Association Annual Meeting, Boston, MA, October 2017 (with Y. Xi).
Friendly directors and the cost of regulatory compliance
Financial Management Association Annual Meeting, Las Vegas, NV, October 2016.
Offshore expertise for onshore companies: Director connections to island tax havens and corporate tax policy
Midwest Finance Association Annual Meeting, Atlanta, GA, March 2016; Financial Management Association Annual Meeting, Orlando, FL, October 2015 (with C. Jiang, T. Kubick, & M. Miletkov).
Foreign independent directors and the quality of legal institutions
JIBS Conference on the Role of Financial and Legal Institutions in International Corporate Governance, London, U.K., February 2016 (with M. Miletkov & A. Poulsen).
Insider trading patterns
American Finance Association Annual Meeting, Boston, MA, January 2015; Financial Management Association Annual Meeting, Chicago, IL, October 2013 (with L. Biggerstaff & D. C. Cicero).
Director networks and informed traders
Financial Management Association Annual Meeting, Nashville, TN, October 2014; 17th Annual Conference of the Swiss Society for Financial Market Research, Zurich, Switzerland, April 2014 (with F. Akbas & F. Meschke).
The role of corporate board structure in attracting foreign investors
Eastern Finance Association Annual Meeting, Pittsburgh, PA, April 2014 (with M. Miletkov & A. Poulsen).
Investor protection and the role of firm-level transparency in attracting foreign investment
Southern Finance Association Annual Meeting, Fajardo, PR, November 2013 (with B. Hansen & M. Miletkov).
Forecasting residential real estate price changes from online search activity
American Real Estate Society Annual Meeting, San Diego, CA, January 2013; Pete Beach, FL, April 2012 (with E. Beracha).
Importing governance: A multinational study of the determinants and effects of having foreign independent directors
European Finance Association Annual Meeting, Copenhagen, Denmark, August 2012 (with M. Miletkov & A. Poulsen).
Do firms adjust to a target board structure?
International Conference on Financial Intermediation, Competition and Risk (IFABS), Rome, Italy, June 2011 (with D. Cicero & T. Yang).
Are insider purchases at firms with advertising investments incrementally informative?
Eastern Finance Association Annual Meeting, Miami, FL, April 2010 (with K. Joseph).
Endogeneity and the dynamics of internal corporate governance
American Economic Association Annual Meeting, San Francisco, CA, January 2009; Western Finance Association Annual Meeting, Big Island, HI, June 2008 (with J. Linck & J. Netter).
Financial development and the evolution of property rights and legal institutions
Southern Finance Association Annual Meeting, Key West, FL, November 2009 (with M. Miletkov).
Corporate boards and regulation: The effect of the Sarbanes-Oxley Act and the exchange listing requirements on firm value
Southern Finance Association Annual Meeting, Destin, FL, November 2006.
Institutional investors and the performance of private placements
Financial Management Association Annual Meeting, Salt Lake City, UT, October 2006 (with M. Hertzel & J. Linck).
Other Invited Presentations
University of Louisville, March 2024; Louisiana State University, November 2021; Miami University (Ohio), February 2020; Florida State University, November 2019; University of Nevada, Las Vegas, September 2018; University of Georgia, September 2018; St. John's University, April 2018; University of South Carolina, December 2016; Wichita State University, November 2016; Auburn University, October 2016; University of Oklahoma, September 2016; Iowa State University, April 2016; Securities and Exchange Commission, April 2016; University of Mississippi, December 2015; University of South Florida, October 2014; University of Missouri, February 2012; Texas A&M University, December 2011.
Grants & Funded Projects
National Science Foundation Engineering Research Center for Environmentally Applied Refrigerant Technology Hub (EARTH)
$26 million.
Institute for International Business Research Grant, University of Kansas, 2013
"International Tax Haven Expertise of Directors and its Impact on Corporate Financial Policy." $5,000.
Institute for International Business Research Grant, University of Kansas, 2011/2012
"The Determinants and Consequences of Importing Directors." $16,400.
New Faculty General Research Fund, University of Kansas, Summer 2009
"The Structure, Evolution and Regulation of Corporate Governance, and its Effect on Firm Value and Performance." $3,000.
Editorial Appointments
Journal of International Business Studies · Editorial Review Board2020 – 2022
Journal of Corporate Finance · Associate Editor2018 – 2021
Financial Review · Associate Editor2018 – 2021
Journal of Business Research · Editorial Review Board2018 – 2021
Teaching
Courses Taught
Doctoral Seminar in Corporate FinancePhD
Empirical Methods in FinancePhD
Corporate FinanceMBA
International FinanceMBA
Corporate Financial PolicyUndergraduate
Doctoral Dissertation Committee Chair · Initial Placement
Hazel Zhang · Ph.D., Finance, 2024 · Xi'an Jiaotong-Liverpool University, China
Yaoyi Xi · Ph.D., Finance, 2018 · San Diego State University
Zhaozhao He · Ph.D., Finance, 2016 · University of New Hampshire
Jian Huang · Ph.D., Finance, 2013 · Towson University
Doctoral Committee Member · Initial Placement
Xun Xiong · Ph.D., Finance, 2026 · University of Guelph
Ryan Clark · Ph.D., Finance, 2025 · University of Nebraska-Lincoln
Emily Kim · Ph.D., Finance, 2023 · California State University San Marcos
Alex Zhang · Ph.D., Finance, 2023 · Teacher Retirement System of Texas
Yijun Li · Ph.D., Accounting, 2020 · Erasmus University, Netherlands
Qiyang Lian · Ph.D., Accounting, 2020 · University of Missouri–Kansas City
Chao Jiang · Ph.D., Finance, 2016 · University of South Carolina
Minjie Huang · Ph.D., Finance, 2016 · University of Louisville
Suzette Myser · Ph.D., Public Administration, 2016 · University of Central Florida
Minghui Ma · Ph.D., Marketing, 2015 · Appalachian State University
Salah Alsayaary · Ph.D., Economics, 2013 · Saudi Arabian Monetary Agency
Duane Myer · Ph.D., Marketing, 2013 · Pepperdine University
Jian Huang · Ph.D., Finance, 2013 · Towson University
Gokhan Torna · Ph.D., Finance, 2013 · Stony Brook University
Zelin Zhang · Ph.D., Marketing, 2012 · Renmin University, China
Service
University of Kansas · University Service
Co-Chair, Vice-Provost of Community Impact Search Committee2022
Academic Programs Committee, Member2021 – 2025
Executive Council for Graduate Studies, Member2020 – 2025
Restricted Research Committee, Member2021 – 2024
University Committee on Sabbatical Leaves, Member2018 – 2021
University Tuition Advisory Committee, Member2016, 2018
Restricted Research Committee, Member2015 – 2017
Chancellor's Distinguished Teaching Award Committee, Member2015; 2019 – 2022
University Calendar Committee, Chair2014 – 2015
University Calendar Committee, Member2012 – 2015
KU Foreign Language & Area Studies Fellowship Selection Committee, Member2013 – 2015
Kansas African Studies Center Executive Committee, Member2011 – 2014
University of Kansas · School of Business Service
PhD Team, Member2018 – 2020
MBA Admissions Committee, Member2014 – 2020
MBA Team, Member2014 – 2020
Research, Evaluation & Development Team, Member2018 – 2019
Finance Faculty Recruiting Committee, Member2017 – 2020
Post-Tenure Review Committee, Member2016
Promotion & Tenure Committee, Member2015 – 2016
Faculty Advisory Committee, Chair2015
Faculty Advisory Committee, Member2014 – 2015
Finance Faculty Recruiting Committee, Member2014 – 2015
Finance Seminar Series, Coordinator2011 – 2014
Beta Gamma Sigma, Faculty Advisor2011 – 2014
Finance Faculty Recruiting Committee, Member2011 – 2012
Finance Faculty Recruiting Committee, Member2008 – 2009
Professional Service · Conference Organization
Southern Finance Association, Corporate Finance Track Chair · Palm Beach, FL2024
Eastern Finance Association, Corporate Finance Track Chair · Boston, MA2020
FMA European Conference, Program Committee · Glasgow, Scotland2019
Conference on Financial Market Regulation (SEC / CFA Institute / Lehigh / Maryland), Program Committee2018
Financial Management Association, Program Committee · Las Vegas, NV2016
Financial Management Association, Program Committee · Orlando, FL2015
Financial Management Association, Program Committee · Nashville, TN2014
Eastern Finance Association, Corporate Finance Track Chair · Pittsburgh, PA2014
Southern Finance Association, Program Committee · Charleston, SC2012
Eastern Finance Association, Program Committee · Savannah, GA2011
Southern Finance Association, Program Committee · Key West, FL2011
Independent Research Grant Proposal Reviewer
National Science Foundation, Decision, Risk & Management Sciences Program, 2020; Research Grants Council of Hong Kong, 2014, 2018; Social Sciences and Humanities Research Council of Canada, 2018; Israel Science Foundation, 2016.
Discussions & Sessions Chaired at Professional Meetings
Financial Management Association Annual Meetings (2006, 2007, 2010, 2011, 2012, 2013, 2014, 2016, 2017, 2019); Eastern Finance Association Annual Meetings (2007, 2010, 2013); Midwest Finance Association Annual Meeting (2016); Southern Finance Association Annual Meeting (2006); Conference on Empirical Legal Studies (2009); University of Kansas Conference on Early Stage Venture Investing (2012); Southwind Finance Conference, University of Kansas (2011).
Ad Hoc Journal Reviewer (Selected)
Accounting & Business Research; Applied Economics Letters; Applied Geography; Economics Letters; Emerging Markets Finance & Trade; European Journal of Finance; Finance Research Letters; Financial Management; Financial Review; International Finance; International Review of Economics & Finance; International Review of Financial Analysis; Journal of African Development; Journal of Banking & Finance; Journal of Behavioral & Experimental Economics; Journal of Business Finance & Accounting; Journal of Business Research; Journal of Corporate Accounting & Finance; Journal of Corporate Finance; Journal of Economics & Management Strategy; Journal of Empirical Finance; Journal of Finance; Journal of Financial & Quantitative Analysis; Journal of Institutional Economics; Journal of International Business Studies; Journal of Money, Credit & Banking; Management Science; Managerial Auditing Journal; Managerial Finance; Multinational Finance Journal; Nonprofit Management & Leadership; Oxford Economic Papers; PLOS One; Quarterly Journal of Finance; Quarterly Journal of Finance & Accounting; Quarterly Review of Economics & Finance; Regulation & Governance; Research in International Business & Finance; Review of Financial Studies; Social Science Journal; Technology in Society.
Non-Academic Employment
Production Engineer, NLNG · Shell Gas / Agip / TotalFinaElf / NNPC Joint Venture1999 – 2002
Assistant Brand Manager, Procter & Gamble · Central Europe, Middle East & Africa1998 – 1999
Technical Data Manager, ExxonMobil1997 – 1998