New Behavioral Finance Center Enhances UMD's Academic Legacy
New Behavioral Finance Center Enhances UMD's Academic Legacy
Alumnus H. Kent Baker, A Leading Voice in the Field, Aims to Expand UMD's Research
Recently, a significant gift from alumni H. Kent Baker, a prominent figure in finance, has paved the way for the University of Maryland's Robert H. Smith School of Business to set up the H. Kent Baker Center for Behavioral Finance. This innovative initiative marks the establishment of only the second named center focusing on behavioral finance in the United States.
With the generous support from Baker, the new center is designed to unite prominent financial researchers and innovators at the Smith School. The core goal is to deepen the understanding of how human psychology influences financial decision-making, moving beyond traditional rational economic theories.
Baker, an alumnus of the Smith School with multiple finance and education degrees, expressed enthusiasm regarding the initiative, highlighting the importance of behavioral finance. "The Smith School has a stellar finance faculty, renowned for their research in behavioral finance. Grasping how emotions and cognitive biases influence financial decisions is essential for making informed choices," he remarked.
Dr. Darryll J. Pines, President of UMD, applauded Baker's contributions. He highlighted that the new center, along with the faculty positions funded by Baker, will position the Smith School as a leader in the advancing field of behavioral finance.
Baker's contributions not only lead to the formation of the H. Kent Baker Center for Behavioral Finance but also create the Baker Endowed Chair in Behavioral Finance, providing additional support for faculty endeavors.
Expressing gratitude, Smith School Dean Prabhudev Konana emphasized that Baker's investment will elevate the school’s research capabilities and illuminate its role in understanding psychological factors affecting financial decision-making.
An accomplished University Professor of Finance at American University's Kogod School of Business, Baker boasts a remarkable academic background. He has achieved eight post-secondary and postgraduate degrees and holds CFA and CMA qualifications.
Throughout his 56 years in academia, Baker has emerged as a leading authority in the finance sector, especially in behavioral finance, dividend policy, and survey methodology. His interdisciplinary research has significantly influenced modern finance, altering how academics, professionals, and policymakers comprehend market behaviors.
Baker has been recognized as one of the most prolific finance authors by the Journal of Finance Literature, cementing his legacy in academia. His impactful work has been acknowledged globally, with Stanford University ranking him among the top 2% of scientists worldwide for his research contributions.
A distinguished author and editor, Baker has published an impressive number of works, including 46 books and over 225 peer-reviewed articles. His commitment to the field and those who follow in his footsteps is evident through his initiatives, such as an award he established to assist doctoral candidates at the Smith School in attending conferences.
In 2025, Baker dedicated another transformative gift to honor his late wife, leading to the naming of the Linda A. and H. Kent Baker School of Education at American University. With his latest donation to UMD, he hopes to further contribute to the education of future business leaders saying, "Education is paramount to me, and the University of Maryland has had a monumental impact on my life."
About the University of Maryland's Robert H. Smith School of Business
Conveniently located within a thriving academic landscape near Washington, D.C., the Robert H. Smith School of Business is a leader in management education and research. With over 70,000 alumni forming a community of more than 400,000 University of Maryland graduates, the Smith School integrates closely with various networks across business, government, and nonprofit sectors. It offers a wide range of programs including undergraduate, MBA, PhD, DBA, and executive education, catering to diverse learning needs.
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SOURCE University of Maryland's Robert H. Smith School of Business
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