Faculty Profile

Albert "Pete" Kyle Charles E. Smith Chair Professor of Finance Ph.D., University of Chicago 4433 Van Munching Hall Phone: 301-405-9684 E-mail: akyle@rhsmith.umd.edu

Professor Kyle's research focuses on theoretical market microstructure. His research involves mathematical modeling of informed trading in speculative markets, including topics such as insider trader, market manipulation, price volatility, the information content of market prices, and market liquidity. His current research also deals with concepts from industrial organization to model the valuation dynamics of growth stocks and value stocks by applying techniques used to value real options. His teaching interests include venture capital and private equity, corporate finance, option pricing, market microstructure, and asset pricing. After obtaining an undergraduate degree in mathematics from Davidson College and studying economics at Oxford University as a Rhodes Scholar, Prof. Kyle received his PhD in Economics from the University of Chicago.

Before joining the faculty at the University of Maryland, he was a professor at Princeton University, the University of California at Berkeley, and Duke University. He is a Fellow of the Econometric Society and a board member of the American Finance Association. He served as a staff member of the Presidential Task Force on Market Mechanisms (Brady Commission) after the stock market crash of 1987 and is a currently a member of NASDAQ's economic advisory board.