In Memoriam: H. Kent Baker

H. Kent Baker, MBA ’69, DBA ’72, M.Ed. ’74, renowned finance scholar, major benefactor of the Robert H. Smith School of Business and member of the 1856 Society at The University of Maryland, passed away on January 22, 2026.

Dr. Baker, a Triple Terp and University Professor of Finance at American University Kogod School of Business, leaves a lasting legacy as a lifelong educator whose influence in academia and finance spans a remarkable 56-year career. His passion for learning and intellectual curiosity led him to earn eight postsecondary and postgraduate degrees in education and finance from three institutions, along with CFA and CMA designations.

Dr. Baker’s research transformed modern finance and changed how scholars, practitioners and policymakers approach market behavior, including dividend policy, survey research methodology, and, most notably, behavioral finance, which he studied and advanced literature on as a pioneer and leading voice in the field.

The Journal of Finance Literature recognized him as among the top 1% of the most prolific authors in finance during the past 50 years, having published 47 books, 38 book chapters, more than 225 academic journal articles and 130 other works. Last year, Stanford University ranked Baker among the top 2% of scientists worldwide. His consulting and training experiences spanned more than 100 organizations across the United States, Canada, Europe and the Middle East.

In 2025, Dr. Baker made a significant gift to the Smith School to establish the H. Kent Baker Center for Behavioral Finance, becoming only the second named center of its kind in the United States.

The center unites the Smith School’s highly regarded financial research and innovation capabilities to advance understanding of how human psychology, not just rational economic calculations, shapes financial decision-making, which Dr. Baker deeply believed in during his long academic career. In addition to founding the center, Dr. Baker’s gift also created an endowed chair in the Smith School's finance department.

Geoffrey Tate, Henry Kaufman Chair in Financial History and Director of the Baker Center for Behavioral Finance, mourns the loss of a “tremendous communicator who had a rare gift for bridging the gap between the frontiers of academic research and practice.” He maintains that the center will carry forward Baker’s important work and guiding values.

“His work on behavioral finance and the legacy he leaves with the Baker Center for Behavioral Finance will continue to inspire future generations of students and researchers to do impactful work in the field. He was a leader who was always kind and thoughtful, and will be deeply missed,“ says Tate.

Dr. Baker’s contributions toward the center’s creation represent the latest chapter in his long history of philanthropic contributions and further his reputation as a steward of education for future generations of business leaders.

In 2005, he established an award supporting Smith School doctoral candidates in finance, helping cover the costs of attending academic conferences. Dr. Baker made an additional transformational gift in 2025 to name the Linda A. and H. Kent Baker School of Education at American University in memory of his wife.

Beyond his academic and professional achievements, Dr. Baker was also a consummate artist. A professional musician, he mastered five instruments, recorded with Inner Circle and toured internationally with The Starliners, exemplifying a rare integration of scholarly rigor, professional excellence and creative expression.

In previous interviews with the Smith School, Dr. Baker consistently cited his family and his education as the most significant influences in his life and professional career. Those factors, combined with his passion for academia, were major drivers in his desire to give back.

“I think it’s important to recognize your appreciation for your educational experience and, when possible, give back with your time, financially or by providing students with jobs and internships,” Dr. Baker said. “If you do that, society and business will be better as a result, and more importantly, you’re making a difference in the world.”

Provost Jennifer King Rice had several interactions with Kent recently and said, “I enjoyed spending time with Kent at a number of events this past year and hearing about his many contributions to multiple organizations over the course of his career. His generosity to the Smith School will certainly be part of his lasting legacy.”

Smith School Dean Prabhudev Konana holds appreciation for Dr. Baker’s immeasurable impact on the institutions he both attended and served, and recognizes that his contributions will continue to serve as an example of what it means to be an exemplary scholar and human.

“I am deeply grateful for the privilege of knowing Dr. Kent Baker. His boundless passion for research and remarkable scholarly productivity remain an inspiration to all of us. Kent's foresight in establishing the Center for Behavioral Finance was truly visionary, creating a legacy that will live in perpetuity at the Smith School,” says Konana. “His life and work inspired generations of scholars and advanced behavioral finance in profound ways. He will be deeply missed and fondly remembered.”