Areas of Expertise

Banking, Debt Design, Financial Institutions, Insurance

Academic Degrees

• Chartered Financial Analyst, 2007
• PhD, Purdue University, 1993
• BS, Truman State University, 1988

Professional Experience

• Board of Directors, Thrivent https://www.thrivent.com/ (2013 – present)
• Executive Associate Dean of Faculty and Research (2016 – 2022)
• Associate Dean for Indianapolis Research and Programs (2010 – 2016)
• Board of Directors, Lutheran High School Indianapolis http://lhsi.org/ (2009-2016)
• Chair, Undergraduate Program (2005 – 2010)
• Associate Editor for Journal of Financial Research (2012- 2017)
• Associate Editor for The Financial Review (2005-2009)
• Board of Directors for the Midwest Finance Association (2005-2009)
• Assistant Professor, University of Tulsa (1993-1997)

Awards, Honors & Certificates

• Favorite Professors of Executive MBAs, Poets and Quants, 2023
• MBA Teaching Excellence Award 1999, 2003, 2004, 2008, 2009, 2014, 2016, 2017
• Lilly MBA Teaching Award 2014
• Trustee Teaching Award 2003
• Outstanding Paper Award, Midwest Finance Association 2003

Selected Publications

• Carow, K. A., and Salotti, V. (2014). The U.S. Treasury’s Capital Purchase Program: Treasury Selectivity and Market Returns Across Weak and Healthy Banks. Journal of Financial Research, 37(2),  211-241.
• Carow, K., Kane, E., and Narayanan, R. (2011). Safety-Net Losses from Abandoning Glass-Steagall Restrictions. Journal of Money Credit and Banking, 43(7), 1371-1398.
• Carow, K., Heron, R., Lie, E. and Neal, R. (2009). Option Grant Backdating Investigations and Capital Market Discipline. Journal of Corporate Finance, 15(5), 562-572. 
• Carow, K., Cox, S., and Roden, D. (2009). Demutualizations: Determinants and Consequences of the Mutual Holding Company Choice. Journal of Banking and Finance, 33(8), 1454-1463.
• Adams, B., Carow, K., and Perry, T. (2009). Earnings Management and Initial Public Offerings: The Case of the Mutual Thrift Industry. Journal of Banking and Finance, 33(12), 2363-2372.
• Carow, K., Cox, S., and Roden, D. (2007). The Role of Insider Influence in Mutual-to-Stock Conversions. Journal of Money Credit and Banking, 39(6), 1285-1304.
• Carow, K., Kane, E., and Narayanan, R. (2006). How have Borrowers Fared in Banking Mega-mergers. Journal of Money Credit and Banking, 38(3), 821-836.
• Carow, K., Cox, S., and Roden, D. (2004). Mutual Holding Companies: Evidence of Conflicts of Interest through Disparate Dividends. Journal of Banking and Finance, 28(2), 277-298.
• Carow, K., Heron, R. A., and Saxton, T. (2004). Do Early Birds Get the Returns? An Empirical Investigation of Early Mover Advantages in Acquisitions. Strategic Management Journal, 25(6), 563-585.    
• Carow, K. (2001). The Wealth Effects of Allowing Bank Entry into the Insurance Industry. The Journal of Risk and Insurance, 68(1), 129-150.
• Carow, K. (2001). Citicorp – Travelers Group Merger: Challenging the Barriers Between Banking and Insurance. Journal of Banking and Finance, 25(8), 1553-1571.
• Carow, K. and Heron, R. A. (1998). The Interstate Banking and Branching Efficiency Act of 1994: A Wealth Event for Acquisition Targets. Journal of Banking and Finance, 22, 175-196.
• Carow, K., and Lee, W. (1997). State Passage of Interstate Banking Legislation: An Analysis of Firm, Legislative, and Economic Characteristics. Journal of Banking and Finance, 21(7), 1017-1043.

Edited on December 4, 2023