Faculty & Research

David Vang

Professor : Finance Department

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Dave Vang graduated summa cum laude from St. Cloud State University and received a Ph.D. in economics from Iowa State University. Besides being an award-winning teacher, he has performed more than 70 consulting assignments for firms ranging from small businesses to Fortune 100 corporations. He has been a CFO for a technology firm through the process of start up to going public, and this experience led him to co-author the textbook Entrepreneurial Finance: An Applied Approach 3rd edition, published by M.E. Sharpe.


Academic Background

B.A., economics and political science, St. Cloud State University
Ph.D., economics, Iowa State University

Research Specialties

  • Business valuation
  • Derivatives
  • Entrepreneurship
  • Publicly financed projects
  • U.S. economy

Current Research

  • Derivatives / financial markets
  • Macroeconomics 

Major Works

  • Lundsten, L., M. Daugherty, J. Shovein, M. Sullivan, H. Beckmann, and D. Vang, "Why Don’t We Just Ask Them--Do Finance Practitioners Read Academic Research?" HIJSE 29:3, (2013).
  • Glac, K., J. Skirry, and D. Vang, "What is So Morbid about Viaticals?" Business & Professional Ethics Journal 31:3-4 (2012): 453-473.
  • "OHNo Swim Club: Organizational Governance and Mission." In Introduction to Nonprofit Management: Text and Cases, edited by W. Glenn Rowe and Mary Conway Dato-On, 67-72. Ivey, California: Sage Publishing, 2013.
  • Lutz, H. S., David O. Vang and W. D. Raffield, "Using Game Theory to Predict Supply Chain Cooperation," Performance Improvement Journal 51:3 (2012): 19-23.
  • Jithandrenathan, Thadavillil and David O. Vang, "Impact of Single Stock Futures on the Volatility of Underlying Russian Stocks," Global Business and Finance Review 15:2 (2010): 156-168.
  • Hamilton, T. and David O. Vang, "Appraising Leased Assets: A Needed Correction to WSATA Procedures," Tax Management Real Estate Journal 25:9 (2009): 212-220.
  • Odinaeva, L. V., David O. Vang and T. Jithendranathan, "Spatial Integration and Price Volatility of Russian Regional Wheat Markets," International Journal of Business & Economics Perspectives 4 (2009): 18-32.
  • Hamilton, T. and David O. Vang, "Accounting for Operating Leases in the Unit Valuation Approach," Journal of Property Tax Assessment & Administration 4:3 (2008): 25-35.
  • Hamilton, T. and David O. Vang, "Partitioning Capitalization Rates: Operating Leases in Unitary Valuation," Appraisal Journal 75:2 (2007): 146-155.
  • Cornwall, J. R., David O. Vang and J. Hartman. Entrepreneurial Finance: An Applied Approach, 3rd edition, M. E. Sharp, 2012. 
  • “Savings and Loan Capital and the Use of Interest Rate Swaps,” The American Economist 36:2 (1992).
  • “Are You Really Breaking Even When You Use Break-Even Analysis,” The Journal of Applied Manufacturing Systems 3:2 (1990). 


  • Cornwall, J. R., D. Vang and J. Hartman. "Entrepreneurial Financial Management: An Applied Approach," 3rd edition, M.E. Sharp, 2012.

Significant Scholarly Honors

  • Outstanding educator award, Iowa State College of Business, 1988