David Vang

Professor, Finance

dovang@stthomas.edu

(651) 962-5127

2115 Summit Ave
McNeely Hall 354
St. Paul, MN 55105

B.A., Economics/Political Science, St. Cloud State University
Ph.D., Economics, Iowa State University

See publications in UST Research Online

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

Summer 2015 Courses
Summer 2015 Courses
Crs - Sec Title Days Time Location
GBEC 600 - 201 Econ of Org and Management M - - - - - - 1730 - 2145 SCH 315
Description of course Econ of Org and Management : CRN: 30294
Economic concepts offer a foundation for understanding managerial decision making within an organizational context and the interactions of organizations in the marketplace. A broad range of topics and concepts will be integrated into lectures, discussions, and case analyses. Topics include: the theory of the firm, including principal - agent issues and incentive contracts; market (demand and supply) analysis, competitive dynamics and strategy implications, internal and external labor markets, decision making in risk-related environments, and government policies affecting management decisions. The emphasis on the U.S. and on market-based economies will be considered in a global context. Prerequisite: DSCI600 or OPMT 600
Schedule Details
Location Time Day(s)
GBEC 600 - 202 Econ of Org and Management - T - - - - - 1730 - 2145 SCH 315
Description of course Econ of Org and Management : CRN: 30295
Economic concepts offer a foundation for understanding managerial decision making within an organizational context and the interactions of organizations in the marketplace. A broad range of topics and concepts will be integrated into lectures, discussions, and case analyses. Topics include: the theory of the firm, including principal - agent issues and incentive contracts; market (demand and supply) analysis, competitive dynamics and strategy implications, internal and external labor markets, decision making in risk-related environments, and government policies affecting management decisions. The emphasis on the U.S. and on market-based economies will be considered in a global context. Prerequisite: DSCI600 or OPMT 600
Schedule Details
Location Time Day(s)
Fall 2015 Courses
Fall 2015 Courses
Crs - Sec Title Days Time Location
FINC 321 - 05 Financial Management M - W - - - - 1335 - 1510 MCH 109
Description of course Financial Management : CRN: 42931
An examination of the elements of the finance function of the organization as well as the financial analysis of decisions. Topics include working capital management, acquisition of capital, capital budgeting, cost of capital, theories of valuation, and present value. Prerequisites: ACCT 210, ACCT 215 (or ACSC 320 for actuarial majors), STAT 220 (MATH 313 or STAT 314 for actuarial majors), ECON 251, 252, and junior standing.
Schedule Details
Location Time Day(s)
FINC 430 - 01 Financial Intermediaries M - - - - - - 1730 - 2115 MCH 114
Description of course Financial Intermediaries : CRN: 42942
Concepts, practices and organization for financial management of various financial intermediaries. Asset-liabilities management, duration, swaps, hedges and other concepts will be covered. Banks will be the primary area for study, but the course also will look at other institutions including insurance, funds and thrifts. The course will be based on text, lectures, guest speakers, computer modeling, a bank simulation and examination. Prerequisites: FINC 324 or 325, MATH 109 or 111 or 113, and BETH 301
Schedule Details
Location Time Day(s)
FINC 600 - 422 Financial Management See Details * *
Description of course Financial Management : CRN: 42949
This course will focus on the financial management of business. It will cover the following subject matter: risk, return, evaluation, cost of capital, capital budgeting, long-term financing, capital structure theory, financial analysis and planning, and working capital management. The international aspect of financial management will be covered as it applies to the subject matter outlined above. -- Prerequisite: OPMT600, ACCT601, GBEC600
Schedule Details
Location Time Day(s)
TMH 4011201-170011 Sep '15
TMH 4010730-170012 Sep '15
J-Term 2016 Courses
J-Term 2016 Courses
Crs - Sec Title Days Time Location
Academic and Professional Positions
  • Full Professor, University of St. Thomas, St. Paul / Mpls (2000 - present)
  • Chairman of the Department of Finance, University of St. Thomas, St. Paul / Mpls (1999 - 2011)
  • Associate Professor of Finance, University of St. Thomas, St. Paul / Mpls (1994 - 2000)
  • Acting Chief Financial Officer, Inter-Con/PC, Inc., Eden Prairie (1998 - 1999)
  • Visiting Professor of Engineering, University of Minnesota, Minneapolis (1999 - 1999)
  • Director of the Finance Concentration, University of St. Thomas, St. Paul / Mpls (1995 - 1999)
  • Assistant Professor of Finance, University of St. Thomas, St. Paul / Mpls (1989 - 1994)
  • Visiting Professor of Engineering, University of Minnesota, Minneapolis (1993 - 1994)
  • Instructor of Finance, University of St. Thomas, St. Paul / Mpls (1988 - 1989)
  • Instructor of Finance, Iowa State University, Ames (1986 - 1988)
  • Teaching Assistant of Economics, Iowa State University, Ames (1983 - 1986)
  • Other, Office of Senator Rudy Boschwitz, Washington (1983 - 1983)
  • Research and mailing list maintenance, St. Cloud State University, St. Cloud (1980 - 1982)

Professional Memberships
  • Financial Management Association

Public Service
  • Homeless Ministry Care Provider, Other
  • Presentation of the Blessed Virgin Mary Parish Finance Committee, Committee Chair

Publications
  • Lundsten, L. L., Daugherty, M. S., Shovein, J. A., Sullivan, M. F., Beckmann, H., & Vang, D. O. (forthcoming). Why don't we just ask them - do finance practitioners read academic research??. (29)(3),
  • Glac, K., Skirry, J. D., & Vang, D. O. (2012). What is so morbid about Viaticals: An examination of the ethics of economic ideas and economic reality. Business and Professional Ethics Journal, (31)(3/4), pp. 453-474
  • Lutz, H. S., Vang, D. O., & Raffield, W. D. (2012). Using game theory to predict supply chain cooperation. Performance Improvement Journal, (51)(3), pp. 19-23
  • Jithendranathan, T., & Vang, D. O. (2010). Impact of single stock futures on the volatility of underlying Russian stocks. Global Business and Financial Review, (15)(2), pp. 156-168
  • Hamilton, T. W., & Vang, D. O. (2009). Appraising leased assets: A needed correction to WSATA procedures. Real Estate Journal, (25)(9), pp. 212-220
  • Jithendranathan, T., Odinaeva, L. L., & Vang, D. O. (2009). Spatial integration and price volatility of Russian regional wheat markets. International Journal of Business and Economic Perspectives, (4)(1), pp. 18-32
  • Hamilton, T. W., & Vang, D. O. (2008). Accounting for operating leases in the unit valuation approach. Journal of Property Tax Assessment and Administration, (5)(3), pp. 25-35
  • Hamilton, T. W., & Vang, D. O. (2007). Partitioning capitalization rates operating leases in unitary valuation. Appraisal Journal, (75)(2), pp. 146-155

Books and Chapters
  • Cornwall, J., Vang, D. O., & Hartman, J. (2012). Entrepreneurial financial management: An applied approach 3rd ed. New York New York: M.E. Sharpe
  • Vang, D. O. (2012). Introduction to Nonprofit Management; Text and Cases. In W. Glenn Rowe & Mary Conway Dato-On (Ed.), OHNO swim club: Organizational governance and mission (pp. 67-72). Ivey Casebook Series: A Sage Publication
  • Cornwall, J., Vang, D. O., & Hartman, J. (2009). Entrepreneurial financial management: An applied approach - 2nd ed. M.E. Sharpe
  • Cornwall, J., Vang, D. O., & Hartman, J. (2004). Entrepreneurial financial management: An applied approach. Prentice-Hall Active Learning Technologies

Research Interests
  • Banking
  • Corporate Finance
  • Derivatives
  • Economic Markets - Domestic
  • Economic Markets - International
  • Employment
  • Health Care
  • Operations
  • Public Finance
  • Real Estate
  • Valuations

Presentations
  • "Economic outlook" National Generation Accounting and Finance Association, Bloomington, Minnesota, June 01, 2015
  • "Hot Topics: Debate on the Minimum Wage" UST School of Law, Minneapolis, Minnesota, January 01, 2015
  • "Using one year risk adjusted stock return performance data to evaluate student learning in a student managed investment fund" Association for Financial Education, Savannah, Georgia, September 01, 2014
  • "Can a market neutral investment strategy be a substitute for fixed income?" Multinational Finance Society Conference, Prague, Czech Republic, July 01, 2014
  • "Evaluating student learning through investment returns in a student managed fund" OCB Faculty Research Symposium, Minneapolis, Minnesota, April 01, 2013
  • "U.S. economy" Institute of Management Accountants Conference, April 20, 2012
  • "What is so morbid about Viaticals: An examination of the ethics of economic ideas and economic reality" Vincentian Business Ethics Conference, New York, NY, October 01, 2011
  • "What is so morbid about Viaticals: An examination of the ethics of economic ideas and economic reality" Vincentian Business Ethics Conference, New York, NY, October 01, 2011
  • "Spatial integration and price volatility of Russian regional wheat markets" International Academy of Business and Public Administration Disciplines, Orlando, Florida, January 01, 2009
  • "Accounting for operating leases in the unit valuation approach" ARES American Real Estate Society, Captiva Island, Florida, May 01, 2008
  • "Can a market neutral investment strategy be a substitute for fixed income?" Midwest Finance Association, Minneapolis, MN, March 01, 2007
  • "An analysis of a market neutral strategy: Can it be superior to equities?" Midwest Finance Association, Minneapolis, Minnesota, January 01, 2007
  • "Decomposing capitalization rates: The case of operating leases in the unitary valuation approach" ARES American Real Estate Society, Key West, Florida, June 01, 2006
  • "Can a market neutral investment strategy be a substitute for fixed income?" COB Research Seminar, Minneapolis, MN, April 01, 2005
  • "Market Neutral Investment Strategy: Can It Be a Substitute for Fixed Income?" FMA-Financial Management Association, New Orleans, Louisiana, October 01, 2004