Sang Baum “Solomon” Kang

  • Assistant Director, Undergraduate Programs in Business
  • Associate Professor of Finance

Sang Baum “Solomon” Kang is an associate professor of finance at Stuart School of Business, Illinois Institute of Technology. He holds a B.S. in Applied Statistics from Yonsei University in Korea, an M.S. in Actuarial Science from the University of Wisconsin at Madison, an M.S. in Computational Finance from Carnegie Mellon University, and a Ph.D. in Finance from McGill University in Canada.

Kang’s research focuses on energy finance, real options, commodities, and financial derivatives. He is an author of more than ten refereed scientific publications in various outlets including Energy Economics, the Journal of Energy Markets, Economics Letters, Energy Risk, and Applied Economics Letters. His papers were presented at many conferences including the American Economic Association, the Society of Financial Econometrics, and Federal Deposit Insurance Corporation’s Derivatives and Risk Management Conference. His research in real options and the future of coal-fired electricity plants received media coverage from Risk.Net. His papers received the 2012 FMA Asian Conference Best Paper Award and the 2010 NFA Best Ph.D. Student Paper Award.

He has taught at McGill University, Korea Advanced Institute of Science and Technology, and Illinois Institute of Technology. He is a Financial Risk Manager certified by Global Association of Risk Professionals. Prior to starting his Ph.D., Kang worked for nine years in the energy sector doing financial modeling and analysis for commodity traders and risk managers; he assumed managerial positions including Director of Structuring and Pricing at PacifiCorp Energy, a subsidiary of Berkshire Hathaway Energy.

Kang’s Mission Statement:
As a finance professor in a business school, I shall increase and transfer knowledge in finance. I shall produce original and relevant research so that firms and governments make prudent financial decisions and informed economic policies. I shall help students construct their own knowledge in finance and develop themselves into good professionals and entrepreneurs.

Kang’s Ethics Statement:
During the journey of my academic career, I have maintained a high level of professional ethics:

  1. Non-malfeasance: Am I doing any unnecessary harm to others?
  2. Beneficence: Am I benefiting someone other than me?
  3. Fidelity: Am I fulfilling my part in terms of my responsibilities?
  4. Autonomy: Am I allowing students and colleagues to judge themselves?
  5. Justice: Am I treating students and colleagues equitably?
  6. Acting consciously: Are the assumptions in my decisions or behaviors valid?


Ph.D., McGill University, Finance
M.S., Carnegie Mellon University, Computational Finance
M.S., University of Wisconsin, Actuarial Science
B.A., Yonsei University, Applied Statistics (Business Administration)

Research Interests

  • Energy Finance and Real Options: Real Option Decisions in Energy and Environmental Markets under Government Policy Risk; Complex Derivatives in Energy Markets; Energy Risk Management; Electricity, Crude Oil, Environmental, and Weather Markets; and Electricity Storage Valuation
  • Commodities and Financial Derivatives: Metals; Index Options; Asset Return Predictability; Heterogeneity in Beliefs; and Limits of Arbitrage


Undergraduate Programs in Business

M.S. in Finance

Illinois Tech-Yonsei University Dual Degree Programs

Ph.D. in Finance

Ph.D. in Management Science

Available for media interviews on the following topics:

For media inquiries, please contact

Petra Kelly
Communications Director