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Stephen McKeon

Associate Professor of Finance

Affiliations: Finance, Cameron Center for Finance and Securities Analysis, Lundquist Center for Entrepreneurship, Master of Science in Finance, Oregon MBA, Undergraduate Programs
Phone: 541-346-8556
Office: Lillis 381



Stephen McKeon is an associate professor in the Department of Finance, an Inman Research Scholar, and the academic director of the Cameron Center for Finance and Securities Analysis at the Lundquist College of Business. His expertise includes cryptoassets, private equity, and corporate risk-taking. He has been published in the Journal of Financial Economics, Review of Financial Studies, and Journal of Financial and Quantitative Analysis.

McKeon received his PhD from Purdue University while teaching as a graduate student instructor. His professional experience includes Collab+Currency, a venture capital firm with offices in San Francisco and New York, and he previously served as the chief financial officer of a winery in Napa Valley. He cofounded Skyward, a commercial drone software company, which was acquired by Verizon in 2017.

Degree History:
  • PhD, Purdue University, 2011
  • MS, Purdue University, 2009
  • BS, University of Oregon, 2000
Honors and Awards:
  • Ripple Faculty Fellowship, University of Oregon, 2020–present
  • Harry R. Jacobs, Jr. Professional Service Award, University of Oregon, 2017
  • Ersted Award for Distinguished Teaching, University of Oregon, 2016
  • James E. Reinmuth MBA Teaching Excellence Award, University of Oregon, 2013, 2014, 2015, 2016, 2017
  • Undergraduate Teaching Award, Business Advisory Council, 2012, 2015
  • Michael J. Barclay Award, Financial Research Association, 2012
  • Best Paper, Early Career Researcher, Capital Markets CRC, 2012
  • Krannert Certificate for Distinguished Teaching, Purdue University, 2009

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Areas of Expertise

  • Cryptocurrency
  • Venture capital
  • Private equity

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Current Projects

  • McKeon, Stephen. "Measuring Equity Issuance."

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Journal Articles:

Denis, David J., and Stephen B. McKeon. "Persistent Negative Cash Flows, Staged Financing, and the Stockpiling of Cash Balances." Journal of Financial Economics 142, no. 1: 293-313.

October 2021

Cain, Matthew D., Stephen B. McKeon, and Steven Davidoff Solomon. "Intermediation in Private Equity: The Role of Placement Agents." Journal of Financial and Quantitative Analysis 55, no. 4: 1095-1116.

June 2020

Fitzpatrick, Scott, and Stephen McKeon. "Banking on Stone Money: Ancient Antecedents to Bitcoin." Economic Anthropology 7, no. 1: 7-21.

January 2020

Cain, Matthew D., Stephen B. McKeon, and Steven Davidoff Solomon. "Do Takeover Laws Matter? Evidence from Five Decades of Hostile Takeovers." Journal of Financial Economics 124, no. 3: 464-485.

June 2017

Denis, David J., and Stephen B. McKeon. "Proactive Leverage Increases and The Value of Financial Flexibility." Journal of Applied Corporate Finance 28, no. 4: 17-28.

September 2016

Cain, Matthew D., and Stephen B. McKeon. "CEO Personal Risk-Taking and Corporate Policies." Journal of Financial and Quantitative Analysis 51, no. 1: 139-164.

February 2016

Denis, David J., and Stephen B. McKeon. "Debt Financing and Financial Flexibility: Evidence from Proactive Leverage Increases." Review of Financial Studies 25, no. 6: 1897-1929.

June 2012
Book Chapters:

McKeon, Stephen, and Derek Edward Schloss. "Law and Blockchains." In The Palgrave Handbook of Technological Finance, edited by Raghavendra Rau, Robert Wardrop, and Luigi Zingales, 311-335. London: Palgrave Macmillan.

September 2021

Benedetti, Hugo, Stephen McKeon, and Cameron Pfiffer. "Blockchain Trading and Exchange." In The Palgrave Handbook of Technological Finance, edited by Raghavendra Rau, Robert Wardrop, and Luigi Zingales, 337-383. London: Palgrave Macmillan.

September 2021

McConnell, John J., Stephen B. McKeon, and Wei Xu. "Corporate Governance and Ownership Structure." In Corporate Governance: A Synthesis of Theory, Research, and Practice, edited by H. Kent Baker and Ronald Anderson, 303-322. New Jersey: John Wiley & Sons, Inc.

November 2011
Technical Reports:

Rauchs, Michel, Apolline Blandin, Keith Bear, and Stephen McKeon. "2nd Global Enterprise Blockchain Benchmarking Study."

September 2019

In the News

In a piece for The Conversation, finance professor Stephen McKeon takes an in-depth look at a different type of cryptocurrency.
A team of Oregon MBA students participated in the Turner MIINT competition, a year-long curriculum that trained them to think like investors.
Two UO professors found parallels between old rock discs and the new digital currency.
Eight Lundquist College of Business researchers brought their papers to life during the inaugural Research Slam.
Student investors at the University of Oregon are the winners of the top award from D.A. Davidson & Co.'s Student Investment Program.
Created in partnership with the Portland Business Journal, the Oregon's Recovery Playbook video interview series highlights the region's most influential leaders.
Finance professor Stephen McKeon partnered with UO archaeologist Scott Fitzpatrick to explore similarities between bitcoin and an ancient form of currency.
UO celebrates its innovators; student startups push boundaries; new Innovation Technology Fellowship, and more.