Dr. Kahl has been teaching online courses for Baker College since January 2001.

He received a BA from the University of Maryland, an MBA from the University of Pittsburgh, and Ph.D. from the University of Florida.

During his academic career, he taught a wide range of finance and investments courses as well as strategy, management, international business, and computer-related courses at the University of Ottawa, the University of Lethbridge, the University of Georgia, Minnesota State University at Mankato, and Gannon University. He has also been a Visiting Professor at universities in Austria, Burundi, China, Costa Rica, France, Haiti, Latvia, Romania, and Tunisia.

He is the author or co-author of 47 books and 50 articles in scholarly and professional journals. Most of these publications are about finance, economics, computers, international business, and/or management decision making.

Before becoming an academic, he served 10 years in the USAF.

Ph.D - University of Florida (Gainesville) , 1969

Investment Management and the Computer: Limitations and Prospects
UMI AAT 0245218

https://archive.org/details/investmentmanage00kahlrich

Racicot, F. -E., Rentz, W. F., Kahl, A. L., & Mesly, O. (2019). Examining the dynamics of illiquidity risks within the phases of the business cycle, Borsa Istanbul Review, 19(2), 117-131.

The Fama-French (FF) five-factor model is cast into a dynamic setting to capture the impact of illiquidity over the phases of the business cycle on the returns of the passive FF twelve sector portfolios. We use two dynamic approaches, Kalman filtering and a recursive/rolling robust instrumental variables (IV) algorithm cast into a generalized (GMM) framework, to determine time-varying alpha and beta estimates. Our principal result is that the Kalman filter approach supports the hypothesis that illiquidity is an important risk factor in a dynamic context. However, the only factor found to matter in the dynamic GMM approach is the market risk premium. Nevertheless, illiquidity may be prescient with respect to financial crises.

Racicot, F.-E., Rentz, W., & Kahl, A. (2017). Rolling regression analysis of the Pastor-Stambaugh model: Evidence from

robust instrumental variables. International Advances in Economic Research, 23(1), 75-90.

This article compares the Capital Asset Pricing Model with the Fama-French and Pastor-Stambaugh factor models using a new rolling regression version of generalized method of moments (GMM) analysis instead of ordinary least squares regression. This dynamic GMM method using robust instruments is necessary because some factors are measured with error and the disturbances may be non-spherical. The rolling GMM method is more sensitive to dynamic episodes, such as the crisis of 2007-2009, so it would have forecast increased volatility several months before the crash.

Co-author: Thomson Nelson guide to Web research for accounting 2007-2008 (Thomson Nelson Canada, 2008)
ISBN: 0176441239. 70 pages. Table of Contents
Guidebook for using the Web in accounting research

Co-author: Thomson Nelson guide to Web research: Economics 2007-2008 (Thomson Nelson Canada, 2008)
ISBN: 0176105344. 82 pages. Table of Contents
Guidebook for using the Web for researching topics on economics.

Co-author: Thomson Nelson guide to web research for finance 2007-2008 (Thomson Nelson Canada, 2007)
ISBN: 0176442502. Table of Contents
Guidebook for using the Web in financial research

Co-author: Calculator Guide for Finance (Thomson Nelson Canada, 2008)
Guidebook for using the TI BA2+ financial calculator to solve financial management problems

Co-author: Spreadsheet Guide for Finance (Thomson Nelson Canada 2008)
Guidebook for using Excel spreadsheets to solve financial management problems

Co-author: Managerial Economics, First Canadian Edition (Thomson Nelson Canada in 2007)
ISBN 0176224289. 416 pages. Table of Contents

Co-author: Contemporary Financial Management, First Canadian Edition (Thomson Nelson Canada in 2004)
ISBN 017616992X. 766 pages. Table of Contents