From July 28-31, 2025, PhD students gathered at the Wharton School to learn the tools they need to understand and conduct corporate finance research using structural estimation.
The Rodney L. White Center for Financial Research brought together top PhD candidates in finance from universities around the globe to participate in this intensive, four-day program.
Participants attended lectures for the first half of each day and then spent the second half applying the material to research projects. These students learned how to do structural estimation, and left Philadelphia with computer code they can use in their future research.
Program Leadership
Summer School was organized by Luke Taylor, the John B. Neff Professor in Finance at the Wharton School and Academic Director of the Rodney White Center, as well as Toni Whited, Professor of Economics and Director of PhD Admissions at the University of Michigan and Stephen Terry, Associate Professor of Economics at the University of Michigan.
Student Experience
“The Summer School of Structural Estimation was incredibly informative and useful,” says Kelcie Gerson, PhD student at the University of Michigan. “I feel like I am much more equipped to tackle structural estimation models without feeling completely lost. All three instructors provided great value in their respective strengths and were incredibly helpful and approachable.”
Hongye Guo, from University of Hong Kong, expanded on the Summer School experience: “I gained valuable insights into cutting-edge computational techniques and deepened my understanding of the expanding literature on structural estimation. I also had engaging and productive conversations with fellow participants, forging meaningful connections with future colleagues.”
Alexey Vasilenko of Vanderbilt University reflects: “The 2025 Summer School on Structural Estimation was absolutely incredible! In just four days, Toni, Luke, and Stephen taught us both the theoretical knowledge and practical skills needed to successfully apply structural estimation in finance research.
The program’s organization was extraordinary. The lectures were the most efficiently structured I have ever encountered, covering complex material with remarkable clarity. The afternoon coding sessions allowed participants to grasp concepts with impressive speed. Beyond that, Toni and Luke shared invaluable insights and methodological details that cannot be learned from reading papers alone. This knowledge is absolutely essential for producing high-quality research. They also provided unique guidance on navigating a career in finance academia.
I cannot express how deeply grateful I am to Toni and Luke for creating such an invaluable opportunity! The school has genuinely transformed my research capabilities and provided tools I will use throughout my academic career.”
Learn more about 2025 Rodney White Center Summer School here.
View the program agenda.