Student investment groups: enhancing the liberal arts experience

Brian D. Bergquist (School of Business, Whitworth University, Spokane, Washington, USA)
Dawn L. Keig (School of Business, Whitworth University, Spokane, Washington, USA)
Timothy J. Wilkinson (School of Business, Whitworth University, Spokane, Washington, USA)

Managerial Finance

ISSN: 0307-4358

Publication date: 28 March 2019



Schools must not necessarily have a large amount of money or advanced finance curriculum for students to get the benefits of participating in a student-managed investment program. Any college or university with motivated students and faculty can have a successful program if they are willing to put forth the effort. The paper aims to discuss this issue.


The authors use a case study approach to examine specific characteristics of a successful student investment group implementation at a small liberal arts university in the Northwest USA.


Three student investment group implementation considerations are highlighted in this analysis: establishing an inclusive, interdisciplinary focus in a long-term club vs course format; utilizing all student-led training, governance and investment methodologies; and designing group processes with an emphasis on critical thinking and community outreach.

Practical implications

This case offers encouraging insights for how even a smaller college or university might successfully create and sustain a thriving successful student-led investment group with a relatively limited amount of funding and resources by leveraging liberal arts foundations.


An emphasis on how student-managed investment groups are tied to broader liberal arts foundations potentially helps schools of all sizes understand certain unique underlying value aspects for the students, the business programs and the broader university community.



Bergquist, B., Keig, D. and Wilkinson, T. (2019), "Student investment groups: enhancing the liberal arts experience", Managerial Finance, Vol. ahead-of-print No. ahead-of-print.

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