Professor Smidt's interests are in finance, managerial economics, and market microstructure. He is a co-author of textbooks on capital budgeting, corporate finance, and statistical decision theory. He has also conducted research on the stock market, on commodity futures markets, and on electric-rate regulation. He has served as chief of party to Johnson project at Middle East Technical University in Ankara, and as associate director of the Securities and Exchange Commission's Institutional Investor Study. During 1993-94, he served as founding dean of the School of Business at Koç University in Istanbul.