Professor Schallheim has been at the University of Utah since 1980 after receiving his Ph.D. in Finance from Purdue University. He also held the positions of visiting professor at Vanderbilt University (1988-89), the University of California at Berkeley (1994), and the University of Florida (2004-5).  He served as the Executive Secretary and Treasurer of the American Finance Association from 2013-2023.
Professor Schallheim has published extensively in academic journals such as the Journal of Finance, Journal of Political Economy, Review of Financial Studies, Journal of Financial Economics, Journal of Business, Journal of Financial and Quantitative Analysis, and Financial Management. His research and teaching interests are corporate finance, leasing, and stock markets in the U.S. and Japan. He is co-founder and co-organizer of the very prestigious Utah Winter Finance Conference. Professor Schallheim served as a member of the Editorial Review Board of the Journal of Equipment Lease Financing.
Professor Schallheim is an internationally known scholar in the area of equipment leasing and has published the book Lease or Buy: Principles for Sound Corporate Decision Making, Harvard Business School Press, Boston, 1994. He has served as a consultant for several corporations and government agencies . Professor Schallheim serves as a member of the Board of Directors of Milestone Bank.