Richard Thakor

Richard Thakor

Assistant Professor


  • Ph.D. 2016
    Financial Economics, Massachusetts Institute of Technology (MIT)
  • M.S. 2015
    Management Research, Massachusetts Institute of Technology (MIT)
  • MSc 2008
    Finance and Economics, London School of Economics
  • B.A. 2007
    Economics and Psychology, Washington University in St. Louis


  • Financial Institutions
  • Healthcare Finance
  • R&D Investments
  • Corporate Finance

Selected Works & Activities.

  • Journal Articles
    The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis (with Nittai Bergman and Rajkamal Iyer). Forthcoming, The Review of Financial Studies
  • Journal Articles
    Customers and Investors: A Framework for Understanding the Evolution of Financial Institutions (with Robert C. Merton). Journal of Financial Intermediation 39 (July), 4-18 (2019)
  • Journal Articles
    Risk and Reward in the Orphan Drug Industry (with Andrew W. Lo). The Journal of Portfolio Management 45(5), 30-45 (2019)
  • Journal Articles
    Just How Good an Investment is the Biopharmaceutical Sector? (with Nicholas Anaya, Yuwei Zhang, Christian Vilanilam, Kien Wei Siah, Chi Heem Wong, and Andrew W. Lo). Nature Biotechnology 35 (12), 1149–1157 (2017)
  • Working Papers
    Liquidity Windfalls and Reallocation: Evidence from Farming and Fracking
  • Working Papers
    Competition and R&D Financing: Evidence from the Biopharmaceutical Industry (with Andrew W. Lo)
  • Working Papers
    Sharing R&D Risk in Healthcare via FDA Hedges (with Adam Jørring, Andrew W. Lo, Tomas J. Philipson, and Manita Singh)
  • Journal Articles
    Short-termism, Managerial Talent, and Firm Value. Forthcoming, The Review of Corporate Finance Studies
  • Working Papers
    Optimal Financing for R&D-intensive Firms (with Andrew W. Lo)
  • Working Papers
    Trust in Lending (with Robert C. Merton)
  • Working Papers
    Do mandatory disclosure requirements for private firms increase the propensity of going public?
  • Working Papers
    IPO Peer Effects (with Cyrus Aghamolla)
  • Teaching:

    • FINA 4221 Principles of Corporate Finance (Undergraduate)
    • FINA 6241 Corporate Financial Analysis and Decisions (MBA)
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