Richard T. Thakor

Richard T. Thakor serves as Associate Professor of Finance at the University of Minnesota's Carlson School of Management, where he also coordinates the undergraduate Honors Program. He maintains active research affiliations with the MIT Laboratory for Financial Engineering and the WFA Center for Finance and Accounting Research at Washington University in St. Louis, demonstrating his integrated role in academic finance networks.

His educational foundation includes a Ph.D. in Financial Economics (2016) and M.S. in Management Research (2015) from MIT, an MSc in Finance and Economics (2008) from the London School of Economics, and a B.A. in Economics and Psychology (2007, summa cum laude) from Washington University in St. Louis. Prior to doctoral studies, he gained industry experience as a Derivatives Trading Analyst in investment management.

Thakor's research program centers on empirical and theoretical corporate finance with distinctive expertise in healthcare finance, R&D investments, and financial institution dynamics. His work examines how financial frictions affect firm innovation processes and healthcare outcomes, frequently employing collaborations with leading scholars like Robert C. Merton. Current investigations include credit supply impacts on hospital mortality, R&D risk-sharing mechanisms through FDA hedges, and innovative bond structures for health interventions.

Analysis of his publication trajectory reveals consistent focus on finance-healthcare intersections, particularly in biopharmaceutical financing. His articles in top journals like American Economic Review and Management Science demonstrate methodological rigor while addressing real-world problems such as drug development financing challenges and the effects of financial liberalization on medical innovation.

• Poets & Quants Top 50 Undergraduate Business Professors of 2024
• Multiple teaching awards across undergraduate and MBA programs

Professor Thakor advises PhD and Master's students while teaching corporate finance courses at all academic levels. His research benefits from institutional support through MIT LFE and WFA-CFAR affiliations, which facilitate collaborations on projects examining healthcare economics and financial engineering solutions. Current working papers investigate healthcare cost externalities, labor market frictions in innovation, and bond market effects on R&D investment.

He actively contributes to academic discourse through co-authoring the textbook Principles of Finance with Bodie and Merton, and maintains leadership in the Honors Program where he shapes curriculum for high-achieving undergraduates. His ongoing projects continue to bridge theoretical finance with practical healthcare applications, maintaining visibility through Google Scholar and SSRN platforms.