Robert L. McDonald

Robert L. McDonald is the Gaylord Freeman Distinguished Chair in Banking and Professor of Finance at the Kellogg School of Management, Northwestern University. He has been a faculty member since 1984, serving as Finance Department Chair (1991-1994), Senior Associate Dean for Faculty and Research (2013-2016), and holds editorial roles in top journals. His research focuses on corporate finance, taxation, derivatives, and option pricing theory applications. He earned a Ph.D. in Economics from MIT (1982) and BA from UNC Chapel Hill (1975).

Education: PhD, Economics, MIT (1982); BA, Economics, University of North Carolina (1975, Highest Honors).

Research interests include applications of option pricing theory to corporate decision-making, asymmetric information in capital markets, liquidity crises, and regulatory frameworks. His work bridges academic theory with real-world financial instruments and policies.

Recent articles explore liquidity crises' systemic impacts, environmental activism's financial effects, and retirement savings allocation strategies. He has authored influential textbooks like Derivatives Markets and Fundamentals of Derivatives Markets.

• Awards: Graham & Dodd Scroll, Smith Breeden Prize, Sidney J. Levy Teaching Award (2x)
• Editorial Roles: Former Co-Editor of Review of Financial Studies, Board Member of Journal of Finance and Journal of Financial and Quantitative Analysis
• Professional Service: Research Associate at NBER, Former Director of American Finance Association

His work heavily influences financial regulation discussions, notably analyzing AIG's 2008 collapse and proposing contingent capital structures. He advises on policy matters related to market stability and investor behavior.