Richard T. Thakor

University of Minnesota - Carlson School of Management

Assistant Professor of Finance

19th Avenue South

Minneapolis, MN 55455

United States

  • University of Minnesota - Carlson School of Management

SCHOLARLY PAPERS

15

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2,504

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Scholarly Papers (15)

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1.

A Theory of Efficient Short-Termism

Number of pages: 63 Posted: 12 Aug 2016
Richard T. Thakor
University of Minnesota - Carlson School of Management
Downloads 440 (61,466)

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Short-termism, Internal Governance, Payback, Capital Budgeting, Project Choice

2.

Competition and R&D Financing: Evidence from the Biopharmaceutical Industry

Downloads 372 ( 75,012)

Competition and R&D Financing: Evidence from the Biopharmaceutical Industry

MIT Sloan Research Paper No. 5140-15
Number of pages: 49 Posted: 25 Jan 2015 Last Revised: 12 Feb 2018
Richard T. Thakor and Andrew W. Lo
University of Minnesota - Carlson School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 353 (79,064)

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Healthcare Finance; Pharmaceutical Industry; Biotechnology Industry; Capital Structure; R&D Investments; Competition; Innovation

Competition and R&D Financing Decisions: Theory and Evidence from the Biopharmaceutical Industry

NBER Working Paper No. w20903
Number of pages: 69 Posted: 02 Feb 2015 Last Revised: 03 Feb 2015
Richard T. Thakor and Andrew W. Lo
University of Minnesota - Carlson School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 19 (520,654)

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3.

Customers and Investors: A Framework for Understanding Financial Institutions

Downloads 351 ( 80,215)

Customers and Investors: A Framework for Understanding Financial Institutions

MIT Sloan Research Paper No. 5137-15
Number of pages: 56 Posted: 05 Jun 2015 Last Revised: 02 May 2016
Robert C. Merton and Richard T. Thakor
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Minnesota - Carlson School of Management
Downloads 333 (84,678)

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Customers, investors, credit risk, financial intermediaries, real-world financial contracts, information-insensitivity, financial crises

Customers and Investors: A Framework for Understanding Financial Institutions

NBER Working Paper No. w21258
Number of pages: 57 Posted: 15 Jun 2015
Robert C. Merton and Richard T. Thakor
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Minnesota - Carlson School of Management
Downloads 18 (526,778)

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4.

Sharing R&D Risk in Healthcare via FDA Hedges

Downloads 323 ( 88,568)

Sharing R&D Risk in Healthcare via FDA Hedges

MIT Sloan Research Paper No. 5194-17
Number of pages: 51 Posted: 03 Apr 2017 Last Revised: 13 Apr 2017
Adam Jørring, Andrew W. Lo, Tomas Philipson, Manita Singh and Richard T. Thakor
Boston College - Carroll School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Chicago, Goldman Sachs and University of Minnesota - Carlson School of Management
Downloads 316 (90,182)

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Healthcare Finance, R&D Investments, Drug Development, FDA Approval, Idiosyncratic Risk, Risk sharing, Hedging

Sharing R&D Risk in Healthcare Via Fda Hedges

NBER Working Paper No. w23344
Number of pages: 51 Posted: 01 May 2017 Last Revised: 07 Jun 2017
Adam Jørring, Andrew W. Lo, Tomas Philipson, Manita Singh and Richard T. Thakor
Boston College - Carroll School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Chicago, Goldman Sachs and University of Minnesota - Carlson School of Management
Downloads 7 (595,391)
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5.

Investment Opportunities, Free-Cash-Flow, and the Market Values of Foreign and Domestic Cash Holdings

Number of pages: 38 Posted: 26 Sep 2013 Last Revised: 17 Apr 2014
Richard T. Thakor
University of Minnesota - Carlson School of Management
Downloads 316 (90,408)

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Cash Holdings, Repatriation Tax, Free Cash Flow, Investment Opportunities

6.

Trust in Lending

Downloads 195 (147,837)

Trust in Lending

MIT Sloan Research Paper No. 5524-18
Number of pages: 59 Posted: 15 Jul 2018 Last Revised: 02 Oct 2018
Richard T. Thakor and Robert C. Merton
University of Minnesota - Carlson School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 171 (166,496)

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Trust, Banks, Non-banks, Fintech, Lending, Financial Intermediation, Credit Market, Financial Crisis

Trust in Lending

NBER Working Paper No. w24778
Number of pages: 59 Posted: 13 Jul 2018
Richard T. Thakor and Robert C. Merton
University of Minnesota - Carlson School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 24 (490,130)
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7.

Optimal Financing for R&D-Intensive Firms

Downloads 132 (206,298)

Optimal Financing for R&D-Intensive Firms

MIT Sloan Research Paper No. 5240-17
Number of pages: 41 Posted: 11 Sep 2017 Last Revised: 20 Aug 2018
Richard T. Thakor and Andrew W. Lo
University of Minnesota - Carlson School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 120 (222,914)

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R&D Investments, Innovation, Capital Structure, Cash Holdings, Mechanism Design

Optimal Financing for R&D-Intensive Firms

NBER Working Paper No. w23831
Number of pages: 62 Posted: 18 Sep 2017
Richard T. Thakor and Andrew W. Lo
University of Minnesota - Carlson School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 12 (564,216)
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8.

Customers and Investors: A Framework for Understanding the Evolution of Financial Institutions

Journal of Financial Intermediation, Forthcoming, MIT Sloan Research Paper No. 5358-18
Number of pages: 54 Posted: 18 Mar 2018 Last Revised: 17 May 2018
Robert C. Merton and Richard T. Thakor
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Minnesota - Carlson School of Management
Downloads 125 (215,273)

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Customers, Investors, Credit Risk, Financial Intermediaries, Real-World Financial Contracts, Information-Insensitivity

9.

Find and Replace: R&D Investment Following the Erosion of Existing Products

Harvard Business School Entrepreneurial Management Working Paper No. 19-058
Number of pages: 66 Posted: 17 Sep 2018 Last Revised: 05 Dec 2018
Joshua Krieger, Xuelin Li and Richard T. Thakor
Harvard Business School, University of Minnesota - Twin Cities, Carlson School of Management and University of Minnesota - Carlson School of Management
Downloads 59 (342,821)

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R&D Investments, Drug Development, Product Shocks, M&A, Biopharmaceutical Industry, FDA

10.

Risk and Reward in the Orphan Drug Industry

MIT Sloan Research Paper No. 5582-18
Number of pages: 26 Posted: 16 Oct 2018
Andrew W. Lo and Richard T. Thakor
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Minnesota - Carlson School of Management
Downloads 52 (363,983)

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Risk, Return, Index, Biopharmaceutical Industry, Orphan Drugs, Drug Development

11.

Sharing R&D Risk in Healthcare via FDA Hedges

Becker Friedman Institute for Research in Economics Working Paper No. 2017-01
Number of pages: 51 Posted: 07 Apr 2017 Last Revised: 17 Apr 2017
Adam Jørring, Andrew W. Lo, Tomas Philipson, Manita Singh and Richard T. Thakor
Boston College - Carroll School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Chicago, Goldman Sachs and University of Minnesota - Carlson School of Management
Downloads 45 (386,868)

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Healthcare Finance, R&D Investments, Drug Development, FDA Approval, Idiosyncratic Risk, Risk sharing, Hedging

12.

The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis

Downloads 43 (393,931)

The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis

Number of pages: 48 Posted: 16 May 2017
Nittai Bergman, Rajkamal Iyer and Richard T. Thakor
Tel Aviv University, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Minnesota - Carlson School of Management
Downloads 41 (409,102)

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Financial Crises, Financial Accelerator, Cash-in-the-Market Pricing, Fiscal Multiplier

The Effect of Cash Injections: Evidence from the 1980s Farm Debt Crisis

NBER Working Paper No. w23546
Number of pages: 49 Posted: 26 Jun 2017
Nittai Bergman, Rajkamal Iyer and Richard T. Thakor
Tel Aviv University, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Minnesota - Carlson School of Management
Downloads 2 (633,141)
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13.

Liquidity Windfalls and Reallocation: Evidence from Farming and Fracking

Number of pages: 70 Posted: 31 Dec 2016 Last Revised: 07 Jun 2018
Richard T. Thakor
University of Minnesota - Carlson School of Management
Downloads 42 (397,444)

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Misallocation, Reallocation, Productivity, Liquidity, Financial Constraints, Fracking, Agriculture, Small Business Finance, Asset Values

14.

Financial Accelerator at Work: Evidence from Corn Fields

NBER Working Paper No. w21086
Number of pages: 49 Posted: 13 Apr 2015 Last Revised: 24 Apr 2015
Nittai Bergman, Rajkamal Iyer and Richard T. Thakor
Tel Aviv University, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Minnesota - Carlson School of Management
Downloads 9 (558,898)

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15.

Just How Good an Investment is the Biopharmaceutical Sector?

Nature Biotechnology 35 (12), 1149-1157 (2017)
Posted: 22 May 2018
Richard T. Thakor, Nicholas Anaya, Yuwei Zhang, Christian Vilanilam, Kien Wei Siah, Chi Heem Wong and Andrew W. Lo
University of Minnesota - Carlson School of Management, Independent, Independent, Independent, Massachusetts Institute of Technology (MIT), Massachusetts Institute of Technology (MIT) and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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Biotechnology, Pharmaceuticals, Drug Development, Health Care Economics, Business Strategy in Drug Development, Risk