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Raghavendra Rau

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Raghavendra Rau

Sir Evelyn de Rothschild Professor of Finance

MBA (IIM Bangalore), MSc, PhD (INSEAD)

Professor Rau is the Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School. He is also a past president of the European Finance Association, and a past editor of Financial Management. He is a founder and director of the Cambridge Centre for Alternative Finance (CCAF) and a member of the Cambridge Corporate Governance Network (CCGN).

Research interests

How investors and firms acquire and use information.

Subject group: Finance

Previous appointments

Professor Rau has taught at a number of universities around the world, including the Institut d’Etudes Politiques de Paris (Sciences PO), Université Paris-Dauphine, Purdue University, the University of California at Los Angeles and most recently, the University of California at Berkeley.

Professional experience

Professor Rau was Principal at Barclays Global Investors, then the largest asset manager in the world, in San Francisco from 2008-2009. He is an Associate Editor of the Journal of Corporate Finance, the Journal of Banking and FinanceFinancial Review, the Quarterly Journal of Finance, among others. His research has frequently been covered by the popular press including the New York Times, the Financial Times, the Wall Street Journal, and the Economist, among others.

Awards & honours

  • FMA Competitive Paper in Corporate Finance Award for the paper “Do compensation consultants enable higher CEO pay? New evidence from recent disclosure rule changes”, 2015
  • Ig Nobel Prize in Management for the paper “What doesn’t kill you will only make you more risk-loving: early life disasters and CEO behavior”, 2015
  • International Finance & Banking Society best paper in conference award for the paper “What doesn’t kill you will only make you more risk-loving: early life disasters and CEO behavior”, 2015
  • Keynes Senior Fellowship, 2014
  • Club 7 Member, Haas School of Business, University of California at Berkeley (for teaching excellence, based on student evaluations), 2009, 2010, 2018
  • The Chinese Finance Association Best Paper in Corporate Finance Award, 2008
  • Runner-Up, Salgo-Noren Teaching Award for Outstanding MBA Teacher of the Year, Purdue University, 2007
  • Dean’s Outstanding MBA Core Course Teaching Award, Purdue University, 2005, 2007
  • Institute for Quantitative Research in Finance (Q Group) Award, 2003
  • Chicago Quantitative Alliance Award, 2002
  • School of Management Outstanding Undergraduate Teaching Award, Purdue University, 2001
  • John and Mary Willis Young Faculty Scholar Award, 2001
  • EFA Barclays Global Investor Award, 2000
  • Krannert Faculty Fellow Award, 1999
  • FMA “Best of the Best” Award, 1996
  • FMA Competitive Award for Business Finance, 1996
  • Indian Institute of Management Merit Scholarship, 1988
  • Delhi University Merit Scholarship, 1987
  • National Talent Merit Scholar, India, 1982

Selected publications

Here are a selection of Raghavendra Rau’s publications. Please see the “Selected publications” tab above for a more comprehensive list.

Cheung, Y., Rau, P.R. and Stouraitis, A. (2021) “What determines the return to bribery? Evidence from corruption cases worldwide.” Management Science (available online via the SSRN) (published online Dec 2020)

Dai, Y., Rau, P.R., Stouraitis, A. and Tan, W. (2020) “An ill wind? Terrorist attacks and CEO compensation.” Journal of Financial Economics, 135(2): 379-398 (DOI: 10.1016/j.jfineco.2019.06.005) (available online via the SSRN)

Chu, J., Faasse, J. and Rau, P.R. (2018) “Do compensation consultants enable higher CEO pay? A disclosure rule change as a separating device.” Management Science, 64(10): 4915-4935 (DOI: 10.1287/mnsc.2017.2845) (available online via the SSRN)

Bernile, G., Bhagwat, V. and Rau, P.R. (2017) “What doesn’t kill you will only make you more risk-loving: early-life disasters and CEO behavior.” Journal of Finance, 72(1): 167–206 (DOI: 10.1111/jofi.12432) (available online via the SSRN)

Mola, S., Rau, P.R. and Khorana, A. (2013) “Is there life after the complete loss of analyst coverage?” The Accounting Review, 88(2): 667-705 (DOI: 10.2308/accr-50330)

Rau, P.R. and Xu, J. (2013) “How do ex ante severance pay contracts fit into optimal executive incentive schemes?” Journal of Accounting Research, 51(3): 631-671 (DOI: 10.1111/joar.12001)

Many of Professor Rau’s papers are available via the Social Science Research Network.

Journal articles

Rau, P.R. and Vermaelen, T. (1998) “Glamour, value and the post-acquisition performance of acquiring firms.” Journal of Financial Economics, 49(2): 223-253

Rau, P.R. (2000) “Investment bank market share, contingent fee payments, and the performance of acquiring firms.” Journal of Financial Economics, 56(2): 293-324

Cooper, M.J., Dimitrov, O. and Rau, P.R. (2001) “A rose.com by any other name.” Journal of Finance, 56(6): 2371-2388

Rau, P.R. and Vermaelen, T. (2002) “Regulation, taxes, and share repurchases in the United Kingdom.” The Journal of Business, 75(2): 245-282

Kadiyala, P. and Rau, P.R. (2004) “Investor reaction to corporate event announcements: Underreaction or overreaction?” The Journal of Business, 77(2): 357-386

Cooper, M.J., Khorana, A., Osobov, I. and Rau, P.R. (2005) “Managerial actions in response to a market downturn: valuation effects of name changes in the dot.com decline.” Journal of Corporate Finance, 11(1-2): 319-335 (DOI: 10.1016/j.jcorpfin.2004.02.005)

Cooper, M.J., Gulen, H. and Rau, P.R. (2005) “Changing names with style: mutual fund name changes and their effects on fund flows.” Journal of Finance, 60(6): 2825-2858

Cheung, Y.-L., Rau, P.R. and Stouraitis, A. (2006) “Tunneling, propping, and expropriation: evidence from connected party transactions in Hong Kong.” Journal of Financial Economics, 82(2): 343-386

Clarke, J., Khorana, A., Patel, A. and Rau, P.R. (2007) “The impact of all-star analyst job changes on their coverage choices and investment banking deal flow.” Journal of Financial Economics, 84(3): 713-737

Bris, A., Gulen, H., Kadiyala, P. and Rau, P.R. (2007) “Good stewards, cheap talkers, or family men? The impact of mutual fund closures on fund managers, flows, fees, and performance.” Review of Financial Studies, 20(3): 953-982

Cheung, Y.L., Qi, Y.H., Rau, P.R. et al (2009) “Buy high, sell low: how listed firms price asset transfers in related party transactions.” Journal of Banking and Finance, 33(5): 914-924 (DOI: 10.1016/j.jbankfin.2008.10.002)

Cheung, Y.L., Jing, L.H., Lu, T. and Rau, P.R. (2009) “Tunneling and propping up: an analysis of related party transactions by Chinese listed companies.” Pacific-Basin Finance Journal, 17(3): 372-393

Cheung, Y.-L., Rau, P.R. and Stouraitis, A. (2010) “Helping hand or grabbing hand? Central vs. local government shareholders in Chinese listed firms.” Review of Finance, 14(4): 669-694 (DOI: 10.1093/rof/rfp024)

Rau, P.R. and Stouraitis, A. (2011) “Patterns in the timing of corporate event waves.” Journal of Financial and Quantitative Analysis, 46(1): 209-246 (DOI: 10.1017/S0022109010000694)

Rau, P.R., Bigelli, M. and Mehrotra, V. (2011) “Why are shareholders not paid to give up their voting privileges? Unique evidence from Italy.” Journal of Corporate Finance, 17(5): 1619-1635 (DOI: 10.1016/j.jcorp?n.2011.09.005)

Mola, S., Rau, P.R. and Khorana, A. (2013) “Is there life after the complete loss of analyst coverage?” The Accounting Review, 88(2): 667-705 (DOI: 10.2308/accr-50330)

Rau, P.R. and Xu, J. (2013) “How do ex ante severance pay contracts fit into optimal executive incentive schemes?” Journal of Accounting Research, 51(3): 631-671 (DOI: 10.1111/joar.12001)

Phillips, B., Pukthuanthong, K. and Rau, P.R. (2014) “Detecting superior mutual fund managers: evidence from copycats.” Review of Asset Pricing Studies, 4(2): 286-321 (DOI: 10.1093/rapstu/rau007)

Namvar, E., Phillips, B., Pukthuanthong, K. and Rau, P.R. (2016) “Do hedge funds dynamically manage systematic risk?” Journal of Banking and Finance, 64: 1-5 (DOI: 10.1016/j.jbankfin.2015.11.014)

Phillips, B., Pukthuanthong, K. and Rau, P.R. (2016) “Past performance may be an illusion: performance, flows, and fees in mutual funds.” Critical Finance Review, 5(2): 351-398 (DOI: 10.1561/104.00000032) (available online via the SSRN)

Rau, R. (2017) “Social networks and financial outcomes.” Current Opinion in Behavioral Sciences, 18: 75-78 (DOI: 10.1016/j.cobeha.2017.08.010)

Rau, R. (2017) “Executive compensation.” Foundations and Trends in Finance, 10(3-4): 181-362 (DOI: 10.1561/0500000046)

Helmers, C., Patnam, M. and Rau, P.R. (2017) “Do board interlocks increase innovation? Evidence from a corporate governance reform in India.” Journal of Banking and Finance, 80: 51-70 (DOI: 10.1016/j.jbankfin.2017.04.001)

Bernile, G., Bhagwat, V. and Rau, P.R. (2017) “What doesn’t kill you will only make you more risk-loving: early-life disasters and CEO behavior.” Journal of Finance, 72(1): 167–206 (DOI: 10.1111/jofi.12432) (available online via the SSRN)

Phillips, B., Pukthuanthong, K. and Rau, P.R. (2018) “Size doesn’t matter: diseconomies of scale in the mutual fund industry revisited.” Journal of Banking and Finance, 64(10): 4915-4935 (DOI: 10.1016/j.jbankfin.2017.12.005)

Chu, J., Faasse, J. and Rau, P.R. (2018) “Do compensation consultants enable higher CEO pay? A disclosure rule change as a separating device.” Management Science, 64(10): 4915-4935 (DOI: 10.1287/mnsc.2017.2845) (available online via the SSRN)

Glushkov, D., Khorana, A., Rau, P.R. and Zhang, J. (2018) “Why do firms go public through debt instead of equity?” Critical Finance Review, 7(1): 85-110 (DOI: 10.1561/104.00000057)

Dai, Y., Rau, P.R., Stouraitis, A. and Tan, W. (2020) “An ill wind? Terrorist attacks and CEO compensation.” Journal of Financial Economics, 135(2): 379-398 (DOI: 10.1016/j.jfineco.2019.06.005) (available online via the SSRN)

Rahaman, M.M., Rau, P.R. and Al Zaman, A. (2020) “The effect of supply chain power on bank financing.” Journal of Banking and Finance, 114: 105801 (DOI: 10.1016/j.jbankfin.2020.105801)

An, J. and Rau, R. (2021) “Finance, technology and disruption.” European Journal of Finance (DOI: 10.1080/1351847X.2019.1703024) (published online Dec 2019)

Betzer, A., Limbach, P., Rau, P.R. and Schürmann, H. (2021) “Till death (or divorce) do us part: early-life family disruption and investment behavior.” Journal of Banking and Finance, 124: 106057 (DOI: 10.1016/j.jbankfin.2021.106057) (also available online via the SSRN)

Cheung, Y., Rau, P.R. and Stouraitis, A. (2021) “What determines the return to bribery? Evidence from corruption cases worldwide.” Management Science (available online via the SSRN) (published online Dec 2020)

Cheung, Y., Rau, P.R., Stouraitis, A. and Tan, W. (2021) “Does the market understand the ex ante risk of expropriation by controlling shareholders?” Journal of Corporate Finance, 68: 101946 (DOI: 10.1016/j.jcorpfin.2021.101946)

Diversity and pricing

Gender diversity boosts underpricing in IPOs due to higher institutional investor demand for diverse boards, finds new study co-authored at Cambridge Judge…

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Nature and nurture

Childhood disruption through parents' divorce or death is a "nurture"-related factor affecting risk taking of investment professionals, says study in Journal of…

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Examining bribery

New study co-authored by Professor Raghu Rau finds that $1 in bribes is linked to $6 to $9 increases in the value…

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Trust in finance

Trust among US finance professionals has declined far more sharply than in the general population, finds study that has implications for coronavirus…

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Fintech flexes its muscles

Fintech is deeply impacting the finance world, challenging orthodoxies and offering customers innovative ways to manage and maximise their finances. CJBS Faculty…

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Ordeal & risk

Childhood trauma from a parent's death or divorce causes mutual fund managers to be more risk averse later in life, finds a…

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Cambridge Bitcoin Electricity Consumption Index (CBECI)

The Cambridge Centre for Alternative Finance launches a new real-time index tracking the total electricity consumption of the Bitcoin network. The Cambridge…

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Alternative finance in Europe

In 2017, the alternative finance market throughout Europe (including the UK) grew by 36 per cent to €10.44 billion, predominantly in the…

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Debt versus equity

Study co-authored by Professor Raghavendra Rau of Cambridge Judge Business School examines why some firms go public through initial public debt offerings…

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Executive pay survey

New research by Professor Raghavendra Rau of Cambridge Judge looks at CEO compensation theory and practice, drawing on academic literature over many…

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Terrorism and CEO pay

CEOs at firms near terrorist attacks earn 8.8 per cent "compensation premium" over CEOs employed far from attacks, finds new study co-authored…

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Crowdfunding struggles in emerging markets

Developing markets are lagging in crowdfunding, finds study at Cambridge Judge Business School. Regulation and corruption control are key factors in boosting…

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Alternative finance growth in the Americas

The online alternative finance market continues to grow in the US, Canada and Latin America, rising 23 per cent in 2016 to…

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Company board connections

Companies increase both R&D and patenting activity if they have directors who 'interlock' with other companies, says new study co-authored at Cambridge…

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Jargon-free corporate finance

A new Short Introduction to Corporate Finance book by Cambridge Judge Professor Raghavendra Rau simplifies an often intimidating subject into six basic…

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‘Serial acquirers’ (like Olympic runners) can be predicted in advance

Serial company acquirers, like elite Olympic runners but unlike serial killers, can easily be profiled in advance, finds new academic study co-authored…

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CEO pay paper award

Research on the link between compensation consultants and higher CEO pay wins Corporate Finance award from the Financial Management Association. A research…

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CEO study co-authored at Cambridge Judge wins “Ig Nobel” award

Research on the impact of childhood disasters on CEO risk-taking wins Ig Nobel Management Prize, awarded to achievements that make people laugh…

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Alternative finance: all grown up and coming to a business near you

One of the less predictable consequences of the financial crisis has been the growth of alternative finance providers, particularly online platforms. These…

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European alternative finance market could top €7b in 2015

The European alternative finance market grew 144 per cent last year to €2,957 million. The European online alternative finance market grew by…

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Stale illusion

Mutual funds exploit through higher fees investors who chase 'stale returns'. Investors fail to distinguish relevant and stale components of fund performance,…

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Compensation consultants lead to higher CEO pay

Consultants a 'justification device' for higher executive pay, says study at Cambridge Judge Business School. A study of more than 1,000 US…

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‘Copycatting’ doesn’t work in the mutual fund world

Superior fund managers can’t be identified in advance, says research co-authored by Cambridge Judge Business School finance professor Suppose you want to…

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Why a disaster may not be disastrous

Research shows that the behaviour of business leaders could be directly linked to their experiences in childhood. What makes a great leader?…

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Six reasons why … star performers are bad for the bottom line

Everyone – shareholders, board members, even colleagues – loves a star performer. But how many deliver on the top hire promise? CJBS…

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Six reasons why … good bankers will always turn bad

They want to be good, they promise to be good, but will they be good? Cambridge Judge Business School faculty Professor Raghavendra…

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European Finance Association AGM for Cambridge

Cambridge Judge Business School is to host the 2013 Annual General Meeting of the European Finance Association (EFA) The AGM, the 40th…

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European Finance Association Conference

40th Annual Conference to be held at Cambridge Judge Business School Cambridge Judge Business School is delighted to be hosting the 40th…

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The 2013 Behavioural Finance Forum

Can behavioural finance explain fund choices? Professor Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance, attended the 2013 Behavioural Finance Forum…

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Finance is less about profits and more about value

Cambridge Judge Business School's Executive Education programme, the Financial Management Programme of Achievement, targets those switching into financial positions or those who've…

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Yahoo Finance: Giving a CEO too many stock options can make a company perform worse

Companies that gave their CEOs the most stock options saw their share prices lag behind the industry average over the following 36…

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‘Shareholder Spring’ failed to make waves

Professor Raghavendra Rau and Dr Bang Dang Nguyen agree that the so-called 'Shareholder Spring' has proved to be a damp squib Two…

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Large bribes do not lead to greater benefits

Research led by Professor Raghavendra Rau has focused fresh light onto bribery and flies in the face of previous survey-based studies Fresh…

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Large bribes do not lead to greater benefits

Research led by Professor Raghavendra Rau has focused fresh light onto bribery and flies in the face of previous survey-based studies Fresh…

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Banks should put up or shut up

Professor Raghavendra Rau on the LIBOR rate fixing scandal that is dragging in top British, American, German and Swiss banks A leading…

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Professor Raghavendra Rau gives his opinion on Barclays Bank’s profits and bonuses live on BBC Radio Cambridgeshire

Professor Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, has been speaking on BBC Radio Cambridgeshire…

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Do the maths

The current climate is a good time to learn about finance explains Professor Raghavendra Rau Cambridge Judge Business School's Executive Education courses…

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Plain brown envelopes

Firms bribing their way to contracts underperform for up to three years before and after securing the work for which the bribe…

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CEOs are overpaid

Overconfident, highly incentivised chief executives fall short of shareholder expectations, a new study reveals Research by Cambridge Judge Business School has found…

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Investors’ Chronicle: Trapped by our past

According to a study co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, fund managers…

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BBC News Indonesia: Stories of successful artists becoming billionaires by selling digital works through crypto art

Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, comments on NFT a non-fungible token (NFT) on…

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The Washington Post: Bumble gave women more power in dating. Now the app is giving women power in the boardroom

A study by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, is featured in the article.…

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Cong Luan: The latest research on the “night go” of multinational corporations

A study on corporate bribery co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, featured…

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The Economist: Bribery pays – if you don’t get caught

A new study by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, on global corporate bribery…

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The Times: £23bn vanishes from economy as bosses put spending on hold

Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School comments on businesses' capital expenditure plans during uncertain…

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S&P Global: Fintechs, challengers keen to help distribute UK government’s coronavirus loans

Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, comments on fintech and how they can help…

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S&P Global: European P2P lending prone to mispricing and inefficiencies, new study claims

Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, comments on peer-to-peer lending platforms and says they…

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Wired: Everything and nothing is a tech company now

Raghu Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge, comments on how over the past decade many firms have…

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Portfolio Adviser: Asking fund managers sensitive questions about their childhood

A study co-authored by Raghu Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, found that fund managers…

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Investment Europe: ‘Tell me about your childhood’ may become required RFP question

Childhood trauma from a parent’s death or divorce causes mutual fund managers to be more risk averse later in life, finds a…

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The Irish Times: A fund manager’s childhood can tell a lot about their attitude to risk

A study co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, explores how traumatic experiences…

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Institutional Investor: Broken homes produce more cautious fund managers

Traumatic experiences in childhood can affect the behaviour of professional investors, says a study co-authored by Raghavendra Rau, Sir Evelyn de Rothschild…

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Bloomberg: The stockpop from a crypto rebrand doesn’t last

A paper co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, is cited in the…

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Business Because: From blockchain to bitcoin, the cryptocurrency craze is gripping business schools

Business schools now offer a range of courses in cryptocurrencies and other financial technologies such as crowdfunding or robo-wealth-managers. Cambridge Judge Business…

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CNBC: Five predictions for digital currencies in 2018

Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, comments on a study he co-authored in 2000…

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Financial Times: Long Island Iced Tea’s blockchain pivot is the height of mania

A research paper co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, is featured in…

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Money Week: What’s in a name?

Can changing the name of a company bring hefty returns? It sure can, as per the recent example of Bioptix, a US…

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This Cambridge Life: The man (with the hat) studying risk-taking and our changing use of money

Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, shares his insights about academic career, finance sector…

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True Viral News: One thing the bitcoin frenzy has in common with the dot-com bubble

Can changing a name boost company’s stock price? According to Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge…

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Marketwatch: Here’s one thing the bitcoin frenzy has in common with the dot-com bubble

Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, says firms that put the word 'blockchain' or…

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Le Monde: Leaders, disasters and the sense of risk

An article about business leaders and how the personal story can influence their strategic decisions. A study co-authored by Raghavendra Rau, Sir…

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CNBC: Some closed funds ready to open for business again

A study led by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, is featured in the…

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Crowdfund Insider: The future of finance tackled at an annual event in Cambridge

Innovation in alternative finance and what the future looks like was discussed at the second annual conference recently held by the Cambridge…

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Cambridge Business Magazine: Alternative finance grows in the Americas

According to the latest report by the Cambridge Centre for Alternative Finance (CCAF) alternative finance market grew 23 per cent in the…

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Financial Review: Why being the boss could cause brain damage

A study co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, is referenced in the…

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Cambridge Business Magazine: Innovation boosted by ‘shared’ directors

The “interlocking” of corporate boards – in which directors sit on the boards of different companies at the same time – significantly…

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BBC World Service Radio: Business Matters

Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, talks about power and how leaders lose mental…

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The Atlantic: Power causes brain damage

A study co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, is referenced in the…

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Reuters: Lower CEO pay equates to higher shareholder rewards

Reuters columnist James Saft cites a study by Raghavendra Rau, Sir Evelyn de Rothschind Professor of Finance at Cambridge Judge, which found…

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ETFmatic Videoblog: Even fund managers can’t identify future outperformers

In this video blog, Professor Raghu Rau talks about whether fund managers themselves can spot talent in each other, and perhaps benefit…

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Business Because: Elite business schools are teaching MBAs about bitcoin’s blockchain

Business schools around the world are rolling out courses on blockchain to explore the topic in depth, writes Seb Murray. Cambridge Judge…

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Cambridge Business Magazine: ‘Serial acquirers’ can be predicted in advance

Serial company acquirers, like elite Olympic runners but unlike serial killers, can easily be profiled in advance, finds new academic study co-authored…

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Chief Executive: How CEOs can identify America’s most active acquirers

Serial company acquirers, like elite Olympic runners but unlike serial killers, can easily be profiled in advance, finds a new academic study…

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Business Because: Fintech: Elite business schools exploring blockchain and bitcoin

2016 has been the year of the blockchain and business schools are trying to decode the complex digital ledger, writes Seb Murray.…

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Cambridge Business Magazine: Few hedge fund managers deliver big returns and manage systemic risks

Only a few skilled hedge fund managers can consistently deliver “alpha” returns while managing systemic risk, finds study co-authored by Raghavendra Rau,…

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Cambridge Network: Study investigates hedge fund skills

Only a few skilled hedge fund managers can consistently deliver “alpha” returns while managing systematic risk, finds a new study co-authored by…

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Business Because: 10 business school experts on how bitcoin’s blockchain will transform financial services

Experts from ten business schools share their thoughts on how the blockchain could revolutionise finance. Raghu Rau, Sir Evelyn de Rothschild Professor…

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Business Because: Blockchain: UK b-school duo partners Citi, KPMG, CME Group to launch fintech courses

Cambridge University Judge Business School to launch new courses focusing on fintech over the next few years. “We’re seeing a lot of…

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Financial Times: Bonuses are bad for bankers and even worse for banks

FT Management Editor Andrew Hill’s column looks at bank bonuses and their impact. The article features research on money and trust by…

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Reuters: Thomson Reuters collaborates with the University of Cambridge, Tsinghua University and the University of Sydney on Asia Pacific’s first alternative finance benchmarking survey

The Cambridge Centre for Alternative Finance at Cambridge Judge has joined forces with the Tsinghua University Graduate School of Shenzhen and the…

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Crowdfundinsider: Cambridge Centre for Alternative Finance and partner universities launch the 2015 Asia-Pacific alternative finance benchmarking study

The Cambridge Centre for Alternative Finance at Cambridge Judge has joined forces with the Tsinghua University Graduate School of Shenzhen and the…

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Business Weekly: Bank of England engages with Cambridge ‘brains’

Bank of England COO Charlotte Hogg and CIO John Finch came to Cambridge to discuss how to build effective markets. The duo…

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Ideas for leaders: The connection between disasters and less risk-averse CEOs

A study co-authored by Raghu Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge, investigated how CEOs surviving traumatic childhood…

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The Independent on Sunday: Can this subject really be taught?

The Independent asks business experts and academics – is there a point in teaching ethical behaviour. Raghavendra Rau, Sir Evelyn de Rothschild…

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The Economic Times: Meet Cambridge economist Raghavendra Rau: The Ig Nobel Prize winner

Last month at Harvard University, the 25th Annual Ig Nobel Prize Ceremony took place. Ig Nobel is a light-hearted award for work…

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News Asia TV: Risk appetite

News Asia TV reports on the 25th Annual Ig Nobel Prize Ceremony and the winners in the management category: Raghavendra Rau, Gennaro…

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The Times (Shreveport): The consequences of waiting

Further coverage of the research on the impact of childhood disasters on CEO risk-taking that won the “Ig Nobel” Management Prize. The…

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The New York Times: Bee stings, research that makes you go ‘huh’? win Ig Nobels

Research on the impact of childhood disasters on CEO risk-taking wins the “Ig Nobel” Management Prize, awarded to achievements that make people…

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The Christian Science Monitor: How CEO pay exploded

The higher-paid CEOs are not always better for the business according to the research co-authored by Raghavendra Rau, Sir Evelyn de Rothschild…

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The Huffington Post: The outrageous ascent of CEO pay

The higher-paid CEOs are not always better for the business according to the research co-authored by Raghavendra Rau, Sir Evelyn de Rothschild…

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The New York Times: Why some start-ups are called tech companies and others are not

Jim Kerstetter looks at the new generation of tech start-ups and what are the differences between tech and non-tech companies. Raghavendra Rau,…

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City AM: How crowdfunding will revolutionise R&D: What platforms offer the world’s most innovative businesses

Over the past decade, donation-based crowdfunding has played a reasonably prominent role in helping to fund technological development, writes Harriet Green in…

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Thinkers: In conversation with Raghavendra Rau

In an interview for the latest Thinkers issue, Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School,…

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Financial Times: European market for online alternative finance surges

The European market for online alternative finance grew by 144 per cent last year to almost €3bn and could hit €7bn this…

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Financial Times: The active fund management model is not fit for purpose

Mutual funds are exploiting "unsophisticated"” mutual fund investors who chase "stale returns" because they're unable to distinguish between positive new results and…

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The Economist: Mutton dressed as lamb

Like celebrities using plastic surgery or Botox, a study co-authored by Professor Raghavendra Rau of Cambridge Judge Business School finds that mutual…

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Crowdfund Insider: The University of Cambridge launches Europe wide Alternative Finance Benchmarking Survey: twelve major industry associations and EY collaborate

The study will be the largest to date on crowdfunding, peer-to-peer lending and other forms of alternative finance in Europe, which aims…

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Cambridge News: A tale of two financial strategies

Further coverage of the research by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, on 'copycat'…

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The Economist: Executive compensation: If you hire them, pay will come

The research on executive pay by Cambridge Judge’s Professor Raghu Rau, Dr Jenny Chu and PhD Jonathan Faasse is featured second time…

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The Huffington Post: If Pimco were a country, it would be the most unequal place on the planet

Ben Walsh looks at the pay inequality at the largest bond-fund manager in US, where the former top executives – Bill Gross…

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The Times: Hiring pay ‘experts’ brings rich rewards for chief executives

Further coverage of research by Cambridge Judge's Professor Raghavendra Rau, Dr Jenny Chu and PhD candidate Jonathan Faasse. The research shows that…

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The Economist: If you hire them, pay will come

A new research shows that companies hire compensation consultants ‘as a justification device for higher executive pay.’ The research by Cambridge Judge…

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New York Times: Dealbook: More transparency, more pay for CEOs

A research study by Cambridge Judge Business School's Dr Jenny Chu, Jonathan Faasse and Professor Raghavendra Rau, shows "a direct link between…

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Financial Times: Copycat fund managers cannot beat the market

Investment columnist John Authers investigates why some fund managers copycat and features the research co-authored by Raghavendra Rau, Sir Evelyn de Rothschild…

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The Economist: Curiosity killed the copycat

‘Copycatting’ doesn’t work in the mutual funds, says research co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge…

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The Wall Street Journal: Even stock-pickers can’t pick good stock-pickers

The research co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, found that ‘copycat funds…

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Financial Times: Copycats are an unsuccessful breed

Superior fund managers can’t be identified in advance, says research co-authored by Cambridge Judge Business School finance professor Raghavendra Rau. According to…

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The Harvard Law School Forum on Corporate Governance & Financial Regulation: New evidence on compensation consultants and CEO pay

In 2013, CEOs in S&P 500 firms were paid, on average, over 200 times the average worker's salary in their firms. To…

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Cambridge News: Do bosses benefit from disasters?

The research co-authored by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance, shows that CEOs who experienced a number of moderate…

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Phys.org: Research shows the behaviour of business leaders could be directly linked to their experiences in childhood

The new research suggests that experiencing a natural disaster at first hand during your early childhood can have a profound impact on…

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BizEd Magazine: Higher pay, lower returns

The more executives are paid, the more overconfident they tend to become. As a result these CEO invest in riskier projects, approve…

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Financial Times: The economic rationale for tenured professors

Raghu Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, looks at the economics of tenured academic positions…

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London Evening Standard: Anthony Hilton: Big bonuses are really no incentive

The newspaper investigates how big bonuses impact executives' performance. The research by Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at…

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Bloomberg Business Week: The most daring CEOs were forged in fire (and flood and earthquake)

Bloomberg features the research of Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, and colleagues, into…

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Blog: Reputability: Big bonuses lead to poorer performance, says new research

Anthony Fitzsimmons looks at executives salaries and how this impact their performance. Author refers to the research by Raghavendra Rau, Sir Evelyn…

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BBC World Service: Business matters

Roger Hearing interviews Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at CJBS, about executive pay. Raghu says that ‘paying someone…

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The Wall Street Journal: Lessons from the bull market

WSJ investigates what investors should do in order to avoid errors in stock market that can cost a lot. The magazine refers…

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Sunday posts: Education for employment: what if you didn’t go to a ‘core school’?

In his blog Supriyo Chaudhuri writes about competition amongst students who want to study in elite universities and schools. Author says ‘education…

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The Coutts Index: Inside the minds of passion investors

Raghavendra Rau, the Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, comments on passion investing (classic cars, antiques…

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High Pay Centre: Free Conference: Pay for performance – does it work?

A half-day conference examining the arguments for and against performance-related pay and considering the future of the performance pay model. Our two…

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FT.com: Want an innovative idea? Don’t turn to the Ref

Finding cutting edge research is akin to discovering a rough diamond in a sea of pebbles, writes Raghu Rau, Sir Evelyn de Rothschild…

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Financial Times: Choose assets wisely to reap returns

Choosing assets shrewdly is an important skill if you hope to produce strong returns when market volatility arises. Or at least this…

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Finanzen.ch: Overconfidence makes CEOs with too many stock options perform badly

Conventional wisdom has it that paying company bosses with a lot of stock and options aligns their interests with those of shareholders…“The…

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Business Insider: Too many stock options kills CEO performance

Conventional wisdom has it that paying company bosses with a lot of stock and options aligns their interests with those of shareholders…“The…

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Quartz: Giving a CEO too many stock options can make a company perform worse

Conventional wisdom has it that paying company bosses with a lot of stock and options aligns their interests with those of shareholders.…

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Association of Business Schools: Large bribes do not lead to greater benefits

Research led by Cambridge Judge Business School academic Professor Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance, has revealed that firms…

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Handelsblatt: Where returns of more than 1000 percent are possible

Corruption is still widespread – and extremely lucrative for businesses… Cambridge researcher, Professor Raghavendra Rau, from Cambridge Judge Business School wonders why…

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Beleggingsstrategie Alfa: Outperformance is a myth

It is almost inconceivable that fund managers have consistently manage to outperform the benchmark…This enables Professor Raghavendra Rau, Professor of Finance, Cambridge…

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America Economia: Invertir o no en amigos: he ahí el dilema [To invest or not in friends, that is the question]

Ya sea por desconfianza en la economía formal o porque los lazos de sangre o la amistad son más fuertes, es aún…

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The Association of Business Schools: Banks should put up or shut up

A leading financial expert suggests that the government-commissioned Wheatley Review into the LIBOR rate rigging allegations should make the banks put their…

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Investment Europe: Banks should put up or shut up on LIBOR, says Judge School professor

Professor Raghavendra Rau at Cambridge Judge Business School says that the UK government-commissioned Wheatley Review into the LIBOR rate rigging allegations should…

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Investors Hub: How ticker symbols predict stock-market success

Facebook Inc and Shakespeare may have both gotten it wrong. The Bard of Avon certainly wasn't thinking of corporate names and ticker…

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BBC Radio 5 Live: Drive Time

Professor Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School, has been speaking on BBC Radio 5…

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Contact details

Raghavendra Rau
Cambridge Judge Business School
University of Cambridge
Trumpington Street
Cambridge CB2 1AG
UK

Tel: +44 (0)1223 761079

[email protected]

www.raghurau.com

Download Raghavendra’s papers on SSRN

CV

Download Raghavendra Rau’s CV