Douglas W Diamond, Merton H Miller Distinguished Service Professor of Finance and Richard N Rosett Faculty Fellow, University of Chicago's Graduate School of Business, will be the Centre for Analytical Finance (CAF) Academic Fellow 2012. In that capacity, he will visit CAF during the summer research conference, and deliver a keynote speech at the conference. Diamond specialises in the study of financial intermediaries, financial crises, and liquidity. His work has appeared in notable journals such as the Journal of Financial Economics, the Journal of Finance, the Review of Economic Studies, the American Economic Review, and the Journal of Political Economy. His research has been funded with grants from the National Science Foundation and the Garn Institute of Finance.
He has taught at Yale and was a visiting professor at the Hong Kong University of Science and Technology as well as the University of Bonn. He is a research associate of the National Bureau of Economic Research and worked for the Board of Governors of the Federal Reserve System while a graduate student.
In addition to his roles as a researcher and professor, Diamond is a visiting scholar at the Federal Reserve Bank of Richmond, a position he has held since 1990, and is on the Board of Directors of the Centre for Research in Security Prices. Diamond is a former president of the American Finance Association and the Western Finance Association. He is also a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Finance Association. He joined Chicago Booth in 1979.
Diamond earned a bachelor's degree in Economics from Brown University in 1975. He earned master's degrees in 1976 and 1977 and a PhD in 1980 in Economics from Yale University.
Professor Anjan Thakor (Olin Business School, Washington University – St. Louis) will be the CAF Academic Fellow 2011. Anjan is John E. Simon Professor of Finance and Director, PhD Program, at the Olin School. He is also Research Associate, European Corporate Governance Institute (ECGI). In the course of a long and very distinguished research career, Anjan has made many contributions in several areas of research in finance and economics, including Corporate Finance, Financial Intermediation and Economics of Asymmetric Information. Recipient of many teaching as well as research awards and honors, Anjan is a past President of the Financial Intermediation Research Society (FIRS). For more information about him, please visit http://apps.olin.wustl.edu/faculty/Thakor/cv.pdf
Sheridan Titman was the CAF Academic Fellow 2010, and visited us during our summer research conference in the month of August 2010. Sheridan holds the McAllister Centennial Chair in Financial Services at The University of Texas at Austin, and is a research associate of the National Bureau of Economic Research. He is a past President of Western Finance Association, and is expected to be AFA President in the coming years.
Though Sheridan already has a long and distinguished research record, he continues to be very active in research in many areas of finance, especially corporate finance which happens to be the area of research for most of our internal finance faculty. He also works extensively with junior colleagues.
Ravi Jagannathan, Chicago Mercantile Exchange/John F Sandler Professor of Finance and a Co-Director of the Financial Institutions and Markets Research Center at Kellogg School, was the Academic Fellow for 2009. He visited CAF during July, 2009. Jagannathan’s research has received extensive coverage in advanced textbooks in finance and economics. His articles have appeared in leading academic journals, including the Journal of Political Economy, Journal of Financial Economics, Journal of Finance, and Review of Financial Studies. He has served on the editorial boards of leading academic journals, and was Executive Director, Review of Financial Studies. He is a member of the Board of Directors of the American Finance Association, and a research associate at the National Bureau of Economics Research.
Jagannathan’s association with CAF began with organising the first CAF research conference in 2004. He continues to participate in CAF conferences and research, and also sits on CAF advisory board.
Michael Brennan (UCLA Anderson and London Business School) had accepted to be CAF Academic Fellow 2008. He delivered the keynote address at the CAF flagship summer research conference this year.
Professor Brennan’s research interests include asset pricing, corporate finance, the pricing and role of derivative securities, market microstructure, and the role of information in capital markets. He has published extensively in all of these areas. He is currently working on several research topics, including the problem of asset allocation when investors face time-varying opportunity sets, initial public offerings and the allocation of control rights in the corporation, the determinants of international flows of portfolio investments, the role of convertible securities in corporate finance, and corporate hedging strategies.
A former president of the American Finance Association, he has served as editor of the Journal of Finance and was the founding editor of the Review of Financial Studies. He has consulted extensively for corporations in Canada and the US.
Raghuram Rajan is currently Eric J Gleacher Distinguished Service Professor of Finance, Graduate School of Business, University of Chicago. Until recently, he was the Economic Counselor and Director of Research, International Monetary Fund, the first finance researcher and the youngest person ever to hold this very influential research position. Among numerous honors and distinctions, he received the inaugural Fischer Black Prize awarded biannually by the American Finance Association for outstanding contributions to finance by a scholar under 40.
Professor Rajan was the force behind CAF’s birth, and drafted the concept note for CAF along with Professor Bhagwan Chowdhry. They also recruited Professor Sankar De from Haas School of Business, Berkeley, for the position of Executive Director, CAF, in 2003, and CAF was born the year after. Professor Rajan had already been deeply involved with the ISB, and was the first Area Leader in Finance during the ISB’s formative years, a position he relinquished when he moved to IMF in 2003. As CAF Academic Fellow 2007, he visited the Centre during the Summer Research Conference in August, 2007 and delivered the keynote address at the conference. CAF researchers are already working with him on a policy project of national importance.
CAF Academic Fellow 2006 -Professor Richard Roll
Richard Roll holds the Japan Alumni Chair in Finance at UCLA Anderson. He is also a principal of the consulting firm, Compensation Valuation, Inc. Other business experience includes the Boeing Company where, in the early 1960's, he worked on the 727 and wrote the operating manual for the first stage booster of the Saturn moon rocket. During 1985-87, he was a vice-president of Goldman Sachs & Co., where he founded and directed the mortgage securities research group. He has been a consultant for many corporations, law firms, and government agencies, and has served on several boards.
Professor Roll was on the faculty at Carnegie-Mellon University, The European Institute for Advanced Study of Management in Brussels, and the French business school, Hautes Etudes Commerciales, near Paris. He joined the UCLA faculty in 1976.
He has published two books and more than seventy articles in technical journals. His 1968 doctoral thesis won the Irving Fisher Prize as the best American dissertation in economics. He has won the Graham and Dodd Award for financial writing three times and the Leo Melamed Award for the best financial research by an American business school professor. Professor Roll is the past president of the American Finance Association and is a fellow of the Econometric Society. He has been an associate editor of eleven different journals in finance and economics.
CAF's first Academic Fellow (2005)- Professor Franklin Allen
A member of CAF advisory board and a finance scholar of worldwide standing, Professor Franklin Allen (Wharton) recently visited CAF as the first Academic Fellow. CAF has plans to invite distinguished academicians and corporate executives for short terms as Academic or Corporate Fellows, as the case may be. The fellows will come to the ISB to interact with the faculty and students, including working on research projects with the ISB faculty.
Professor Allen is currently the Nippon Life Professor of Finance, Professor of Economics, Co-Director, Financial Institutions Center, The Wharton School, University of Pennsylvania. He has been with the Wharton School since 1980, named Nippon Life Professor of Finance, 1994; Co-Director, Financial Institutions Center, 2000-present. He has also held visiting appointments at University of Oxford; University of Tokyo; University of Frankfurt; and Princeton University. Professor Allen was the President of the American Finance Association in the year 2000. He has received many other recognitions for his research and teaching. His research areas include corporate finance, asset pricing, and economics of information.
During his visit, he attended the inaugural meeting of CAF advisory board on August 5, delivered the keynote speech at the Summer Research Conference 2005 on August 7, and worked on a research project in law, institutions, finance, and growth in India. With his support, the Financial Institutions Center at Wharton and CAF will hold joint biennial conferences. The first conference took place in April, 2007, at Wharton School.
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Douglas W Diamond, Merton H Miller Distinguished Service Professor of Finance and Richard N Rosett Faculty Fellow, University of Chicago's Graduate School of Business, will be the Centre for Analytical Finance (CAF) Academic Fellow 2012. In that capacity, he will visit CAF during the summer research conference, and deliver a keynote speech at the conference. Diamond specialises in the study of financial intermediaries, financial crises, and liquidity. His work has appeared in notable journals such as the Journal of Financial Economics, the Journal of Finance, the Review of Economic Studies, the American Economic Review, and the Journal of Political Economy. His research has been funded with grants from the National Science Foundation and the Garn Institute of Finance.
Professor Anjan Thakor (Olin Business School, Washington University – St. Louis) will be the CAF Academic Fellow 2011. Anjan is John E. Simon Professor of Finance and Director, PhD Program, at the Olin School. He is also Research Associate, European Corporate Governance Institute (ECGI). In the course of a long and very distinguished research career, Anjan has made many contributions in several areas of research in finance and economics, including Corporate Finance, Financial Intermediation and Economics of Asymmetric Information. Recipient of many teaching as well as research awards and honors, Anjan is a past President of the Financial Intermediation Research Society (FIRS). For more information about him, please visit 
Sheridan Titman was the CAF Academic Fellow 2010, and visited us during our summer research conference in the month of August 2010. Sheridan holds the McAllister Centennial Chair in Financial Services at The University of Texas at Austin, and is a research associate of the National Bureau of Economic Research. He is a past President of Western Finance Association, and is expected to be AFA President in the coming years.
Ravi Jagannathan, Chicago Mercantile Exchange/John F Sandler Professor of Finance and a Co-Director of the Financial Institutions and Markets Research Center at Kellogg School, was the Academic Fellow for 2009. He visited CAF during July, 2009. Jagannathan’s research has received extensive coverage in advanced textbooks in finance and economics. His articles have appeared in leading academic journals, including the Journal of Political Economy, Journal of Financial Economics, Journal of Finance, and Review of Financial Studies. He has served on the editorial boards of leading academic journals, and was Executive Director, Review of Financial Studies. He is a member of the Board of Directors of the American Finance Association, and a research associate at the National Bureau of Economics Research.
Raghuram Rajan is currently Eric J Gleacher Distinguished Service Professor of Finance, Graduate School of Business, University of Chicago. Until recently, he was the Economic Counselor and Director of Research, International Monetary Fund, the first finance researcher and the youngest person ever to hold this very influential research position. Among numerous honors and distinctions, he received the inaugural Fischer Black Prize awarded biannually by the American Finance Association for outstanding contributions to finance by a scholar under 40..jpg)
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A member of CAF advisory board and a finance scholar of worldwide standing, Professor Franklin Allen (Wharton) recently visited CAF as the first Academic Fellow. CAF has plans to invite distinguished academicians and corporate executives for short terms as Academic or Corporate Fellows, as the case may be. The fellows will come to the ISB to interact with the faculty and students, including working on research projects with the ISB faculty.