Lakshmi Naaraayanan

Lakshmi Naaraayanan

Assistant Professor of Finance

London Business School

Regent's Park, London NW1 4SA, UK

Email: lnaaraayanan@london.edu

CEPR, Research Affiliate

CV | Google Scholar | SSRN

Published and Accepted Papers

Investments that Make our Homes Greener: The Role of Regulation with Nuno Clara, João F. Cocco, and Varun Sharma

Journal of Financial Economics, Forthcoming
Media Coverage: VoxEU
CEPR Working Paper

The impact of carcinogenic risk exposure on housing values: Estimates from chemical reclassifications with Jules Van Binsbergen, João F. Cocco, and Marco Grotteria

Review of Financial Studies, Forthcoming
NBER Working Paper

Business Group Spillovers with Daniel Wolfenzon

Review of Financial Studies, 37(1), January 2024, 231-264
Appendix, NBER Working Paper, Bibtex

Roads and Loans with Sumit Agarwal and Abhiroop Mukherjee

Review of Financial Studies 36(4), April 2023, 1508-1547
Media Coverage: Forbes, World Bank, Financial Express, VoxDev
Appendix, Ungated Version, Bibtex

Does personal liability deter individuals from serving as independent directors? with Kasper Nielsen

Journal of Financial Economics 140(2), May 2021, 621-643
Media Coverage: Oxford Business Law Blog
Appendix, Ungated Version, Bibtex

Working Papers

The Real Effects of Environmental Activist Investing with Kunal Sachdeva and Varun Sharma

Revise & Resubmit, Review of Financial Studies
Awards: International Center for Pension Management Research Award, 2022; Best Paper, European Investment Forum (Cambridge), 2021; Best Paper in Corporate Finance and Financial Institutions at the FMA European Conference, 2021; Moskowitz Prize for Best Paper in Sustainable and Responsible Investing, 2020

Media Coverage: Financial Times, International Pensions Europe, ProMarket (Stigler Center at Chicago Booth)

Green Mortgages with João F. Cocco, and Bernardo Mendes

Upcoming conferences: 2026 ASSA Annual Meeting*

Opening the Brown Box: Production Responses to Environmental Regulation with Rebecca De Simone and Kunal Sachdeva

Upcoming conferences: CUHK-RAPS-RCFS Conference on Asset Pricing and Corporate Finance*

Conflicting Objectives of ESG Funds: Evidence from Proxy Voting with Kunal Sachdeva and Tao Li

Media Coverage: UNPRI Academic Blog

Foreign Influence in U.S. Politics with Marco Grotteria and Max Miller

Media Coverage: ProMarket (Stigler Center at Chicago Booth)

Politics and Price of Housing with Marco Grotteria and Andrea Pagliuca

Divine Catalysts: Religion and Portfolio Choices with Maxime Bonelli, Pulak Ghosh, and Purnoor Tak

Upcoming conferences: NBER Household Finance across the Lifecycle*

Women's Inheritance Rights and Entrepreneurship Gender Gap

Awards: WFA Best Student Paper Award (USC Marshall School of Business Trefftzs Award), 2019; WFA Cubist Systematic Strategies Ph.D. Candidate Award for Outstanding Research, 2019; LBS Wheeler Institute Award, 2019; CICF Best Paper Award, 2019

Rural roads, small business creation, and the gender-gap in entrepreneurship with Sumit Agarwal, Pulak Ghosh, and Abhiroop Mukherjee

Winds of Change: Gender Quota on Boards in the face of Patriarchy with Kasper Nielsen

Online Sales and Firm Resilience with Francisco Gomes and Oksana Smirnova

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