Lakshmi Naaraayanan

Lakshmi joined London Business School following the completion of his PhD in Finance at the Hong Kong University of Science and Technology (HKUST). Prior to his doctoral studies, he earned his BSc from the National Institute of Technology Calicut (NIT Calicut).

Lakshmi studies how finance can help address market failures. His research focuses on the role of financial markets, institutions, and regulation in shaping firm and household behaviour, with particular emphasis on sustainability, corporate governance, housing markets, and economic development. A central theme of his work is examining when market discipline is sufficient, and when policy intervention is needed to address externalities, information problems, and institutional constraints.

His research has been published in leading finance journals, including Review of Financial Studies and Journal of Financial Economics. His research has won several awards, including the Moskowitz Prize for Best Paper in Sustainable and Responsible Investing, and the European Investment Forum Research Award. His research has also attracted external grant support from institutions including the British Academy/Leverhulme Trust. Beyond academia, Lakshmi’s work has been featured by the Financial Times, Forbes, the World Bank, VoxEU, Financial Express, and Oxford Business Law, and has contributed to debates on sustainable investing, environmental regulation, housing markets, infrastructure finance, and corporate governance.