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Raghu Sundaram standing in front of Kaufman Management Center

Raghu Sundaram

– Senior Vice-Chancellor and Head of Global Strategy, New York University
– Dean Emeritus, NYU Stern
– Edward I. Altman Professor of Credit and Debt Markets
– Professor of Finance
 


Raghu Sundaram is Senior Vice-Chancellor and Head of Global Strategy for New York University, and Dean Emeritus and the Edward I. Altman Professor of Credit and Debt Markets at New York University’s Leonard N. Stern School of Business. He served as Dean of NYU Stern from January 1, 2018 through June 30, 2024; and as Vice Dean for MBA Programs and Online Learning from January 1, 2016 to December 31, 2017.

Under Raghu’s deanship, Stern raised over $400 million, including the three largest scholarship gifts in NYU’s history; created/expanded signature accessibility initiatives, such as the undergraduate Breakthrough and Berkley Scholars Programs and the graduate Fertitta Military Veterans MBA Program; shattered past records for incoming class metrics and student career outcomes, in both the undergraduate college and the MBA; launched a number of successful initiatives at the intersection of business, technology, and entrepreneurship, including the Andre Koo Tech MBA, the Endless Frontier Labs, and the Khubani BS in Business, Technology, and Entrepreneurship; created new initiatives around leadership, financial history, sustainability, real estate, climate finance, purpose and flourishing, and other areas; expanded the School’s physical footprint to Washington, D.C., London and Shanghai, soon to be joined by an MBA jointly with NYUAD that will launch in January 2025; launched its first online degree program; and established the School’s first Office of Diversity and Inclusion.

Raghu’s academic work in finance spans a number of areas including agency problems, executive compensation, corporate finance, derivatives pricing, and credit risk and credit derivatives. He has also published extensively in mathematical economics, decision theory, and game theory. His research has appeared in leading academic journals in finance and economics, as well as in several practitioner-oriented journals. He is the author of two books: A First Course in Optimization Theory (Cambridge University Press, 1996) and Derivatives: Principles and Practice (McGraw-Hill, 2010).

Raghu has taught courses across Stern’s Undergraduate, MBA, PhD, and Executive Education programs. Of all the awards he has received over the years, he is most proud of being the inaugural recipient of Stern’s Distinguished Teaching Award in 2007. He has a long record of service to the School and the University, including two terms as chair of the University’s Faculty Senators Council (2013-15) and as a member of NYU’s Presidential Search Committee in both 2014 and 2023. He currently serves as a member of the Governing Council of Krea University and the Advisory Board of the Antai College of Economics and Management, Shanghai Jiao Tong University in Beijing, China.

Prior to joining NYU Stern in 1996, Raghu was on the faculty of the University of Rochester from 1988-96. He received a bachelor of arts degree in economics from the University of Madras, India, in 1982; an MBA from the Indian Institute of Management, Ahmedabad, in 1984; and his MA and PhD in economics from Cornell University in 1987 and 1988, respectively.


Areas of Research

Derivatives
Derivatives: equity, interest-rate, & credit-risk
Executive Compensation
Agency & executive compensation
Corporate Finance
Corporate finance
Dynamic & Stochastic Games
Dynamic & stochastic games
Bandit Problems
Optimal learning & bandit problems
Economics
Game theory, economics, & dynamic programming

Selected Papers

Underwriting Government Debt Auctions: Auction Choice and Information Production

July 27, 2020
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Understanding Government Debt Options

October 25, 2016
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CDS Auctions and Informative Biases in CDS Recovery Rates

August 2012
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First-Purchase Rights: Rights of First Refusal and Rights of First Offer

October 10, 2012
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Derivatives in Financial Market Development

February 2013
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Cross-Country Variations in Capital Structure: The Role of Bankruptcy Codes

February 17, 2010
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An Integrated Model for Hybrid Securities

2007
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Books

A First Course in Optimization Theory

A First Course in Optimization Theory

This book introduces students to optimization theory and its use in economics and allied disciplines. The first of its three parts examines the existence of solutions to optimization problems in Rn, and how these solutions may be identified. The second part explores how solutions to optimization problems change with changes in the underlying parameters, and the last part provides an extensive description of the fundamental principles of finite- and infinite-horizon dynamic programming. A preliminary chapter and three appendices are designed to keep the book mathematically self-contained.
Derivates: Principles & Pracitces

Derivatives

It has been the authors' experience that the overwhelming majority of students in MBA derivatives courses go on to careers where a deep conceptual, rather than solely mathematical, understanding of products and models is required. The first edition of Derivatives looks to create precisely such a blended approach, one that is formal and rigorous, yet intuitive and accessible.