Robert McDonald

Robert McDonald photo

Robert McDonald

Gaylord Freeman Distinguished Chair in Banking and Professor of Finance at The Kellogg School of Management
Northwestern University

Robert McDonald is Gaylord Freeman Distinguished Chair in Banking and Professor of Finance. He has been a faculty member at Kellogg since 1984 and also served as Finance department chair and Senior Associate Dean for Faculty and Research. His areas of research include corporate finance, taxation, derivatives, and applications of option pricing theory to corporate investments.

McDonald is a research associate of the National Bureau of Economic Research, and also served as past  director of the American Finance Association. He earned a B.A. in Economics from the University of North Carolina and a Ph.D. in economics from the Massachusetts Institute of Technology.

Professional Achievements

  • Former co-editor, Review of Financial Studies.
  • Editorial board member, Journal of Finance, Management Science, and Journal of Financial and Quantitative Analysis.
  • Author, Derivatives Markets, 3e, published in 2013, and Fundamentals of Derivatives Markets, published in 2008.


November 2021
In 2006, the University of Iowa changed its retirement plan default investment from a money market fund to a target date fund—and the resulting effect on participant behavior was significant.
November 2010
Advisors need to understand the way investors think about decisions and the process through which decisions are made.
August 2013
Financial product ratings are intended to summarize relevant information in a manner that assists in decision-making, but may be harmful. Ratings are often assigned within categories; ratings across categories may not be comparable.