Korok Ray
Associate Professor, James Benjamin Department of Accounting- 979-862-2078
- korok@mays.tamu.edu
- Wehner 485B
Biography
Korok is an Associate Professor at Texas A&M University’s Mays Business School. His research mixes theory and data. He has designed microeconomic models of compensation, corporate governance, financial disclosure, and managerial incentives. His tools are economic theory, data science, and artificial intelligence.
He teaches courses in financial valuation, managerial performance measurement, and Bitcoin. He founded the Mays Innovation Research Center and the Blockchain and Energy Research Center at Texas A&M. He is currently advising the State of Texas on its historic purchase of bitcoin for the Texas Strategic Bitcoin Reserve.
Korok earned a BS in mathematics from the University of Chicago and a PhD in economics from Stanford University. He has taught at the University of Chicago and Georgetown University, as well as Texas A&M University. He also served on the Council of Economic Advisers of the White House from 2007 to 2009 during the historic financial crisis.
Courses Taught:
Acct 229, Principles of Accounting
Acct 620, Managerial Accounting
Acct 447, Financial Statement Analysis
Education
- 2004 Ph.D., Economics, Stanford University
- 1999 B.S., Mathematics, University of Chicago
Publications
Third-Party Funding of Patent Litigation: Problems and Solutions
Third-Party Funding of Patent Litigation: Problems and Solutions (with Adam Olson, Utah Law Review Symposium, Vol. 2025, no. 4, May 2025)
Bitcoin and the Academy
Bitcoin and the Academy (Journal of Investing, January 2024)
Selling Immigration Visas: A Market-Based Approach to Boost American Innovation
Selling Immigration Visas: A Market-Based Approach to Boost American Innovation (with Sarah Hickman, Journal of Law, Economics, and Policy, Vol. 17, no. 3 Summer of 2022)
Team Incentives Under Private Contracting
Team Incentives Under Private Contracting (with Maris Goldmanis, RAND Journal of Economics, May 2021)
Smart Cities, Dumb Infrastructure: Policy-Induced Competition in Vehicle-to-Infrastructure Systems
Smart Cities, Dumb Infrastructure: Policy-Induced Competition in Vehicle-to-Infrastructure Systems (with Brent Skorup, Texas Review of Law and Politics, Fall 2020)
Optimal Performance Targets
Optimal Performance Targets (with Keri Hu and Yiwen Li, Journal of Management Accounting Research, May 2020)
Effects of Accounting Conservatism on Investment Efficiency and Innovation
Effects of Accounting Conservatism on Investment Efficiency and Innovation (with Volker Laux, Journal of Accounting and Economics, August 2020)
Online Outsourcing and The Future of Work
Online Outsourcing and The Future of Work (with Tessa Thomas, Journal of Global Responsibility, August 2019)
An Efficient Revenue Distribution Method in a Cyber-Enabled Manufacturing System
An Efficient Revenue Distribution Method in a Cyber-Enabled Manufacturing System (with Jyhwen Wang, Tao Zhao, V. Jorge Leon, and I-Hong Hou, Manufacturing Letters, August 2018)
A Non-Monetary Mechanism for Optimal Rate Control Through Efficient Cost Allocation
A Non-Monetary Mechanism for Optimal Rate Control Through Efficient Cost Allocation (with Tao Zhao and I-Hong Hu, IEEE/ACM Transactions on Networking, June 2018)
An Information-Based Model for the Differential Treatment of Gains and Losses
An Information-Based Model for the Differential Treatment of Gains and Losses (with Venky Nagar and Madhav V. Rajan, Review of Accounting Studies, January 2018)
Artificial Intelligence and Value Investing
Artificial Intelligence and Value Investing (Journal of Investing, Spring 2018)
One Size Fits All? Cost and Benefits of Uniform Accounting Standards
One Size Fits All? Cost and Benefits of Uniform Accounting Standards (Journal of International Accounting Research, Spring 2018)
A Theoretical Framework for Evaluating Debtor-in-Possession Financing
A Theoretical Framework for Evaluating Debtor-in-Possession Financing (with Sandeep Dahiya, Emory Bankruptcy Developments Journal, 2017)
Balancing Difficulty of Performance Targets: Theory and Evidence
Balancing Difficulty of Performance Targets: Theory and Evidence (with Michal Matějka, Review of Accounting Studies, September 2017)
A Non-Monetary Mechanism for Optimal Rate Control Through Efficient Delay Allocation
A Non-Monetary Mechanism for Optimal Rate Control Through Efficient Delay Allocation (with Tao Zhao and I-Hong Hou, 2017 15th International Symposium on Modeling and Optimization in Mobile, Ad Hoc, and Wireless Networks (WiOpt2017), Paris, France, May 2017)
Performance Monitoring by Managerial Teams
Performance Monitoring by Managerial Teams(with Pierre Jinghong Liang and Madhav Rajan, The Business and Economics Research Journal, 2016)
Reconciling Full-Cost and Marginal-Cost Pricing
Reconciling Full-Cost and Marginal-Cost Pricing(with Jacob Gramlich, Journal of Management Accounting Research, Spring 2016)
Risk and Volatility: A Differential View
Risk and Volatility: A Differential View (Journal of Investing, Winter 2016)
Sorting Effects of Performance Pay
Sorting Effects of Performance Pay (with Maris Goldmanis, Management Science, February 2015)
Staged Investments in Entrepreneurial Financing
Staged Investments in Entrepreneurial Financing (with Sandeep Dahiya, Journal of Corporate Finance, July 2012)
Efficient Cost Allocation
Efficient Cost Allocation(with Maris Goldmanis, Management Science, July 2012)
Do Accounting Measurements Matter?
Do Accounting Measurements Matter? (Journal of Law, Economics, and Policy, 2010)
Robbing Peter to Pay Paul: Cuba’s Fifty Years of Failed Socialism
Robbing Peter to Pay Paul: Cuba’s Fifty Years of Failed Socialism (Georgetown Journal of International Affairs, Summer/Fall 2009)
Optimal Team Size and Monitoring in Organizations
Optimal Team Size and Monitoring in Organizations(with Pierre Jinghong Liang and Madhav V. Rajan, The Accounting Review, May 2008)
Performance Evaluations and Efficient Sorting
Performance Evaluations and Efficient Sorting(Journal of Accounting Research, September 2007)
The Retention Effect of Withholding Performance Information
The Retention Effect of Withholding Performance Information(The Accounting Review, March 2007)
Theory in the Age of Big Data
Theory in the Age of Big Data (National Affairs no. 62, Winter 2025)