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Pat Akey

Photo of Professor Pat Akey

Pat Akey

Associate Professor of Finance, Department of Management, University of Toronto Mississauga


2014 PhD in Finance, London Business School
2011 MRes in Finance, London Business School
2009 BCom in Finance, McGill University


Pat Akey is an Associate Professor at the University of Toronto, having completed his PhD in Finance in 2014 from the London Business School. His research focuses on the political economy of finance and the incentives of firms to engage in pro-social behavior.  He has presented his research at numerous major academic and practitioner conferences and published in the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies.  He was awarded the 2021 Brattle Prize Distingushed paper for one of the best papers in corporate finance published by the Journal of Finance and the 2016 Rising Scholar Award for the best paper by a young researcher published in the Review of Financial Studies. Major media outlets such as The Economist, Bloomberg, and National Public Radio have cited his work.

Academic Positions

  • 2014-Present

    Assistant Professor, University of Toronto

Selected Publications - Papers

  • Environmental Externalities of Hedge Fund Activism

    Pat Akey and Ian Appel

    working paper

  • Noisy Factors

    Pat Akey, Adriana Robertson, and Mikhail Simutin

    working paper

  • Closet Active Managrment of Passive Funds

    Pat Akey, Adriana Robertson, and Mikhail Simutin

    working paper

  • Hacking Corporate Reputations

    Pat Akey, Stefan Lewellen and Inessa Liskovich

    working paper

  • Pushing Boundaries: Political Redistricting and Consumer Credit

    Pat Akey, Christine Dobridge, Rawley Heimer, and Stefan Lewellen

    working paper

  • Policy Uncertainty, Political Capital, and Firm Risk-Taking

    Pat Akey and Stefan Lewellen

    working paper

  • Price Revelation from Insider Trading: Evidence from Hacked Earnings News

    Pat Akey, Charles Martineau, and Vincent Gregoire

    Journal of Financial Economics



  • The Limits of Limited Liability: Evidence from Industrial Pollution

    Pat Akey and Ian Appel

    Journal of Finance



    Pages: 5-55

  • Politicizing Consumer Credit

    Pat Akey, Rawley Heimer, and Stefan Lewellen

    Journal of Financial Economics



    Pages: 627-655

  • Valuing Changes in Political Networks: Evidence from Campaign Contributions to Close Congressional Elections

    Pat Akey

    Review of Financial Studies



    Pages: 3183-3223

Honors and Awards

  • 2016

    RFS Rising Scholar Award,

  • 2013

    USC Finance PhD Conference Best Paper Award,