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Donald Roy Lessard

Management educator

Donald LESSARD, economist in the field of International Investment and Capital Markets; International Business; Business Finance. Graham and Dodd Award, Finance Analysts Federation, 1976; Visiting Scholar, Harvard Institute, Institution International Development, 1980.

Background

Lessard, Donald Roy was born on July 14, 1943 in San Jose, California, United States. Son of Roy Beverly and Dorita Esther (Thomann) Lessard.

Education

Bachelor, Stanford University, 1965. Master of Business Administration, Stanford University, 1969. Doctor of Philosophy, Stanford University, 1970.

Career

Assistant Professor, Amos Tuck School, Dartmouth College, New Hampshire, 1969-1974. Assistant Professor, Association Professor, Sloan School Management, Massachusetts Institute of Technology, Cambridge, Mass., USA, 1973-1977, 1977-1984. National Westminster Visiting Professor International Finance, London Business School, 1981.

Professor International Management, Sloan School Management, Massachusetts Institute of Technology, Cambridge, Mass., USA, Cambridge, Massachusetts, United States of America, since 1984. Association Editor, 7 Fin,

81. Editorial Board, Editor, Fin, J. International Business Studies, 1980-1984, 1983-1984.

Achievements

  • Graham and Dodd Award, Finance Analysts Federation, 1976. Visiting Scholar, Harvard Institute, Institution International Development, 1980.

Views

My research interests have been concentrated in three general areas: international corporate finance, finance for developing countries, and international portfolio diversification. A theme running throughout much of this work, beginning with my doctoral dissertation which analysed the potential benefits of and obstacles to portfolio diversification across less developed countries, is the limited extent of cross-border risk shifting through financial transactions given the potential welfare gains due to relatively low correlations in asset returns and underlying economic activity. In recent years I have focussed on identifying barriers to cross-border contracting, both at an aggregate and enterprise level, and have tried to identify ways to circumvent these limits and increase risksharing.

Within corporate finance, I have looked at investment, financing, and financial logistics within multinational firms facing multiple tax jurisdictions, currencies and, in many cases, barriers to capital movements. Most recently, I have extended this work to interactions between finance and operations in the context of volatile real exchange rates and to a new class of hedging transactions relevant to this environment.

Membership

Fellow Academy International Business. Member American Finance Association, Finance Executives Institute.

Interests

  • Other Interests

    Avocation: Latin American affairs.

Connections

Married Pauline Marie Olsen, May 29, 1965. Children– Paul Roy, Edward Martin.

father:
Roy Beverly Lessard

mother:
Dorita Esther (Thomann) Lessard

spouse:
Pauline Marie Olsen

children:
Paul Roy Lessard

Edward Martin Lessard