Korok Ray conducts research in the areas of performance measurement, compensation, and corporate governance. He served as a senior economist on the Council of Economic Advisers for the White House for the year 2007-2008.

One chapter of his dissertation, "The Retention Effect of Withholding Performance Information," appeared in the Accounting Review. The other chapter, "Performance Evaluations and Efficient Sorting," appeared in the Journal of Accounting Research. Ray's research has earned him the Kauffman Research Grant, a Stigler Center Research Grant, a Summer Research Fellowship from the John M. Olin Program in Law and Economics at Stanford Law School, and a Stanford Business School Fellowship.

After receiving a bachelor's degree summa cum laude in mathematics from the University of Chicago in 1999, Ray attended Stanford University where he received a PhD in economics in 2004. He joined the faculty in 2004.