diff --git a/academic-research.md b/academic-research.md
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@@ -134,6 +134,8 @@ The following is a list of academic research papers in Causal Inference, sorted
 
 - [Matrix Completion Methods for Causal Panel Data Models](https://arxiv.org/pdf/1710.10251.pdf) - Athey, Bayati, Doudchenko, Imbens, Khosravi (2022)
 
+- [Matrix Completion, Counterfactuals, and Factor Analysis of Missing Data](https://www.tandfonline.com/doi/abs/10.1080/01621459.2021.1967163) - Bai, Ng (2021)
+
 - [Using Synthetic Controls: Feasibility, Data Requirements, and Methodological Aspects](https://par.nsf.gov/servlets/purl/10331930) - Abadie (2021)
 
 - [Difference-in-Differences with Variation in Treatment Timing](https://www.sciencedirect.com/science/article/abs/pii/S0304407621001445) - Goodman-Bacon (2021)