Education
Research Interests
-
Empirical corporate finance, Information economics, Behavioral finance, Game theory
Academic Publications
- Patterns in the timing of corporate event waves, (with A. Stouraitis), Journal of Financial and Quantitative Analysis, forthcoming.
- The helping hand or the grabbing hand? Central vs. local government shareholders in publicly listed firms in China, (with Y. Cheung and A. Stouraitis), Review of Finance, forthcoming.
- Independents' day? Analyst behavior surrounding the Global Settlement, (with Jonathan
Clarke, Ajay Khorana, and Ajay Patel), Annals of Finance, forthcoming.
- Buy high, sell low: How listed firms price asset transfers in related party transactions, (with Y. Cheung, Y. Qi, and A. Stouraitis), Journal of Banking and Finance, 33, 914-924, 2009.
- Tunneling and propping up: An analysis of related party transactions by Chinese listed companies, (with Y. Cheung, L. Jing, T. Lu, and A. Stouraitis), Pacific-Basin Finance Journal, 17, 372-393, 2009.
- The impact of all-star analyst job changes on their coverage choices and investment banking
deal flow, (with Jonathan
Clarke, Ajay Khorana, and Ajay Patel), Journal of Financial Economics,
84, 713-737, 2007.
- Good stewards, cheap talkers, or family men? The
impact of mutual fund closures on fund managers, flows, fees, and performance,
(with
Arturo Bris,
Huseyin Gulen, and Padma Kadiyala),
Review of Financial Studies, 20, 953-982, 2007.
-
Tunneling, Propping, and Expropriation: Evidence from
connected party transactions in Hong Kong, (with
Yan-Leung Chung and
Aris Stouraitis),
Journal of Financial Economics,
82, 343-386, 2006.
-
Changing names with style: Mutual fund name changes and their effects on fund
flows, (with Mike Cooper and
Huseyin Gulen),
Journal of Finance,
60, 2825-2858, 2005.
-
Managerial actions in response to a market downturn: Valuation effects of name changes in the dot.com decline,
(with Ajay Patel, Igor Osobov,
Ajay Khorana, and
Mike Cooper),
Journal of Corporate Finance,
11, 319-335, 2005.
-
Investor Reaction to Corporate Event Announcements: Under-reaction or
Over-reaction?, (with Padma Kadiyala), Journal of Business
77, 357-386, 2004.
-
Regulation, Taxes, and Share Repurchases in the U.K.,
(with Theo
Vermaelen), Journal of Business 75, 245-282, 2002.
- A Rose.com
by Any Other Name,
(with Mike Cooper, and Orlin Dimitrov),
Journal of Finance 56, 2371-2388, 2001.
-
Investment Bank Market Share, Contingent Fee Payments and the Performance
of Acquiring Firms, Journal of Financial Economics, 56, 293-324, 2000.
-
Glamour,
Value and the Post-Acquisition Performance of Acquiring Firms,
(with Theo Vermaelen),
Journal of Financial Economics, 49, 223-253, 1998.
-
"Management of Information Technology: The Indian Experience", (with H. R. Rao),
Journal of Information Science and Technology, 2, 288-296, 1993.
-
"Introducing a Multi-Plant Information System at Indian Oil", (with V. Shekhar and H. R. Rao,
), Long Range Planning, 25, 89-96, 1992.
Book Chapters
- Financial Economics” (with Jinlan Ni), edited by Shunfeng Song and Zuohong Pan, pp 146-179, Chapter 7 in Beida Series - Economics/Peking University Press, 2008.
- “The empirical evidence on mergers”, in Mergers, acquisitions, and corporate restructuring, edited by Chandrashekar Krishnamurthi and S.R. Vishwanath, pp 212-247, Sage University Press, 2008.
- “The dotcom premium: Rational valuation or irrational exuberance?”, (with Mike Cooper) in Venture capital contracting and the valuation of high tech firms, edited by J. McCahery and L. D. R. Renneboog, pp 297-317, Oxford University Press, 2003.
Other Publications
- Determinants of the market share of investment banks that advise M&A
deals, Corporate Finance Review, 18-25, November-December 2003.
- Management of Information Technology: The Indian Experience, (with H.R.Rao), Journal of Information Science and Technology, 2 (3), 288-296, 1993.
- Introducing a Multi-Plant Information System at Indian Oil, (with V. Shekhar, and H.R. Rao), Long Range Planning, 25 (2), 89-96, 1992.
Working Papers
- Is there life after the loss of analyst coverage? with Ajay Khorana, Georgia Institute of Technology, and Simona Mola, Arizona State University
- Expropriation, unification, and corporate governance in Italy, with Marco Bigelli, Universita di Bologna and Vikas Mehrotra, University of Alberta
- “Paying for risk or shareholder rip-off? An analysis of severance pay contracts, with Jin Xu, Purdue University
- Analyst career concerns, coverage choices, and changing influence, with Yinghua Li and Jin Xu, Purdue University
Seminars and Presentations
At Professional Meetings
- American Finance Association, New Orleans, 2001; Atlanta, 2002;
Boston 2006, San Francisco, 2009
- The Chinese Finance Association meetings, New York, 2008
- Hitotsobashi Sakura conference on Corporate governance and politics of finance, Tokyo, 2008
- OECD Conference on Corporate Governance, 2007
- Frontiers of Finance, Curacao, 2007
- Annual Empirical Asset Pricing Retreat, University of Amsterdam,
2005
- Inquire Europe Autumn Seminar, Prague 2004
- Utah Winter Finance Conference, 2004
- Western Finance Association, Sunriver, 1996; San Diego, 1997; Monterey, 1998;
Los Cabos, 2003
- University of Illinois Conference on Bear Markets, December 2002
- Chicago Quantitative Alliance Meetings, Las Vegas, April 2002
- Financial Management Association, New Orleans, 1996; Hawaii, 1997; Chicago, 1998; Seattle, 2000; Paris, 2001; Toronto, 2001;
Copenhagen, 2002; San Antonio, 2002; Dublin 2003; Denver, 2003; Zurich, 2004; New Orleans, 2004; Siena 2005
- European Finance Association, Oslo, 1996; Vienna, 1997; Fontainebleau, 1998; Helsinki, 1999; London, 2000;
Glasgow, 2003; Maastricht, 2004; Moscow 2005
- European Financial Management Association, Innsbruck, 1996; Lisbon, 1998; Paris, 1999, Athens, 2000, Lugano, 2001
- Australasian Finance and Banking Conference, Sydney, December 2003
- Alternative Perspectives in Finance,
Dundee, 2000
- Washington Area Finance Association, Fairfax, 1999
- French Finance Association, Geneva, 1996, Bordeaux 2007
- Doctoral Tutorial Seminar, FMA, New York, 1995
- International Conference on Game Theory, Jerusalem, 1995
- EIASM Doctoral Tutorial in Finance, Brussels, 1994.
At Schools
- University of Bath, July 2008;
- University of Groningen, May 2008;
- Helsinki School of Economics, April 2008;
- Syracuse University, September 2007;
- Aarhus School of Business, August 2007;
- Queen's University, April 2007;
- McGill University, March 2007;
- University of California, Irvine, October 2006;
- University of Alberta, September 2006;
- Santa Clara University, August 2006;
- University of California, Davis, May 2006;
- University of California, Los Angeles, May 2006;
- University of Southern California, April 2006;
- University of California, Santa Barbara, March 2006;
- University of Missouri at Columbia, November 2005;
- Università degli Studi di Palermo, June 2005;
- Università di Bologna, June 2005;
- Tulane University, April 2005;
- Wake Forest University, April 2005;
- University of Texas at Austin, April 2004;
- Babson College, April 2004;
- Helsinki School of Economics, Helsinki, Finland, September 2003;
- Swedish School of Economics and Business Administration, Helsinki,
Finland, September 2003;
- ISCTE, Lisbon, Portugal, May 2003;
- Faculdade di Economia do Porto, Porto, Portugal, May 2003;
- Virginia Tech, April 2003;
- University of Arizona, November 2002;
- Goldman Sachs & Co, New York, April 2002;
- Michigan State University, February 2002;
- Texas A&M University, February 2002;
- Olin School of Business, Washington University, St. Louis, January 2002;
- The Hong Kong University of Science and Technology, December 2001;
- City University of Hong Kong, December 2001;
- The Darden School, University of Virginia, Charlottesville, November 2001; March 2002;
- University of Florida, Gainesville, April 2001;
- University of Georgia, Athens, March 2001;
- Casewestern Reserve University, Cleveland, November 1999;
- University of Miami, Miami, November 1999;
- University of Strathclyde, Glasgow, August 1999;
- Loyola University, Chicago, October 1998;
- Indian Institute of Management, Bangalore, India, December 1997;
- Stockholm School of Economics, Stockholm, March 1997;
- Krannert Graduate School of Management, Purdue University, March 1997;
- Yale School of Management, Yale University, March 1997;
- London Business School, February 1997;
- Groupe ESSEC, Cergy-Pontoise Cedex, France, February 1997;
- University of North Carolina at Chapel Hill, February 1997;
- School of Management Studies, Oxford University, January 1997;
- Erasmus University, Rotterdam, January 1997;
- Rice University, October 1996;
- University of Minnesota at Minneapolis-Saint Paul, June 1996;
- INSEAD Business Economics Seminar, May 1995, June 2001
Invited Speaker
- Nordea Bank, Aarhus, Denmark, August 2007
- Vanderbilt University Law School, MBA seminar, April 2007
- Frontiers of Finance, executive seminar, Seminarium, Lima, Peru, June 2006
- Frontiers of Finance, executive seminar, Seminarium, Mexico City, Mexico, May 2006
- Berkeley Program in Finance, Palm Springs, October 2000
- German-American Law Association, Hannover, Germany, February 2000
- Institute of Finance and International Management, Bangalore, India, December 1997
Quotes and References in the Mass Media
- Economist, 14 February 2009
- Forbes, 29 January 2009
- AE Investimentos, Brazil, 27 August 2008
The New York Times,
15 August, 1999, Business Section,
28 Dec, 2003, Business Section,
10 Sep, 2007, Dealbook
- Financial Times,
February 7, 2000,
April 28, 2000,
April 29, 2000
May 11, 2007
- The Wall Street Journal,
3 June, 1999, page C1,
December 18, 2002, page C1,
March 14, 2003, page C1,
February 10, 2006
- Smartmoney.com,
Pro Shop,
December
8, 2005
- The National Football League,
4 January, 2005, Tuesday Morning Quarterback
- Marymilla,
Wish I'd said that column
- Indianapolis Business Journal,
December 25-31, 2000,
December 8-14, 2003
- The Times of Northwest Indiana, October 20, 2000,
September 14, 2003
- The Washington Post,
May 11, 2003, page B5
- Frankfurter Allgemeine Zeitung
(Germany),
April 7, 2003
- Hurriyet (Turkey), March 17, 2003
- WebFN radio, Chicago, December 20, 2002
- CBC radio, Canada, December 20, 2002
- WFYI, Indianapolis,
Inside INdiana Business with Gerry Dick,
September 14, 2001
- The Times Online, Northwest Indiana,
August 22, 2001,
September 18, 2001
- The Journal Gazette, Fort Wayne, Indiana,
January 7, 2001,
September 22, 2002
- The Hindu (India),
September 7, 2000
- Inc magazine,
June, 2000
- La Repubblica (Italy),
June 12, 2000
- Canoe Money,
June 8, 2000
- harvard.net.news,
June 2, 2000
- Il Sole 24 Ore (Italy),
May 15, 2000
- Journal & Courier,
April 5,
6, 25,
December 25, 2000
- The Republic.com, April 7, 2000,
January 20, 2001,
September
17, 2001
- WLFI, April 4, 2000,
April 26, 2001
- Actualidad Economica (Spain), February 14, 2000
- De Standaard (Belgium), February 8, 2000
- Edmonton Star (Canada), 27 December, 1999
- Indexfunds.com,
October, 1999
- Equity magazine,
Fall 1999
- Independent Business Weekly (New Zealand),
September 22, 1999
- Pittsburgh Post-Gazette,
August 29, 1999
- India Abroad, (India), August 27, 1999
- Handelsblatt (Germany),
August 20, 1999
- NBC, August 18, 1999
- CNBC, June 4, 1999; August 17, 1999
- Reuter's,
17 August, 1999, Breaking News Section
- Charles Schwab's Trader's Edge, October-November 1998
- Lafayette Leader, 31 July, 1998
- WIBC Radio, Indianapolis, 27 July 1998, 4 April 2000
- USA Today,
16 July 1998,
17 August 1999
- Smartmoney magazine,
June 1998
Academic Positions
| 1997-2008 |
Krannert Graduate School of
Management |
|
| 2005-2006 |
UCLA Anderson Graduate School of Management |
| 1996 |
Institut d'Etudes Politiques de Paris, Paris (Sciences PO) |
| 1995 |
St Xavier University, Paris |
Courses Taught
| PhD: |
Corporate Finance |
| |
Behavioral Finance |
| MBA/Executive |
Theory of Finance - An introduction |
| |
Financial Management / Corporate Finance |
| |
Takeovers, restructuring and governance |
| |
Behavioral Finance |
| Undergraduate |
Financial Management / Corporate Finance |
| |
Financial Markets and Institutions |
| |
International Corporate Finance (Videocourse) |
Teaching Awards
Research Awards, Grants and Scholarships
- The Chinese Finance Association Best Paper in Corporate Finance award for the paper "The helping hand, the lazy hand, or the grabbing hand? Central vs. local government shareholders in publicly listed firms in China", 2008
- Institute of Quantitative Research in
Finance (Q Group) Grant, for the paper "Closing time? The signaling
content of mutual fund closures", Fall 2003
-
Chicago Quantitative Alliance Award, 2002 for the paper "Investor Reaction to Corporate Event Announcements:
Under-reaction or Over-reaction?", Spring 2002
- John and Mary Willis Young Faculty Scholar Award, 2001
- EFA Barclays Global Investor Award, for the best paper at the Symposium at the EFA Meetings,
for the paper "A rose.com by any other name", 2000.
- Krannert faculty Fellow Award, 1999
- FMA "Best of the Best" Award, for the paper "Glamour, Value
and the Post-Acquisition Performance of Acquiring Firms", 1996
- FMA Competitive Award for Business Finance, for the paper "Glamour,
Value and the Post-Acquisition Performance of Acquiring Firms", 1996
- Indian Institute of Management Merit Scholarship, 1988
- Delhi University Merit Scholarship, 1987 (second rank in the University)
- National Talent Merit Scholar, India, 1982
|
Work Experience
| 1989-91 |
C.M.C. Ltd., New Delhi, India |
|
Systems Analyst |
| 2008- |
Barclays Global Investors, San Francisco |
|
Principal |
Other Professional Activities
| Associate Editor |
International Review of Finance |
| Ad-hoc Reviewer |
Journal of Financial Economics |
| Journal of Finance |
|
Review of Financial Studies |
| | Journal of Business |
| Journal of Financial
and Quantitative Analysis |
| |
Journal of Money,
Credit and Banking |
| |
Review of Finance |
| | Academy of
Management Review |
| |
Journal of
Empirical Finance |
| Journal of Corporate Finance |
| Journal of Banking and Finance |
| Financial Management |
| Journal of Economics and Business |
| |
Journal of Financial Research
|
|
Financial Review |
| |
Quarterly Review of Economics and Finance |
| |
Finance Research Letters |
| |
Global Finance Journal |
|
National Science Foundation |
| Program Chair |
Financial Management Association European Meeting, Stockholm
2006 |
| Program Committee |
Western Finance Association, San Diego,
2009 |
|
Financial Management Association European Meeting, Paris 2001,
Dublin 2003 |
|
Financial Management Association Meeting, San Antonio, 2002,
Denver 2003, New Orleans, 2004, Reno 2009 |
|
European Finance Association Meetings, Moscow, 2005, Athens, 2008 |
|
4th International Conference, Portuguese Finance Network, Porto, 2006, 2008 |
| Track Chair, Corporate Finance |
Midwest Finance Association Meeting, St Louis, 2002 |
| Committee Member |
Financial Management Association, Fellows Committee, 2002 |
| |
Financial Management Association,
European Meeting Policy Committee, 2003 |
Personal
Languages: English, French, Italian, Hindi, Kannada
Leisure Interests: Aikido,
Iaido,
Astronomy,
Fencing,
Golf, Travel
|