Update: Recent article in Academic Times about my research

Hello! I am a financial economist. I am associate professor of finance and director of the financial innovation program at Stevens Institute of Technology. I teach graduate and undergraduate courses in finance to business students. I have several years of consulting experience advising businesses on corporate financial management and in litigation cases involving securities and financial instruments. I am a managing director with Ankura.

I have visited the Federal Reserve Bank of Chicago as a research economist. My research articles have been published in top-tier peer-reviewed finance journals such as Journal of Business, Journal of Finance, Journal of Financial Economics, Journal of Financial Intermediation, and Review of Financial Studies. My research is in the areas of corporate finance, behavioral finance, financial intermediation, and banking.

I have a PhD in Finance from University of Michigan, a Master in Business Administration from the Indian Institute of Management, Calcutta, and a Bachelor of Technology in Electrical Engineering from Indian Institute of Technology, Delhi.

Education:

  • Ph.D. Finance, University of Michigan, 2002
  • MBA, Indian Institute of Management, Calcutta, 1996
  • B.Tech. Electrical Engineering, Indian Institute of Technology, Delhi, 1994

Consulting Areas:

  • Securities and Class Action Cases
  • Econometric and Statistical Analysis
  • Competition and Antitrust
  • Financial Institutions

Research Interests:

  • Corporate Finance
  • Behavioral Finance
  • Financial Intermediation

Teaching Interests:

  • Corporate Finance
  • Valuation and Venture Capital

Publications:

  • "Do CEO Beliefs Affect Corporate Cash Holdings?," (with Sanjay Deshmukh and Keith Howe), Journal of Corporate Finance, 2021, Forthcoming.
  • "Information Reliability and Welfare: A Theory of Coarse Credit Ratings," (with Anjan Thakor), Journal of Financial Economics, 2015, 115(3): 541-557.
  • "Correlated Leverage and Its Ramifications," (with Fenghua Song and Anjan Thakor), Journal of Financial Intermediation, 2014, 23(4): 471-503.
  • "CEO Overconfidence and Dividend Policy," (with Sanjay Deshmukh and Keith Howe), Journal of Financial Intermediation, 2013, 22(3): 440-463.
  • "Do Envious CEOs Cause Merger Waves?," (with Anjan Thakor), Review of Financial Studies, 2010, 23(2): 487-517.
  • "Overconfidence, CEO Selection, and Corporate Governance," (with Anjan Thakor), Journal of Finance, 2008, 63(6): 2737-2784.
  • "Green with Envy: Implications for Corporate Investment Distortions," (with Anjan Thakor), Journal of Business, 2005, 78(6): 2255-2287.
  • "Career Concerns and Resource Allocation in Conglomerates," (with Vikram Nanda and M. P. Narayanan), Review of Financial Studies, 2004, 17(1): 99-128.
  • "Why Do Firms Smooth Earnings?," (with Anjan Thakor), Journal of Business, 2003, 76(1): 151-192.
  • "Easy Weighted Majority Games," (with Nilotpal Chakravarti and Trilochan Sastry), Mathematical Social Sciences, 2000, 40(2): 227-235.
  • "Deadlock Free Routing in Star Interconnection Networks," (with C.P. Ravikumar), IEE Proceedings on Computers and Digital Technology, 1995, 142(6): 395-400.