Hello! I am a financial economist. I am associate professor of finance 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 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 Corporate Finance, 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, consumer 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
  • Consumer Finance
  • Asset Pricing
  • Financial Intermediation

Teaching Interests:

  • Corporate Finance
  • Derivatives
  • Econometrics
  • Information Economics
  • Valuation and Venture Capital

Publications:

  • "Impact of Culture in Peer-to-Peer Lending," (with Hongju Ren), Journal of Corporate Finance, 2026, 96: 102915.
  • "When Do Optimistic CEOs Enhance Firm Value?," (with Sanjay Deshmukh), European Financial Management, 2025.
  • "Do CEO Beliefs Affect Corporate Cash Holdings?," (with Sanjay Deshmukh and Keith Howe), Journal of Corporate Finance, 2021, 67: 101886.
  • "Information Reliability and Welfare: A Theory of Coarse Credit Ratings," (with Anjan Thakor), Journal of Financial Economics, 2015, 115(3): 541-557.
  • "The Problem of Hindsight Bias in Fraudulent Conveyance Cases: A Review of Possible “Market-Based” Solutions," (with Sumon Mazumdar), Research in Law and Economics, 2015, 27: 91-117.
  • "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.