Research  !!!

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Research interests:  

The Indian Financial Sector

International Finance

Political Economy

Microfinance

    

 

               

[For online versions of the book chapters, journal articles and working papers listed below,
please visit my SSRN page here.]

 

International Price Competition on the Internet: A Clinical Study of the Online Book Industry 
(with Barry Scholnick) in F. Macdonald, H.J. Tuselmann and C. Wheeler eds. International Business: Adjusting to New Challenges and Opportunities, Palgrave, London, 2002, pp. 205-220.  Download Paper 

 

The Indian Microfinance Experience – Accomplishments and Challenges in Bibek Debroy and Amir Ullah Khan eds. Integrating the Rural Poor into Markets, Academic Foundation, New Delhi, 2004.   Download paper

Corruption: A Dynamic Agent-Based Model in Jean-Philippe Rennard ed. Handbook of Nature Inspired Computing in Economics and Management, Idea Publishing, 2006.  
Download earlier version here

Foreign Institutional Investment  in Kaushik Basu ed. Oxford Companion to Economics in India, Oxford University Press, New Delhi, 2007. Download paper

 

Foreign Exchange Markets in Kaushik Basu ed. Oxford Companion to Economics in India, Oxford University Press, New Delhi, 2007. Download paper

 

Law and Finance in India – An Overview in Manoranjan Sharma ed. India’s Transforming Financial Sector, Atlantic Press, New Delhi, 2007. Download paper

 

Law, Institutions and Finance in China and India (with Franklin Allen, Sankar De, Jun Qian and Meijun Qian) in Barry Eichengreen, Poonam Gupta and Rajiv Kumar eds. Emerging Giants: The Chinese and Indian Economies in Comparative Perspective, Oxford University Press, 2010.

 

Financial Development in India – Status and Challenges” in Masahiro Kawai and Eswar Prasad ed. Financial Development and Regulation: Perspectives from Asian Emerging Markets, Brookings Institution Press, USA, forthcoming. Download here

 

Foreign Exchange Markets in India” in Kaushik Basu ed. Oxford Concise Companion to Economics in India, Oxford University Press, New Delhi, forthcoming.

 

Thinking the Unthinkable” in Dhiraj Nayyar ed.  Surviving the Storm: India and the Global Financial Crisis, Penguin Portfolio, 2010.

 

Corporate Governance in an Emerging Market – What do markets trust?” (with Subrata Sarkar) in B. Balachandran and D. Satwalekar eds. Corporate Governance: An Emerging Scenario, NSE,  December 2010

 

Corporate Governance through Clause 49 - The Letter and the Spirit” in Prithvi Haldea ed. Prime Directory, 2010

 

Introduction” (with Sankar De) in Rajesh Chakrabarti and Sankar De ed. Capital Markets in India, Sage, New Delhi, 2010.

 

 Bond Markets in India” in Rajesh Chakrabarti and Sankar De ed. Capital Markets in India, Sage, New Delhi, 2010. Download paper

 

The Fund Management Industry in India” in Rajesh Chakrabarti and Sankar De ed. Capital Markets in India, Sage, New Delhi, 2010. Download paper

 

“Foreign Institutional Investment” in Kaushik Basu and Anemie Mertens ed. The New Oxford Companion to Economics in India, Oxford University Press, New Delhi, 2011.

 

“Foreign Exchange Markets” in Kaushik Basu ed and Anemie Mertens ed. The New Oxford Companion to Economics in India, Oxford University Press, New Delhi, 2011.

 

                  

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Papers in refereed journals:           

   

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FINANCE

 

Financing Firms in India (with Franklin Allen, Sankar De, Jun Qian and Meijun Qian), Journal of Financial Intermediation, forthcoming.
(The files related to the survey of Indian SMEs are available here.)

 

Takeover Immunity, Takeovers and The Market for Non-Executive Directors (with Rasha Ashraf, Richard Fu and N. Jayaraman), Financial Management, 2010, 39(1), 83-127.

Corporate Governance in India (with Bill Megginson and Pradeep Yadav), Journal of Applied Corporate Finance, Winter 2008, Volume 20.1.

 

[Reprinted in Chew and Gillan ed. Global Corporate Governance, Columbia University Press, 2009]

Price and Volume Effects of Changes in MSCI Indices – Nature and Causes (with W. Huang, N. Jayaraman, and J. Lee), Journal of Banking and Finance, Vol 29, Issue 5, pp 1237-1264

East Asia and Europe during the 1997 Asian Collapse: A Clinical Study of a Financial Crisis 
(with Richard Roll) Journal of Financial Markets, Vol.5, No.1, pp.1-30.

Just Another Day in the Inter-bank Foreign Exchange Market,
Journal of Financial Economics, Vol. 56, Issue 1, pp. 29-64. 
You may view an earlier version of the paper in PDF here .

Learning from Others, Reacting and Market Quality, (with Richard Roll),
 Journal of Financial Markets, Vol. 2 Number 2, pp. 153-178. 

CA6VYPWX

 

INTERNATIONAL BUSINESS & ECONOMICS

 

Mars-Venus Marriages: Culture and Cross-border M&A (with N. Jayaraman and S. Mukherjee), Journal of International Business Studies, forthcoming.

The Mechanics of Price Adjustment: New Evidence on the (Un)importance of Menu Costs (with Barry Scholnick) Managerial and Decision Economics, Volume 28, Issue 7 (October 2007), pp. 657-668

Nominal Rigidities without Literal Menu Costs: Evidence from E-Commerce (with Barry Scholnick), Economics Letters, Volume 86, Issue 2 , February 2005, Pages 187-191 

Barriers to International E-Commerce (with Barry Scholnick)
Management International Review,
Special Issue, 2003/1, pp. 31-49.

Exchange Rate Expectations and FDI Flows (with Barry Scholnick)

Weltwirtschaftliches Archiv (Review of World Economics), Vol. 138, No.1.

International Expansion of E-Retailers: Where the Amazon Flows (with Barry Scholnick) 
Thunderbird International Business Review, Vol. 44, No. 1, pp.85-104.

 

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 India related papers:

 

FII flows to India: Nature and Causes, Money and Finance, Vol.2 Issue 7, Oct-Dec 2001.

Market Reaction to Addition of Indian Stocks to the MSCI Index, Money and Finance, Vol.2 Issue 11, Oct-Dec 2002.

 

An Empirical Study of Exchange-Traded ADRs from India Market Reaction, Money and Finance, Vol.2 Issue 13-14, April-Sep 2003.

 

Should you bet on your broker’s advice? A study of analyst recommendations in India, Money and Finance, Vol. 2, Issue 17, April-June 2004.

 

Microfinance in Eastern India – A Case Study, Shelter (Special Issue on Microfinance), Vol.7, No.1, January 2004.

 

Corporate Governance in India - Evolution and Challenges, ICFAI Journal of Corporate Governance, October 2005.

 

Commodity Futures in India, ICFAI Journal of Derivatives Markets, October 2005.

 

Bank Efficiency in India since the reforms – An Assessment (with Gaurav Chawla), Money and Finance, July-Dec, 2005.

 

Do Indian Acquisitions Add Value?  Money and Finance, May 2008.

 

On the Jalan Committee Report, Economic and Political Weekly, January 8, 2011.

 

At the Crossroads: Microfinance in India, Money and Finance, Special Issue, July 2011 (with Shamika Ravi)

 

The recent microfinance imbroglio – lessons for regulatory architecture, Macroeconomics and Finance in Emerging Market Economies, Vol. 4, Issue 2, Sep. 2011

 

 

 

case_icon    Case Studies:            

Ashta Chamma – The Biggest Small Movie Ever Made!
(with Rama Krishna Velamuri) ISB-Ivey Case Series
Watch a newsclip on CNN-IBN about this case

O P Bhatt and the State Bank of India: Transformational Leadership
 (with Charles Dhanaraj and Prasad Kaipa)

 

newspap1        Newspaper Articles:

My column in

 

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Writings in Other Newspapers:

 

National borders still matter when it comes to e-commerce (with Barry Scholnick)
The Globe and Mail, Canada, B13, September 22, 2000.

Is the definition of “insider” comprehensive?

The Economic Times, India, January 4, 2008

Takeovers in India: Do They Work?

The Economic Times, India, March 21, 2008

The next big step in banking reforms

Mint, India, April 7, 2008

 

               paper2         Working Papers:

Infrastructure and FDI: Evidence of District-Level Data in India” (with Krishnamurthy Subramanian, Sesha Sairam and Sudershan K)

 

FII trading and market volatility” (with V. Ravi Anshuman and Kiran Kumar)

 

 Value of Independent Directors: Evidence from a Natural Experiment” (with Krishnamurthy Subramanian and Frederic Tung)

 

Power, Compensation and Corruption: Theory and Evidence (with Ajay Subramanian)

Incumbency Effects in Indian Elections – A Preliminary Exploration (with S. Gangopadhyay and S. Krishnan)