Stephen M. Ross School of Business, University of
Michael Stark Professor of Finance, 2018-Present
Professor of Finance, 2014-Present
Associate Professor of Finance, 2010-2014
Assistant Professor of Finance, 2004-2010
Cornell University - Ithaca, 1999-2005
Ph.D. in Finance, 2005
Indian Institute of Management - Lucknow, 1993-1995
PGDM (MBA), 1995
Indian Institute of Technology - Kharagpur, 1989-1993
B.Tech. (Electrical Engineering), 1993
- Banking: Banking and Real Economy, Measurement & Monitoring of Risk in Banks, Bank Loans.
- Mortgage & Real Estate Finance: Subprime crisis, RMBS Market, Racial Differences in Mortgage Market.
- Corporate Finance: Risk Management, IPOs & SEOs, Capital Structure, Security Design.
- Credit Risk: Default risk and security returns, Modeling of credit risk.
Recent Working Papers:
"Judging Bank Risk by the Profits They Report", with Ben Meiselman and Stefan Nagel
"Disaster Lending: "Fair Prices", but "Unfair Access"", with Taylor Begley,
Umit Gurun, and Daniel Weagley
"Color and Credit: Race, Regulation, and the Quality of Financial Services", with Taylor Begley
"A System-wide Approach to Measure Connectivity in the Financial Sector", with Sumanta Basu, Sreyoshi Das,
and George Michailidis
"Bank Risk Dynamics and Distance-to-Default", with Stefan Nagel
Publications/ Forthcoming Papers:
"Growth Option Exercise and Capital Structure", with Uday Rajan
Review of Finance, 2018, 207-241.
"The Strategic Under-reporting of Bank Risk", with Taylor Begley and KC Zheng
Review of Financial Studies, 2017, 30, 3376-3415.
"Design of Financial Securities: Empirical Evidence from Private-Label RMBS Deals", with Taylor Begley
Review of Financial Studies, 2017, 30, 120-161.
"Do Short Sellers Trade on Private Information or False Information", with Nejat Seyhun
Journal of Financial & Quantitative Analysis, forthcoming.
"Can Markets Discipline Government Agencies? Evidence from the Weather Derivatives Market", with Daniel Weagley
Journal of Finance, 2016, 71, 303-334.
"Seasoned Equity Offerings, Corporate Governance, and Investments", with Han Kim
Review of Finance, 2014, 18, 1023-1057.
"Originate-to-Distribute Model and the Sub-prime Mortgage Crisis"
Review of Financial Studies, 2011, 24, 1881-1915.
"The effect of banking crisis on bank-dependent borrowers", with Sudheer Chava
Journal of Financial Economics, 2011, 99, 116-135.
"CEOs vs. CFOs: Incentives and Corporate Policies", with Sudheer Chava
Journal of Financial Economics, 2010, 97, 263-278.
"Is Default Risk Negatively Related to Stock Returns?", with Sudheer Chava
Review of Financial Studies, 2010, 23, 2523-2559.
"Do Shareholders Rights Affect the Cost of Bank Loans?", with Sudheer Chava and Dmitri Livdan
Review of Financial Studies, 2009, 22, 2973-3004.
"Financial Distress and Corporate Risk Management: Theory & Evidence"
Journal of Financial Economics, 2008, 87, 706-739.
"Interest Rate Derivatives at Commercial Banks: An Empirical Investigation",
Journal of Monetary Economics, 2007, 54, 1769-1808.
"Determinants of the Floating-to-Fixed Rate Debt Structure of Firms", with Sudheer Chava
Journal of Financial Economics, 2007, 85, 755-786.
"Are IPOs Really Underpriced?", with Bhaskaran Swaminathan.
Review of Financial Studies, 2004, 17, 811-848.
"Market Pricing of Deposit Insurance", with Darrell Duffie, Robert Jarrow, and Wei Yang.
Journal of Financial Services Research, 2003, 24, 93-119.
- Review of Finance, Editor, June 2017 -.
- Review of Finance, Associate Editor, 2017.
- Journal of Banking and Finance, Associate Editor, 2017-.
- Review of Financial Studies, Associate Editor, 2015-2018.
- Journal of Financial Intermediation, Associate Editor, 2013-.
- International Review of Finance, Associate Editor, 2008-.
- Valuation (advanced corporate finance class) for MBAs.
- Introductory corporate finance for PhDs.
- Research Methods in corporate finance for PhDs.
- Core finance class for MBAs.