Management Financial

Curriculum Vitae

Madhuri Malhotra, Ph.D.

Assistant Professor,

Madras School of Economics

Gandhi Mandapam Road, Kottur

Chennai 600025

Email: ***************@***.**.**, ***************@*****.***

Tel: 91-44-223*****, Ext: 220

RESEARCH INTEREST

Corporate Finance, Financial Markets, Computational Finance, Behavioral Finance, Mergers and Acquisitions,

Investment Banking, Financial Institutions.

ACADEMIC QUALIFICATION

Degree University Specialization

Ph.D. Indian Institute of Finance

Technology, Madras

Master of Business Dayalbagh Finance

Management Educational Institute

(Deemed University-

UGC) Agra, Uttar

Pradesh, India

Bachelor of Business Dayalbagh Finance

Management Educational Institute

(Deemed University-

UGC) Agra, Uttar

Pradesh, India

Honors Diploma in Network NIIT Ltd. Agra Computer Networking

Centered Computing (HNC) Center

OTHER QUALIFICATIONS

Qualified UGC NET (National Eligibility Test), conducted by the Universities Grants Commission (UGC),

India, in July 2000.

ACADEMIC ACHIEVEMENTS

o Awarded Director s GOLD MEDAL for securing highest marks in the Masters of Business

Management(MBM)

o Secured highest marks in Honors diploma in Network Centered Computing course at NIIT centre, Agra.

(May1998-May1999).

Ph.D. THESIS

Thesis Title: Stock price reaction, liquidity and volatility changes around bonus and rights issue

announcements.

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PROFESSIONAL EXPERIENCE

Madras School of Economics, Chennai

Assistant Professor January 2011 onwards.

Madras School of Economics, Chennai

Lecturer September, 2008 to December 2010

Indian Institute of Technology Madras, Chennai

Research Scholar (Full Time) January 2004 to August 2008.

Indira Gandhi National Open University (IGNOU) study center, Chennai

Lecturer January 2003 to June 2003.

All India Management Association, Center for Management Education (AIMA CME)

Lecturer June 1999 to June 2000.

CMC Computers Ltd.

Teaching faculty January 1999 to June 1999.

RESEARCH PUBLICATIONS (REFEREED)

1. Malhotra, M., M. Thenmozhi and Arun Kumar Gopalaswamy (2012) Liquidity changes around bonus

and rights issue announcements: Evidence from manufacturing and services sector in India, Wealth-

International Journal of Money Banking and Finance, Volume 1, Issue 1, January - June 2012.

2. Malhotra, M., M. Thenmozhi and Arun Kumar Gopalaswamy (2012) Evidence on changes in stock

prices and liquidity around rights issue announcement: Industry specific analysis . International

Journal of Business Insights and Transformation, Forthcoming in October 2012 Issue.

3. Malhotra, M. M. Thenmozhi, and Arun Kumar Gopalaswamy (2010) Evidence of changes in time

varying volatility around bonus and rights issue announcements, International Journal of Emerging

Markets, Forthcoming issue.

4. Malhotra, M., Thenmozhi, M. and Arun Kumar Gopalaswamy (2007) Effect of bonus issue

announcement on stock returns using market model . Journal of International Finance and

Economics, Volume 5, No. 1, pp. 44-58.

5. Malhotra, M. M. Thenmozhi, and Arun Kumar Gopalaswamy (2007) Announcement effect of rights

issue on stock returns: A study of selected Indian manufacturing companies", Journal of Services

Research, Volume 7, number 1, pp. 215-231.

6. Malhotra, M. Thenmozhi, M. and Arun Kumar Gopalaswamy (2010) Evidence of changes in time

varying volatility around bonus and rights issue announcements. Working paper No.61, 2011, Madras

School of Economics, Chennai. http://www.mse.ac.in/pub/WORKING%20PAPER%2061.pdf

7. Malhotra, M., Thenmozhi, M. and Arun Kumar Gopalaswamy (2006) Stock market reaction and

liquidity changes around bonus issue announcement: Evidence from India . Social Science Research

Network (SSRN) working paper. Available at SSRN: http://ssrn.com/abstract=962830. SSRN Author

Rank: 24,661 by Downloads.

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8. Malhotra, M. M. Thenmozhi, and Arun Kumar Gopalaswamy (2011) Evidence of changes in time

varying volatility around bonus and rights issue announcements . Social Science Research Network

(SSRN) working paper. Available at SSRN: http://ssrn.com/abstract=1962265.

SEMINAR AND CONFERENCE PAPERS (Refereed)

1. Malhotra, M. and Manjusha Nair (2012) Initial public offers under pricing and a study on the short run

performance of book built IPOs in India. Presented in MSE Seminar Series held at Ashoka Beach

Resort, Pondicherry on 24th and 25th March 2012.

2. Malhotra, M. M. Thenmozhi and G. Arun Kumar (2011) Factors influencing abnormal returns around

bonus and rights issue announcements . Paper accepted for oral presentation in the International

Conference on Interdisciplinary Business and Economics Research, organized by the Society of

Interdisciplinary Business Research (SIBR), Thailand, June 16-18, 2011.

3. Malhotra, M. M. Thenmozhi, and G. Arun Kumar (2011) Evidence of changes in time varying

volatility around bonus and rights issue announcements, Presented in the International Conference on

Practice and Research in Management 2011, 18 20 February, 2011, Department of Management,

Faculty of social sciences, Dayalbagh Educational Institute (Deemed University), Agra .

4. Malhotra, M. and M. Thenmozhi, and G. Arun Kumar (2010) Factors influencing abnormal returns

around bonus and rights issue announcements Presented in MSE Seminar Series held at MGM beach

resort on 20th and 21st August 2010.

5. Malhotra, M., M. Thenmozhi, and Arun Kumar, G. Announcement effect of rights issue: A study of

selected Indian manufacturing companies", International Conference on Business and Finance 2005,

ICFAI Business School, Hyderabad, Dec.22-23, 2005.

6. Malhotra, M., M., Thenmozhi, and Arun Kumar, G. Announcement effect of rights issue: A study of

selected Indian manufacturing companies", Sixth Consortium of students in Management Research,

An international conference, September 21-23, 2006. Indian Institute of Science, Bangalore.

7. Malhotra, M., M., Thenmozhi, and Arun Kumar, G. Liquidity changes and stock market reactions

around bonus issue announcement: Evidence from India. Missouri Valley Economic Association 43rd

Annual Meeting. October 26-28, Minneapolis.

8. Malhotra, M., Thenmozhi, M. and Arun Kumar, G. Stock market reaction and liquidity changes around

bonus issue announcement: Evidence from India. The Tenth Capital Market Conference December

18-19, 2006. Indian Institute of Capital Market. Mumbai. India. Proceedings e-published-

www.ssrn.com, A social science research network which is a popular financial research website.

9. Malhotra, M., Thenmozhi, M. and Arun Kumar, G. Effect of bonus issue announcement on stock

returns using market model . International Academy of Business and Economics-2007, annual

conference, October 14 17, 2007. Las Vegas, Nevada, USA.

10. Malhotra, M. & Thenmozhi, M. Indian debt market: Critical issues for development, Proceedings of

the Third National Conference on Business Research, PSG College of Technology, Coimbatore,

November, 2004. pp. 132-145. Conference proceedings published in the form of a book titled Current

research in business and economics .

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WORK SHOPS ORGANISED

o Organized a Three day National workshop on Time series modeling and applications, at Madras

School of Economics, during 25 - 27 March 2011. More than 75 Participants from all

over India participated.

WORK SHOP / SEMINAR RESOURSCE PERSON

o Served as a Resource Person at the Training Program on Derivatives: Valuation and Trading, held

at Madras School of Economics during May 28th and 29th 2010.

INVITED TALKS/ SPECIAL LECTURES

o Delivered a guest lecture on the topic, Personality types and stages of child s personality development:

With special focus on primary school children. In-service Training for Science Trained Graduate

Teachers at Kendriya Vidyalaya, IIT Madras Campus during June 8 -19, 2011.

o Delivered a lecture on Stock price reaction and liquidity changes around bonus and rights issue

announcement in the Great Lakes Institute of Management, Chennai on 12th January 2008.

o Delivered a lecture Valuation of Forward and Futures in the Training program on derivatives:

Valuation and trade organized by Madras School of Economics during May 28th and 29th, 2010.

ARTICLES PUBLISHED

o Financial Crises: A cascading effect on India (2009).

http://advances.mse.ac.in/making/Financial%20Crises%20madhuri.pdf

o The Mantra for High Achievers . Article published in Athena, Issue 2, April 2012.

http://www.mse.ac.in/newandevents/Athena-2.pdf

o Dare to be Different . Article published in CONEXNS- Annual Management Newsletter of

Department of Management Studies Faculty of Social Sciences, Dayalbagh Educational Institute

(Deemed University) Dayalbagh Agra, November 2011.

PROJECTS UNDERTAKEN

o Inventory Analysis and balance Sheet Analysis of small scale industry

o A Study on Project Appraisal Norms of Punjab National Bank

o Future of Non Bank Finance Companies in India.

SEMINAR/ WORK SHOPS / CONFERENCES ATTENDED

o Participated in International Conference on Economics and Business Analysis and Applications

(EBAA 2011), November 12-13, 2011. Organized by Department of Economics, Faculty of Social

Sciences and Department of Applied Business Economics, Faculty of Commerce, Dayalbagh

Educational Institute (Deemed University) Agra 282110.

o Participated in the Management Development Programme on Valuation and Risk Management in

Fixed Income Markets in the Department of Management Studies, Indian Institute of Technology

Madras, Chennai, during November, 5-6, 2004.

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o Attended a Workshop on Applied Econometrics in Madras School of Economics, Chennai, during

December, 6-15, 2004.

o Attended a Three day Programme on Stock Market Efficiency in the Institute for Financial

Management and Research,(IFMR) Centre for Advanced Financial Studies, during May 16-18, 2005.

o Attended a 2 day workshop on Multivariate Data Analysis organized by the Department of

Humanities and Social Sciences, Indian Institute of Technology, Madras during July 2004.

o Attended a short course on Stock options and Derivatives at the Dayalbagh Educational Institute,

Deemed University Dayalbagh, Agra, Dec. 10 - 20, 1996.

RESEARCH GUIDANCE

1. Volatility in Indian Stock Market, Dinesh Kumar, Masters in Financial Economics. (Batch 2007-

2009).

2. Stock Price Reactions to the Private Placements Announcement in India, Bhawesh Sah, Masters in

Financial Economics, (Batch 2007-2009)

3. Probabilistic Prediction of Bankruptcy with Financial Ratios, S. Madhu Sankar, Masters in Financial

Economics, (Batch 2007-2009)

4. Impact of ADR and GDR listing on Firms stock returns Vivek Balakrishnan, Masters in Financial

Economics, (Batch 2007-2009)

5. Wheat Futures in India: Price Discovery and other issues, Nivedita Srinivasan,, Masters in Financial

Economics, (Batch 2008-2010)

6. Share Price Reactions surrounding Earnings Announcements: With Specific focus on IT and Financial

Services Sector, K. R. Saravanan, Masters in Financial Economics, (Batch 2008-1010)

7. Forecasting Volatility in the Indian Stock Market, Mainak Sen, Masters in Financial Economics,

(Batch 2008-2010).

8. Debt market in India: A regulatory Perspective Dinesh, M. D. Masters in Financial Economics, (Batch

2009-2011).

9. Financial Market Microstructure: A study in Indian Context, Jyoti Kamakshi, Masters in Financial

Economics, (Batch 2009-2011).

10. Private Placements: Announcement Impact on Indian Firms, Lakshmi, E. Masters in Financial

Economics, (Batch 2009-2011).

11. Initial Public Offers Under-pricing in India, Manjusha Nair. Masters in Financial Economics, (Batch

2009-2011).

12. Trading Behavior of FIIS in Indian Stock Market, Puja Saraff, Masters in Financial Economics,

(Batch 2009-2011).

13. An Empirical Analysis of Relationship between Commodity Prices and Inflation: An Indian

Perspective, Swetha Ravi, Masters in Financial Economics, (Batch 2009-2011).

14. Analysis of Market Based Mergers in Indian banks, Anand Bharathy, Masters in Financial Economics

Batch 2010-2012.

15. An analysis of seasonality patterns in the Indian Stock market, Karthick Raja, D. Masters in Financial

Economics Batch 2010-2012.

16. An analysis of Performance of Public and Private Sector Banks in India, Keerthana, S. Masters in

Financial Economics Batch 2010-2012.

17. Empirical analysis of Volatility in Indian Stock Market, Prasad, U. Masters in Financial Economics

Batch 2010-2012.

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18. Initial Public Offerings in India: An Analysis of Operating Performance and factors influencing IPO.

Prem Kumar, N. Masters in Financial Economics Batch 2010-2012.

ADMINISRATIVE RESPONSIBILITIES

o Serving as the Faculty Advisor for the Financial Economics Batch 2009-2011, at the Madras School of

Economics since May 2009.

o Serving as a Panel Member for students dissertations in the area of finance and economics, at the

Madras School of Economics since December 2008.

o Member of Database Management Committee, Madras School of Economics, since May 2011.

o Serving as a Panel Member for students Dissertations in the area of Finance and Economics, at the

Madras School of Economics since December 2008.

MEMBERSHIP IN PROFESSIONAL BODIES

o Invited as an expert for the Board of Studies Meeting at Vel Tech Engineering College to discuss the

syllabus for M. Tech Financial Computing. Meeting held on 31st March 2012.

o Executive Committee Member of Systems Societies of India Chennai Chapter.

o Life member of Systems Societies of India (SSI) Ltd.

o Member of Association of Alumni of Dayalbagh Educational Institutions (AADEI)

REVIEW ACTIVITIES

o International Journal: Asian Journal of Finance and Accounting.

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