Nagpurnanand R. Prabhala
4427 Van Munching Hall, University of Maryland, College Park, MD 20742 ph: (301) 405 2165 fax: (301) 405 0359 email: prabhala@umd.edu
webpage: http://www.nrprabhala.com EDUCATION
STERN SCHOOL OF BUSINESS, NEW YORK UNIVERSITY, NY. 1990-1994 M. Phil, PhD (Finance); Phi Beta Gamma
INDIAN INSTITUTE OF MANAGEMENT, AHMEDABAD, INDIA 1984-1986 MBA, Specialization in Finance & Strategy
INDIAN INSTITUTE OF TECHNOLOGY, DELHI, INDIA 1979-1984 B. Tech (Chemical Engineering), Honors, First Class With Distinction
RESEARCH AND TEACHING INTERESTS
Research: Empirical Corporate Finance, Financial Econometrics,
Teaching: (MBA level) Corporate Finance, Capital Markets, Finance core (PhD level) Discrete time models, Empirical Finance.
ACADEMIC HONORS
Associate Editor, Financial Management, 2012-
Associate Editor, Journal of Financial Services Research, 2007- Associate Editor, Review of Financial Studies, 2001-2004 Journal of Financial Economics all-star paper award, 2008 Program Committee, Western Finance Association, 2002- Program Committee, FMA Meetings. Track Chair, 2011
Outstanding Referee Award, Review of Financial Studies, 2001 Western Finance Association NASDAQ Best Paper Award, 1999 Jules I. Bogen Doctoral Fellowship, New York University, 1991-1992. University Doctoral Fellowships, New York University, 1990-1993. Phi Beta Gamma, New York University, 1993.
Merit Scholarships, Indian Institute of Technology, 1981-1984. Shriram Scholarship, Indian Institute of Technology, 1979-1984. National Merit Scholarship, 1978-1979.
EMPLOYMENT Academic
Associate Professor, Finance (with tenure) 2002-present (on leave to Yale University in 2005/2006 academic year)
Assistant Professor, Finance 1999-2002
Robert H. Smith School of Business, University of MD, College Park
Assistant Professor, Finance 1994-1999
Yale School of Management, New Haven, CT. Industry
Corporate Banking Officer 1986-1989
PUBLICATIONS
“Conditional Methods In Event-Studies And An Equilibrium Justification For Using Standard Event-Study Methods,” 1997, Review of Financial Studies 10, 1-38.
• Reprinted in Empirical Corporate Finance vol. 7 of The International Library of Critical Writings in Financial Economics, Michael J. Brennan, ed.,
(Edward Elgar Publishing, 2000).
“The Relation Between Implied And Realized Volatility,” 1998, Journal of Financial Economics 50, 125-150 (coauthor: Bent Christensen). All-star award for citations per year since publication.
“Disentangling The Dividend Information Implied in Splits: A Decomposition Using Conditional Event-Study Methods,” 2001, Review of Financial Studies 14, 1083-1116 (coauthor: Subhankar Nayak).
“Institutional Allocation in Initial Public Offerings: Empirical Analysis,” 2002, Journal of Finance, 57 (coauthor: Reena Aggarwal and Manju Puri).
“Executive Stock Option Repricing, Internal Governance Mechanisms, and Top
Management Turnover,” 2003, Journal of Financial Economics 69, 153-189. (coauthor: N. K. Chidambaran).
“Self-selection models in corporate finance,” 2006, Chapter 2 in Handbook of Corporate Finance: Empirical Corporate Finance (Elsevier/North-Holland), B. Espen Eckbo, editor. (coauthor: Kai Li).
• Reprinted in Corporate Takeovers: Modern Empirical Developments: Takeover Activity, Valuation Estimates, and Sources of Merger Gains Vol. I, B. Espen Eckbo, ed. (Elsevier/Academic Press, 2010
“Disappearing Dividends, Catering, and Risk,” 2009, Review of Financial Studies 22, 79-116 (coauthor: Jerry Hoberg).
Executive compensation: An overview of research on corporate practices and proposed reforms, 2010, Journal of Applied Corporate Finance 22, 107-118 (coauthors: Mike Faulkender, Dalida Kadyrzhanova, and Lemma Senbet)
“Post-merger Restructuring and The Boundaries of the Firm”, 2011, Journal of Financial Economics 102, 317-343 (coauthors: Gordon Phillips and Vojislav Maksimovic).
IPOs with and without Allocation Discrimination: Empirical Evidence 2011, Journal of Financial Intermediation 20, 530-561 (coauthor: Amit Bubna).
COMPLETED WORKING PAPERS UNDER REVIEW
“Offsetting Behavior and Compensation” revise-resubmit at Journal of Financial Economics (coauthor: N. K. Chidambaran).
“Venture Capital Communities,” Presented at CAF 2011 Summer Conference, FIRS 2011 Conference, 2011 Paris Private Equity Conference, ISB, and University of Maryland. (coauthors: Amit Bubna and Sanjiv Das).
“Product-Market Threats, Payouts, and Financial Flexibility,” revise-resubmit at Journal of Finance. Presented at 2011 UBC Winter Finance Conference, HKUST, National University of Singapore, Michigan State University, Northwestern University, Notre Dame University, Temple University, and University of Southern California (coauthors: Jerry Hoberg and Gordon Phillips).
“CEO-director Connections and Corporate Fraud,” Presented at Fordham University, Korea University Business School, London Business School, Nanyang Technological University, Singapore Management University, Tsinghua University, University of Tilburg, 2011 European Finance Association Meetings, 2011 Financial Intermediation Research Society Conference, 2010 Financial Management Association Meetings, and the 2010 Summer Research Conference at ISB (coauthors: N. K. Chidambaran and Simi Kedia).
“Judging Borrowers by the Company They Keep: Friendship Networks and Information Asymmetry in Online Peer to Peer Lending” revise-resubmit at Management Science. Presented at Carnegie Mellon University, University of Utah, University of Kentucky, the 2008 Summer Doctoral Program of the Oxford Internet Institute, the 2008 INFORMS Annual Conference, the Workshop on Information Systems and Economics (Paris), Western Finance Association Annual Meeting, and the 2009 International Conference on Information Systems (coauthors: Mingfeng Lin and Siva Viswanathan).
SELECTED WORK IN PROGRESS
“Reference Points of Individual Investors: Evidence from Failed Auctions” (coauthors: Amit Bubna and Sudip Gupta)
“Family Matters” (coauthor: Nitin Kumar)
“A theory of interconnectedness and contagion” (coauthor: Sanjiv Das)
“The telescoping overlap problem in options data” (coauthors: Bent Christensen and Charlotte Hansen)
“Time varying volatility and correlation reconsidered” (coauthor: Bent Christensen) CONFERENCES
2011: American Finance Association (Discussant) FIRS Meetings (Paper Acceptance)
ISB Summer Research Conference (Paper Acceptance, Discussant) 2010: Western Finance Association (Discussant)
American Finance Association (Discussant)
Financial Management Association (Paper Acceptance) FIRS Meetings (Paper Acceptance, Discussant)
ISB Summer Research Conference (Paper Acceptance, Discussant) 2009: American Finance Association (Paper acceptance)
2008: Western Finance Association (Paper acceptance) American Finance Assocation (Paper acceptance)
Journal of Financial Intermediation (Paper acceptance; discussant) EFM Symposium on IPOs (Paper acceptance; discussant)
Laurier Conference, Advanced Corporate Finance (Paper acceptance) 2007: American Finance Association (Paper acceptance)
Western Finance Association (Discussant)
2006: Utah Winter Finance Conference (Paper acceptance) NBER Corporate Finance Symposium (Paper acceptance) 2005/6: American Finance Association (Discussant)
2004: Western Finance Association (Discussant)
2003: American Finance Association (Paper Acceptance & Discussant) Western Finance Association (Paper Acceptance)
European Finance Association (Paper Acceptance) 2002: American Finance Association (Paper Acceptance) Western Finance Association (Paper Acceptance) 2001: American Finance Association (Paper Acceptance)
Western Finance Association (Paper Acceptance)
Conference on Financial Economics and Accounting, Rutgers University. 2000: American Finance Association (discussant for two papers)
Western Finance Association (Paper Acceptance)
American Financial Economics Association (Paper Acceptance) Tuck-Journal of Financial Economics Conference on Contemporary
Corporate Governance Issues (Paper Acceptance) 1999: American Finance Association (Discussant)
Western Finance Association (Paper Acceptance)
Won NASDAQ best paper award at the meetings 1998: Western Finance Association (Discussant)
1997: American Finance Association (Paper Acceptance) 1996: American Finance Association (Discussant)
Western Finance Association (Paper Acceptance)
Cornell-Queens Derivative Securities Conference (Paper Acceptance) Financial Management Association (Paper Acceptance)
1995: Western Finance Association (Discussant)
1994: European Finance Association (Paper Acceptance, Discussant) Financial Management Association (Paper Acceptance)
REFEREEING ACTIVITIES AND EXTERNAL SERVICE
Financial Management, Journal of Banking and Finance, Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Financial Intermediation, Journal of Financial Markets, Journal of Financial Services Research, Journal of Risk, Quarterly Review of Economics and Finance, Real Estate Economics, Review of Derivatives Research, Review of Financial Studies, Sloan Management Review Best referee award, Review of Financial Studies, 2001
Program committee, Western Finance Association, Financial Management Association, CAF Summer Conference, ISB, Corporate Governance Conference (Wash. U., St. Louis), SFS Cavalcade
INTERNAL SERVICE: HIGHLIGHTS School-wide oversight committees
MDDI committee (to oversee MS/MBA programs) 2009/10, 2010/11, 2011/12 Faculty Council (2011/12). Elected to oversee faculty governance in Smith School Smith brand recognition committee (2006/07)
Analysis of B-school ranking drivers Faculty Recruitment
Chair, Finance Tenure Track Faculty Recruitment Committee (2011/12) Member (2009/2010)
Involved in all aspects of tenure track recruiting, 1999-2011 Finance Seminar
Co-organizer (2011/12, 2000/01) MBA/MS Advising
Chair, MBA Curriculum Committee (2007/08, 2008/09, 2009/10, 2010/11, 2011/12). Redesigned entire sequence of finance electives from 3-credit to 2-credit format. MS Program Committee (2011/12)
MBA Curriculum Committee, 1999- Team MBA Advising (2011/12)
Finance department marketing committee (2006/07)
M&A case competition committee (2007/08, 2008/09, 2009/10, 2010/11) Finance MBA advisor, Financial Engineering track, 1999-2001
Finance faculty nominee for MBA admissions conversion 2001-2004. Assisting with MBA Placement, 2000/01, 2001/02, 2002/03
PhD Committees and Advising
Chair, Finance PhD committee, 2002/03, 2003/04, 2004/05
Member, Finance PhD committee, 2001/02, 2002/03, 2006/07, 2007/08, 2008/09 Redesign program structure, updating a 3-year old revamp.
Successfully formulated strategies to graduate PhD students.
All students achieved tenure track placements after a gap of about a decade. Involved in student recruitment, advising, review, qualifying and comprehensive exam design and administration, curriculum review.
Several thesis committees (member and/or chair). See list at the end of the resume
Others
Initiated successful effort to fund and bring the WRDS finance research system to UMD TEACHING EXPERIENCE
Courses Taught
• MBA: Finance core, financial strategy, corporate governance • PhD: Discrete time modeling, Empirical research in finance Course Evaluations
• From 4 to 4.7 out of 5 at University of Maryland; 5.1 to 6.6 out of 7 at Yale; 5.5 to 6.9 out of 7 at ISB.
TEACHING AWARDS
Finalist (top 5 school wide) for Krowe award, 2004-2005, University of Maryland. Elective Professor of the Year, 2002/2003, 2003/2004, Indian School of Business Top 15% Teaching Award, 2000/2001, University of Maryland
RESEARCH SEMINARS
American University (2006), University of Alabama (2002), Boston College (1996), University of British Columbia (1994,1999), Boston University (1997), Copenhagen Business School (2003), University of California, Los Angeles (1995), Carnegie Mellon University (1999), Case Western Reserve University (1997), Cornell University (1995), Columbia University (1995), Duke University (2008), University of Georgia (1999), Georgia Institute of Technology, (1995), George Mason University (2009), George Washington University (2003), Hong Kong University of Science and Technology (2003, 2010), ISB (2008, 2010), INSEAD (1998), London Business School (1998), National University of Singapore (2010), University of Maryland (1998), University of
Massachusetts, Amherst (2000), University of Michigan, Ann Arbor (1995), University of Minnesota (2005), University of North Carolina, Chapel Hill (1999), Northern Illinois University (2005), NTU Singapore (2010), NUS Singapore (2010), Ohio University (2004), Purdue University (1995), Rice University (2006), Rutgers University (1995, 2004), Singapore Management University (2010), Southern Methodist University (2011), Stanford (1998), Stockholm School of Economics (1998), Temple (2011), Tulane
University (2000), University of Virginia (2000), Vanderbilt University (2004), Virginia Polytechnic Institute and State University (1998), Washington University, St. Louis (1998), Wilfrid Laurier University (2008), Yale University (1999, 2006)
DOCTORAL ADVISING
Active advisor or chair for following students (initial placement in parentheses) Aysun Alp (Sabanci), Federico Bandi (Chicago), Les Gulko (General Reinsurance), Levent Guntay (Indiana), Charlotte Hansen (CUNY Baruch), April Knill (Florida State University), Matthew Kozora (SEC), Nitin Kumar (thesis in progress), Haitao Li (Cornell), Yun Liu (University of California, Riverside), Kristina Minnick (Bentley College), Hernan Ortiz Molina (UBC), Katie Moon (thesis in progress), Subhankar Nayak (Georgia Tech), Kumar Pratap (IAS), Tracy Yue Wang (Minnesota), Liu Yang (UCLA).
CITATIONS
304 SSCI journal cites to papers excluding working papers and publications after 2009. 1,455 citations on Google scholar
VISA STATUS U.S. Citizen
