Faculty & Research

Thadavillil Jithendranathan

Professor : Finance Department
 

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Thadavillil Jithendranathan has taught various topics in finance at the graduate and undergraduate level for the past 21 years in the United States, Russia and Taiwan. Before his academic career, he worked for six years for a multinational firm in Africa as a finance controller and chief executive officer. He has widely traveled in Asia, Africa, Europe and North America.

Jithendranathan has research interests in international finance, derivative securities, corporate finance and banking. In 1993 he won the Oscar Larson award for the best dissertation in business from Baruch College, New York. In 1999 he won the Competitive Research Paper award at the Pacific Basin Financial Management Conference in Singapore.

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Academic Background

B. Sc., Calicut University, India
Qualifying exam Institute of Chartered Accountants of India
M.B.A., Baruch College, CUNY, New York
M. Phil., City University of New York
Ph.D., City University of New York


Research Specialties

  • International finance 
  • Derivative securities
  • Corporate finance


Current Research

  • Volatility spillovers
  • Family business IPOs
  • Australian superannuation funds
  • Russian derivatives markets


Major Works

  • Jithandrenathan, Thadavillil and Mary Schmid Daugherty, "Underpricing of IPOs of U.S. Family Controlled Businesses," International Research Journal of Finance and Economics 90 (2012): 193-206.
  • Jithandrenathan, Thadavillil and David O. Vang, "Impact of Single Stock Futures on the Volatility of Underlying Russian Stocks," Global Business and Finance Review 15:2 (2010): 156-168.
  • Gupta, Rakesh and Thadavillil Jithandrenathan, "Transmission of Volatility Across Markets: A Study of Co-Movement Between Australian and Emerging Equity Markets," Advances in Financial Planning and Forecasting 4 (2010): 93-116.
  • Gupta, Rakesh and Thadavillil Jithandrenathan, "Short Selling Restrictions and Efficiency of Emerging Options Market: A Study of Indian Stock Index Options," International Research Journal of Finance and Economics 46 (2010): 99-109.
  • Jaiswal-Dale, Ameeta and Thadavillil Jithandrenathan, "Transmission of Shocks from Cross-Listed Markets to the Return and Volatility of Domestic Stocks," Journal of Multinational Financial Management 19:5 (2009): 395-408.
  • Odinaeva, Lola V., David O. Vang and Thadavillil Jithendranathan,"Spatial Integration and Price volatility of Russian Regional Wheat Markets," International Journal of Business and Economics Perspectives 4/1 (2009): 18-32.
  • Cha, Heung-Joo and Thadavillil Jithendranathan, "Time-varying Correlations and Optimal Allocation in Emerging Market Equities for the US Investors," International Journal of Finance and Economics 14:2 (2009): 172-187.
  • Gupta, Rakesh and Thadavillil Jithendranathan, "Time-Varying Correlations and Optimal Allocation in Emerging Market Equities for Australian Investors: A Study Using East European Depositary Receipts," International Research Journal of Finance and Economics 18 (2008): 127141.
  • "Homogeneous Beliefs, Trading Volume and Co-movements of Stock Market Returns: A Study of Russian and the US Markets," Global Business and Finance Review 13:1 (2008): 2334.
  • "An Empirical Study of Pricing and Trading Volume of Russian Depositary Receipts," Investment Management and Financial Innovations 3:3 (2006): 6079.
  • "What Causes Correlations of Equity Returns to Change Over Time? A Study of the US and the Russian Equity Markets," Investment Management and Financial Innovations 4 (2005): 69-79.
  • Daugherty, Mary Schmid and Thadavillil Jithendranathan, "International Diversification: A Comparison of Performance of American Depository Receipt Indices and Country Funds," Financial Decisions 14:1 (2004): 1-26.
  • Kravchnko, N. and Thadavillil Jithandrenathan, "Inregracia possiiskogo i mirovogo rynka akcii: vlianie finansovogo krizisa 1998 g. (Integration of Russian Equity Markets with World Equity Markets Effects of the Russian Financial Crisis of 1998)," Vestnik NGU, Novosibirsk, Russia 3:1 (2003): 38-50. 
  • Jithandrenathan, Thadavillil, T.R. Nirmalanandan and K. Tandon, "Barriers to International Investing and Market Segmentation: Evidence from Indian GDR Market," Pacific Basin Finance Journal 8 (2000): 399-417.
  • Bresser, Rudi K.F, R. Dunbar and Thadavillil Jithandrenathan, "Competitive and Collective Strategies: An Empirical Examination of Strategic Groups," Advances in Strategic Management 10B (1994).


Book Chapter

  •  "Investing in Initial Public Offerings and Depository Receipts." In Investment Management, edited by S. R. Vishwanath and Chandrasekhar Krishnamurti, published by Springer, forthcoming.
  • Cha, Heung-Joo, Jaebeom Kim, and Thadavillil Jithendranathan, "How Integrated are the Equity and Debt Markets?  A Comparative Study of Japanese and the US Capital Markets." Japanese Fixed Income Markets: Money, Bond and Interest Rate Derivatives, edited by Jonathan Batten, Thomas Fetherston and Peter G. Szilagyi, Elsevier, 2006.
  • "An Empirical Study of Time-Varying Return Correlations and Efficient Set of Portfolios. In Advances in Portfolio Management, edited by Greg N. Gregoriou. Palgrave Macmillan, 2007.


Conference Presentations

  • "Looking at new markets for international diversification: frontier markets perspective." Paper accepted for presentation at the 24th Australasian Finance and Banking Conference, Sydney, Australia, December, 2011.
  • "Do Australian Managed Funds Investors Exhibit Return Chasing Behavior?" Paper presented at the 23rd Australasian Finance and Banking Conference, Sydney, Australia, December 2010.
  • "The role of innovative entrepreneurship in technological transfer (experience of the comparative study). Presented at the XI International Academic Conference on Economic and Social Development. Moscow, Russia, April 6-8, 2010.
  • "Impact of Single Stock Futures on the Volatility of Underlying Indian Stocks." Paper presented at 17th Annual South Dakota International Business Conference, Rapid City, South Dakota, September 30-October 3, 2010.
  • "Underpricing of IPOs of U.S. Family Controlled Businesses." Paper presented at the Oxford Business and Economics Conference, Oxford, England, June 24-26, 2009.
  • "Spatial Integration and Price Volatility of Russian Regional Wheat Markets." Paper presented at the Winter Conference of the International Academy of Business and Public Administration Disciplines, Orlando, Florida, January 2009.
  • "Short Selling Restrictions and Efficiency of Emerging Options Market: A Study of Indian Stock Index Options." Paper presented at the Ninth International Conference on Management of Transformation, Delhi, India, January 2008.
  • "Homogeneous Beliefs, Trading Volume and Co-movements of Stock Market Returns: A Study of Russian and the US Markets." Paper presented at the Midwest Finance Association Conference, Minneapolis, Minnesota, March 2007.
  • "Time-varying Correlations and Optimal Allocation in Emerging Market Equities for Australian Investors: A Study Using East European Depositary Receipts." Paper presented at the First All China Economic Conference, Hong Kong, China, December 2006.
  • "An Empirical Study of Pricing and Trading Volume of Russian Depositary Receipts." Paper presented at the Winter Conference of the International Academy of Business and Public Administration Disciplines, Orlando, Florida, January 2006.
  • "IPO Pricing in the Context of Family Controlled Businesses." Paper presented at the International Applied Business Research Conference in Puerto Vallarta, Mexico, March 2005.
  • "Time-varying Correlations of U.S. and Russian Equity Returns." Paper presented at the Fourth Annual Hawaii International Conference on Business, Hawaii, June 2004.


Significant Scholarly Honors

  •  Competitive Research Award given by the International Academy of Business and Public Administration Disciplines at the Winter Conference (2009).
  • Competitive Research Award given by the International Academy of Business and Public Administration Disciplines at the Winter Conference (2006).
  • Competitive Research Award for outstanding research paper given by the PACAP/Financial Management Association (1999).
  • Oscar Lasdon Award for the best dissertation in the Business Program of the City University of New York (1993).