Faculty & Research

Sunil K. Mohanty

Professor : Finance Department
 

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Dr. Sunil Mohanty teaches corporate finance, financial markets and institutions in the undergraduate and UST MBA programs. Before joining the University of St. Thomas, he taught at Hofstra University in Long Island, New York. He has taught as a visiting professor at the Budapest University of Technology and Economics in Hungary, and at the Polytechnic Institute of Vienna de Castelo in Portugal. Dr. Mohanty also has been a Fulbright Scholar, Visiting Research Scholar and University Scholar at the University of St. Thomas.

Dr. Mohanty's research focuses on understanding the efficiency of financial markets, the relation between oil shocks and stock prices, and the effects of capital regulations on bank stock risk and return. He has published numerous articles in scholarly journals, such as the Journal of Business, the Journal of International Money and Finance, the Journal of Financial Research, the Financial Review, the Energy Economics, the Financial Markets Institutions & Instruments, the Federal Reserve Bank of Atlanta Economic Review, the Review of Quantitative Finance and Accounting, Journal of INternational Financial Markets, Institutions and Money, the Multinational Finance Journal, the Emerging Markets Review, the Review of Pacific Basin Financial Markets and Policies, the Global Finance Journal, the Japan and the World Economy, the Journal of Real Estate Research, the Applied Financial Economics and the Financial Practice and Education.

Dr. Mohanty has been an ad hoc reviewer for a number of finance journals, including the Journal of Banking and Finance and the Journal and International Money and Finance. He served as a track chair (financial institutions) for the 2012 Eastern Finance Conference. He serves on the editorial board of the Managerial Finance, the Advances in Financial Planning and Forecasting, and the European Research Studies Journal (ERSJ).

 Dr. Mohanty has taught in the CFA Review program (level I and II) at the University of St. Thomas. He also has worked on a consulting project with the Minnesota Bankers Association in Minneapolis, Minnesota.

Dr. Mohanty received his doctorate in business administration (D.B.A.) from Cleveland State University (Ohio), his M.B.A. from the Minnesota State University (Mankato), and his B.S. in civil engineering from the Indian Institute of Technology (I.I.T.), India.

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Academic Background

B.Tech. (Hons) civil engineering, Indian Institute of Technology (India)
M.B.A., Minnesota State University - Mankato
D.B.A., finance, Cleveland State University


Research Specialties

  • Financial institutions and markets
  • Asset pricing 
  • International banking
  • Regulations of credit unions and commercial banks
  • Deregulation, competition and U.S. banking industry performance


Current Research

  • International capital standards - Basel III, bank portfolios and bank stock risk
  • Lending activities of foreign banks in the U.S.
  • Capital Structure Decisions
  • Cost and profit efficiencies of banks 
  • Oil Price Shocks and Stock Prices


Major Works

  • Mohanty, S. K., W. T. Lin, and H. J. Lin, "Measuring Cost Efficiency in Presence of Heteroskedasticity: The Case of the Banking Industry in Taiwan," Journal of International Financial Markets, Institutions and Money 26 (2013): 77-90. 
  • Mohanty, Sunil, Aigbe Akhigbe, T. Al-Khyal and Turki Bugshan, “Oil and Stock Market Activity When Prices Go Up and Down: The Case of the Oil and Gas Industry," Review of Quantitative Finance and Accounting 41:2 (2013): 253-272.
  • Aggarwal, Raj, Aigbe Akhibe, and Sunil Mohanty, “Oil Price Shocks and Transportation Firm Asset Prices,” Energy Economics 34:5 (2012): 1370-1379.
  • Mohanty, Sunil and Mohan Nandha, “Oil Risk Exposure: The Case of the U.S. Oil and Gas Sector,” Financial Review 46:1 (2011): 165-191.
  • Mohanty, Sunil, Mohan Nandha, A. Turkistani and Y. Alaitani, “Oil Price   Movements and Stock Market Returns: Evidence from Gulf Cooperation Council (GCC) Countries,” Global Finance Journal 22:1 (2011): 42-55.
  • Yildirim, S. and Sunil Mohanty, "Geographical Deregulation and Competition in the U.S. Banking Industry" Financial Markets Institutions and Instruments 19:2 (2010): 63-94.
  • Mohanty, Sunil, Mohan Nandha and Gabor Bota, "Oil Shocks and Stock Returns: The Case of the Central and Eastern European (CEE) Oil and Gas Sector," Emerging Markets Review (Elsevier) 11 (2010): 358-372.
  • Aggarwal, R., B. Lucey and Sunil Mohanty, "The Forward Exchange Rate Bias Puzzle is Persistent: Evidence from Stochastic and Nonparametric Cointegration Test,"  Financial Review 44:4 (2009): 625-645.
  • Aggarwal, Raj, Winston T. Lin and Sunil Mohanty, "Are Forward Exchange Rates Rational Forecasts of Future Spot Rates? An Improved Econometric Analysis for the Major Currencies," Multinational Finance Journal 12 (March/June, 2008): 1-20.
  • Rai, A., R. Seth, and Sunil Mohanty, "The Impact of Discount Rate Changes on Market Interest Rates: Evidence from three European Countries and Japan," International Journal of Money and Finance 26 (2007): 905-923. 
  • Mohanty, Sunil and Edward Aw, "Rationality of Analysts’ Earnings Forecasts: Evidence from DOW 30 Companies," Applied Financial Economics 16:12 (2006): 915-926.
  • "International Capital Standards, Bank Portfolios and Bank Stock Risk," Applied Financial Economics 12 (2002): 527-534.
  • Aggarwal, Raj and Sunil Mohanty, "Rationality of Japanese Macroeconomic Survey Forecasts: Empirical Evidence and Comparisons with the U.S.," Japan and the World Economy 12:1 (2000): 21-31.
  • Seth, R., D.E. Nolle and Sunil Mohanty, "Do Banks Follow Their Customers Abroad?" Financial Markets, Institutions and Instruments 7:4 (August, 1998): 1-25.
  • Liang, Y., Sunil Mohanty and F. Song, "Impact of the Federal Deposit Insurance Corporation Improvement Act (FDICIA) of 1991 on Bank Stocks,"  The Journal of Financial Research 19:2 (Summer, 1996): 229-242.
  • Aggarwal, R., Sunil Mohanty and F. Song, "Are Survey Forecasts of Macroeconomic Variables Rational?" The Journal of Business 68:1 (January, 1995): 99-119.
  • Wall, Larry D., Alan K. Reichert and Sunil Mohanty, "Deregulation and the Opportunities for Commercial Bank Diversification," Federal Reserve Bank of Atlanta Economic Review 78:5 (1993): 1-25. Reprinted in the Readings on Financial Institutions and Markets, edited by Peter S. Rose, (1995-1996): 97-121.
  • Reichert, Alan K., Mike Small and Sunil Mohanty, "The Impact of Landfills on Residential Property Values," Journal of Real Estate Research 7:3 (1992): 97-314.


Significant Scholarly Honors

  • Track Chair, Eastern Finance Association Meeting, 2012 (Financial Institutions)
  • University Scholar, University of St. Thomas
  • Fulbright Scholar
  • Visiting Research Scholar


Editorial Board Membership

  • Managerial Finance
  • Advances in Financial Planning and Forecasting
  • European Research Studies Journal