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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, bank portfolios and bank stock risk
• Lending activities of foreign banks in the U.S.
• Cost and profit efficiencies of banks 

Major Works

• "The Forward Exchange Rate Bias Puzzle is Persistent: Evidence from Stochastic and Nonparametric Cointegration Test," with R. Aggarwal and B. Lucey, Financial Review, forthcoming.
• "The Impact of Discount Rate Changes on Market Interest Rates: Evidence from three European Countries and Japan," with A. Rai and R. Seth, International Journal of Money and Finance, Vol. 26,  pp. 905-923, 2007. 
• “Do Banks Follow Their Customers Abroad?,” with R. Seth and D.E. Nolle. Financial Markets, Institutions and Instruments, Vol. 7 (4), pp. 1-25, August 1998.
• “Impact of the Federal Deposit Insurance Corporation Improvement Act (FDICIA) of 1991 on Bank Stocks,” with F. Song and Y. Liang, The Journal of Financial Research, Vol. 19 (2), pp. 229-242, Summer 1996.
• “Are Survey Forecasts of Macroeconomic Variables Rational?” with R. Aggarwal and F. Song. The Journal of Business, Vol. 68 (1), pp. 99-119, January 1995.

Significant Scholarly Honors

• University Scholar, University of St. Thomas
• Fulbright Scholar
• Visiting Research Scholar