Thadavillil Jithendranathan

Full Professor, Finance

2110 Summit Ave
McNeely Hall 327
St. Paul, MN 55105

Ph.D., Finance, City University of New York
M.Phil., Business, City University of New York
M.B.A., Finance, City University of New York - Baruch College
B.Sc., Chemistry, Calicut University

See my articles and publications

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.

Fall 2014 Courses
Fall 2014 Courses
Crs - Sec Title Days Time Location
FINC 321 - 08 Financial Management - T - R - - - 1525 - 1700 MCH 236
Description of course Financial Management : CRN: 42715
An examination of the elements of the finance function of the organization as well as the financial analysis of decisions. Topics include working capital management, acquisition of capital, capital budgeting, cost of capital, theories of valuation, and present value. Prerequisites: ACCT 210, ACCT 215, STAT 220 (MATH 313 or STAT 314 for actuarial majors), ECON 251, 252, and junior standing.

Schedule Details

Location Time Day(s)
FINC 324 - 01 Corporate Finance - T - R - - - 0955 - 1135 MCH 116
Description of course Corporate Finance : CRN: 42717
Scope and objectives of financial management in the corporate setting at an advanced level. The course will explore working capital management, risk, valuation, capital structure theory, capital budgeting and other current topics in finance. It will utilize computer-based financial modeling and forecasting. Prerequisites: FINC 321, MATH 109 or 111 or 113 (may be taken concurrently), and CISC 200 (applies to students under the 2012-14 catalog or later and may be taken concurrently).

Schedule Details

Location Time Day(s)
FINC 324 - 02 Corporate Finance - T - - - - - 1730 - 2115 MCH 116
Description of course Corporate Finance : CRN: 42718
Scope and objectives of financial management in the corporate setting at an advanced level. The course will explore working capital management, risk, valuation, capital structure theory, capital budgeting and other current topics in finance. It will utilize computer-based financial modeling and forecasting. Prerequisites: FINC 321, MATH 109 or 111 or 113 (may be taken concurrently), and CISC 200 (applies to students under the 2012-14 catalog or later and may be taken concurrently).

Schedule Details

Location Time Day(s)
J-Term 2015 Courses
J-Term 2015 Courses
Crs - Sec Title Days Time Location
Spring 2015 Courses
Spring 2015 Courses
Crs - Sec Title Days Time Location
FINC 480 - 01 Strategic Finance - T - R - - - 1330 - 1510 MCH 115
Description of course Strategic Finance : CRN: 21984
Building on the finance theory learned in prior courses, this course focuses on financial strategies for a broad range of finance issues faced by corporations including capital budgeting, capital raising, optimal capital structure, dividend policy, and corporate restructuring and mergers and acquisitions. This is an applied, case-based course the students will be engaged in extensive case analysis, discussion, and presentations to develop and refine analytical skills. Prerequisites: FINC 324, MATH 109 or 111 or 113, and BETH 301

Schedule Details

Location Time Day(s)
FINC 480 - 02 Strategic Finance - T - - - - - 1730 - 2115 MCH 110
Description of course Strategic Finance : CRN: 21985
Building on the finance theory learned in prior courses, this course focuses on financial strategies for a broad range of finance issues faced by corporations including capital budgeting, capital raising, optimal capital structure, dividend policy, and corporate restructuring and mergers and acquisitions. This is an applied, case-based course the students will be engaged in extensive case analysis, discussion, and presentations to develop and refine analytical skills. Prerequisites: FINC 324, MATH 109 or 111 or 113, and BETH 301

Schedule Details

Location Time Day(s)
Academic and Professional Positions
  • Professor, University of St. Thomas, St. Paul / Minneapolis (2009 - present)
  • Associate Professor, University of St. Thomas, St. Paul / Minneapolis (1997 - 2009)
  • Assistant Professor, University of St. Thomas, St. Paul / Minneapolis (1993 - 1997)
  • Finance Instructor and Adjunct Lecturer, City University of New York - Baruch College, New York (1990 - 1993)
  • Accounting Adjunct Lecturer, Queens College, New York (1992 - 1993)
  • C.E.O., Assan Industries Nigeria Ltd, (1984 - 1986)
  • Chief Financial Officer, Fablon Ltd, (1981 - 1984)
  • Consultant, L. H. Udani & Co, (1979 - 1981)
  • Accounting Lecturer, Combined College, Trichur (1977 - 1979)

Professional Service
  • AIMS International Journal of Management, Editor
  • American Siberian Education Foundation,

Major Works
  • Daugherty, M. S., & Jithendranathan, T. (forthcoming). Volatility spillovers in frontier markets.
  • Gupta, R., Jithendranathan, T., & Sukumaran, R. (forthcoming). Looking at new markets for international diversification: Frontier markets. International Journal of Managerial Finance,
  • Havlicek, D., & Jithendranathan, T. (forthcoming). Inferring investor behavior from fund flow patterns of Czech open-end mutual funds. Journal of Behavioral Finance and EconomicsJournal of Behavioral Finance & Economics,
  • Kravchenko, N. A., Kuznetsova, S. A., Yusupova, A., Jithendranathan, T., Lundsten, L. L., & Shemyakin, A. (forthcoming). A comparative study of regional innovative entrepreneurship in Russia and the United States. Journal of Small Business and Enterprise DevelopmentSmall Business and Enterprise Development,
  • Jithendranathan, T. (2013). Market Microstructure in Emerging and Developed Markets. In H. Kent Baker, Halil Kiymaz (Ed.), Financial market contagion Ch. 7 (pp. 115-133). Kolb Series in Finance, Essential Perspectives
  • Daugherty, M. S., & Jithendranathan, T. (2012). Underpricing of IPOs of U.S. family controlled businesses. International Research Journal of Finance and Economics, (90), pp. 193-206
  • Gupta, R., & Jithendranathan, T. (2012). Impact of single stock futures on the volatility of underlying Indian stocks. International Research Journal of Finance and Economics, (99), pp. 152-168
  • Jithendranathan, T., & Gupta, R. (2012). Fund flows and past performance in Australian managed funds. Accounting Research Journal, (25)(2), pp. 131-157
  • Gupta, R., & Jithendranathan, T. (2011). Transmission of volatility across markets: A study of co-movement between Australian and emerging equity markets. Advances in Financial Planning and Forecasting, (4), pp. 93-116
  • Gupta, R., & Jithendranathan, T. (2010). Short selling restrictions and efficiency of emerging options market: A study of Indian stock index options. International Research Journal of Finance and Economics, (46), pp. 99-109
  • Jithendranathan, T., & Gupta, R. (2010). Fundamentals of financial management: A practical approach. India India: Vikas Publications
  • Jithendranathan, T., & Vang, D. O. (2010). Impact of single stock futures on the volatility of underlying Russian stocks. Global Business and Financial Review, (15)(2), pp. 156-168
  • Cha, H., & Jithendranathan, T. (2009). Time-varying correlations and optimal allocation in emerging market equities for the U.S. investors. International Journal of Finance and Economics, (14)(2), pp. 172-187
  • Jaiswal-Dale, A., & Jithendranathan, T. (2009). Transmission of shocks from cross-listed markets to the return and volatility of domestic stocks. Journal of Multinational Financial Management, (19)(5), pp. 395-408
  • Jithendranathan, T. (2009). Investment Management. In S.R. Vishwanath and Chandrasekhar Krishnamurti (Ed.), Investing in initial public offerings and depository receipts. Springer
  • Jithendranathan, T., Odinaeva, L. L., & Vang, D. O. (2009). Spatial integration and price volatility of Russian regional wheat markets. International Journal of Business and Economic Perspectives, (4)(1), pp. 18-32
  • Gupta, R., & Jithendranathan, T. (2008). 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), pp. 127-141
  • Jithendranathan, T. (2008). Homogeneous beliefs, trading volume and co-movements of stock market returns: A study of Russian and the U.S. markets. Global Business and Financial Review, (13)(1), pp. 23-34
  • Cha, H., Jithendranathan, T., & Kim, J. (2006). Japanese Fixed Income Markets: Money, Bond and Interest Rate Derivatives. In Jonathan Batten, Thomas Fetherston and Peter G. Szilagyi (Ed.), How integrated are the equity and debt markets? A comparative study of Japanese and the U.S. capital markets Ch 14. Elsevier
  • Jithendranathan, T. (2006). An empirical study of pricing and trading volume of Russian depositary receipts. Investment Management and Financial Innovations, (3)(3), pp. 60-79
  • Jithendranathan, T. (2006). Advances in Portfolio Management. In Greg N. Gregoriou. (Ed.), An empirical study of time-varying return correlations and efficient set of portfolios Ch 14 (pp. 265-277). Palgrave Macmillan
  • Jithendranathan, T. (2005). What causes correlations of equity returns to change over time? - A study of the U.S. and the Russian equity markets. Investment Management and Financial Innovations, (2), pp. 69-79
  • Daugherty, M. S., & Jithendranathan, T. (2004). International diversification: A comparison of performance of American depository receipts indices and country funds. Financial Decisions,
  • Jithendranathan, T. (2003). Can China maintain a cheap Yuan policy?. MIM World, (17)(4),
  • Jithendranathan, T., & Kravchenko, N. (2003). 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, (T.3)(1), pp. 38-50
  • Jithendranathan, T., Nirmalanandan, T. R., & Tandon, K. (2000). Barriers to international investing and market segmentation: Evidence from Indian GDR market. Pacific-Basin Finance Journal, (8), pp. 399-417
  • Jithendranathan, T., Bresser, R. K., & Dunbar, R. (1994). Competitive and collective strategies: An empirical examination of strategic groups. (10B),

Research Interests
  • Corporate Finance
  • Derivatives
  • Economic Markets - Domestic
  • Economic Markets - International
  • Family Business
  • Initial Public Offerings (IPOs)

Awards and Honors
  • Highly Commended Award Winner, Literati Network Awards for Excellence, 2013
  • International Academy of Business and Public Administration Disciplines, 2009
  • International Academy of Business and Public Administration Disciplines, 2006
  • Business Program of the City University of New York, 1993
  • PACAP/Financial Management Association, 1999

Presentations
  • "Volatility spillovers in frontier markets" Charles Strut University - Australia Finance Seminar Series, Australia, April 16, 2014
  • "Portfolio optimization using multiple attribute decision making models with correlation coefficient and standard deviation integrated approach" Griffith University - Australia Finance Seminar Series, Australia, April 14, 2014
  • "Financial market contagion" International Conference on Engineering and Business Management, Wuhan, China, March 01, 2013
  • "How does the derivative trading activity affect the underlying asset returns and Volatility? A study of Indian equity markets." AIMS - Association of India Management Scholars, Bangalore, India, January 01, 2013
  • "Indian derivative markets" Indian Institute of Management, Kozhikode, India, January 01, 2013
  • "Financial market contagion" Minnesota Center for Financial and Actuarial Mathematics - University of Minnesota, Minneapolis, Minnesota, November 01, 2012
  • "Inferring investor behavior from fund flow patterns of Czech open-end mutual funds" Academy of Behavioral Finance & Economics, New York, NY, September 01, 2012
  • "Intraday volume and volatility patterns of Russian single stock futures and stocks" East Asian Financial Conference, Taipei, Taiwan, May 01, 2012
  • "Volatility spillovers in frontier markets" International Social Sciences & Management Conference, Dubai, U.A.E., January 01, 2012
  • "Looking at new markets for international diversification: Frontier markets perspective" Australasian Finance and Banking Conference, Sydney, Australia, December 01, 2011
  • "Do Australian managed funds investors exhibit return chasing behavior" Australasian Finance and Banking Conference, Sydney, Australia, December 01, 2010
  • "Impact of single stock futures on the volatility of underlying Indian stocks" International Business Conference, South Dakota, October 01, 2010
  • "Applications of univariate and multivariate GARCH models in finance" Applied Probability & Statistics Seminar, Twin Cities, Minnesota, April 01, 2010
  • "The role of innovative entrepreneurship in technological transfer (experience of the comparative study)." Academic Conference on Economic Social Development, Moscow, Russia, April 01, 2010
  • "From institute to the market place optimizing the commercialization of new technology" Innovative Entrepreneurship: Barriers to Develop & Sucess Factors, Novosibirsk, Russia, August 01, 2009
  • "Underpricing of IPOs of U.S. family controlled businesses" Oxford Business & Economics Conference, Oxford, United Kingdom, June 01, 2009
  • "Spatial integration and price volatility of Russian regional wheat markets" International Academy of Business and Public Administration Disciplines, Orlando, Florida, January 01, 2009
  • "Short selling restrictions and efficiency of emerging options market: A study of Indian stock index options" International Conference on Management of Transformation, Delhi, India, January 01, 2008
  • "Homogeneous beliefs, trading volume and co-movements of stock market returns: A study of Russian and the U.S. markets" Midwest Finance Association, Minneapolis, Minnesota, March 01, 2007
  • "Designing finance curriculum and careers in finance" Central Queensland University, Rockhampton, Australia, January 01, 2007
  • "Homogeneous beliefs, trading volume and co-movements of stock market returns: A study of Russian and the U.S. markets." Midwest Finance Association, Minneapolis, Minnesota, January 01, 2007
  • "Research topics in finance." Charles Sturt University, Bathurst, Australia, January 01, 2007
  • "Time-varying correlations and optimal allocation in emerging market equities for Australian Investors: A study using east European depositary receipts" Latrobe University, Melbourne, Australia, January 01, 2007
  • "Time-varying correlations and optimal allocation in emerging market equities for Australian Investors: A study using east European depositary receipts" All China Economics International Conference, Hong Kong, China, December 01, 2006
  • "An empirical study of pricing and trading volume of Russian depositary receipts" International Academy of Business and Public Administration Disciplines, Orlando, Florida, January 01, 2006
  • "IPO pricing in the context of family controlled businesses" International Applied Business Research Conference, Puerto Vallarta, Mexico, March 01, 2005
  • "Time-varying correlations of U.S. and Russian equity returns" Hawaii International Conference on Business, Honolulu, Hawaii, January 01, 2004
  • "Integration of Russian Equity Markets with the World Equity Markets Effects of the Russian Financial Crisis of 1998" FMA-Financial Management Association, San Antonio, Texas, October 01, 2002
  • "Integration of Russian Equity Markets with the World Equity Markets Effects of the Russian Financial Crisis of 1998" EFMA - European Financial Management Association, London, United Kingdom, June 01, 2002
  • "The superiority of ADR's over country funds as a tool for international diversification" EFMA - European Financial Management Association, London, United Kingdom, June 01, 2002
  • "Integration of Russian Equity Markets with the World Equity Markets Effects of the Russian Financial Crisis of 1998" FMA-Financial Management Association, San Antonio, Texas, January 01, 2002
  • "Fluctuating Returns of Dual Listings: Domestic and ADR Markets" Financial Management Association European Conference, Lugano, Switzerland, June 01, 2001
  • "Barriers to International Investing and Market Segmentation: Evidence from Indian GDR market" Financial Management Association - Asian Conference, Singapore, Singapore, January 01, 1999
  • "Variance Decomposition of the Conditional Volatility of Emerging Equity Markets of Latin America" FMA-Financial Management Association, Chicago, Illinois, January 01, 1998
  • "Long-run Performance of ADRs" FMA-Financial Management Association, Honolulu, Hawaii, October 01, 1997
  • "Return, Volatility and Volume Patterns in Foreign Currency Options Market" Pacific Basin Business Conference, Taipei, Taiwan, January 01, 1995