Drs. Vivek Bhargava, interim dean for the ASU School of Business and MBA Program director, and Akash Dania, assistant professor of finance, have had a very productive research year during which they published a number of manuscripts in some the most credited, peer-reviewed finance journals.
Using some of the most advanced financial modeling and econometrics techniques available, their research answers important questions on a variety of topics that benefit practitioners, academicians and policy makers. Their contributions have put Alcorn State University and its School of Business on the international research list. Five collaborative research manuscripts by Drs. Bhargava and Dania were recently published or accepted for publication.
The manuscript Industry Effects and Volatility Transmission in Portfolio Diversification was accepted for publication in the Journal of Asset Management. This research answers questions pertaining to the returns behavior and volatility spillover mechanism among International biotechnology sector indices. Given that the biotechnology sector is relatively new, very little is known about the behavior of this complex sector’s returns, and their volatility transfer mechanism from one market to another. This research models the returns and volatility transmission behavior for leading International Biotechnology markets.
The Impact of REOCs and Public Mortgage Finance Companies on the Performance and Volatility of U.S. REITs was published in the Journal of Real Estate Portfolio Management, 2010, Vol 16, No. 3, 279-288. The manuscript discusses the importance of the real estate sector to the overall U.S. economy. The recent economic recession was accelerated due to the breakdown of the U.S. real estate sector. This breakdown rapidly transferred over to U.S. and global financial markets. To understand how real estate markets themselves behaved, this research models the dynamic linkages among the real estate investing vehicles available in the U.S; namely the Real Estate operating companies, mortgage finance companies, and real estate investment trusts. For its importance, this manuscript was selected for presentation at the annual meeting of the Financial Management Association (FMA, 2010), and later for publication at in leading finance journal, the Journal of Real Estate Portfolio Management.
The research manuscript Relationship between Price Earning Ratios, Dividend Yield, and Stock Prices: Evidence from BRIC Countries has been accepted for publication in the Journal of Emerging Markets. It explains whether there is a relation between price earning ratios, dividend yield and stock prices from firms based in BRIC nations, i.e. Brazil, Russia, India and China. As pointed out by the editor of the journal, this study provides significant and highly important results that are important to investors, academicians and policy makers as the BRIC economies are among the fastest growing ones of the world. Moreover, very little is known about the behavior of stock prices in these countries and what impacts their behavior.
The manuscript Information Dynamics Effects from Major World Markets to SAARC Nations has been accepted for publication in the Journal of Economics and Finance. This research investigates the impact of major world equity markets on four founding countries of the South Asian Association for Regional Cooperation. With a population of 1.47 billion, SAARC is the largest regional organization in the world. However, the issue of global integration of equity markets of the SAARC nations has largely been ignored. Using advanced financial modeling, this study fills this major gap, adding results towards the ongoing debate concerning the issue of global market integration.
Another manuscript accepted for publication in the Journal of Business and Economic Studies is titled Covered Interest Rate Parity in BRIC Nations. Among the fundamental tenets of international finance is covered interest rate parity, aka CIRP. This relation stipulates that exchange rate forward premiums (discounts) offset interest rate differentials between two nations. This paper examines the role of arbitrage opportunity, transaction costs, credit and political risk in apparent deviations in CIRP for BRIC nations.
Dr. Dania is a designated graduate faculty member for the School of Business. He received his doctoral degree with a concentration in finance and master’s degree in computer science from the University of Texas, Pan American. He has published his research in several journals such as the Journal of Multinational Financial Management, Journal of Real Estate Portfolio Management, Journal of Commerce and Management, Journal of Asia Business Studies and presented on financial consequences of terrorism, investments, portfolio management and banking at a number of conferences such as the Financial Management Association Conference, Academy of Economics and Finance, and Academy of International Business Studies. His professional affiliations include the Financial Management Association, Academy of Economics and Finance, and Federation of Business Discipline. He has reviewed for the Journal of Multinational Financial Management and Journal of International Business Studies. A resident of Natchez, Mississippi, Dr. Dania serves on the City of Natchez Mayor’s Advisory Committee for Technology.
Dr. Bhargava received his doctoral degree in finance from the University of Alabama in 1996. He also holds a master’s in business administration and a bachelor’s degree in chemical engineering. He is the only person in Natchez and southwest Mississippi to hold the designation of CFA or Chartered Financial Analyst. Dr. Bhargava has published over 25 research papers in the field of investment and derivatives in nationally and internationally recognized blind review journals including Journal of Portfolio Management, Financial Review, Journal of Multinational Financial Management, International Journal of Finance, European Journal of Finance, Research in Finance, Journal of Financial Counseling and Planning and other journals. He has made several presentations for various groups, including over 50 presentations at national and international academic conferences. In addition, he is one of the founding members and 2006 and 2010 president of Society of Business, Industry and Economics. Dr. Bhargava serves as the editor of the Proceedings of the SOBIE conference and is on the editorial board of International Journal of Management Research. He was adjudged Educator of the Year by the Natchez Chamber of Commerce in 2006. He served on the board of directors for the Chamber from August 2009 to August 2010. Currently he serves on the board of the Miss-Lou United way. He is married to Dr. Anubha Jati, neurologist, and they have two sons.