Dean’s Council Distinguished Scholar
Ph.D. in finance, Stern School of Business, New York University, 2003; MBA in finance, Indian Institute of Management, Ahmedabad, India, 1993; B. Tech in mechanical engineering, IIT, Madras, India, 1991
Credit Risk; Corporate Finance; and Banking
“Does Shareholder Rights Affect Syndicate Structure? Evidence from a Natural Experiment,” Sandeep Dahiya and Issam Hallak
“Agency Costs, Bank Specialness and Renegotiation”
“How Do Banking Relationships Affect Corporate Liquidity?” with Yakov Amihud and Anthony Saunders
Academic Positions Held
Arizona State University: 2010-Present, Associate professor of finance; University of Michigan, Ross School of Business: 2002-2010, Assistant professor of finance
Career and Recent Professional Awards; Teaching Awards
The Bank One Corporation Assistant Professor of Business Administration - Ross School of Business, University of Michigan 2009-2010 School wide Research Award; LECG Best Paper Award in Corporate Finance at the 2007 European Finance Association Annual Meetings - “Why do Firms Use Private Equity to Opt Out of Public Markets?”; Journal of Financial Economics Best Paper in Capital Markets and Asset Pricing, Second (Fama/DFA) Prize, 2007 – “Does Industry-wide Distress Affect Defaulted Firms? – Evidence from Creditor Recoveries”; Fannie Mae Best Paper Award in Financial Institutions and Markets at the 2004 Financial Management
Association Annual Meetings - “So What do I Get: A Bank’s View of Lending Relationships?”; Caesarea Center 5th Annual Academic Conference Best Paper Award, IDC Herzliya 2008 Meeting, Israel “The Changing Nature of Chapter 11”
“Lending Relationships and Loan Contract Terms,” with Sandeep Dahiya, Anthony Saunders and Anand Srinivasan, Review of Financial Studies, 2011
“Why do Firms Use Private Equity to Opt Out of Public Markets?” (Lead Article) (with Amy Dittmar), Review of Financial Studies 23, 2010, pp.1771-1818.
“Forecasting Default with the Merton Distance-to-Default Model,” with Tyler Shumway, Review of
Financial Studies 21(3), 2008, pp.1339-1369
“Liquidity Risk of Corporate Bond Returns,” with Viral Acharya and Yakov Amihud (Forthcoming, Journal of Financial Economics)
ASU is a tier 1 research university and W. P. Carey is proud of its strong tradition of teaching and classroom excellence. Our students directly benefit from the research and theories our faculty brings into the classroom. Below is a list of courses being taught during the current semester by this faculty member. Click a course to view it in the ASU course catalog.
FIN 565 - Risk Mgmt in Banks & Fncl Inst
Provides a risk management view of financial institutions (also known as financial intermediaries). Traditionally, banking courses have focused on an overview of the financial services industry, sector by sector, concentrating on balance sheet presentations and overlooking management decision making and risk management. In contrast, this course emphasizes a risk management approach.