About Us

Name : Dr. Asheesh Pandey

Specialization : Finance

Designation : Professor, Head (Research)

Email : asheesh@iift.edu

Qualification

  1. PhD (Finance) from Department of Financial Studies, Delhi University, 2010.
  2. Post Graduate Diploma in Management (Full-Time) from Indian Institute of Planning & Management, New Delhi specializing in Finance from 2000-2002.
  3. Masters in Commerce from Ramjas College, Delhi University, 1998-2000
  4. Graduation in Commerce from Satyawati College (Morning), Delhi University, 1995-1998.
  5. High School, Kulachi Hans Raj Model School, 1995

Areas of Interest / Specialization

Research Interest: Asset Pricing, Valuations, Corporate Finance, Internatioanl Finance, ESG Investment

Teaching Interest: Corporate Finance, Valuations, Security Analysis and Portfolio manageemnt, Financial Derivatives, International Finance

Work Experience

Industry, Research and teaching experience of around 2 and a half decades at prestigious academic and corporate institutions. Presently working as Professor Finance and Head -MDP at IIFT. 

Academic Administration: Head MDP, Head Research, Editor-Management Journals, Head-Accreditations and Rankings, Organized International Conferences in capacity of Conferene Chair

Publications

A

ABDC & SCOPUS/Web of Science Listed Publications

  1. Yadav,M.,Pandey,A. etal. (2023).Volatility spillover of green bond with renewable energy and crypto market, Renewable Energy. (Elsevier, SCOPUS, Web of Science), 212(928-939)
  2. Pandey,A., & Utkarsh. (2023),“Determinants of positive financial behavior: a parallel mediation model”, International Journal of Emerging Markets. (Emerald, ABDC-B, SCOPUS, Web of Science).
  3. Bushra, Srivastava,S. & Pandey,A. (2023). “Demography of Investors and Behavioral Biases - An Empirical Study”, SCMS Journal of Indian Management, (20)(1), (SCOPUS)
  4. Bushra, Srivastava,S. & Pandey,A. (2023). “Evaluation of Investor's Financial Attitude towards Trading Activity Towards Pandemic”, Purusharth, 15(2),(SCOPUS)
  5. Joshi,R., Pandey,A. & Singh,K. (2023)” Role of risk characteristics on capital structure adjustments: evidence from India, Int. J. Public Sector Performance Management, 12(4), 571-583.(SCOPUS)
  6. Pandey,A., “An empirical analysis of calendar anomalies for Egyptian stock market”, accepteds atJournal of Commerce and accounting Research ( ABDC C )
  7. Sehgal,S. & Pandey, A. (2022) Firm Quality, Price Momentum and Stock Returns: Evidence from India, Investment Analyst Journal, 50 (3), 189-208. (Taylor and Francis, ABDC B and SCOPUS)
  8. Pandey,A. and  Sehgal,S (2021) “Equity Market Anomalies, Asset Pricing and Portfolio Strategies: An Empirical Study for West European Economies ”, Investment Management and Financial Innovation, 18 (2), 245-260.( ABDC B and SCOPUS)
  9. Pandey,A. and Joshi,R., (2021) ”Examining Asset Pricing Anomalies: an European Evidence, Business Perspective & Research,  (ABDC:C, Sage, SCOPUS)
  10. Pandey,A., Mittal A & Mittal A. (2021). “Size Effect Dead or Alive: Evidence from European Markets”, Cogent Economics & Finance, 9(1). (Taylor& Francis, ABDC: B, SCOPOUS, Web of Science)
  11. Pandey and Singh., (2021). “Determinants of Capital Structure of Small and Medium Enterpries in India”, Empirical Economic Letters. 20(Special Issue), 101-113. (ABDC C)
  12. Utkarsh, Pandey, A., Ashta, A., Eli, S., & Sutan,. (2020). “Catch Them Young: Impact of Financial socialization and literacy on Financial well-being of young adults,” International Journal of Consumer Studies, 00:1-11 (Wiley, ABDC: A, Web of Science, SCOPUS)
  13. Pandey, A., (2019). “Equity Market Anomalies, VIX and Asset Pricing: Trading Strategies for India, Indian Economic Journal, 67 (3-4), 279-298 (Sage and ABDC B)
  14. Pandey,.A. and Bhama.V,(2020)Trading Strategies using Share buyback: AN Evidence from India, Investment Management and Financial Innovation, 17(2), 169-182  (ABDC:B, SCOPOUS)
  15. Yadav,M. and Pandey,A., (2019). ” Volatility Spillover between Indian and MINT Stock Exchanges: Portfolio Diversification Strategy”, published at Indian Economic Journal, 67 (3-4), 299-311.(Sage and ABDC:B)
  16. Utkarsh, Pandey, A., Ashta, A., Eli, S., & Sutan. (2020).“Exploration of financial stress indicators in a developing economy,” accepted at Strategic Change: Briefing in Entrepreneurial Finance, 29, 285-292 (ABDC C: Wiley, Web of Science, SCOPUS)  
  17. Pandey,A., & Singh,M. (2020) “Impact of Capital Structure on Firm Performance: Evidence from India”, Empirical Economic Letters, 19, 23-35 (ABDC C)
  18. Pandey A. and Sehgal, S.(2019). “Board Busyness and Firm Performance: Evidence from India”, Theoretical Economics Letters, (9),453-476 (ABDC “B” and ABS1)
  19. Pandey, A., Bhama,V. & Singh,M.(2019). “Recession Impact on Capital Structure Determinants: Evidence from India (2019)”, Journal of Management Research, 19(3), 206-220(ABDC C)
  20. Sehgal.S. and Pandey.A. (2018).“Predicting Financial Crisis by Examining Risk-Return Relationship”, Theoretical Economics Letters, 8(1), 48-71, (ABDC: B)
  21. Pandey A. and Sehgal,S. (2017). “Volatility Effect and the Role of Firm Quality Factor in Returns: Evidence from Indian Stock Market” IIMB Management Review, 29(1), 18–28 (Elsevier Publication, ABDC B, Scopus) 
  22. Pandey A., Singh M. and Mohapatra, A. (2017). “Behaviour of Capital Structure: Evidence from Indian Listed Companies” Asian-African Journal of Economics and Econometrics, 17 (1), 155-173. (ABDC C)
  23. Pandey A. and Mohapatra, A. (2017). “Validation of Fama French Model in Indian Capital Market” International Journal of Economic Research, 14(2), 255-272 (ABDC C, Scopus)
  24. Pandey A. and Sehgal, S. (2016). “Explaining Size effect for Indian Stock Market” Asia-Pacific Financial Market.  vol.23(1),45–68( Springer, ABDC C, Scopus)
  25. Pandey. A. and Singh. M., “Capital Structure Determinants: A Literature Review”, at African Journal of Accounting, Auditing and Finance”, 2015,4,(2), 163-176.(Inderscience Publication, ABDC C)
  26. Sehgal.S. and Pandey.A., (2014) “Profitable Trading Strategies based on Price Multiple Information: Evidence from India”, Afro Asian Journal of Finance and Accounting an Inderscience Journal, 4(4), 408-425 (Inderscinece ABDC C, Scopus).
  27. Sehgal,S. and Pandey,A. (2013) “An Empirical Investigation between Net Stock Issues and Returns in India”, at Management & Labour Studies, Vol.38(4), 505-515 (Sage, ABDC C)
  28. Sehgal,S. and Pandey,A. (2012). “Strategic Allocation, Asset pricing and Prior Return Patterns: Evidence from Indian Commodity Market”, at Vision, Vol.16 (4), 273-281.  (ABDC C, Scopus Indexed, Sage Publication)
  29. Pandey.A. (2012)“Relative Valuation: A sectoral view of Indian Capital Market” at Management & labour Studies, Vol.37.NO. (Sage, ABDC C)
  30. Pandey,A. (2012). “Break Out Nations: In Pursuit of the Next Economic Miracles”, (Book Review) by Ruchir Sharma, Penguin, Allen Lane, ISBN:978-1-846-14556-8, 2012, Vision, 2013, 17 (1): 835-102. (ABDC C,Scopus Indexed, Sage Publication) 
  31. Sehgal.S. and Pandey.A. (2010).“Equity Valuation using Price Multiples: Evidence from India” (International Refereed Journal)Asian Academy of Management Journal of Accounting & Finance, 6(1), 89-108. (ABDC C, Scopus) 
  32. Sehgal.S. and Pandey.A. (2010).“Equity Valuation using Price Multiples: A Comparative study for BRICKS”  in (refereed journal) Asian Journal of Finance and Accounts, 2 (1: E4), 68-91 (ABDC C) 
  33. Sehgal.S. and Pandey.A. (2009). “The behaviour of Price Multiples in India: 1990-2007”, (International Refereed Journal) ‘Asian Academy of Management Journal of Accounting & Finance’. 5 (1, 31)–65. (ABDC C, Scopus) 

Case Publications:

  1. Pandey,A., “Does Momentum Anomaly provides Profitable Trading Strategy in India?”, Sage Business Cases .
  2. Pandey,A., (2021). Marico Ltd: Valuation of Consumer Product Company, published at Sage Business Cases, DOI: http://dx.doi.org/10.4135/9781529764574
  3. Pandey,A., (2021). Investment Strategy using Size Effect: A Case Study for India, published at Sage Business Cases, DOI: http://dx.doi.org/10.4135/9781529761191
  4. Pandey,A.,  (2020) “Amtek Auto Debacle: Financial Statement Analysis, Emerging Markets Case Studies, Emerald 10 (2). (SCOPOUS)
  5. Pandey and Roy, (2016). “Effect of Exchange Rates on Exports: A Case Study for India”, Case Centre, 116-0086-1
  6. Pandey,A.(2013.) “Investments in Indian Sectors: Price Multiple Perspective”, Vision, Vol.17, 169-173. (ABDC C, Scopus Indexed, Sage Publication)

Other Refereed Publications

  1. Pandey and Singh, “Capital Structure Theories: A Review”, AGU International Journal of Management Studies and Research, 5, 2017
  2. Pandey and Singh, (2017) “Mutual Fund Industry in India: An Overview”, International Journal of Academic Research in Social Sciences and Humanities
  3. Published an article,” Stock Selection: A Price Multiple Perspective” at Dalal Street Investment journal Magazine, Mar23-Apr5, 2015 Issue
  4. Pandey, A., “Earnings Per share or Book Value: Superior Value Driver in Equity Valuations” at IIMS Journal of Management Science (IIM Shillong), Vol. 6, No. 1, January-April, 2015, pp- 1-8
  5. Pandey, A., “SME Exchange: Panacea for SME Sector?”, Review of Professional Management, Vol 2 (2), 2014
  6. Pandey,A., “Cashflow is King: A Myth or Reality”, Asia Pacific Journal of Management Research and Innovation (APJMRI), 2012,  Vol.8(4), 441-449. (Sage Publication)
  7.  Pandey. A., “Price to Earnings versus Price to Sales: A comparative Study for Indian Capital Market” at Abhigyan, Vol. 1, 2012, 44-52.
  8.  “The Global Economic Crisis through an Indian Looking Glass”, (Book Review) by Adarsh Kishore,Maichael Debabrata Patra and Partha Ray, ISBN: 978-81-321-0651-7,2011, Paradigm, 2012.(Sage Publication)
  9. Pandey.A. a research paper,” Indian Mutual Fund Industry: Challenges and Road Ahead”, in Review of Professional Management, Vol.9, December 2011, 19-26.
  10. “Handbook of Equity Market Anomalies”, (Book Review) by Leonard Zacks, CEO Zacks Investment Research, 2011, at Asia Pacific Journal of Management Research and Innovation (APJMRI), Vol8 (4), 2012: 535-538. (Sage Publication)

Journal, Book and Book Chapter:

  1. Guest Editor, Special Issue, Journal of Management and Public Policy, Vol.11(1) 2019
  2. Management Practices in the New Millennium, Edited Book,2019
  3. Advances in Management, Edited Book, Bloomsbury Publication,2016
  4. Innovation and Sustainable Development, Edited Book, Bloomsbury Publication, 2016

15.Singh,M. and Pandey,A., “Goods and Service Tax: A Panacia for India” published in the edited volume book Advances in Management, 2016

16.Singh,M. and Pandey,A., “Sustainable Development Prospects in Uttarakhand” published in the edited volume book Innovation and Sustainable Development, 2016

  1. Contemporary Issues in Business and Economy, Edited Book, Regal Publication, 2016
  2. Emerging Trends in Management and Public Policy, Edited Book, Regal Publication,2016

19.Singh,M. and Pandey,A., “Microfinance Institutions in Delhi: Challenges and Road Ahead” published in the edited volume book Contemporary Issues in Business and Economy, 2016

  1. Capital Market and Financial System in India, New Century Publication, 2014.

Research Project:

  • Major Research project as Co-project Director of Rs. 13 lakhs of two years (2023-2025) on“Impact of Impact of ESG Score and Firm Quality on Corporate Performance: A Study for Asian Markets” sanctioned by Indian Council for Social Science Research (ICSSR).

    • Paper Presentations:

    z  “Does Size matters in Size Anomaly: Evidence from Asian Markets”, at 46th EBES Conference from 10th-12th January,2024, Rome, Italy

    z  Profitable Strategies based on “Equity Market Anomalies: Evidence from Europe”, at Conference on Changing Landscape for Securities Market on 22-24 January,2020 organized by NISM and SEBI

    z  “Amtek Auto Debacle: Financial Statement Analysis” at 7th PAN IIM World Management Conference by IIM Rohtak at 12-14th December, 2019

    z  “Five Trillion Dollar Economy: Challenges and Road Ahead for India”, presented at 5th International Management Conference “AMRIT” on 17th-18th December,2019, held at Fortune Institute of International Business” 

    z  “Risk Characteristics and Capital Structure Adjustment”, at International Conference on Happiness, Performance Management in Modern Globalised Business Scenario, on 21-22 December, 2019 organized by RDIAS, New Delhi

    z  Social Equity and Inclusion in Education: Issues and Challenges, presented at National Conference on Internal Quality Assurance Cell by SHDCHE on 8th November,2019

    z  “A study on the impact of Capital Structure on firm performance in India”, at 6th Uniglobe International Management Conference, Nepal on March 13th & 14th, 2019

    z   “Recession Impact on Capital Structure Determinants: Evidence from India”, at 4th International Management Conference on Advances in Management Through Research, Innovation and Technology 2018, organized by FIIB, New Delhi in partnership with  Burgundy School of Business, France; Solbridge School of Business, Korea; Sa-Dhan, and Uniglobe College, Nepal on 19th-20st December 2018.

    z   “Bhushan Steel Limited: Leverage a double Edged Sword” ,  at FIIB in International Symposium on 4th August,2018

    z  Pandey and Singh, “Capital Structure Theories: A Review”, AGU International Journal of Management Studies and Research, 5, 2017

    z   “Fiscal Policy in India: Assessing Fiscal Prudence and Fiscal Sustainability” in IV International Conference hosted by Uniglobe College, Nepal in Kathmandu on 6th and 7th March 2017

    z   “Multiple Directorship and Firm Performance in Indian Listed Companies” at International Finance Conference SIFICO organized by K.G. Somaiya Institute of Management Studies and Research, Mumbai on 12th -13th January,2017

    z   “Goods and Service Tax: A Panacea for India”, at 2nd International Management Conference 2016, organized by FIIB, Burgundy School of Business. France, Sa-Dhan, and Uniglobe College, Nepal on 20th-21st December 2016.

    z   “Sustainable Development Prospects in Uttarakhand”, at 2nd International Management Conference 2016, organized by FIIB, Burgundy School of Business. France, Sa-Dhan, and Uniglobe College, Nepal on 20th-21st December 2016.

    z   “Composition of Board of Directors in Microfinance Institution in India: A Corporate Governance Perspective”, at 1st Annual International Microfinance Workshop 2016, organized by Burgundy School of Business. France, Sa-Dhan, Sahulat Microfinance Society and FIIB on 15th and 16th July 2016.

    z   “Testing Fama French Model for Indian Capital Market”, International Management Conference on Business and Economy: Growth, Governance and Globalisation on 5th March, 2016 at FIIB, New Delhi.

    z   “Microfinance Institutions in Delhi: Challenges and Road Ahead”, International Management Conference on Business and Economy: Growth, Governance and Globalisation on 5th March, 2016 at FIIB, New Delhi.

    z  Sources of Size Effect: Evidence for Indian Capital Market”, at International Conference on the Role of Social Media for Organizational Sustainability (ICROSMOS),on 12th -13th February 2016, at Jaipuria Institute of Management, Noida

    z   “A review of Literature of major Determinants of Capital Structure”, International Conference on Recent Advances in Engineering Science and Management on 30th August,2015 at PHD Chambers, Delh.

    z   “Volatility Effect and the Role of Firm Quality Factor in Returns: Evidence from Indian Stock Market”, at   FORE International Finance Conference from 28th Dec.-30th Dec.2014

    z   “Profitable Trading Strategies based on Price Multiple Information: Evidence from India”, at 7th ISDSI and OSCM International conference organized by IMI, New Delhi from 28th Dec.-30th Dec.2013.

    z   “Seasoned Equity Offerings: Empirical Evidence from India”, in 3rd International Conference, Exploring the Soul of business: An Eternal Sustainer, organized by JIMS Rohini, on 9th Feb,2013 at India International Centre, New Delhi.     

    z  , “Price to Earnings and Price to Sales: A Comparative Study”, in the conference, “Generation Next: Managerial Challenges and Opportunities”, organized by Jaipuria Institute of Management, Noida- 14-16th Oct.2011

Professional / Academic Affiliations

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