Debarati Bhattacharya

Associate Professor of Finance
Palumbo Donahue School of Business
Finance

813 Rockwell Hall
Phone: 412.396.2621
bhattacharyad@duq.edu

Education:

Ph.D., Finance, Virginia Tech, 2014 M.B.A., Finance, Calcutta University, 2002 B.S., Economics, Calcutta University, 1999
Biography

Dr. Bhattacharya's research interests include dividend policy, corporate governance, board structure, mutual funds, financial anomalies, and market efficiency. Her current research focuses on how the role of corporate governance shifts from being a complement to a substitute for payout policy through its interplay with the idiosyncratic risk of the firm, trading behavior of mutual funds.

Dr. Bhattacharya's recently published research evaluate momentum, a stock market anomaly, and also the herding behavior of mutual funds and its effect on fund performance. Her work on momentum has generated excitement among practitioners and has been cited by several media outlets, such as, Moneyweek, Reuters, CBS MoneyWatch.

Dr. Bhattacharya's past banking experience with American Express, Citi, Hongkong And Shanghai Banking Corporation (HSBC) complements her teaching strengths in investment and corporate finance. She is currently teaching Business Finance and Cases in Finance to undergraduate students.

Education and Certification

Ph.D., Finance, Virginia Tech, 2014
M.B.A., Finance, Calcutta University, 2002
B.S., Economics, Calcutta University, 1999

Tuesday/Thursday 3:30 PM - 5:30 PM or by appointment.

Published Articles

Bhattacharya, D. & Li, W. (in press 2020). Wealth Effects and Relative Firm Value in M&A Deals:Reallocation of Physical vs. Intangible Asset. Review of Quantitative Finance and Accounting.

Bhattacharya, D., Chang ,C. , & Li, W. (in press, 2019). Stages of Firm Life Cycle, Transition and Dividend Policy. Finance Research Letters.

Bhattacharya, D., Kao, Y., & Li, W. (in press, 2019). Industry Experience of Board and Acquisition Performance. Review of Pacific Basin Financial Markets and Policies.

Bhattacharya, D., Hsu, S., Li, W., & Liu, C.  A Combined Firm's Decision to Hire the Target's Financial Advisor After Acquisition: Does Service Excellence Pay Off?  Finance Research Letters, 2019, Volume 29, pp 297-302.

Bhattacharya. D. & Sonaer, G. Herding by Mutual Funds: Impact on Performance and Investors' Response. European Journal of Finance, 2018, Volume 24, Issue 4, pp 283-299

Bhattacharya, D., Chen, T., & Li, W. Product Market Threat and Corporate Investment. Advances in Pacific Basin Business, Economics and Finance, 2018, Volume 6, pp 27-50

Bhattachary, D., Sonaer, G., & Li, W. Has Momentum Lost its Momentum. Review of Quantitative Finance and Accounting, 2017, Volume 48, Issue 1, pp 191-218

Conference Presentation and Participation

"Wealth Effects in M&A Deals: Reallocation of Physical vs. Intangible Assets", The 27th Annual Conference on Pacific Basin Finance, Economics, Accounting, and Management, Taipei, Taiwan, June 2019

"Stages of Firm Life Cycle, Transition and Dividend Policy", 2019 Taiwan Finance Association Annual Meeting, Taipei, Taiwan, May 2019

Bhattacharya, D., Kao, Y., & Li, W. (2018). Industry Experience of Board, CEO, and Acquisition Performance. 2018 New Zealand Finance Meeting, Queenstown, New Zealand.

Bhattacharya, D., Hsu, S., Li, W., & Liu, C. (2018). 4. "A Combined Firm's Decision to Hire the Target's Financial Advisor after Acquisition: Does It Pay to be 'Loyal'?". 2018 Taiwan Finance Association Annual Meeting, Taipei, Taiwan.

Bhattacharya, D., Li, W., & Rhee, G. (2018). Does Better Corporate Governance Encourage Higher Payout? Risk, Agency Cost, and Dividend Policy. Eastern Finance Association Conference, Philadelphia, Pennsylvania.

Bhattacharya, D., Ya-Yun, K., Li, W., & Rhee, G. (2018). Industry Experience of Board, CEO, and Acquisition Performance. Asian Finance Association (Asian FA) Annual Conference, Hong Kong, Hawaii.

Bhattacharya, D., Li, W., & Rhee, G. (2017). Does Better Corporate Governance Encourage Higher Payout? Risk, Agency Cost, and Dividend Policy. Financial Management Association, Chicago, Michigan.

Bhattacharya, D., Chang, C., Li, W. (May 2019). Stages of Firm Life Cycle, Transition and Dividend Policy. 2019 Taiwan Finance Association Annual Meeting, Taipei, Taiwan.

Bhattacharya, D., Li, W. (June 2019). Wealth Effects in M&A Deals: Reallocation of Physical vs. Intangible Assets. The 27th Annual Conference on Pacific Basin Finance, Economics, Accounting, and Management, Taipei, Taiwan.

Bhattacharya, D., Li, W., & Rhee, G. (2018). Does Better Corporate Governance Encourage Higher Payout? Risk, Agency Cost, and Dividend Policy. Eastern Finance Association Conference, Philadelphia, Pennsylvania.

Bhattacharya, D., Ya-Yun, K., Li, W., & Rhee, G. (2018). Industry Experience of Board, CEO, and Acquisition Performance. Asian Finance Association (Asian FA) Annual Conference, Hong Kong, Hawaii.

Bhattacharya, D., Kao, Ya., Li, W. (2018). Industry Experience of Board and Acquisition Performance. New Zealand Finance Meeting, Queenstown, New Zealand.

Bhattacharya, D., Hsu, S., Li, W., Liu, C. (2018). A Combined Firm's Decision to Hire the Target's Financial Advisor after Acqusition: Does It Pay to be "Loyal"? Taiwan Finance Association Annual Meeting, Taipei, Taiwan.

Bhattacharya, D., Li, W., & Rhee, G. (2017). Does Better Corporate Governance Encourage Higher Payout? Risk, Agency Cost, and Dividend Policy. Financial Management Association, Chicago, Michigan.

Bhattacharya, D., Li, W., & Rhee, G. (2016). Does Better Corporate Governance Encourage Higher Payout? Risk, Agency Cost, and Dividend Policy. Conference on Interdisciplinary Business and Business & Economics Research, Osaka, Japan.

Bhattacharya, D. & Sonaer, G. (2015). Herding by Mutual Funds: Impact on Performance and Investors' Response. Midwest Finance Association Annual Conference, Chicago, Illinois.

Bhattacharya, D. & Sonaer, G. (2013). Has Momentum Lost its Momentum. Financial Management Association Conference, Chicago, Illinois.

Bhattacharya, D. & Ince, O. (2013, September). Last Exit before Toll: Venture Capital Funds and Liquidity Pressure. Midwest Finance Association Annual Conference, Chicago, Illinois.

Bhattacharya, D. & Ince, O. (2013, September). Last Exit before Toll: Venture Capital Funds and Liquidity Pressure. Financial Management Association, Chicago, Illinois.

Bhattacharya, D. & Sonaer, G. (2012, February). Has Momentum Lost its Momentum. Midwest Finance Association Annual Conference, New Orleans, Louisiana.

Accomplishments

Best Paper Award, 2019

Dr. Bhattacharya's paper, "Corporate Governance, Idiosyncratic Risk, and Dividend Policy" won the Robert Hansen Corporate Finance Paper Award at the Dilip K. Shome Conference, Department of Finance, Pamplin College of Business, 2019. The conference was held in the memory of Dr. Dilip K. Shome who passed last year. He was a Professor Emeritus of Finance at VT. The best paper was selected by the Director of the PhD program, Dr. Roger Edelen and the award was presented by the Dean, Robert Sumichrast (right) and the Finance Department Chair, Dr. Vijay SIngal (left) on Saturday, 21st September, 2019.

Best Paper Award 2017

Dr. Bhattacharya won Best Paper Award at the Taiwan Finance Association International Conference and Annual Meeting, Hualien, Taiwan, 2017