Praveen Kumar

Texas Commerce Bank/Tenneco Professor of Finance

Chair, Department of Finance

Executive Director, Global Energy Management Institute

 

 

 

Contact Information:

Dept. of Finance, C.T. Bauer College of Business, 334 Melcher Hall

 

University Of Houston, Houston, TX-77204-6021

 

Phone : (713) 743-4770; Fax : (713) 743-4789;                  

 

 e-mail : pkumar@uh.edu

 

 

Ph.D. Stanford University, 1985

M.P.A. Princeton University, 1981

A.B. Princeton University, 1979

 

Honors and Awards  

        

University of Houston Teaching Excellence Award (Campus-wide award).

Track Chair, Annual Meetings of the Financial Management Association.

Chapa-O’Quinn Lectures, Monterrey Institute of Technology (ITESM) and University of Houston Law Center.

Chi  Chicago Board of Trade Award for the Best Paper on Options and Futures, Annual Meetings of the Western Finance Association.

Teaching Award for “Excellence in Classroom,” Graduate School of Industrial Administration, Carnegie-Mellon University.

       Runners-up for the Merton Miller Award for the Best Paper in the Journal of Business.

Nominee for the Smith-Kline Award for the Best Paper in the Journal of Finance.

Bauer Fellow, C.T. Bauer College of Business, University of Houston.

A.B., Cum Laude, Princeton University.

       Dewitt Clinton Poole Memorial Scholarship Prize, Princeton University.

 De  Dewitt Scholarship Prize, Princeton University.

 

 

E.
Professor Kumar's areas of specialization include analyses of the impact of asymmetric information on asset pricing, corporate financial policies, financial market microstructure, corporate governance, incentives and strategy design in organizations, and industrial organization.
 

Publications

“Lemons or Cherries? Growth Opportunities and Market Temptations in Going Public and Private,” (with H. Aslan), July 2009, Journal of Financial and Quantitative Analysis (forthcoming).

 

“Managerial Agency and Bond Covenants,” (with S. Chava and A. Warga), January 2009, Review of Financial Studies (forthcoming).

 

 “Corporate Fraud and Investment Distortions in Efficient Capital Markets,” (with N. Langberg), Rand Journal of Economics, 40, 144-172, 2009.

 

“Idiosyncratic Risk and the Cross-Section of Stock Returns:  Merton (1987) meets Miller (1977),” (with R. Boehme, B. Danielsen, and S. Sorescu), Journal of Financial Markets, 12, 438-468, 2009.

“Estimation Risk, Information, and the Conditional CAPM: Theory and Evidence,” (with S. Sorescu, R. D. Boehme, and B. Danielsen), Review of Financial Studies, 21, 1037-1085, 2008. (Lead Article)

“Takeovers, Market Monitoring, and International Corporate Governance,” (with L. Ramchand), Rand Journal of Economics, 39, 850-874, 2008.

 

“Optimal Patenting and Licensing of Financial Innovations,” (with S. Turnbull), Management Science, 54, 2012-2023, 2008.

 

 “Who Monitors the Monitor? The Effect of Board Independence on Executive Compensation and Firm Value,” (with K. Sivaramakrishnan), Review of Financial Studies, 21, 1371-1401, 2008.

 

“Intertemporal Price-Quality Discrimination and the Coase Conjecture,” Journal of Mathematical Economics, 42, 896-940, 2006.

 

“Agency Costs and Corporate Investment: The Role of Executive Compensation and Corporate Governance,” (with S. Kang and H. Lee), Journal of Business, 79, 1127-1148, 2006.

 

“Learning About Investment Risk:  The Effects of Structural Uncertainty on Dynamic Investment and Consumption,” Journal of Economic Behavior and Organization, 60, 205-229, 2006.

 

“Managerial Entrenchment and Payout Policy,” (with A. Hu),  Journal of Financial and Quantitative Analysis, 39, 759-790, 2004.

“Corporate Governance, Takeovers, and Top-Management Compensation: Theory and Evidence,” (with R. Cyert and S. Kang), Management Science, 48, 453-469, 2002.  (Lead Article)

“Price and Quality Discrimination in Durable Goods Monopoly with Resale Trading,” International Journal of Industrial Organization, 30, 1313-1339, 2002.

“Firm Performance, Control, and Executive Compensation,” (with S. Kang),  in Mie Augier and James G. March (ed.), The Economics of Choice, Change, and Organizations, Edward Elgar Publishers: UK, 2001.

“Discrete Dividend Policy with Permanent Earnings,” (with B. S. Lee), Financial Management, 30, 55-76, 2001.

“Information, Organizational  Structure, and Strategy,”   in Mie Augier and James G. March (ed.), The Economics of Choice, Change, and Organizations, Edward Elgar Publishers: UK, 2001.

 “On the Structure of the Generalized Principal-Agent problem: Decomposition and Existence Results,” (with P. Faynzilberg), Review of Economic Design, 5, 23-58, 2000.

 “Empirical Dynamic Stochastic Models for Firm Dividends," (with E. Kao), Advances in Financial Planning and Forecasting, 9, 161-192, 2000.

"Optimal Contracting of Separable Production Technologies," (with P. Faynzilberg), Games and Economic Behavior, 21, 15-39, 1997. (Lead Article)

"Managerial Objectives and Firm Dividend Policy: A Behavioral Theory and Empirical Evidence," (with R. Cyert and S. Kang), Journal of Economic Behavior and Organization, 30, 8-36, 1996. (Lead Article)

“Strategies for Technological Innovation with Learning and Adaptation Costs," (with R. Cyert), Journal of Economics and Management Strategy, 5, 25-67, 1996.

“Economizing by Firms through Learning and Adaptation,” (with R. Cyert), Journal of Economic Behavior and Organization, 29, 11-32, 1996.

  "Organizational Strategy and Tacit Collusion in Oligopoly with Agency," (with R. Cyert), Computational and Mathematical Organizational Theory, 1, 9-36, 1995. (Lead Article)

 "The Impact of Organizational Structure on Oligopolistic Pricing," (with R. Cyert and J. Williams), Journal of Economic Behavior and Organization, 95, 1-15, 1995. (Lead Article)

 "Information and Index Arbitrage," (with D. Seppi), Journal of Business, 67, 481-509, 1994. (Lead Article)

"Technology Forecasting and the Future," (with R. Cyert), IEEE Transactions in Engineering Management, 41, 33-34, 1994. (Lead Article)

"Product Market Innovations, Agency Costs and Capital Structure: Theory and Evidence," (with J. Jayaraman and A. Makhija), abstracted in the Proceedings of the 53rd Meetings of the American Finance Association, Journal of Finance, 49, 1075, 1994.

"Information, Market Imperfections, and Strategy," (with R. Cyert and J. Williams), Strategic Management Journal, 14, 47-58, 1993.

"Futures Manipulation with 'Cash Settlement'," (with D.Seppi), Journal of Finance, 47, 485-502, 1992.

"Shareholder-Manager Conflict and the Information Content of Dividends," Review of Financial Studies, 1, 111-126, 1988. (Lead Article)

"Part Dispatch in Multistage Card Lines," (with R. Akella and S. Rajagopal), Proceedings of the IEEE Conference on Robotics and Automation, 143-146, 1986.

"New Estimates of the Value of Federal Mineral Rights and Land," (with M. Boskin, et al.), American Economic Review, 75, 923-936, 1985. (Lead Article)


Curriculum Vitae

Strategic Finance Course Syllabus

Advanced Corporate Finance Course Syllabus
 
 
 


Last Modified: May 16, 2000

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