Praveen
Kumar
Texas Commerce Bank/Tenneco
Professor of Finance
Chair, Department of Finance
Executive Director, Global Energy
Management Institute
Contact Information:
Dept. of Finance,
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
Track Chair, Annual Meetings
of the Financial Management Association.
Chapa-O’Quinn Lectures, Monterrey Institute
of Technology (ITESM) and University of
Chi
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,
A.B., Cum Laude,
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
“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
“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)
Strategic Finance Course Syllabus
Advanced Corporate Finance Course Syllabus
Last Modified: May 16, 2000