Dr. Mahendra Raj
Dr. Mahendra Raj
Professor
Ph.D, University of Arizona, USA
Finance

Professor Raj was the Professor of Finance and the Dean of the College of Business at the University of Sharjah before joining IMT Dubai. Prior to this he was Professor and Director of Research at Robert Gordon University in UK. Prof. Raj did his undergraduate in Mechanical Engineering followed by MBA, MS and PhD from USA.
 
Prof. Raj was a Commissioner with the Competition Commission for UK, the 2nd oldest competition authority in the world. He was a Commissioner with the Accounts Commission of Scotland which is responsible for monitoring £20bn of public money.
 
He was a Consultant to the Commonwealth Secretariat, London. He was also the Editor of Studies in Economics and Finance, an Emerald journal, for more than 12 years and is in the editorial board of several other international journals.

Agency Theory, Mergers, Market Efficiency, Market Anomalies, Trading Strategies, Mutual Fund Performance, Banking, Capital Structure, Options and Futures Markets, Behavioral Finance.

Financial Management, Corporate Finance, International Finance, Investments, Derivatives, Risk and Insurance, Financial Markets, Portfolio Management.

 

  • Performance of Government-Linked Companies Listed on the Two Stock Exchanges of the United
    Arab Emirates: – An Empirical Study,
    With H. Uddin and S. Halbouni, accepted in Emerging Markets Finance and Trade, 2013 .
  • The Fed’s Re-Programming Strategy during the Great Recession with O. Sweidan and H. Uddin, Journal of Economic Research, Vol. 17, No. 2, 2012, 159-187.
  • Gulf IPO Underpricing and Aftermarket Risk, with H. Uddin, International Journal of Business and Finance Research, Vol. 6, No. 3, 2012, 123-137.
  • Profitability of Trading Rules Using Nikkei Futures Transaction Data, with O. Sweidan, International Research Journal of Finance and Economics, No. 74, September 2011, 97-105.
  • Bidder Motivation and Long-Term Performance of UK Mergers, with M. H. Uddin, Journal of Corporate Ownership and Control, Vol. 8, No. 2, Continued-1, Winter 2011, 227.
  • Comprehensive Study of Behavioral Finance, with S. Basu and H. Tchalian, Journal of Financial Service Professionals, Vol.62, No.4, July 2008, 51- 62.
  • Bidder Gains: The Undervaluation Hypothesis, in Banking and Financial Market Efficiency: Global Perspectives, Edited by I. Hasan and W. C. Hunter, Research in Banking and Finance, Vol.5, Elsevier, 2004.
  • Adjusting for Downside: An Evaluation of the Performance of UK, US and Emerging Market Unit Trusts, with M. Forsyth & O.Tomini, Journal of Investing, Vol.12, No.2, 2003, 50-63.
  • Management Motive, Shareholder Returns and the Choice of Payments: Evidence from the UK, with M. Forsyth, American Journal of Business, Vol. 19, No.1, 2003, 23-29.
  • Hubris amongst UK Bidders and Losses to Shareholders, with M. Forsyth, International Journal of Business, Vol. 8, No.1, 2003, 1-16.
  • The Efficiency and Performance of Restructured and Downsized Companies, with M. Forsyth, Economic Issues, Vol. 7, No.2, 2002, 59-69.
  • Hostile Bidders, Long-term Performance and Restructuring Methods: Evidence from UK, with M. Forsyth, American Business Review, Vol. 20, No.1, 2001, 71-81.
  • Technical Trading in the Intra-Day Futures Markets: An Investigation in the Asia-Pacific, Journal of Futures Markets, Vol. 20, No.7, August, 2000, 687-704. Partially funded by Singapore International Monetary Exchange.
  • A Generalised Method of Moments Comparison of the Cox, Ingersoll and Ross and the Heath, Jarrow and Morton Models, with D. C. Thurston and A. B Sim, Journal of Economics and Business, Vol. 49, No. 2, March/April 1997, 169-192.
  • An Investigation in Exchange Rate Behavior of Emerging Countries, with P. Dheeriya, International Journal of Public Administration, 23 (5-8), 2000, 1089-1112.
  • Restructuring and Layoffs: Does the UK Market View them positively, with M. Forsyth, Journal of Global Business, Vol. 10, No. 19, fall, 1999, 55-64.
  • The Day of the Week and the Weekend Effect in the Thai Stock Market, Joint Paper with Prakash Dheeriya in Economic Transformation in Emerging Countries: The Role of Investment, Trade and Finance, Edited by F. J. Contractor, Elsevier Publishers, 1997.
  • Asset-Liability Management and Performance of Commercial Banks in Thailand, Journal of Business and Behavioural Sciences, with T. Hasan, Vol. 6, No.1, Fall, 1999, 192-206.
  • Impact of Bonus and Rights Issues in a De-Regulated Asia-Pacific Market: The Case of New Zealand, Business Journal, Vol. 14, Nos. 1&2, Fall-Spring, 1999, 3-9.
  • A Pedagogic Note on the Fisher Effect, Inflation and Real Growth Rates, with Steven Dennis & D. Thurston, Journal of Financial Education, Vol.22, Fall, 1996, 65-68.
  • Interest Rates, Loan-to-Value Ratios, and Bank Risk, with S. Dennis and D. C. Thurston, New York Economic Review, 1997.
  • Predictive Ability of Earnings and Dividend Yields: An Empirical Evaluation of New Zealand Stocks, with D. Thurston, Applied Financial Economics, Vol. 5,1995, 109-111.
  • Effectiveness of Simple Technical Trading Rules in the Hong Kong Futures Markets, with D. Thurston, Applied Economic Letters, Vol. 3, No. 1, Jan, 1996, 33-36.

  • An Investigation of the Relationship between Fund Efficiency and Ratings, International
    Symposium on Business and Social Sciences
    , Tokyo, Japan,2013.
  • Market reaction to corporate fraud: some evidence from UK, Global Management Conference, Rio De Janiero, Brazil, 2012.
  • Bidder gains in UK horizontal takeovers, International Conference for Excellence in Business 2012, Sharjah, UAE, 2012.
  • Bidder Motivation and Long-Term Performance of UK Mergers & Acquisitions, Oman 2001 International Business Conference, Muscat, Oman, 2010.
  • Does Ownership Structure Influence Agency Costs: Evidence from UK, European Accounting Association, Gothenberg, Sweden,2005.
  • Horizontal Takeovers and Bidder Gains in the UK, IESE Symposium on Merger and Acquisition Research, Barcelona, Spain, 2002.
  • Joint Ventures in the UK: The Choice of Equity or Non-Equity Partnership, European Accounting Association, Athens, Greece, 2001.
  • Management Hubris and Bidder Losses in the United Kingdom, European Academy of Management, Barcelona, Spain, 2001.
  • Equity and Non-Equity Joint Ventures Announcements: An Examination of the UK Markets, British Academy of Management, Edinburgh, UK,2000.
  • UK Share Buybacks: An Investigation of the Underlying Motivations, Irish Academy of Management, Dublin, Ireland, 2000.
  • Corporate Crime in UK: An Examination of the Share Price Reaction, American Association for Business and Behavioral Sciences, Aberdeen, UK, 2000.
  • Impact of News Headlines on Stock Markets, Association for Global Business, Orlando, USA, 2000.
  • UK Horizontal Takeovers and Bidder Gains, Irish Accounting and Finance Association, Dublin, Ireland, 2000.
  • Efficiency Tests of Intra-day Australian Index Futures Markets, New England Business Administration Association, New Haven, USA, 2000.
  • A Comparison of Cox Proportional Hazard and Logistic Model for Predicting East­-Asian Bank Failures, British Accounting Association, Exeter, UK, 2000.
  • Do Stock Markets React to News Headlines? An Asia-Pacific Perspective, New England Business Administration Association, Udaipur, India, 1999.
  • Do Layoffs Send Negative Signals To The Market? Irish Accounting and Finance Association, Cork, Ireland,1999.
  • Efficiency of the SIMEX Currency Futures Markets: An Investigation, Global Change Conference, Manchester, UK, 1998.
  • Efficiency of Asia-Pacific Futures Markets: An Examination of New Zealand and Hong Kong Markets, Scottish Economic Society, Glasgow, UK, 1998.
  • A Generalized Method of Moments Comparison of the Cox-Ingersoll-Ross and Heath-Jarrow-Morton Models, Financial Management Association 1997 International, Zurich, Switzerland, 1997.
  • Effectiveness of Black Model: An Intra-Day Examination Using Options on Nikkei Index Futures, Sixth Annual Conference of European Financial Management Association,Istanbul, Turkey, 1997.
  • Impact of Bonus and Rights Issues in a De-regulated Asia-Pacific Market: The Case of New Zealand, the Sixth Conference on the Theories and Practices of Securities and Financial Markets, Kaohsiung, Taiwan, 1997.
  • Intra-Day Arbitrage in the Singapore Euro-Dollar Options and Futures Market, Academy of Business Administration, 1997 Global Trends, Mexico, 1997.
  • Provision for Revision: Implant Failure and Financial Engineering, Institute for Operations Research and the Management Sciences Meeting, Dallas, USA, 1997.
  • Effects of Seasoned Equity Issues in Emerging Markets: An Investigation in the Thai Stock Market, Third Global Finance, Hawaii, USA, 1996.
  • Cointegration and Error Correction Model Based Examination of the Efficiency of the New Zealand and Hong Kong Futures Markets, Mid-South Academy of Economics and Finance, Atlanta, USA, 1996.
  • Determining Optimal Hedge Ratios and Duration in the New Zealand Markets, International Trade and Finance Association, San Diego,  USA,1996.
  • Autoregressive Conditional Heteroscedasticity and Seasonal Effects in the Hang Seng Futures, Missouri Valley Economic Association, Memphis, USA, 1996.
  • Effects of Seasoned Equity Issues in Emerging Markets: An Investigation in the Thai Stock Market, Third Annual Multinational Finance, Washington, USA, 1996.
  • Cointegration and Error Correction Model Based Examination of the Efficiency of the New Zealand and Hong Kong Futures Markets, Second NTU International Conference on Finance, Taipei, Taiwan, 1995.
  • Intra-day Examination of Technical Trading Rules in the Currency Futures Market, Financial Management Association, New York, USA, 1995.
  • Cointegration Tests of Market Efficiency in the SIMEX Futures Markets, Southern Finance Association, Florida, USA, 1995.
  • Black, Derman and Toy One Factor Model: An Empirical Examination, First Asia Pacific Finance Association, Sydney, Australia, 1994.
  • An Empirical Examination of the Long-Term Interest Rate Options Market in an Arbitrage Framework, British Accounting Association, Winchester, UK, 1994.
  • Preference Free Stochastic Model for Valuing Options on Interest Rates, Northern Finance Association, Halifax, Canada, 1993.
  • Pricing Options on Yields Using Stochastic Arbitrage Based Models, Sixth Australasian Finance and Banking, Sydney, Australia, 1993.
  • Stochastic Arbitrage-Free Term Structure Models for Pricing Short-Term Interest Rate Options, Sixth Symposium on Money, Finance, Banking & Insurance, Karlsruhe, Germany, 1993.