Full Vita [HTML] | Full Vita [PDF]
Education
Ph.D. in Finance,
Graduate Student, Graduate
M.M.S., Finance, Jamnalal Bajaj Institute of Management Studies,
B.Sc. (with distinction), Chemistry, St. Xavier's College,
Employment
T.
Austin Finch Foundation Professor of Finance, January 2008 to present.
Robert Dickens Professor of Finance, June 2006 to December 2007.
Professor of Finance, Fuqua School of Business,
Professor (by courtesy, Department of Economics,
F.M.Kirby Faculty Fellow,
Visiting Professor,
Area Co- ordinator , Finance, June 2000 to June 2002.
Associate Professor, Fuqua
Visiting Associate Professor,
Assistant Professor, Fuqua
Lecturer, Fuqua
Assistant to the Divisional Accountant, Engineering Division, Rallis India
Limited, Bombay, India, 1979-1980.
Teaching
Current Teaching at Duke: Corporate Restructuring for Global MBAs (GEMBA
program) Last rating 6.3 on 7.0.
Prior Teaching at Duke: Corporate Finance, Corporate Restructuring for
MBAs, Executive MBAs (WEMBA and GEMBA). Average rating, 6.3 on 7.0.
Wharton: Advanced Corporate Finance, 1997.
Average Rating 4.6 on 5.0, nominated for Helen Kardon Moss Anvil Award.
Duke: Corporate Restructuring, Corporate Finance, Advanced Corporate Finance.
Average ratings 6.5 on 7.0 in MBA and WEMBA courses over last two years.
introductory finance course. Average ratings 4.6 on 5.0.
Financial Executives Institute/Duke University Program In Corporate
Restructuring
Average ratings 4.4 on 5.0.
Ph.D. Seminar in Corporate Finance.
Teaching Awards
GEMBA Class of 2003, 2006 Outstanding Professor Award finalist.
GEMBA Class of 2001 Outstanding Professor Award.
Weekend Executive Class of 1999 Outstanding Professor in Electives Award.
Class of 1995 MBA Association Faculty Recognition Award ``For Efforts Above and
Beyond the Call of Duty''.
Four Star Rated Teacher in 1995 Business Week Survey of Duke (Highest Rating).
Class of 1994 Outstanding Faculty Award, the Fuqua
Academic Awards and Research Grants
Coeditor, Journal of Financial Intermediation, 2005 to present
Associate Editor, Review of Financial Studies 1996-1999
Associate Editor, Journal of Financial Intermediation, 1998-2005
Associate Editor, Journal of Financial Markets
Associate Editor, Management Science, 1999-2005
1997 NYSE Best Paper Award on Equity Trading, Western Finance Association
1996 Institute for Quantitative Research in Finance Research Award
Nominated for Smith Breeden Award (4 times)
1993-1998: Program Committee, Western Finance Association meetings
1996 Center for International Business Education and Research (CIBER) Research
Grant
1995 Center for International Business Education and Research (CIBER) Research
Grant
1989 Institute for Quantitative Research in Finance Research Award
1987 Duke University Research Council Grant.
1985 Bion Howard Award for outstanding performance in the Ph.D. program,
Finance Department, KGSM, Northwestern University , 1985
1984 GPA of 4.0 at Northwestern University (maximum possible)
1982-85 Northwestern University Graduate Fellowship
1974 Father Sierp Scholarship in Chemistry, St. Xavier's College,
University of Bombay , 1974
Thesis
A Multiple Signalling Model of Corporate Financial Policy
Thesis Committee
Milton Harris (Chairman),
Publications
The links below are to the relevant websites that carry the paper and is done to facilitate access. Access to the website may require appropriate authorization from the publisher of the journal.
Foster, F.D., and S. Viswanathan , 1990, A Theory of Interday Variations in Volumes, Variances and Trading Costs in Securities Markets, Review of Financial Studies , 4, 595-624. [PDF]
Foster, F.D., and S. Viswanathan , 1993, The Effect of Public Information and Competition on Trading Volume and Price Volatility, Review of Financial Studies , 6, 23-56. [PDF]
Foster, F.D., and S. Viswanathan , 1993, Variations in Trading Volume, Return Volatility and Trading Costs: Evidence on Recent Price Formation Models , Journal of Finance , 48, 187-211. [PDF]
Bansal , R. and S. Viswanathan , 1993, No Arbitrage and Arbitrage Pricing: A New Approach, Journal of Finance , 48, 1231-62. [PDF]
Bansal , R. , D . Hsieh and S. Viswanathan , 1993, A New Approach to International Arbitrage Pricing, Journal of Finance , 48, 1719-47. [PDF]
K. F. McCardle and S. Viswanathan , 1994, The Direct Entry Versus Takeover Decision and Stock Price Performance Around Takeovers, Journal of Business , 67, 1-43. [PDF]
Foster, F.D., and S. Viswanathan , 1994, Strategic Trading With Asymmetrically Informed Traders and Long-Lived Information, Journal of Finance and Quantitative Analysis , 29, 499-518. [PDF]
Foster, F.D., and S. Viswanathan , 1994, Trading Costs for Target Firms Around Takeovers, Advances in Financial Economics , 1, 37-57.
Viswanathan , S., 1995, A Multiple Signalling Model of Corporate Financial Policy, Research in Finance , 12, 1-35.
Foster, F.D., and S. Viswanathan , 1995, Can Speculative Trading Explain the Volume-Volatility Relation? , Journal of Business and Economic Statistics , 13, 379-396.
Foster, F.D., and S. Viswanathan , 1996, Strategic Trading When Agents Forecast the Forecast of Others, Journal of Finance , 51, 1437-1478. [PDF]
Hansch , O., N. Naik and S. Viswanathan , 1998, Do Inventories
Matter in Dealership Markets? Evidence From The
Hansch , O., N. Naik and S. Viswanathan , 1999, Best Execution, Internalization, Preferencing and Dealer Profits , Journal of Finance , 54, 1799-1828. [PDF]
Naik , N., A. Neuberger and S. Viswanathan , 1999, Trade Disclosure Regulation In Markets With Negotiated , Review of Financial Studies , 12, 873-900. [PDF]
Rhodes- Kropf , M. and S. Viswanathan , 2000, Corporate Re-organizations and Non-Cash Auctions, Journal of Finance , 55, 1807-1854. [PDF]
Bagnoli , M., S. Viswanathan , C. Holden, 2000, On The Existence of Linear Equilibria in Models of Market Making, 11, 1-31, Mathematical Finance. [PDF]
Viswanathan , S. and J. Wang, 2002, Market Architecture: Limit Order Books Versus Dealership Markets, 5, 127-168, Journal of Financial Markets . [PDF]
Viswanathan , S. and J. Wang, 2004, Inter-Dealer Trading In Financial Markets?, 77, Journal of Business . [PDF]
Rhodes-Kropf, M. and S. Viswanathan, 2004, Market Valuation and Merger Waves, Journal of Finance, 59, 2685-2718.. [SSRN]
Rhodes-Kroop, M. and S. Viswanathan, 2005, Financing Auction Bids, Rand Journal of Economics, 36, 789-815 . [PDF]
Rhodes-Kropf, M., David Robinson, S. Viswanathan, 2005, Valuation Waves and Merger Activity: The Empirical Evidence, forthcoming, Journal of Financial Economics, 77(3), 567-603. [PDF]
Carlin, B., M. Lobo and S. Viswanathan, 2006, Episodic Liquidity Crisis:
Cooperative and Predatory Trading, 2007, forthcoming, Journal of Finance.
Brusco, S., G. Lopomo, D. Robinson and S. Viswanathan, 2007, Efficient Mechanisms for Mergers and Acquisitions, International Economic Review, 48(3), 995-1035.. [PDF]
Viswanathan, S. and Bin Wei, 2008, Endogenous Events and Long Run Returns, 21, 855-888, Review of Financial Studies. [PDF]
Kyle, Albert S. and
Carlin, Bruce, Florin Dorabantu and
Working Papers
Market Declines and Liquidity (with Allaudeen Hameed and Wenjin Kang), revise and resubmit (second round), Journal of Finance.[PDF]
Moral Hazard, Collateral and Liquidity (with Viral Acharya).[PDF]
Collateral, Financial Intermediation and the Distribution of Debt Capacity (with Adriano Rampini).[PDF]
Costly Collateral and Market Liquidity (with
Optimal Bidding in Multi-Unit Discriminatory Auctions (with Jim Wang and Tom Witelski) , revise and resubmit, Journal of Economic Theory .
Why Do Firms Hedge? An Asymmetric Information Model (with Doug Breeden), revise and resubmit, Review of Financial Studies .
Auctions With When Issued Trading: A Model of the
A Characterization of Multidimensional Signaling.
Research in Progress
Invited Keynote Talks
Banque de France and CREST conference on market microstructure,
Presentations
Collateral, Financial Intermediation and the Distribution of Debt
Capacity
July 2008 Society for Economic Dynamics Conference,
July 2008 NBER Conference on Capital Markets and the
Economy,
June 2008
May 2008
January 2008 Jackson Finance Group conference,
How to Define Illegal Price Manipulation
January 2008 American Economic Association
Meetings,
Moral Hazard, Collateral and Liquidity
June 2008 Western Finance Association,
June 2008
May 2008 Northwestern University, Evanston IL
May 2008 University of Chicago, Beyond Liquidity Conference, Chicago IL
April 2008 Southern Methodist University, Dallas TX
April 2008 Wharton School, University of Pennsyvlania
November 2007
October 2007 NBER Market Microstructure conference,
Costly Collateral and Liquidity
May 2006 JFI Shanghai conference
May 2006 LSE conference on agency problems in finance
Endogenous Events and Long Run Returns
November 2004 Finance and Accounting Conference, University of Southern
California
August 2004 European Finance Association
May 2004 Northwestern University Illinois
May 2004 Notre Dame Indiana
Valuation Waves and Merger Activity: The Evidence
March 2004 De
January 2004 American Finance Association,
August 2003 European Finance Association Meetings,
Mergers Mechanisms
January 2004, Econometric Society Winter Meetings, San Diego ,
California
September 2003, Auctions and Market Design, Fondazione Eni Enrico
Mattei , Milan , Italy
June 2003, Econometric Society Summer Meetings, Evanston , Illinois
January 2003, Third International Conference on Game Theory, Mumbai
, India
Market Valuation and Merger Waves
January 2003, AFA Meetings Washington DC
November 2002, NBER Corporate Finance Meetings, Boston
September 2002, Indiana University
June 2002, Oxford University
June 2002, London Business School
Financing Auction Bids
October 2001, Rice University
October 2001, Carnegie Mellon University
May 2001, University of Chicago
May 2001, Atlanta Finance Forum (Georgia Tech, Emory ,
Georgia State, Atlanta Fed)}
January 2001 Yale University
Optimal Bidding In Multi-Unit Discriminatory Auctions
July 2000 Stonybrook Conference on Multi-Unit Auctions
January 2000
Corporate Reorganizations and Non-Cash Auctions
January 2000, AFA Meetings in
June 1999, WFA Meetings in
Why Is Inter-dealer Trading So Pervasive In Financial Markets?
June 1999, WFA Meetings in
April 1998,
October 1998
March 1999
Market Architecture: Limit Order Books Versus Dealership Markets
August 1988, EFA Meetings at Insead
May 1998, National Bureau Of Economic Research,
June 1988, WFA Meetings At
January 1999, Econometric Society Meetings in
Preferencing , Internalization, Best Execution and Dealer Profits
October 1997,
June 1997, Western Finance Meetings ,
November 1996, Conference on Dealer Markets ,
Auctions With When Issued Trading: A Model of the
March 1997, University of British Columbia
January 1997 , American Finance Association Meetings, New Orleans
October 1996, Michigan State University
June 1996 Western Finance Meetings, Sunriver , Oregon
April 1996, Cornell University
April 1996, Columbia University
April 1996, University of Iowa
Do Inventories Matter in Dealership Markets? Evidence From
The
November 1996, Conference on Dealer Markets , Ohio State University
January 1995, American Finance Association Meetings, Washington DC
August 1994, European Finance Association Meetings at Brussels
March 1994, Memphis State University/NASD Conference on `` The
Competition For Order Flow''
Disclosure and Regulation With Large Market Makers:
Analysis of the
June 1995, Western Finance Association Meetings, Aspen
, Colorado
April 1995, Carnegie Mellon University
November 1994, McGill University , Montreal , Canada
October 1994, UCLA
August 1993, European Finance Association Meetings, Copenhagen ,
Denmark
Strategic Trading When Agents Forecast the Forecast of Others
August 1994, European Finance Association Meetings at Brussels
June 1994, Western Finance Association Meetings, Santa Fe , New
Mexico
October 1993, Third Annual Accounting and Finance Conference, Washington
University at St. Louis
Can Speculative Trading Explain the Volume-Volatility Relation?
January 1994, American Finance Association Meetings, Boston ,
Massuchussetts
November 1993, Duke University-NYSE Conference in Honor of Kalman J.
Cohen
December 1992, Stanford University
December 1992, University of California at Berkeley
On The Existence of Linear Equilibria in Models of Market Making.
December 1993, Econometric Society Meetings,
Strategic Trading With Asymmetrically Informed Traders and Long-Lived Information
August 1993, European Finance Association Meetings, Copenhagen ,
Denmark
June 1993, Western Finance Association Meetings, Whistler, British
Columbia
February 1993, Boston College
November 1992, Indiana University
A New Approach to International Arbitrage Pricing
June 1993, Western Finance Association Meetings, Whistler, British
Columbia
April 1993, University of Pennsylvania
October 1992, London Business School
October 1992, The City University Business School
No Arbitrage and Arbitrage Pricing: A New Approach
December 1992, Econometric Society Meetings,
June 1992, Western Finance Association Meetings,
April 1992,
The Effect of Public Information and Competition on Trading Volume and Price Volatility
January 1991 Board of Governors of the Federal Reserve System,
Why Do Firms Hedge? An Asymmetric Information Model
February 1998 Federal Reserve Conference, Miami Beach , Florida
November 1990 Southern Finance Association Meetings, Key West ,
Florida
December 1990 American Finance Association Meetings, Washington ,
District of Columbia
May 1990 Northwestern University
April 1990 Carnegie Mellon University
Trading Cost for Target Firms Around Takeovers
December 1990 American Finance Association Meetings, Washington
, District of
June 1990 Western Finance Association Meetings,
Variations in Trading Volumes, Return Volatility and Trading Costs: Evidence on Recent Price Formation Models
December 1989 American Finance Association Meetings,
June 1988 Western Finance Association Meetings,
A Theory of Interday Variations in Volumes, Spreads and Variances
December 1988 American Finance Association Meetings,
October 1988
March 1988 Georgia Institute of Technology
June 1987 Western Finance Association Meetings,
Executive Education Teaching Experience (Non-Degree Programs)
Open Enrollment Programs
Advanced Management Program,
Program For Manager Development, Fuqua School of Business, 1994-1997.
International Marketing Leadership Program, 1996-1997
Fuqua Young Professionals Program, 1998
Mergers, Acquisitions and Corporate Restructuring Transactions 2001-2003
IIMA Duke Global Leaders Program 2007 (Program Leader)
Custom Programs
Ernst and Young/Fuqua VISION program 1996
Financial Executives Institute/Fuqua Financial Management Program 1996
Deutsche Bank: Comparative Corporate Governance 2002
Price Waterhouse Coopers: Corporate Finance and Advanced Corporate Finance
1999-2002
Infosys Senior Executives Program 2006-2007
Service
Econometric Society Program Committee, 2007 Summer meetings.
WFA Program Committee, 1993-2008.
AFA Nominating Committee, 1999, 2006.
Dean's Executive Committee of the Fuqua School of Business, 2001-2006.
Area Co-ordinator (Finance), 1998-2001.
Ph.D. Co-ordinator (Finance), 1998-2002.
Oversight Committee,
Curriculum Committee, Fuqua School of Business, 1992-1995.
Judicial Board, Fuqua School of Business, 1992-1994.
Recruiting Committee (Finance Area), 1987-2001.
Finance Brown Bag Seminar Series 1993-2000.
Doctoral Committees
Bruce Carlin (2007) (Chairman, UCLA), Bin Wei (2007) (Chairman, Baruch College), Florin Dorabantu (2007) (Chairman, Brattle Group), Will Xu (Co-Chairman, Hong Kong University, 2005), Matt Rhodes- Kropf (1998) Chairman, Columbia ), Mohan Gopalan (2005) (Chairman, Barclays Global Investors), Lakshman Easwaran (2005, Lehman Brothers) (Chairman), Narayan Naik (1991, London Business School ), Wei Xiong (2000, Princeton ), Lin Peng (2003, City University of New York ), Jim Gilkeson (1993, USF), Albert Wang (1994, Columbia ), Akhtar Siddique (1994,Georgetown ), Susan Monaco (1994, Indiana ), Scott Mixon (1995).
Professional Associations
The American Finance Association, The Econometric Society, The Society for the Promotion of Financial Studies, The Western Finance Association.
Referee Activity
Journal of Finance, Review of Financial Studies, Journal of Finance and Quantitative Analysis, Journal of Economics and Business Statistics, Journal of Financial Intermediation, Journal of Empirical Finance, Financial Management, Review of Economic Studies, Econometrica