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Vita
Research/Teaching Interests
My research has encompassed all major areas of finance including asset pricing including derivatives like the options and futures markets, market microstructure, investments, corporate finance and banking. My research papers have appeared in the Journal of Finance, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, the Journal of Financial Markets, the Journal of Fixed Income, the Financial Management, the Journal of Business, and the Journal of Financial Intermediation, among others. I also serve as an Associate Editor of the Journal of Financial Markets.
Being in a consumer focused department, I have also analyzed issues related to consumers and banking, banking relationships, bank switching behavior, consumers’ attitudes to new innovations, and related topics, including experimental economics and understanding consumer behavior within an experimental laboratory setting.
I am also engaged in the emergent area of computational social science. Specifically, I am interested in taking high frequency data (stock market data or consumer purchase information) and discovering meaningful patterns that could lead to profound insights and predictive consumer behavior.
Another favorite area of mine involves financial literacy. At Purdue I teach a course called Personal Finance (CSR 342). In this course, we teach the basic skills related to money management, credit, insurance and retirement. The class is a blend of distilling the findings of hardcore academic research (a lot of it done by me and my co-authors) into a form that is usable information for my students. I also cover all popular and current topics and strive to relate them back to the basic principles or the underlying theory. The class is structured around a football cliche: "Offense wins games but defense wins championships." I feel strongly that we need to have solid offensive and defensive strategies in order to win the game of life. Thus, for example, investing (including those for retirement) is an offensive strategy while insurance is a defensive strategy. Credit (aka special team) can move the line of scrimmage from one's 20-yard line to the 40 yard line (or beyond) and thereby makes it easier to score a PFT (personal finance touchdown).
I am currently engaged in an exciting new project involving a variant of Twitter (at Purdue it is called HotSeat) in examining whether social networking can be used in a meaningful way among students to enhance learning and student interaction in large lectures.
Selected Refereed Publications
Anand, A., S. Chakravarty, and C. Chuwonganant, 2009, Cleaning House: Stock Reassignments on the NYSE, forthcoming, the Journal of Financial Markets.
Chakravarty, S., P. Kadiyala, 2009, Ex Ante Estimation of a Firm’s Distress Risk Parameters from Bond Transaction Data, forthcoming, the Journal of Fixed Income.
Chakravarty, S., and T. Yilmazer, 2008, A Multistage Model of Loans and the Role of Relationships, forthcoming Financial Management.
Anand, A., and S. Chakravarty, 2007, Stealth trading in Options Markets, Journal of Financial and Quantitative Analysis, 42, 167-188.
Chakravarty, S., V. Panchapagesan, and R.A. Wood, 2005, Did Decimalization Hurt Institutional Investors? Journal of Financial Markets, 8, 400-420.
Anand, A., S. Chakravarty, and T. Martell, 2005, Empirical Evidence on the Evolution of Liquidity: Choice of Market versus Limit Orders by Informed and Uninformed Traders, Journal of Financial Markets, 8, 288-308.
Chakravarty, S., and A. Dubinsky, 2005, “Individual Investors’ Reactions to Decimalization: Innovation Diffusion in Financial Markets,” Journal of Economic Psychology, 26, 89-103.
Chakravarty, S., H. Gulen and S. Mayhew, 2004, “Informed Trading in Stock and Options Markets,” Journal of Finance, 59, 1235-1258.
Chakravarty, S., R. Feinberg, and E. Rhee, 2004, “Relationships and Individuals’ Bank Switching Behavior,” Journal of Economic Psychology, 25, 507-527.
Chakravarty, S., and A. Sarkar, 2003, “A Comparison of Trading Costs in the U.S. Corporate, Municipal and Treasury Bond Markets,” Journal of Fixed Income, 13, 39-48.
Chakravarty, S., and K. Li, 2003, “An Examination of Own Account Trading by Dual Trading in Futures Markets,” Journal of Financial Economics, 69, 375-397.
Chakravarty, S., and K. Li, 2003, “A Bayesian Analysis of Dual Trader Informativeness in Futures Markets,” Journal of Empirical Finance, 10, 2003, 355-371.
Chakravarty, S., 2001, “Stealth trading: Which traders’ trades move stock prices?” Journal of Financial Economics, 61, 289-307.
Chakravarty, S., and J.S. Scott, 1999, “Relationships and Rationing in Consumer Loans,” Journal of Business, 72, 1999, 523-544.
Chakravarty, S., and J.J. McConnell, 1999, “Does Insider Trading Really Move Stock Prices?” Journal of Financial and Quantitative Analysis, 1999, 34, 191-209.
Chakravarty, S., A. Sarkar and L. Wu, 1998, “Information Asymmetry and the Pricing of Cross-Listed Stocks: Evidence from Chinese A- and B-Shares,” Journal of International Financial Markets, Institutions and Money, 8, 1998, 325-355.
Chakravarty, S., and J.J. McConnell, 1997, “An Analysis of Prices, Bid/Ask Spreads, and Bid and Ask Depths Surrounding Ivan Boesky’s Illegal Trading in Carnation’s Stock,” Financial Management, 26, 1997, 18-34.
Chakravarty, S., and C. Holden, 1995, “An Integrated Model of Market and Limit Orders,” Journal of Financial Intermediation, 4, 1995, 215-241.
Professional Organizations
- American Finance Association
- Western Finance Association
- Financial Management Association
- American Council on Consumer
Interests
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