Rajeev Bhattacharya

Professor


Ph.D., University of Rochester

Finance

  • Bio

    Professor Rajeev R. Bhattacharya, Ph.D. has over twenty-five years’ research, consulting, and teaching experience in finance, economics, and Big Data. He is a finance professor at the Cox School of Business at Southern Methodist University and has served on the full-time faculty of University of Maryland, Georgetown University, Washington University in St. Louis, and University of New South Wales. He teaches financial economics, capital markets, derivatives, applied microeconomics, and industrial organization. He has recently published a book Options and Market Efficiency: A Big Data Approach. He has also published highly-regarded articles in leading journals on securities class actions and efficiency of capital markets; options; capital asset pricing model (CAPM); agency theory; price wars and pricing; trust (over 1,100 citations); and other topics, in journals such as Berkeley Business Law Journal (“the top commercial law journal in the country”), Annals of Financial Economics, Journal of International Business and Law, Journal of Business, Entrepreneurship and the Law, Santa Clara Law Review, and Academy of Management Review (the best journal in management), in conference proceedings such as those of the Econometric Society (the leading scholarly organization for quantitative economics and finance); and in the Palgrave Encyclopedia (the ultimate authority on scholarly writing). A recent publication of his in finance and Big Data is profiled on the website of Stanford University. He has worked with leading consulting firms such as Boston Consulting Group, Law & Economics Consulting Group, and Berkeley Research Group (where he was Managing Director). Dr. Bhattacharya has been a testifying expert on a number of matters including level of efficiency of the market for a stock and its implications for the use of market price as an approximation for value; harm to investors under allegations of securities manipulation; measuring harm as a result of delays in delivery of options, warrants and other derivatives; class certification and damages in a class action; tying and price fixing; impact of alleged vertical foreclosure on price, quantity and quality; violation of intellectual property; and profits lost by a retailer due to directory error. As a consulting expert in finance and Big Data, Dr. Bhattacharya has applied state-of-the-art and innovative economic and econometric methods (especially event studies) to litigation and regulation matters involving fraud on the market, including market manipulation (e.g., stocks, auction rate securities) and insider trading issues; impact of trades; best execution by financial institutions; trading by market makers and broker-dealers (e.g., interpositioning, trading ahead and front running); valuation of firms and portfolios; bankruptcy and fraudulent conveyance; book building, orders and laddering in public offerings (e.g., I.P.O., S.E.O.); conflict of interest in analyst reports; and other issues involving stocks, bonds, options, warrants and other derivatives. He has advanced programming skills in SAS, and has over fifteen years’ experience supervising programming in SAS and Stata. As a consulting expert in applied microeconomics, Dr. Bhattacharya has applied advanced economic and statistical methods to complex litigation matters involving commercial disputes; market definition; monopolization; price fixing; single entity defense; off-label marketing; lost profits and reasonable royalties; price erosion; bankruptcy and fraudulent conveyance; tying; and auctions; across a variety of industries. He has also served as an expert in many class actions and damages matters. Professor Bhattacharya has a Ph.D. in economics from the University of Rochester. He has been declared an Outstanding Researcher by the U.S. Federal Government.

  • Teaching

    Derivatives, Capital Markets, Financial Economics, Applied Microeconomics, Industrial Organization
  • Research

    Market Efficiency, Analyst Behavior, Industrial Organization
  • Select Publications

    1. “An Option Theoretic Approach to Market Efficiency,” Annals of Financial Economics, 2019 (http://ssrn.com/abstract=3178740) 2. “Objective Measures of Market Efficiency; Applications to Securities Class Actions and Valuations,” Berkeley Business Law Journal, 2019 (https://ssrn.com/abstract=3147071) 3. Options and Market Efficiency: A Big Data Approach, Lambert Academic Publishing, 2020 (https://www.amazon.com/Options-and-Market-Efficiency/dp/6200532281/ref=sr_1_1?keywords=options+market+efficiency&qid=1583235021&sr=8-1) 4. “Nash Bargaining Solution in Intellectual Property Litigation; VirnetX and Analysis of the Court’s Decision,” Journal of International Business and Law, 2020 (https://ssrn.com/abstract=2981024) 5. “The Economics and Antitrust of Bundling,” Journal of Business, Entrepreneurship and the Law, 2020 (http://ssrn.com/abstract=3384230) 6. “Arbitrage Risk and Market Efficiency – Applications to Securities Class Actions,” with Stephen O’Brien, Santa Clara Law Review, 2015; profiled on the website of Stanford University (http://securities.stanford.edu/resources-academic.html) 7. “Capital Asset Pricing Model (CAPM),” in David Teece and Mie Augier (eds.), The Palgrave Encyclopedia of Strategic Management, Palgrave Macmillan, 2014 (https://ssrn.com/abstract=2981076) 8. “Multistage Games,” with Edward Sherry, in David Teece and Mie Augier (eds.), The Palgrave Encyclopedia of Strategic Management, Palgrave Macmillan, 2014 (https://ssrn.com/abstract=2981092) 9. “Bertrand Competition,” with Edward Sherry, in Mie Augier and David Teece (eds.), The Palgrave Encyclopedia of Strategic Management, Palgrave Macmillan, 2014 (https://ssrn.com/abstract=2981091) 10. “Linear Programming,” in Mie Augier and David Teece (eds.), The Palgrave Encyclopedia of Strategic Management, Palgrave Macmillan, 2014 (https://ssrn.com/abstract=2981081) 11. “Repeated Games,” in Mie Augier and David Teece (eds.), The Palgrave Encyclopedia of Strategic Management, Palgrave Macmillan, 2014 (https://ssrn.com/abstract=2981086) 12. “Price Discrimination,” in Mie Augier and David Teece (eds.), The Palgrave Encyclopedia of Strategic Management, Palgrave Macmillan, 2014 (https://ssrn.com/abstract=2981084) 13. “A Formal Model of Trust Based on Outcomes,” with Timothy Devinney and Madan Pillutla, Academy of Management Review, 1998 (over 1,050 citations) 14. “When Principals Elect Agents,” with Ray Ball and Glenn MacDonald, in Peter Bardsley and Vance Martin (eds.), Econometric Society Australasian Meeting 1997 Proceedings, University of Melbourne, 1997 15. “Non-Monotonicity of Equilibrium Price – Two Static Models,” in Michael McAleer, Paul Miller, Anthony Hall, and William Schworm (eds.), Econometric Society Australasian Meeting 1996 Proceedings, University of Western Australia, 1996