D.K.MALHOTRA

 

School of Business Administration

Philadelphia University

School House Lane and Henry Avenue

Philadelphia, PA 19144-5497

Email: MalhotraD@philau.edu

(215) 951-2813

 

AREAS OF SPECIALIZATION

Teaching Interests: Corporate Finance, Investments, International Finance, Derivatives, and Fixed Income Securities

 

EXPERIENCE

 

  •  Professor of Finance since Fall 2005

  • Associate Professor of Finance, Philadelphia University [Fall 1999 – fall 2005]

  • Assistant Professor of Finance, Philadelphia University [Fall 1993 – fall 1999]

 

  • Visiting Professor of International Finance, Arthur Jack Graduate School of Business, University of West Indies

  •  Visiting Professor of Finance, BIMTECH, NOIDA, India

  •  Visiting Professor of Finance, Apeejay Institute of Management and Technology, New Delhi, India

 

 

AWARDS

 

Ø      Philadelphia University’s Outstanding Research Award 2006-2007

Ø      SBA Outstanding Research Award 2004-2005

Ø      SBA Outstanding Research Award 2003-2004

Ø      SBA Outstand Teaching Award 2000-2001

Ø      SBA Outstanding Research Award 1999-2000

Ø      President's Award for Excellence in Teaching (1999)

Ø      SBA Outstanding Research Award 1998-1999

 

REFEREED JOURNAL ARTICLES

 

  1. "Analyzing Financial Services Industry Using Data Envelopment Analysis," co-authored with Rashmi Malhotra and Andy Lafond, International Journal of Applied Management Science, (Accepted)

  2. "Performance of Levered Closed-end Funds," co-authored with Rand Martin, Journal of Financial Planning (Accepted).

  3. "Evaluating the Efficiency of the European Union Integration," co-authored with Rashmi Malhotra, International Journal of Commerce and Management (Accepted).

  4. "Analyzing Financial Statements Using Data Envelopment Analysis," co-authored with Rashmi Malhotra, Commercial Lending Review, Volume 23, 5, September/October 2008, 25-61.

  5. "Relationship between Implied and Realized Volatility of S&P CNX Nifty Index  in India," co-authored with S.P. Panda and Niranjan Swain, Frontiers in Finance and Economics, 1, 2008.

  6.  "Determinants of Cost Efficiencies in the Mutual Fund Industry," co-authored with Rand Martin and Philip Russel, Review of Financial Economics, Volume 16, 4, December 2007, 323-334.

  7.  "Determinants of Financial Leverage--An Empirical Analysis of Textile and Apparel Firms," co-authored with Anusua Datta and Philip Russel, International Journal of Business and Economics, Volume 6, 1, Fall 2007.

  8.  "Determining the Optimal Hedge Ratio--Evidence from the Soybean and Cotton Markets," co-authored with Vivek Bhargava, Journal of Business and Economic Studies, Spring 2007, 13, 1, 38-57.

  9.  "Relationship between Futures Trading Activity and Exchange Rate Volatility, Revisited," co-authored with Vivek Bhargava, Journal of Multinational Financial Management, Volume 17, 1, February 2007.

  10.  "Volatility Spillover between Stock and Foreign Exchange Markets: Indian Evidence," co-authored with Alok Kumar Mishra and Niranjan Swain, International Journal of Business, 12, 3, Summer 2007.

  11.  "Do Price-Earnings Ratios Drive Stock Values?" Co-authored Vivek Bhargava, Journal of Portfolio Management, 33, 1, Fall 2006, 86-92.

  12.  "Performance of European Union Trading Bloc:  Did Integration Help Nations?" co-authored with Elizabeth Mariotz, Journal of Global Business and Technology, 1, 2, Fall 2005, 34-50.

  13.  "Ratio Analysis and its use in Portfolio Diversification using RMA's Annual Statement Studies," co-authored with Andy Lafond and Fran Garritt, The Risk Management Association  Journal, May 2006.

  14. "Benchmarking European Union Nations Using Data Envelopment Analysis," co-authored with Rashmi Malhotra and Elizabeth Mariotz, International Journal of Finance,

  15. "The Impact of Internet and E-Commerce on the Evolving Business Models in the Financial Services Industry," co-authored with Rashmi Malhotra, International Journal of Electronic Business, Vol.4:1, pg. 56-82,

  16. "O Longo Caminho até a Securitização no Middle-Market." Co-authored with Francis Garritt and Eric Taub, Technologia de Crédito, Abril 2005, 68-84. (reprinted in Portuguese)

  17. "Using Data Envelopment Analysis to Evaluate Loans." Co-authored with Rashmi Malhotra, The Risk Management Association Journal, October 2005.

  18. "Determinants of Treasury-LIBOR Swap Spreads." Co-authored with Vivek Bhargava and Mukesh Chaudhry, Review of Pacific Basin Financial Markets and Policies, Vol. 8, No. 4 (2005) 687-705.

  19.  "Cost Efficiencies in the Management of Australian Superannuation Funds." Co-authord with Vijaya Marisetty and M. Ariff, International Journal of Finance, Volume 17, number 3, 2005.

  20. "Regional Trade Pacts and the Competitiveness of the U.S. Textile Industry." Co-authored with Anusua Datta and Philip Russel, Competitiveness Review, 16, 3&4, 262-275, 2006, .

  21.  "Structural Relationships in the Semi-Annual and Annual Interest Rate Swap Contracts" co-authored with Mukesh Chaudhry and Vivek Bhargava, Journal of Derivatives Accounting, Volume 2, 1, 2005.

  22.  "Exchange Traded Funds: Poised to Challenge Index Funds." Co-authored with Philip Russel and C. Shekhar, JASSA, 3, Spring 2004, 27-30.

  23. "Does Global Diversification Pay?" co-authored with Vivek Bhargava and Daniel F. Konku, Financial Counseling and Planning Journal, 15, 1, 2004.

  24. "An Empirical Examination of Australian Superannuation Fund Expenses" co-authored with Rand Martin and Vijaya Marisetty, Review of Pacific Basin Financial Markets and Policies, 7, 4, 2004.

  25. "An Empirical Analysis of the Yen-Dollar Currency Swap Market Efficiency" co-authored with Rand Martin and Vivek Bhargava, International Journal of Business, 9, 2, 2004.

  26.  "The Long Road to Middle-Market Securitization" co-authored with Fran Garritt and Eric Taub, The Risk Management Association Journal, Vol. 85, 9, June 2003, 56-61.

  27. "Evaluating Consumer Loans Using Neural Networks" Omega--The International Journal of Management Science, Vol. 31, 2, 83-97.

  28. "Investment Selection and Closed- and Open-end Bond Funds Expenses" co-authored with Rand Martin and Robert W. McLeod, Journal of Business and Economic Studies, Vol. 9, 1, Spring 2003.

  29. "A Comparative Analysis of the Expense Ratios of Domestic and International Open-end and Closed-end Equity Funds." Co-authored with Rand Martin and Robert W. McLeod, Financial Counseling and Planning, 12, 2, 2001.

  30.  "Preparing the Human Capital for the New Millennium Using Information Technology." Co-authored with Rashmi Malhotra, Monograph on Teaching in International Business, 2003.

  31.  "Community Bankers' Guide to Credit Derivatives: Uses, Risks, and Future."  Co-authored with Fran Garritt and Philip Russel, The Risk Management Association Journal, December/January 2002.

  32. "Community Bankers' Guide to Credit Derivatives: The Basics."  Co-authored with Fran Garritt and Philip Russel, The Risk Management Association Journal, November 2001, 42-47.

  33. "Preparing the Human Capital for the New Millennium Using Information Technology." Co-authored with Rashmi Malhotra, Journal of Teaching in International Business, Vol. 14, Nos. 1 & 2, 2003.

  34.  “Differentiating Between Good and Bad Credits Using Neuro-Fuzzy Systems."  Co-authored with Rashmi Malhotra, European Journal of Operational Research, 136, 1, January 2002, 190-211.

  35. "Implied Volatilities, Stochastic Interest Rates, and Currency Futures Options Valuation: An Empirical Investigation."  Co-authored with Vivek Bhargava and Robert Brooks, European Journal of Finance, Volume 7, 3, September 2001, 231-246.

  36. "Ellipse--An Object-Oriented and Database Coupled Expert System Development Environment." Co-authored with Rashmi Malhotra, Journal of Intelligent Systems, Volume 10, 4, 345-376.

  37. "Identifying Potential Loan Defaulters in the Credit Union Environment -- A Comparative Analysis of Statistical and Neural Network Models." Journal of Information Technology Cases and Applications, Volume 2, 2, 2000, 20-48..

  38. "Closed-End Funds Expenses and Investment Selection."  Co-authored with Robert W. McLeod, The Financial Review, Volume 35, 1, February 2000, 85-104.  

  39. "Using Interest Rate Swaps for Asset-Liability Management." Co-authored with Fran Garritt and Ray Poteau, The International Journal of Finance, Volume 13, 4, 2001 (forthcoming).

  40. "Soybean Futures Seasonality as a Guide to Producer Profit".  Co-authored with Vivek Bhargava and Randy Tillman, The International Journal of Finance, Vol. 14, 4, 2002, 2398-2405.

  41. "A Reexamination of the Stock Return Volatility and Beta Changes around Stock Splits."  Co-authored with Rand Martin, The International Journal of Finance, Volume 11, 3, 1458-1480.

  42. "Using Fuzzy Logic and Neuro-fuzzy Systems for Loan Evaluation."  Co-authored with Rashmi Malhotra, Journal of Lending and Credit Risk Management, Vol 81, July/August 1999, 24-27.

  43. "The Effect of Interest Rate Reset Period on the Bid-Offer Rates in an Interest Rate Swap Contract." Journal of Multinational Financial Management, Spring 1998.

  44. "The Effect of Credit Risk on the Duration of an Interest Rate Swap Contract." The International Journal of Finance, Volume 10, number 1, 1998, 944-956.

  45.  "An Empirical Examination of the Interest Rate Swap Market." Quarterly Journal of Business and Economics, Spring 1997, Vol. 36, 2, 19-29.

  46.  "An Empirical Analysis of Mutual Fund Expenses." Co-authored with Robert McLeod, The Journal of Financial Research, Summer 1997.

  47.  "An Empirical Analysis of Risk and Return in World Stock Markets." Co-authored with Quy Pham, Journal of Global Business, Volume 7, 13, Fall 1996, 7-17.

  48.  "The Effect of 12b-1 Rule on Bond Fund Expense Ratios." Co-authored with Robert McLeod, Journal of Economics and Finance, Volume 20, Number 1, Spring 1996, 65-78.

  49.  "Duration of a Cross-Currency Swap Contract and Exchange Rate and Interest Rate Risk Management." Journal of Multinational Financial Management, March 1996. Abstracted in the ISFA Digest, Fall 1996.

  50.  "Exchange Rate Risk Management With Cross-Currency Swaps and Swaptions." Co-authored with John S. Evans, The Journal of Commercial Lending, July 1995, 51-64.

  51.  "Default Risk in Cross-Currency Swaps and Changes in the Credit Standing of the Parties." Co-authored with John S. Evans, Journal of Global Business, Volume 6, Number 10, Spring 1995, 55-64.

  52.  "Hedging Interest Rate Risk in Real Estate Using Interest-Rate Swaps and Swaptions." Co-authored with Robert W. McLeod, The Real Estate Finance Journal, Spring 1995, 60-65.

  53.  "Artificial Neural Systems in Commercial Lending." Co-authored with Robert W. McLeod and Rashmi Malhotra, The Banker’s Magazine, November/December 1994, 44-50.

  54.  "A Reexamination of the Effect of 12b-1 Plans on Mutual Fund Expense Ratios." Co-authored with Robert W. McLeod, Journal of Financial Research, Summer 1994, Vol. 17, 231-241.

  55.  "Components of the Bid-Ask Spread in Default-Risky Interest Rate Swaps." Co-authored with Robert Brooks, Advances in Futures and Options Research, Vol. 7, 1994, 237-249.

  56.  "Predicting Credit Risk - A Neural Network Approach." Co-authored with Robert W. McLeod and Rashmi Malhotra, Journal of Retail Banking, Fall 1993, Vol. 15, 37-40.

  57.  "Understanding Cross-Currency Swaps." Co-authored with John S. Evans, The Banker’s Magazine, March/April 1994, 55-59.

  58.  "Emerging Trends in Interest Rate Swaps." Co-authored with Robert McLeod, The Banker's Magazine, Vol. 175, May/June 1993.

PROCEEDINGS PUBLICATIONS (Refereed)

1.      "Differentiating between Good Credits and Bad Credits Using Neuro-Fuzzy Systems." Co-authored with Rashmi Malhotra, Published in the Proceedings of the Decision Sciences Institute Conference 1999.

2.      "A Multifold Comparison of Statistical and Neural Network Models to Evaluate Consumer Loans." Co-authored with Rashmi Malhotra, published in the Proceedings of the Southeast Decision Sciences. (BEST-APPLIED PAPER AWARD)

3.      "A Gradient Descent Approach to Analyze Consumer Loans." Co-authored with Rashmi Malhotra, published in the proceedings of the Northeast Decision Sciences Institute annual meetings at Annapolis 1997.

PROCEEDINGS ABSTRACTIONS (Refereed)

1.      "An Object-Oriented Backpropagation Simulator for Predicting Default Risk in Consumer Lending." Co-authored with Rashmi Malhotra and Robert McLeod, abstracted in the proceedings of the Decision Sciences Institute annual meetings at Orlando, 1996.

OTHER PUBLICATIONS

Ø      Duration of a Cross-Currency Swap Contract and Exchange Rate and Interest Rate Risk Management." Journal of Multinational Financial Management, March 1996, abstracted in ISFA Digest, Fall 1996

Ø      "Valuation of Currency Options." Co-authored with John S. Evans in the book titled International Finance - A Markets Approach (by John S. Evans), Dryden Press, April 1992

RECENT REFEREED CONFERENCE PRESENTATIONS (Total Presentations over 100)

1.      “Economies of Scale in the Mutual Fund Industry,” co-authored with Rand Martin and Philip Russel, presented at the Asian FMA meetings, Auckland, New Zealand, July 2006.

2.      “Relationship between Futures Trading Activity and Exchange Rate Volatility, Revisited," co-authored with Vivek Bhargava, presented at the Financial Management Association meetings, Salt Lake City, Utah, October 2006.

3.      “Benchmarking European Union Nations Using Data Envelopment Analysis” Co-authored with Rashmi Malhotra and Elizabeth Mariotz, presented at Global Finance Conference, Dublin, June 2005.

4.      "Determinants of Australian Dollar Interest Rate Swap Spreads,” presented at the Financial Management Association (Asian), Kuala Lumpur, Malaysia, July 2005.

5.      “Do Price-Earnings Ratios Drive Stock Values,” co-authored with Vivek Bhargava, presented at the Financial Management Association meetings, Chicago, Illinois, October 2005.

6.      “Investment Focus and Closed-End Funds,” Co-authored with Rand Martin, presented at Academy of Financial Services Conference, New Orleans, October 2004

7.      “Closed-End Fund Performance,” Co-authored with Rand Martin, presented at the Academy of Financial Services Conference, October 2003. 

8.      “Economies of Scale in the Management of Mutual Funds,” Co-authored with Rand Martin, presented at the Eastern Finance Association Conference, April 2003.

9.      “An Empirical Analysis of Yen-Dollar Currency Swap Market Efficiency,” co-authored with Vivek Bhargava and Rand Martin, presented at the Western Social Sciences Association Conference, 2002.

10. “Determinants of Interest Rate Swap Spreads—An Error Correction Model Approach”, co-authored with Mukesh Chaudhry and Vivek Bhargava, presented at the Financial Management Association Conference, Toronto, Canada, October 2001.

11. “Evaluating Consumer Loans Using Neural Networks”, co-authored with Rashmi Malhotra, presented at the Decision Sciences Institute Conference, San Francisco, November 2001.

12. “An Empirical Examination of the Yen-Dollar Currency Swap Market”, co-authored with Vivek Bhargava, presented at the European Financial Management Association, Paris, France, May 2001.

13. “Economies of Scale and Cost Factors for Closed-end Funds”, co-authored with Rand Martin and Sue Christoffersen, presented at the Eastern Finance Association, Charleston, South Carolina, April 2001.

14. “A Comparative Analysis of Open- and Closed-end Equity Funds”, co-authored with Rand Martin and Robert McLeod, presented at the Financial Management Association Conference, Seattle, Washington, October 2000.

15. “Differentiating between Good and Bad Credits Using Neuro-fuzzy Systems”, co-authored with Rashmi Malhotra, presented at the Decision Sciences Institute Conference, New Orleans, November 1999.

PROGRAM DEVELOPMENT

·        Coordinated International Business Trip for MBA students to London, Brussels, and Paris, March 2000

·        Developed and coordinated International Business Trip for MBA students to Asia.

·        International Business Trip, Singapore/Hong Kong, March 2001

·        International Business Trip, Tokyo/Bangkok, March 2002

·        International Business Trip, Beijing/Shanghai, March 2003

·        International Business Trip, Delhi/Mumbai, March 2004

·        International Business Trip, Delhi/Mumbai, March 2005

·        International Business Trip, Bangkok/Hong Kong, March 2006

·        International Business Trip, Hong Kong/Shenzhen/Guangzhou, March 2007

·        International Business Trip, Beijing/Shanghai, March 2008

·        MBA students have visited Liz Claiborne, KPMG, Johnson and Johnson, Du Pont, Textile Alliance, Luen Thai, Dong Guan Footwears, Bajaj Auto, Uttam Galva Steel, Arthur Anderson, Hitachi, and Honeywell under this international business trip.

 

·        Developed and offered a course in Fixed Income Securities for MBA students

 

·        Developed and offered a course in Speculative Markets for MBA students

 

·        Developed and offered a course in Commercial Bank Management for MBA students

 

·        Developed a new major in Financial Information Systems for undergraduate students at Philadelphia University

 

·        Developed Graduate Certificate Program in Finance at Philadelphia University

 

·        Developing a joint degree MBA program with a management institute in India

 

·        Developing a joint degree MBA program with a university in China

 

·        Developing a joint degree MBA program with a university in Thailand

 

RECENT UNIVERSITY SERVICE ACTIVITIES

2008-2009

            Chair, School of Business Personnel Committee

            Member, Faculty Personnel Committee

            Member, SBA Steering Committee on Strategic Planning

            Member, School of Business Graduate Education Committee

            Faculty Advisor, Financial Management Association

International, Philadelphia University Student Chapter

2007-2008

            Member, Faculty Affairs and Development Committee

            Member, School of Business Administration, Faculty Personnel

Committee

Member, School of Business Administration, Graduate Education

Committee

Member, School of Business Dean Search Committee

Faculty Advisor, Financial Management Association

International, Philadelphia University Student Chapter

 

2006-2007

            Member, School of Business Dean Search Committee

            Member, Graduate Dean Search Committee

Member, Faculty Affairs and Development Committee

            Member, School of Business Administration, Faculty Personnel

Committee

Member, School of Business Administration, Graduate Education

Committee

Founder and Faculty Advisor to Financial Management Association

International, Philadelphia University Student Chapter

2005-2006

Member, Faculty Affairs and Development Committee

Member, School of Business Graduate Education Committee

Member, School of Business Undergraduate Education Committee

2004-2005

Member, Faculty Affairs and Development Committee

Member, School of Business Graduate Education Committee

Member, School of Business Undergraduate Education Committee

2002-2003

            Chair, Philadelphia University Faculty Personnel Committee

            Chair, School of Business Administration Personnel Committee

           

 

OTHER PROFESSIONAL ACTIVITIES

1.      Quoted by the Business Credit Magazine on credit risk (May/June 2001)

2.      Quoted by the KPMG Insiders Newsletter on credit risk (June 2001)

3.      Quoted by the Investor's Business Daily on Plunge in Euro (Monday September 25, 2000)

4.      Quoted by New York Times on Mutual Funds Expenses (February 1, 1998)

5.      Quoted by Philadelphia Inquirer on the Merger of Cores State Bank with First Union Bank (November 20, 1997) 

 

EDUCATION

1. Ph.D. (Finance), University of Alabama, Tuscaloosa, Alabama, Summer 1993.

2. MA (Finance), University of Alabama, Fall 1991.

3. MS in Accounting & Business, Delhi School of Economics, University of Delhi, India, July, 1982.

4. BS in Accounting & Business, University of Delhi, India, July 1980.

 

UNPUBLISHED DISSERTATION

Pricing Interest Rate Swaps - An Empirical Analysis

 

PROFESSIONAL ORGANIZATION MEMBERSHIPS

Financial Management Association; Academy of Financial Services; Eastern Finance Association; Midwest Finance Association; Southern Finance Association; Southwestern Finance Association; Academy of International Business; Multinational Finance Society

HONORS

Ø      Biographical profile included in Marquis Who’s Who in America, 52nd Edition, 1998.

Ø      Biographical profile included in Marquis Who’s Who in the East, 26th edition, 1997-98.

Ø      Biographical profile included in Marquis Who’s Who in Finance and Industry.

Ø      Won the Best Applied Paper Award at the Southeast Decision Sciences Conference, Roanoke, Virginia, 1998

Ø      Won the Chicago Board of Trade Best Paper Award at the Southwest Finance Association meetings in San Antonio, Texas

 

 

 

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