FACULTY
Learning from some of the best minds in education and in the industry
Prof. Raunaq Pungaliya
Dean, Faculty of Business; ENAM Professor of Finance.
Email: raunaq.pungaliya@flame.edu.in
Professor Pungaliya holds a PhD in Finance from University of Iowa. He has a B.A. in Economics,
B.B.A in International Business, and a minor in Applied Mathematics (summa cum laude) from
University of Akron.
BIO
Prof. Raunaq Pungaliya is the ENAM Professor of Finance and Dean of the Faculty of Business at FLAME University.
A financial economist & academic leader, he works at the intersection of corporate finance, asset management, & the application of artificial intelligence to financial markets. He joins FLAME University from the SKK Graduate School of Business at Sungkyunkwan University in Seoul, where he served as the Vice Dean, Professor of Finance, & the Co-Director of the AI in Business Innovation Lab. He has also served as a Senior Visiting Scholar at the Reserve Bank of India’s Center for Advanced Financial Research & Learning (CAFRAL) and was an International Faculty Fellow at the MIT Sloan School of Management.
Over more than a decade at SKK GSB, Professor Pungaliya held a succession of academic leadership roles spanning the school’s flagship & specialized programs. As Vice Dean of AI & Analytics Programs, he led the design & launch of several degree programs including the Master of Science in Business Analytics, the Business Analytics MBA, & the AI MBA, placing data-driven & AI-centered learning at the core of the curriculum. He had earlier chaired SKK GSB’s Financial Times–ranked Full-Time MBA program, & its tri-continent Master in Management program, offered jointly with EDHEC Business School & the Haas School of Business at the University of California, Berkeley. His research has appeared in leading journals, including Management Science, The Accounting Review, the Journal of Financial and Quantitative Analysis, the Review of Finance, the Journal of Banking & Finance, the Journal of Financial Markets, & Economic Theory.
A dedicated educator, he has earned over a dozen teaching awards at SKK GSB. His teaching spans investment management, capital markets, financial management, fintech & banking analytics, & international finance. He has also delivered executive education for organizations & institutions including Samsung Electronics, Samsung Securities, the Korea Banking Institute, Kookmin (KB) Bank, Incheon International Airport Corporation, Brown University, and Indiana University’s Kelley School of Business. At FLAME University, he brings an emphasis on analytics, artificial intelligence, & globally engaged management education to the leadership of the School of Business.
He holds a PhD in Finance from the University of Iowa. He has a B.A. in Economics, B.B.A in International Business, and a minor in Applied Mathematics (summa cum laude) from the University of Akron.
A financial economist & academic leader, he works at the intersection of corporate finance, asset management, & the application of artificial intelligence to financial markets. He joins FLAME University from the SKK Graduate School of Business at Sungkyunkwan University in Seoul, where he served as the Vice Dean, Professor of Finance, & the Co-Director of the AI in Business Innovation Lab. He has also served as a Senior Visiting Scholar at the Reserve Bank of India’s Center for Advanced Financial Research & Learning (CAFRAL) and was an International Faculty Fellow at the MIT Sloan School of Management.
Over more than a decade at SKK GSB, Professor Pungaliya held a succession of academic leadership roles spanning the school’s flagship & specialized programs. As Vice Dean of AI & Analytics Programs, he led the design & launch of several degree programs including the Master of Science in Business Analytics, the Business Analytics MBA, & the AI MBA, placing data-driven & AI-centered learning at the core of the curriculum. He had earlier chaired SKK GSB’s Financial Times–ranked Full-Time MBA program, & its tri-continent Master in Management program, offered jointly with EDHEC Business School & the Haas School of Business at the University of California, Berkeley. His research has appeared in leading journals, including Management Science, The Accounting Review, the Journal of Financial and Quantitative Analysis, the Review of Finance, the Journal of Banking & Finance, the Journal of Financial Markets, & Economic Theory.
A dedicated educator, he has earned over a dozen teaching awards at SKK GSB. His teaching spans investment management, capital markets, financial management, fintech & banking analytics, & international finance. He has also delivered executive education for organizations & institutions including Samsung Electronics, Samsung Securities, the Korea Banking Institute, Kookmin (KB) Bank, Incheon International Airport Corporation, Brown University, and Indiana University’s Kelley School of Business. At FLAME University, he brings an emphasis on analytics, artificial intelligence, & globally engaged management education to the leadership of the School of Business.
He holds a PhD in Finance from the University of Iowa. He has a B.A. in Economics, B.B.A in International Business, and a minor in Applied Mathematics (summa cum laude) from the University of Akron.
RESEARCH & PUBLICATIONS
Research
- “The Great Banking Divide: the Impact of Size on Bank Funding Structures,” with Hassan Naqvi (Monash University), 2024, The Encyclopedia of Monetary Policy, Financial Markets, and Banking: Elsevier Reference Collection.
- “Financial Maintenance Covenants in Bank Loans,” with Redouane Elkamhi (University of Toronto) and Latchezar Popov (Texas Tech University), 2023, Economic Theory 76, 1197-1255.
- “Bank Size and the Transmission of Monetary Policy: Revisiting the Lending Channel,” with Hassan Naqvi (Monash University), 2023, the Journal of Banking and Finance 146, 106688.
- “Machine Invasion: Automation in Information Processing and the Cross Section of Stock Returns,” with Yanbo Wang (SKK GSB), 2023, the Journal of Financial Markets 64, 100788.
- “Idiosyncratic Returns and Relative Value in the US Treasury Market,” with Youngju Nielsen (SKK GSB), 2017, the Journal of Empirical Finance 44, p. 125-144.
- “The Effects of Firm Growth and Model Specification Choices on Tests of Earnings Management,”with Dan Collins (University of Iowa) and Anand M. Vijh (University of Iowa), 2017,1 the Accounting Review 92(2), p. 69-100.
- “Bank Skin in the Game and Loan Contract Design: Evidence from Covenant-Lite Loans,” with Matt Billett (Indiana University), Redouane Elkamhi (University of Toronto) and Latchezar Popov (Texas Tech University), 2016, the Journal of Financial and Quantitative Analysis 51(3), p. 839-873.
- “Reputation and Loan Contract Terms: the Role of Principal Customers,” with Ling Cen (University of Toronto), Sudipto Dasgupta (HKUST), and Redouane Elkamhi (University of Toronto), 2016, Review of Finance 20(2), p. 501-533.
- “What do Credit Markets tell us about the Tradeoff Theory and Speed of Adjustment?,” with Redouane Elkamhi (University of Toronto) and Anand M. Vijh (University of Iowa), 2014, Management Science 60(9), p. 22-69.
Working Papers
- “Methodology Versus Omitted Variable Biases in Event-Based Tests of Earnings Management,” with Dan Collins and Anand Vijh (University of Iowa) (revise and resubmit at the Journal of Business, Finance, and Accounting)
- “From Analysts to Algorithms: Effects of AI Market Intermediaries on Firm Valuation,” with Kim Claes (Cornell University), Heeyon Kim (Cornell University), and YanboWang (SKK GSB)
- “US Uncertainty Spillover and Global Corporate Investments,” with Lin Cai and Fariborz Moshirian (University of New South Wales)
- “Executive Embeddings and Mergers and Acquisitions,” with Yanbo Wang (SKK GSB)