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Oklahoma State University

RAMESH RAO

RAMESH RAO

Department of Finance
Paul C. Wise Chair of Finance

254 BUSINESS
STILLWATER, OK 74078
Phone: 405-744-1385

ramesh.rao@okstate.edu

Education

  • Ph D, Texas Tech University, Finance, 1985
  • MBA, Asian Institute of Management, 1978
  • BS, University of the Philippines, General, 1976

Publications

  • Ramesh Rao, R. Charles Moyer, and James McGuigan. (2018). "Contemporary Financial Management". Cengage. 14,
  • Lauren A Cooper, James Downes, and Ramesh Rao. (2018). "Short-Term Earnings Management Prior to Stock Repurchases". Review of Quantitative Finance and Accounting. (50), 1, 95-128.
  • J. Adams, T. Nishikawa, and Ramesh Rao. (2018). "Mutual Fund Performance, Management Teams, and Boards". Journal of Banking and Finance.
  • Harry Feng and Ramesh P Rao. (2018). "Cash holdings and CEO risk incentive compensation: Effect of CEO risk aversion.". International Review of Financial Analysis. (60), pp. 162-176.
  • Frank J Fabozzi, Asjeet S Lamba, Takeshi Nishikawa, Ramesh P Rao, and Kwan Chen Ma. "Does the Corporate Bond Market Overvalue Bonds of Sin Companies?". Finance Research Letters (Forthcoming).
  • Svetlana Orlova and Ramesh Rao. "Cash Holdings Speed of Adjustment". International Review of Economics and Finance (Forthcoming).
  • Ramesh Rao, Svetlana Orlova, and Tony Kang. (2017). "National Culture and the Valuation of Cash Holdings". Journal of Business, Finance, and Accounting. (44), 1-2, 236-270.
  • Hongrui (Harry) Feng, Subramanian Iyer, and Ramesh Rao. (2017). "Payout Flexibility and Capital Expenditure". Review of Quantitative Finance and Accounting. (49), 3, 633-659.
  • S.R. Iyer and Ramesh Rao. (2017). "Share Repurchases and the Flexibility Hypothesis". Journal of Financial Research. (XL), 3, 287-313.
  • Ramesh Rao, R. Charles Moyer, and James McGuigan. (2015). "Contemporary Financial Management". Cengage. 13,
  • Ramesh Rao, Mufaddal Baxamusa, and Sunil Mohanty. (2015). "Information Asymmetry about Investment Risk and Financing Choice". Journal of Business, Finance, and Accounting. (42), 7-8, 947-964.
  • Ramesh Rao and Mohammed Alzahrani. (2014). "Managerial behavior and the link between stock mispricing and corporate investments: Evidence from market-to-book ratio decomposition". Financial Review. (49), 1,
  • Kris Kemper and Ramesh Rao. (2013). "CreditWatch and Capital Structure". Applied Economics Letters. (20), 13, 1202-1205.
  • Kris Kemper and Ramesh Rao. (2013). "Do credit ratings really affect capital structure?". Financial Review. (48), 4,
  • Ali Nejadmalayeri, Ramesh Rao, and Takeshi Nishikawa. (2013). "Sarbanes-Oxley Act and Corporate Credit Spreads". Journal of Banking and Finance. (37), 8, 2291-3006.
  • A.K. Prevost, E. Devos, and Ramesh Rao. (2013). "The Effects of Relative Changes in CEO Equity Incentives on the Cost of Corporate Debt". Journal of Business, Finance, and Accounting. 470-500.
  • R.C. Moyer, J.R. McGuigan, Ramesh Rao, and W. Kretlow. (2012). "Contemporary Financial Management". Belmont CA: Thomson Learning-SouthWestern College Publishing. 12,
  • Li-Li Eng, Ramesh Rao, and S. Saudagaran. (2012). "Earnings Informativeness after Financial Statement Restatements". International Journal of Revenue Management . (6), 3/4, 221-245.
  • A.K. Prevost, Ramesh Rao, and M.A. Williams. (2012). "Labor Unions as Shareholder Activists: Champions or Detractors?". Financial Review . (47.2), 327-349.
  • T. Nishikawa, A.K. Prevost, and Ramesh Rao. (2011). "Bond Market Reaction to Stock Repurchases: Is There a Wealth Transfer Effect?". Journal of Financial Research. (34), 503-522.
  • Vinod Venkiteshwaran, Subramanian Iyer, and Ramesh Rao. (2010). "Shareholder Activism a la Carl Icahn: A Clinical Study". Journal of Applied Corporate Finance. (12), 4, 45-57.
  • J. Whitworth and Ramesh Rao. (2010). "Do Tax Law Changes Influence Ex-Dividend Stock Price Behavior? Evidence from 1926-2005". Financial Management. 419-445.
  • Ramesh Rao, P. Kitsabunnarat-Chatjuthamard, P. Lung, and T. Nishikawa. (2010). "Leverage Reducing Exchange Offers and Bondholder-Stockholder Wealth Transfers: A Re-Evaluation". International Review of Economics and Finance. (19), 81-94.
  • W.B. Elliott, A.K. Prevost, and Ramesh Rao. (2009). "The Announcement Impact of Seasoned Equity Offerings on Bondholder Wealth". Journal of Banking and Finance. (33), 1472-1480.
  • M.A. Williams, T.B. Michael, and Ramesh Rao. (2008). "Bank Mergers, Equity Risk Incentives and CEO Stock Options". Managerial Finance. (34), 5, 316-327.
  • B. Jirasakuldech, R. Emekter, and Ramesh Rao. (2008). "Do Thai Stock Prices Deviate from Fundamental Value?". Pacific Basin Finance Journal. (16), 3, 298-315.
  • C.J. Skousen, Gary Meek, and Ramesh Rao. (2007). "Evidence on Factors Affecting the Relationship between CEO Stock Option Compensation and Earnings Management". Review of Accounting and Finance. (6), 3, 304-323.
  • R.C. Moyer, Ramesh Rao, and J.R. McGuigan. (2006). "Contemporary Financial Management Fundamentals". Belmont CA: Thomson Learning-SouthWestern College Publishing. 2,
  • M. Williams and Ramesh Rao. (2006). "CEO Stock Options and Equity Risk Incentives". Journal of Business, Finance, and Accounting. 26-44.
  • C.T. Bathala, C.K. Ma, and Ramesh Rao. (2005). "What Stocks do Institutional Investors Find Appealing: Evidence from the 1990s". Journal of Investing. (14), 1, 14-23.
  • R.C. Moyer, Ramesh Rao, and J.R. McGuigan. (2004). "Contemporary Financial Management Fundamentals". Thomson Learning-SouthWestern College Publishing. 1,
  • T.J. Jalbert, Ramesh Rao, C.T. Bathala, and A. Reichert. (2003). "Insider Trading Around Bank Failures". Journal of Commercial Banking and Finance. (2), 65-80.
  • W.P. Maxwell and Ramesh Rao. (2003). "Do Spin-offs Expropriate Wealth from Bondholders?". Journal of Finance. (58), 5, 2087-2109.
  • M. Mougoue and Ramesh Rao. (2003). "The Information Signaling Hypothesis of Dividends: Evidence From Cointegration and Causality Tests". Journal of Business, Finance, and Accounting. (30), 3-4, 441-478.
  • A.K. Prevost, Ramesh Rao, and J.D. Wagster. (2002). "Dividend Imputation and Shareholder Wealth: The Case of New Zealand". Journal of Business, Finance, and Accounting. (29), 7/8, 1079-1104.
  • A.K. Prevost, Ramesh Rao, and M. Hossain. (2002). "The Determinants of Board Composition in New Zealand: A Simultaneous Equations Approach". Journal of Empirical Finance. (9), 4, 373-397.
  • A.K. Prevost, Ramesh Rao, and M. Hossain. (2002). "Board Composition in New Zealand: An Agency Perspective". Journal of Business, Finance, and Accounting. (29), 5/6, 731-760.
  • T. Jalbert, Ramesh Rao, and M. Jalbert. (2002). "Does School Matter? An Empirical Analysis of CEO Education, Compensation, and Firm Performance". International Business and Economics Journal. 83-98.

Editorial and Review Activities

  • Corporate Governance-An International Review
    Ad Hoc Reviewer
  • Financial Management
    Ad Hoc Reviewer
  • International Review of Financial Analysis
    Ad Hoc Reviewer
  • Journal of Business Research
    Ad Hoc Reviewer
  • Journal of Economics and Finance
    Ad Hoc Reviewer
  • Journal of Financial and Quantitative Analysis
    Ad Hoc Reviewer
  • Journal of Financial and Strategic Decisions
    Ad Hoc Reviewer
  • Journal of Financial Research
    Ad Hoc Reviewer
  • Journal of Futures Markets
    Ad Hoc Reviewer
  • Journal of International Business Studies
    Ad Hoc Reviewer
  • Journal of Midwest Finance Association
    Ad Hoc Reviewer
  • Pacific-Basin Finance Journal
    Ad Hoc Reviewer
  • Quarterly Journal of Business and Economics
    Ad Hoc Reviewer
  • Quarterly Review of Economics and Finance
    Ad Hoc Reviewer
  • Review of Financial Economics
    Editorial Board Member
    2016
  • Financial Review
    Editorial Board Member
    2015
  • Indore Management Journal - Published by Indian Institute of Management-Indore
    Editorial Board Member
    July 2014
  • Journal of Financial Research
    Editorial Board Member
    2013
  • Banking and Finance Review
    Editorial Board Member
    November 2011
  • Applied Economic Letters
    Invited Manuscript Reviewer
    2018
  • Financial Review
    Invited Manuscript Reviewer
    2018
  • International Review of Financial Analysis
    Invited Manuscript Reviewer
    2018
  • Journal of Corporate Finance
    Invited Manuscript Reviewer
    2018
  • Journal of Financial Research
    Editorial Board Member
    2018
  • Journal of Management and Governance
    Invited Manuscript Reviewer
    2018
  • PhD Thesis in Finance, Multimedia University, Malaysia
    Invited Manuscript Reviewer
    2018
  • PhD Thesis in Finance, Multimedia University, Malaysia
    Invited Manuscript Reviewer
    2018
  • Review of Financial Economics
    Invited Manuscript Reviewer
    2018
  • Board of Associate Editors, “Journal of Financial Research.”
    2015
  • Financial Review
    Editorial Board Member
    2015
  • International Review of Economics and Finance
    Ad Hoc Reviewer
    2013
  • Journal of Financial Reseach
    Associate Editor
    2013
  • Journal of Financial Research
    Editorial Board Member
    2013
  • Journal of Financial Research (1)
    Ad Hoc Reviewer
    2013
  • Journal of Management and Governance (2)
    Ad Hoc Reviewer
    2013
  • Journal of Applied Finance
    Associate Editor
    2007 - 2013
  • Journal of Applied Finance
    Editor or Co-Editor
    July 2007 - July 2013

Awards and Honors

  • Richard W. Poole Research Exccellent Award (2017)
  • Richard W. Poole Research Exccellent Award (2016)
  • McGraw-Hill Education Distinguished Paper Award (2015)
  • Engaged Management Scholarship (EMS) 2014 (Tulsa) Best Paper Award (2014)
  • Richard W. Poole Research Exccellent Award (2013)
  • Richard W. Poole Research Excellence Award (2012)
  • Best Paper in Corporate Finance Award (2009)
  • Richard W. Poole Research Excellence Award (2009)
  • Chandler-Frates & Reitz Teaching Excellence Award (2008)
  • Richard W. Poole Research Excellence Award (2008)
  • Regents Distinguished Research Award (2007)
  • Outstanding Educator Award (2007)
  • Merrick Foundation Teaching Award (2003)
  • MBA Outstanding Faculty Award (2003)
  • Dean's Excellence Research Award (2002)
  • Paul C. Wise Chair of Finance (2001)

Academic, Military, and Professional Positions

  • Oklahoma State University, Paul C. Wise Chair of Finance, September 2001
  • Department of Finance, Oklahoma State University, Professor, 2001
  • Area of Finance, Texas Tech University, Professor, 1996 - 2001
  • Massey University, New Zealand, Visiting Fellow, July 1998 - November 1998
  • Area of Finance, Texas Tech University, Associate Professor, 1994 - 1996
  • Department of Finance and Business Economics, Wayne State University, Associate Professor, 1992 - 1994
  • Area of Finance, Texas Tech University, Associate Professor, 1991 - 1992
  • Area of Finance, Texas Tech University, Assistant Professor, 1989 - 1991
  • Area of Finance, Texas Tech University, Visiting Assistant Professor, 1987 - 1989
  • Department of Finance, University of Toledo, Assistant Professor, 1984 - 1987
  • Area of Finance, Texas Tech University, Part-Time Instructor/Research Assistant, 1980 - 1984