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. (2023). "Climate Change and Corporate Cash Holdings: Global Evidence ". Financial Management. (52), 253-295.
• Sharif Mazumder and Ramesh Rao. (2023). "Social Trust and the Choice Between Bank Debt and Public Debt: Evidence from International Data". Journal of Multinational Financial Management.
• Hongrui Feng and Ramesh Rao. (2022). "The Positive Externalities of Leveraged Buyouts". Journal of Banking and Finance. (135),
• Frank Fabozzi, K. C. Chen, K. C. Ma, and Ramesh Rao. (2022). "Those Who Learn From History Are Doomed To Repeat It". Journal of Behavioral Finance. 1-16.
• Mohsen Mollagholamali and Ramesh Rao. (2022). "Country-level Corporate Governance and Lines of Credit". Finance Research Letters. (45),
• Isarin Durongkadej, Siqi Wei, and Ramesh Rao. (2021). "Shareholder litigation and the risk incentive effect of executive compensation: A re-examination". Finance Research Letters. (41),
• Frank J Fabozzi, Asjeet S Lamba, Takeshi Nishikawa, Ramesh Rao, and Kwan Chen Ma. (2019). "Does the Corporate Bond Market Overvalue Bonds of Sin Companies?". Finance Research Letters. (28), 165-170.
• Ramesh Rao, R. Charles Moyer, and James McGuigan. (2018). "Contemporary Financial Management". Cengage. 14,
• Harry Feng and Ramesh Rao. (2018). "Cash holdings and CEO risk incentive compensation: Effect of CEO risk aversion.". International Review of Financial Analysis. (60), pp. 162-176.
• J. Adams, T. Nishikawa, and Ramesh Rao. (2018). "Mutual Fund Performance, Management Teams, and Boards". Journal of Banking and Finance. (92), 358-368.
• Svetlana Orlova and Ramesh Rao. (2018). "Cash Holdings Speed of Adjustment". International Review of Economics and Finance. (54), 1-14.
• 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.
• 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, 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.
• 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.