Kumar Venkataraman is the Chairman of the Finance Department and the Fabacher Endowed Professor of Alternative Asset Management at the Cox School of Business at Southern Methodist University. He has a Ph.D. in Finance from Arizona State University.
Research: Venkataraman specializes in the area of market microstructure and writes about financial market design; evaluation of trading strategies; and functioning of equity, debt and commodity markets. He has presented his research at universities, Wall Street firms, academic conferences and regulatory bodies and published his work in major international financial and accounting journals including the Journal of Finance. His work has been featured in industry publications, such as The CFA Digest, in text books, and in business press, including Wall Street Journal, Barron¹s, Financial Times, Economist and Bloomberg News. He is currently involved with consulting projects sponsored by Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).
Teaching: Dr. Venkataraman teaches courses in the area of investments and has received the Outstanding Teaching Award in the Cox MBA and COX BBA programs on numerous occasions.
Awards & Honors: Venkataraman serves as Associate Editor of Journal of Financial and Quantitative Analysis and Journal of Financial Research and on the Board of Directors of the Texas Hedge Fund Association. He is recipient of the 2010 Boghetich Family Distinguished Teaching Award (the highest teaching award in the Cox School), the 2008 Gerald J. Ford Senior Research Fellowship (highest research award at SMU) and the 2004 Research Excellence Award for the Cox School. His research on the recent financial crisis won the NASDAQ best paper award in the field of market microstructure at the 2010 Financial Management Association conference.
Notably, Kumar was named among ³The Best 40 B-School Profs Under the Age of 40² in the 2011 Poets & Quants ranking of Business School professors.
Personal: Married to Kalyani, and has two daughters, Anushka and Sanjana. Kumar enjoys reading books and playing tennis.
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PUBLICATIONS: Major Journal Articles
Automated versus Floor Trading: An analysis of execution costs on the Paris and New York Exchanges, Journal of Finance, 2001, Vol. 56, No. 4, pg. 1445-1885.
Abstracted in The CFA Digest, Vol. 32, No. 1 (Feb 2002), pg. 65-66.
The Impact of Regulation Fair Disclosure: Trading Costs and Information Asymmetry, Journal of Financial and Quantitative Analysis, 2004, Vol. 39, No. 2, pg. 209-225. (Lead Article) (with Venkat Eleswarapu and Rex Thompson)
Abstracted in The CFA Digest, Vol. 34, No. 4 (Nov 2004), pg. 9-10.
Does an Electronic Stock Exchange need an Upstairs Market?, Journal of Financial Economics, 2004, Vol. 73, pg. 3-36. (Lead Article) (with Hank Bessembinder).
Do Short Sellers target firms with poor Earnings Quality? Evidence from Earnings Restatements, Review of Accounting Studies, 2006, Vol. 11, pg. 71-90. (with Hemang Desai and Srini Krishnamurthy).
The Impact of Legal and Political Institutions on Equity Trading Costs: A Cross-Country Analysis, Review of Financial Studies, 2006, Vol.19, No.3, pg. 1081-1111. (with Venkat Eleswarapu).
Market Transparency, Liquidity Externalities and Institutional Trading Costs in Corporate Bonds, Journal of Financial Economics, 2006, Vol. 82, 251-288. (Lead Article) (with Hank Bessembinder and Bill Maxwell).
· Featured in the Wall Street Journal, FinancialTimes, Dow Jones News Wire; Bloomberg News; The Economist.
· Cited by regulators in U.S. and Europe.
The Value of the Designated Market Maker, Journal of Financial and Quantitative Analysis, 2007, Vol. 42, No.3, pp. 735-758. (with Andy Waisburd).
Hidden Liquidity: An Analysis of Order Exposure Strategies in Electronic Stock Markets. Journal of Financial Economics, 2009, Volume 94, 361-383.(with Hank Bessembinder and Marios Panayides).
Earnings Quality and Information Asymmetry, Contemporary Accounting Review, 2011, conditionally accepted, (with Neil Bhattacharya and Hemang Desai).
Performance of Institutional Trading Desks: An Analysis of Persistence in Trading Cost, Review of Financial Studies, 2011. Forthcoming. (with Amber Anand, Paul Irvine and Andy Puckett).
BOOK CHAPTERS / NON-REFEREED PUBLICATIONS
Bid-Ask Spreads: Measuring Trade Execution Costs in Financial Markets, in Encyclopedia of Quantitative Finance, edited by Rama Cont, John Wiley & Sons, forthcoming, 2010. (with Hank Bessembinder)
Evidence-based Regulatory Policy Making for Financial Markets: A Panel Discussion of a Proposed Framework for AssessingMarket Quality. A Guide to Global Liquidity, Volume 3, 24-44, 2011. (with Frederick Harris, Michael Aitken, Alfred Berkeley and James Overdahl)