Pradiptarathi Panda
@iimraipur.ac.in
Assistant Professor
Indian Institute of Management (IIM), Raipur
Dr. Pradiptarathi Panda is an Assistant Professor at the Indian Institute of Management (IIM) Raipur. Prior to his tenure at IIM Raipur, he spent nine years at the National Institute of Securities Markets (NISM) engaged in teaching and research in financial markets. Starting as a Research Associate, he progressed to the position of Assistant Professor at NISM. Dr. Panda's research interests encompass Market Microstructure, Mutual Funds, International Capital Markets, Derivatives, and Innovative Financial Instruments. His teaching portfolio includes Financial Institutions and Markets (FIM), Market Microstructure-Trading and Investment in Equity and Equity Derivatives, Corporate Finance, Applied Financial Econometrics, Financial Computing using R and Python, Financial Derivatives, and Investment Management.
EDUCATION
PhD Financial markets
M.Phil. Financial Markets
Master of Finance and Control
RESEARCH, TEACHING, or OTHER INTERESTS
Finance, Economics, Econometrics and Finance
Scopus Publications
Scholar Citations
Scholar h-index
Scholar i10-index
Scopus Publications
V. Veeravel, Pradiptarathi Panda, and A. Balakrishnan
Emerald
PurposeThe present study aims to verify whether there is a positive (negative) role being played by the institutional investors on the loss-making companies' performance.Design/methodology/approachThe authors employ panel data regression and two-step system generalised method of moments (SYS-GMM) to test the above objective.FindingsThe empirical results clearly show that no positive relation is found between institutional investors and loss-making companies' performance.Research limitations/implicationsThe findings of the study might have significant implications for firms to improve the firms' operational performance [return on assets (ROA)]. Also, the firm's financial performance [return on equity (ROE)] could be improved by increasing profitability which will reflect in the share prices of the firms whereby the performance can build the investors' confidence over the firm. Market performance (Tobin's Q) could be increased by providing more attractive offers and discounts to customers to capture the business opportunities available in the market.Practical implicationsThe overall findings might have for reaching implications in the manufacturing sector with regard to allowing (disallowing) institutional investors.Social implicationsThe results of the study may help both companies and institutional investors.Originality/valueThis is the maiden attempt to study whether loss-making companies could be positively (negatively) impacted by the arrival of sophisticated institutional investors [foreign institutional investors (FIIs) and domestic institutional investors (DIIs)]. Further, this study is largely different from previous studies in terms of using new variables which are related to firm characteristics and valuation multiples. Further, seeing if the institutional investors tend to enhance the firm performance is curious.
Rishita Kabi, Pradiptarathi Panda, and Latha Chari
SAGE Publications
This study applies vector autoregression to capture the relationships among inflation, cotton spot and futures price. Further, the autoregressive distributed lag model has been applied to capture the impact of rainfall on the cotton spot and futures price. The result of this study reveals that cotton spot price positively impacts cotton futures, while rainfall negatively impacts the price of cotton futures. There is no impact of inflation on cotton spot and futures markets. Due to the sensitivity of crops to rainfall, the monsoon plays a vital role in price discovery in the agricultural market. Similarly, inflation is another significant issue linked to agricultural prices. Further, any movement in futures prices driven by the speculative activity of traders in the commodity derivatives does not contribute to changes in the spot prices.
Pradiptarathi Panda, Wasim Ahmad, and M. Thiripalraju
SAGE Publications
This study uses the MGARCH-BEKK model and Diebold–Yilmaz (DY) volatility spillover index to examine volatility spillovers among BRICS countries’ stock markets. The study finds that the own volatility spillover is more than the cross-markets and has increased during the financial crisis. In contrast, the cross-markets volatility spillovers have decreased after the financial crisis. The total net return spillover increased during the crisis period (27.30%) and the pre-crisis period (25.50%) in comparison with the post-crisis period (6.30%) and the whole sample period (10.70%). Brazil is the highest net volatility transmitter among the BRICS countries’ stock markets, and China is the highest net volatility receiver. We learned from the volatility network connectedness that China is highly connected with India regarding volatility. Foreign institutional investors may use this study’s result to find diversification opportunities across the BRICS stock markets. JEL Codes: F3, G11, G12, G15
Pradiptarathi Panda
Springer Science and Business Media LLC
Babita Panda, Ajaya Kumar Panda, and Pradiptarathi Panda
Springer Science and Business Media LLC
Naliniprava Tripathy and Pradiptarathi Panda
World Scientific Pub Co Pte Ltd
This study examines the nonlinear dependence and tail dependence of BRICS countries’ stock markets and the contagion effect among Brazil, Russia, India, China, and South Africa (BRICS) countries’ daily stock markets using the COPULA model from January 2000 to February 2019. The study employs the DCC-MGARCH model and Diebold and Yilmaz volatility spillover model to assess the interdependence dynamics across BRICS countries’ stock markets. The copula results suggest that the BRICS country’s stock markets are independent of each other. The conditional correlation between BRICS is negative and statistically significant, suggesting that the negative relationship among BRICS is an important signal for international investors to diversify among these countries and get the economic value of their investment. Further, Brazil, China, and South Africa are the net volatility transmitter, at the same time India and Russia are the net volatility receiver during the study period. The study proposes that policymaker of BRICS needs to interchange views and mutually map policies to appeal to global investment more.
Simarjeet Singh, Nidhi Walia, Pradiptarathi Panda, and Sanjay Gupta
SAGE Publications
Relative momentum strategies yield large and substantial profits in the Indian Stock Market. Nevertheless, relative momentum profits are negatively skewed and prone to occasional severe losses. By taking into consideration 450 stocks listed on the Bombay Stock Exchange, the present study predicts the timing of these huge momentum losses and proposes a simple risk-managed momentum approach to avoid these losses. The proposed risk-managed momentum approach not only doubles the adjusted Sharpe ratio but also results in significant improvements in downside risks. In contrast to relative momentum payoffs, risk-managed momentum payoffs remain substantial even in extended time frames. The study’s findings are particularly relevant for asset management companies, fund houses and financial academicians working in the area of asset anomalies.
Debadatta Das Mohapatra and Pradiptarathi Panda
Informa UK Limited
Abstract The present study endeavours to perform a systematic review of the literature related to the impact of corporate governance on dividend policy in the last two decades. This study uses the systematic literature review process . 143 articles were identified initially and subsequently further narrowed down to 66 most relevant articles for the scope of this study. This paper critically examines the influential studies in the literature related to the impact of corporate governance on dividend policy. The literature review related to corporate governance is analysed from two broad perspectives i.e. (a)Impact of Shareholder protection on dividend pay-out and (b) Impact of Controlling stakeholders on dividend pay-out. Our findings are as follows. Firstly, a vast majority of studies have found a positive relationship between better corporate governance practice and higher dividend pay-out. Secondly, the study finds that the majority of the research has been done in the USA and Europe while limited studies have focussed on emerging markets. Finally, our reviews show that there is a dearth of studies that evaluate the impact of the structural changes in corporate governance in various emerging markets. This study contributes to the extant literature in several ways. It highlights the research gaps in this field and provides a potential agenda for academicians and research organizations for future research.
Ajaya Kumar Panda, Pradiptarathi Panda, Swagatika Nanda, and Atul Parad
Elsevier BV
Pradiptarathi Panda, Shobana Vasudevan, and Babita Panda
Wiley
Justinas Lubys and Pradiptarathi Panda
Springer Science and Business Media LLC
Pradiptarathi Panda
Springer Science and Business Media LLC
Ajaya Kumar Panda, Swagatika Nanda, and Pradiptarathi Panda
SAGE Publications
The present study investigates the relationship between working capital management and SME profitability. It also analyzes the impact of macroeconomic impulses on firm profitability through efficient management of working capital in the case of Indian small and medium scale enterprises over the time period spanning from 2010 to 2017 using Feasible Generalized Least Square (FGLS) regression models. The study concludes the negative relationship of account receivables together with a positive relationship of inventories and account payables with SME profitability. It implies the firm managers can maximize SME’s profitability by converting the credit sales to cash as early as possible, by increasing the days of accounts payable and following a conservative inventory management strategy. Changes in economic growth and commercial bank advances to small scale industries are the key macroeconomic determinants that are impacting SME profitability. The results from this paper may guide the firm managers to shape their working capital management strategies to maximize profitability. Policymakers may find the study interesting to identify the macroeconomic parameters that significantly influence Indian SMEs.
Saswat Patra and Pradiptarathi Panda
Wiley
Mehree Iqbal, Nabila Nisha, Afrin Rifat, and Pradiptarathi Panda
IGI Global
This article describes how in response to the global initiative to save the environment, many emerging economies today promote environmental-friendly practices by implementing various forms of green banking services. Beyond its usefulness for the environment, green banking also benefits the clients by offering new channels of financial services delivery. As such, there may be various factors which can shape the behavioral intentions of clients for adopting green banking, including their environmental concerns, perceived financial cost and timeliness factor attached to these services. Using UTAUT model and Structural Equation Modeling (SEM), this paper thus proposes a model to identify such adoption factors in the context of an emerging economy. The article finds that timeliness, facilitating conditions, environmental concerns, effort expectancy and performance expectancy, plays an important role in capturing clients' overall perceptions of green banking. Results therefore indicate clients may be fairly pragmatic in developing general attitudes towards the use of green banking.
A. Balakrishnan, Moinak Maiti, and Pradiptarathi Panda
SAGE Publications
In this article, we examine whether stock returns are related with important firm characteristics and fundamentals such as size, value, profitability and investment. We also evaluate whether the existing asset pricing models of Fama–French three-factor (FFTF) model and Fama–French five-factor model can capture the average returns on portfolios constructed based on the above characteristics and fundamentals. We find from the results that average return pattern clearly shows that Indian stock market is strongly influenced by the factors mentioned above. Asset pricing results also shed light that FFTF model clings on to its efficiency at capturing the average returns on portfolios, while Fama–French five-factor model does a plausible job.
Pradiptarathi Panda and M. Thiripalraju
Inderscience Publishers