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Indiana University Bloomington

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Nandini Gupta

Contact Information

(812) 855-3416
nagupta [at] indiana [dot] edu (E-mail)
Business School

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Faculty Web Page

  • Associate Professor of Finance
  • Koenig Faculty Fellow


  • Bloomington

Professional Experience

  • Associate Professor of Finance, 2010-
  • Assistant Professor of Finance, Kelley School of Business, 2003-2009

Professional Interests

Corporate Finance, Financial Market Development, Privatization, Political Economy of Finance, Corporate Governance.


Nandini Gupta is an Associate Professor of Finance at Indiana University's Kelley School of Business. She obtained her PhD in economics from the University of Pittsburgh. Her research is in the areas of corporate and international finance with a focus on reforms that facilitate the development of financial markets. She has looked at the design of these reforms, the political economy of the decision to adopt them, and their impact on financial market development and economic growth. In her work she considers the effect of the partial privatization of government-owned firms on the financial performance of firms, the political economy of the government's privatization decision, the effect of stock market liberalization on growth, and the political economy of the elimination of restrictions on foreign direct investment. Nandini Gupta's work has been published in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Rand Journal of Economics, the European Economic Review, and by Columbia University Press.

Selected Publications

  • Gupta, Nandini (2013), “Selling the Family Silver to Pay the Grocer’s Bill? The Case of Privatization in India,” forthcoming in Jagdish Bhagwati and Arvind Panagariya (eds.), Reforms and Economic Transformation in India, Oxford University Press: New York, NY. Read Abstract ››

  • Gupta, Nandini, and I. Serdar Dinc (2011), “The Decision to Privatize: Finance, Politics, and Patronage,” Journal of Finance, 66(1), pages 241-269. Read Abstract ››

  • Gupta, Nandini and Kathy Yuan (2009), "On the Growth Effect of Stock Market Liberalizations," Review of Financial Studies, Vol. 22, No. 11, pp. 4715-4752. Read Abstract ››

  • Gupta, Nandini (2008), "Privatization in South Asia," in Gerard Roland (ed.), Privatization: Successes and Failures, New York: Columbia University Press, pp. 170-198.
  • Gupta, Nandini, John C. Ham, and Jan Svejnar (2008), "Priorities and Sequencing in Privatization: Theory and Evidence from the Czech Republic," The European Economic Review, Vol. 52, Issue 2, pp. 183-208. Read Abstract ››

  • Chari, Anusha and Nandini Gupta (2008), "Incumbents and Protectionism: The Political Economy of Foreign Entry Liberalization," Journal of Financial Economics, Vol. 88, No. 3, June, pp. 633-656. Read Abstract ››

  • Gupta, Nandini, Archishman Chakraborty, and Rick Harbaugh (2006), "Best Foot Forward or Best for Last in a Sequential Auction?," RAND Journal of Economics, Vol. 37, No. 1, Spring, pp. 176-194. Read Abstract ››

  • Gupta, Nandini (2005), "Partial Privatization and Firm Performance," The Journal of Finance, Vol. LX, No. 2, April, pp. 987-1015. Read Abstract ››