Utpal Bhattacharya

Utpal Bhattacharya Print-Quality Photo

Contact Information

(812) 855-3413

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1309 E. 10th Street
Room HH 6100

  • Associate Professor of Finance


  • Bloomington


  • PhD, Columbia University, 1990
  • MBA, Indian Institute of Management, Ahmedabad, 1982
  • Bachelor of Technology, Indian Institute of Technology, Kanpur, 1980

Professional Experience

  • Associate Professor (tenured), Finance Department, Kelley School of Business, Indiana University, 2000-present
  • Visiting Associate Professor, Financial Management Area, The University of Chicago - Booth School of Business (2010-11)
  • Visiting Associate Professor, Finance Department, Massachusetts Institute of Technology (MIT) - Sloan School of Management (Summer 2009, 2008, 2003-04)
  • Associate Professor (untenured), Finance Department, Kelley School of Business, Indiana University, 1997-2000
  • Assistant Professor, Finance Department, College of Business Administration, University of Iowa (1990-93, 1994-97)
  • Visiting Assistant Professor, Finance Department, Fuqua School of Business, Duke University (1993-94)

Awards, Honors & Certifications

  • Associate Editor, Review of Financial Studies (2005-08), Journal of Financial Markets (2001-present)
  • Research featured more than 150 times in prominent media around the world, including three times in The Economist
  • Invited to present research in more than 140 institutions in 24 countries in 5 continents
  • Business Week "Prominent Faculty" in the Kelley School of Business, Indiana University, 2006
  • Nominated for the Trustee Teaching Award (Kelley School of Business, Indiana University) five years in a row. Won in 2004 and 2008.
  • Teaches in a different country every summer. He has taught at top universities in Argentina, Brazil, China, France, Germany, Holland, Italy, Japan, Mexico, New Zealand, Portugal, Singapore, Slovenia, South Korea, Russia, Singapore, Taiwan, Turkey and the USA (Chicago, Duke and MIT)
  • Was a member of and wrote a report in 2006 for The Task Force to Modernize Securities Regulation in Canada. Report was featured on Canadian TV in November 3, 2008. Report was discussed by legislators in Ontario, Canada, on December 2, 2008

Professional Interests

Dark Side of Financial Markets

Personal Interests

Travelling, Teaching in Exotic Lands

Selected Publications

  • Bhattacharya, Utpal, Alexander Borisov, and Xiaoyun Yu (2015), “Firm Mortality and Natal Financial Care,” Journal of Financial and Quantitative Analysis, forthcoming. Read Abstract
  • Bhattacharya, Utpal, Jung Hoon Lee and Veronika Krepely Pool (2013) “Conflicting Family Values in Mutual Fund Families,” Journal of Finance 68, February, 173-200.
  • Bhattacharya, Utpal, Craig Holden and Stacey Jacobsen (2012), “Penny Wise, Dollar Foolish: Buy-Sell Imbalances On and Around Round Numbers,” Management Science (Special Issue On Behavioral Economics and Finance), Vol 58, pp 413-431.
  • Bhattacharya, Utpal, Andreas Hackethal, Simon Kaesler, Benjamin Loos and Steffen Meyer,(2012) “Is Unbiased Financial Advice To Retail Investors Sufficient? Answers from a Large Field Study”  The Review of Financial Studies, Vol 25, pp. 975-1032.
  • Bhattacharya, Utpal, Neal Galpin, Rina Ray, and Xiaoyun Yu (2009), “The Role of the Media in the Internet IPO Bubble,” Journal of Financial and Quantitative Analysis, Vol. 44, No. 3, June, pp. 657-682.
  • Bhattacharya, Utpal and Hazem Daouk (2009), “When No Law is Better Than a Good Law?,” Review of Finance, Vol. 13, pp. 577-627.
  • Bhattacharya, Utpal, Neal Galpin, and Bruce Haslem (2007), “The Home Court Advantage in International Corporate Litigation,” Journal of Law and Economics, Vol. 50, pp. 625-659.
  • Bhattacharya, Utpal, Hazem Daouk, and Michael Welker (2003), "The World Price of Earnings Opacity," The Accounting Review, Vol. 78, pp. 641-678.

  • Bhattacharya, Utpal and H. Daouk (2002), “The World Price of Insider Trading,” Journal of Finance, Vol. 57, pp. 75-108. Reprinted in Claessens, S. and L. Laeven (eds.) (2006), A Reader in International Finance, Washington, D.C.: World Bank.

Kelley School of Business

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