Ranjini Jha

Office: Hagey Hall 383H

Phone: 519-888-4567 x45703

Email: rjha@uwaterloo.ca

Education and certifications

• MSc Physics (Indian Institute of Technology, Kharagpur, India)
• MBA (Temple University, Philadelphia)
• PhD Finance (University of Alberta)
• Chartered Financial Analyst (CFA)

Brief biography

Research interests: Corporate finance, asset pricing, financial econometrics.

My name was changed from Sivakumar to Jha in September 2006.

Selected publications

Refereed publications:

• Bandyopadhyay, S., R. Jha, and D. Kennedy, 2017, The Effect of the US Sub-prime Crisis on Canadian Banks, Advances in Accounting 36, 58 -74.
• Brown, K. R. Jha, and P. Pacharn, 2015, Ex ante CEO severance pay and risk-taking in the financial services sector, Journal of Banking and Finance 59, 111-126. 
• Kobelsky, K., J. H. Lim, and R. Jha, 2013, The impact of performance-based CEO and CFO compensation on internal control quality, Journal of Applied Business Research 29, 913-933.
• Chen, C., A. Huang, and R. Jha, 2012, Idiosyncratic return volatility and the information quality underlying managerial discretion, Journal of Financial and Quantitative Analysis 47, 873-899.
• Boyle, P. P.,  R. Jha, J. S. Kennedy, and W. Tian, 2011, Optimal stock and option proportions in executive compensation, Quarterly Journal of Finance 1, 169-203.
• Bandyopadhyay, S., C. Chen, A. Huang, and R. Jha, 2010, Accounting conservatism and the temporal trends in current earnings’ ability to predict future cash flows versus future earnings: Evidence on the tradeoff between relevance and reliability, Contemporary Accounting Research 27, 413-460.
• Jha R., and M. Kalimipalli, 2010, The economic significance of conditional skewness forecasts in index option markets, Journal of Futures Markets 30, 378-406.
• Jha R., B. Korkie, and H. J. Turtle, 2009, Measuring performance in a dynamic world: Conditional mean-variance fundamentals? Journal of Banking and Finance 33,1851-1859.
• Chan, W., R. Jha, and M. Kalimipalli, 2009, The economic value of using realized volatility in forecasting future implied volatility, Journal of Financial Research 32, 231-259.
• Kennedy, D., R. Sivakumar and K. Vetzal, 2006, The implications of IPO underpricing for the firm and insiders, Journal of Empirical Finance 13, 49-78.
• Abraham, B, N. Balakrishna and R. Sivakumar, 2006, Gamma stochastic volatility models, Journal of Forecasting 25, 153-171.
• Korkie, B., R. Sivakumar and H.J. Turtle, 2006, Skewness persistence from variance spillover in financial asset returns, Financial Review 41, 139-156.
• Krishnan, V., and R. Sivakumar, 2004, Impact of top management power on corporate divestiture, Corporate Governance: International Journal of Business in Society 4, 24-30.
• Racine, M. and R. Sivakumar, 2004, The effect of option introduction on the skewness and co-skewness of stock returns, Finance Letters 2, 10-13.
• Korkie, B., R. Sivakumar and H.J. Turtle, 2002, The dual contributions of information instruments in return models: Magnitude and direction predictability, Journal of Empirical Finance 9, 511-523.
• Chen, P., V. Mehrotra, R. Sivakumar and W. Yu, 2001, Layoffs, shareholder wealth, and corporate performance, Journal of Empirical Finance 8, 171-200.
• Daley, L., V. Mehrotra and R. Sivakumar, 1997, Corporate focus and value creation: Evidence from spinoffs', Journal of Financial Economics 45, 257-281. This paper has been published in the two-volume collection ”Corporate Restructuring” edited by John. J. McConnell and David J. Denis as part of the series, The international library of critical writings in financial economics – Series editor: Richard Roll.

Invited publications:

• L. Bauer, S. Beveridge, and R. Jha, 2008, The influence of taxes, tick size and market microstructure on ex-dividend day prices, Great Lakes Herald 2, 55-78. 

Working papers

Awards

• 2023 Faculty of Arts Award for Excellence in Service
• Outstanding Performance Award, University of Waterloo, 2013, 2010, 2006
• Best Paper Award (Derivatives Category) Northern Finance Association meetings, 2004, The economic value of trading with realized volatility in the S&P 500 index options market, co-authored with Wing Chan and Madhu Kalimipalli
• Best Paper Award (Derivatives Category), Midwest Finance Association Meetings, 2003, Does skewness matter? Evidence from the index options market, co-authored with Madhu Kalimipalli
• David C. Higginbotham PricewaterhouseCoopers Fellowship, School of Accountancy, University of Waterloo, 2001-2004

Funding

• Social Sciences and Humanities Research Council of Canada $69,904  2018-2020
  • principal investigator – K. Chen, co-investigators – R. Jha and M. Kalimipalli
• Global Risk Institute $92,000  2012-2013
  • principal investigator – K. Vetzal, co-investigators - S. Bandyopadhyay, R. Jha, D. Kennedy, and T. Wirjanto
• Social Sciences and Humanities Research Council of Canada $71,500  2009-2012
  • principal investigator – K. Vetzal, co-investigators – R. Jha and D. Leisen
• Social Sciences and Humanities Research Council of Canada  $73,600 2009-2012
  • principal investigator – K. Brown, co-investigators – R. Jha and P. Pacharn

• Social Sciences and Humanities Research Council of Canada  International Opportunities Fund $66,000  2008-2009
  • principal investigator – R. Jha, co-investigators – S. Bandyopadhyay, A G. Huang, and T. Wirjanto

• Toronto-Dominion (TD)-University of Waterloo Computation Finance Research Partnership  $20,000  2007- 2009
  • principal investigator – K. Vetzal, co-investigators - R. Jha and D. Leisen

• Institute of Quantitative Finance and Insurance (IQFI) $10,000 2007-2008
  • principal investigator – K. Vetzal, co-investigators - R. Jha and D. Leisen

• University of Waterloo, Social Sciences and Humanities Research Council 4A award  $5,000  2005

• Social Sciences and Humanities Research Council of Canada  $70,221 2005-2008
  • principal investigator – M. Kalimipalli, co-investigator - R. Sivakumar

• Social Sciences and Humanities Research Council of Canada  $52,500 2000-2003
  • principal investigator - D. Kennedy, co-investigators - R. Sivakumar and K. Vetzal

• Canadian Foundation for Innovation  $34,100 2000-2003
  • project leader - R. Sivakumar, co-investigator - C. Carnaghan

• Ontario Innovation Trust $34,100  2000-2003
  • project leader - R. Sivakumar, co-investigator - C. Carnaghan

• Social Sciences and Humanities Research Council of Canada  $45,750   1999-2002
  • principal investigator – R. Sivakumar, co-investigator - K. Klassen

• University of Waterloo, R.A. Support Program  $6,500 1999-2001

Courses taught

Undergraduate Courses

AFM 121 - Introduction to Global Financial Markets

AFM 271 - Managerial Finance 1 

AFM 323 - Quantitative Foundations for Finance

AFM 371 - Managerial Finance 2 

AFM 471 - Cases in Corporate Finance

AFM 472 - Investments

AFM 476/Actuarial Science (ACTSC) 471 - Advanced Corporate Finance

AFM 478 - International Financial Management

AFM 328/329/428/429 -Investment Management Project Courses (Student Investment Fund)

AFM 418 - Special Topics in Finance (Student Venture Fund)

Student Investment Fund - Faculty Mentor

Student Venture Fund - Faculty Mentor

Graduate Course

ACC 690 - International Financial Management

Professional service

• Associate Director (Finance), School of Accounting and Finance (2010-2017)
• Northern Finance Association, Board of Directors and Treasurer  (September 2013 - September 2017)
• Golden Triangle Angel Network (GTAN), Board of Directors and Treasurer (2021 - present)