Ranjini Jha

Office: Hagey Hall 383H

Phone: 519-888-4567 x45703

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

Bandyopadhyay, S., R. Jha, and K. Sen, Consequences of auditor reputation loss: Market reaction, audit fees, auditor change and audit quality in the case of Satyam Ltd. and PriceWaterhouseCoopers India.
Douglas, A. V. S., and R. Jha, Capital structure and the principal-agent model of the firm: Theory and evidence.
Jha R., D. Kennedy, and K. Vetzal, Stabilization activities by underwriters in the IPO aftermarket and the firm’s long-run risk and return.
Carnaghan, C., and R Jha, The effects of Regulation Fair Disclosure on management forecasts.
Klassen, K. and R. Sivakumar, Stock repurchases associated with stock options do represent dollars out of shareholders' wallets.

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)