Dr. Niranjan Tripathy
University of North Texas
Finance, Insurance, Real Estate and Law
(940) 565-3045
Email:

Education

PhD, Texas Tech University, 1987.
Major: Business Administration
Degree Specialization: Finance
Dissertation Title: An Empirical Study of the Effects of Systematic Risk on the Security Dealer's Bid-Ask Spreads in the OTC Market
MBA, University of New Orleans, 1981.
Major: Finance
MA, Ravenshaw College, 1978.
Major: English
BA, SCS College, 1975.
Major: English
Degree Specialization: History

Professional Positions

Academic - Post-Secondary
Professor of Finance, Department of Finance, Insurance, Real Estate and Law, College of Business, University of North Texa. (September 2002 – Present).
Director of Ph.D. Program and Research, College of Business, University of North Texas. (January 2007 – August 2014).
Associate Professor of Finance, Department of Finance, Insurance, Real Estate and Law, College of Business, University of North Texa. (1994 – 2002).
Coordinator, Doctoral Program in Finance, Department of Finance, Insurance, Real Estate and Law, College of Business, University of North Texa. (1993 – 1998).
Assistant Professor of Finance, Department of Finance, Insurance, Real Estate and Law, College of Business, University of North Texa. (1987 – 1994).

Licensures and Certifications

Chartered Financial Analyst (CFA). (1999 – Present).

Professional Memberships

CFA Institute. (1999 – 2009).

CFA Institute - Dallas Chapter. (1999 – 2009).

Southwestern Finance Association. (1988 – 2009).

Financial Management Association. (1987 – 2009).

Development Activities Attended

Conference Attendance, Bloomberg Symposium, Atlanta, Georgia. (2011).

Seminar, Faculty Development in International Business - Executive Education, Columbia, Missouri. (2010).

Teaching

Teaching Experience

University of North Texas
FINA 4500, International Finance, 42 courses.
FINA 4900, Special Problems, 1 course.
FINA 5040, Introduction to Finance and Financial Mathematics, 12 courses.
FINA 5170, Financial Management, 18 courses.
FINA 5500, International Financial Management, 57 courses.
FINA 5650, Contemporary Issues in Finance, 4 courses.
FINA 5900, Special Problems, 2 courses.
FINA 6010, Seminar in Business Administration, 1 course.
FINA 6940, Individual Research, 9 courses.
FINA 6950, Doctoral Dissertation, 18 courses.

Directed Student Learning

Doctoral Advisory Committee Chair,"Can banks’ dividends signal their financial health?," Finance, Insurance, Real Estate and Law. (August 2015 – July 2018).

Dissertation Committee Chair,"Is 100 Percent Debt Optimal? A Study of Aggressive Capital Structure and Myth of Negative Book Equity Firms," Finance, Insurance, Real Estate and Law. (August 2012 – April 2016).

Dissertation Committee Chair,"The Limits of Arbitrage and Stock Mispricing: Evidence from Decomposing the Market to Book Ratio," Finance, Insurance, Real Estate and Law. (March 2011 – May 2015).

Dissertation Committee Co-Chair,"Bank Capital, Efficient Market Hypothesis, and the Determinants of Bank Borrowing during the Financial Crisis of 2007 and 2008," Finance, Insurance, Real Estate and Law. (July 2012 – August 2014).

Dissertation Committee Chair,"Does Underwriter Size Matter? Only Within the Right Context," Finance, Insurance, Real Estate and Law. (August 2011 – March 2014).

Dissertation Committee Chair,"Fed Funds Target Rate Surprise and Equity Duration," Finance, Insurance, Real Estate and Law. (August 2010 – April 2013).

Dissertation Committee Member,"Economic Motivation of Ex-Dividend Day Anomaly: Evidence from Alternative Tax Environment," Finance, Insurance, Real Estate and Law. (August 2009 – May 2011).

Awards and Honors

College of Business, Texas Tech University. (1986).

Research

Published Intellectual Contributions

Conference Proceeding
Tripathy, N., Impson, M. (1990). The Effect of Dividend Decrease Announcements on Bid-Ask Spreads. Decision Sciences Institute, Proceedings of the Decision Science Institute.
Journal Article
Guzman, F., Paswan, A. K., Tripathy, N. (2019). Consumer centric antecedents to personal financial planning. Journal of Consumer Marketing. 36(6), 858=868.
Guzman, F., Paswan, A. K., Tripathy, N. (2019). Consumer centric antecedents to personal financial planning. Journal of Consumer Marketing.
Liu, H., Liu, I., Tripathy, N., (2019). A study on firms with negative book value of equity. Other.
Karafiath, I., Tripathy, N., M. Z. (2018). "Bank Capital, the Announcement of Term Auction Facility of the Fed and Bank Borrowing during the Financial Crisis of 2007 and 2008". Journal of Financial Research. Volume 41(Issue 4,Winter 2018), 411-537. Wiley-Blackwell. https://onlinelibrary.wiley.com/toc/14756803/2018/41/4
Palkar, D., Tripathy, N. (2011). Seasoned Equity Offerings: Stock Market Liquidity and Duration of the Completion Cycle. Managerial Finance.
Chandy, P. R., Sarkar, S. K., Tripathy, N. (2004). Empirical Evidence on the Effects of Delisting from the National Market System. Journal of Economics and Finance. 28(1), 46-56. http://www.springerlink.com/content/u4336ht2900x192t/fulltext.pdf
Hyland, D. C., Sarkar, S. K., Tripathy, N. (2003). Insider Trading When There is an Underlying Option: Cross-Sectional Evidence. Financial Analysts Journal. 59(3), 69-77. http://www.cfapubs.org/toc/faj/2003/59/3
Hanesly,, P., Peak, D., Tripathy, N. (2001). Tracking Errors in the Dow Jones Industrial Average as Compared with Alternative Market Indices: New Evidence. Quarterly Journal of Business and Economics. 40(4), 101-117. http://web.ebscohost.com/ehost/pdf?vid=5&hid=6&sid=7b4531be-ff66-4570-bbc1-a96303d15e59%40sessionmgr12
Sarkar, S. K., Tripathy, N. (2002). An Empirical Analysis of the Impact of Stock Index Futures Trading on Securities Dealers' Inventory Risk in the NASDAQ Market. Review of Financial Economics. 11(1), 1-17. http://www.sciencedirect.com/science?_ob=MImg&_imagekey=B6W61-45CC1J0-1-8&_cdi=6585&_user=452995&_orig=browse&_coverDate=12%2F31%2F2002&_sk=999889998&view=c&wchp=dGLbVzb-zSkzk&md5=1f646e823f4d7a1baf03b0a7e280813c&ie=/sdarticle.pdf
Meera, A. K., Tripathy, N., Redfearn, M. R. (2000). Wealth and Liquidity Effects of Stock Delisting: Empirical Evidence from the Stock Exchanges of Singapore and Malaysia. Applied Financial Economics. 10(2), 199-206. http://pdfserve.informaworld.com/483653_731199542_713761177.pdf
Hudson, W. C., Tripathy, N., Cole, C. S. (1999). The Effect of Credit Watch Removals on Common Stock Returns: New Evidence. Journal of Business and Economic Perspectives. 25(1), 33-42.
Hudson, W. C., Tripathy, N., Cole, C. S. (1999). The Market Reaction to Credit Watch Placements and the Events which Caused Them: Has the Market Learned ?. Journal of Business and Economic Perspectives. 25(1), 24-42.
Tripathy, N., Ganesh, G. K. (1996). Evaluation, Promotion and Tenure of Finance Faculty: The Evaluators' Perspective. Financial Practice and Education. 6(1), 46-53. http://web.ebscohost.com/ehost/pdf?vid=4&hid=112&sid=bfc3325a-2f0b-4b54-adaf-08aa57761289%40sessionmgr114
Ganesh, G. K., Tripathy, N. (1996). The Relative Importance of Teaching Research and Service in Merit Evaluation, Promotion, and Tenure of Marketing Faculty as seen by Evaluators,. Marketing Education Review. 6(1), 65-75. http://web.ebscohost.com/ehost/pdf?vid=3&hid=5&sid=600a44c4-e496-486d-a926-97efc764b7be%40sessionmgr14
Franz, D. R., Rao, R. P., Tripathy, N. (1995). Informed Trading Risk and Bid-Ask Spread Changes Around Open Market Stock Repurchases in the NASDAQ Market. Journal of Financial Research. 18(3), 311-327. http://web.ebscohost.com/ehost/pdf?vid=3&hid=103&sid=b58b5d14-1e34-4d4a-9e57-4f157ad30380%40sessionmgr10
Taube, P. M., MacDonald, D. N., Tripathy, N. (1994). Seasonals, Price Adjustment Delays and Estimated Systematic Risk. Review of Quantitative Finance and Accounting. 4(3), 265-289. http://web.ebscohost.com/ehost/pdf?vid=4&hid=113&sid=657b732b-4fd4-4e9a-92ba-ad1ebbfe54c6%40sessionmgr111
Raman, K. K., Tripathy, N. (1993). The Effect of Supplemental Reserve-Based Accounting Data on Market Microstructure. Journal of Accounting and Public Policy. 12(2), 113-133. http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VBG-45K1HM9-1N&_user=452995&_coverDate=04%2F01%2F1993&_rdoc=2&_fmt=high&_orig=browse&_srch=doc-info(%23toc%235926%
Moyer, R. C., Rao, R. P., Tripathy, N. (1992). Dividend Policy and Regulatory Risk: A Test of the Smith Hypothesis. Journal of Economics and Business. 44(2), 127-134.
Tripathy, N., Rao, R. P. (1992). Adverse Selection, Spread Behavior and Over-the-counter Seasoned Equity Offerings,. Journal of Financial Research. 18(1), 39-56. http://web.ebscohost.com/ehost/pdf?vid=4&hid=2&sid=bef79e70-03e1-4089-81dc-c3d07e3c34b0%40sessionmgr4
Tripathy, N., Peterson, R. L. (1991). Portfolio Risk, Adjustment Costs and Security Dealers' Spreads,. Journal of Financial Services Research. 14(2), 131-142. http://web.ebscohost.com/ehost/pdf?vid=3&hid=2&sid=22826d5c-0a3f-4e71-86b0-6fae1b7f0f57%40sessionmgr114
Tripathy, N., Peterson, R. L. (1991). The Relationship Between OTC Bid-Ask Spreads and Dealer Size: The Impact of Order-Processing and Diversification Costs. Journal of Financial Research. 14(2), 117-127. http://web.ebscohost.com/ehost/pdf?vid=3&hid=4&sid=4088562c-22eb-40d9-8463-2114ac440623%40sessionmgr114
Rao, R. P., Tripathy, N., Dukes, W. P. (1991). Dealer Bid-Ask Spreads and Options Trading on Over-the-counter Stocks. Journal of Financial Research. 14(4), 317-325. http://web.ebscohost.com/ehost/pdf?vid=4&hid=4&sid=9f9e10f0-7135-4304-a7ba-e1335aa76a38%40sessionmgr14

Presentations Given

Paper

Tripathy, N. (Author & Presenter), AlShammasi, N. (Author), Southwest Finance Association Annual Meeting, The Limits of Arbitrage and Stock Mispricing: Evidence from Decomposing the Market to Book Ratio, Southwest Finance Association, Oklahoma City, Oklahoma, United States of America. (2016).

Tripathy, N. (Author & Presenter), Hudson, W. C. (Author), Southwest Finance Association Annual Meeting, A Classroom Demonstration of a Relative Value Trade Using Treasury Bonds and AAA Rated Corporate Bonds, Southwest Finance Association Annual Meeting, Dallas, Texas, United States of America. (2014).

Tripathy, N. (Author & Presenter), Tee, K. (Discussant), Southwest Finance Association Annual Meeting, Fed Funds Target Rate Surprise & Equity Duration, Southwest Finance Association Annual Meeting, Albuquerque, New Mexico, United States of America. (2013).

Contracts, Grants and Sponsored Research

Grant - Research
Tripathy, N., "Bloomberg for Education Symposium," Sponsored by FIREL Department, UNT, $1500 Funded. (2012 – 2012).
Tripathy, N., "UNT Delegation to Conferences organized by SENESCYT, CONCYTEC, Fulbright Commission, and EducationUSA in Peru and Ecuador," Sponsored by UNT International, $6000 Funded. (2011 – 2011).
Tripathy, N., "Faculty Development In International Business - Center for International Business & Education Research," Sponsored by FIREL Department, UNT, $3800 Funded. (2010 – 2010).
Tripathy, N., "UNT International Faculty Development Program in China," Sponsored by UNT International, $5000 Funded. (2009 – 2009).
Tripathy, N., "Financing Extraordinary Capital Expenditure and Capital Structure Reversals," Sponsored by FIREL Department, UNT, $5000 Funded. (2007 – 2007).
Tripathy, N., "Development and Integration of a Student Managed Investment Fund Program into FINA 4200," Sponsored by Undergraduate Instructional Development Grant, - University of North Texas, $8000 Funded. (2001 – 2001).
Tripathy, N., "Which Trading System Provides the Best Price Stability?," Sponsored by Research Development Grant - College of Business Administration, University of North Texas, $6000 Funded. (2000 – 2000).
Tripathy, N., "Insider Trading and Transactions Costs: Empirical Tests," Sponsored by Research Development Grant - College of Business Administration, University of North Texas, $6000 Funded. (1999 – 1999).
Tripathy, N., "Do Informed Traders Migrate from the Options Market to the Stock Market," Sponsored by Research Opprotunity Grant - University of North Texas, $3500 Funded. (1997 – 1997).
Tripathy, N., "Curriculum Innovation and Assessment Initiative Grant for Summer Teaching at Sheffield Business School, UK," Sponsored by College of Business Administration, University of North Texas, Funded. (1994 – 1994).
Tripathy, N., "Private Information and Options Market: Empirical Tests," Sponsored by Faculty Research Initiative Grant, - College of Business Administration, University of North Texas, $6500 Funded. (1994 – 1994).
Tripathy, N., "An Empirical Analysis of the Impact of Stock Index Futures Trading on Securities Dealers' Inventory Risk," Sponsored by Faculty Research Initiative Grant,- College of Business Adminstration, University of North Texas, $5420 Funded. (1993 – 1993).
Tripathy, N., "Price and Liquidity Effects of Delisting from the National Market System," Sponsored by Faculty Research Grant - University of North Texas, $1200 Funded. (1991 – 1991).
Tripathy, N., "Insider Trading and Adverse Selection Component of Dealer Spreads," Sponsored by Professional Development Institute Research Grant - College of Business, University of North Texas, $3000 Funded. (1990 – 1990).
Tripathy, N., "Insider Trading and Adverse Selection Trading Components of Bid-Ask Spreads: Empirical Tests," Sponsored by Research Initiation Grant - University of North Texas, $2500 Funded. (1990 – 1990).
Tripathy, N., "Behavior of Spreads Around Seasoned Equity Announcements," Sponsored by Professional Development Institute Research Grant - College of Business, University of North Texas, $3000 Funded. (1989 – 1989).
Tripathy, N., "Determinants of Utility Dividend Policies: A Test of Agency and Regulatory Motivations," Sponsored by Research Initiation Grant - University of North Texas, $1500 Funded. (1989 – 1989).
Tripathy, N., "The Effects of Stock Index Futures Trading on the Security Dealer's Bid-Ask Spreads," Sponsored by Research Initiation Grant - University of North Texas, $1500 Funded. (1988 – 1988).
Tripathy, N., "An Empirical Examination of a New Rationale for Stock Splits," Sponsored by Research Initiation Grant - University of North Texas, $1800 Funded. (1987 – 1987).

Awards and Honors

Outstanding Faculty Award for Research, FIREL Department, College of Business, University of North Texas. (2006).

Outstanding Faculty Award for Research, FIREL Department, College of Business, University of North Texas. (2005).

Outstanding Faculty Award for Research, FIREL Department, College of Business, University of North Texas. (2004).

University of North Texas. (2000).

Southwestern Finance Association. (1993).

College of Business, Texas Tech University,. (1986).

Service

University Service

Committee Member, SIG Faculty Advisory Council. (August 20, 2022 – August 20, 2025).

Member, Finance Area Schedule Coordinator. (September 2020 – September 2024).

Chairperson, FIREL Search Committee - Senior Lecturer Position in Finance (2024). (November 15, 2023 – December 6, 2023).

Committee Member, Fine Arts Series. (August 20, 2023 – November 16, 2023).

Committee Chair, Reappointment, Promotion, and Tenure Committee - Midterm Reviews. (September 27, 2023 – October 26, 2023).

Committee Member, Inclusive Curriculum Review. (February 15, 2023 – October 10, 2023).

Member, Mentor for Assistant Professor - Stephen Owen. (August 31, 2023 – August 31, 2023).

Chairperson, FIREL Search Committee - Clinical Associate/Assistant Professor (2022). (September 2021 – February 2022).

Member, RCoB: Reappointment, Promotion, and Tenure Committee (2021). (September 1, 2021 – December 31, 2021).

Member, Mentor for visiting assistant professor. (September 2021 – November 2021).

Member, Ad hoc committee to review prerequisites for the BBA degree plans in finance. (September 2021 – October 2021).

Member, FIREL Research Seminar Coordinator. (September 2020 – August 2021).

Member, Assisted department chair to nominate Mazhar Siddiqi for Emeritus Professor. (July 1, 2021 – July 31, 2021).

Chairperson, Grade appeal committee. (June 1, 2021 – June 30, 2021).

Chairperson, FIREL Search Committee - Tenure Track Assistant Professor of Finance (2021). (September 2020 – December 2020).

Member, RCoB: Reappointment, Promotion, and Tenure Committee (2020). (September 1, 2020 – December 31, 2020).

Member, Departmental PhD Policy Committee. (2013 – 2020).

Chairperson, FIREL Search Committee. (2018 – 2019).

Chairperson, FIREL Search Committee. (2017 – 2018).

Committee Chair, Reappointment, Promotion, and Tenure Committee. (September 1, 2017 – August 31, 2018).

Committee Member, FIREL Assesment Committee. (2016 – 2017).

Committee Member, FIREL Search Committee. (2016 – 2017).

Committee Chair, Reappointment, Promotion, and Tenure Committee. (September 1, 2016 – August 31, 2017).

Committee Member, International Committee. (September 1, 2005 – August 31, 2017).

Committee Member, FIREL Assesment Committee. (2015 – 2016).

Chairperson, FIREL Search Committee. (2014 – 2015).

Committee Chair, FIREL Assesment Committee. (2013 – 2015).

Committee Chair, Reappointment, Promotion, and Tenure Committee. (September 1, 2013 – August 31, 2015).

Chairperson, FIREL Search Committee. (2013 – 2014).

Faculty Sponsor, CFA institute's University Recognition Program. (2012 – 2012).

Committee Member, Reappointment, Promotion and Tenure Committee. (September 1, 2010 – August 31, 2012).

UNT International Delegation. (2011 – 2011).

Committee Chair, Faculty Research Committee. (September 1, 2009 – August 31, 2010).

Committee Member, Super Promotion and Tenure. (September 1, 2008 – August 31, 2010).

Other Institutional Service Activities, Member of UNT International Faculty Development Program in China. (2009 – 2009).

Mentor - Emerald Eagle Scholars Program. (2009 – 2009).

Other Institutional Service Activities, Member of Search Committee for Associate Director of Research Development. (2008 – 2008).

Other Institutional Service Activities, Member, Search Committee for Director of Research. (2008 – 2008).

Member, UNT Research Council. (2008 – 2008).

UNT Research Cluster Review Committee. (2008 – 2008).

COBA International Committee: 2005 - present. (2005 – 2005).

Personal Affairs Committee. (2004 – 2004).

Other Institutional Service Activities, Promotion & Tenure Committee. (2001 – 2001).

Financial Service Center Committee. (2000 – 2000).

Member, Self Evaluation Process Team 5. (1996 – 1996).

COBA Ph.D. Policy Committee. (1994 – 1994).

Doctoral Student Advisor. (1994 – 1994).

Faculty Marshal. (1992 – 1992).

Mentor, NT Connection Program: 1991-92. (1991 – 1991).

Personal Affairs Committee. (1991 – 1991).

University Honors Committee: 1991-94. (1991 – 1991).

Who's Who Committee. (1991 – 1991).

Other Institutional Service Activities, Finance Area Scholarship Committee. (1989 – 1989).

Professional Service

Program Coordinator, CFA Student Scholarship Award, Denton, Texas. (December 5, 2022 – January 25, 2023).

Reviewer, Ad Hoc Reviewer, Financial Management / Journal of Financial Research / Financial Review / Review of Financial Econo. (2006 – 2006).

Editor, Associate Editor, Journal of the Midwest Finance Association. (2006 – 2006).

Public Service

Board Member, DFW CFA Society - University Relations Committee, Dallas, Texas. (August 2017 – August 2018).

Board Member, DFW CFA Society - University Relations Committee, Dallas, Texas. (August 2016 – August 2017).

Board Member, DFW CFA Society - University Relations Committee, Dallas, Texas. (August 2015 – August 2016).

Board Member, DFW CFA Society - University Relations Committee, Dallas, Texas. (August 2014 – August 2015).

Board Member, DFW CFA Society - University Relations Committee, Dallas, Texas. (August 2013 – August 2014).

Board Member, DFW CFA Society - University Relations Committee, Dallas, Texas. (August 2012 – August 2013).

Board Member, DFW CFA Society - University Relations Committee, Dallas, Texas. (August 2011 – August 2012).

Committee Member, Faculty Advisor to the UNT Indian Student Association. (2009 – 2011).

Board Member, DFW CFA Society - University Relations Committee, Dallas, Texas. (March 2010 – March 2011).

Board Member, DFW CFA Society - University Relations Committee, Dallas, Texas. (March 2009 – March 2010).

Committee Member, Faculty Advisor to Amnesty International - UNT Chapter. (2009 – 2009).

Committee Member, Financial Management Association Annual Meeting. (1991 – 1991).

Committee Member, Southwestern Finance Association (1990-00). (1990 – 1990).

Awards and Honors

Faculty Award for Exceptional Service, FIREL Department. (December 15, 2023 – Present).