Dr. P.V. Viswanath

pviswanath@pace.edu

Research/Publications

Microfinance

Published Papers

• Pavel Alejandro and P.V. Viswanath. 2019. The new financial framework for the Cuban non-state sector.  Post-Communist Economies, 31(2).  https://doi.org/10.1080/14631377.2018.1460534
• P.V. Viswanath. 2018. Microfinance and the Decision to Invest in Children’s Education. International Journal of Financial Studies 6: 1, http://dx.doi.org/10.3390/ijfs6010016
• P.V. Viswanath. 2018. Microcredit and Survival Microenterprises: The Role of Market Structure. International Journal of Financial Studies 6: 1, doi:10.3390/ijfs6010001
• P.V. Viswanath. 2015. “Microfinance and Investment in Human and Social Capital,” ACRN Journal of Finance and Risk Perspectives, Special Issue of Social and Sustainable Finance, Vol.4 Issue 3, July 2015, p. 81-101.

Indica

• P.V. Viswanath "Customs Duty Evasion and Enforcement in the Arthashastra," Journal of the American Oriental Society, Vol. 144, no. 4, pp. 789-806.

Law and Economics

Published Papers

• Daniel Tinkelman, P.V. Viswanath, and Glen M. Vogel. “ Sub S Valuation: To Tax Effect or not to Tax Effect is not really the question,” The Tax Lawyer, Spring 2012, v. 65, no. 3.
• Michael Szenberg and P.V. Viswanath. “Religious Perspectives on the Economic Crisis: An Overview,” in The Great Recession: Major Religious Perspectives on the Global Economic and Financial Crisis, Michael Szenberg and Lall Ramrattan (eds.), Amazon Press, 2012.
• P.V. Viswanath and Michael Szenberg. “Could What You Don't Know Hurt You? Information Asymmetry in Land Markets in Late Antiquity,” in Aaron Levine (ed.) The Oxford Handbook of Judaism and Economics, Oxford University Press,  2010, Chapter 9, pp. 182-193.
• P.V. Viswanath. “Explorations in the Economics of Intertemporal Asset Transfer in Roman Palestine,” American Economist, December 2008.
• “Examining the Biblical Perspective on the Environment in a Costly Contracting Framework,” in Carmel Chiswick and Tikva Lehrer (eds.) , Economics of Judaism, Bar Ilan University Press, 2007. (with Michael Szenberg)
• "Bondholder-Stockholder Conflict: Contractual Covenants Vs. Court-Mediated Ex-post Settling Up," with Wayne Eastman, The Review of Quantitative Finance and Accounting, vol. 21, no. 1, September 2003.
• “Risk Sharing, Diversification and Moral Hazard in Roman Palestine: Evidence from Agricultural Contract Law,” The International Review of Law and Economics, November 2000, vol. 20, pp. 353-369.  (Number 3 in the top 10 download list of papers for Journal of CRN: Middle & Late Empire (Roman History), January 2, 1997 to October 23, 2012 on SSRN, and Number 8 for Journal of CRN: Roman History)
• “Risk Sharing in the Mishna: An Economic Explanation of a Mishnaic Law Pertaining to Agricultural Rental Contracts” Proceedings of the International Conference on Law, Jewish Law and Economics at Bar-Ilan University, Ramat-Gan, Israel, December 1998. 
• "Almost Two Decades Later, Buffalo Tool Admonishments Still Largely Ignored." Taxes, January 1997.
• "Agency Problems of Debt, Convertible Securities, and Deviations from Absolute Priority in Bankruptcy." The Journal of Law and Economics, 37, no. 2, October 1994. (with Michael Frierman).

Working Papers

• "The Specification of Interest Rates in Ancient Athens,” Working Paper, April 2011.
• “The Use of Real Estate for the Settlement of Claims in Jewish Babylonia,” April 2006, Working Paper.
• "Repeated Interaction, Deep Pockets, and Litigation Spending," March 2003 with Wayne Eastman.

Corporate Finance

Published Papers

• Elena Goldman and P.V. Viswanath. “Export Intensity and Financial Leverage of Indian Firms,” International Journal of Trade and Global Markets, vol. 4, no. 2, pp. 152-171, 2011
• Ming Jia, Li Tong, P.V. Viswanath and Zhe Zhang. “Word Power: The Impact of News Media on Corporate Pollution Practices,” Journal of Business Ethics, March 2015, pp. 1-22.
• Goldman, Elena and P.V. Viswanath. 2017. “Internal Capital Markets, Forms of Intra-Group Transfers and Dividend Policy: Evidence from Indian Corporates,” Journal of Financial Research, 40(4): 567–610. (http://onlinelibrary.wiley.com/doi/10.1111/jfir.12135/full)
• Goldman, Elena and P.V. Viswanath. 2015. “Export Intensity and Dividend Policy of Indian Firms,” in Reviving Growth in India, Pradeep Agrawal (ed.), Cambridge University Press, Delhi, India, pp. 358-386.  https://doi.org/10.1017/CBO9781316106631.015
• "Export Intensity and Financial Leverage of Indian Firms," International Journal of Trade and Global Markets, vol. 4, no. 2, pp. 152-171, 2011. (with Elena Goldman)
• “An Overview of Bankruptcy Procedures Around the World,” chapter in Advanced Corporate Finance, Chandrasekhar Krishnamurti and S.R. Vishwanath (eds.),PHI Learning Private Limited, New Delhi.
• “How Much Value do Corporate Hedging Programs Create?  Assessing the Impact of Hedging on Inefficient Investment,” ICFAI Journal of Applied Finance, April 2007.
• “Testing Dividend Theories: Evidence from Dividend Payments versus Earnings Retention,” ICFAI Journal of Applied Finance, December 2005. (with Kaustav Sen)
• "Century Bonds: Issuance Motivations and Debt versus Equity Characteristics," Journal of Applied Business Research, vol. 19, no. 3, Summer 2003. (with Kam Chan and Annie Wong)
• "Dilution, Dividend Commitments and Liquidity: Do Dividend Changes Reflect Information Signaling?" The Review of Quantitative Finance and Accounting, 2002, vol. 18, no. 4. (with Yu Kyung Kim and Jayant Pandit)
• "Implicit Contracts and the Use of Covenants in Bondholder Indentures." Economic Liberalization: Its Impact on Indian Economy, Business, and Society, Association of Indian Economic Studies, Macomb, Il. July 1997.
• "Agency Problems of Debt, Convertible Securities, and Deviations from Absolute Priority in Bankruptcy." The Journal of Law and Economics, 37, no. 2, October 1994. (with Michael Frierman).
• "Asset Fungibility and Equilibrium Capital Structures." Journal of Economics and Business, 47, no. 4, October 1995, p. 319-334 (with Michael Frierman).
• "Capital Budgeting and Asymmetric Information." Advances in Financial Planning and Forecasting, vol. 5, 1994, (ed.) C.F. Lee, Jai Press.
• "Adjusting Capital Budgeting Rules for Information Asymmetry," Financial Management, 22, 4 (Winter 1993), p. 22-23.
• "Strategic Considerations, The Pecking Order Hypothesis and Market Reactions to Equity Financing." Journal of Financial and Quantitative Analysis, 28, no. 2, June 1993.
• "Relative Costs of Financing Modes, Managerial Myopia and Information Effects of Financing Decisions." Proceedings of the European Finance Association Annual Conference, Lisbon, Portugal, August 1992.

Working Papers

• "Does Cashflow Volatility Explain Dividend Policy? Evidence from Exporting and non-Exporting Firms in India." (with Elena Goldman)
• Jay Pandit and P.V. Viswanath. “Corporate Focus and Tracking Stocks: Does Operational Focus add to firm value?,” June 2003, Working Paper.
• Jay Pandit and P.V. Viswanath. “Tracking Stocks and Financial Focus,” December 2003, Working Paper.
• Jouahn Nam and P.V. Viswanath, “Acquiring Privately-Held Firms: A Costly Search Perspective,” March 2003, Working Paper.

Investments

Published Papers

• Padmaja Kadiyala and P.V. Viswanath. “ Size Effects in the Pricing of Corporate Bonds,” Financial Markets, Institutions and Instruments, vol. 22, no. 4, 2013, pp. 229-258.
• “Bull and Bear Markets,” International Encyclopaedia of the Social Sciences, 2nd edition.
• “Bid-Ask Spreads,” International Encyclopaedia of the Social Sciences, 2nd edition.
• "Project Selection and Stochastic Volatility of Asset Prices, Abstract," Journal of Finance, 48, 3 (July 1993), p. 1111 (with Shashidhar Murthy).
• "Structure Stability with Ex-Ante Factor Specification in the APT." International Journal of Finance 3, no. 1, (Autumn 1990): 121-157 (with Krishna Hegde).

Working Papers

• Menahem Rosenberg and P.V. Viswanath. “The Impact of Unexpected Inflation on Firm Value: The Duration Effect,” January 2004, Working Paper.
• P.V. Viswanath and Gordon Tang, “Stocks that Behave Like Bonds,” November 2003, Working Paper.

Risk and Insurance

Published Papers

• "Solvency Risk and Optimal Tax Sheltering of Property-Liability Insurers." Journal of Risk and Insurance, September 1995 (with Richard Ponarul).
• "Solvency Risk and the Tax Sheltering Behavior of Property-Liability Insurers," Proceedings of the 4th International Conference on Insurance Solvency and Finance, Philadelphia, Pa., April 1994 (with Richard Ponarul).

Futures Markets

Published Papers

• "Efficient Use of Information, Convergence Adjustments and Regression Estimates of Hedge Ratios." Journal of Futures Markets, 13, no. 1, (February 1993): 43-54.
• "Robustness Results for Regression Hedge Ratios: Futures Contracts with Multiple Deliverable Grades." Journal of Futures Markets 12, no. 3 (June 1992): 253-264 (with Sris Chatterjee).
• "Taxes and the Futures-Forward Price Difference in the 91-day T-bill Market." Journal of Money, Credit and Banking 21, no. 2, (May 1989): 190-205.

Finance and Marketing

Published Papers

• "The Effect of New Product Preannouncements and Announcements on the Value of the Firm," Journal of Market Focused Management, v. 2, no. 2, 1997, p. 183-199. (with Paul Koku and Sharan Jagpal)

Judaica

Published Research Articles

• "Recife: The Cradle of Jewish America," Middle Atlantic Review of Latin American Studies, 3(1), 2019, pp.81–91. DOI: http://doi.org/10.23870/marlas.232
• "Could What You Don't Know Hurt You? Information Asymmetry in Land Markets in Late Antiquity," in Aaron Levine (ed.) The Oxford Handbook of Judaism and Economics, Oxford University Press,  2010. (with Michael Szenberg)
• "Explorations in the Economics of Intertemporal Asset Transfer in Roman Palestine," American Economist, v. 52, no. 2, pages 77-86.
• “Examining the Biblical Perspective on the Environment in a Costly Contracting Framework,” in Carmel Chiswick and Tikva Lehrer (eds.) , Economics of Judaism, Bar Ilan University Press, 2007. (with Michael Szenberg)
• “Risk Sharing, Diversification and Moral Hazard in Roman Palestine: Evidence from Agricultural Contract Law,” The International Review of Law and Economics, November 2000, vol. 20, pp. 353-369. 
• “Risk Sharing in the Mishna: An Economic Explanation of a Mishnaic Law Pertaining to Agricultural Rental Contracts” Proceedings of the International Conference on Law, Jewish Law and Economics at Bar-Ilan University, Ramat-Gan, Israel, December 1998. 

Other Published Judaica Articles and Video Presentations

• Anti-Semitism from Innocence (Presentation in the ISGAP series, March 18, 2021)
• Black People in Jewish Tradition: Eliminating Racism Requires Honesty - TheTorah.com
• The Megillat Esther Massacre, TheTorah.com
• Visiting a Torah-Filled Community in India, Jewish Link, November 29, 2018
• Shirei Hodu: New melodies emerge in Indian Jewish research, Jewish Standard, February 16, 2017
• From the Reich to the Raj: Uncovering the story of German refugees in India, Jewish Standard, April 13, 2017
• The Hungarian Jewish girl who became Indian almost-royalty, Jewish Standard, December 7, 2017
• Jewish Cuba, Jewish Standard, October 6, 2016
• My brief life as a terrorist, Jewish Standard, August 20, 2015
• Between the straits, Jewish Standard, September 10, 2015
• Why (Some) Jews Are Racist, Jewish Link, October 17, 2013
• "Racism and Chosenness: What it means to be a Light Unto the Nations," Conversations, 2013, v. 17.
• One God, Many Tongues, The Jewish Week
• The Convert's Contribution, The Jewish Week
• Kosher Equals Vegetarian, The Jewish Week
• "The Jews of India." (In Yiddish) Yugntruf, New York, 65 (December 1988). Reprinted in Sovietish Heymland, Moscow, Russia (July 1989) and in Birobidzhaner Stern, Birobidzhan, Russia (July 10, 1992).

Working Papers

• “The Use of Real Estate for the Settlement of Claims in Jewish Babylonia,” April 2006, Working Paper.

Other Publications

• Cooper, Benjamin; P.V. Viswanath and Zeba Syed. “Diagnostic Mammogram Same Day Test Results,” Abstract no. 74, Proceedings of the 2015 Annual College of Radiology Meetings, Washington, DC.