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Harjeet S. Bhabra, PhD

Professor Emeriti, Finance



Dr. Bhabra's principal research and teaching interests are in corporate finance and investments. Prior to joining Concordia University in 1997, he taught at SUNY-Binghamton (New York). He holds a Bachelor's Degree in Engineering from the I.I.T., Kharagpur (India) and an MBA from I.I.M., Bangalore (India).

His research has been published in Financial Management, Journal of Banking and Finance, Financial Review, Information and Management, Accounting and Finance, Journal of Multinational Financial Management, Managerial Finance, Review of Financial Economics, North American Journal of Economics and Finance, Canadian Journal of Administrative Sciences, Journal of Market Focused Management, and other business journals. He has presented papers in several international and national conferences including the FMA International, FMA Europe, PACAP-FMA, EFMA, Australasia Banking and Finance Conference, Northern Finance Association, ASAC, Southern Finance Association, Midwest Finance Association and South-West Finance Association.

Dr. Bhabra has served on the program committees of several conferences and has been a regular reviewer for many finance journals. He teaches the PhD seminar on corporate finance and has regularly taught the advanced corporate finance seminar in the MSc, MBA, EMBA and undergraduate programs. He has supervised graduate student research on a wide variety of topics including capital structure in emerging markets, IPOs, M&As in developed and emerging markets, and corporate social responsibility. He served as the Associate Dean (Research and Research Programs) from 2010 to 2016. Previously, he has served as the Director of the MBA and E-Commerce Programs from 2004 to 2006.

Education

PhD in Finance         1995        University of Missouri-Columbia, USA
MBA in Finance        1988        Indian Institute of Management, Bangalore, India
B.Tech. (Hons.)       1983        Indian Institute of Technology, Kharagpur, India 

Areas of expertise

  • Capital structure
  • Corporate governance
  • Mergers and acquisitions
  • Initial public offerings (IPOs)
  • Corporate payout policy
  • Financing decisions


Teaching

PhD Program:   1) Doctoral Seminar in Financial Theory and Corporate Policy

MSc Program:   1) Seminar on Financial Theory and Corporate Policy

MBA Program: 1) Financial Management; 2) Seminar in Financial Theory; 3) Seminar in Corporate  Finance;  4) Business Research Methodologies

EMBA Program: 1) Foundations of Finance; 2) Financial Decision Making Under Uncertainty

Investment MBA Program: 1) Cases in Financial Markets; 2) Asset Allocation

Undergraduate Commerce Program: 1) Introduction to Finance;  2) Theory of Corporate Finance; 3) Theory of Finance II; 4) Advanced Topics in Corporate Financing Decisions



Publications

Refereed Journal Publications

 Bhabra, Harjeet S. and Ashrafee T. Hossain, "Did the Sarbanes-Oxley Act result in a strategic shift in merger motives?," Managerial Finance, 2017, Forthcoming

Bhabra, Harjeet S., Gurmeet S. Bhabra and Qi Chang, "Does the quality of acquisitions inform bond rating revisions?," Accounting and Finance, 2017, Forthcoming

Bhabra, Harjeet S. and Ashrafee T. Hossain, "Does Location Influence Executive Compensation? Evidence from Canadian SMEs," Journal of Management and Governance, 2017, Forthcoming

Bhabra, Harjeet S. and Ashrafee T. Hossain,"Impact of SOX on the Returns to Targets and Acquirers in Corporate Tender Offers," North American Journal of Economics and Finance, November 2017, Vol. 42, 1-19. (Lead article)

Bhabra, Harjeet S. and Ashrafee T. Hossain, "Sarbanes-Oxley Act and Corporate Acquisitions," Managerial Finance, April2017, Vol. 43(4), 452-470.

Bhabra, Harjeet S. and Ashrafee Hossain, "Market Conditions,Governance and the Information Content of Insider Trades," Review of Financial Economics, January 2015, Vol. 24, 1-11. (Lead article)

Bhabra, Harjeet S. and Jiayin Huang, "An Empirical Investigation of Mergers and Acquisitions by Chinese listed companies, 1997-2007," Journal of Multinational Financial Management, 2013, Vol. 23 Issue 3, 186-207.

Anderson, Steven T., Gurmeet S. Bhabra, Harjeet S. Bhabra and Asjeet S. Lamba, "Do Corporate Bond Ratings Revisions ConveyInformation about Earnings and Dividend Changes," Corporate Ownership and Control,2012, Vol. 9 Issue 3, 371-391.

Hakim, Tatiana, Gregory J. Lypny and Harjeet S. Bhabra, “IPO Lockup Expiration in the Middle East and North Africa Region,” Journal of Multinational Financial Management, 2012, Vol.22 Issue 5, 252-262.

Bhabra, Harjeet S. and Tiemei Li, "IndependentDirectors and Corporate Performance: Evidence from Listed Firms in China,"Corporate Ownership and Control, 2011, Vol. 8 Issue 3, Spring, 145-169.

Bhabra, Gurmeet S., Harjeet S. Bhabra and Glenn W.Boyle, “Corporate Layoffs and Competition,” Journal of Money, Investment and Banking, 2011, Issue19, 42–54.

Bhabra, Gurmeet S., Harjeet S. Bhabra and Glenn W.Boyle, “Leverage and Wealth Gains from Acquisition Program Announcements,” Corporate Ownership and Control,2010, Vol. 8 Issue 2,  267 - 280.

Bhabra, Harjeet S. Tong Liu and Dogan Tirtiroglu, “Capital Structure Choice in a Nascent Market: Evidence from Listed Companies in China,”Financial Management,2008, (Summer Issue) 341-364.

Bhabra, Harjeet S. and Louis Rheaume, “Value creation in information based industries through convergence:  A study of U.S. mergers and acquisitions between 1993 and 2001,” Information and Management, 2008, Vol. 45, 304-311.

Panasian, Christine, Andrew Prevost and Harjeet S. Bhabra, “Voluntary Listing Requirements and Corporate Performance: The Case of the Dey Report and Canadian Firms,” Financial Review, 2008, (February) Vol. 43, 129-157.

Tirtiroglu, Dogan, Ugur Lel and Harjeet S. Bhabra, “Political Risk and Asset Pricing: Evidence from Business Relocations in Canada,” Journal of Banking and Finance,2004,Vol. 28, 2237-2258

Bhabra, Harjeet S. and Richard H. Pettway, “IPO Prospectus Information and Subsequent Performance,” Financial Review, 2003 (August), Vol. 38(3), 369-397

Bhabra, Harjeet S., Ugur Lel and Dogan Tirtiroglu, “CanadianEvidence on the Market’s Reaction to Business Relocation Announcements,” Canadian Journal of Administrative Sciences, 2002, Vol. 19(4), 346-358

Mishra, Debi P. and Harjeet S. Bhabra, “Assessing the Economic Worth of New Product Pre-Announcement Signals: Theory and Empirical Evidence,” Journal of Product and Brand Management, 2001, Vol. 10 No. 2, 75-93. (Lead Article)

Bhabra, Harjeet S., Upinder S. Dhillon and Gabriel G.Ramirez, “A November Effect? Revisiting the Tax-Loss Selling Hypothesis,” Financial Management, 1999, Vol.28 No. 4, Winter, 5-15. (Lead Article)   

Bhabra, Harjeet S., Yul W. Lee and Ajay Patel, “An Empirical Examination of Calls of Convertible Bonds When They Are Out of the Money,” Advances in Financial Planning and Forecasting, Vol. 7, 1997, 83-105.

Mishra, Debi P., George S. Bobinski and Harjeet S. Bhabra, “Assessing the Economic Worth of Corporate Event Sponsorships: A Stock Market Perspective,” Journal of Market Focussed Management, 1997, Vol. 2, 149-169.

Bhabra, Harjeet S. and Ajay Patel, “Convertible Bond Financing: Are Some Issuers Mimickers?” Financial Management, 1996, Vol. 25 No. 4, Winter, 67-77.

 

Refereed Conference Proceedings

Bhabra, Harjeet S. and Ashrafee T. Hossain, " The Effect of Sarbanes-Oxley Act on Corporate Acquisitions",  Midwest Finance Association Conference Proceedings, Vol. 11, 2014

Bhabra, Harjeet S. and Ashrafee T. Hossain, "Regulatory Changes, Market Conditions and Information Content of Insider Trades", Midwest Finance Association Conference Proceedings, Vol. 10, 2013

Anderson, Steven T., Gurmeet S. Bhabra, Harjeet S. Bhabra and Asjeet S. Lamba, "Earnings and Dividend Information Containedin Bond Ratings Changes," Midwest Finance Association Conference Proceedings,Vol. 4, 2007

Anderson, Steven T., Gurmeet S. Bhabra, HarjeetS. Bhabra and Asjeet S. Lamba, "Earnings and Dividend InformationContained in Bond Ratings Changes," ICFAI Conference, Hyderabad,India,December 2006, Advances in Business and Finance Studies,Proceedings of the ICFAI Conference held in Hyderabad, India, December 2006

Tirtiroglu, Dogan, Gabriela Rusu and Harjeet S.Bhabra, "Bias in Analysts’ Earnings Forecasts and Foreign CurrencyHedging: Evidence from Multinational, Large and Non-Financial U.S.Corporations,"  Abstract in the Proceedings of the Australasia Banking and Finance Conference,Sydney, Australia, December 2003

Tirtiroglu, Dogan, Gabriela Rusu and Harjeet S. Bhabra, “Bias in Analysts’ Earnings Forecasts and Foreign Currency Hedging:Evidence from Multinational, Large and Non-Financial U.S. Corporations,” Abstract in the Proceedings of the Multinational Finance Society Conference, Montreal, Canada, July 2003

Bhabra, Harjeet S., Dogan Tirtiroglu and Ugur Lel,"Stock Market's Reaction to Business Relocations: Canadian Evidence,"Abstract in Proceedings of the Administrative Sciences Association of Canada, Winnipeg, Manitoba, Canada, May 2002


Participation activities

Participation in Academic Conferences

2017     EuropeanFinancial Management Association Conference, Athens,Greece

            MidwestFinance Association Conference, Chicago

            3rd Annual InternationalCorporate Governance Society Conference, Rome, Italy (Co-author)

2016     FinancialManagement Association International Conference, Las Vegas

            International Conference on Financial Markets and CorporateFinance, IIT Madras, India

            Asian FinanceAssociation Conference, Bangkok, Thailand (Co-author)

            European Financial Management Association Conference, Basel, Switzerland

2015     IndiaFinance Conference, IIM Kolkata, India

2014     WorldFinance and Banking Symposium, Singapore

            IndiaFinance Conference, IIM Bangalore, India

            Academyof Finance Conference, Chicago, USA (Co-author)

            MidwestFinance Association Meetings, Orlando, USA

2013     India Finance Conference, IIM Ahmedabad,India

            FinancialManagement Association International, Chicago, USA

            MidwestFinance Association Meetings, Chicago, USA

2012     FinancialManagement Association International, Atlanta, USA

2011     IndiaFinance Conference, IIM Bangalore, India

            AmericanReal Estate and Urban Economics Association Meeting, Denver, USA

2010     FinancialManagement Association International, New York, USA

            SouthWestern Finance Association, Dallas, USA 

2008     Symposiumon Corporate Governance in China and India, Old Dominion University, Norfolk           

2007     FinancialManagement Association International, Orlando, USA

            MidwestFinance Association Meetings,  Minneapolis, USA

2006     ICFAIConference, Hyderabad, India (Co-author)

            SpecialConference of the Journal of Banking andFinance, Beijing, China (Co-author)

2005     NorthernFinance Association, Vancouver, Canada

2004     FinancialManagement Association International, New Orleans, USA

            MultinationalFinance Society, Istanbul, Turkey (Co-author)

2003     AustralasiaBanking and Finance Conference,Sydney, Australia

            MultinationalFinance Society, Montreal, Canada

2002     Financial Management Association International, Chicago, USA

            NorthernFinance Association, Banff, Alberta, Canada

            AdministrativeSciences Association of Canada, Winnipeg, Manitoba, Canada

2001     Southern FinanceAssociation, Destin, USA (Co-author)

            GermanFinance Association, Vienna, Austria, (Co-author)

2000     FinancialManagement Association International, Seattle, USA

            AmericanReal Estate and Urban Economics Association, Boston,USA (Co-author)

1999     FinancialManagement Association International, Orlando, USA

            FinancialManagement Association European Conference, Barcelona,Spain (Co-author)

            PACAP-FinancialManagement Association Meetings, Singapore (Co-author)

1998     FinancialManagement Association International, Chicago, USA

1997     FinancialManagement Association International,  Honolulu, USA

            SouthernFinance Association Meetings, Baltimore, USA

1995     FinancialManagement Association International, New York, USA

1994     FinancialManagement Association International, St. Louis, USA

1993     SouthernFinance Association, Key West, USA (Co-author)

1992     FinancialManagement Association International, San Francisco, USA

            SouthernFinance Association, New Orleans, USA (Co-author)

            MidwestFinance Association, Chicago, USA

 

 

Invited Presentations

 

2003     MasseyUniversity, Palmerston North, New Zealand

            University of Melbourne, Melbourne, Australia

2001     Dalhousie University, NovaScotia, Canada

1996     Dalhousie University, NovaScotia, Canada

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