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University of Delaware - Alfred Lerner College of Business & Economics

Raj Varma

Photograph Image of Raj Varma
Title Professor of Finance
Email varma@nospam5ece903bbd169.udel.edu
Office 308 Purnell Hall
Biography

Biography

Dr. Raj Varma is a professor of finance at the University of Delaware. Dr. Varma received his Ph.D. from the Pennsylvania State University. He has also served as a visiting associate professor at the Wharton School of the University of Pennsylvania.

Professor Varma has taught corporate finance at various levels in the undergraduate, graduate and executive education programs at the University of Delaware. He has been the recipient of excellence-in-teaching awards and honors more than ten times at the University of Delaware and has also been recognized for exemplary performance as a professor at the University of Delaware.

Professor Varma’s research interests include raising capital, financial institutions, and corporate governance & control. He has published numerous articles in several leading finance journals including three the Journal of Financial Economics. Dr. Varma has been ranked in the Top 2.3% of the 17,601 authors who have published in 26 core finance journals from 1959 to 2008, a five-decade period which substantially encompasses the maturation period of the finance discipline. He is also the lead contributor for the University of Delaware’s rank among all institutes worldwide with regard to the weighted number of pages published by an institute’s faculty in the ‘Top 3’ journals in finance during the period 1990 to 2001.

Professor Varma has assisted with expert opinion testimony on a number of occasions for lawsuits in the areas of corporate governance and control and his articles in these and other areas have been cited frequently in various academic and popular publications. Dr. Varma’s research findings have been covered by a variety of media, including in the print media, the Wall Street JournalBusiness WeekForbesChristian Science Monitor, Accounting Today, CFA Digest, and CFO, the Magazine for Senior Financial Executives; and in the electronic media Reuters, Business Wire, CFO.com, Dow Jones Newswires and Associated Press Online.

Select Publications

  • “Managerial Autonomy, Disagreement and Investment Policy: Evidence from the Movie Industry, Global Economy and Finance Journal, Volume 9, 2016, 11-26.
  • “Comparing the Investment Behavior of Diversified Versus Focused Firms: Insights from the Movie Industry,” Global Review of Accounting and Finance, Volume 6, 2015, 141-153.
  • “Do Socially Harmful Projects Distort Investment Efficiency? Evidence from Very Violent Movie Projects,” (with Wayne McMullen), Journal of Accounting, Finance and Economics, Volume 4, 2014, 1-15 (lead article).
  • “Consequences of Overvalued Equity: Evidence from Earnings Manipulation,” (with Dalia Marciukaityte),  Journal of Corporate Finance, Volume 14, 2008, 418-430.
  • “Board Composition and Corporate Fraud,” (with Samuel Szewczyk and Hatice Uzun) Financial Analysts Journal, Volume 60, 2004, pp. 33-43.
  • “Closed-End versus Open-end: The Choice of Organizational “Closed-End versus Open-end: The Choice of Organizational Form,” (with Daniel N. Deli) Journal of Corporate Finance, Volume 8, 2002, pp.1-27 (lead article).
  • “Contracting in the Investment Management Industry: Evidence from Mutual Funds,” (with Daniel N. Deli) Journal of Financial Economics, Volume 63, 2002, pp. 79-98.
  • “On the Integration of International Capital Markets: Evidence from Euroequity Offerings,” (with Wayne Marr and John Trimble), Financial Management, Volume 20, 1991, pp.11-21 (lead article).
  • “An Analysis of Exchangeable Debt Offers,” (with Chinmoy Ghosh and J. Randall Woolridge), Journal of Financial Economics, Volume 28, 1990, pp. 251-263.
  • “The Role of Financial Innovation in Raising Capital: Evidence from Deep Discount Debt Offers,” (with Donald Chambers), Journal of Financial Economics, Volume 26, 1990, pp. 289-298.

Awards & Honors

  • Keynote Speaker, “World’s Wealthiest Shareholders,” at the Global Business, Economics and Finance Research Conference, 2011
  • Outstanding Scholar Award for Sustained Record of Exceptional Scholarship in Finance and Corporate Governance, University of Delaware, 2010
  • Executive MBA Teaching Excellence Award in Appreciation of Outstanding Contributions to Learning, University of Delaware, 2009, 2008, 2007
  • Ranked 414 (or in the Top 2.3%) of the 17,601 authors that have published in 26 core finance journals from 1959 to 2008, a five-decade period which substantially encompasses the maturation period of the finance discipline, based on research released to the Social Sciences Research Network, 2009
  • Executive MBA Teaching Excellence Honorable Mention Award in Appreciation of Outstanding Contributions to Teaching, University of Delaware, 2003, 2001, 2000, 1999, 1997
  • Ranked in the list of ‘Top 1000’ faculty worldwide with regard to the weighted number of pages published by an institute’s faculty in 16 core finance journals in finance during the period 1990 to 2001, based on research published in Financial Management, 2002
  • Outstanding Graduate Teaching Award, College of Business & Economics, University of Delaware, 1997
  • Outstanding Paper in Financial Institutions Award, Eastern Finance Association Meeting, 1997
  • Outstanding Teaching Award, Department of Finance, University of Delaware, 1993
  • Outstanding Resident Student Support Award for Exemplary Performance as a Professor at the University of Delaware, 1988