Kumar Venkataraman

Kumar Venkataraman

Tenure and Tenure-Track Faculty

Professor, Maguire Chair in Energy Management
Academic Director, Maguire Energy Institute & Kyle Miller Energy Program

Finance Maguire Energy Institute

Email

kumar@smu.edu

Phone

214-768-7005

Office

Expressway Towers, 15th Floor, Maguire Energy Institute

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Education

PhD, Business Administration (Finance), Arizona State University

Biography

Kumar Venkataraman is a Professor of Finance and Maguire Chair in Energy Management at the Cox School of Business. He serves as Academic Director of the Maguire Energy Institute and the Kyle Miller Energy program. He has a Ph.D. in Finance from Arizona State University.

Professor Venkataraman was a member of the U.S. Securities and Exchange Commission’s (SEC) Fixed Income Market Structure Advisory Committee (FIMSAC) between 2017 and 2021. The Committee made several recommendations to improve the efficiency and resiliency of the U.S. fixed income markets. Notably, Kumar was named among “The Best 40 B-School Profs Under the Age of 40” in the 2011 Poets & Quants ranking of Business School professors.

He was the Chairman of the Finance Department between 2012 and 2015.

Venkataraman specializes in the area of market microstructure and writes about financial market design; evaluation of trading strategies; and functioning of equity, fixed income, and derivatives markets. His research has been published in top-tier academic journals and featured in industry publications and the business press, including Wall Street Journal, Barrons, Financial Times, The Economist and Bloomberg News. 

He holds an appointment as a visiting economist at the Financial Industry Regulatory Authority (FINRA). He works on consulting and expert witness engagements and his consulting clients include, among others, the U.S. Department of Justice and the U.S. Commodity Futures Trading Commission (CFTC). His research is frequently referenced by global central bankers and regulators and cited in regulatory filings on market design initiatives.

 

Teaching

Investments
Energy Finance

Research

Market Microstructure
Institutional Trading Strategies

Publications

 Overallocations and Secondary Market Outcomes in Corporate Bond Offerings, Journal of Financial Economics, 2022, Vol. 146, 444-474 (with Hank Bessembinder, Stacey Jacobsen, and Bill Maxwell).

Institutional Order Handling and Broker-Affiliated Trading Venues, Review of Financial Studies, 2021, Vol. 34 (7), 3364-3402 (with Amber Anand, Jonathan Sokobin and Mehrdad Samadi). 

Mutual Funds Trading Style and Bond Market Fragility, Review of Financial Studies, 2021, Vol. 34 (6), 2993-3044 (with Amber Anand and Pab Jotikasthira). 

A Survey of the Microstructure of Fixed Income Markets, Journal of Financial and Quantitative Analysis, 2020, Vol. 55 (1), 1-45 (with Hank Bessembinder and Chester Spatt).

Capital Commitment, and Illiquidity in Corporate Bonds, Journal of Finance, 2018, Vol. LXXIII, No. 4, 1615-1661 (with Hank Bessembinder, Stacey Jacobsen, and Bill Maxwell). 

Informed Trading and Price Discovery before Corporate Events, Journal of Financial Economics, 2017, Volume 125, 561-588 (with Shmuel Baruch and Marios Panayides). 

Market Conditions, Fragility and the Economics of Market Making, Journal of Financial Economics, 2016, Volume 121 (2), 327-349 (with Amber Anand).

Liquidity, Resiliency and Market Quality around Predictable Trades: Theory and Evidence, Journal of Financial Economics, 2016. Volume 121 (1), 142-166. (with Hank Bessembinder, Al Carrion, and Laura Tuttle). 

Institutional Trading and Stock Resiliency: Evidence from the 2007-09 financial crisis. Journal of Financial Economics, 2013. 108, 773-797. (with Amber Anand, Paul Irvine, and Andy Puckett).

Does Earnings Quality affect Information Asymmetry? Evidence from Trading Costs, Contemporary Accounting Review, 2013, Vol. 30 (2), 482-516. (with Neil Bhattacharya and Hemang Desai).

Performance of Institutional Trading Desks: An Analysis of Persistence in Trading Cost, Review of Financial Studies, 2012, Vol. 2 (25), 557-598. (with Amber Anand, Paul Irvine and Andy Puckett).