Vidhan K. Goyal
PhD, University of Pittsburgh
Chair Professor, Department of Finance
Tel (852) 2358 7678
Personal Home Page
AREAS OF EXPERTISE
Capital Structure, Corporate Governance, Bankruptcy, Debt Contracts, Emerging Markets
Professor Goyal’s research interests are in empirical corporate finance, with an emphasis on capital structure and corporate governance. He has received numerous research awards for his papers including the prestigious Jensen Prize for Best Paper in Corporate Finance and Citations of Excellence Award. His research has been published in the Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Business, Journal of Financial Intermediation, Finance Research Letters, Financial Management, Journal of Corporate Finance and the Pacific Basin Finance Journal.
Professor Goyal has also won 10 teaching awards including the Best MBA Core Teacher Award and the Michael Gale Medal for Distinguished Teaching, the highest honor awarded to a single faculty in the university.
Professor Goyal is a member of the American Finance Association, the Western Finance Association and the Beta Gamma Sigma. Before joining academics, Professor Goyal has worked for the First Leasing Company of India as its Corporate Treasurer.
SELECTED PAPERS & PUBLICATIONS
- Goyal, Vidhan K., and Wei Wang, 2013. Debt Maturity and Asymmetric Information: Evidence from Default Risk Changes. Journal of Financial and Quantitative Analysis 48, 789-817.
- Goyal, Vidhan K., Alessandro Nova, and Laura Zanetti, 2011, Capital Market Access and Financing of Private Firms, International Review of Finance 11, 155-179.
- Bae, Kee-Hong, and Vidhan K. Goyal, 2010. Corporate Governance and Stock Market Liberalization. Journal of Corporate Finance 16, 609-621 (lead article).
- Frank, Murray, and Vidhan K. Goyal, 2009. Capital structure decisions: Which factors are reliably important? Financial Management 38, 1-37 (lead article).
- Bae, Kee-Hong, and Vidhan K. Goyal, 2009. Creditor Rights, Enforcement and Bank Loans. Journal of Finance 64, 823-860.
- Frank, Murray, and Vidhan K. Goyal. 2008. Tradeoff and Pecking Order Theories of Debt. In Espen Eckbo (ed.) The Handbook of Empirical Corporate Finance, Elsevier Science, Chapter 12, 135-197.
- Fan, Joseph, and Vidhan K. Goyal, 2006. On the patterns and wealth effects of vertical mergers. Journal of Business 79, 877-902.
- Goyal, Vidhan K., 2005. Market discipline of bank risk: Evidence from subordinated debt contracts. Journal of Financial Intermediation 14, 318-350.
- Goyal, Vidhan K., and Takeshi Yamada. 2004. Asset price shocks, financial constraints, and investment: Evidence from Japan. Journal of Business 77, 175-199.
- Frank, Murray, and Vidhan K. Goyal, 2003. Testing the pecking order theory of capital structure. Journal of Financial Economics 67, 217-248.
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