Biography
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Dr. Dev Mishra received his Ph.D. in Finance from the University of Connecticut , MBA (Finance) from Kelly School of Business at Indiana University - Bloomington, MBA (Marketing) from Tribhuvan University - Kathmandu. Dr. Mishra teaches International Finance and Corporate Finance. Prior to joining the University of Saskatchewan, Dr. Mishra was a faculty member at Memorial University of Newfoundland, and Tribhuvan University - Kathmandu, Nepal.
Dr. Mishra’s research interests are primarily in corporate finance and international corporate finance. His research has been published in both academic and practitioner journals, such as Journal of International Business Studies, Journal of Corporate Finance, Financial Management, Journal of Banking and Finance, Journal of Empirical Finance, The Financial Review, Journal of Business Ethics, Quarterly Journal of Business and Economics, Journal of Applied Finance, International Review of Finance, Corporate Governance: An International Review, Canadian Journal of Administrative Sciences, Emerging Markets Review,International Review of Economics and Finance, Review of Quantitative Finance and Accounting, Journal of Economics and Business, and Journal of Economics and Finance. In addition, he presented over five dozen referred conference papers, discussed several conference papers, and chaired several conference sessions. Dr. Mishra has been very active in the academic circle, have worked in the program committee in different capacity of the conferences like, Financial Management Association, Academy of International Business, Financial Management Association European meeting, Eastern Finance Association, Northern Finance Association, and Management Futures Conference. He is also a recipient of the Best International Paper award at Eastern Finance Association (2007), Finalist for the Temple/AIB Best Paper Award (2007). He is also the recipient of the Dean’s Award for Outstanding Research Achievement in 2012 at the Edwards School of Business and a winner of the 2011 Moskowitz Prize for Socially Responsible Investing (SRI) awarded by the Center for Responsible Business at Hass School of Business, University of California Berkeley.
Dr. Mishra's current research is best described by these key words: corporate finance, corporate governance, corporate social responsibility, ownership structures, CEO Ability, mergers & acquisitions, implied cost of capital, corporate innovations, corporate risk taking and international corporate finance. Dr. Mishra holds membership in professional organizations, like Financial Management Association, American Finance Association, American Accounting Association, Academy of International Business, Northern Finance Association, Eastern Finance Association, and Management Association of Nepal.
Publications
Mishra, D., 2024. Risk-taking incentives and risk-talking outcomes. Journal of Banking & Finance (Accepted Dec 2023). https://doi.org/10.1111/corg.12556
Free full copy (Until Feb 25, 2024) https://authors.elsevier.com/a/1iNeb1M2rGS0Y1
Mishra, D., 2023. Chief executive officer private firm experience and idiosyncratic risk. Corporate Governance: An International Review (Accepted Sep 2023). https://doi.org/10.1111/corg.12556
Mishra, D., 2023. Firm-level political risk and implied cost of equity capital. International Review of Finance (Accepted Jan 2023). http://doi.org/10.1111/irfi.12411
Boubakri, N., J-C. Cosset, D. Mishra, & H. Somé, 2023. The value of risk-taking in mergers: Role of ownership and country legal institutions. Journal of Empirical Finance 70, 427- 444. https://doi.org/10.1016/j.jempfin.2022.12.015
SSRN: https://ssrn.com/abstract=2817585
Hegde, S. & D. Mishra, 2023. Patented Knowledge Capital and Implied Equity Risk Premium. Journal of Banking & Finance 148, 106738 (Accepted Nov 2022). DOI: https://doi.org/10.1016/j.jbankfin.2022.106738
SSRN: http://ssrn.com/abstract=2385062
Mamun, A., D. Mishra & L. Zhan, 2021. The value of intangible capital transfer in mergers. Journal of Economics and Business 117, 106020. https://doi.org/10.1016/j.jeconbus.2021.106020
Mishra, D. 2021. Charitable inclination and the chief executive officer’s pay package. The Financial Review 56, 85–108. https://doi.org/10.1111/fire.12241
Hegde, S. & D. Mishra, 2019. Married CEOs and corporate social responsibility. Journal of Corporate Finance 58, 226-246. https://doi.org/10.1016/j.jcorpfin.2019.05.003
SSRN:https://ssrn.com/abstract=3055306
https://phys.org/news/2019-09-ceos-committed-social-issues-non-married.html
https://today.uconn.edu/2019/09/married-ceos-committed-social-issues-non-married-peers/
Mishra, D. & T. O' Brien, 2019. Fama-French, CAPM, and Implied Cost of Equity. Journal of Economics and Business 101, 73-85. https://doi.org/10.1016/j.jeconbus.2018.08.002
SSRN: http://ssrn.com/abstract=2183118
Aggarwal, R., D. Mishra & C. Wilson, 2018. Analyst Recommendations and the Implied Cost of Equity. Review of Quantitative Finance and Accounting 50, 717–743.
https://doi.org/10.1007/s11156-017-0644-y
Hegde, S. & D. Mishra, 2017. Strategic Risk-Taking and Value Creation: Evidence from the Market for Corporate Control. International Review of Economics & Finance 48, 212–234. https://doi.org/10.1016/j.iref.2016.12.010
SSRN: https://ssrn.com/abstract=1986089
https://doi.org/10.1016/j.iref.2016.12.010
Boubakri, N., J-C. Cosset, & D. Mishra, 2017. Large Shareholders and Target Returns: International Evidence , in Kose John , Anil K. Makhija , Stephen P. Ferris (ed.) Global Corporate Governance (Advances in Financial Economics, Volume 19) Emerald Publishing Limited,, 103 – 145. https://doi.org/10.1108/S1569-373220160000019005
Mishra, D., 2017. Post-Innovation CSR Performance and Market Value. Journal of Business Ethics 140, 285–306.
SSRN: http://ssrn.com/abstract=2597882
SPRINGER: http://link.springer.com/article/10.1007/s10551-015-2676-3
Mishra, D., 2014. The Dark Side of CEO Ability: CEO General Managerial Skills and Cost of Equity Capital. Journal of Corporate Finance 29, 390-409. https://doi.org/10.1016/j.jcorpfin.2014.10.003
SSRN: http://ssrn.com/abstract=2464705
Featured in CFA Digest, 45 (5), May 2015: http://www.cfapubs.org/doi/full/10.2469/dig.v45.n5.7
Featured in Academy of Management Perspectives Research Briefs
(see DOI: 10.5465/amp.2015.0038) http://aom.org/amp/researchbriefs/
Bardos, K. & D. Mishra, 2014. Financial Restatements, Litigation and Implied Cost of Equity. Applied Financial Economics 24 (1), 51-71. https://doi.org/10.1080/09603107.2013.864033
SSRN: https://ssrn.com/abstract=3512967
Mamun, A. & D. Mishra, 2012. Industry Merger Intensity and Cost of Capital. International Review of Finance 12, 469-490. https://doi.org/10.1111/j.1468-2443.2012.01157.x
Boubakri, N., O. Guedhami, D. Mishra & W. Saffar, 2012. Political Connections and Cost of Equity Capital. Journal of Corporate Finance 18, 541–559. https://doi.org/10.1016/j.jcorpfin.2012.02.005
SSRN: http://ssrn.com/abstract=1589688
Has been selected as the winning paper in 2015 Emerald Citations of Excellence.
Dolde, W., C. Giaccotto, D. Mishra & T. O’Brien, 2012. Should Managers Estimate Cost of Equity Using a Two-Factor International CAPM? Managerial Finance 8, 708-728. (submitted by invitation).
SSRN: http://ssrn.com/abstract=1635838
Mishra, D., 2011. Multiple Large Shareholders and Corporate Risk Taking: Evidence from East Asia. Corporate Governance: An International Review 19, 507-528. https://doi.org/10.1111/j.1467-8683.2011.00862.x
Wiley: http://onlinelibrary.wiley.com/doi/10.1111/j.1467-8683.2011.00862.x/abstract
El Ghoul, S., O. Guedhami, C. Kwok & D. Mishra, 2011. Does Corporate Social Responsibility Affect the Cost of Capital? Journal of Banking & Finance 35, 2388–2406. https://doi.org/10.1016/j.jbankfin.2011.02.007SSRN: http://ssrn.com/abstract=1546755
Featured in the September 2010 issue of IR Digest at United Nations Principles of Responsible Investing (http://academic.unpri.org/)
Winner of 2011 Moskowitz Prize for Socially Responsible Investing from the Center for Responsible Business at the Haas School of Business, University of California Berkeley.
http://www2.haas.berkeley.edu/News/Newsroom/2010-2011/111010moskowitzprize.aspx
http://www.sriintherockies.com/industryAwards/MoskowitzPrize.jsp
Media Coverage:
http://corpgov.proxyexchange.org/2011/10/higher-csr-linked-to-lower-cost-of-capital/
The Globe and Mail (online), Oct 6, 2011.
Pensions and Investments, Oct 4, 2011.
Columbia Regional Business Report, Oct 13, 2011.
Most Cited JBF articles published since 2010.
http://www.journals.elsevier.com/journal-of-banking-and-finance/most-cited-articles/
Most Cited Journal of Banking & Finance articles published since 2011 (# 1 as of Feb 1, 2016)
Mishra, D., M. Racine & L. Schmidt, 2011. Credibility of Corporate Announcements and Market Reaction. Canadian Journal of Administrative Sciences 28, 83-100.
SSRN: http://ssrn.com/abstract=972632
The Globe and Mail May 16:
Dolde, W., C. Giaccotto, D. Mishra & T. O’Brien, 2011. Foreign Exchange Exposure and Cost of Equity for U.S. Companies: Local versus Global CAPM. Journal of Applied Finance 21, 78-86.
SSRN: http://ssrn.com/abstract=1505975
Boubakri, N., O. Guedhami & D. Mishra, 2010. Family control and the implied cost of equity: Evidence before and after the Asian financial crisis. Journal of International Business Studies 41, 451–474. https://doi.org/10.1057/jibs.2009.77
IDEAS: http://ideas.repec.org/e/pmi149.html
Mishra, D. & G. Tannous, 2010. Securities Laws in the Host Countries and the Capital Structure of US Multinationals. International Review of Economics & Finance 19, 483–500. https://doi.org/10.1016/j.iref.2009.10.013
IDEAS: http://ideas.repec.org/e/pmi149.html
Komlenovic, S., A. Mamun & D. Mishra, 2011. Business Cycle and Aggregate Industry Mergers Activity. Journal of Economics & Finance 35, 239-259. https://doi.org/10.1007/s12197-009-9098-y
IDEAS: http://ideas.repec.org/e/pmi149.html
Guedhami, O. & D. Mishra, 2009. Excess Control, Corporate Governance, and Implied Cost of Capital: An International Evidence. The Financial Review 44, 489-524. https://doi.org/10.1111/j.1540-6288.2009.00227.x
Recipient of the Best International Paper Award at EFA (2007).
Finalist for the Temple/AIB Award at AIB (2007)
SSRN: http://ssrn.com/abstract=1488495
IDEAS: http://ideas.repec.org/e/pmi149.html
Attig, N., O. Guedhami & D. Mishra, 2008. Multiple Large Shareholders, Control Contests, and Implied Cost of Equity. Journal of Corporate Finance 14, 721-737. https://doi.org/10.1016/j.jcorpfin.2008.08.008
SSRN: http://ssrn.com/abstract=1282129
IDEAS: http://ideas.repec.org/e/pmi149.html
Faseruk, A. & Mishra, 2008. An Examination of US Dollar Risk Management by Canadian Non-Financial Firms. Management Research News, 31, 570-582.
Dolde, W. & Mishra, 2007. Firm Complexity and Foreign Exchange Derivatives Use. Quarterly Journal of Business & Economics 46, 3-22.
SSRN: http://ssrn.com/abstract=302813
IDEAS: http://ideas.repec.org/e/pmi149.html
Mishra D. & T. O’Brien, 2005. Risk and Ex-Ante Cost of Equity Estimates of Emerging Market Firms. Emerging Markets Review 6 107-120.
SSRN: http://ssrn.com/abstract=570721
IDEAS: http://ideas.repec.org/e/pmi149.html
Harris R., F. Marston, Mishra & T. O’Brien, 2003. Ex-ante Cost of Equity Estimates of S&P 500 Firms: The Choice between Domestic and Global CAPM. Financial Management 32, 51-66.
SSRN: http://ssrn.com/abstract=322680
IDEAS: http://ideas.repec.org/e/pmi149.html
Standard & Poor’s Cost of Capital Report: http://www2.standardandpoors.com/spf/pdf/products/GCC_4q_2003.pdf
Mishra D. & T. O’Brien, 2001. A Comparison of Cost of Equity Estimates of Local and Global CAPMs. The Financial Review 36, 27–48.