User:HRShami/Vijay Singal

Vijay Singal is an American researcher, educator and author. He is the J. Gray Ferguson Professor of Finance and Department Head of Finance at Pamplin College of Business, Virginia Tech.

Singal's research is focused on resolving corporate finance related issues and on studying anomalies in market efficiency and their causes. A significant part of his research deals with topics in International Finance: investments, emerging markets and currency exchange rates. In particular, he has studied how emerging markets get affected by liberalization of capital flows, how changes in exchange rates affect stock prices, and why forward exchange rates are biased.

Education
Singal was born and raised in India. He received his Bachelors of Technology in Chemical Engineering in 1975 from Indian Institute of Technology. He then joined Indian Institute of Management where he received his MBA in Finance in 1977. Subsequently, he joined Oil and Natural Gas Commission, Bombay and served there in various positions until 1987. In 1987, he moved to the United States and joined University of Michigan, completing his Ph.D. in Finance in 1992.

Career
After completing his Ph.D., Singal briefly taught at The University of Michigan. He later joined Virginia Tech in 1992 as Assistant Professor, becoming Associate Professor in 1998. In 2002, he was endowed the J. Gray Ferguson Chair of Finance at the institute. Singal served as Head of the Finance Department from 2003 to 2009 and was again appointed as the Department Head in 2014.

Singal was selected as a Fulbright Senior Specialist by Fulbright Commission. He visited Nepal in 2007 to support Kathmandu Engineering College in expanding expanding into business and in collaborating with a U.S. university. In 2008, he was elected to the Board of Directors of Sapient Corporation.

Research and work
Some of Singal's initial research dealt with mergers, specifically in the airline industry. He wrote multiple papers in this area including 'Mergers and Market Power: Evidence from the Airline Industry', which became one of his most cited work. Some of his research during the mid-90s dealt with the topic of stock markets. He studied the cases of open markets in emerging economics and whether they are useful for emerging economies. Towards, the late 1990s, his research in the airline industry began focusing on privatization.

His research in the stock markets continued well into the mid 2000s, with his work focusing on the January Effect, the December Effect, the relationship between exchange rates and stock prices and the impact short sellers on stock market. In 2006, he wrote the book Beyond The Random Walk: A Guide to Stock Market Anomalies and Low-risk Investing.

In the early 2010s, Singal's research began focusing on mutual funds. Some of his research has also dealt with the anomalies related to market efficiency.

Books

 * Beyond the Random Walk: A Guide to Market Anomalies and Low Risk Strategies (2004)

Selected articles

 * Kim, E., & Singal, V. (1993). Mergers and Market Power: Evidence from the Airline Industry. The American Economic Review 83 (3), 549-569.
 * Bosch, J. C., Eckard, E. W., & Singal, V. (1998). The Competitive Impact of Air Crashes: Stock Market Evidence. The Journal of Law and Economics, 41(2), 503–519.
 * Chen, H., & Singal, V. (2003). Role of Speculative Short Sales in Price Formation: The Case of the Weekend Effect. The Journal of Finance, 58(2), 685–705.
 * Chen, H., Noronha, G., & Singal, V. (2004). The Price Response to S&P 500 Index Additions and Deletions: Evidence of Asymmetry and a New Explanation. The Journal of Finance, 59(4), 1901–1930.
 * Chen, H., & Singal, V. (2004). All Things Considered, Taxes Drive The January Effect. Journal of Financial Research, 27(3), 351–372.
 * Chen, H., Noronha, G., & Singal, V. (2006). Index Changes and Losses to Index Fund Investors. Financial Analysts Journal, 62(4), 31–47.
 * Eckel, C., Eckel, D., & Singal, V. (1997). Privatization and efficiency: Industry effects of the sale of British Airways. Journal of Financial Economics, 43(2), 275–298.
 * Kim, E. H., & Singal, V. (2000). Stock Market Openings: Experience of Emerging Economies. The Journal of Business, 73(1), 25–66.
 * Pritamani, M., & Singal, V. (2001). Return predictability following large price changes and information releases. Journal of Banking & Finance, 25(4), 631–656.
 * Singal, V. (1996). Airline Mergers and Competition: An Integration of Stock and Product Price Effects. The Journal of Business, 69(2), 233.