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Faculty Details
Rahul Kumar
Faculty
Contact Information
rahul_kumar@iimsambalpur.ac.in
Dr. Rahul Kumar is an Assistant Professor in the area of Accounting and Finance at the Indian Institute of Management Sambalpur. He holds a Ph.D. in Finance from IIM Ranchi, an MBA in Financial Management from Banaras Hindu University, and a B.Com (Hons.) from the University of Delhi. He is a UGC-NET JRF qualified scholar in both Management and Commerce.
With strong academic credentials and over 3 years of research and teaching experience, Dr. Kumar’s interests lie at the intersection of financial markets, corporate finance, ESG, market microstructure, and corporate restructuring. His research has been published in reputed international journals indexed in ABDC, Scopus, Web of Science, including Finance Research Letters, Journal of Economic Asymmetries, Current Issues in Tourism, Vision, Investment Management and Financial Innovations, Accounting Research Journal, and others.
He has developed and taught a wide range of courses, including Corporate Finance, Financial Management, Options and Derivatives, Advanced Financial Statement Analysis, and doctoral-level seminar courses in investments and financial markets. He regularly contributes as a resource person for Management Development Programs (MDPs) and technical workshops.
Dr. Kumar has received several prestigious recognitions, including the NSE Best Thesis Award in Financial Economics (2024), Best Paper Award at the SEBI-NISM Research Conference (2023), and multiple case writing awards from AIMA, IIPA, and other institutions. He has also authored several teaching case studies and technical notes published by Ivey/Harvard Business Publishing and Emerald Emerging Markets Case Studies.
He actively participates in leading international conferences and is a member of reputed academic bodies such as the British Accounting and Finance Association (BAFA), British Academy of Management (BAM), Indian Accounting Association (IAA), and Society for Financial Econometrics (SoFiE).
With strong academic credentials and over 3 years of research and teaching experience, Dr. Kumar’s interests lie at the intersection of financial markets, corporate finance, ESG, market microstructure, and corporate restructuring. His research has been published in reputed international journals indexed in ABDC, Scopus, Web of Science, including Finance Research Letters, Journal of Economic Asymmetries, Current Issues in Tourism, Vision, Investment Management and Financial Innovations, Accounting Research Journal, and others.
He has developed and taught a wide range of courses, including Corporate Finance, Financial Management, Options and Derivatives, Advanced Financial Statement Analysis, and doctoral-level seminar courses in investments and financial markets. He regularly contributes as a resource person for Management Development Programs (MDPs) and technical workshops.
Dr. Kumar has received several prestigious recognitions, including the NSE Best Thesis Award in Financial Economics (2024), Best Paper Award at the SEBI-NISM Research Conference (2023), and multiple case writing awards from AIMA, IIPA, and other institutions. He has also authored several teaching case studies and technical notes published by Ivey/Harvard Business Publishing and Emerald Emerging Markets Case Studies.
He actively participates in leading international conferences and is a member of reputed academic bodies such as the British Accounting and Finance Association (BAFA), British Academy of Management (BAM), Indian Accounting Association (IAA), and Society for Financial Econometrics (SoFiE).
i) Corporate Finance (Executive MBA)
ii) Financial Management (MBA)
iii) Advance Financial Statement Analysis (MBA)
iv) Options, Futures and Derivatives (MBA)
v) Financial Accounting (MBA)
vi) Seminar Course in Investments and Financial Markets (Doctoral Course)
ii) Financial Management (MBA)
iii) Advance Financial Statement Analysis (MBA)
iv) Options, Futures and Derivatives (MBA)
v) Financial Accounting (MBA)
vi) Seminar Course in Investments and Financial Markets (Doctoral Course)
Doctoral Research Supervision :
Research Papers :
Case Studies :
Technical Notes :
Book Chapters :
Book Chapters :
Conferences :
- Successfully supervised Dr. Umasis Tripathy (Ph.D. awarded in 2025), thesis titled “Three Essays on the Dynamics of SME Listing on Exchanges: An Indian Context”. He is currently serving as Associate Director at CRISIL Ltd.
Research Papers :
- Rahul Kumar and Prince Bhatia (2024). Deciphering the link: An empirical analysis of the interplay between economic value added and dividend payouts in the Indian corporate landscape. Investment Management and Financial Innovations, 21(4), 278-288. doi:10.21511/imfi.21(4).2024.22 (ABDC-B)
- Kumar, R., & Chakrabarti, P. (2024). Price impact of derivatives listing and delisting: Evidence from India. The Indian Economic Journal, 72(2), 353-371. (ABDC-B)
- Kumar, R., Bhatia, P., & Gupta, D. (2021). The impact of the COVID-19 outbreak on the Indian stock market–A sectoral analysis. Investment Management & Financial Innovations, 18(3), 334. (ABDC-B)
- Kumar, R., Pandey, D. K., & Goodell, J. W. (2023). Market reactions to layoff announcements during crises: Examining impacts and conditioners. Finance Research Letters, 58, 104423. (ABDC-A)
- Kumar, R., & Chakrabarti, P. (2025). Unveiling market dynamics: Assessing the impact of derivatives contract redesign on market quality. International Journal of Financial Engineering, 12(02), 2550001. (ABDC-C)
- Kumar, R., Bhatia, P., & Chattopadhyay, S. (2022). The impact of leverages and operating efficiency on market value added: Empirical evidence from India. Vision, 26(3), 351-360. (ABDC-C)
- Pandey, D. K., & Kumar, R. (2023). Russia-Ukraine War and the global tourism sector: A 13-day tale. Current Issues in Tourism, 26(5), 692-700. (ABDC-A)
- Gupta, D., Kumar, R., & Chattopadhyay, S. (2022). The impact of corporate spin-offs on shareholders’ wealth: Empirical evidence from India. Cogent Economics & Finance, 10(1), 2109277. (ABDC-B)
- Gupta, S., Vaishali, & Kumar, R. (2024). Which ownership structure will sustain sustainability? An empirical examination of ESG disclosure. International Journal of Disclosure and Governance, 1-17. (ABDC-B)
- Posti, L., Khare, R., & Kumar, R. (2023). Workplace sanitation and female labour force participation in the informal sector. Economics Bulletin, 43(3), 1411-1420. (ABDC-C)
- Kumari, V., Kumar, R., & Pandey, D. K. (2023). Restrictions on air travel to India and the global airline industry-An event study and cross-sectional approach. Asia Pacific Management Review, 28(2), 240-251. (ABDC-C)
- Srivastava, A., Assaf, R., Pandey, D. K., & Kumar, R. (2024). Stock price crash risk research: Current trends and future directions. The Journal of Risk Finance, 25(5), 723-750. (ABDC-B)
- Pandey, D. K., & Kumar, R. (2022). Lockdown, unlock, stock returns, and firm-specific characteristics: the Indian tourism sector during the Covid-19 outbreak. Current Issues in Tourism, 25(7), 1026-1032. (ABDC-A)
- Assaf, R., Gupta, D., & Kumar, R. (2023). The price of war: Effect of the Russia-Ukraine war on the global financial market. The Journal of Economic Asymmetries, 28, e00328. (ABDC-B)
- Pandey, D. K., Kumar, R., & Kumari, V. (2024). Glasgow climate pact and the global clean energy index constituent stocks. International Journal of Emerging Markets, 19(10), 2907-2927. (ABDC-B)
- Posti, L., Bhamoriya, V., Kumar, R., & Khare, R. (2024). How productive is liquid waste management practices in Indian informal micro, small and medium enterprises?. Management of Environmental Quality: An International Journal, 35(2), 314-340. (ABDC-C)
- Bhatia, P., & Kumar, R. (2024). Do debt, and operating efficiency contributes to corporate performance?. International Journal of System Assurance Engineering and Management, 15(3), 1203-1209. (Scopus-Q2)
- Bhatia, P., Kumar, R., Chattopadhyay, S., & Dubey, R. K. (2024). Economic value added and working capital efficiency linkages: an Indian context. Accounting Research Journal, 37(6), 557-573. (ABDC-B)
Case Studies :
- Gupta, S., & Kumar, R. (2024). Navigating the financial frontier: a case of investment decision-making in the wake of Reliance Industries Limited’s demerger. Emerald Emerging Markets Case Studies, 14(4), 1-24.
- Vedanta Limited: Strategic Restructuring to Tackle Conglomerate Discount” Ivey/ Harvard Business Publishing, 2024.
- Novel Jewels Limited: Diversifying the legacy of AB Group” Ivey/ Harvard Business Publishing, 2024.
- “Swimming with the Sharks: HPIL’s SME-to-Main Board Migration” Ivey/ Harvard Business Publishing, 2025.
- “The Dentist’s Dilemma: Employment vs. Entrepreneurship” Ivey/ Harvard Business Publishing, 2025.
- “Battery Smart: Navigating Financial Strategy” Ivey/ Harvard Business Publishing, 2025.
Technical Notes :
- “A Note on the Financial System of India” Ivey/ Harvard Business Publishing, 2025.
Book Chapters :
- Kumar, R., & Gupta, D. (2021). Analysis of the two-wheeler segment in the automobile industry: The resurgence of the scooters segment in India. In S. Mukherjee, R. Kumar, S. K. Dutta, F. Ahsan, & S. A. Dasgupta (Eds.), Strategic Management and Entrepreneurship: Contemporary Practices and Key Industry Insights (pp. 139–159). Indian Institute of Management Ranchi.
Book Chapters :
- NSE Best Thesis Award in Financial Economics, 107th Indian Economic Association Annual Conference, Kurukshetra University, India, December 2024.
- Best Paper Award (Young Researcher), Fourth SEBI-NISM Research Conference, National Institute of Securities Markets, Mumbai, March 2023.
- Best Presentation Award, International Conference on Energy and Infrastructure Management, Pandit Deen Dayal Petroleum University, Gandhinagar, February 2020.
- Second Best Case Award, Fourth AIMA-IRC Case Writing Competition and Conference, All India Management Association, New Delhi, May 2024.
- Silver Prize Award, Annual Decision Making/Teaching Case Study Competition, Indian Institute of Public Administration, New Delhi, September 2024.
- Certificate of Excellence Award, Fifth AIMA-IRC Case Writing Competition and Conference, All India Management Association, New Delhi, May 2025.
- Best Case Award (Research Scholars Track), Katastasi Annual Case Study Competition, Fortune Institute of International Business, New Delhi, October 2024.
- Certificate of Merit Award, Fifth AIMA-IRC Case Writing Competition and Conference, All India Management Association, New Delhi, May 2025.
- Third Best Case Award, Curious Case Competition, UPES Dehradun, March 2025.
- Best Case Award (Student Track), Katastasi Annual Case Study Competition, Fortune Institute of International Business, New Delhi, October 2024.
Conferences :
- Kumar, R. (2024, June). Can the implementation of physical settlement enhance market transparency? Perspectives from the Indian context. 2024 Second CoS Global Conference on Financial Resilience, College of Supervisors, Reserve Bank of India, India.
- Kumar, R. (2023, March). The role of the contract specification in market quality of the derivatives instruments: Evidence from India. 2023 4th SEBI-NISM Research Conference, India.
- Kumar, R. (2023, March). Vedanta Unveiled: A Six-Way Vertical Spinoff Redefining the Corporate Landscape. 2024 9th Pan-IIM World Management Conference, Indian Institute of Management Sambalpur, India.
- Kumar, R. (2024, January). Does the implementation of physical settlement enhance the informativeness of the market? Evidence from India. 2024 INDAM 2024 Conference, Goa Institute of Management, India.
- Kumar, R. (2023, December). Investigating the Impact of the Russia-Ukraine Conflict on Stock Returns in Different Sectors Across G20 Nations. 2023 ISDSI-Global Conference, Indian Institute of Management Ranchi.
- Kumar, R., & Gupta, D. (2022, August). Impact of Russian Invasion on Ukraine on the Global Financial Market. 2022 The British Academy of Management Doctoral Symposium, United Kingdom.
- Gupta, S., Vaishali., & Kumar, R. (2023, June). The Role of Ownership Structure in Determining Non-Financial Disclosure of Firms - A Multi-Country Study. 2023 35th Asian Finance Conference, Vietnam.
- Kumar, R., & Chakarbarti, P. (2022, April). Effect of Modification of Contract Size on the Market Quality. 2022 The British Accounting and Finance Association Annual Conference, United Kingdom.
- Kumar, R., & Kaur, R. (2021, October). A Comparative Study of US and Indian Equity Markets – An Analysis of Covid-19 Scenarios. 2021 1st International Conference “Frontiers in International Finance and Banking”, Russia.
- Ashraf, S.A., & Kumar, R. (2021, May). Examining the impact of FinTechs in extending capital access to MSMEs. 2021 International Conference on Information Resources Management (Conf-IRM 2021), Austria.
- Kumar, R., & Bhatia, P. (2021, November). Relationship between Indian Stock Market Index and Macroeconomic Variables. 2021 Rajagiri Conference on Economic and Finance, Rajagiri Business School (RBS) and Rajagiri College of Social Sciences (Autonomous) in association with The Indian Econometric Society (TIES) and Waikato Management School, University of Waikato, New Zealand.
- Bhatia, P., & Kumar, R. (2021, December). Do debt, and operating efficiency plays a valuable role in corporate performance?. 2021 21st Workshop on Accounting and Finance Research in Emerging Economies Programme, The British Accounting and Finance Association- Accounting and Finance in Emerging Economies (Special Interest Group), United Kingdom.
- Bhatia, P., & Kumar, R. (2021, December). Does debt and operating efficiency matter?. 2021 BRAWIJAYA International Conference on Business Economics and Finance, Faculty of Economics & Business Universitas Brawijaya, Indonesia (Online).
- Kumar, R., & Kumari, S. (2021, December). The Role of Contract Size in the Indian Derivatives Market. 2021 8th Pan-IIM World Management Conference on the theme Responsible Business for Sustainable Development, Indian Institute of Management Kozhikode, Kerala.
- Kumar, R., & Kumari, S. (2021, December). The Impact of Revision of Contract Size in Single Stock Futures in India. 2021 7th International Conference on Empirical Issues in International Trade and Finance, Indian Institute of Foreign Trade, Kolkata.
- Kumari, S., & Kumar, R. (2021, December). Willingness to Pay for Video Streaming Services. 2021 17th Doctoral Research Conference in Management (ANVESH), Institute of Management, Nirma University.
- Kumari, S., & Kumar, R. (2021, December). An Optimization Model for Capturing CO2 Emission from Power Plants. 2021 ISDSI-Global Conference, Indian Institute of Management Nagpur.
- Kumari, S., Bera, S., & Kumar, R. (2020, February). Operational & Financial Perspective of Carbon Capture & Storage. 2020 International Conference on Energy and Infrastructure Management, School of Petroleum Management, Pandit Deendayal Petroleum University, Gandhinagar.
- Bhatia, P., & Kumar, R. (2021, July). How operating efficiency and leverage impact firm profitability: In the context of Indian firms listed on BSE. 2021 First Virtual International Conference on Sustainable Finance, Economics & Accounting in The Pre- and Post-Pandemic Era, II Jammu, India.
- Kumar, R., Gupta, D., & Dutta, S.K. (2020, February). Analysis of the Two-wheeler segment in the Automobile Industry: The Resurgence of the Scooters segment in India. 2020 22nd Annual Convention of Strategic Management Forum (SMF 2020), IIM Ranchi, India.
Contributed as a resource person to multiple Management Development Programs and technical sessions.




