Dr Deven Bathia

Profile

Biography:

Dr Deven Bathia is a Senior Lecturer in Finance at the Queen Mary University of London. He holds a PhD in Finance from the UCD, Michael Smurfit Graduate Business School, Ireland, and an MBA from Fordham University, Gabelli School of Business, USA. Before joining academia, Deven worked in various accounting and investment management capacities for over seven years. Deven’s research interests lie primarily in behavioural finance, investments, governance and international finance, with a particular interest in investor sentiment, capital flows and board composition. He is a co-director of the Finance Research Cluster. He is also a member of the Behavioural Finance Working Group (BFWG) and the Centre for Globalisation Research (CGR).

Teaching

Undergraduate:

• BUS306: Financial Management

Postgraduate: 

• BUSM115: International Finance

Deven is a Fellow of the Higher Education Academy.

Research

Research Interests:

My research interests lie primarily in the fields of behavioural finance, investments, governance and international finance, with a special interest in investor sentiment, capital flows and board composition. My research explores the asset pricing implications of various investor sentiment measures. Currently, I am working on several topics including exploring the determinants of capital flows as well as its effect on emerging stock market returns and volatility, the significance of monetary policy shocks on capital flows, and the role of various governance measures in affecting firm performances.

Centre and Group Membership:

• Member of the Centre for Globalisation Research (CGR)
• Member of the Behavioural Finance Working Group

Publications

Journal articles

• Does derivative usage boost firm value in an economy with controls? Evidence from India (with Praveen Gupta and Sushanta Mallick), Review of Quantitative Finance and Accounting (forthcoming).
• Cross-border capital flows and information spillovers across the equity and currency markets in emerging economies (with Riza Demirer, Roman Ferrer, Ibrahim Raheem), Journal of International Money and Finance, 139, 102948, December 2023.
• Investor sentiment connectedness: Evidence from Linear and Nonlinear Causality Approaches (with Aviral Tiwari, Elie Bouri and Rangan Gupta) Annals of Financial Economics, 16(4), 2150016, December 2021.
• Unemployment fluctuations and currency returns in the United Kingdom: Evidence from over one and a half-century of data (with Riza Demirer, Rangan Gupta and Kevin Kotze), Journal of Multinational Financial Management, 61, 100679, September 2021.
• Credit Ratings and Predictability of Stock Return Dynamics of the BRICS and the PIIGS: Evidence from a Nonparametric Causality-in-Quantiles Approach (with Mehmet Balcilar, Riza Demirer and Rangan Gupta). The Quarterly Review of Economics and Finance, 79, 290-302, February 2021.
• Cross-Border Capital Flows and Return Dynamics in Emerging Stock Markets: Relative Roles of Equity and Debt Flows (with Christos Bouras, Riza Demirer and Rangan Gupta). Journal of International Money and Finance,109, 102258, December 2020.
• Investor Sentiment: Does it augment the performance of asset pricing models? (with Don Bredin), International Review of Financial Analysis, 290-303, October 2018.
• International sentiment spillovers in equity returns (with Don Bredin and Dirk Nitzsche), International Journal of Finance and Economics,21(4), 332-359, February 2016.
• An examination of investor sentiment effect in G7 stock market returns (with Don Bredin) European Journal of Finance, 19(9), 909-937, October 2013.

Book chapter

• An examination of investor sentiment effect on G7 stock market returns (with Don Bredin), Contemporary Issues in Financial Institutions and Markets, Vol. 2: 99-127, 2015.

Supervision

Current Doctoral Students: 

• Fatima Ali - Pandemic and Global Market Contagion (joint with Gulnur Muradoglu)
• Han Fan - Fund awards and behavioural bias (joint with Gulnur Muradoglu)

PhD Supervision Completions:

• Shafaq Malik - R&D and Firm Performance: Assessing the Role of Leverage and Intra-Industrial Proximity (joint with Gulnur Muradoglu), currently working at Aston University
• Rukaiyat Yusuf - Executive Compensation, Strategic Risk, and Financial Performance: Evidence from the UK Listed Firms (joint with Gulnur Muradoglu), currently working at the University of Huddersfield
• Jiaxin Wang - Ownership Structure and Firm Performance: An Empirical Analysis of the Listed Firms in China (joint with Gulnur Muradoglu), placed at Industrial and Commercial Bank of China
• Praveen Gupta - Value of derivative usage for non-financial and financial firms in India: the role of financial leverage and funding type (joint with Sushanta Mallick), currently working at the University of Oxford

Public Engagement

Deven is an Associate Editor of the Review of Behavioural Finance journal. He has frequently contributed to various international conferences, including the Financial Management Association, European Financial Management Association, Eastern Finance Association, British Accounting and Finance Association, Behavioural Finance Working Group Conference, and Infiniti Conference. Deven has published his research in various finance journals, including the Journal of International Money and Finance, the International Review of Financial Analysis and the European Journal of Finance.