Ravi Jagannathan
CME Group/John F. Sandner Chair of Finance
Co-Director, Financial Institutions and Markets Research Center
Dr. Ravi Jagannathan is the CME Group/John F. Sandner Chair of Finance at Northwestern University's Kellogg School of Management and Co-Director of the Financial Institutions and Markets Research Center at the Kellogg School (1997 - present). He has previously held positions as Piper Jaffray Professor of Finance (1993 - 1997) and Associate Professor of Finance (1989 - 1993) at the University of Minnesota's Carlson School of Management, Assistant Professor of finance at Northwestern University's Kellogg School (1983 - 1989), and as a Distinguished Visiting Professor at the Hong Kong University of Science and Technology (1994 - 1995), and has appointments as Special Terms professor at Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University (2012+) and the Indian School of Business (2012-2014) and the Area Leader for Finance, Economics, and Public Policy at the Indian School of Business (2014 - 2018).
Ravi received a Ph.D. in Financial Economics (1983) and an M.S. in Financial Economics (1981) from Carnegie Mellon University, an M.B.A. from the Indian Institute of Management at Ahmedabad (1972), and a B.E. in Mechanical Engineering from the University of Madras (1970). His Ph.D dissertation received the Alexander Henderson award for excellence in economics.
Ravi has served on the editorial boards of leading academic journals, and is a former executive editor of the Review of Financial Studies. He has served as a member of the Board of Directors of the American Finance Association and the Western Finance Association and is a past President of the Western Finance Association, the Society of Financial Studies, the Financial Intermediation Research Society, and the Society for Financial Econometrics. He is a research associate of the National Bureau of Economic Research, a fellow of the Society for Financial Econometrics, the Financial Management Association, and the American Finance Association.
Ravi's research interests include asset pricing, capital markets, portfolio performance appraisal, and financial institutions. His articles have appeared in leading academic journals, including the Journal of Political Economy, Journal of Financial Economics, Journal of Finance, and Review of Financial Studies and in several graduate level text books. He is recognized internationally for the Hansen-Jagannathan bound, Hansen-Jagannathan distance, TGARCH/GJR volatility model, the use of portfolio weight constraints in estimating large covariance matrices with precision, and the Conditional Capital Asset Pricing Model (Conditional CAPM). He received the 2014 Graham & Dodd, Murray, Greenwald Prize for Value Investing.
- Pricing of Financial Assets
- Financial Markets and Institutions
- and Portfolio Performance Evaluation.
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PhD, 1983, Financial Economics, Carnegie Mellon University
MS, 1981, Financial Economics, Carnegie Mellon University
MBA, 1972, Indian Institute of Management
BE, 1970, Mechanical Engineering, University of Madras -
Chicago Mercantile Exchange Distinguished Professor of Finance, Kellogg School of Management, Northwestern University, 1997-present
Special Term Professor, Shanghai Advanced Institute of Finance, 2012-2015
Special Term Professor, Indian School of Business, 2012-2014
Visiting Professor, Marshall School of Business, University of Southern California, 2006
Adjunct Professor of Finance, School of Business and Management, Hong Kong University of Science and Technology, 1998-2005
Visitng Professor, School of Business and Management, Hong Kong University of Science and Technology, 1994-1995
Piper Jaffray Professor of Finance, Carlson School of Management, University of Minnesota, 1993-1997
Adjunct Professor of Finance, Columbia Business School, Columbia University, 1992
Associate Professor, Carlson School of Management, University of Minnesota, 1989-1993
Visiting Assistant Professor, Carlson School of Management, University of Minnesota, 1986-1988
Assistant Professor, Kellogg School of Management, Northwestern University, 1983-1989 -
President, Society for Financial Econometrics, 2015-2017
Director, Financial Management Association, 2013-2015
President, Financial Intermediation Research Society, 2010-2011
Member, IASB, Expert Advisory Panel on “Fair value measurement of financial instruments when markets become distressed or illiquid", 2008
Member, Financial Economists Roundtable, 2008-present
Member, Executive Committee, Society for Financial Studies, 2005
President, Society for Financial Studies, 2002-2005
President, Western Finance Association, 2004-2005
Program Chair, Western Finance Association, 2004
Member, Option Valuation Group, FASB, 2003-2004
Vice President, Western Finance Association, 2003
Director, American Finance Association, 2002-2004
Vice President, Society for Financial Studies, 1999-2002
Member, Share-based Payment Advisory Group, IASB, 2002
Director, American Finance Association, 1998-2000
Director, Western Finance Association, 1997-2000
President, Society for Financial Studies, 2002-2005 -
Fellow, American Finance Association, Indefinite
Fellow, Financial Management Association
Graham & Dodd, Murray, Greenwald prize for Value Investing, GAMCO Asset Management and Columbia Business School
Alexander Henderson Award for excellence in economics
Fellow, Society for Financial Econometrics, 2012 -
Advisory Board, Quarterly Journal of Finance, 2011-present
Advisory Board, Journal of Investment Consulting, 2010-present
Editorial Board, Editorial Advisor, Journal of Investment Management, 2003
Associate Editor, Review of Quantitative Finance and Accounting, 1994-present
Advisory Board, Journal of Financial Econometrics, 2000-Present
Co-Editor, Journal of Financial Econometrics, 2008-2009
Associate Editor, Journal of Portfolio Management, 2004-2009
Department Editor, Department Editor of Finance, Management Science, 2001-2003
Executive Editor, Review of Financial Studies, 1996-1999
Associate Editor, Management Science, 1994-2001
Associate Editor, Journal of Finance, 1994-1996
Editor, Review of Financial Studies, 1994-1996
Associate Editor, Finance Letters, 2003-2009
Associate Editor, Financial Management, 1999-2009
Value Investing (FINC-444-0)
This course will introduce students to the traditional Graham, Dodd, and Buffett Value Investing framework as it has evolved over time (VI Framework). The framework explicitly takes into account the fact that for every security you decide to buy or sell there are other investors who take the opposite position and they may be right. As you will see in the course, the VI Framework as it stands today is suitable for making investment decisions involving growth stocks as well. The learning objectives are: (a) Develop an in depth understanding of the VI Framework. (b) Demonstrate your grasp of the VI Framework by applying it in your stock selection project. (c) Present the analysis in an organized manner and develop the ability to work in teams by defining individuals' roles and tasks and managing conflicts for successful completion of group projects. This is a lecture and case-based discussion course with group homework case assignments and a final group stock selection/evaluation project. The course will also have guest speakers from the industry.
Financial Decisions (FINC-442-0)
This course uses case studies to enhance the student's understanding of managerial financial decision making, specifically investment and financing decisions. Topics include short- and long-term financing, capital structure and dividend decisions, cost of capital, capital budgeting, firm valuation, financial and operational restructuring, and mergers and acquisitions. The course emphasizes the basic principles of corporate finance and is sufficiently general so as to be of interest to all students. The course provides students with the opportunity to apply the concepts and theories developed in other finance courses. At its most fundamental level, the course attempts to improve problem-solving skills: problem definition, gathering and organizing the relevant information, developing feasible alternative courses of action, evaluating alternative choices, and recommending and defending the best course of action.
