Sayantan Kundu

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Sayantan Kundu

Education : BTech in Computer Engineering (University of Kalyani), MBA (VGSOM, IIT Kharagpur), Fellow of IIM Calcutta (Finance and Control)

Specialization : Finance

Area of Interest : Capital Markets, Asset Pricing, Corporate Finance, Decision Sciences, and Risk Management.

Designation : Assistant Professor

Contact: +91-9830213098

Email: s.kundu@imi-k.edu.in

About Sayantan Kundu

Dr. Sayantan Kundu is an Assistant Professor of finance at the International Management Institute, Kolkata. After graduating in Computer Engineering, he worked for Tata Consultancy Services Ltd. He obtained his MBA degree from the Indian Institute of Technology, Kharagpur in 2008 and thereafter worked in Wipro Technologies and IBM India as an ERP consultant. Sayantan has four years of experience in IT consulting. He is a fellow of the Indian Institute of Management Calcutta (PhD) in the area of Finance and Control with minors in Operations. Post PhD, Sayantan taught at Calcutta Business School, Indian Institute of Management Ranchi, Xavier Business School Kolkata, and Praxis Business School before joining IMI Kolkata. He has a total of 8 years of teaching experience. His research interests lie in Capital Markets, Asset Pricing, Corporate Finance, Decision Sciences, and Risk Management. Sayantan has published more than fourteen research papers in reputed international journals. He teaches Portfolio Management, Mergers and Acquisitions, Financial Modelling and Analytics, Investment Banking, and Wealth Management and Alternative Investments at IMI Kolkata. Earlier, he taught Derivatives, Financial Risk Management and Financial Econometrics at IIM Ranchi and Project Management and Finance at Praxis Business School. He also conducted Management Development Programmes at IIM Ranchi and IMI Kolkata and Faculty Development Programs at Praxis Business School and IMI Kolkata

  • Kundu, S., & Banerjee, A. (2024). Operational Efficiency and Malmquist Productivity of Indian Banks: A Comparison Between Public and Private Sector Banks. Management and Labour Studies, In Press. https://doi.org/10.1177/0258042X241282753. ISSN: 0258-042X [Scopus, ABDC-C]
  • Majumdar, S., Kundu, S., Bose, S., & Chandra, A. (2024). Network Nexus: exploring the impact of alumni connections of managers on mutual fund performance in India. Asia-Pacific Financial Markets, 31(4), 889-923. https://doi.org/10.1007/s10690-023-09435-6. ISSN: 1387-2834 [Scopus, ABDC-C, WoS]
  • Kundu, S. and Banerjee, A. (2024), “Efficiency of Financial Production Process and its Dependence on Price Anchors: Evidence from India”, IIMB Management Review, Vol. 36 No. 1, pp. 56-70. https://doi.org/10.1016/j.iimb.2024.02.003. ISSN: 0970-3896, [Scopus, ABDC-B, WoS]
  • Satender Pal Singh, Arnab Adhikari, Ashish Kumar Jha, Amit Sachan, Sayantan Kundu, (2023), Fairness-concerned greening and pricing strategies under competitions and different channel leaderships, Industrial Marketing Management, Vol. 115, pp484-509, https://doi.org/10.1016/j.indmarman.2023.11.001. ISSN 0019-8501 [Scopus, ABDC-A*, WoS]
  • Banerjee, A. and Kundu, S. (2023), “Does Public Sentiment Impact Stock Price Movements? Evidence from India”, Journal of Emerging Market Finance, Vol. 23, No. 1, https://doi.org/10.1177/09726527231196719. ISSN: 0972-6527 [Scopus, ABDC-B, WoS]
  • Kundu, S. and A Banerjee, A. (2023), “Diplomatic Associations and Exchange Rates: A Study on Russia-Ukraine War”, Indian Journal of Finance, Vol. 17, No. 3, pp8-19. DOI: https://doi.org/10.17010/ijf/2023/v17i3/172669. ISSN: 0973 – 8711 [Scopus, ABDC-C]
  • Kalia, D., Basu, D. and Kundu, S. (2023), “Board characteristics and demand for audit quality: a meta-analysis”, Asian Review of Accounting, Vol. 31 No. 1, pp. 153-175. https://doi.org/10.1108/ARA-05-2022-0121. ISSN: 1321-7348, [Scopus, ABDC-B, WoS]
  • Kundu, S., Quddus, K., Sharma, N. J. (2022), “Does halo effect of innovative firms moderate the impact of working capital efficiency on firm value? Evidence from India”, Cogent Economics & Finance, Vol. 10, No. 1, pp. 2068240, https://doi.org/10.1080/23322039.2022.2068240, Online ISSN: 2332-2039 [Scopus, ABDC-B, WoS]
  • Kundu, S., Banerjee, A., and Nandy, A. (2021), “Repercussions of COVID-19: Is the Indian Economy Setting up for a perfect crisis?”, Journal of Tianjin University Science and Technology, Vol. 54, No. 12 (Special Issue Dec 2021, Emerging Paradigm of Management), DOI: https://doi.org/10.17605/OSF.IO/5K7U2, ISSN (Online): 0493-2137 [Scopus]
  • Nandy, A., Tiwari, C., and Kundu, S. (2021), “India’s Rural Employment Guarantee Scheme – How does it influence seasonal rural out-migration decisions?”, Journal of Policy Modeling, Vol. 43, No. 6, pp. 1181-1203, https://doi.org/10.1016/j.jpolmod.2021.09.001, ISSN: 0161-8938 [Scopus, ABDC-A, WoS]
  • Kundu, S., Banerjee, A. (2021), “Does Twitter Activity Proxy for Idiosyncratic Information? Evidence from the Indian Stock Market”, Indian Journal of Finance, Vol. 15, No. 8, August 2021, pp. 8-23, https://doi.org/10.17010/ijf/2021/v15i8/165815, ISSN: 0973 – 8711 [Scopus, ABDC-C]
  • Kundu, S. and Banerjee, A. (2021), “Predictability of Earnings and its Impact on Stock Returns: Evidence from India”, Cogent Economics and Finance, Vol. 9 No. 1, DoI: https://doi.org/10.1080/23322039.2021.1898112, Online ISSN: 2332-2039 [Scopus, ABDC-B, WoS]
  • Kundu, S. and Banerjee, A. (2021), “Operational and policy efficiency: a comparison between public and private Indian banks”, International Journal of Productivity and Performance Management, Vol. 71 No. 4, pp. 1537-1558. https://doi.org/10.1108/IJPPM-06-2020-0322, ISSN: 1741-0401 [Scopus, ABDC-B, WoS]
  • Banerjee, A., Kundu, S. and Sivasankaran, N. (2021), “Asymmetric Impact of Working Capital Efficiency on Market Performance of Indian Firms”. Global Business Review, Vol. 25 No. 3, pp.705-723. https://doi.org/10.1177/0972150920988648, ISSN: 0972-1509 [Scopus, ABDC-C, WoS]
  • Nandy, A., Tiwari, C. and Kundu, S. (2021), “Managing the COVID-19 pandemic: does social infrastructure matter? Evidence from India”, Transforming Government: People, Process and Policy, Vol. 15 No. 4, pp. 675-692. https://doi.org/10.1108/TG-08-2020-0209, ISSN-1750-6166, [Scopus, ABDC-B, WoS]
  • Ghosh, A., Kundu, S., Ghosh, P. and Dutta, T. (2020), “Maximising profitability of quaternary sector organisations through workforce optimisation’, Benchmarking: An International Journal, Vol. 27 No. 10, pp. 2785-2806. https://doi.org/10.1108/BIJ-01-2020-0034, ISSN:1463-5771 [Scopus, ABDC-B, WoS]
  • Marathe, G., Dutta, T. and Kundu, S. (2020), “Is management education preparing future leaders for sustainable business? Opening minds but not hearts”, International Journal of Sustainability in Higher Education, Vol. 21 No. 2, pp. 372-392, https://doi.org/10.1108/IJSHE-02-2019-0090, ISSN: 1467-6370 [Scopus, WoS]
Book Chapter:
  • Kundu, S. (2018), “Creating Corporate Bond Market in India – Minimizing Moral Hazard and Mitigating Adverse Selection”. Chapter in book Essentials of Investing in Corporate Bonds – A Book on Corporate Bond Markets in India, ASSOCHAM, pp 125-133.
  • Majumdar, S., Kundu, S. and Chandra, A. (2023), ‘The Interplay between Fund Managers’ Social Network and Mutual Fund Performance’. ISDSI- Global Conference 2023, IIM Ranchi, India, December 26-29, 2023.
  • Majumdar, S., Kundu, S., Chandra, A. (2023), ‘Does the Social Network of Fund Managers impact the Mutual Fund Performance?’. India Finance Conference 2023, N. L. Dalmia Institute of Management Studies and Research, Mumbai, India, December 21-23, 2023.
  • Banerjee, A. & Kundu, S. (2019). Counting Tweets Can Generate Stock Returns: A Case of Indian Stocks. Presented at Third Annual Conference in Banking & Finance, IMI Bhubaneswar, 16-17 August 2019.
  • Kundu, S. (2016). Simulating Stock Prices with Block Bootstrap for Long Run Performance Evaluation – presented at Fourth International Conference on Business Analytics and Intelligence, 19 – 21, December 2016, IISc Bangalore.
  • Kundu, S. & Banerjee, A. (2015). A Special Case of Black-Litterman Model and its Application to Indian Stock Markets – A Survey Based Approach. Presented at India Finance Conference 2015, IIM Calcutta.
  • Kundu, S. & Banerjee, A. (2015). Implementing Short-term Contrarian Strategy Using Endogenous Conditioning of Black-Litterman Portfolio Model. South Western Finance Association Conference 2015, Houston, Texas, USA, 11-14 March 2015.
  • Kundu, S. & Banerjee, A. (2014). Revisiting Momentum Strategy using Endogenous Conditioning of Black-Litterman Portfolio Model. IIMB Management Review Doctoral Conference 2014 (IMRDC), 22-23 December 2014.
  • Kundu, S. & Banerjee, A. (2014). Testing Short-Term Contrarian Strategy using Endogenous Conditioning of Black-Litterman Portfolio Model. Presented at India Finance Conference 2014, Bangalore, 17-19 December 2014.

Dr Sayantan’s research interests lie in Capital Markets, Asset Pricing, Corporate Finance, Decision Sciences, and Risk Management. Sayantan has published more than seventeen research papers in reputed international journals. He is also a reviewer of several reputed international journals. Sayantan has successfully guided one PhD scholar at IIM Ranchi and is currently guiding one research scholar at IMI Kolkata.

  • Regional (East) Champions in RBI Research Challenge 2020, as Advisor guiding the IIM Ranchi team.
  • National Talent Search (NTS) Scholar of 1998, Ref: 836225 (awarded by NCERT, Govt of India).
  • Certificate and medal for successful execution and presentation of a project titled “Automobile Air Pollution” at National Children’s Science Congress, 1995.
  • Derivatives (IIM Ranchi)
  • Financial Risk Management (IIM Ranchi and IIM Bodhgaya)
  • Financial Markets (IIM Ranchi)
  • Financial Econometrics (IIM Ranchi)
  • Corporate Finance / Financial Management (IIM Ranchi and Praxis Business School)
  • Portfolio Management (IMI Kolkata and Praxis Business School)
  • Project Infrastructure and Finance (Praxis Business School)
  • International Finance (Praxis Business School)
  • Analytics for Finance (Praxis Business School)
  • Investment Banking (IMI Kolkata)
  • Wealth Management and Alternative Investments (IMI Kolkata)
  • Mergers, Acquisitions and Corporate Restructuring (IMI Kolkata)
  • Financial Modelling and Analytics (IMI Kolkata)
Other Activities
  • Visiting faculty at the Indian Institute of Management Bodh Gaya, December 2017 to February 2018 (3 months), Designed and taught a Financial Risk Management elective course
  • Visiting Faculty at Techno India (under WB University of Technology), From July 2015 to December 2015 (6 months), Taught Corporate Finance to MBA second-year students and Economics for Engineers to B.Tech. 3rd-year students
  • MDPs Conducted:
    • MDP on ‘Finance for Non-Finance’ for the Executives of Balmer Lawrie & Company, at IMI-K, February 2025
    • MDP on ‘Finance for Non-Finance’ for the Executives of Balmer Lawrie & Company, at IMI-K, December 2024
    • MDP on ‘Finance for Non-Finance’ for the Executives of Balmer Lawrie & Company, at IMI-K, November 2024
    • MDP on ‘Finance for Non-Finance’ for the Executives of Balmer Lawrie & Company, at IMI-K, September 2024
    • Sessions in the Financial Services Skill Building Course, organised by the University of Kalyani, December 2021 to February 2022
    • MDP Programme on Venture Funding and Capital Financing (for Employees of Department of Industry, Government of Jharkhand), Feb-Mar 2019
    • MDP programme on “Project Analysis, Appraisal & Financing”, at IIM Ranchi, December 2017 to January 2018
    • Personal Finance: Objective, Time Path and Portfolio Design, 10th – 12th March 2016, Calcutta Business School
  • FDPs conducted:
    • FDP: Digital Revolutions in Finance – Integrating Advanced Econometrics, Blockchain, and Financial Analytics, IMI-K, May 2024
    • Faculty Development Programme on Accounting and Finance, session on “Derivatives – Greeks and weather derivatives” at St. Xavier’s College Kolkata on 17th December 2022
    • Faculty Development Programme on Time Series Data Analysis, at Praxis Business School, 17-22 April 2022
    • Session in ICSSR Two Weeks Online Capacity Building Program for Young Social Science Faculty, Organised by North Eastern Hill University Tura Campus, February 7-18, 2022
    • Faculty Development Programme on Computational Finance and Modelling course for Computer Science and Business Systems B.Tech program designed by TCS, 20-21 July 2021