Sayantan Kundu

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

Specialization : Finance

Designation : Assistant Professor

Email: [email protected]

About Sayantan Kundu

Prof. Sayantan Kundu is an Assistant Professor of Finance area 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, Investment Baking, and Wealth Management and Alternative Investments at IMI Kolkata. Apart from these, 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 Faculty Development Programs at Praxis Business School.

Publications in Peer Reviewed Journals

  • Majumdar, S., Kundu, S., Bose, S. et al. Network Nexus: Exploring the Impact of Alumni Connections of Managers on Mutual Fund Performance in India. Asia-Pac Financial Markets (2023). ISSN: 1387-2834 [Scopus, ABDC-C]
  • 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, ISSN 0019-8501 [Scopus, ABDC-A*]
  • Banerjee, A. and Kundu, S. (2023), “Does Public Sentiment Impact Stock Price Movements? Evidence from India”, Journal of Emerging Market Finance, Accepted on 07-Aug-2023, ISSN: 0972-6527 [Scopus, ABDC-B]
  • 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: ISSN: 0973 – 8711 [Scopus, ABDC-C]
  • Kundu, S. and Banerjee, A. (2022), “Efficiency of Financial Production Process and its Dependence on Price Anchors: Evidence from India”, IIMB Management Review, in the press, Accepted on 30-Sep-2022, ISSN: 0970-3896, [Scopus, ABDC-B]
  • 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. ISSN: 1321-7348, [Scopus, ABDC-B]
  • 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,, Online ISSN: 2332-2039 [Scopus, ABDC-B]
  • 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: 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,, ISSN: 0161-8938 [Scopus, ABDC-A]
  • 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,, 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:, Online ISSN: 2332-2039 [Scopus, ABDC-B]
  • 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., ISSN: 1741-0401 [Scopus, ABDC-B]
  • Banerjee, A., Kundu, S. and Sivasankaran, N. (2021), “Asymmetric Impact of Working Capital Efficiency on Market Performance of Indian Firms”. Global Business Review,, ISSN: 0972-1509 (available online from February 5, 2021) [Scopus, ABDC-C]
  • 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., ISSN-1750-6166, [Scopus, ABDC-B]
  • 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., ISSN:1463-5771 [Scopus, ABDC-B]
  • 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,, ISSN: 1467-6370 [Scopus]
  • Kundu, S. (2012), “Tracking NIFTY – A Cointegration Based Approach”, Time’s Journey, Vol-1, No-1, pp35-56, RNI: DL No.171, ISSN: 2278-6546, available online at

Chapters/Articles published in Books

  • 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.

News Paper Articles

  • Kundu, S & Nandy, A. (2021, December 15). Why Cryptocurrencies must be regulated. The Hindu Business Line.
  • Nandy, A. & Kundu, S (2021, January 27). Budget should sustain green shoots of recovery, The Hindu Business Line.
  • Kundu, S & Nandy, A. (2020, February 23). Two Cheers for New Income Tax System. The Hindu Business Line.
  • Kundu, S. & Nandy, A. (2019, February 18). The Tax Rebate Proposal Promotes Inequality. The Hindu Business Line.