finance research

Research Topics & Ideas: Finance

120+ Finance Research Topic Ideas To Fast-Track Your Project

If you’re just starting out exploring potential research topics for your finance-related dissertation, thesis or research project, you’ve come to the right place. In this post, we’ll help kickstart your research topic ideation process by providing a hearty list of finance-centric research topics and ideas.

PS – This is just the start…

We know it’s exciting to run through a list of research topics, but please keep in mind that this list is just a starting point . To develop a suitable education-related research topic, you’ll need to identify a clear and convincing research gap , and a viable plan of action to fill that gap.

If this sounds foreign to you, check out our free research topic webinar that explores how to find and refine a high-quality research topic, from scratch. Alternatively, if you’d like hands-on help, consider our 1-on-1 coaching service .

Overview: Finance Research Topics

• Corporate finance topics
• Investment banking topics
• Private equity & VC
• Asset management
• Hedge funds
• Financial planning & advisory
• Quantitative finance
• Treasury management
• Financial technology (FinTech)
• Commercial banking
• International finance

Corporate Finance

These research topic ideas explore a breadth of issues ranging from the examination of capital structure to the exploration of financial strategies in mergers and acquisitions.

• Evaluating the impact of capital structure on firm performance across different industries
• Assessing the effectiveness of financial management practices in emerging markets
• A comparative analysis of the cost of capital and financial structure in multinational corporations across different regulatory environments
• Examining how integrating sustainability and CSR initiatives affect a corporation’s financial performance and brand reputation
• Analysing how rigorous financial analysis informs strategic decisions and contributes to corporate growth
• Examining the relationship between corporate governance structures and financial performance
• A comparative analysis of financing strategies among mergers and acquisitions
• Evaluating the importance of financial transparency and its impact on investor relations and trust
• Investigating the role of financial flexibility in strategic investment decisions during economic downturns
• Investigating how different dividend policies affect shareholder value and the firm’s financial performance

Investment Banking

The list below presents a series of research topics exploring the multifaceted dimensions of investment banking, with a particular focus on its evolution following the 2008 financial crisis.

• Analysing the evolution and impact of regulatory frameworks in investment banking post-2008 financial crisis
• Investigating the challenges and opportunities associated with cross-border M&As facilitated by investment banks.
• Evaluating the role of investment banks in facilitating mergers and acquisitions in emerging markets
• Analysing the transformation brought about by digital technologies in the delivery of investment banking services and its effects on efficiency and client satisfaction.
• Evaluating the role of investment banks in promoting sustainable finance and the integration of Environmental, Social, and Governance (ESG) criteria in investment decisions.
• Assessing the impact of technology on the efficiency and effectiveness of investment banking services
• Examining the effectiveness of investment banks in pricing and marketing IPOs, and the subsequent performance of these IPOs in the stock market.
• A comparative analysis of different risk management strategies employed by investment banks
• Examining the relationship between investment banking fees and corporate performance
• A comparative analysis of competitive strategies employed by leading investment banks and their impact on market share and profitability

Private Equity & Venture Capital (VC)

These research topic ideas are centred on venture capital and private equity investments, with a focus on their impact on technological startups, emerging technologies, and broader economic ecosystems.

• Investigating the determinants of successful venture capital investments in tech startups
• Analysing the trends and outcomes of venture capital funding in emerging technologies such as artificial intelligence, blockchain, or clean energy
• Assessing the performance and return on investment of different exit strategies employed by venture capital firms
• Assessing the impact of private equity investments on the financial performance of SMEs
• Analysing the role of venture capital in fostering innovation and entrepreneurship
• Evaluating the exit strategies of private equity firms: A comparative analysis
• Exploring the ethical considerations in private equity and venture capital financing
• Investigating how private equity ownership influences operational efficiency and overall business performance
• Evaluating the effectiveness of corporate governance structures in companies backed by private equity investments
• Examining how the regulatory environment in different regions affects the operations, investments and performance of private equity and venture capital firms

Asset Management

This list includes a range of research topic ideas focused on asset management, probing into the effectiveness of various strategies, the integration of technology, and the alignment with ethical principles among other key dimensions.

• Analysing the effectiveness of different asset allocation strategies in diverse economic environments
• Analysing the methodologies and effectiveness of performance attribution in asset management firms
• Assessing the impact of environmental, social, and governance (ESG) criteria on fund performance
• Examining the role of robo-advisors in modern asset management
• Evaluating how advancements in technology are reshaping portfolio management strategies within asset management firms
• Evaluating the performance persistence of mutual funds and hedge funds
• Investigating the long-term performance of portfolios managed with ethical or socially responsible investing principles
• Investigating the behavioural biases in individual and institutional investment decisions
• Examining the asset allocation strategies employed by pension funds and their impact on long-term fund performance
• Assessing the operational efficiency of asset management firms and its correlation with fund performance

Hedge Funds

Here we explore research topics related to hedge fund operations and strategies, including their implications on corporate governance, financial market stability, and regulatory compliance among other critical facets.

• Assessing the impact of hedge fund activism on corporate governance and financial performance
• Analysing the effectiveness and implications of market-neutral strategies employed by hedge funds
• Investigating how different fee structures impact the performance and investor attraction to hedge funds
• Evaluating the contribution of hedge funds to financial market liquidity and the implications for market stability
• Analysing the risk-return profile of hedge fund strategies during financial crises
• Evaluating the influence of regulatory changes on hedge fund operations and performance
• Examining the level of transparency and disclosure practices in the hedge fund industry and its impact on investor trust and regulatory compliance
• Assessing the contribution of hedge funds to systemic risk in financial markets, and the effectiveness of regulatory measures in mitigating such risks
• Examining the role of hedge funds in financial market stability
• Investigating the determinants of hedge fund success: A comparative analysis

Financial Planning and Advisory

This list explores various research topic ideas related to financial planning, focusing on the effects of financial literacy, the adoption of digital tools, taxation policies, and the role of financial advisors.

• Evaluating the impact of financial literacy on individual financial planning effectiveness
• Analysing how different taxation policies influence financial planning strategies among individuals and businesses
• Evaluating the effectiveness and user adoption of digital tools in modern financial planning practices
• Investigating the adequacy of long-term financial planning strategies in ensuring retirement security
• Assessing the role of financial education in shaping financial planning behaviour among different demographic groups
• Examining the impact of psychological biases on financial planning and decision-making, and strategies to mitigate these biases
• Assessing the behavioural factors influencing financial planning decisions
• Examining the role of financial advisors in managing retirement savings
• A comparative analysis of traditional versus robo-advisory in financial planning
• Investigating the ethics of financial advisory practices

The following list delves into research topics within the insurance sector, touching on the technological transformations, regulatory shifts, and evolving consumer behaviours among other pivotal aspects.

• Analysing the impact of technology adoption on insurance pricing and risk management
• Analysing the influence of Insurtech innovations on the competitive dynamics and consumer choices in insurance markets
• Investigating the factors affecting consumer behaviour in insurance product selection and the role of digital channels in influencing decisions
• Assessing the effect of regulatory changes on insurance product offerings
• Examining the determinants of insurance penetration in emerging markets
• Evaluating the operational efficiency of claims management processes in insurance companies and its impact on customer satisfaction
• Examining the evolution and effectiveness of risk assessment models used in insurance underwriting and their impact on pricing and coverage
• Evaluating the role of insurance in financial stability and economic development
• Investigating the impact of climate change on insurance models and products
• Exploring the challenges and opportunities in underwriting cyber insurance in the face of evolving cyber threats and regulations

Quantitative Finance

These topic ideas span the development of asset pricing models, evaluation of machine learning algorithms, and the exploration of ethical implications among other pivotal areas.

• Developing and testing new quantitative models for asset pricing
• Analysing the effectiveness and limitations of machine learning algorithms in predicting financial market movements
• Assessing the effectiveness of various risk management techniques in quantitative finance
• Evaluating the advancements in portfolio optimisation techniques and their impact on risk-adjusted returns
• Evaluating the impact of high-frequency trading on market efficiency and stability
• Investigating the influence of algorithmic trading strategies on market efficiency and liquidity
• Examining the risk parity approach in asset allocation and its effectiveness in different market conditions
• Examining the application of machine learning and artificial intelligence in quantitative financial analysis
• Investigating the ethical implications of quantitative financial innovations
• Assessing the profitability and market impact of statistical arbitrage strategies considering different market microstructures

Treasury Management

The following topic ideas explore treasury management, focusing on modernisation through technological advancements, the impact on firm liquidity, and the intertwined relationship with corporate governance among other crucial areas.

• Analysing the impact of treasury management practices on firm liquidity and profitability
• Analysing the role of automation in enhancing operational efficiency and strategic decision-making in treasury management
• Evaluating the effectiveness of various cash management strategies in multinational corporations
• Investigating the potential of blockchain technology in streamlining treasury operations and enhancing transparency
• Examining the role of treasury management in mitigating financial risks
• Evaluating the accuracy and effectiveness of various cash flow forecasting techniques employed in treasury management
• Assessing the impact of technological advancements on treasury management operations
• Examining the effectiveness of different foreign exchange risk management strategies employed by treasury managers in multinational corporations
• Assessing the impact of regulatory compliance requirements on the operational and strategic aspects of treasury management
• Investigating the relationship between treasury management and corporate governance

Financial Technology (FinTech)

The following research topic ideas explore the transformative potential of blockchain, the rise of open banking, and the burgeoning landscape of peer-to-peer lending among other focal areas.

• Evaluating the impact of blockchain technology on financial services
• Investigating the implications of open banking on consumer data privacy and financial services competition
• Assessing the role of FinTech in financial inclusion in emerging markets
• Analysing the role of peer-to-peer lending platforms in promoting financial inclusion and their impact on traditional banking systems
• Examining the cybersecurity challenges faced by FinTech firms and the regulatory measures to ensure data protection and financial stability
• Examining the regulatory challenges and opportunities in the FinTech ecosystem
• Assessing the impact of artificial intelligence on the delivery of financial services, customer experience, and operational efficiency within FinTech firms
• Analysing the adoption and impact of cryptocurrencies on traditional financial systems
• Investigating the determinants of success for FinTech startups

Commercial Banking

These topic ideas span commercial banking, encompassing digital transformation, support for small and medium-sized enterprises (SMEs), and the evolving regulatory and competitive landscape among other key themes.

• Assessing the impact of digital transformation on commercial banking services and competitiveness
• Analysing the impact of digital transformation on customer experience and operational efficiency in commercial banking
• Evaluating the role of commercial banks in supporting small and medium-sized enterprises (SMEs)
• Investigating the effectiveness of credit risk management practices and their impact on bank profitability and financial stability
• Examining the relationship between commercial banking practices and financial stability
• Evaluating the implications of open banking frameworks on the competitive landscape and service innovation in commercial banking
• Assessing how regulatory changes affect lending practices and risk appetite of commercial banks
• Examining how commercial banks are adapting their strategies in response to competition from FinTech firms and changing consumer preferences
• Analysing the impact of regulatory compliance on commercial banking operations
• Investigating the determinants of customer satisfaction and loyalty in commercial banking

International Finance

The folowing research topic ideas are centred around international finance and global economic dynamics, delving into aspects like exchange rate fluctuations, international financial regulations, and the role of international financial institutions among other pivotal areas.

• Analysing the determinants of exchange rate fluctuations and their impact on international trade
• Analysing the influence of global trade agreements on international financial flows and foreign direct investments
• Evaluating the effectiveness of international portfolio diversification strategies in mitigating risks and enhancing returns
• Evaluating the role of international financial institutions in global financial stability
• Investigating the role and implications of offshore financial centres on international financial stability and regulatory harmonisation
• Examining the impact of global financial crises on emerging market economies
• Examining the challenges and regulatory frameworks associated with cross-border banking operations
• Assessing the effectiveness of international financial regulations
• Investigating the challenges and opportunities of cross-border mergers and acquisitions

Choosing A Research Topic

These finance-related research topic ideas are starting points to guide your thinking. They are intentionally very broad and open-ended. By engaging with the currently literature in your field of interest, you’ll be able to narrow down your focus to a specific research gap .

When choosing a topic , you’ll need to take into account its originality, relevance, feasibility, and the resources you have at your disposal. Make sure to align your interest and expertise in the subject with your university program’s specific requirements. Always consult your academic advisor to ensure that your chosen topic not only meets the academic criteria but also provides a valuable contribution to the field. 

If you need a helping hand, feel free to check out our private coaching service here.

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Deborah J. Lucas

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Lucas, Deborah J., MIT Sloan Working Paper 5400-17. Cambridge, MA: MIT Sloan School of Management, December 2019.

Lucas, Deborah J., MIT Sloan Working Paper 5399-17. Cambridge, MA: MIT Sloan School of Management, October 2017.

Lucas, Deborah J., MIT Sloan Working Paper 5402-17. Cambridge, MA: MIT Sloan School of Management, September 2017.

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Mota, Lira, MIT Sloan Working Paper 6724-21. Cambridge, MA: MIT Sloan School of Management, March 2021.

Stewart Myers

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Erel, Isil, Stewart Myers and James A. Read, Jr. Journal of Financial Economics Vol. 118, No. 3 (2015): 620-635.

Myers, Stewart. Annual Review of Financial Economics Vol. 7, (2015): 1-34.

Myers, Stewart. Boston, MA: Irwin/McGraw-Hill, 2013.

Christopher J. Palmer

Albert and Jeanne Clear Career Development Professor

Di Maggio, Marco, Amir Kermani, and Christopher John Palmer. Review of Economic Studies Vol. 87, No. 3 (2020): 1498-1528. Pre-publication Version . Appendix . Data and Code . Slides . VoxEU . Forbes . NBER Digest . MIT News .

Jonathan A. Parker

Robert C. Merton (1970) Professor of Financial Economics

Parker, Jonathan A. American Economic Journal: Macroeconomics Vol. 9, No. 4 (2017): 153-183. Publisher Page . Online appendix .

Fishman, Michael J., and Jonathan A. Parker. The Review of Financial Studies Vol. 28, No. 9 (2015): 2575-2607. Download Paper .

Brunnermeier, Markus K. and Jonathan A. Parker. American Economic Review Vol. 95, No. 4 (2005): 1092-1118. JSTOR .

Lawrence D.W. Schmidt

Victor J. Menezes (1972) Career Development Assistant Professor of Finance

Schmidt, Lawrence D. W., Allan Timmermann, and Russ Wermers. American Economic Review Vol. 106, No. 9 (2016): 2625-2657. Author Disclosures . Appendix . Data Set .

Schmidt, Lawrence D.W., MIT Sloan Working Paper 5500-16. Cambridge, MA: MIT Sloan School of Management, March 2022.

Beare, Brendan K., and Lawrence D. W. Schmidt. Journal of Applied Econometrics Vol. 31, No. 2 (2016): 338-356. Supplement .

Antoinette Schoar

Professor, Finance

Bruhn, Miriam, Dean Karlan, and Antoinette Schoar. Journal of Political Economy Vol. 126, No. 2 (2018): 635-687.

Lerner, Josh, Antoinette Schoar, Stanislav Sokolinski, and Karen Wilson. Journal of Financial Economics Vol. 127, No. ` (2018): 1-20.

Adelino, Manuel, Antoinette Schoar, and Felipe Severino. Review of Financial Studies Vol. 29, No. 7 (2016): 1635-1670.

Kerry Y. Siani

Olivier Darmouni and Kerry Siani. Center for Economic and Policy Research Press Discussion Paper No. 17191.

David Thesmar

Franco Modigliani Professor of Financial Economics

Bouchaud, Jean-Philippe, Philipp Krueger, Augustin Landier, and David Thesmar. Journal of Finance Vol. 74, No. 2 (2019): 639-674. Download Paper .

Fraisse, Henri, Mathias LÉ, and David Thesmar. Management Science Vol. 66, No. 1 (2020): 5-23. Supplement . Download Paper .

Perignon, Christophe, David Thesmar, and Guillaume Vuillemey. Journal of Finance Vol. 73, No. 2 (2018): 575-617. Download Paper .

Adrien Verdelhan

Stephens Naphtal Professor of Finance

Du, Wenxin, Alexandre Tepper, and Adrian Verdelhan. Journal of Finance Vol. 73, No. 3 (2018): 915-957. Appendix . Download Paper .

Verdelhan, Adrien. Journal of Finance Vol. 73, No. 1 (2018): 375-418. SSRN Preprint .

Lustig, Hanno, Nick Roussanov and Adrien Verdelhan. Review of Financial Studies Vol. 24, No. 11 (2011): 3731-3777. Download Paper .

Emil Verner

Associate Professor, Finance

Mizuho Financial Group Professor

Tsoukalas, Gerry, Jiang Wang, and Kay Giesecke. Management Science . Forthcoming.

Hu, Grace Xing, Jun Pan, and Jiang Wang. Journal of Financial Economics Vol. 126, No. 2 (2017): 399-421. Download Paper .

Kogan, Lenoid, Stephen Ross, Jiang Wang, and Mark Westerfield. Journal of Economic Theory Vol. 168, (2017): 209-236.

Haoxiang Zhu

Zhu, Haoxiang, and Songzi Du. Journal of Finance Vol. 27, No. 6 (2017): 2589-2628. SSRN Preprint . Appendix .

Song, Zhaogang and Haoxiang Zhu. Review of Financial Studies Vol. 32, No. 8 (2019): 2955-2996. SSRN Preprint .

Yang, Liyan, and Haoxiang Zhu. Journal of Finance Vol. 72, No. 6 (2017): 2759-2772. SSRN Preprint .

Egor Matveyev

Senior Lecturer and Research Scientist in Finance

Lyandres, Evgeny, Egor Matveyev, and Alexei Zhdanov, MIT Sloan Working Paper 5235-17. Cambridge, MA: MIT Sloan School of Management, April 2017.

Matveyev, Egor, Working Paper. December 2016.

Matthew Rhodes-Kropf

Visiting Associate Professor, Finance

Nanda, Ramana and Matthew Rhodes-Kropf. Management Science Vol. 63, No. 4 (2017): 901-918.

Nanda, Ramana, and Matthew Rhodes-Kropf. In Innovation Policy and the Economy, Vol. 16 , 1-23. Chicago, IL: University of Chicago Press, 2016.

Ramana Nanda and Matthew Rhodes-Kropf. In Moving to the Innovation Frontier , edited by Christian Keuschnigg. Washington, DC: March 2016.

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Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment

This paper estimates how experimentally-manipulated experiences with a novel financial product, rainfall index insurance, affect subsequent insurance demand. Using a seven-year panel, we develop three main findings. First, recent experience matters for demand, consistent with overinference from small samples. Second, spillovers also matter, in the sense that the recent payout experience of village co-residents affects insurance demand about as much as one's own recent payout experience. Third, the spillover effect decays as time passes while the effect of one's own experience does not. We discuss implications of this analysis for commercial sustainability of this complicated but promising risk management technology.

This paper estimates how experimentally-manipulated experiences with a novel financial product, rainfall index insurance, affect subsequent insurance demand. Using a seven-year panel, we develop three main findings. First, recent experience matters for demand, consistent with overinference from small samples. Second, spillovers also matter, in the...

Expectations of Returns and Expected Returns

We analyze time-series of investor expectations of future stock market returns from six data sources between 1963 and 2011. The six measures of expectations are highly positively correlated with each other, as well as with past stock returns and with the level of the stock market. However, investor expectations are strongly negatively correlated with model-based expected returns. The evidence is not consistent with rational expectations representative investor models of returns.

We analyze time-series of investor expectations of future stock market returns from six data sources between 1963 and 2011. The six measures of expectations are highly positively correlated with each other, as well as with past stock returns and with the level of the stock market. However, investor expectations are strongly negatively correlated...

• August 2014

Mortgage Convexity

Most home mortgages in the United States are fixed-rate loans with an embedded prepayment option. When long-term rates decline, the effective duration of mortgage-backed securities (MBS) falls due to heightened refinancing expectations. I show that these changes in MBS duration function as large-scale shocks to the quantity of interest rate risk that must be borne by professional bond investors. I develop a simple model in which the risk tolerance of bond investors is limited in the short run, so these fluctuations in MBS duration generate significant variation in bond risk premia. Specifically, bond risk premia are high when aggregate MBS duration is high. The model offers an explanation for why long-term rates could appear to be excessively sensitive to movements in short rates and explains how changes in MBS duration act as a positive-feedback mechanism that amplifies interest rate volatility. I find strong support for these predictions in the time series of US government bond returns.

Most home mortgages in the United States are fixed-rate loans with an embedded prepayment option. When long-term rates decline, the effective duration of mortgage-backed securities (MBS) falls due to heightened refinancing expectations. I show that these changes in MBS duration function as large-scale shocks to the quantity of interest rate risk...

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Financial Repression in the European Sovereign Debt Crisis

By the end of 2013, the share of government debt held by the domestic banking sectors of Eurozone countries was more than twice its 2007 level. We show that this type of increasing reliance on the domestic banking sector for absorbing government bonds generates a crowding out of corporate lending. For a given domestic firm, new debt is less likely to be a loan—i.e., the loan supply contracts—when local banks have purchased more domestic sovereign debt and when that debt is risky (as measured by CDS spreads). These effects are most pronounced in the period following the second Greek bailout in early 2010.

By the end of 2013, the share of government debt held by the domestic banking sectors of Eurozone countries was more than twice its 2007 level. We show that this type of increasing reliance on the domestic banking sector for absorbing government bonds generates a crowding out of corporate lending. For a given domestic firm, new debt is less likely...

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Why Are Companies That Lose Money Still So Successful?

• Vijay Govindarajan,
• Shivaram Rajgopal,
• Anup Srivastava,
• Aneel Iqbal,
• Elnaz Basirian

New research on how to identify investments that produce delayed but real profits — not just those that produce short-term accounting profits.

In a well-functioning capital market, profits should be the sole criterion for firm survival; that is, firms reporting losses should disappear. Of late, however, loss-making firms are highly sought after by investors — often more than some profitable firms. Unicorns, or startups with valuations exceeding a billion dollars, are examples of such loss-making firms. What has changed over time? When and why did losses lose their meaning? The authors’ series of new research papers provide some answers, guiding managers to make the right investments: those that produce delayed but real profits — not just those that produce short-term accounting profits but decimate shareholder wealth in long run.

In 1979, psychologists Daniel Kahneman and Amos Tversky famously posited that losses loom larger than gains in human decision-making. For example, a dollar of loss affects our behavior more than a dollar of profits . Likewise, when a firm announces losses, its stock price declines more dramatically than it increases for the same dollar amount of profits. Investors abandon and lenders tend to stop financing loss-making firms , which then start restructuring their business lines and laying off employees. Some firms go even further, conducting M&A transactions without substance and “managing earnings” to report profits instead of a loss.

• Vijay Govindarajan is the Coxe Distinguished Professor at Dartmouth College’s Tuck School of Business, an executive fellow at Harvard Business School, and faculty partner at the Silicon Valley incubator Mach 49. He is a New York Times and Wall Street Journal bestselling author. His latest book is Fusion Strategy: How Real-Time Data and AI Will Power the Industrial Future . His Harvard Business Review articles “ Engineering Reverse Innovations ” and “ Stop the Innovation Wars ” won McKinsey Awards for best article published in HBR. His HBR articles “ How GE Is Disrupting Itself ” and “ The CEO’s Role in Business Model Reinvention ” are HBR all-time top-50 bestsellers. Follow him on LinkedIn . vgovindarajan
• Shivaram Rajgopal is the Roy Bernard Kester and T.W. Byrnes Professor of Accounting and Auditing and Vice Dean of Research at Columbia Business School. His research examines financial reporting and executive compensation issues and he is widely published in both accounting and finance.
• Anup Srivastava holds Canada Research Chair in Accounting, Decision Making, and Capital Markets and is a full professor at Haskayne School of Business, University of Calgary. In a series of HBR articles, he examines the management implications of digital disruption. He specializes in the valuation and financial reporting challenges of digital companies. Follow Anup on  LinkedIn .
• Aneel Iqbal is an assistant professor at Thunderbird School of Global Management, Arizona State University. He examines the accounting measurement and financial disclosures for new-economy firms and incorporates his wide-ranging industry experience into his research and teaching. He is a seasoned accounting and finance professional with diverse experience in auditing, financial analysis, business advisory, performance management, and executive training. Follow Aneel on LinkedIn .
• Elnaz Basirian is a PhD student at the Haskayne School of Business. She examines the influence and role of intangibles in accounting and finance, aimed at improving valuation and market efficiency. She brings a decade of work experience in international financial markets. Follow Elnaz on LinkedIn .

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DHRUVA RESEARCH is launched – Building India’s top financial education platform

Mr. Prabhat Kumar, a well-known SEBI registered research analyst, announced today that his financial market research institute DHRUVA RESEARCH is officially launched. The institute is committed to improving the financial literacy and investment capabilities of Indian investors through education and research, and fundamentally changing investors’ perception of the market.

“Over the years, I have accumulated rich experience in the global financial market. The epidemic has not only changed the global economic landscape, but also made me re-examine my own development direction,” said Mr. Prabhat Kumar. “I firmly believe that through education and the dissemination of knowledge, more investors can succeed in the financial market.”

Professor Prabhat Kumar has a rich educational background and professional experience in the field of finance. He graduated from the famous Indian institution Indian Institute of Management Bangalore (IIM Bangalore), and went to Rutgers Business School in the United States in 2001 to study for an MBA and a master’s degree in finance, graduating in 2004.

Throughout his career, Professor Prabhat Kumar has demonstrated outstanding financial analysis and management capabilities:

• From August 2009 to August 2011, he worked as a commercial banking account manager at Citibank, USA, during which he was transferred to Citibank's investment banking analyst assistant for 8 months.
• From 2012 to November 2015, he worked as an analyst at Merrill Lynch, USA, and was promoted to chief analyst in 2014 due to his excellent trading performance.
• From March 2016 to December 2019, he served as deputy team leader in the wealth management department of Barclays Capital, and transferred to the research department in June 2017 and was promoted to the main person in charge.

Professor Prabhat Kumar has more than 15 years of experience in the financial field and is a well-respected SEBI registered research analyst. He has accumulated rich research and investment experience in financial markets around the world and has a deep understanding of financial instruments such as stocks, bonds, and derivatives. He has worked in many internationally renowned financial institutions and played an important role in many financial research projects, committed to providing customers with excellent investment advice and market analysis.

Professor Prabhat Kumar is passionate about education and knowledge dissemination. He firmly believes that education is the key to improving investor literacy. He has given speeches at international financial conferences and seminars many times, sharing his research results and investment experience, which has been widely recognized and praised. As the founder and chief mentor of DHRUVA RESEARCH, he hopes to pass on his knowledge and experience to more investors through this platform and help them find a successful path in the complex financial market.

With the official launch of DHRUVA RESEARCH, all related services will be open to the public free of charge during the trial operation phase. The institute will also participate in the analyst challenge organized by the CFA Institute to take this opportunity to demonstrate its strength and attract more attention.

Through exchanges with friends and people in the investment circle, Professor Prabhat Kumar concluded that the main reasons for losses of Indian investors are concentrated in the following aspects: first, they cannot adapt to market fluctuations, second, they lack sufficient knowledge and research, third, they over-trade, and fourth, they do not know how to diversify risks. However, as the world's most populous country and a future economic giant, India's financial market is booming, and the influx of domestic and foreign funds has prompted more and more ordinary people to get involved in the stock market. This phenomenon further deepened the professor's determination to establish a high-end financial research institute, hoping to improve the quality of investors through education and fundamentally change the status quo.

To this end, Professor Prabhat Kumar has a lofty vision - to establish a financial market research institute to cultivate high-end financial talents in India and even the world, and change investors' perception of the market. He knows that shaping a mature investment culture is inseparable from the guidance and demonstration of a high-end circle. Therefore, he plans to enhance his social influence by participating in the CFA Institute Research Challenge organized by the CFA Institute to attract more people with lofty ideals to join this movement of knowledge popularization and ability improvement.

The CFA Institute Research Challenge is not only a platform to demonstrate personal ability, but also an excellent opportunity to learn and communicate with industry elites. Professor Prabhat Kumar hopes to attract more investors and financial practitioners by making a name for himself in the competition, and accumulate popularity and demonstrate strength through his own teaching and practice to help more people understand the essence of the stock market. The professor will also selflessly share his experience accumulated over the years, so that investors can ride the wind and waves in the turbulent stock market and sail to the other side of profitability.

Professor Prabhat Kumar's wish is not limited to personal achievements. He hopes to make important contributions to India's financial education brand through his own efforts. With the help of the CFA Analyst Challenge platform, he will make more like-minded friends to jointly promote the healthy development of India's financial market and create a more stable and knowledge-rich investment environment.

Professor Prabhat Kumar firmly believes that through the dissemination of knowledge and the guidance of the circle, India's investment environment will definitely get better and better. Let us look forward to the financial education platform he has built to bring new enlightenment and gains to investors in India and even the world, so that more people can realize their dreams on the road of investment and welcome a promising future together.

Media contact

Company Name:Dhruva Research

Email: [email protected]

Country:India

Website:dhruvaresearch.com

Why Nvidia just got a rare stock downgrade

• Nvidia stock was downgraded to 'Neutral' by NewStreet Research on valuation concerns.
• Analyst Pierre Ferragu cited limited upside in the shares after a 157% year-to-date rally.
• "We would be buyers again, but only on prolonged weakness," NewStreet Research said.

Nvidia stock got a rare downgrade on Wall Street on Friday.

NewStreet Research analyst Pierre Ferragu downgraded shares of the artificial intelligence powerhouse to "Neutral" from "Buy" in a Friday note, arguing that the stock appears to be fully valued.

Ferragu hasn't necessarily turned bearish on the stock. The analyst has a one-year and two-year price target of $135 and $143, respectively, representing potential upside of 6% and 12% from current levels.

He's simply less bullish than he has been recently, and less optimistic than much of the rest of Wall Street.

"We see limited further upside based on what we hear from the value chain," Ferragu said. "We downgrade the stock to Neutral today, as upside will only materialize in a bull case, in which the outlook beyond 2025 increases materially, and we do not have the conviction on this scenario playing out yet."

Ferragu said that while Nvidia still has the strongest AI franchise amongst its competitors, a "more prudent view on the stock" is necessary after its year-to-date rally of 157%.

"The quality of the franchise is nevertheless intact, and we would be buyers again, but only on prolonged weakness," Ferragu said.

Downbeat opinions on Nvidia are rare among Wall Street analysts, with 89% of the 72 analysts who cover the company rating the stock a "Buy," according to data from Bloomberg.

Ferragu's $135 price target falls in-line with the average 12-month price target on the stock at $134.77.

On the more bullish side, some expect Nvidia's meteoric rise to keep going, with one analyst predicting the stock will nearly double to a $6 trillion valuation by the end of the year.

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How a New York short-seller took on one of the world's richest people, wiped out $150 billion in market value, and barely made any money

• Activist short-seller Hindenburg Research wiped out $153 billion in market value from Adani Group.
• It recently disclosed that it made just $4 million for its efforts.
• Detailed below is the war of words that's taken place over the past 18 months.

Nate Anderson, the chief mind behind activist short-seller Hindenburg Research, has had an eventful past 18 months.

In January 2023, he accused the Indian conglomerate owned by Gautam Adani — one of the world's richest people — of fraud, subsequently wiping out $153 billion in market value from its associated companies. This led Indian regulators to his doorstep and forced him into defensive mode. A war of words has persisted ever since.

A year and a half later, the battle continues. And based on new information released by Hindenburg, one might wonder whether it was all worth it.

The firm — which describes itself as specializing in " forensic financial research " — recently disclosed that it's made just $4 million from its considerable efforts. Compared to the nine figures of market value it helped erase, and the $80 billion wiped from Adani's personal fortune, that's a drop in the bucket.

Detailed below is the considerable back-and-forth that's taken place since Hindenburg's initial shot across the bow of Adani Group. The tale that follows highlights the lengths a global conglomerate — and the regulatory body with a vested interest in keeping it afloat — will go to defend itself. It also shows the resolute nature of Anderson as he continues fighting back.

The initial report

Hindenburg accused Indian business magnate Gautam Adani in 2023 of pulling off the "largest con in corporate history." It was the result of a two-year-long investigation, which found a number of financial and accounting irregularities in Adani's empire, the firm said in its 106-page report.

"Indian conglomerate Adani Group has engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades," the report said. "We believe the Adani Group has been able to operate a large, flagrant fraud in broad daylight in large part because investors, journalists, citizens and even politicians have been afraid to speak out for fear of reprisal," it later added.

Hindenburg identified at least 38 shell companies closely related to Adani Group, which it said appeared to engage in stock manipulation and money laundering. It cited "numerous examples"of those companies funneling money through private companies owned by Adani, before cash was set to Adani's listed public companies.

The short-seller's investigation also found Adani's private and public companies to have "numerous" undisclosed transactions with other parties, the researchers found, which violates regulatory laws in India.

The "labyrinthian network of shells appears to serve several functions, including shuffling losses into private entities to boost reported earnings, and surreptitiously moving money to prop up entities in the group," Hindenburg said.

Adani Group was also affiliated with a number of funds that displayed "flagrant irregularities," the research firm said, such as being offshore entities, having concealed ownership information, and having portfolios being "almost exclusively" invested in Adani's firms.

One such fund, Elara, controlled another fund that was around 99% concentrated in Adani shares. That suggested to the researchers it was "obvious Adani controls the shares," the report said.

Hindenburg attached a list of 88 questions for Adani to answer, which included inquiries into the billionaire's close contacts, Adani Group executives, and investigations into the company by regulators.

"If Gautam Adani embraces transparency, as he claims, they should be easy questions to answer," the report said.

The response

Nursing deep stock losses, Adani Group hit back with its own 413-page response , calling Hindenburg's original report "nothing but a lie."

"We are shocked and deeply disturbed to read the report published by the 'Madoffs of Manhattan,'" the reply said, referring to Hindenburg.

"The document is a malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive," it added.

The firm disclosed information on its accounting practices and professional relationships, while disputing many of the claims in the Hindenburg report.

Transactions that were identified as suspicious by Hindenburg's team were in compliance with local laws and accounting standards, it said. Offshore companies and funds mentioned in Hindenburg's report were merely public shareholders in Adani-listed companies, the retort added.

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"A listed entity does not have control over who buys/sells/owns the publicly traded shares or how much volume is traded, or the source of funds for such public shareholders nor it is required to have such information for its public shareholders under the laws of India. Hence we cannot comment on trading pattern or behavior of public shareholders," Adani's report said.

The firm also criticized Hindenburg for its financial stake in releasing the report, calling the firm an "unethical short seller" and guilty of a "flagrant breach of applicable securities and foreign exchange laws."

"This is rife with conflict of interest and intended only to create a false market in securities to enable Hindenburg, an admitted short seller, to book massive financial gain through wrongful means at the cost of countless investors," it said.

Hindenburg issued a reply to Adani on the same day, denying any wrongdoing from its original report. They argued that Adani Group's reply failed to answer most of their questions. The conglomerate also didn't dispute the existence of certain "suspect" transactions, nor did it explain "their obvious irregularities," researchers added.

"We also believe that fraud is fraud, even when it's perpetrated by one of the wealthiest individuals in the world," Hindenburg Research said in its reply.

Adani Group eventually lawyered up and readied for a fight, though the damage had already been done. In less than a week, Adani, known as the world's third richest man, saw his personal wealth plummet by $52 billion.

Conflict over Hindenburg's short-selling arrangement

Indian regulators have raised specific questions about the structure of Hindenburg's short bet on Adani Group. The Securities and Exchange Board of India — the country's version of the SEC — sent a notice to Hindenberg in June 2024, raising questions about the nature of the report and the firm's relationship with Kingdon Capital Management, a New York hedge-fund involved in building a short position against Adani Group.

Hindenburg's initial report was described to be "misleading" and have contained "inaccurate statements."

"These misrepresentations built a convenient narrative through selective disclosures, reckless statements, and catchy headlines, in order to mislead readers of the report and cause panic in Adani Group stocks, thereby deflating prices to the maximum extent possible and profit from the same," the notice read.

Regulators also revealed that Hindenburg had shared its research with Kingdon prior to publication. The two companies had a profit-sharing agreement, the notice says, with Hindenburg set to get 25% of Kingdon's profits for the short bet.

Kingdon ended up making $22.3 million on the bet, $5.5 million of which is owed Hindenburg. $4.1 million of that had been paid as of the start of June, the document shows.

Hindenburg shrugged off the letter as "nonsense," and an attempt to ward off whistleblowers who expose corruption among the country's most powerful people and companies.

"One might think that a securities regulator would be interested in meaningfully pursuing the parties that ran a secret offshore shell empire engaging in billions of dollars of undisclosed related party transactions through public companies while propping up its stocks through undisclosed share ownership via a network of sham investment entities," Hindenburg said in its reply.

It added: "Instead, SEBI seems more interested in pursuing those who expose such practices."

A passion for 'finding scams'

Backlash is nothing new to Anderson, who's targeted other high-profile financiers and began sniffing out wrongdoers on Wall Street long before he launched Hindenburg Research in 2017.

This decade alone he's been instrumental in weeding out companies in the electric-vehicle industry. His work on Nikola led to fraud charges against its founder, and he also called out now-defunct Lordstown Motors for hyping up commercial interest in its product.

More recently he took aim at activist investor Carl Icahn and his famed operation, Icahn Enterprises.

"Find[ing] scams" has been a life-long passion, he told the New York Times in a 2021 interview , adding that he had spent hours off-the-clock looking into potential schemes, to the chagrin of some of his former bosses.

"I didn't plan it this way," he told the Times. "It was a side hobby that my employers were sometimes annoyed by."

Fraud-finding is one of his top goals of 2024, he wrote in a post on X in January.

"My 2023 New Years professional resolution is to work with our @HindenburgRes team to expose some of the biggest frauds and financial charlatans in the world," Anderson wrote. "I am very confident we will achieve this goal."

Watch: Why Sam Bankman-Fried is facing up to 110 years in prison

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Director of Finance And Accounting (Japanese bilingual)

Job posting for director of finance and accounting (japanese bilingual) at pegasus tech ventures.

Pegasus Tech Ventures is currently seeking a Japanese / English bilingual Finance / Accounting Director, experienced in finance / accounting and passionate about venture capital/technology startups to join its HQ in San Jose, California.

Pegasus Tech Ventures is a global venture capital firm based in Silicon Valley. We invest in emerging technology companies around the world and work with them to expand sales in North America, Asia, and Europe. Our global team operates out of offices across 3 continents and offers a wide range of domain expertise. We currently have 35 funds under management, and look for world-class management and technical teams that are targeting disruptive opportunities in IT, HealthTech, Artificial Intelligence, IoT, Robotics, Big Data, Quantum Computing, FinTech, and Next Generation Technologies.

Primary Responsibilities

• Manage the Finance / Accounting team
• Manage financial closing for funds and corporations: monthly/quarterly/annual financial reports (balance sheets, income statements, cash flow statements)
• Manage tax filing for both funds and corporate entities
• Develop and manage annual and multi-year consolidated budgets that are adequate for the organization’s needs including preparation of periodic budget forecasts
• Prepare and maintain cash flow analysis monthly
• Analyze monthly consolidated financial statements (balance sheet, income statement, and statement of cash flows) and report to the management.
• Ensure operational compliance with policies, procedures and regulations for any necessary entities
• Oversee the process for vendor payments and check requests
• Oversee the process for employee reimbursements including managing employee credit card charges and reconcile credit card accounts
• Reconcile bank accounts and general ledger accounts
• Respond to inquiries from other departments regarding budgets, deposits, disbursement and financial reports
• Assist in reconciling all balance sheet and income statement accounts on a monthly/quarterly basis as indicated by the monthly closing schedule
• Correspondence with audit firms and brokerage firms
• Prepare for general shareholders meetings and board meetings
• Analyze current finances and develop budgets for the following period/year
• Track the company's financial and accounting status and performance to identify areas for potential improvement
• Seek out methods for minimizing financial risk to the company
• Provide insightful information and expectations to senior executives to aid in long-term and short-term decision making
• Stay up to date with technological advances and accounting software to be used for financial purposes
• Establish and maintain financial and accounting policies and procedures for the company
• Understand and adhere to financial and accounting regulations and legislation
• Maintain relationship with compliance vendors
• Support Chief Compliance Officer and oversee implementation of compliance processes to be compliant as a Registered Investment Advisor
• Oversee annual Form ADV amendment filings & other necessary regulatory filings
• Other tasks / projects that may be assigned

Qualifications

• 10 years of experience in a Finance or Accounting related role
• Experience in consolidated international accounting
• Bachelor’s degree in accounting, economics, finance, mathematics or related fields. Having an advanced degree is a plus
• Knowledge of US GAAP (& JGAAP is a plus)
• Team management experience
• Experience in financial and accounting management in a public company
• Self starter who is highly motivated, with high attention to detail and proven ability to multitask and work in a dynamic environment
• Have excellent interpersonal and communication skills
• Project management experience
• Proficient in Microsoft Office suite (Excel, Word, PowerPoint, etc.) and financial management software
• Detail oriented and analytical
• Must be able to multi-task and prioritize in a fast-paced multi-team environment
• Ability to work to deadlines with quick turnaround
• Experience / knowledge in fund financials is a plus
• Fluent in Japanese
• CPA is a plus
• Experience in J-SOX is a plus

*Please make sure to include resume when you are submitting the application

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