Dr H K Pradhan

Dr H K Pradhan

Qualification : M.A.(Utkal), M.Phil (Pune), Ph.D. (Pune), Post Doctoral Fellow (Columbia Univ. New York)

Email : pradhan@xlri.ac.in, pradhan_hk@yahoo.com

Functional Area : Finance and Economics

Hobbies : Mentoring in Financial Literacy, Finance for Society

Brief Profile  

  1. M.A. (Utkal University)
  2. M.Phil (GIPE, Pune)
  3. Ph.D. (GIPE, Pune)
  4. Fulbright Post Doctoral Fellow(Columbia Univ. New York)


Total Experience (in months)
 35 Years (as on 21-FEB-20)

Experience Detail  

  1. Professor of Finance and Economics XLRI Jamshedpur (since 1995)
  2. Advisor, Commonwealth Secretariat & Ministry of Finance, Fiji Islands (2005-07)
  3. Professor of Finance IFMR Chennai (1988-2005)
  4. Faculty NIBM Pune (1985-1988)

Dr H K Pradhan

Dr H K Pradhan

Achievements and Research Interest/Area of Research Interests

Academic Distinction (Awards and Scholarships)


  1. Best Research Paper Award, 6th Annual Capital Markets Conference, UTI Institute of Capital Markets, Mumbai
  2. USA Fulbright Post Doctoral Fellowship 1999
  3. UGC Research Fellowship for MPhil at GIPE Pune
  4. National Merit Scholarship at UG & PG studies


Adminstrative Distinction

  1. Additional Director of State Bank of India-DFHI Mumbai

Other Achievements


  1. Asset Pricing
  2. Debt Markets 
  3. International Finance
  4. Financial Risk Management
  5. Development Finance, SME Finance
  6. Government Debt Management
  7. Exchange Rate Policy 
  8. Commodity Risk Management 
  9. Mutual Fund 
  10. FX Risk Treasury 

Faculty Development Programs Attended

Courses Taught

  1. Debt Markets and thier Derivatives
  2. Financial Risk Management
  3. Analytical Foundations of Debt Market(Doctoral)
  4. Issues in Empirical Finance(Doctoral)
  5. Internaitonal Business Economics
  6. International Financial Management
  7. Financial Markets
  8. Social Finance & Banking
  9. Micro & Macroeconomics
  10. Options and Futures

Consultancy Undertaken

In-Company Programs


Journal Articles-Refereed

  • Over-Indebtedness in Microfinance: Evidence From A Survey Of Borrower Households From An Indian State, Indian Economic Journal(forthcoming), ABDC B (jointly with Sunil Puliyakot)
  • Risk-Return Trade-off and Downside Risk Timing in Mutual Funds: Evidence from an Emerging Economy, Review of Pacific Basin Financial Markets and Policies (forthcoming) (jointly with Pankaj K Agrawal)
  • Hunting the quicksilver: Using textual news and causality analysis to predict market volatility, International Review of Financial Analysis, July 2021, (ABDC A-Category) (jointly with Ameet Banerjee, Andreia Dionisiob and Biplab Mahapatra)
  • Intraday Analysis of Macroeconomic News Surprises, and Asymmetries in Indian Benchmark Bond, Finance Research Letters, May 2021 (jointly with Ameet Banerjee).
  • MSME Financing in India: Key to the 5 Trillion Economy, a book chapter jointly with Pankaj Agrawal, Inclusive Finance India Report 2020, edited by Tamal Bandyopadhyay, ACCESS ASSIST, New Delhi, 2021
  • Responses of Economic News on Asset Prices: A Study of Indian Stock Index Futures, Applied Finance Letters, Vol. 9 No. SI (2020): Special Issue (jointly with Ameet Banerjee)
  • Order Flows, Investor Sentiments and Feedback Trade in index Futures Market, Journal of Quantitative Economics, January 2020 (ABDC B, Jointly with Ameet Banerjee)
  • A model of credit constraint for MSMEs in India, Small Business Economics, May 2019(ABDC A, jointly with Malcolm Athaide)
  • Macroeconomic News Surprises, Volume and Volatility Relationship in Index Future Market, Applied Economics, July 2019 (ABDC A, Jointly with Ameet Banerjee)
  • Mutual Fund Performance in Changing Economic Conditions: Evidence from an Emerging Economy, Cogent Economics and Finance (ABDC B, Jointly with Pankaj Agrawal)
  • Mutual Fund Performance Using Unconditional MultiFactor Models: Evidence from India”, Journal of Emerging Market Finance, forthcoming 2018.
  • Competition, Multiple Borrowing and Over-Indebtedness in Microfinance: An Empirical Investigation, The Microfinance Review, Volume VII(2), July-September 2015.
  • Examining Overreaction in Indian Stock Market for Quarterly News, Emerging Markets Journal, Volume 4, No1, 2014 (jointly with Sitangshu Khatua)
  • Time Varying Market Integration as a regime switching process, published in the festschrift volume in Econometrics in honour of Professor Dilip Nachane, Edited by B Kamaiah, et al, 2015( jointly with Dr Lakshmi Narasimhan)
  • Examining Overreaction in BSE using Event Study Approach for Stock Split Announcements, In International Journal of Engineering and Management Research, Vol.-3, Issue-1, February 2013,pp 47-56( Jointly by Sitangshu Khatua)
  • Indication of Overreaction with or without Stock Specific Public Announcements in Indian Stock market" Vikalpa, September 2014(Jointly with Sitangshu Khatua)
  • Subnational Capital Market Development for Municipal Financing, in the Economic Development, Human Welfare and Sustainability, Essays in Honour of Professor Basudeb Sahoo Felicitation Volume, Bimal K. Mohanty (ed), New Century Publications, 2011.
  • Islamic Banking and Finance: Future of the Financial World Order (with Shakeel Ahmed), LAP LAMBERT Academic Publishing,
  • An Insight into Debt Portfolio Benchmarks and Targets, with Walton Gilpin, Commonwealth Secretariat, London, February 2007.
  • Local Government Finance and Bond Market: India, ADB, Manila, 2004.
  • Conditional CAPM and Cross Sectional Returns: A Study of Indian Securities Markets, National Stock Exchange of India Monograph April 2003.
  • Asymmetric Volatility and Risk in Indian Securities Markets, Capital Markets Conference Volume of the UTI Institute of Capital Market, Mumbai, 2002.
  • Stock Price Behaviour in India, Asia-Pacific Development Journal, December 2002.
  • Index Futures and Stock Market Volatility: Evidence from Korea, Prabandhan, 2002.

Published Research Monographs

Scholarly Books

  1. Islamic Banking and Finance: Future of the Financial World Order (Paperback) by H. K. Pradhan (Author) Shakeel Ahamad (Author) Lap Lambert Academic Publishing 2012 May 

Chapters in Scholarly books

  1. TimesVarying Market Integration as a Regime Switching Process, Issue in Macroeconomics: A Quantitative Approach, 2015,  IUP Publications

Conference Proceedings-Refereed

  1. Branchless Banking : A Business Linkage for Financial Inclusion in India. Presented at the European Microfinance Conference, University of Agder, Kristiansand, Norway, Jun 10-12, 2013

Paper Presentations-Refereed


  1. Hedging in Indian Agricultural Commodity Markets under Different Risk Measures, paper presented at the  42nd Annual Conference of the Eastern Economic Association; Washington DC, 25-28 February, 2016
  2. Model of Access to Finance - SBLP / MBLP ? A field study from Hazaribagh (Jharkhand). Presented at  2nd International Workshop on Inclusive Finance : Making Finance and Insurance Markets Work for the Poor, XLRI Jamshedpur, September 13-15, 2013
  3. Empirical Analysis of Government of India Bond Market Liquidity. Presented at the India Finance Conference (IFC), Indian Institute of Management, Ahmedabad, December 18-20 ,2013
  4. Index based weather insurance  presented at  the International workshop  on Inclusive  Financial inNovation  Mar 1-3 2012 XLRI  ( Jointly  with Navroz Singh Dhillon
  5. Micro enterprise  financing , presented at the international workshop on inclusive financial inNovation , Mar 1-3 2012 . XLRI with Malcolm  Athaide 
  6. Presented a paper on `Financial Inclusion in India` at the Orissa Economic Association Annual Conference at Bhubaneswar during February 21-22, 2015.
  7. Risk Management in Government Debt; lead the Workshop on Risk Management for the DMO Nigeria, Abuja, January 14-18, 2008.
  8. Lead the Workshop on Effective Domestic Debt Workshop held at Kampala, Uganda, September 10-14, 2007.
  9. A Primer on Government Onlending: Conceptual, Regulatory and Institutional Issues, paper presented at the Workshop on Onlending at the Commonwealth Secretariat London, June 18-20, 2007
  10. Domestic and External Debt Management in Pacific Islands Countries, presented the Pacific Islands Forum Secretariat Suva, April 12, 2007.
  11. Domestic Debt Management presented at the Meeting of the Commonwealth Secretariat London during June 28-30, 2006, and participated by the 59 member countries of the Commonwealth
  12. Subnational Capital Market Development in India, paper presented at the Securities and Exchange Board of India (SEBI) International Conference on Emerging Securities Markets, Mumbai January 10-12, 2005
  13. Indias Economic Reform and Lessons for South Asia, paper presented at the National Economic Outlook Conference organized by the Malaysian Institute of Economic Research, Kuala Lumpur, December 7-8, 2004
  14. Bond Market Financing by Sub-national Governments: Indian Experience, paper presented at the International Association of Development Funds, Washington D.C. September 30-October 1, 2004
  15. External Debt Management: Some Reflections from India, presented at the Workshop on External Debt Management at the UN-ESCAP Bangkok, 6-7 July 2004


Text Books

Research Report

Working paper

  1. Time Varying Market Integration as a Regime Switching Process, Social Science Research Network(SSRN) Working Paper, April 30, 2004.

Key note presentation

Published articles in newspapers/magazines

Cases developed for Teaching purpose

Other Professional Activities

Contribution towards Institution building/ development/ services such as Chairperson (Placement) etc

Membership of Professional Bodies

  1. Member of the RBI Technical Advisory Committee (TAC) on Financial Markets
  2. Independent Director of the SBI Mutual Fund, Mumbai
  3. Member of the Board of Micro Credit Rating International Ltd 
  4. Member of the Index & Option Committee of NCDEX, Mumbai

Professional Services such as Member/Editor of Editorial Board/ Advisory Committee etc

  1. Pacific Regional Advisor for the Commonwealth Secretariat, London
  2. Resident Debt Advisor with the Ministry of Finance, Government of Fiji Islands, during 2005-07