About Us

Professor Rajeev R. Bhattacharya, Ph.D. has over twenty-five years’ research, consulting, management, and teaching experience in finance, economics, and Big Data. 

He has served on the full-time faculty of University of Maryland, Washington University in St. Louis, and University of New South Wales. He teaches financial economics, capital markets, derivatives, applied microeconomics, and industrial organization. 

His book “Uncertainty and Risk, Theory and Empirics: With Applications to Big Data in Finance,” World Scientific, London, 2023, is forthcoming, with the foreword by Raghu Sundaram, Dean and Edward I. Altman Professor of Credit and Debt Markets, Leonard N. Stern School of Business, New York University; and endorsements from leading scholars such as Glenn MacDonald, John M. Olin Distinguished Professor of Economics and Strategy, Olin Business School, Washington University in St. Louis; Tom Smith, Professor, Department of Applied Finance, Macquarie University; and Mahendra Gupta, Former Dean and Geraldine J. and Robert L. Virgil Professor of Accounting and Management, Olin Business School, Washington University in St. Louis.

In addition, “Diligence, Objectivity, Quality, and Accuracy,” with Mahendra Gupta, professor of accounting and former dean, Olin Business School, Washington University in St. Louis, is forthcoming at the Journal of Accounting Literature. His recent article with Joe Bial and Alex Evans, “It is Imperative to Perform Event Studies Only With High-Frequency Intraday Data for Securities Litigations,” is now the leading article in the “Academic Articles” section of the Stanford Law School Securities Class Action Clearinghouse (repository of academic articles that Stanford Law School deems the most important for securities class actions).

https://securities.stanford.edu/resources-academic.html

He has recently finalized his papers, after presenting them at six academic seminars at leading institutions, on a structural study of market efficiency using intraday equity and fixed income securities data, hundreds of trillions of observations, over 30 TB of data, where he demonstrates that this work makes redundant all previous work on market efficiency, especially in the context of securities class actions. Mahendra Gupta and he have found, after presenting at eight academic seminars at leading universities, that the impact of FINRA 2241 has been insignificant. 

He also writes extensively on the frontiers of quantitative methods. He has recently published a book “Options and Market Efficiency: A Big Data Approach.” He has also published highly-regarded articles in leading journals on securities class actions and efficiency of capital markets; options; capital asset pricing model (CAPM); agency theory; price wars and pricing; trust (over 1,300 citations); and other topics, in journals such as Berkeley Business Law Journal (“the top commercial law journal in the country”), Annals of Financial Economics, Journal of International Business and Law, Journal of Business, Entrepreneurship and the Law, Santa Clara Law Review, and Academy of Management Review (the best journal in management), in conference proceedings such as those of the Econometric Society (the leading scholarly organization for quantitative economics and finance); and in the Palgrave Encyclopedia (the ultimate authority on scholarly writing). 

Dr. Bhattacharya has extensive management experience with leading large and small teams of professionals and delivering with tight deadlines and impeccable quality; he has worked with leading consulting firms such as Boston Consulting Group, Law & Economics Consulting Group, and Berkeley Research Group (where he was Managing Director). 

He has been a testifying expert on a number of matters including level of efficiency of the market for a stock and its implications for the use of market price as an approximation for value; harm to investors under allegations of securities manipulation; measuring harm as a result of delays in delivery of options, warrants and other derivatives; class certification and damages in a class action; tying and price fixing; impact of alleged vertical foreclosure on price, quantity and quality; violation of intellectual property; and profits lost by a retailer due to directory error. 

As a manager and consulting expert in finance and Big Data, Dr. Bhattacharya has applied state-of-the-art and innovative economic and econometric methods (especially event studies) to litigation and regulation matters involving fraud on the market, including market manipulation (e.g., stocks, auction rate securities) and insider trading issues; impact of trades; best execution by financial institutions; trading by market makers and broker-dealers (e.g., interpositioning, trading ahead and front running); valuation of firms and portfolios; bankruptcy and fraudulent conveyance; book building, orders and laddering in public offerings; conflict of interest in analyst reports; and other issues involving stocks, bonds, options, warrants and other derivatives. He has advanced programming skills in SAS, and has over fifteen years’ experience supervising programming in SAS and Stata. As a leader and consulting expert in applied microeconomics, he has applied advanced economic and statistical methods to complex litigation matters involving commercial disputes; market definition; monopolization; price fixing; single entity defense; off-label marketing; lost profits and reasonable royalties; price erosion; bankruptcy and fraudulent conveyance; tying; and auctions; across a variety of industries. He has also served as an expert in many class actions and damages matters. 

Professor Bhattacharya has a Ph.D. in economics from the University of Rochester. He has been declared an Outstanding Researcher by the U.S. Federal Government.