Capital Markets, with a focus on their interfaces with
Small and Medium Enterprises (SMEs)
Political influences
Mutual Funds
Avinash Ghalke has worked in academia and industry for more than 20 years. He holds a Ph.D. from SJMSOM, IIT Bombay, and has completed his PGDBM in Finance and Systems from XLRI, Jamshedpur. He is the recipient of the prestigious CFA Charter from the CFA Institute, USA.
His professional journey has been marked by diverse experiences across various sectors, including Investment Research, Information Technology, Entrepreneurship, and Academia. His roles as an Associate Professor of Finance have provided him with a platform to nurture and guide students in the intricate fields of finance and accounting. Furthermore, he has extended his reach by engaging in executive training programs, covering topics such as capital markets, corporate finance, and excel modeling, catering to the needs of working professionals.
Avinash’s research interests are centered around capital markets, with a focus on their interfaces with Small and Medium Enterprises (SMEs), political influences, and mutual funds. His contributions to academia are exemplified by his research work, which has found its way into numerous international journals.
Ph.D. – 2019
Focus: Finance
PGDBM, 2006
Major/Specialisation: Finance and Systems
BE 2001
Major/ Specialisation: Computer Engineering
Small and Medium Enterprises (SMEs)
Political influences
Mutual Funds
Ghalke, A, Sensarma, R, Chakraborty, S, & Kakani R, 2023, “Stock markets and economic uncertainty: Roles of legislative sessions and coalition strength”, European Journal of Political Economy, Vol 78, June 2023. (ABDC-A)
Ghalke, A., Kumar, S., Kakani, R., & Rao, K., 2023, “New moon day anomalies of Amavasya and Muhurat Trading: Gestalting the role of culture and institutions”, IIMB Management Review, Vol 35, Issue 2, 137-148. (ABDC-B)
Jadiyappa, N, Shrivastava, S, & Ghalke, A, 2023, “Social responsibility, moral hazard, and collateral requirement: Evidence from a quasi-natural experiment in India”, International Review of Finance, 23(1), pp.27-36. (ABDC-A)
Ghalke, A, Haldar, A & Kumar, S, 2023, “Family firm ownership and its impact on performance: Evidence from an emerging market”, Review of Managerial Science, 17, 493-512. (ABS-2)
Ghalke, A, Kumar, S and Rao SVDN, 2022, “SME financing through public equity: Review of the Indian SME Exchanges”, Indian Growth and Development Review, Vol. 15 No. 1, pp. 85-97. (ABDC-B)
Ghalke, A and Kulkarni, S, 2022, “Mutual fund manager turnover: An empirical investigation of performance”, International Journal of Managerial Finance, Vol. 18 No. 5, pp. 869-887. (ABDC-A)
Ghalke, A., 2021, “Critical Perspectives on Public Systems Management in India-Through the Lens of District Administration” Prabandhan: Indian Journal of Management 14.5-7, 89-91. (Scopus listed)
Ghalke, A., Chakravorty, C., and Rao, SVDN, 2018, “Earnings Management in IPO Bound Firms: Evidence from Indian SME Exchanges” Asian Economic and Financial Review, 8 (8), 1126-1139 (ABDC-C)
Ghalke, A, Kakani, RK and Varma, H, 2022, Pythagoras Global: Emerging Market Funds and the conundrum of Family Ownership, Ivey Publication
Ghalke, A., Chakravorty, C., and Rao, SVDN, 2018, “Have SME exchanges in India delivered on their promises?”, 3rd International Conference on Financial Markets & Corporate Finance, IITK
Ghalke, A., and Kakani, R., 2006, “Efficient Market Hypothesis: Parliament effect on Indian Stock Markets” XLRI Working Paper
Core Course: Corporate Finance
Elective Courses: Financial Planning & Wealth Management, Corporate Valuation, Financial Modeling
Associate Professor, S. P. Jain Institute of Management & Research. (Oct 2023 – Present)
Associate Professor, Goa Institute of Management. (Mar 2022 – Sep 2023)
Associate Professor, Institute of Management Technology, Nagpur. (Mar 2020 – Mar 2022)
Associate Professor, Xavier Institute of Management and Research, Mumbai. (Oct 2016 – Feb 2020)
Chair, Management Development Programs and Consultancy, Goa Institute of Management (Jul 22-Sep 23)
Controller of Examinations, IMT Nagpur and XIMR (Mar 17-Mar 22)
Designation : Finance Controller
Designation : Director & Promoter
Designation : Senior Project Manager
Designation : Senior Associate
Designation : Associate, European Oil and Gas Team
Designation : Team Member, US Small Cap Stock Research
Designation : Systems Engineer
Designation : Research Associate
Management/Executive Development, HPCL (Jun – Sep, 2023)
Management/Executive Development, HPCL (Aug – Sep, 2022)
Management/Executive Development, HPCL (Jul – Aug, 2022)
Management/Executive Development, GIPARD (Jul 2022)
Reviewer for International Review of Financial Analysis (ABDC-A), and International Journal of Managerial Finance (ABDC-A)
Corporate Finance
Corporate Valuation
Financial Modeling
Member of the CFA Society