B. V. Phani

B. V. Phani

Fellow in Management (IIM Calcutta)

Professor, Finance and Entrepreneurship:Department of Industrial and Management Engineering (IME)
Dean Resources & Alumni (DoRA): Office of Resources and Alumni (R&A)
Associate Dean Innovation & Incubation (ADII): Office of Research and Development (R&D)
Coordinator: SIDBI Innovation Incubation Center (SIIC)
Coordinator: Syndicate Bank Entrepreneurship Research and Training Center (SBERTC)
Chairman: Investment Committee


Research Interest


  • PhD, 1995-2003 IIM Calcutta
    Thesis Title:Insider Ownership, Corporate Governance and Corporate Performance (An Empirical study of Indian Manufacturing Sector 1989-2000)
    Thesis Supervisor:Prof. N Ramachandran
  • BE (Mech), 1982-86, MVSR Engineering College, Osmania University


  • Financial Management

  • Security Analysis Derivatives and Portfolio Management

  • Commercial Banking Risk Management and Risk Modeling

  • Accounting for Management

  • Financial Intermediaries

  • Financial Institutions and Regulators

  • Corporate Finance

  • Financial Modeling

  • Management of Financial Services

  • Mergers & Acquisitions

  • Fundamentals of Futures and Options

  • Entrepreneurial Finance

  • Innovation and Entrepreneurship

  • Market Microstructure

  • Dmitri G. Markovitch , Dongling Huang , Lois Peters , B.V. Phani , Deepu Philip , William Tracy , (2014) "Escalation of commitment in entrepreneurship-minded groups", International Journal of Entrepreneurial Behaviour & Research, Vol. 20 Iss: 4, pp.302 - 323

  • Saranga, H. and Phani, B. V. (2009), Determinants of operational efficiencies in the Indian pharmaceutical industry. International Transactions in Operational Research, 16: 109–130. doi: 10.1111/j.1475-3995.2009.00668.

  • Chinmoy Ghosh, John Harding & B.V.Phani, 2008, Does Liberalization Reduce, Agency Costs? Evidence from the Indian Banking Sector, Journal of Banking and Finance, Volume 32, Issue 3, March 2008

  • B.V. Phani, Chandra Bala and Vijay Raghav, 2011, "Quest for Efficient Option Pricing Prediction model using Machine Learning Techniques, International Joint Conference on Neural Networks", San Jose, California, July 31 - August 5, 2011

Finance Domain

  • Supriya Katti & B V Phani, "The Effect of Business Group Affiliation and Diversification on the Pricing of New Equity Issues" , IAMB, Rome, Italy, Sep 17-19, 2014.

  • B.V.Phani, Steen Thomsen, Supriya Katti, 2014, "Board Structure and Ethnicity-A exploratory study on the board composition in India", Center for Corporate Governance, Copenhagen Business School, 23rd May, 2014

  • Kunal & B.V.Phani 2013, Shades of FDI Capital, Business Group Affiliation and Excess Value Creation in Indian Economy, IV World Finance Conference, Cyprus, July 1-3, 2013

  • B V Phani, Chinmoy Ghosh, James Hilliard, 2012, "Exogenous Change in Distribution of Voting Rights and Firm Value: An Analysis of Voting Cap in Indian Banks", III World Finance Conference, Rio de Janeiro, July 2-4, 2012,

Entrepreneurship Domain

  • B.V.Phani, 2012, Incubation Models in the Indian Ecosystem, NUS-Stanford Roundtable, Innovative Models for Start-Up Incubation in Asia, Dec 6-7, 2012 –Singapore

  • Markovitch, D., Peters, L., Phani, B.V., Philip, D., and Tracy, W.,"Managerial Search: An empirical inquiry" Academy of Management 2012 Conference - August 2012.

  • Markovitch, D., Peters, L., Phani, B.V., Philip, D., and Tracy, W., 2011, "Hill Climbing vs. Goal Oriented Simulated Annealing: An empirical enquiry into how managers search", Academy of Management Conference, San Antonio 2011

Finance Domain

  • Katti Supriya & B V Phani, "Underwriter Reputation, Regulatory Constraint and IPO Underpricing: Testing of Certification Hypothesis in Indian Market"

  • Katti Supriya & B V Phani, " Business Group, Diversification and IPO Underpricing"

  • Katti Supriya & B V Phani, "A Review of Role of Exogenous and Endogenous Factors in IPO Underpricing"

  • Katti Supriya & B V Phani, 2013, "Regulatory Price, Premium and Performance of Qualified Institutional Placements (QIP) in India"

  • Katti Supriya & B V Phani, 2013, "Underwriter Reputation, Regulatory Constraint and Underpricing: Testing of Certification Hypothesis in Indian IPO Market"

  • Kunal & B.V. Phani, 2013, "Selective Intervention Policy towards Foreign Direct Investment and its Impact on the Economy-An Empirical Investigation of Indian Firms and Markets"

Entrepreneurship Domain

  • Markovitch, D., Peters, L., Phani, B.V., Philip, D., and Tracy, W., "The impact of entrepreneurial proclivity on choice in an escalation of commitment dilemma"

  • Markovitch, D., Peters, L., Phani, B.V., and Philip, D., "Do Entrepreneurial Intentions Predict Investment in an Escalation of Commitment Dilemma?"

  • Track Safe: Decision Support System to Enhance Safety of Railway Track Workers with Prof. Deepu Philip

  • Assessment of online services under mission mode programme of Commercial Taxes Department of UP with Prof. Deepu Philip

  • Feb 2004-Feb 2005, Assistant Professor, Finance Group, IIM Calcutta

  • Feb 2005-April 2009, Assistant Professor, IME Dept, IIT Kanpur

  • April 2009- 2015, Associate Professor, IME Dept, IIT Kanpur

  • Dec 91-95, Chief Executive Officer (CEO), Blue Chip Info Tech (BCIT) Ltd

Other Responsibilities

  • Member, Endowment Committee

  • Member, Institute Research and Development Council (IRDC)

  • Counselor, Sports Council

  • Member, Industry Collaboration Advisory Group (ICAG)

  • Member, Core Committee, 4i Lab

  • Faculty Coordinator, Entrepreneurship Cell

Board Positions

  • 2014-Till Date Member, Working Group for Development of Innovation and IP in ESDM Sector, Ministry of Communication & Information Technology (MCIT), GoI

  • 2014-Till Date Member, Advisory-cum-Monitoring Committee of the Biotech Park, Lucknow, Department of Biotechnology (DBT), GoI

Conference Positions

  • 2009-Till Date Chair Annual Global Conference on Entrepreneurship and Technological Innovation (AGCETI)

  • 2008 Co-Chair National Workshop on Intellectual Property Rights, 25th Feb to 29th Feb 2008, IIT Kanpur.

Editorial Responsibilities

  • 2008-Till Date Area Editor Management Review, Indian Institute of Management Bangalore

  • 2008-Till Date Member Editorial Review Board, Decision, Indian Institute of Management Calcutta

  • 2007-Till Date Reviewer Annual Eastern Finance Association Meetings


  • 2014, Best Young Scholar Paper Award, IAMB, Rome, Italy, Sep 17-19,"The Effect of Business Group Affiliationand Diversification on the Pricing of New Equity Issues" Supriya Katti & B V Phani

  • 2011, Most promising paper award – Academy of Management, San Antonio 2011 – "Hill Climbing vs. Goal Oriented Simulated Annealing: An empirical enquiry into how managers search", Tracy, W., Markovitch, D., Peters, L., Phani, B.V., and Philip, D.

  • 2012, Embedded and Critical Systems Award - Innovation Awards, 22 November 2012, London – for TrackSafe: Decision Support System to Enhance Safety of Railway Track Workers – part of Bombardier Transportation project jointly funded by ISTP Canada, Bombardier, and GITA India – team of Loutfy, R., Sood, P., Phani, B.V., and Philip, D.

  • 2003, National Stock Exchange Research Initiative award for Research

  • 2001, Copenhagen Business School's, Aage & Yelva Nimb Foundation award, for doctoral research.

  • 2000, PD Agarwal-TCI award of doctoral research

  • 1999, London Business School's A.V. Birla award for doctoral research


  • 2011, National Award for Best Technology Incubator along with a cash award

  • 2010-2014, Entrepreneur in Residence, Walter G Booth School of Engineering Practice, Mc Master University, Canada


200, Department of IME
Faculty Building 270/ SIIC S-7


Email: dora[AT]iitk.ac.in

Office Phone: 0512-259-6646 / 7834 / 6606 (O)

Fax: 0512-259-7553 / 0353

Email: bvphani[AT]iitk.ac.in