Professor Abhinav Goyal

The Department of Finance
Chair in Finance
Business School Director of Global Engagement

Contact details

Telephone
+44 (0)121 414 4966
Email
a.k.goyal@bham.ac.uk
View my research portal
Address
Birmingham Business School
University of Birmingham
Edgbaston
Birmingham
B15 2TT
UK

Abhinav Goyal is a Professor of Finance and Director of Global Engagement at the Birmingham Business School. He holds a PhD in Finance from University College Dublin, Ireland. His research interest lies in IPOs, privatization, cash holding, and dividends with a focus on corporate governance.

Dr Goyal's recent research has appeared in leading academic journals including the Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Econometrics, and Journal of Corporate Finance. He is currently the Associate Editor for British Accounting Review. In past, Dr. Goyal has held positions at University College Cork and University of Liverpool, and visiting positions at Monash University, Xi'an Jiaotong-Liverpool University, and Manipal University.

ORCID

Qualifications

  • Ph.D. in Banking and Finance, University College Dublin, Ireland, 2013
  • M.A. in Financial Risk Management, Simon Fraser University, Canada, 2007
  • B.E. (Hons.) in Computer Science, India, 2006

Teaching

  • Contemporary Topics in Banking and Finance (MBA)
  • Private Equity and Venture Finance (M.Sc.)

Research

Research interests include:

  • Initial Public Offering
  • Corporate Governance
  • Corporate Outcomes
  • Privatization
  • Emerging Markets
  • Institutional Factors

Other activities

Editorial Board 

  • Associate Editor for British Accounting Review
  • Area Editor (Frontier Markets) for Research in International Business and Finance

Publications

Recent publications

Article

Chen, Y, Duong, HN, Goyal, A & Veeraraghavan, M 2023, 'Social capital and the pricing of initial public offerings', Journal of Empirical Finance, vol. 74, 101418. https://doi.org/10.1016/j.jempfin.2023.101418

Duong, HN, Goyal, A, Kallinterakis, V & Veeraraghavan, M 2022, 'Democracy and the pricing of initial public offerings around the world', Journal of Financial Economics, vol. 145, no. 1, pp. 322-341. https://doi.org/10.1016/j.jfineco.2021.07.010

Chen, Y, Goyal, A & Zolotoy, L 2022, 'Global board reforms and the pricing of IPOs', Journal of Financial and Quantitative Analysis, vol. 57, no. 6, pp. 2412-2443. https://doi.org/10.1017/S0022109021000223

Chen, Y, Chui, ACW, Goyal, A & Veeraraghavan, M 2022, 'Societal secrecy and IPO underpricing', Journal of Corporate Finance, vol. 76, 102257. https://doi.org/10.1016/j.jcorpfin.2022.102257

Flavin, T, Goyal, A & O'Connor, T 2021, 'Corporate governance, life cycle, and payout precommitment: an emerging market study', Journal of Financial Research, vol. 44, no. 1, pp. 179-209. https://doi.org/10.1111/jfir.12238

Karaa, R, Slim, S, Goodell, JW, Goyal, A & Kallinterakis, V 2021, 'Do investors feedback trade in the Bitcoin—and why?', European Journal of Finance. https://doi.org/10.1080/1351847X.2021.1973054

Huang, W, Goodell, JW & Goyal, A 2021, 'In times of crisis does ownership matter? Liquidity extraction through dividends during the 2007–2009 financial crisis', Journal of International Financial Markets, Institutions and Money, vol. 73, 101380. https://doi.org/10.1016/j.intfin.2021.101380

Duong, HN, Goyal, A, Kallinterakis, V & Veeraraghavan, M 2021, 'Market manipulation rules and IPO underpricing', Journal of Corporate Finance, vol. 67, 101846. https://doi.org/10.1016/j.jcorpfin.2020.101846

Goodell, JW, Goyal, A & Urquhart, A 2021, 'Uncertainty of uncertainty and firm cash holdings', Journal of Financial Stability, vol. 56, 100922. https://doi.org/10.1016/j.jfs.2021.100922

Goodell, JW, Goyal, A & Hasan, I 2020, 'Comparing financial transparency between for-profit and nonprofit suppliers of public goods: Evidence from microfinance', Journal of International Financial Markets, Institutions and Money, vol. 64, 101146. https://doi.org/10.1016/j.intfin.2019.101146

Chen, Y, Goyal, A, Veeraraghavan, M & Zolotoy, L 2020, 'Media coverage and IPO pricing around the World', Journal of Financial and Quantitative Analysis, vol. 55, no. 5, pp. 1515-1553. https://doi.org/10.1017/S0022109019000486

Chen, Y, Goyal, A, Veeraraghavan, M & Zolotoy, L 2020, 'Terrorist attacks, investor sentiment, and the pricing of initial public offerings', Journal of Corporate Finance, vol. 65, 101780. https://doi.org/10.1016/j.jcorpfin.2020.101780

Espenlaub, S, Goyal, A & Mohamed, A 2020, 'The impact of shareholders and creditors rights on IPO performance: An international study', British Accounting Review, vol. 52, no. 1, 100872. https://doi.org/10.1016/j.bar.2019.100872

Goyal, A, Jategaonkar, SP & Muckley, CB 2020, 'Why do privatized firms pay higher dividends?', Journal of Corporate Finance, vol. 60, 101493. https://doi.org/10.1016/j.jcorpfin.2019.101493

Wang, C, Ye, Q & Goyal, A 2019, 'Does tenure matter: Role of the corporate secretary in chinese-listed firms', Accounting Horizons, vol. 33, no. 1, pp. 181-205. https://doi.org/10.2308/acch-52225

View all publications in research portal