Staff profile

Professor Balasingham Balachandran

Professor of Finance

College of Arts, Social Sciences and Commerce
La Trobe Business School
Department of Economics and Finance

Melbourne (Bundoora)

Qualifications

BCom (University of Jaffna), MSoSc in Accounting and Development Finance (University of Birmingham), PhD in Finance (University of Birmingham)

Membership of professional associations

American Finance Association, European Finance Association, Financial Management Association, Accounting and Finance Association of Australia and New Zealand, Financial Integrity Research Network

Area of study

Finance

Brief profile

Professor Balasingham Balachandran joined La Trobe University in February 2009. Prior to this he worked at Monash University, Victoria University of Wellington, New Zealand and University of Jaffna, Sri Lanka. He gained his Masters degree in Accounting and Finance and PhD in Finance from University of Birmingham, UK.

Dr Balachandran has led many successful research grant applications. Most notably he secured funding of more than $600k in competitive ARC Discovery grants; and also more than 300k in various university/industry grants.

He has published his research findings in leading international  journals:

  • Journal of Financial Economics
  • Journal of Financial and Quantitative Analysis
  • Journal of Corporate Finance
  • Journal of Applied Corporate Finance
  • European Financial Management
  • Pacific-Basin Fiance Journal
  • Accounting and Finance
  • Australian Journal of Management
  • Australian Tax Forum
  • European Journal of Finance
  • Multinational Finance Journal 
  • International Review of Financial Analysis
  • Global Finance Journal
  • Journal of Multinational Financial Management
  • Australian Economic Papers
  • Advances in Financial Education
  • Applied Financial Economics
  • Monash Business Review
  • Finance Letters. 

Dr Balachandran's work has been published in leading practitioners' journal "Journal of Applied Corporate Finance" published by Morgan Stanley.

Dr Balachandran's work has also been cited in national media.  

  • Paul Kerin (Professorial Fellow, Strategy, at Melbourne Business School ) cited Dr Balachandran’s work on “Earning management around buyback announcement in Australia”,  in his work “Buybacks and dividends offer value and send message about flexibility”  in The Australian dated 13 May 2008 in page 26 - see the following link: http://www.henrythornton.com/article.asp?article_id=5271
  • Ms Vanessa O'Shaughnessy from The Age news paper has interviewed Balachandran and published a story “The rights way to raise capital” on 8 Sept 2008 based on the paper published in Journal Financial Economics  - see the following link: http://www.theage.com.au/business/the-rights-way-to-raise-capital-20080907-4bhq.html

 

Research interests

Asset pricing and investment

- Please contact me to discuss a topic.

Capital market and asset pricing

- Please contact me to discuss a topic.

Corporate finance and governance

- Please contact me to discuss a topic.

Financial markets microstructure and information

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Quantitative finance

- Please contact me to discuss a topic.

Teaching units

BUA5MFN Management Finance

BUA5AMF Advanced Management Finance

FIN3CFI Corporate Finance

FIN1FOF Fundamentals of Finance

Recent publications

Refereed Journal Publications

  • Balachandran, B., Faff, R., 2015. Corporate Governance, Firm Value and Risk: Past, Present, and Future. Pacific-Basin Finance Journal (forthcoming). http://dx.doi.org/10.1016/j.pacfin.2015.07.002
  • Khan, A., Mather, P., Balachandran, B. 2014. Managerial Share Ownership and Operating Performance: Do Independent and Executive Directors have Different Incentives?, Australian Journal of Management (forthcoming).
  • Balachandran, B., Hanlon, D., Tu, H., 2013. Tax-Induced Earnings Management within a Dividend Imputation System, Australian Tax Forum 28 (3), 555-582.. 
  • Balachandran, B. Krishnamurti. C., Theobald, M. and Vidanapathirana, B., 2012. “Dividend Reductions, the Timing of Dividend Payments and Information Content" , Journal of Corporate Finance 18, 1232-1247.
  • Balachandran, B. Faff, R., Theobald, M. and Zijl, T., 2012.  “Rights Offerings, Subscription Period, Shareholder Takeup and Liquidity" , Journal of Financial and Quantitative Analysis 47(1), 213-239.
  • Balachandran, B. Faff, R. and Theobald, M., 2009.  “New Insights into Rights Offerings, Takeup, Renounceability, and Underwriting Status.”, Journal of Applied Corporate Finance 21(3), 85-88.
  • Balachandran, B., Faff, R.and Theobald, M., 2008, “Rights Offerings, Takeup, Renounceability and Underwriting Status”, Journal of Financial Economics 89, 328-346.
  • Balachandran, B., Faff, R., Love, R. and A.Menon, “The Impact of the Announcement of Acquisition of Divested Assets on Buyers’ Wealth - Asset Fit and Disclosure of Funds Used: Evidence from UK”, Multinational Financial Journal, 12, 219-240.
  • Balachandran, B., Chalmers, K. and J. Haman, 2008, “On-Market Share Buy-Backs and Earnings Management: Australian Evidence”, Accounting and Finance 48, 25-49.
  • Balachandran, B., Faff, R. and Nguyen, T.A., The Ex-Date Impact of Special Dividend Announcement, International Review of Financial Analysis 17, 635-643.
  • Balachandran, B., Thevathasan, A., 2008, Love Train?, Monash Business Review 4 (3), 30-31.
  • Balachandran, B., Skully.M, Watson, J. and K.Tant, 2006, Australian Evidence on Student Expectations and Perceptions of Introductory Business Finance, Accounting and Finance, 46 (5), 697–713.
  • Balachandran, B. and Faff, R. and Tanner, S., 2005, A Further Examination of the Price and Volatility Impact of Stock Dividends at Ex-Dates, Australian Economic Papers 44(3), 248-268.
  • Balachandran, B. and Faff, R. and Jong, L., 2005, Announcements of Bonus Share Options: Signalling of the Quality of Firms, Global Finance Journal 16(2), 180-190.
  • Balachandran, B. and Faff, R. and Love, R. and Menon, A., 2005, The impact of asset sales announcements – further evidence from Australia and the UK, Finance Letters, (June issue).
  • Balachandran, B., Faff, R. and Nguyen, T.A., 2004, The Intra-Industry Impacts of Special Dividend Announcements: Contagion versus Competition, Journal of Multinational Financial Management, 14, 369-385.
  • Balachandran, B. and Faff, R. and Tanner, S., 2004, Further Evidence on the Announcement Effect of Bonus Shares in an Imputation Tax Setting, Global Finance Journal, 15, 47-70.
  • Balachandran, B. and Nguyen, T.A., 2004, Signalling Power of Special Dividend in an Imputation Environment, Accounting and Finance, 44, 277-297.
  • Balachandran, B. and Faff, R., 2004, Special Dividends, Bonus Issues and On Market Buybacks: Signalling in an Imputation Environment, Finance Letters 2(1), 23-26.
  • Balachandran, B. and M. Skully, 2004, Student Perceptions of Introductory Business Finance: Accounting and Finance versus Other majors, Advances in Financial Education 2, 34-51.
  • Balachandran, B., 2003, UK Interim and Final Dividend Reductions: – A Note on Price Reaction, European Journal of Finance 9, 379-390.

 

Research projects

ARC Discovery Grant, 2014-2016, $180,000

Project Title: An international study on payout policy, information content, short selling and Long term market impact.

With Emeritus Professor Michael Theobald (University of Birmingham), Professor Rebert Faff (University of Queensland), Professor Patrick Vermejeren (Erasmus University), and Dr Huong Giang (Lily) Nguyen (La Trobe University).

 

ARC Discovery Grant, 2012-2014, $210,000

Project Title: An international study of seasoned equity offerings: long term returns, earnings management, liquidity, ownership structure, and financial crisis.

 1st Chief Investigator responsible for administering this project with Emeritus Professor Michael Theobald (University of Birmingham), Professor Ferdinand A. Gul (Monash University - Malaysia) and Dr Huu Duong (Monash University).

 

ARC Discovery Grant, 2006-2008, $224,000

Project Title: Asset Pricing, Signal Type and Overconfident Investors

1st Chief Investigator responsible for administering this project with Professor Michael Theobald (University of BirminghamK) and Professor Robert Faff (Monash University).