Mr. Parameswaran Srikant

Grant Category: Fulbright-Nehru Doctoral and Professional Research Fellow
Field of Specialization: Management (Finance)
Name: Mr. Parameswaran Srikant
Official Address and Designation:  Fellow Student--Finance and Control
Fellow Program and Research Office
Indian Institute of Management (IIM), Calcutta
Diamond Harbour Road Joka
Kolkata 700 104
West Bengal  
Telephone (O): 91-9163656187
Duration of Grant: Nine Months                        
Project Title: Corporate Governance and Securities Lending
Abstract of Project :
My present interests lie in how the control aspect of finance impacts firms and markets, specifically the linkages between corporate governance and securities lending. Better disclosure communicates fair values to the market, and reduces the likelihood that stocks become overpriced and candidates for shorting. Managers may take actions to keep stock prices high in the short term, even when this is inconsistent with long term shareholder value maximization. The supply of stock available for lending is affected by levels of institutional shareholding, which is determined by governance practices. Borrowing stock is also a means to gain corporate control. While an attempt to establish institutional arrangements for securities lending comparable to U.S. markets has been made, this is as yet unsuccessful. However, a liquid single stock futures market in India provides an alternative to borrowing and shorting, and borrowing rates can be implied from these contracts and contrasted with disclosure indices.

Academic Background :
Fellow Program in Management (Ph.D.) Finance and Control IIM, Calcutta 2009 – till date
M.B.A. Finance and Economics IIM, Calcutta 2002
B.E. Computer Engineering University of Delhi, Delhi 2000
Professional Background:
Vice President Deutsche Securities Asia Limited, Hong Kong 2008 - 2008
Manager Barclays Capital Asia Limited, Hong Kong 2006 -2007
Associate Lehman Brothers, Japan 2002-2005
Mr. Parameswaran Srikant