Dr. Kalyani Mulchandani
Professor
Areas Of Expertise
Corporate Finance, Financial Derivatives, Management Accounting and Control, Accounting for Managers
Bio
Dr. Kalyani Mulchandani is a Professor at N. L. Dalmia Institute of Management Studies and Research, Mumbai. She holds a PhD in Management, MBA, MS (Finance) and Bloomberg Market Concepts (BMC) and ESG certification from Bloomberg LP, USA. Dr. Mulchandani’s research interests include corporate governance, financial markets, environmental, social and governance (ESG) factors and earnings management. With over 15 years of experience in academia, she specialises in earnings management and corporate governance. She has published numerous research papers in reputed international journals indexed by ABDC and Scopus and presented her work at various national and international conferences. In addition to research and teaching, she is a reviewer of ABDC category journals. She has conducted Management Development Program sessions for industry professionals, focusing on financial analysis and business health, bridging theoretical insights and practical applications in finance.
Qualifications
Ph.D., MBA, UGC-NET, DBF, ADBF
Teaching Interests
Corporate Finance, Derivatives and Risk Management, Management Accounting and Control
Publications
Mulchandani, K., Ganguli, S. K., & Mulchandani, K. (2025). Optimizing earning quality in bank finance: a theoretical model and empirical investigation in India. Cogent Economics & Finance, 13(1), 2455386.
Usman, M., Mulchandani, K., Mulchandani, K., & Salem, R. (2025). Governance in action: How board characteristics mitigate cash flows classification shifting? The moderating role of financial constraints. Journal of Accounting Literature, 1-35.
Jasrotia, S. S., Mulchandani, K., Mulchandani, K., Puthran, S., D’souza, D., & Pereira, K. (2025). From profitability to bankruptcy: GoFirst’s downfall in the competitive Indian aviation industry. The CASE Journal.
Wasan, P., Luthra, S., Mulchandani, K., & Vishnani, S. (2025). Interplay Between Financial Markets, Environmental Stewardship, Gender Diversity, and Firm Size in Emission‐Intensive Sectors of Emerging Asian Economies: A Board‐Level Perspective. Business Strategy and the Environment,
34(2), 2139-2166.
Mulchandani, K., Mulchandani, K., & Vishnani, S. (2025). Impact of ESG reporting on earnings quality: evidence from India and influence of COVID-19. Macroeconomics and Finance in Emerging Market Economies, 18(1), 178-197.
Sridhar, I., Mulchandani, K., Jasrotia, S. S., & Mulchandani, K. (2025). The interplay between board characteristics and governance scores: role of family ownership. International Journal of Corporate Governance, 15(4), 413-432.
Mulchandani, K., Mulchandani, K., & Jain, M. (2024). Firm's life cycle and cash flow classification: evidence from Indian firms. Asian Review of Accounting, 32(3), 443-462.
Mulchandani, K., & Mulchandani, K. (2024). Do the Big Four Accounting Firms Limit Earnings Management? Pre-and Post-Covid Evidence from India. IUP Journal of Accounting Research & Audit Practices, 23(2).
Wasan, P., & Mulchandani, K. (2024). Financial decision dynamics: Environmental, social, and governance factors and managerial choices in emerging markets. Journal of General Management, 03063070241286637.
Jasrotia, S. S., Mulchandani, K., & Srivastava, S. (2023). Drivers of experiential loyalty intentions towards online travel agents: a comparative analysis on pre-and post-COVID travellers. Consumer Behavior in Tourism and Hospitality, 18(4), 563-586.
Mulchandani, K., Jasrotia, S. S., & Mulchandani, K. (2023). Determining supply chain effectiveness for Indian MSMEs: A structural equation modelling approach. Asia Pacific Management Review, 28(2), 90-98.
Mulchandani, K., Mulchandani, K., & Jain, M. (2023). Do institutional investors care about ESG performance: evidence from India. International Journal of Indian Culture and Business Management, 29(1), 136-149.
Mulchandani, K., & Mulchandani, K. (2022). Does institutional ownership limit classification shifting: evidence from Indian firms. International Journal of Disclosure and Governance, 19(4), 466-477.
Mulchandani, K., Mulchandani, K., Iyer, G., & Lonare, A. (2022). Do equity investors care about environment, social and governance (ESG) disclosure performance? Evidence from India. Global Business Review, 23(6), 1336-1352.
Mulchandani, K., & Mulchandani, K. (2022). Do independent directors and big-4 audit firms limit classification shifting: evidence from Indian firms. Managerial Finance, 48(12), 1754-1770.
Wasan, P., Mulchandani, K., & Mulchandani, K. (2022). Do changes in deferred revenue indicate future financial performance? Evidence from India. Journal of International Accounting, Auditing and Taxation, 46, 100441.
Mulchandani, K., Mulchandani, K., & Jasrotia, S. S. (2021). Does gender diversity on firm’s board affect dividend payouts? Evidence from India. Future Business Journal, 7(1), 25.
Mulchandani, K., Mulchandani, K., & Wasan, P. (2020). Dividends and earnings quality: Evidence from India. IIMB Management Review, 32(2), 166-176.
MDP Conducted
Bayer Pharmaceutical on Analyzing Business Health of Channel Partners (2023), Reading Financial Statements for Clover Infotech (2023)
Paper Presented
• Paper presented in “India Finance Conference” at Indian Institute of Management, Raipur, (19th December 2024 to 21st December 2024). The paper title is "Do Dividends Payments Signals Honesty? Association Between Dividends and the Earnings Management: Evidence from Emerging Market"
• Paper presented in “International Finance & Accounting Conference” at Indian Institute of Management, Jammu, (8th and 9th September 2023). The paper Title is “Do Firms Trade Favors within Business Groups to Avail External Financing? Moderating Role of Audit Quality using Panel-data Analysis and FuzzyQCA Approach.
• Paper titled “Firm’s Life Cycle on Cash Flow Classification: Evidence from Indian Firms “ was presented in the 6th Annual Symposium of Asian Review of Accounting 2023 (30th June -1st July).
• Paper presented in "International Conference on Finance and Business Analytics 2021" at the School of Commerce, Finance and Accountancy and School of Business and Management CHRIST (Deemed to be University), Pune Lavasa Campus (21st May 2021). The paper Title is "Environmental, Social and Governance (E.S.G.) Score and Its Impact on Corporate Financial Performance: An Evidence from India"
(Received Best Paper Award)
• Paper presented in AICTE Sponsored International Management e-conference on "Industry 4.0: Transforming Economy Through Innovative Management Practices" at I.P.S. Academy, Institute of Business Management and Research, Indore (December 11th - 12th, 2020). Paper Title is "Impact of Non-Interest Income on Financial Performance of Select Banks Operating in India"
• Paper presented in 3rd International Conference on Business, Economics and Sustainable Development (ICBESD-2020) at TERI School of Advanced Studies in Collaboration with National Institute of Securities Market (NISM), Navi Mumbai (March 2nd – 3rd 2020). Paper Title is "Board Characteristics, Institutional Shareholding and Bank's Performance: Evidence from Indian Banking Sector"