DHARANI MUNUSAMY

Assistant Professor & Area Chair Finance and Accounting +91-7900444090 (Ext-245) dharani@iimkashipur.ac.in


Dr. Dharani Munusamy earned his PhD in Finance from Pondicherry University. His PhD dissertation was on the “Behaviour of the Shariah Compliant Shares in India – An Empirical Study”. This research explores the risk and return of the Shariah and Non- Shariah stocks in the Indian stock market. He has received Bharath Rathna Dr. B.R. Ambedkar Gold Medal for his outstanding performance in the M.Phil. course. Before joining IIM Kashipur, he had worked with IBS-Hyderabad and Loyola College, Chennai. He has teaching experience in Accounting for Managers, Financial Accounting, Cost and Management Accounting, Corporate Finance, Portfolio Management, and Taxation. His research interest includes Shariah investment, investor sentiments, asset pricing, volatility modelling, financial development and growth. He has publications in peer-review journals like The World Economy, International Review of Economics and Finance, Global Finance Journal, International Economics and Economic Policy, Research in International Business and Finance, International Journal of Finance and Economics, Review of Behavioral Finance, among others.

  • Dharani, M., Hassan, M. K., Abedin, M. Z., & Ismail, M. A. (2021). Does a search attention index explain portfolio returns in India?. Borsa Istanbul Review. https://doi.org/10.1016/j.bir.2021.04.003
  • Swamy, V., & Dharani, M. (2021). Thresholds in finance–growth nexus: Evidence from G‐7 economies. Australian Economic Papers, 60(1), 1-40.
  • Swamy, V., & Dharani, M. (2020). Thresholds of financial development in the Euro area. The World Economy, 43(6), 1730-1774.
  • Swamy, V., & Dharani, M. (2020). Google Search Intensity and the Investor Attention Effect: A Quantile Regression Approach. Journal of Quantitative Economics, 18(2), 403-423.
  • Swamy, V., & Dharani, M. (2020). The tipping point of financial development?–evidence from OECD countries. International Economics and Economic Policy, 17(1), 125-165.
  • Swamy, V., Dharani, M., & Takeda, F. (2019). Investor attention and Google Search Volume Index: Evidence from an emerging market using quantile regression analysis. Research in International Business and Finance, 50, 1-17.
  • Swamy, V., & Dharani, M. (2019). The dynamics of finance-growth nexus in advanced economies. International Review of Economics & Finance, 64, 122-146.
  • Swamy, V., & Dharani, M. (2019). Investor attention using the Google search volume index–impact on stock returns. Review of Behavioral Finance, 11(1), 56-70.
  • Munusamy, D. (2019). Does Ramadan influence the returns and volatility? Evidence from Shariah index in India. Journal of Islamic Accounting and Business Research, 10(4), 565-579.
  • Yadav, S. K., & Dharani, M. (2019). Prioritising of banking firms in India using entropy-TOPSIS method. International Journal of Business Innovation and Research, 20(4), 554-570.
  • Dharani, M., Hassan, M. K., & Paltrinieri, A. (2019). Faith-based norms and portfolio performance: Evidence from India. Global Finance Journal, 41, 79-89.
  • Munusamy, D. (2018). Islamic calendar and stock market behaviour in India. International Journal of Social Economics, 45(11), 1550-1566.
  • Swamy, V., & Dharani, M. (2018). An alternate approach in exploring the causal link between financial development and economic growth—Evidence from advanced economies. International Journal of Finance & Economics, 23(1), 55-76.
  • Muruganandan, S., Vijayakumar, N., & Dharani, M. (2017). Impact of us Stock Market and Oil Price on Bric Stock Markets and their Interdependency. Journal of Contemporary Research in Management, 12(4), 79-87.
  • Swamy, V., & Dharani, M. (2016). Analyzing the agricultural value chain financing: approaches and tools in India. Agricultural Finance Review, 76(2), 211-232.
  • Dharani, M. (2016). The Day of The Week Effect On Returns, Volatility, And Volume Of Shariah Index. The Empirical Economics Letters, 15(6), 615-625.
  • Munusamy, D. (2015). Perception and Awareness of an Ethical Investor’s About the Shariah Investment in India. International Journal of Economic Research, 12(4), 1051-1066.
  • Munusamy, D., Narayanamoorthy, V., & Natarajan, P. (2015). An empirical study on volatility pattern of the Shariah compliant stocks in Indian capital market. Journal of Economic Policy and Research, 10(2), 150-165.
  • Vijayakumar, N., Dharani, M., & Muruganandan, S. (2015). Impact of weather on return and volatility: Evidence from indian stock market. International Journal of Financial Management, 5(2).
  • Vijayakumar, N., Parvadavardini, S., & Dharani, M. (2012). Relationship between Futures and Spot Market for Selected Spices in India. Prajnan Journal of Social and Management Sciences, 41(3), 219-232.
  • Munusamy, D., & Natarajan, P. (2011). Arbitrage Opportunity for Exchange Traded Funds (ETFs) in the Indian Stock Market-An Empirical Analysis. Indian Journal of Finance, 5(9), 19-24.
  • Munusamy, D., & Natarajan, P. (2011). Seasonal anomalies between S&P CNX nifty Shariah index and S&P CNX nifty index in India. Journal of Social and Development Sciences (JSDS), 1(3), 101-108.
  • Munusamy, D., & Natarajan, P. (2011). Equanimity of risk and return relationship between Shariah index and general index in India. Journal of Economics and Behavioral Studies (JEBS), 2(5), 213-222.
  • Dharani, M., Narayanamoorthy, V., & Natarajan, P. (2011). A Study on the Performance of Islamic Index and the Common Index During Bull and Bear Market Period. Journal of Emerging Financial Markets, 2(1), 29-36.
  • Accounting for Managers
  • Financial Accounting
  • Cost and Management accounting
  • Corporate Finance
  • Investment and Portfolio Management
  • Bharath Rathna Dr.B.R. Ambedkar Gold Medal
  • AIMS JL BATRA Best Research Paper Award
  • Qualified the UGC-NET Examination.