Dr. Shalu
Associate Professor
Department of Finance, Accounting and Control
School of Management and Entrepreneurship (SME)
Block-D, Shiv Nadar University
Noida Uttar Pradesh
Profile Summary 

Shalu Kalra is Assistant Professor in the area of Finance, Accounting and Control Area of SME. Her research interests vary from asset pricing, capital markets to CSR. One stream of her research is in the interplay of liquidity in financial markets with the corporate governance structure in Indian markets. She also works in the area of the effect of market microstructure on the relationship of market variables. Another stream of her research focuses on the blurring lines between corporate social responsibility and corporate philanthropy unique to the Indian context. Shalu has done international consulting assignments for banks in Oman and for a finacial consutling firm ,USA. 

Educational Qualifications 
Indian Institute of Management Bangalore
Indian Institute of Technology Roorkee
University of Rajasthan
Work Experience 
Assistant Professor,
Alliance Univeristy,
Manager-Fixed Income Securities,
Pioneer Securities,
New Delhi
Teaching & Research Interests: 

Research Interest: Liquidity in Capital Markets, Corporate Social responsibility, IPOs and Capital Allocation, Asset Pricing , Market Microstructure.

Teaching Interests: Financial Management, Investment Management, Business Valuation, Spreadsheet Modelling and Structured Financial Products

Conferences (Select): 


  • Paper “ Impact of derivative listing on liquidity of the underlying stock” Co-authored with Prof. MS Narasimhan (Prof. IIM Bangalore) published in Vikalpa: The Journal for Decision Makers (Journal published by IIM A)
  • Paper “Effect of derivative listing on liquidity beta of the underlying stock in India”, Co-authored with Prof. MS Narasimhan (Prof. IIM Bangalore) published by IUP journal of applied finance.


  • “Why Corporate Social Responsibility(CSR) cannot be standardized?” Paper presented at  35th Annual Conference  of   Strategic Management Society held at Denver,USA.
  • “Expected and Unexpected Liquidity's Effect on Return presented at International Conference on Financial Markets and Corporate Finance at IIT Kanpur.
  • Paper “IPO and Capital Structure” co authored with Prof MB Ragupathy  presented at India Finance Conference, conducted  by IIMA, IIMB and IIMC.
  • Paper” Liquidity and return premium in Indian Stock Market” presented at PAN IIM World Management Conference at IIM Indore.
  • “Option Trading and the Liquidity Sensitivity of Underlying Stocks” Paper presented at the 12thAsian Pacific Management Conference held at Bangkok, Thailand
  •  “Impact of derivatives trading on the liquidity beta” Paper accepted for presentation at the Applied Financial Economics Conference 2012 at Greece.
  • “Impact of foreign institutional investors on Indian capital markets” Paper presented at the 4th conference on Opportunities and challenges in the service sector.
  • Paper accepted for presentation at the International Conference on Quantitative Methods in Money, Banking, Finance and Insurance