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Shantanu Dutta

Dutta, Shantanu
Full Professor
Vice-Dean (Research). Telfer Fellow in Global Finance
Bachelor of Technology (Indian Institute of Technology (IIT)), MEM (Indian Institute of Technology (IIT)), M.B.A. (AIT), Ph.D. (Carleton)
DMS 5126
613-562-5800 x 4504
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Shantanu Dutta is Full Professor in finance and Telfer Fellow in Global Finance. He previously taught at University of Ontario Institute of Technology, St. Francis Xavier University, Nova Scotia and Assumption University, Bangkok as a full-time faculty member. Before his career in academe, he served as a Finance Manager and Project Controller at Lafarge - a world leader in construction materials. He has published in Financial Management, Review of Accounting Studies, Journal of Banking and Finance, Journal of Corporate Finance, Journal of Business Finance & Accounting, Journal of Multinational Financial Management, Multinational Finance Journal, Quarterly Journal of Finance and Accounting, Global Finance Journal, Canadian Investment Review, Corporate Governance - An International Review (CGIR), International Journal of Theoretical and Applied Finance, International Journal of Managerial Finance, Journal of Applied Finance, International Journal of Technology Transfer and International Journal of Global Energy Issues. Professor Dutta has also participated and presented papers in many scholarly conferences. He is a recipient of a SSHRC grant and Barclays Global Investors Canada Research Award (2006) for the best paper on the Canadian security market. He received the 'Highly Commended Award' at the Literati Network Awards for Excellence 2009 and 2014 for a study published in the International Journal of Managerial Finance. He is also a recipient of the Telfer School of Management Research Excellence Award in 2016.

Research interests

Shantanu Dutta's research focuses on mergers and acquisitions, media coverage and financial decisions, corporate governance, market efficiency, dividend policy and technology management. He is a co-investigator on two new projects supported by grants. The first examines how social media influences corporate decisions and investors' behaviour, supported by a $55,000 grant from SSHRC. The second project will use a grant from the Research Development Program (RDP) of the University of Ottawa to examine the impact of media coverage on firms' risk-taking behaviour and stock return volatility.


Professor Dutta teaches finance courses at undergraduate and graduate levels (MBA, PhD) at Telfer. He has taught courses in financial management at the MBA level as well as courses in corporate governance, entrepreneurial finance, mergers & acquisitions, international financial management, and advanced corporate finance applications at other schools before joining Telfer.

Publications during the last 7 years

Chapters in Books

  • Dutta, S., Ganguly, A. and Ge, L. The Role of Private Equity in IPOs: The Case of Venture Capital Firms. In Baker, H.K., Filbeck, G. and Kiymaz, H.. Private Equity: Opportunities and Risks. New York: Oxford University Press, 2015.
  • Dutta, S., Ganguly, A. and Ge, L. Economics of Private Equity: Background and Benefits. In Baker, H.K., Filbeck, G. and Kiymaz, H.. Private Equity: Opportunities and Risks. New York: Oxford University Press, 2015.

Papers in Refereed Journals

  • Chkir, I., Dutta, S. and Hasan, B.E. 2020. Does target geographical complexity impact acquisition performance? Finance Research Letters.
  • Dutta, S., Fuksa, M. and MacAulay, K. 2019. Determinants of MD&A sentiment in Canada. International Review of Economics and Finance, 60: 130-148.
  • Chang, B., Dutta, S., Saadi, S. and Zhu, P. 2018. Corporate Governance and Dividend Payout Policy: Beyond Country-Level Governance. The Journal of Financial Research, 41(4): 445-484.
  • Shareef, M.A., Baabdullah, A., Dutta, S., Kumar, V. and Dwivedi, Y.K. 2018. Consumer adoption of mobile banking services: An empirical examination of factors according to adoption stages. Journal of Retailing and Consumer Services, 43: 54-67.
  • Bowen, R., Dutta, S., Tang, S. and Zhu, P. 2018. Inside the ‘Black Box’ of Private In-House Meetings. Review of Accounting Studies, 23(2): 487-527.
  • Dutta, I., Dutta, S. and Raahemi, B. 2017. Detecting Financial Restatements using Data Mining Techniques. Expert Systems with Applications, 90(C): 374-393.
  • Dutta, S., Essaddam, N., Kumar, K. and Saadi, S. 2017. How does electronic trading affect efficiency of stock market and conditional volatility? Evidence from Toronto Stock Exchange. Research in International Business and Finance, 39(B): 867-877.
  • Dutta, S., Amin, A., Saadi, S. and Vora, P. 2015. Institutional Shareholding and Information Content of Dividend Surprises: Re-examining the Dynamics in Dividend-Reappearance Era. Journal of Corporate Finance, 31: 152-170.

Funded Research during the last 7 years

Funded Research during the last 7 years
From-To Source Title * ** Role Amount
2018-2022 SSHRC Board Independence and Corporate Private In-house Meetings R C PI $ 55,000
2016-2017 CPA - Canada Accounting and Governance Research Centre Information Content of Newswire Articles: Evidence from M&A Activities R I PI $ 5,000
2016 National Science Foundation of China Inside the 'Black Box' of Private In-House Meetings: Implications for Fair Disclosure and Insider Trading Regulations R F Co-I $ 85,000
2016 Shastri Indo-Canadian Institute Entrepreneurial Ecosystem: An Indo - Canadian Study of Incubator Best Practices R G PI $ 6,000
2014-2016 Telfer-Sprott Research Fund Does Value Based Management Performance Affect CEO Turnover and Compensation? R I Co-PI $ 10,000
2014-2016 SSHRC Social Media, Investor Sentiment and Initial Public Offerings R C Co-PI $ 74,718
2014-2015 Telfer School of Management Research Fund (SMRF) Impact of Media Coverage on Firms Risk-Taking Behaviour and Stock Return Volatility R I Co-PI $ 6,000
2014-2015 RDP Impact of Media Coverage on Firms Risk-Taking Behaviour and Stock Return Volatility R I Co-PI $ 6,000
2014-2015 SSHRC Corporate Governance and Cash Holding: International Evidence R C Co-PI $ 24,077


C: Contract (R and D) | E: Equipment Grant | R: Research Grant | S: Support Award | P: Pedagogical Grant | O: Other, U: Unknown

C: Granting Councils | G: Government | F: Foundations | I: UO Internal Funding | O: Other | U: Unknown

PI = Principal Investigator | Co-I = Co-Investigator | Co-PI = Co-Principal Investigator

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