Sugandh Ahuja

Designation: Assistant Professor

Email: [email protected]

Extension: 383



Dr. Sugandh Ahuja has completed her Ph.D. from the Department of Management Studies, IIT Delhi. Her thesis work investigates the performance implications of outbound mergers and acquisitions from emerging economies. She has contributed research articles to academic journals of international repute such as Review of behavioral finance, Managerial finance, Journal of emerging market finance and Global business review. She also received the Research Scholar Travel Assistance (RSTA) from IIT Delhi in 2022 to present the findings of her work at the prestigious Cambridge University in United Kingdom. Her area of interests includes corporate finance, corporate governance, financial markets & institutions, and strategic management. Prior to joining the Ph.D. program at IIT Delhi, she served as a Lecturer (Finance) at Sri Aurobindo College of Commerce and Management for three years where she taught subjects like Financial management, Financial markets and institutions, Business statistics etc. She also cleared the CFA Level 1 exam in 2019.

  • Doctor of Philoshopy (PhD): Department of Management Studies, Indian Institute of Technology Delhi (2024), Thesis title: Performance outcomes in cross-border acquisitions: A study in the context of BRICS.
  • Chartered Financial Analyst (CFA) Level 1: CFA Institute (2019)
  • Masters in Commerce (M.Com): Department of Commerce, Delhi School of Economics, Delhi University (2016)
  • Bachelors in Commerce (B.Com Hons): Hansraj College, Delhi University (2014)

  • Corporate Finance, Mergers and Acquisitions, Startup financing and valuation.

  • Financial markets and institutions, Financial Management, Corporate finance.

  • Teaching Assistant

Duration: 2019-2024,

Institution: DMS, IIT Delhi

Program: MBA (full-time and executive)

Courses assisted: Venture financing and teaming, Entrepreneurial finance, Security analysis and portfolio management, and International financial management.

  • ­Lecturer

Duration: 2016-2019

Institution: Sri Aurobindo College of Commerce and Management, Panjab University

Program: BBA and B. Com

Courses taught: International financial markets, Security analysis and portfolio management, financial management and statistics for management

  • Honorarium for ICFMCF 2023: Received honorarium from the organizing committee of the 5th International Conference on Financial Markets and Corporate Finance (ICFMCF 2023), organized by Department of Management Studies, Indian Institute of Technology Delhi for serving as the lead student coordinator.
  • Research Scholars Travel Allowance: Received the Research Scholars Travel Allowance (RSTA) from IIT Delhi to present at the 5th International Conference on Business, Management and Finance (ICBMF) at Cambridge University, United Kingdom in August 2022.
  • Upgradation from JRF to SRF: Successfully upgraded from Junior Research fellow (JRF) to Senior research Fellow (SRF) after presenting research work progress as mandated by University Grants Commission (UGC) in July 2022.
  • UGC NET- JRF Fellowship: Successfully passed the NET-JRF exam conducted by the University Grants Commission (UGC) twice in 2016 and 2019.

  • Provided consulting services to Delhi-based startup Enroute Indian History (April 2024- July 2024) to prepare their forecasted financial statements. Ensured projections are data driven and align with industry standards.

  • Ahuja S., Puri V., Jhunjhunwala R. (2024). It’s in the Group! Role of Business Group Heterogeneity on the Performance of M&A deals: Evidence from India. Accepted for publication at Managerial Finance (ABDC-B, Impact factor-1.6, Scopus cite score-3.3) on 17th September 2024. https://doi.org/10.1108/MF-05-2024-0352
  • Ahuja, S., Singh, S., & Yadav, S. S. (2024). Informativeness of announcement returns in cross-border acquisition completion: A perspective from emerging economies. Journal of Emerging Market Finance, 23(4), 424-449 (ABDC- B, Impact factor-1.5, Scopus cite score-1.6).https://doi.org/10.1177/09726527241247975
  • Ahuja, S., Singh, S., & Yadav, S. S. (2024). The differential impact of quantitative and qualitative information on outbound cross-border acquisition outcomes: Evidence from emerging economies. Review of Behavioral Finance, 16(5), 792-818 (ABDC-B, Impact factor- 2, Scopus cite score -4.6). https://doi.org/10.1108/RBF-04-2023-0114
  • Ahuja, S., Singh, S., & Yadav, S. S. (2023). Determinants of Cross-border Acquisition Completion: A Study of Acquisitions by Indian Firms. Global Business Review, forthcoming (ABDC-C, Impact factor -2.4, Scopus cite score- 4.3). https://doi.org/10.1177/09721509231199301

  • Is corporate governance improvement a viable source of value creation in cross-border deals? Evidence from an emerging economy- Work in Progress.

  • Guest reviewer for journals indexed in the ABDC list such as Corporate Governance: An International Review (ABDC-A) and Emerging Markets Finance and Trade (ABDC-B).

  • Ahuja S., Singh, S.; Yadav, S. (2022), The effect of exploration vs. exploitation on cross-border acquisition outcomes in emerging markets: Evidence from BRICS, presented at the 5th International Conference on Business, Management and Finance, Cambridge University, United Kingdom on 26-28th August 2022.
  • Ahuja S., Singh, S. &; Yadav, S. (2022), Determinants of cross-border acquisition completion in emerging economies: A study of Indian firms, presented at the 4th International Conference on Financial Markets & Corporate Finance, IIT Bombay, India on 7th -9th July 2022.
  • Ahuja S., Puri V., Jhunjhunwala R. (2022), “It’s in the Group – Role of Business Group Ownership Heterogeneity and Board Interlocks on Performance of M&A Deals: Evidence from India” presented at the 7th Biennial Conference of INDAM, IIM Rohtak on 7th -9th January 2022.
  • Ahuja S., Puri V., Jhunjhunwala R. (2021), “It’s in the Group – Role of Business Group Ownership Heterogeneity and Board Interlocks on Performance of M&A Deals: Evidence from India” presented at the India Finance Conference jointly organized by IIM-Ahmedabad, IIM-Bangalore, and IIM-Calcutta on 16th -18th December 2021.

  • Served as a panelist for a session titled “The research cookbook: A cross-cultural perspective with research scholars from 4 countries” at DOMS research symposium organized by Department of Management Studies, IIT Madras virtually on 29th January 2022.

  • Continuing Education Program (CEP) : Research approaches and methods in management, social sciences, and education conducted by IIT Bombay from 25th May to 4th June 2022.
  • Research Symposium: Attended the Lumiere Research Symposium organized by Great Lakes Institute of Management, Gurgaon on 17th November 2021 as a participant.
  • Research Summer School : Participated in the Research summer school organized by Finance Research and Trading Laboratory (FRTL) of Indian Institute of Management Calcutta for faculty and doctoral students of finance and accounting from May 1st to May 10th, 2021.
  • Research Bootcamp : Attended the Machine learning deep learning bootcamp organized at IIT Delhi by Cellstrat hub.