Akash Chattopadhyay

Akash Chattopadhyay
Monday, February 11, 2019 - 10:09am

POSITION: Assistant Professor, Tenure Stream

ACADEMIC UNIT:  Management



“Do western models of corporate governance work as well in different cultural contexts?”

While working as a financial analyst in India where he grew up, Akash Chattopadhyay realized that his job had one significant shortcoming. It didn’t provide him with enough latitude to think as deeply about economic and accounting issues in financial markets as he wanted. So, he decided to apply to doctoral programs at business schools.

“I had a good job, so I only applied to a few schools,” Chattopadhyay says. “I thought that if I got into one of them, it would make the change worth my while.”

Happily, Harvard Business School came calling, and Chattopadhyay made the move to academia. He had his eyes on top North American universities because of “the rigour with which the quantitative social sciences are approached.”

He is now delighted to be at the University of Toronto. “It’s always among the top 15 schools that doctoral students apply to,” Chattopadhyay says. “The department is great and the tri-campus departments are very well-integrated. I really enjoy UTM. It’s a younger campus and I enjoy being part of the institution as well as the campus.

“It has been a seamless transition. A big city [Toronto] was our preference since my wife is a software engineer and there are plenty of jobs here.”

Chattopadhyay’s research focuses on financial markets and how financial information is used to value firms and structure performance incentives for management. His research has an international focus.

“Do western models of corporate governance work as well in different cultural contexts or can alternate, innovative governance mechanisms be more effective?” he asks. “For example, we find that in Japan an index which leverages managers’ reputation concerns seems to be more effective in bringing about change than standard performance contracts.”

Chattopadhyay is new to teaching; his previous experience as a teaching assistant at Harvard didn’t include classroom lectures. “There’s a learning curve, just in terms of managing all aspects of a course,” he says. “However, I have connected with some of my undergraduate students in a mentoring role and it has been very rewarding. It’s wonderful to make a difference in a young person’s life.”


Governance through Shame and Aspiration: Index Creation and Corporate Behavior, Journal of Financial Economics, Forthcoming (with Matthew Shaffer and Charles Wang)

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