Divya Aggarwal

Assistant Professor
Faculty In-charge - AACSB


[email protected]

Profile

Prof. Divya Aggarwal has done her doctoral in Behavioral Finance from XLRI-Jamshedpur. She has done her graduation from S.S.C.B.S, Delhi University along with pursuing Company Secretaryship. Prof Divya has an industry experience of 6 years across consulting and investment banking domains at Mckinsey Knowledge Centre and Avendus Capital, Mumbai. Post her PhD she also worked as an AVP at SwissRe, Bangalore office. Prior to joining MDI Gurgaon, she has taught at EMLV Paris in France and IIM Ranchi in India. She teaches core courses of accounting along with offering electives on behavioural finance and investment banking. She has published several papers in international journals and has presented her research at international and national conferences. Her research interests are in behavioural finance and sustainable finance.

Honor’s, Awards and Achievements

  • Featured in India’s Best Finance Teachers 2021 by Association of International Wealth Management of India (AIWMI)
  • Featured in India’s Top 100 Women in Finance 2020 by Association of International Wealth Management of India (AIWMI)

International Level

  • Won “Case center’s Case Writing Scholarship” by Case Center UK, 2018. [USD 1,200]
  • Won “Indo-American ISDSI Best Paper Award” at 11th ISDSI International conference 2017, held at IIM-Trichy. [INR 25,000]
  • Won “SAGE Best Case Award” on South Asian Perspective at ICMC 2017 by BIMTECH, India in association with George Mason University, United States. [INR 10,000]
  • Won Scholarship to attend the Winter School on Bounded Rationality by the Max Planck Institute for Human Development (Berlin) held at TAPMI, India in 2017. [INR 10,000]
  • Won Peter Drucker Global Student Essay Award 2014, Vienna, Austria. [EUR 1,000]

National / University Level

  • Won WIPRO XUB Best Paper Award at XUB Sustainability Summit 2016. [INR 25,000]
  • 2nd runner up in XLRI-Citi Financial Inclusion Challenge 2014 at XLRI. [INR 15,000]
  • All India ranks 17 & 16 in Intermediation and Foundation Level Company Secretary Ship Course.
  • 2nd Rank in Delhi University at graduate level.
     

  1. Management Development Institute Gurgaon, India April 2024 – Present
  2. EMLV, Paris, France, November 2022 – March 2024
  3. IIM, Ranchi, India, July 2020 - October 2022

Journal Publications

  • Aggarwal, D., Chandrasekaran, S. & Annamalai, B, (2020). A Complete Empirical Ensemble Mode Decomposition and Support Vector Machine-Based Approach to Predict Bitcoin Prices. Journal of Behavioral and Experimental Finance, 27(3) [ABDC – A]
  • Aggarwal, D., & Damodaran, U. (2020). Ambiguity attitudes and myopic loss aversion: Experimental evidence using carnival games. Journal of Behavioral and Experimental Finance, 25(1). [ABDC – A]
  • Gupta, S., & Aggarwal, D.(2023), Shrinking the capital costs and beta risk impediments through ESG: Study of an emerging market, Asian Review of Accounting : [ABDC – B]
  • Jagannath, N., & Aggarwal, D., (2022), YES Bank Fraud: Examining the softer underbelly of the fraud from a behavioral model, Journal of Forensic Accounting Research, 7(1) : [ABDC – B]
  • Aggarwal, D., & Kalia, D., (2022) Examining Comovement and Causality between Producer Price index for P&C Insurance Premium and Uncertainty indices: Wavelet and Non-parametric Quantile Causality approach, Research in Economics 76(2) : [ABDC – B]
  • Shivkumar, S., Damodaran, U., Mohanty, P., & Aggarwal, D, (2022) Examining significance of Downside beta as a measure of risk – Evidence from Indian Equity market (Accepted in International Journal for Emerging Markets) [ABDC – B]
  • Aggarwal, D., Mohanty, P.(2021), Examining impact of imprecise and conflicting information on ambiguity attitudes, Managerial and Decision Economics, 43(4) [ABDC – B]
  • Aggarwal, D., Damodaran, U., Mohanty, P., & Israel, D (2021), Risk and ambiguous choices: individual versus groups, an experimental analysis, Review of Behavioral Finance, 14(5)  [ABDC – B]
  • Aggarwal, D. (2019) Do bitcoins follow a random walk model? Research in Economics, 73(1) [ABDC – B]
  • Aggarwal, D. (2018) Defining and measuring market sentiments: a review of the literature. Qualitative Research in Financial Markets (Accepted) [ABDC – B]
  • Aggarwal, D & Padhan, P. C; (2018) Demutualization of BSE and its performance. World Economics Journal, 19(3), 133-149. [ABDC – B]
  • Kalia, D. & Aggarwal, D., (2022) Examining impact of ESG score on financial performance of healthcare companies, Journal of Global Responsibility 14 (1) : [ABDC – C]
  • Aggarwal, D. & Elembilassery, V., (2022) “Whatsapp generation in Zoom university: Online Pedagogical Challenges and Innovations, (Invited to submit for special issue on finance education during COVID), Management and Labour Studies, 48(2): [ABDC – C]
  • Aggarwal, D., Rajasulochana, SR., & Elembilassery, V. (2022), “Compliance Behaviour Amidst Ambiguous Information: An Exploratory Study in the Context of COVID-19, Management and Labour Studies, 47(4): [ABDC – C]
  • Aggarwal, D. & Mohanty, P.; (2018) Does Indian stock market sentiments impact contemporaneous returns? South Asian Journal of Business Studies., 7(3), 332-346. [ABDC – C]
  • Aggarwal, D (2018). Random walk model and asymmetric effect in Korean Composite stock price index. Afro-Asian journal of finance and accounting, 8(1), 85-10. [ ABDC – C]

Cases Published

  • Elembilassery, V., Aggarwal, D. & Bhaskar, K (2019); Rolling Drops: Nilkamal Wello Water Wheel. Emerald Emerging Markets Case Studies. (ISSN: 2045-0621)
  • Elembilassery, V., Aggarwal, D. (2018). Mexican Rodeo on Indian Streets. The Case Centre, UK
  • Aggarwal, D. & Elembilassery, V. (2018). Sustainable Finance in Emerging Markets: Investment Decision Dilemma. South Asian Journal of Business and Management Cases, 7(2), 131-143. [Scopus indexed]

Book Chapter/Book Review/Commentary

  • Aggarwal, D. & Elembilassery, V., (2022) “Commentary - Rethinking about thinking : Developing ourselves for critical thinking as an Educator, (Invited to submit for special issue on finance education during COVID), Management and Labour Studies, 48(2): [ABDC – C]
  • Aggarwal, D., & Elembilassery, V. (2018). The Story of Missing Middle: SAIF Partners and Aye Finance. In A. K. Dey, & T. Thatchenkery, Advances in Social Change, Leadership & Organizational Decision Making (pp.167-187). New Delhi: Bloomsbury.
  • Aggarwal, D., & Elembilassery, V. (2018). Redefining Circular Economy: A New Typology of Reuse and Implications on E-waste Management. In Xavier School of Sustainability, Energy, Peace & Global Governance (pp.78-83). Bhubaneshwar: Xavier University Press, ISBN – 987-81-932256-5-3
  • Aggarwal, D., (2016)“Book review: The Irrational Bundle: Predictably Irrational, The upside of Irrationality, and the honest truth about Dishonesty, Management and Labour Studies,: [ABDC – C] Consultancy:

Conducted a FDP workshop on Experiment Design Sweatshop for School of Management faculty at BML Munjal University, Gurgaon on 10th-11th January 2019