Swapan Sen, Ph.D.

Financial Management Educator

_____________________________________________________________
Associate Professor of Finance 5715 Whippoorwill Dr.
Winston-Salem State University Pfafftown, NC 27040
Winston-Salem, NC 27110 (336) 922-9322
(336) 750-2717 sens@wssu.edu

Teaching & Professional Experience

Associate Professor of Finance, Winston-Salem State University, 2003-
Associate Professor of Finance, Christopher Newport University, VA 1998-2003
Associate Professor of Finance, Michigan Tech University, MI 1996-1998
Assistant Professor of Finance, Michigan Tech University, MI 1991-1996
Instructor, College of Business, University of Nebraska, 1987-91
Asst. Director, Department of Commerce, Government of India, 1982-1986
Lecturer of Economics, HMG College, Calcutta, 1980-82

Awards/Recognitions
Willie Burke Master Teacher Award, Winston-Salem State University, 2007
Academic tenure, Winston Salem State University, 2006
Academic Tenure, Christopher Newport University, 2002
Academic Tenure, Michigan Tech University, 1996
Brauer Professor of Business, Christopher Newport University, 1999-2000, 2003-04
Brout Professor of Business, Christopher Newport University, 2002-03

Academic Qualification
Ph.D. University of Nebraska, Lincoln, NE, 1991, Finance
M.A. University of Calcutta, India, 1978, Economics, Placed in the First Class.
B.A. University of Calcutta, India, 1976 Honours in Economics (subsidiary field in
Mathematics).

Refereed Publications
1. (2007): Swapan Sen, Kashibhatla K., & Stewart D., “Debt Overhang and
Economic Growth –the Asian and the Latin American Experiences”, Economic
Systems, March 2007, 31(1):3-11.
2. (2006): Kashibhatla K., Stewart D., Swapan Sen, & Melindrotos J. “Are Daily
Stock Indices in the Major European Equity Markets Conintegrated? – Tests and
Evidence”, American Economist, 50(2):47-57.
3. (2005): Kashibhatla K., Stewart D., Swapan Sen, and Melindrotos J., “GARCH
Modeling of Conditional Volatility and Leverage Effect in Global Equity
Markets”, International Journal of Finance, 17(3):1-13.
4. (2002): Swapan Sen, “On the Emergence of the Euro and the Global Dominance
of the US Dollar”, Virginia Journal of Social Science, 37:1-9.
5. (2002): D. Johnson, P. Joyce & Swapan Sen, “An Analysis of Student Effort and
Performance in the Finance Principles Course”, Applied Journal of Finance,
12(2) 67-72.
 6. (2000): D. Johnson, T. Monson & Swapan Sen, “Flight Capital and the
Performance of Emerging Stock Markets”, Journal of Emerging Markets,
5(2):5-17.
7. (2000): Swapan Sen & R. Ferzin, “Downsizing, Capital Intensity, and Labor
Productivity”, Journal of Financial and Strategic Decisions, 13(2): 73-81.
8. (1999): M. Yamashita, Swapan Sen & M. Roberts, “The Rewards for
Environmental Consciousness in the US Capital Markets”, Journal of Financial
and Strategic Decisions, 12(1): 73-82.
9. (1997): Swapan Sen & R. Peszek, “Mixed Currency Contracts of International
Bank Loans”, Advances in International Banking & Finance, 3:99-122.
10. (1997): Swapan Sen, P. Joyce, K. Farrell & J. Toutant, “Performance in Principles
of Finance Courses by Students with Different Specializations”, Journal of
Financial Practice and Education, Fall/Winter, p. 66-73.
11. (1996): Swapan Sen & S. Belborodov, “Effects of Political Disintegration on
Foreign Capital Requirement during Transition”, Journal of Economic
Integration, 11(3), 385-395.
12. (1996): Swapan Sen, J. Geppert & G. Karels, “The irrelevance of Currency
Choice in International Bank Loans”, International Journal of Finance,
8(3):198-218.
13. (1996): Swapan Sen, “The Role of Foreign Capital in India’s Security Market
Boom”, Finance India, 10(3):573-584.
14. (1996): Swapan Sen & G. Xhu, “The Optimal Degree of Outsourcing”, Journal
of Financial and Strategic Decisions, 9(3):63-70.
15. (1995): Swapan Sen & M. Chattopadhayay, “Bank Lending Rules for Managing
Sovereign Risk”, Journal of Economics & Finance, 19(1):93-108.
16. (1995): P. Lalsare & Swapan Sen “Evaluating Backward Scheduling and
Sequencing Rules for an Assembly Shop Environment”, Production and
Inventory Management Journal, 36(4):71-78.
17. (1995): Swapan Sen, “Financial Reform and Security Market Booms in the
Emerging nations”. Economic & Political Weekly.
18. (1994): Swapan Sen, “Merit of Dollar Denomination of Overseas Loans by US
Banks”, Southwest Oklahoma Economic Review, 2(2):83-90.
19. (1993): Swapan Sen, “The Influence of External Debt on Latin American Exports
of Metals and Minerals”, Resources Policy, 19(3):225-229.

Other Business Publications

1. (2001): Swapan Sen, “Incentives to Dollarization and Currency
Seignorage”, Peninsula Business Economic Report, Summer.
2. (2001): Swapan Sen, “Understanding Bid-Ask Spread”, Peninsula
Business Economic Report, Summer.
3. (1994): Swapan Sen, “The Risk of Economic Crises”, The Journal of
Economics, 19(1):89-91.
4. (1985): Inter-Industry Relationship in Wages”, Economic & Political
Weekly.
5. (1982): “Crisis and Profitability in the Jute Industry”, Economic &
Plotical Weekly. Review of Management Issue.

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Recent Conference Proceedings (Last three Years)

1. (2006), Swapan Sen, K. Kashibhatla & Stewart, “European Major Market

Cointegration before and after the Euro”, Infiniti Conference on Finance, Dublin,
June 11-14.
2. (2005) Swapan Sen, K. Kashibhatla & Stewart, “Empirical Tests of Debt
Overhang Hypothesis”, Global Finance Corporation, Dublin, Ireland. June 26-29,
proceedings paper #555.
3. (2004) Swapan Sen, “Terrorist Financing and the Vulnerability of the Financial
System”, NBEA, Southern Connecticut State University. May 14-16.
4. (2004) “GARCH Modeling of Daily Stock Returns in the US Equity Market”,
Northeast Business & Economic Association Annual Meeting. NY City.
Coauthored with K. Kasibhatla and D. Stewart. (September)
5. (2004) “Does External Debt of Highly Indebted Countries Stunt Their Economic
Growth?” Northeast Business & Economic Association Annual Meeting. NY
City. Coauthored with K. Kasibhatla and D. Stewart. (September).

Other Conference Attendance (Last three years)

1. (2006), Globalization of Business Schools, University of Memphis.

2. (2006), Financial Management Association International Conference, Salt
Lake City, Utah.
3. (2004), NFSA, Baltimore, “Institutional Review” and “Internationalization
of Curriculum”, 2004.

Literary/Fiction Publications (Bengali Language)

Book: (2006), Paschim Afrikay Banglar Mukh, (The Face of Bengal in West Africa),
Naya Udyog, 206 Rabindra Sarani,
Kolkata, ISBN 81-8597175-7

Recent Articles/Short Stories

1. (2007, January), “Amar Ichamotir Smriti”, Nabanno, Katiahat.

2. (2006, June), “Fee Book”, Baishakhi, Kolkata.
3. (2005, May), “Man hara Manobir Dare”, Vol. V, Ekak Matra, Kolkata.
4. (2005, September), “Eso, Simanto Paar Hoye Eso”, Alochonoa Chakro, Kolkata .
5. (2005, October), “Bangla Bhasay Africar Sahityo”, Parabas, New York City.

Language Proficiency: English, Bengali, Hindi, Sanskrit.

Professional Presentations
Infiniti Conference on International Finance, Dublin 2006
Global Finance Conference, Dublin 2005
Financial Management Association International Annual Meetings, 1992, 1995, 1998,
2006

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Midwestern Finance Association, 1998
Indian Statistical Institute, 1998
Delta Airlines, Atlanta, 1995

Media Appearance/Coverage
Channel 5, Calumet MI, 1997
Channel 6, Marquette MI, 1997
Associate Press, 1997

Professional Services

Journal Referee
Journal of Financial and Strategic Decisions
Journal of Financial Practice and Education
Review of Business, Economics and Finance
Studies in Economics and Finance

Track Chair/Session Chair/Panelist in Conferences

North Eastern Business Association, New Haven, CT, 2003

New England Business Association, NYC, 2004

Continuing Education/Study Abroad/ Seminars

Study abroad and Diaspora Studies, 2004 (Benin and Ghana)
NAFSA, “Institutional Review” and “Internationalization of Curriculum”, 2004.

Graduate Thesis Supervision

Major professor of Sergei Beloborodov (1993), Ladislav Husak (1994), Onukwa
Uchendu (1996), Rezeian Farzin (1997), Xiao Li (1997).

Students are well established in US and abroad. Served thesis committees in the School
of Business (2), School of Forestry (2), Department of Mathematics (1), and Mechanical
Engineering (1). Initial employment of students includes Ford, Enron, American Airlines.

Teaching Record
Winston-Salem State University: (Records Incomplete)
Spring 2006: BUA 3351: Financial Management 4.22
Fall 2006 ECO 4384: Int’l. Econ 4.48

Summary of Student Evaluation

Michigan Technological University
Term Course Average Rating

1996-7 Spring BA448: Risk Management 4.80

Winter BA 310: International Economics 4.15

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 Fall BA 345: Financial Management 4.60
BA 547: Graduate Finance 4.08
1995-96 Spring BA 448 4.63
BA 345 4.18
Winter BA 441: Investments 4.15
Fall BA 547: 4.10

Key: Average rating is based on a 5 point scale; Poor=1, Average=3, Excellent=5.

Summary of Student Evaluation

Christopher Newport University
Term Course Average Rating

1999 Fall Busn 323: Fin. Management 4.57

Econ 201: Econ Prin. 4.54
Finc 422: Corporate Finance 4.13
Spring Busn 323: 4.18
Busn 323: 4.04
Econ 470: International Trade 4.53

2000 Spring Busn 492: Brauer Seminar 5.00

Finc 323: 4.00
Finc 470: Risk Management 4.70
Fall Finc 422: 4.80
Busn 323: 4.50
Busn 323: 4.50
2001 Spring Fin 420: renumbered Fin 470 3.70
Econ 201 4.70
Econ 201 4.20
Econ 470 4.70
The gaps in teaching record are due to switching evaluation system to IDEA. Evaluations
based on IDEA recorded between 91st and 93rd percentile at both Michigan Tech & CNU.

Personal Data: US citizen, 2 children (UVA and Princeton).

References:
1. Gordon V. Karels, University of Nebraska, Lincoln, 402-472-3460

2. B. Patrick Joyce, Professor of Economics, Michigan Tech University, 906-487-2677.

3. David Stewart, 336-750-2448, Chair, Department of Econ & Finance, Winston-Salem

State.