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Krishna G. Palepu
Academic career
InstitutionHarvard Business School
Alma materMassachusetts Institute of Technology
AwardsWildman Award

Krishna G Palepu is the Ross Graham Walker Professor of Business Administration and Senior Associate Dean for International Development, at the Harvard Business School.[1]

Education

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Krishna Palepu has a Masters degree in Physics from Andhra University in India, a post graduate diploma in Management from the Indian Institute of Management Calcutta,[2] a doctorate from the Massachusetts Institute of Technology and an honorary doctorate from the Helsinki School of Economics and Business Administration.

Academics

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Krishna Palepu's research has been in the areas of strategy in emerging markets, corporate governance and corporate disclosure.[3][4] His work focuses on making corporate boards more effective, and improving corporate disclosure. In the area of strategy, his focus has been on the globalization of emerging markets, particularly India and China, and the resulting opportunities and challenges for western multinationals as well as local companies with global aspirations in these countries.

In his prior work, he has done research and published papers on mergers and acquisitions and corporate disclosure. He has been on the Editorial Boards of leading academic journals.[1]

Books

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Winning in Emerging Markets

In Winning in Emerging Markets, released in 2010, Tarun Khanna and Palepu outline a practical framework for developing emerging market strategies based not on broad categorical definitions like geography, but on a structural understanding of these markets. Their framework describes how “institutional voids” – the absence of intermediaries like market research firms and credit card systems to efficiently connect buyers and sellers – create daunting obstacles for companies trying to operate in emerging markets. Understanding these voids – and learning how to work with them in specific markets – is the key to success.[5]

Business Analysis and Valuation Using Financial Statements

The fourth edition of Business Analysis And Valuation Using Financial Statements: Text and Cases was published by Thomson Southwestern in 2007.[6] Based on Palepu's research on mergers and acquisitions, finance and corporate disclosure, this textbook is widely used in college and MBA courses on business analysis and valuation. It has been translated into Chinese, Japanese and Spanish.[1]

The book won the American Accounting Association's Wildman Award for its impact on management practice, as well as the Notable Contribution to the Accounting Literature Award for its impact on academic research.[7]

It is accompanied by a business analysis and valuation software model published by the Harvard Business School Publishing Company.[8]

Publications

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Professor Palepu has published numerous articles in academic journals and practitioner-oriented publications including Journal of Accounting and Economics, The Accounting Review, Harvard Business Review, MIT Sloan Management Review, Brown Journal of World Affairs, Strategic Finance, Contemporary Accounting Research, the Journal of Finance, Academy of Management Journal, Journal of Accounting Research, Journal of International Business Studies, and The Review of Economics and Statistics.

He has also published dozens of Harvard Business School cases and course materials.

Teaching

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Professor Palepu teaches courses in the Accounting and Control unit and courses on strategy in emerging markets at Harvard Business School (HBS). He also teaches in several executive programs at HBS.[1]

Board memberships

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Palepu has been a director of a number of companies around the world. He has been on the board of Brooks Automation, a semi-conductor equipment and materials company since November 2005. He is also a director of BTM Corporation, a management solutions provider focused on converging business with technology. He is a director since 2008 of Partners Harvard Medical International, a non-profit subsidiary of Partners Healthcare Systems, Inc. He currently serves on the board of Exeter Group, a privately held computer software consulting company in Cambridge, Massachusetts. He served on the board of Polymedica, a provider of diabetes testing supplies and products from June 2006 until it was sold in August 2007.[9] He was on the board of Satyam Computer Services from 2003 to 2008. Palepu has stated he resigned in 2008 after learning that the promoters of Satyam pledged their shares with financial institutions, without previously notifying the board.[10] In 2009, the company announced that the Chairman, who was later arrested, had been falsifying financial statements.[11][12] In July 2010, the SFIO claimed fees that Satyam paid, which were fully disclosed in annual reports and approved by shareholders, allegedly should have gotten prior approval by the Indian government,[13] but Satyam is disputing the contention that Indian government approval was required.[14] PricewaterhouseCoopers audited Satyam and has been charged with numerous violations for its role in giving clean audit reports, as well as withholding information of fraud from the Board.[15] Palepu was a non-executive director of Dr. Reddy's Laboratories from 2002 to 2009.[16] The board expressed appreciation for his contribution to the company.[17] Professor Palepu has a Professional Director Certification from the American College of Corporate Directors.[9]

Publishing history

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Books

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Journals

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  • Palepu, Krishna; Healy, Paul M.; Kang, Sok-Hyon (1987). "The Effect of Accounting Procedure Changes on CEO's Cash Salary and Bonus Compensation". Journal of Accounting and Economics. 9 (1): 7–34. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (1988). "Earnings Information Conveyed by Dividend Initiations and Omissions". Journal of Financial Economics. 21 (2): 149–175. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M.; Asquith, Paul (1989). "Earnings and Stock Splits". The Accounting Review. 64 (3): 387–403. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (1989). "How Do Investors Interpret Firms' Financial Decisions". Journal of Applied Corporate Finance. 2 (3). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (1990). "Effectiveness of Accounting-Based Dividend Covenants". Journal of Accounting and Economics. 12 (1–3): 97–124. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (1990). "Earnings and Risk Changes Surrounding Primary Stock Offers". Journal of Accounting Research. 28 (1): 25–48. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna (1990). "Consequences of Leveraged Buyouts". Journal of Financial Economics. 27 (2): 247–262. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M.; Ruback, Richard S. (1992). "Does Corporate Performance Improve after Mergers?". Journal of Financial Economics. 31 (2): 135–175. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (1993). "The Effect of Firms' Financial Disclosure Strategies on Stock Prices". Accounting Horizons. 7: 1–11. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (1993). Froot, K. (ed.). "International Equity Acquisitions: Who, Where, and Why?". Foreign Direct Investment. University of Chicago Press. {{cite journal}}: Cite journal requires |journal= (help)
  • Palepu, Krishna; Bernard, Victor L.; Merton, Robert C. (1995). "Mark-to-Market Accounting for Banks and Thrifts: Lessons from the Danish Experience". Journal of Accounting Research. 33 (1): 1–32. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (1995). "The Challenges of Investor Communication: The Case of CUC International, Inc". Journal of Financial Economics. 38 (2): 111–140. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (1996). "Using Capital Structure to Communicate with Investors: The Case of CUC International". Journal of Applied Corporate Finance. 8 (4). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun (1997). "Why Focused Strategies May Be Wrong For Emerging Markets". Harvard Business Review. 75 (4): 41–51. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M.; Ruback, Richard S. (1997). "Which Takeovers are Profitable: Strategic or Financial?". MIT Sloan Management Review. 38 (4): 45–57. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun (1998). "Building Institutional Infrastructure". Brown Journal of World Affairs. 5 (1). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun (1999). "The Right Way to Restructure Conglomerate in Emerging Markets". Harvard Business Review. 77 (4): 125–134. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Epstein, Marc J. (1999). "What Financial Analysts Want". Strategic Finance: 48–52. {{cite journal}}: Cite has empty unknown parameter: |month= (help)
  • Palepu, Krishna; Khanna, Tarun (1999). "Policy Shocks, Market Intermediaries, and Corporate Strategy: Evidence from Chile and China". Journal of Economics and Management Strategy. 8 (2): 271–310. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M.; Hutton, Amy P. (1999). "Stock Performance and Intermediation Changes Surrounding Sustained Increases in Disclosure". Contemporary Accounting Research. 16 (3). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun (2000). Morck, Randall (ed.). "Emerging Market Business Groups, Foreign Investors, and Corporate Governance". National Bureau of Economic Research Conference Report. Concentrated Corporate Ownerships. University of Chicago Press: 265–294.
  • Palepu, Krishna; Khanna, Tarun (2000). "Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups". Journal of Finance. 55 (2): 867–891. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun (2000). "The Future of Business Groups in Emerging Markets: Long-Run Evidence from Chile". Academy of Management Journal. 43 (3). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (2001). "Information Asymmetry, Corporate Disclosure, and the Capital Markets: A Review of the Empirical Disclosure Literature". Journal of Accounting and Economics. 31 (nos. 1-3): 405–440. {{cite journal}}: |issue= has extra text (help); Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Stuart C., Gilson; Noe, Christopher F.; Healy, Paul (2001). "Analyst Specialization and Conglomerate Stock Breakups". Journal of Accounting Research. 39 (3). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (2001). "The Fall of Enron". Journal of Accounting Research. 39 (3). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Healy, Paul M. (2003). "How the Quest for Efficiency Corroded the Market". Harvard Business Review. 81 (7). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Kaplan, Robert (2003). "Expensing Stock Options: A Fair-Value Approach". Harvard Business Review. 81 (12). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun; Srinivasan, Suraj (2004). "Disclosure Practices of Foreign Companies Interacting with U.S. Markets". Journal of Accounting Research. 42 (2). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun (2004). "Globalization and Convergence in Corporate Governance: Evidence from Infosys and the Indian Software Industry". Journal of International Business Studies. 35 (6): 484–507. {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun (2005). Morck, Randall (ed.). "The Evolution of Concentrated Ownership in India: Broad Patterns and a History of the Indian Software Industry". The History of Corporate Governance around the World: Family Business Groups to Professional Managers. University of Chicago Press. {{cite journal}}: Cite journal requires |journal= (help)
  • Palepu, Krishna; Khanna, Tarun; Sinha, Jayant (2005). "Strategies That Fit Emerging Markets". Harvard Business Review. 83 (6). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Tarun, Khanna; Kogan, Joe (2006). "Globalization and Similarities in Corporate Governance". The Review of Economics and Statistics. 88 (1). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun (2006). "Emerging Giants: Building World-Class Companies in Developing Countries". Harvard Business Review. 84 (10). {{cite journal}}: Unknown parameter |month= ignored (help)
  • Palepu, Krishna; Khanna, Tarun (2011). "Winning in Emerging Markets: Spotting and Responding to Institutional Voids". The World Financial Review: 18–20. {{cite journal}}: Unknown parameter |month= ignored (help)

Working Papers

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  • Palepu, Krishna; Healy, Paul M. (2001). "The Role of Corporate Boards in Improving Governance through Effective Discloure". Harvard Business School Working Paper, No. 02-039.
  • Palepu, Krishna; Chang, James; Khanna, Tarun (2001). "Analyst Activity Around the World". Harvard Business School Working Paper, No. 01-061.
  • Palepu, Krishna; Khanna, Tarun (2002). "Product and Labor Market Globalization and Convergence of Corporate Governance: The Case of Infosys and the Indian Software Industry". Harvard Business School Working Paper, No. 02-040.
  • Palepu, Krishna; Kogan, Joe; Khanna, Tarun (2002). "Globalization and Corporate Governance Convergence? A Cross-Country Analysis". Harvard Business School Working Paper, No. 02-041.
  • Palepu, Krishna; Khanna, Tarun; Srinivasan, Suraj (2003). "Disclosure Practices of Foreign Companies Interacting with U.S. Markets". Harvard Business School Working Paper, No. 03-081.
  • Palepu, Krishna; Lorsch, Jay W. (2003). "Limits to Board Effectiveness". {{cite journal}}: Cite journal requires |journal= (help)
  • Palepu, Krishna; Khanna, Tarun (2004). "The Evolution of Concentrated Ownership in India: Broad Patterns and a History of the Indian Software Industry". Harvard Business School Working Paper, No. 05-001. The Rise and Fall of Business Families. University of Chicago Press. {{cite journal}}: Unknown parameter |month= ignored (help)

References

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  1. ^ a b c d "Faculty page at Harvard Business School". Retrieved 11 July 2010.
  2. ^ "IIM Calcutta Alumni: Our Best Ambassadors". Archived from the original on 11 July 2010. Retrieved 11 July 2010.
  3. ^ "Making corporate boards more effective".
  4. ^ Timmons, Heather; Kahn, Jeremy (11 January 2009). "As Indian Outsourcing Changed, Satyam Hesitated". The New York Times. Archived from the original on 11 July 2010. Retrieved 11 July 2010.
  5. ^ "[[Winning in Emerging Markets]]". Official Website. Retrieved 2011-05-28. {{cite news}}: URL–wikilink conflict (help)
  6. ^ "Business Analysis and Valuation: Using Financial Statements, Text and Cases, 4th Edition". Cengage Learning. 2008. Retrieved 2011-05-28. {{cite news}}: Cite has empty unknown parameters: |1= and |2= (help); Unknown parameter |1&N= ignored (help); Unknown parameter |9780324302868&Ntk= ignored (help); Unknown parameter |P_Isbn13&Ns= ignored (help)
  7. ^ "Wildman Medal Award History and Criteria: 1997". American Accounting Association. Retrieved 2011-05-28.
  8. ^ Palepu, Krishna (Sept 1, 2004). [http://hbr.org/product/business-analysis-and-valuation-model/an/8436-MMC- ENG "Business Analysis and Valuation Model"]. Harvard Business Review. Retrieved 2011-05-28. {{cite news}}: Check |url= value (help); Check date values in: |date= (help); line feed character in |url= at position 74 (help)
  9. ^ a b "Profile on Forbes.com".
  10. ^ Lison Joseph; K. Raghu; C.R. Sukumar (31 December 2008). "Palepu quit after Satyam disclosure". Mint. Archived from the original on 1 August 2010. Retrieved 1 August 2010.
  11. ^ Blakely, Rhys (2008-12-19). "Family affair is a bid too far for Indian investors". The Times (London). News International. Retrieved 21 December 2008.
  12. ^ Guha, Romit (2009-01-07). "Satyam Chairman Resigns After Inflating Profit, Revenue Figures". The Wall Street Journal. Retrieved 7 January 2008. {{cite news}}: Cite has empty unknown parameter: |coauthors= (help)
  13. ^ "Satyam: Cross-examination on July 22". Rediff.com. 2 July 2010. Archived from the original on 14 July 2010. Retrieved 14 July 2010.
  14. ^ "Satyam Corporate Filings". Retrieved 11 July 2010.
  15. ^ "How Satyam and Global Trust Bank are ignominiously linked". Rediff.com. 8 January 2009. Archived from the original on 11 July 2010. Retrieved 11 July 2010.
  16. ^ "Dr. Reddy's Laboratories Annual Report 2002" (PDF).
  17. ^ "Dr. Reddy's Laboratories Annual Report 2009" (PDF).
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Category:Harvard Business School faculty Category:Andhra University alumni Category:Massachusetts Institute of Technology alumni Category:Indian business theorists Category:Business educators Category:Living people