Dr. Abhishek Varma
Professor
Office
SFHB State Farm Hall of Business 330
Office Hours
By appointment over Zoom
Office Phone
Email
- About
- Education
- Awards & Honors
- Selected Research
Biography
Dr. Varma’s publications have appeared in several reputed journals including The Accounting Review, Journal of Corporate Finance, Financial Management, Journal of Banking and Finance, and Journal of Financial Services Research. His research has also been cited in the Wall Street Journal and has been abstracted in the CFA Digest.
Dr. Varma received his Ph.D. in Finance and M.S. in Statistics degrees from Washington State University. Prior to that he worked in the Premier Banking division of Hongkong and Shanghai Banking Corporation (HSBC). Dr. Varma obtained his Bachelor of Commerce (Honors) degree from University of Delhi, India.
Current Courses
FIL 190.001 Finance Fundamentals and Career Choices
FIL 242.004 Investments
FIL 242.005 Investments
FIL 346.001 Fixed Income Analysis And Portfolio Management | Syllabus
FIL 242.006 Investments | Syllabus
FIL 242.007 Investments | Syllabus
Teaching Interests & Areas
Investments, Fixed Income, Risk Management and Insurance
Research Interests & Areas
Investments, Behavioral Finance, Institutional Investors, Individual Investors, Sustainable Investing, ESG, CSR, Risk Management
PhD Finance
Washington State University
Pullman, WA
MS Statistics
Washington State University
Pullman, WA
BS Commerce (Honors)
University of Delhi
New Delhi, India
Outstanding Researcher Award, Department of Finance, Insurance & Law
Illinois State University
2020
2017 Finance, Insurance and Law Master Teacher
Illinois State University
2017
Outstanding Reviewer
Journal of Banking and Finance
2017
Outstanding Paper Award
Review of Behavioral Finance, Emerald Literati Network
2015
Outstanding Researcher Award
Department of Finance, Insurance and Law, Illinois State University
2015
Country Financial Faculty Scholar
College of Business, Illinois State University
2014
Dixie L. Mills Faculty Scholar in Finance
Illinois State University
2014
Semi-finalist for Best Paper in Financial Review during 2012
Financial Review
2013
Outstanding Teaching Award
Department of Finance, Insurance and Law, Illinois State University
2012
Semi-finalist for Best Paper in Investments
Financial Management Association
2010
Doctoral Consortium
Financial Management Association
2007
Grants and Contracts
Grant from Center for Insurance and Financial Services
Abhishek Varma
2018 - 2018
Grant from Center for Insurance and Financial Services
Abhishek Varma
2017 - 2017
Grant from Center for Insurance and Financial Services
Abhishek Varma
2016 - 2016
Grant from Center for Insurance and Financial Services
Abhishek Varma
2015 - 2015
University Research Grant
Vladimir Kotomin, Abhishek Varma
2013 - 2013
Grant from Center for Insurance and Financial Services
Abhishek Varma
2012 - 2012
Grant from Center for Insurance and Financial Services
Abhishek Varma
2010 - 2010
Journal Article
Keeping Promises? Mutual Funds’ Investment Objectives and Impact of Carbon Risk Disclosures
Nofsinger, J., & Varma, A.
Journal of Business Ethics, 187 (3), 493-516, (2023), https://doi.org/10.1007/s10551-022-05264-1
Do Large Losses Loom Larger than Gains? Salience, Holding Periods, and the Disposition Effect
Kotomin, V., & Varma, A.
Financial Review, 57 (2), 397-427, (2022), https://doi.org/10.1111/fire.12288
A Tale of Two SMIPs: Equity and Fixed Income
Howe, T., Kotomin, V., Liao, M., & Varma, A.
Managerial Finance, 46 (5), 636-646, (2020)
Fair Value versus Amortized Cost Measurement and the Timeliness of Other-than-Temporary Impairments: Evidence from the Insurance Industry
Khan, U., Ryan, S., & Varma, A.
The Accounting Review, 94 (6), 285-307, (2019)
Institutional Investors and Corporate Social Responsibility
Nofsinger, J., Sulaeman, J., & Varma, A.
Journal Of Corporate Finance, 58, 700-725, (2019)
Conservation, Discrimination, and Salvation: Investors' Social Concerns in the Stock Market
Hood, M., Nofsinger, J., & Varma, A.
Journal Of Financial Services Research, (2014), 10.1007/s10693-013-0162-6
Institutional Investor Ownership and Corporate Pension Transparency
Eaton, T., Nofsinger, J., & Varma, A.
Financial Management, 43 (3), 603-630, (2014), 10.1111/fima.12045
Pound Wise and Penny Foolish? OTC Stock Investor Behavior
Varma, A., & Nofsinger, J.
Review of Behavioral Finance, 6 (1), 2-25., (2014), http://dx.doi.org/10.1108/RBF-12-04-02
Socially Responsible Investing and Market Crises
Nofsinger, J., & Varma, A.
Journal Of Banking And Finance, 48, 180-193, (2014), 10.1016/j.jbankfin.2013.12.016
Availability, Recency, and Sophistication in the Repurchasing Behavior of Individual Investors
Nofsinger, J., & Varma, A.
Journal Of Banking And Finance, 37 (7), 2572–2585, (2013), 10.1016/j.jbankfin.2013.02.023
Individuals and Their Local Utility Stocks: Preference for the Familiar
Nofsinger, J., & Varma, A.
Financial Review, 47 (3), 423-443, (2012), 10.1111/j.1540-6288.2012.00335.x
Gender Difference in Time and Risk Preferences of Financial Planners
Nofsinger, J., & Varma, A.
Journal of Personal Finance, 2009 (8), 107-127, (2009)
How analytical is your financial advisor?
Nofsinger, J., & Varma, A.
Financial Services Review, 16, 245-260, (2007)
Debiasing Recency: Evidence from Individual Investor Stock Sales
Kotomin, V., & Varma, A.
Journal of Behavioral Finance, https://doi.org/10.1080/15427560.2025.2485461
Presentations
The “Green” Geography: Corporate Environmental Policies and Local Institutional Investors
Abhishek Varma, Johan Sulaeman
Financial Management Association (FMA) International Annual Meeting, New Orleans LA, October, 2019
The "Green" Geography: Corporate Environmental Policies and Local Institutional Investors
Johan Sulaeman, Abhishek Varma
SKBI-TBLI Sustainable Finance Conference,, Singapore, October, 2019
Institutional Investors and Corporate Social Responsibility
Abhishek Varma
Global Quant Investment Strategies Conference, New York New York, May, 2019
Do Large Losses Loom Larger Than Gains? Salience, Holding Periods, and the Disposition Effect
Vladimir Kotomin, Abhishek Varma
Financial Management Association, San Diego, CA, October, 2018
Institutional Investors and Corporate Social Responsibility
Abhishek Varma, Johan Sulaeman, John Nofsinger
Institute for Quantitative Investment Research (INQUIRE) - Autumn Seminar, Budapest Hungary, October, 2018
Fair Value versus Amortized Cost Measurement and the Timeliness of Other-than-Temporary Impairments: Evidence from the Insurance Industry
Urooj Khan, Stephen G. Ryan, Abhishek Varma
Ohio State University - Seminar, Columbus Ohio, September, 2018
Fair Value versus Amortized Cost Measurement and the Timeliness of Other-than-Temporary Impairments: Evidence from the Insurance Industry
Urooj Khan, Stephen G. Ryan, Abhishek Varma
Rice University - Seminar, Houston Texas, September, 2018
Fair Value versus Amortized Cost Measurement and the Timeliness of Other-than-Temporary Impairments: Evidence from the Insurance Industry
Urooj Khan, Stephen G. Ryan, Abhishek Varma
American Accounting Association (AAA) Annual Meeting, Washington District of Columbia, August, 2018
The "Green" Geography: Corporate Environmental Policies and Local Institutional Investors
Johan Sulaeman, Abhishek Varma
Asian Bureau of Finance and Economic Research (ABFER) Annual Meeting, Singapore Singapore, May, 2018
Fair Value versus Amortized Cost Measurement and the Timeliness of Other-than-Temporary Impairments: Evidence from the Insurance Industry
Urooj Khan, Stephen G. Ryan, Abhishek Varma
University of Waterloo - Seminar, Waterloo Canada, May, 2018
Fair Value versus Amortized Cost Measurement and the Timeliness of Other-than-Temporary Impairments: Evidence from the Insurance Industry
Urooj Khan, Stephen G. Ryan, Abhishek Varma
Tulane University - Seminar, New Orleans Louisiana, April, 2018
Fair Value versus Amortized Cost Measurement and the Timeliness of Other-than-Temporary Impairments: Evidence from the Insurance Industry
Urooj Khan, Stephen G. Ryan, Abhishek Varma
University of Florida - Seminar, Gainesville Florida, February, 2018
Fair Value versus Amortized Cost Measurement and the Timeliness of Other-than-Temporary Impairments: Evidence from the Insurance Industry
Urooj Khan, Stephen G. Ryan, Abhishek Varma
INSEAD - Seminar, Fontainebleau France, December, 2017
Do Large Losses Loom Larger than Gains? Salience, Holding Periods, and the Disposition Effect
Vladimir Kotomin, Abhishek Varma
Southern Finance Association (SFA) Annual Meeting, Key West Florida, November, 2017
The "Green" Geography: Corporate Environmental Policies and Local Institutional Investors
Johan Sulaeman, Abhishek Varma
Green Finance Conference, Shanghai China, May, 2017
The "Green" Geography: Corporate Environmental Policies and Local Institutional Investors
Johan Sulaeman, Abhishek Varma
University of Sydney- Seminar, Sydney Australia, May, 2017
The "Green" Geography: Corporate Environmental Policies and Local Institutional Investors
Johan Sulaeman, Abhishek Varma
University of Technology Sydney - Seminar, Sydney Australia, May, 2017
The "Green" Geography: Corporate Environmental Policies and Local Institutional Investors
Johan Sulaeman, Abhishek Varma
University of Melbourne - Seminar, Melbourne Australia, April, 2017
Cleaning up Dusty Closets? On the Increased Propensity of Individual Investors to Realize Longer-term Stock Losses in December
Vladimir Kotomin, Abhishek Varma
Financial Management Association (FMA) International Annual Meeting, Las Vegas Nevada, October, 2016
Institutional Investors and Socially Responsible Investments: It Just Makes (Economic) Sense
John Nofsinger, Abhishek Varma, Johan Sulaeman
Financial Management Association (FMA) International Annual Meeting, Las Vegas Nevada, October, 2016
Institutional Investors and Socially Responsible Investments: It Just Makes (Economic) Sense
Abhishek Varma, John Nofsinger, Johan Sulaeman
2016 Conference on the Impact of Corporate Social Responsibility, Winston-Salem North Carolina, April, 2016
Central Illinois Chapter, 2nd Quarter Education Breakfast (April 15, 2015): -Invited Non-refereed Presentation entitled, "Understanding the Impact of Gains and Losses on Individuals' Stock Selling Decisions?" -Presented some research results from my two working papers with Vladimir Kotomin
Abhishek Varma
Bloomington IL, , 2015
Cleaning up Dusty Closets? On the Increased Propensity of Individual Investors to Realize Longer-term Stock Losses in December
Vladimir Kotomin, Abhishek Varma
Southern Finance Association (SFA) Annual Meeting, Captiva Florida, November, 2015
On the Increased Propensity of Individual Investors to Realize Long-term Stock Losses in December
Vladimir Kotomin, Abhishek Varma
Eastern Finance Association, New Orleans, LA, April, 2015
Cleaning up Dusty Closets? On the Increased Propensity of Individual Investors to Realize Longer-term Stock Losses in December
Vladimir Kotomin, Abhishek Varma
Midwest Finance Association (MFA) Annual Meeting, Chicago Illinois, March, 2015