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Anil Shivdasani - UNC-Chapel Hill. Chapel Hill, NC, US

Anil Shivdasani Anil Shivdasani

Wells Fargo Distinguished Professor of Finance, UNC Kenan-Flager Business School | UNC-Chapel Hill

Chapel Hill, NC, UNITED STATES

Dr. Shivdasani is an award-wining teacher of M&A and corporate financial strategy.

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Biography

Anil Shivdasani is the Wells Fargo Distinguished Professor, director of the Wells Fargo Center for Corporate Finance, and a Sarah Graham Kenan Distinguished Scholar.

He is an award-winning teacher of mergers and acquisitions and corporate financial strategy.

His areas of expertise include corporate valuation, capital structure, financing strategies, mergers and acquisitions, and corporate governance.

Dr. Shivdasani took academic leave to work as a managing director in the investment banking division at Citigroup Global Markets Inc. He has advised leading companies across the globe on strategic financial issues including valuation, capital structure, capital requirements, credit ratings, financial policy, M&A issues, liquidity management, acquisition financing, convertible instruments, pensions and corporate governance.

He has worked on numerous M&A and capital market financing assignments and his transactional experiences includes IBM’s acquisition of PwC Consulting, which received the Investment Dealer Digest Award for Best Technology Deal of the Year in 2002. He served as exclusive financial advisor to the U.S. Navy in its evaluation of Northrop Grumman’s spin-off of Huntington Ingalls Industries in 2011.

His background includes extensive experience with clients in the financial services, industrial, and technology sectors. He has written several widely circulated investment banking reports on current financial trends such as transformational M&A, pension plan underfunding, the credit crisis, banking sector turmoil, sovereign wealth funds, hedge fund activism, private equity, leveraged restructurings, mergers and acquisitions, initial public offerings, share buybacks, dividend policy and hybrid securities.

Dr. Shivdasani is the author of numerous corporate finance articles that have appeared in the leading academic journals in finance, including Harvard Business Review, the Journal of Finance, Review of Financial Studies and Journal of Financial Economics. His research has been discussed in The Wall Street Journal, The New York Times, Financial Times, Sloan Management Review, Businessweek, CFO, Treasury and Risk Management, Reuters Merger Week and Directorship.

Industry Expertise (3)

Education/Learning Research Financial Services

Areas of Expertise (15)

Mergers and Acquisitions Corporate Financial Strategy Corporate Valuation Capital Structure Financing Strategies Corporate Governance Strategic Financial Issues Valuation Capital Requirements Credit Ratings Financial Policy Liquidity Management Acquisition Financing Convertible Instruments Pensions

Accomplishments (1)

Bullard Impact Award (professional)

2014

Awarded for the research impact of his research on business practices

Education (2)

Ohio State University: Ph.D., Finance

Delhi University: B.A., Economics

Affiliations (6)

  • Asian Institute for Corporate Governance : Research Fellow
  • Center for Corporate Governance at Drexel University : Research Fellow
  • Journal of Finance : Associate Editor
  • Financial Management : Associate Editor
  • Review of Financial Economics (Journal) : Associate Editor
  • Corporate Governance and Control : Associate Editor

Media Appearances (5)

Hedge Funds And Activism Merger

ValueWalk  online

2015-12-08

Activist hedge funds play a critical role in the market for corporate control. Activists foster acquisition activity at targeted firms through the intensity of their engagement with management and their prior record in activism mergers. Activism targets experience a six-to-eight times higher likelihood of receiving a takeover bid relative to firms in which the same activist hedge funds have passive ownership stakes...

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The Big Number

The Wall Street Journal  online

2015-06-08

Anil Shivdasani, a finance professor at the University of North Carolina’s Kenan-Flagler Business School, said Companies are finding it hard to raise prices, limiting their ability to turn business investments into more cash. In April, seasonally adjusted inflation in the U.S. was down 0.1% from a year earlier...

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The investors behind the Kraft-Heinz merger

Marketplace  radio

2015-03-25

In this case, the details are about cutting costs, as Berkshire Hathaway and 3G have done at Heinz, which they purchased in 2013. In order to reach their declared cost reduction target for Kraft of $1.5 billion by 2017, Anil Shivdasani, professor of finance at the Kenan-Flagler Business School at UNC-Chapel Hill, says there's "no question" this will mean lay-offs...

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Two Is Better Than One: Why Big Tech Companies Are Splitting Up

Forbes  online

2014-10-16

Data from a recent study done by Anil Shivdasani, a finance professor at the University of North Carolina’s Kenan-Flagler Business School, provides two simple answers: increased financial strength and shareholder value.

Shares of North American conglomerates were outperformed by their split-up rivals by an average of 11.4 percent from 2000 to 2010, Shivdasani found.

Not only that, but Shivdasani’s data also found that in the three months following an organization’s announcement of a split, their shares outperformed their rivals by 6 percent, a trend believed to be set to continue...

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Hewlett-Packard Split Comes as More Investors Say Big Isn’t Better

The Wall Street Journal  online

2014-10-06

Trian’s argument has some support in the data. Shares of North American conglomerates underperformed their more focused rivals by 11.4% on average from 2000 to 2010, according to a study from Anil Shivdasani, a finance professor at the University of North Carolina Kenan-Flagler Business School. Shares of companies that announced a spinoff outperformed peers by 6% in the three months around the announcement. Professor Shivdasani said Monday the data remained similar through the end of last year...

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Articles (5)

The Art of the Megadeal Harvard Business Review

The authors analyzed 215 larger mergers that took place across the globe from 2000-2010.

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Do you know your cost of capital? Harvard Business Review

With $2 trillion at stake, the the time has come for honext debate among business leaders and financial advisers about how best to determine investment time horizons, cost of capital, and project risk adjustment. And it is past time for non-financial corporate directors to get up to speed on how the companies they oversee evaluate investments.

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Venture Capitalists in Mature Public Firms Review of Financial Studies

Using data on the backgrounds of board members of S&P companies, the authors show that venture capitalists (VCs) play an important role in mature public firms long after their initial public offering (IPO).

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Assessing TARP Review of Financial Studies

The authors study the government equity infusions and the incentives of banks to participate in the Capital Purchase Program (CPP) of the Troubled Asset Relief Program (TARP).

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Are busy boards effective monitors? The Journal of Finance

2006

ABSTRACT: Firms with busy boards, those in which a majority of outside directors hold three or more directorships, are associated with weak corporate governance. These firms exhibit lower market-to-book ratios, weaker profitability, and lower sensitivity of CEO turnover to ...

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