Dr. Shradhanjali Panda

Room No. - ,
Department of DBA


Dr. Shradhanjali Panda, MBA in Finance and Ph. D from Utkal University is currently working as Assistant Professor and is associated with the department for last 6 years. Her core area is Finance.  She has twelve years of teaching experience.  She also has three years of industry experience before joining academics.  Prior to Ravenshaw University, she served in different Business Schools.  Dr. Panda has published more than forty research articles in different National and International journals of repute.  She has authored two books to her credit and presented papers in more than fifty National and International Conferences.  Apart from teaching, Dr. Panda is course co-ordinator of MBA 2nd year & IMBA 10th Semester, faculty-in- charge of departmental library and member of Departmental Board of Studies.  Her research areas are Equity Valuation, Portfolio Management, Value & Growth Investment strategies and Market Efficiency.  

Selected Publications

  • Group
  • Research
  • Publications
  • Teaching



Journal Articles (International & National)

  1. Mitra, A. & Panda, S. (2020). Factors Affecting usage of Internet for Academic Purpose by University Students in Smart City Bhubaneswar: A SEM Approach. High Technology Letters. 26 (5), 493-499. (
  2. Mitra, A. & Panda, S. (2020). Horticulture and Economic Growth in India: An Econometric Analysis. Journal of Applied Horticulture.  22 (3), 46-54. (Scopus Indexed).
  3. Panda, S. & Mitra, A. (2020). An Investigation on Performance of Key Predictor Ratios in Stock Selection.   Purakala.  31 (40), 140-155.
  4. Panda, S. & Sahoo, S. (2020). Whether Purchase Intention of New Financial Products Focus on Learning? An Investigation to Answer through a Conceptual Model.   Purakala (UGC Care Journal), 31(43).
  5. Das, K. & Panda, S. (2019). A Comparative Study on Role of Fundamentals in Stock Valuation.  The Orissa Journal of Commerce. 40, 13-22.
  6. Panda, S. (2019). A Comparative Study of Accuracy of Stock Valuation Models: With Special Reference to Market.  Management Page. 9, 19-29.
  7. Panda, S. & Mitra, A. (2018). Value vs Growth stocks: Evidence from Indian Stock Market. International Journal of Business, Management & Allied Sciences (IJBMAS), 5, 26-31.
  8. Mitra, A. & Panda, S.  (2018). A Study on Contribution of Education Sector to Startup Odisha.   Sumedha- Journal of Management. 7 (3 & 2), 68-74.
  9. Ali, S. & Panda, S.  (2018). Digital Footprint in Indian Mutual Fund industry. Shodhaditya Research Journal, 5, 29-34.
  10. Panda, S. & Mohanty, M. (2018). Carbon Credit Trading in India: Problems and prospects. Pratibimba. 18, 7-10.
  11. Panda, S. (2017). Impact of Economy on Stock Price Behaviour: Special Reference to Indian Banking Sector. Consulting Ahead: The Journal of Consultancy Development Centre, Ministry of Science and Technology, Govt. of India. 11 (1), 94-102.
  12. Mitra, A. & Panda, S. (2017). Crimes against Women: A Social Barrier to Economic Development.  Orissa Economic Journal, 48 (1 &2), 154-160.
  13. Panda, S. & Mitra, A. (2016). Impact of Gaps on Stock Returns: A Comparative Study between trading vs Non-trading hours. Gitam International Review. 8 (1), 77-84.
  14. Mitra A, & Panda, S. (2016). Measures taken by banks towards environmental sustainability. IPSAR Management Review. 15 (1), 33-36.
  15. Mitra, A. & Panda, S. (2016). Interstate level wise disparity in higher Education. Orissa Economic Journal. 48 (1& 2).
  16. Mitra, A. & Panda, S. (2016). UTBIs: A Solution for Educated Unskilled Work-force in India.  Small Enterprises Development, Management and Extension Journal (SEDME). 43 (4), 29-40.  
  17. Mitra, A. & Panda, S.  (2016). Education and Economic Reform: Impact of Juvenile Crime Rate.  IPSAR Management Review. XIV (2), 45-50.
  18. Panda, S. & Mitra, A. (2015). Role of Commodity Derivative in Financial Inclusion: With Special Reference to Indian Agricultural Sector. Orissa Economic Journal, 47 (2), 27-37.
  19. Mitra, A. & Panda, S. (2015).  Should India follow the Global CSR Trend of Financing Tertiary Education? SEDME Journal.  42 (4), 29-36.
  20. Mitra, A. & Panda, S. (2014). The Dynamics of Linkage of Agricultural and Industrial Sectors to Economic Growth of Odisha.  Orissa Economic Journal.   46 (1 & 2), 75-82.
  21. Mitra, A. & Panda, S. (2014).  Carbon Tax: An Emerging Tool for Environmental Sustainability.  BIITM Business Review, 5 (2), 64-75.
  22. Panda, S. (2013). Comparison of Fundamental Value and Market Value: A Case Study of HeroMotoCo. International Journal of Humanities and Social Science Invention, 2 (4), 16-20.
  23. Mitra, A. & Panda, S. (2013). A Rising Tide lifts all Boats. Global Journal of Management and Business Research, 13(3), 29-31.
  24. Panda, S. (2013). Valuation of Selected Indian Stocks Using Discounted Cash Flow Technique. International Journal of Business and Management Invention. 2(7), 9-17.
  25. Panda, S. (2013). Multiplier Approach Vs Constant Growth Model: Valuation of Selected Indian Pharma Stocks. Asian Journal of Research in Business Economics and Management, 3(10), 49-54.
  26. Panda, S. (2013). Value vs Price: A Case Study of Hindustan Unilever Stock. The Management Page. 4 (1), 49-58.
  27. Kar, N. & Panda, S. (2012). Estimation of Fundamental Value and Its Relationship with Market Value: Study of the selected Pharma Stocks. The Management Page. 2 (2).
  28. Mitra, A. & Panda, S. (2012). The Darkest hour is that before the Dawn: A Special Reference to FDI in India. BIITM Business Review. 3 (2), 14-23.
  29. Panda, S. & Mohanty, M. (2011). A Comparative Study of Fundamental and Market Value of Selected Indian Pharma. The Research Network. 6 (4), 17-24.
  30. Panda, S. & Mishra A. (2011). Corporate Governance: Journey of “Satyam” to “Mahindra Satyam”. Kushagra International Management Review, 1 (1), 32-36.
  31. Mohanty, M. & Panda, S. (2011). Semi strong form test on Announcement of Share buyback. European Journal of Social Science (EJSS). 22 (2), 193-201. (Scopus Indexed).
  32. Ghosh, S. & Panda, S. (2011). A Comparative Study of Investor’s Return in various Indian industries During Post Crisis Period. BIITM Business Review, 2 (2), 24-33.
  33. Panda, S. (2011). The Measurement of Volatility of Indian Stock Market during Post Recession Period. BIITM Business Review. 2 (1), 115-125.
  34. Panda, S. & Padhi, J. (2011). Merger & Acquisitions in India: A Semi Strong form Test of Market Efficiency. Srusti Management Review. 4 (2), 47-54.

Chapters in edited book :

  1. Das, K. & Panda, S. (2019). A Study on Assessment Model for Faculty Evaluation. Examination Reforms for Quality Higher Education in India: Challenges & Opportunities. 18-22. New Delhi Publisher. 978-93-5321-236-0
  2. Panda, S. (2017). Green India Mission: With Special Reference to CDM Market.   Envisioning Sustainability for New Age Business.  ASM, BBSR, 210-214. 978-93-5281-513-5
  3. Panda, S. & Mitra, A. (2016). Profitability vs Morality: An Inter Country Comparative Study of CSR Activities.  Global Business: Creating, Performing and Sustaining. ASBM Publications. 112-118. 978-93-82951-36-0
  4. Mitra, A. & Panda, S. ( 2015). CSR- A Tool for Enhancing Employability Skill. Intelligence, Innovation & Inclusion: Best Practices for Global Excellence. Vijay Nicole Imprints. 172-181. 978-81-8209-446-8
  5. Panda, S. (2015). Impact of Trading and non-trading hour on Stock price behavior; A Comparative Study. Recent Trends in Skill Development (Management Aspects). Enkay Publishing House, New Delhi. 67-71. 978-93-85291-08-1
  6. Panda, S. & Mitra, A. (2015). The Valuation of Cash flow Forecast: With Special Reference to CNX Finance Index.  Frontiers of Infrastructure Finance: Issues & Challenges.  271-283. BLOOMSBURY Publication. 978-93-84898-89-2
  7. Panda, S. & Mitra, A. (2013). A Comparative Study on Volatility of Selected Indian Sectors with that of Market.  An Application on Computational and Financial Econometrics. BLOOMSBURY Publication. 36-40. 978-93-82951-
  8. Panda, S. (2013). Challenges in Equity Valuation; Discounting Cash Flow vs Relative Earnings. Novelty & Challenges in Management for Change. Enkay Publishing House, New Delhi. 65-72. 978-93-80995-99-1
  9. Ghosh, S. & Panda, S. (2012). Road of Challenges and Destination of Success: A Case Study of Health Food Product (P) Ltd. Entrepreneurship: Innovations and Strategy. HIMALAYA Publication. 23-27. 978-93-5051-307-1
  10. Mohanty, M. & Panda, S. (2012). Assessment of Fundamental Value and Its Relationship with Market Price. Project Financing, Bloomsbury Publication. 2-5. 978-81-924302
  11. Swain, K. & Panda, S. (2012). Role of Effective Managerial Leadership for Development of an Organization.  Contemporary Issues in Human Resource Management Development Initiatives. HIMALAYA Publication. 34-38. 978-93-5051-558-7
  12. Mohanty, M.  & Panda, S. (2011). Efficiency of Indian Index Future Market: Before, During and After the Financial Crisis Period. Infrastructure Finance Issues and Challenges. MACMILLAN Publication.48-55. 0230-33215-3
  13. Panda, S. & Mohanty, M. (2009). Investment Performance of Common Stocks & P/B Ratio. Financial Sector: Contemporary Issues.  ICFAI Business School. 79-84. 978-93-88879-10-1

Conference Proceedings and Papers :

  1. Panda, S. & Mitra, A. (2019). “Horticulture and Economic Growth of India: An Economic analysis” in the 6th Agro-Horticulture Supply Chain Conference organised by UPES, Dehradun on 4th and 5th
  2. Das, K. & Panda, S. (2019). “A Comparative Study on Valuation Accuracy of P/E and P/B ratio” in 72nd All India Commerce Conference and International Seminar organised by KIIT Deemed to be University, Bhubaneswar on 22nd to 24th
  3. Panda, S. (2019). “Emerging Developments and Future Trend in Carbon Trading: A Global Prospective” in the International Seminar on “Socio-Economic Impact of Climate Change and Urbanisation” organised by Berhampur University, Berhampur on 2-3 February.
  4. Panda, S. & Mitra, A. (2019) “Growth sustainability and Stock Prices: An Empirical Investigation in Indian Banking Sector” in the International Seminar and 40th All Odisha Commerce Conference organised by KIIT, Bhubaneswar during 20-21 December.
  5. Mitra, A. & Panda, S. (2018) “Skill Odisha” in the International Seminar on “Economic Ascendancy of India: Issues & Challenges” organised by Utkal University on June 28.
  6. Mitra, A. & Panda, S. (2018). “Emerging Trends in Agribusiness Management: Prospects & Challenges” in the International Conference on “Emerging Trends in Agribusiness Management: Prospects & Challenges” organized by Kalaam Institute of Technology on 17th and 18th
  7. Panda, S. (2018).“ Payment Bank: A Digital Paradigm in Smart Infrastructure” in the International Management Convention organized by ASBM, Bhubaneswar held on 11th, 12th and 13th
  8. Panda, S. & Mitra, A. (2018). “Digital Footprint in Indian Mutual Fund Industry” in the International Seminar on “Strategy in a Digital World” organised by AIMSR, Mumbai on 16th
  9. Panda, S. & Mitra, A. (2018). “Value vs Growth Stocks” in the International seminar on Recent Trends in Management, Commerce and Social Sciences (RMTCSS-18) organised by RIMS, Rourkela on 20th
  10. Mitra, A. & Panda, S. (2018). “CSR: Challenges in Management Practices” in the International Conference on “Global Business Management Practices: Emerging Trends and Challenges” organised by Pondicherry University on 27th and 28th
  11. Panda, S. (2017). “A Study on Economic Prospective and Stock Price Behaviour” in the International Conference on Applied Economics and Finance organised by GITAM School of International Business, Vizag on 28th January, 2017.
  12. Panda, S. (2017). “A Study on Market Reaction to the announcement of Demonetization in India” in the International Conference on FMCF organized by VGSOM, IIT Kharagpur on 7th and 8th July, 2017.
  13. Panda, S. & Mitra, A. (2017). “A Study on Impact of Day and Night on Stock performance” in ISFIF 2017 organised by VGSOM, IIT Kharagpur on 14th and 15th
  14. Panda, S. & Mitra, A. (2017). “Global Economic Scenario through Economic Windows: A comparative study of Inter country stock exchange” in International Seminar on “ International Economic Scenario & Economic Order” organized by GM University, Sambalpur on 17th and 18th
  15. Panda, S. & Mitra, A. (2017). “Payment Banking System: A Step Towards Digital Economy” in the International Conference on “Multi-disciplinary Applications in Knowledge Economy-2017” organized by IBCS, SOA University on 29th and 30th
  16. Panda, S. & Mitra, A. (2017). “Carbon Credit Trading in India: Problems and Prospects” in the International Conference on “Sustainability: Innovations, Emerging Trends and Practices” organized by IMIS on 12th and 13th
  17. Mitra, A. & Panda, S. (2016). “Profitability to Morality: An Inter Country Comparative Study of CSR activities” in 5th International Management Convention on “Global Business: Creating, Performing and Sustaining” organized by ASBM, Bhubaneswar on 15th & 16th
  18. Panda, S. & Mitra, A. (2016). “Payment Banks in Digital India: A Contemporary Issue in Management” in the International Conference on “Cross Cultural Dimensions of Management: Issues and Challenges in the era of Globalisation” organized by Berhampur University on 24th and 25th
  19. Panda, S. & Mitra, A. (2014). “Valuation of Discounted Cash flow: Special Reference to CNX Nifty Finance Index” in the International Conference on “Frontiers of Infrastructure Finance” organized by IIT Kharagpur, during 13th-15th
  20. Panda, S. & Mitra, A. (2012). “A Comparative Study on Volatility of Selected Indian Sectors with that of Market” in the International Conference “Computational & Financial Econometrics” organized by IIT Kharagpur on 4th
  21. Panda, S. & Mitra, A. (2011). “Efficiency of Indian Index Future Market: Before, during and After the Financial Crisis Period” in the International Conference “Frontiers of Infrastructure Finance” organized by IIT Kharagpur on 10th
  22. Panda, S. & Mishra, A. (2010). “CSR Activity Vs Publicity Stunt” in the International Conference on “Sustainable Development” organized by Kushagra Institute of Management Science on 19th & 20th February .
  23. Panda, S. & Mitra, A. (2010). “Efficiency of Indian Derivative Market: Before, during and after the Financial Crisis” in the International Conference on “Infrastructure Finance” organized by IIT Kharagpur during June 03-05.
  24. Panda, S. & Mishra, A. (2009). “Core Banking to Banc assurance: An Empirical Study on The Impact of Innovative Ideas on Investor’s acceptance” in the International Seminar organised by DRIEMS on April 24 & 25.

Books :

  1. Panda, S. & Das, K. (2019). Fundamentals of Mutual Fund: A Beginner’s Module, Kunal Books, ISBN: 978-94-89224-12-2.New Delhi.
  2. Das, K. & Panda, S. (2019). Banking and Entrepreneurship: Recent Trends and Opportunities, Prajwal Books, ISBN: 978-81-933962-4-7. New Delhi.

Teaching :

  1. Financial Management
  2. Security Analysis & Portfolio Management
  3. Financial Derivatives & Risk Management
  4. Financial Institutions & Services