Brief Resume: Rakesh Gupta
37 Prince of Wales Pde., Alexandra Hills QLD 4161
Phone: +617 3735 7593, Mobile +61 400 707 212,
Email: r.gupta@griffith.edu.au
Summary of Academic and professional Qualifications:
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PhD. Central Queensland University, 2009
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Audited Empirical Methods in Finance in winter 2009 at Carlson School of Business,
University of Minnesota, Minneapolis, USA
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Completed one day Tutor’s Workshop, CPD, Macquarie University 2002
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M. Com. (Accounting & Finance) from Macquarie University in 2001
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MBA (Finance) from Utkal University, India in 1989
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B. Sc. From Rajasthan University, India in 1986
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Member of Institute of Certified Management Accountants.
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Member of ‘Association of Financial Services Educators’.
Summary of work:
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Employed with Griffith University as Senior Lecturer Finance/Financial Planning with
effect from January 2011 I am currently teaching subjects in finance and investments and
an honours/doctoral subject in special topics in finance.
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Prior to this I was employed as Senior Lecturer with Central Queensland University with
effect from 2009. Prior to this appointment I was working with CQU as a Lecturer since
January 2006. During the period I have taught postgraduate and undergraduate finance
courses. I have been actively pursuing my research objectives and currently in the process
of developing a major grant application. Currently I am teaching Fundamentals of
financial planning, Advanced financial planning, Introductory finance, International
finance, Investments, Property finance and investments, Risk management and
derivatives at postgraduate and undergraduate levels.
At CQ University I was also Deputy-Dean of school of Commerce and Law and Program
coordinator of the programs in Economics and Finance. I also head Business Research
Group under the umbrella of Institute for Resource Industries and Sustainability. I am
responsible for the accreditation for programs in financial planning that includes;
Bachelor of Financial Planning, Bachelor of Financial Planning/Bachelor of Accounting,
Graduate Diploma of Financial Planning and Graduate Certificate in Financial Planning.
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I was employed as Casual Lecturer with Charles Sturt University, teaching Finance
subjects to undergraduate and postgraduate students from July 2004 to date. During this
period, fellow staff members and students have been satisfied with my work.
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I was employed with Macquarie University as Casual tutor, teaching Finance and
Accounting subjects, with effect from 2001 to 2004. During this period fellow staff
members and students appreciated my work.
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I worked with Transaxiom (Asia Pacific) Pty. Ltd. From Jan 2003 to August 2003 as
Finance Controller. I successfully carried out the transition of business from its previous
owners to this newly formed subsidiary. Maintaining equilibrium between the
profitability of the local company and the group objectives was a challenge that I
successfully achieved. The Managing Director of the company and group Finance
Director in Denmark equally appreciated my work

I worked with Rahul Fashions Pvt. Ltd., India from Dec. 1998 to Dec 1999 as Manager
Exports and Finance. During the period I was working with this company I managed to
streamline the operations and reduce the lead time to ensure that orders were dispatched
in time thereby minimising the cancellations and late penalties because of late deliveries.
I also effectively looked after the operations of the business in the absence of the
Managing Director, who was away frequently because of his health problems.
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I worked as Manager Project Finance with Premier Clothing Co. Ltd., from 1996 to Dec.
1998. I was Successful in negotiating the brand name franchise with Walt Disney for
India, Bangladesh and Nepal territories.

I worked with Haryana Fibres Ltd. as Manager Finance, 1995 to 1996. This was a new
project and I was successful in implementing the project in time.
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Worked with Khokharia Portfolios Ltd. From 1992 to 1995 as Manager Finance.
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Worked with RITCO Travels as Sales Officer from 1991 to 1992
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Worked with State Farms Corporation Ltd., starting as Management Trainee and then as
Marketing Officer, from 1989 to 1991.
Research activities
Text Book publication/writing
International Diversification an Australian Perspective: International Diversification of
Australian Equity Portfolios into Emerging Equity Markets, Saarbrucken, VDM Dr. Muller
Articles published/accepted in refereed journals.
Guidi, F. and Gupta, R. (2013). Market efficiency in the ASEAN region: evidence from
multivariate and cointegration tests, Applied Financial Economics, vol. 23 (4)
Hicks, J. Sappey, R. Basu, P. Keogh, D. and Gupta, R. (2012) Succession planning in
Australian farming, Australasian Accounting Business and Finance Journal, vol 6(4), pp.
94-110
Gupta, R. and Guidi, F. (2012). Cointegration relationship and time-varying co-movements
among Indian and Asian developed stock markets, International Review of Financial
Analysis, vol. 21, pp 10-22
Gupta, R. and Basu, P. K. (2011) Sector diversification benefits – Comparative analysis of
Australian and Indian markets, Asia Pacific Journal of Economics and Business, vol 15(1)
Guidi, F. Gupta, R. and Maheshwari, S. (2011) Weak-form market efficiency and calendar
anomalies for Eastern Europe equity markets, Journal of Emerging Markets Finance, vol.
10(3), pp 337-389
Gupta, R. and Yang, J. (2011) Testing weak form efficiency in the Indian capital market,
International Research Journal of Finance and Economics, vol. 75
Gupta, R. and Jithendranathan, T. (2011) Transmission of volatility across markets: A
study of co-movement between Australian and emerging equity markets (with T.
Jithendranathan), Advances in Financial Planning and Forecasting, vol. 4, pp 99-122
Goel, K. and Gupta, R. (2011) Impact of globalisation on Stock market development in
India, Delhi Business Review, vol 12 (1), pp. 69-84
Bruce, K. and Gupta, R. (2011) The financial planning education and training agenda in
Australia, Financial Services Review, vol. 20, pp 61-74
Bruce, K. and Gupta, R. (2011) Global Financial Planning Education Standards, Journal of
Modern Accounting and Auditing, vol. 7(11), pp 1169-1178
Gupta, R. and Paramati, S. R. (2011) An Empirical Analysis of Stock Market Performance
and Economic Growth: Evidence from India, International Research Journal of Finance
and Economics, vol. 73, pp 133-149
Gupta, R. and Jithendranathan, T. (2010) Short-sales Restrictions and Efficiency of
Emerging Option Market: A Study of Indian Stock Index Options, International Research
Journal of Finance and Economics, vol. 46, pp 99-109
Gupta, R. and Donleavy, G. D. (2009) Time-varying Correlations and Optimal Allocation
in Emerging Market Equities for Australian Investors, Journal of Multinational Financial
Management, vol. 19, issue 2
Gupta, R. and Basu, P. K. (2009) Sector Analysis and Portfolio Optimization: The Indian
Experience, International Business & Economics Research Journal, Vol. 8, No.1
Gupta, R. and Basu, P. K. (2008) Portfolio Optimisation in the Indian Stock Market:
Industry Sector Analysis, Delhi Business Review, Vol. 9, No. 1, Jan.-Jun. 2008
Gupta, R. and Jithendranathan, T. (2008) Time Varying Correlations and Optimal Allocations
in Emerging Market Equities for Australian Investors: A Study Using East European
Depository Receipts, International Research Journal of Finance and Economics, Vol. 18
Gupta, R. and Mollik, A. T. (2008) Volatility, Time Varying Correlation and International
Portfolio Diversification: An Empirical Study of Australia and Emerging Stock Markets,
International Research Journal of Finance and Economics, Vol. 18, Aug. 2008
Gupta, R. and Basu, P. K. (2007) Weak Form Efficiency in Indian Stock Markets,
International Business & Economics Research Journal, Vol. 6, No. 3, March 2007
Gupta, R. and Basu, P. K. (2007) Have We Learnt anything from the Asian Crisis?
Looking at the Crisis from the Perspective of India, Delhi Business Review, Vol.8, No. 1,
Jan-June, 2007
Gupta, R. (2006) Benefits of Diversification into Emerging Equity Markets with Changing
Correlation: An Australian Perspective, International Review of Business Research Papers,
Vol. 2, No. 4, Dec.2006, pp 22-38
Papers presented at fully refereed conferences and published in conference
proceedings
2012
International diversification a small equity market perspective (with Shu Ling Lin)
Presented at Asian FA conference at Taipei from July 6 to 10, 2012
International equity markets integration: Evidence from global financial crisis and
structural breaks (with S. R. Paramati and Professor E. Roca). Accepted - Emerging
Markets Risk Management Conference, Hong Kong August 15 to 17, 2012
Information transmission between emerging market American Depositary Receipts
(ADRs) and their underlying stocks: The case of Brazil, Russia, India and China (BRICs)
(with T. Yuan and Professor E. Roca). Accepted - Emerging Markets Risk Management
Conference, Hong Kong August 15 to 17, 2012
2011
Looking at new markets for international diversification: Frontier Markets (with A.
Sukumaran and T. Jithendranathan) presented at 24th Australasian Finance and Banking
Conference, Sydney, 14-16 December 2011
2009
Cointegration and conditional correlations among German and Eastern Europe equity
markets has been accepted for Australasian meeting of the Econometric Society, 2009 to be
held in Canberra, 7th July to 9th July 2009 (with F. Guidi)
Testing Random Walk Hypothesis and Day of the Week Effect for Central and Eastern
Europe Equity Markets has been accepted for Tenth International Conference: UN
Millennium Development Goals: Challenges and Perspectives to be held in Szent Istvan
University, Hungary on 23rd to 26th June 2009 (with F. Guidi)
2008
Time-varying Correlations and Optimal Allocation in Emerging Market Equities for
Australian Investors, was presented at the AFAANZ 2008, Sydney, 6th to 8th July.
2007
What Causes Correlations of Equity Returns to Change over time? A Study of the
Australian and Emerging Equity Markets, 14th Annual Global Finance Conference, April
1-4, 2007, Melbourne (with G. Hobbes and G. Loudon)
Transmission of volatility across markets – A study of Australian and emerging equity
markets has been submitted to International Conference on Global Research in Business
and Economics to be held in Bangkok on 27th to 29th Dec. 2007 (with T. Jithendranathan).
2006
Are Indian Stock Markets Efficient? Test of Weak form Efficiency in BSE and NSE,
Conference proceedings: 3rd International Conference on Contemporary Business, 21-22
September 2006, Leura, Australia (with P. K. Basu)
Capital Flows to Emerging Markets from Australia: The Facts, Conference proceedings:
3rd International Conference on Contemporary Business, 21-22 September, 2006, Leura,
Australia
Is the Growth in China sustainable with the existing financial structure?, The Joint 14th
Annual PBFEA and 2006 Annual FeAT conference, 14-15 July 2006, Taipei (With Dai,
Xu)
2005
Are there benefits to Australian investor from diversification in emerging markets?, Asian
Finance Conference 2005, July 10 to 13, Kuala Lumpur, Malaysia (with G. Hobbes).
Chapter in edited book:
Capital flows to emerging markets from Australia: facts', in P Basu, G O'Neill & A
Travaglione (eds), Engagement & Change: Exploring Management, Economic and Finance
Implications of Globalising Environment, (pp. 167-174) Australian Academic Press, Bowen
Hills
Other publication (not refereed)
2010
Always assess the risk in Morning Bulletin, Rural Weekly Central Queensland, page 19
11th June 2010 and 18th June 2010.
2009
Hedge Funds: Scurrying for cover, "The Analyst" March 2009
Emerging markets: Return of the Bears, "The Analyst", February, pp. 10-12,
2008
Globalisation: a bright idea, Money Management, February, pp. 26-32 (with Ken Bruce)
Keynote Address
12th International Seminar: A review of Global Financial Planning Education Standards
Editorial membership
Editor: Delhi Business Review (ERA ranked journal)
Editor: Indian Journal of Finance
Managing editor: Review of Emerging Market Business Research
Editor: Journal of Personal Finance and Investments
Academic Leadership
Leader: Business Research Group (BRG) as part of IRIS. First issue of the working paper
collection of the BRG is ready for publication (co-edited by Professor Sheikh Rahman and
Dr. Kristy Richardson).
Research Higher Degree Supervision - PhD
Completed/recently submitted
Shikin Marzuki
Junhao Yang,
Close to submission
Ashwini Sukumaran – Enrolled at CQ University
Enrolled at Griffith University
Sudarshan Reddy Paramati, Tania Driver, Tian Yuan, Jason Hay, Scott Pappas, Abdulaziz
Abdulsleh, Md Nurul Kabir
Honours students completed
Tian Yuan and Jordan Karlos
PhD Qualifying students
Foud Omar Jamani
Phil Oxenbridge
Conference Organisation
Organised inaugural Personal Finance and Investments Conference, Novemeber 2011
(sponsored by Griffith University), second conference is being organised by Victoria
University
Other research initiatives:
I have been invited to be reviewer for different refereed conferences as reviewer for the
papers in my area of specialisation from time-to-time.
I am providing research guidance to the group of researchers at the Delhi School of
Professional Studies and Research, Delhi, India.
Community Engagement
I am member of the Rotary Club of Rockhampton and was elected President for the year
2007-2008
I am member of the steering committee for newly set up charity of the CQ University, CQ
University Cares.
Member of the core committee of Indian Association