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Jahangir Sultan

Professor, Finance
Advisory Committee, ICBF, India
Advisory Board Member, Artico Partners, Zurich, Switzerland
Advisory Board Member, Partnership in Social Development
Senior Advisor, Green Technologies Limited
Member of the Editorial Board, International Journal of Accounting and Finance
External PhD Supervisor, ICFAI, Hyderabad, India
Founding Director of the Hughey Center for Financial Services
Ph.D., Arizona State University, 1986
Office: Adamian Academic Center 271 | 781.891._2518 | jsultan@bentley.edu
                       


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Bio

Founding Director, The Hughey Center for Financial Services. Research interests include international finance, international investment, financial liberalization in emerging economies, and time-series modeling. Has articles published or forthcoming in the Journal of Financial and Quantitative Analysis, Journal of International Money and Finance, Journal of Financial Research, Journal of Financial Engineering, Journal of Business Finance and Accounting, Journal of Applied Financial Economics, Real Estate Review, Journal of Futures Markets, Open Economies Review, Pacific Basin Capital Markets Research, Review of Research in Banking and Finance, Binational Fulbright Working Paper Series, the Chicago Board of Trade Working Paper Series, and Columbia University Working Paper Series. Has received awards and grants from Chicago Board of Trade (CBOT), Binational Fulbright Commission, Bentley College, Columbia University, and the Asian Development Bank. Previously taught at Texas A&M University.

Teaching Interests

International financial management; International investment; Fixed income; Securities trading; Corporate finance

Research Interests

Foreign exchange exposure management, hedging, modeling volatility, and risk management issues; Corporate governance; Socially responsible investing-carbon trading; Risk management/Derivatives; Portfolio management; Effects of terrorism on financial markets

Consulting/Practice Interests

Setting up on campus trading rooms; Estimating volatility /GARCH; Portfolio optimization; Trading rules; Hedge funds analytic; Large international infra-structure projects

Professional Links

http://www.bentley.edu/faculty/sultan-jahangir

Professional Memberships

American Finance Association
Financial Management Association

Awards and Honors

2009, Best Paper Award for "Portfolio Diversification during Financial Crisis: An Analysis of Islamic Asset Allocation Strategy," with Maher Milly. Presented at the World Economic and Business Conference in Istanbul, August 12-14, 2009.
2008, "Options on Fed Funds Futures and Interest Rate Volatility," winner of the Best Paper Award at the Eighth International Business Research Conference, UAE, March 27-28, 2008. Presented by the World Business Institute, Victoria, Australia.
2007, Gibbons Professorship in Finance
1999, Bentley College Scholar of the Year
1995, Recipient of a travel award from the Federal Reserve Bank of Atlanta, to present at the Conference on "Derivatives and Systemic Risk", Washington, D.C., April 20, 1995.
1994, Bentley College Rauch Grant
1994, Chicago Board of Trade Educational Research Foundation ($10,000) for conducting research on interest rate swaps. Project Title: "Interest Rate Swaps and Futures Market Volatility." 1994.
1993, Rauch Faculty Enrichment Fund ($4500), 1993 for developing an innovative course in currency trading. Currently studying the possibility of developing a currency trading room.
1992, Fellowship ($2000) from The Binational Fulbright Commission in Cairo, Egypt to attend the Fulbright Symposium- Europe '92 and its Implications for Industrialized and Industrializing Economies, Cairo, Egypt, January 5-7, 1992.
1991, Bentley College Fellowship ($2000) to attend The European Community: 1992 and Beyond in Belgium, France, and Luxembourg. June 22-July 6, 1991.
1991, Recipient of a grant ($6000) from the Center for the Study of Futures Markets at Columbia University for "Foreign E change Futures and Time Varying Hedge Ratios" with Ken Kroner.
1990, Recipient of a travel award ($1500) from the Asian Development Bank and the Thailand Securities and E change to present "E change Rate Volatility and Time Varying Hedge Ratios," at the Second Annual Pacific-Basin Finance Conference in Bangkok, Thailand: June 3-6, 1990.

Publications

Journal Articles
Fletcher Brown, D., Buono, A. F., Frederick, R. E., Hall, G. J., Sultan, J. A Longitudinal Study of Ethics Education: Establishing the Baseline. Journal of Academic Ethics. Forthcoming

Bhatt, V., Shah, S., Sultan, J. Faith Based Investing: A Comparison among Islamic, SRI, and Conventional Investing.. Harvard Law School, ILSP, Islamic Finance Project (2013). Forthcoming

Sultan, J., Bhatt, V. (2013). Leverage Risk, Financial Crisis, and Stock Returns: A Comparison among Islamic, Conventional, and Socially Responsible Stocks. . Islamic Economic Studies , 20 (1). (link)

Bhatt, V., Sultan, J. (2013). Leverage Risk, Financial Crisis, and Stock Returns: A Comparison among Islamic, Conventional, and Socially Responsible Stocks. Islamic Economic Studies, 20 (1), 87-143.

Frederick, R. E., Buono, A. F., Fletcher Brown, D., Hall, G. J., Sultan, J. (2012). Longitudinal Study of the Effectiveness of Ethical Training at Bentley University. Journal of Academic Ethics.

Sultan, J. (2012). Options on Fed Funds Futures and Interest Rate Volatility.” Forthcoming, Journal of Futures Markets.. Journal of Futures Markets, 25, 330-359.

Buono, A. F., Fletcher Brown, D., Frederick, R. E., Hall, G. J., Sultan, J. (2012). Acting Ethically: Moral Reasoning and Business School Student Behavior. Society of Advanced Management, 77, 18-26.

Gulley, O. D., Sultan, J. (2011). Economics, Politics, and the Federal Funds Markets: Does the Fed Play Politics? Applied Financial Economics, 21 (14), 1005-1019.

Sultan, J., Hasan, M. S. (2008). The Effectiveness of Dynamic Hedging: Evidence from Selcted European Stock Index Futures. European Journal of Finance.

Sultan, J. (2005). Information Content of the Fed Funds Rates. Journal of Futures Markets, 25 (8), 753-774.

Gulley, O. D., Sultan, J. (2003). The Link Between Monetary Policy and Stock and Bond Markets: Evidence from the Federal Funds Futures Contract. with David Gulley. Applied Financial Economics, 13 (2003), 199-209.

Gulley, O. D., Sultan, J. (2003). Financial Market Reaction to Monetary Policy. Applied Financial Economics, 13, 199-209.

Gulley, O. D., Sultan, J. (1998). Consumer Confidence Announcements: Do They Matter? Applied Financial Economics, 8, 155-166.

Hogan, K., Kroner, K., Sultan, J. (1997). Program Trading, Non-Program Program Trading and Market Volatility. Journal of Futures Markets, 17 (October), 733-757.

Balogh, C., Sultan, J. (1997). Investing in Foreign Real Estate: A Primer. Real Estate Review, 27 (Spring), 73-81.

Fletcher Brown, D., Sultan, J. (1997). Cross Currency Swap Rates and Deviations from Interest Rate Parity. Journal of Financial Engineering, 6, 47-69.

Shastri, K., Sultan, J., Tandon, K. (1996). The Impact of the Listing of Options in the Foreign Exchange Market. Journal of International Money and Finance, 15 (February), 37-64.

Chowdhury, M., Kroner, K., Sultan, J. (1995). Volatility Spillover from Interest Rate Swaps. Journal of Financial Engineering, 4, 157-186.

Sultan, J. (1995). Stock Market Reaction to German Reunification. Journal of Business Finance and Accounting, 22 (September), 831-844.

Sultan, J. (1994). Trade Deficit Announcements and Exchange Rate Volatility: Evidence from the Spot and Futures Markets. Journal of Futures Markets, 14 (June), 379-404.

Fletcher Brown, D., Sultan, J. (1994). The Impact of Regulatory News and Discount Rate Changes on the Time Varying Volatility of Interest Rate Swap Spreads. Journal of Financial Engineering, 3 (September/December), 229-252.

Hogan, K., Sultan, J. (1994). Foreign Exchange Market Reaction to the U.S.-Canada Free Trade Agreement. Journal of Financial Research, 26 (Winter), 530-550.

Kroner, K., Sultan, J. (1993). Time Varying Distributions and Dynamic Hedging with Foreign Currency Futures. Journal of Financial and Quantitative Analysis, 28 (December), 535-551.

Kroner, K., Sultan, J. (1991). Exchange Rate Volatility and Time Varying Hedge Ratios. Pacific-Basin Capital Markets Research, 2, 397-412.

Melvin, M., Sultan, J. (1990). The Choice of an Invoicing Currency in International Trade and the Balance of Trade Impact of Currency Depreciation. Open Economies Review, 1, 251-268.

Melvin, M., Sultan, J. (1990). South African Political Unrest, Oil Prices and The Time Varying Risk Premium in the Gold Futures Market. Journal of Futures Markets, 10 (2), 103-111.

Sultan, J. (1987). Prediction of Corporate Bankruptcy: A Comparison Between LOGIT and Multiple Discriminant Techniques. Review of Research in Banking and Finance, 3 (Fall), 29-38.

Book Chapters
Sultan, J. (2009). Carbon Emissions Trading. In Partha Ghosh (Eds.), Green Economy (ed. Partha Ghosh, Boston Pledge), Boston.. Boston, MA: . Boston Pledge

Gulley, O. D, Sultan, J. (2009). The Effects of Global Terrorism on Risk Premium: Evidence from Stock Markets. In Mathew Morgan (Eds.), . new York: . Palgrave Mcmillan

Sultan, J. (2006). Modeling Correlation Risk. In Michael Ong (Eds.), Risk Management: A Modern Perspective (pp. 273-291). Burlington, MA: . Academic Press

Conference Proceedings and Presentations

Sultan, J. (2012). "Hedging Carbon Risk." Presented at the Indian Institute of Management-Calcutta's 3rd India Finance Conference , Calcutta, India.

Sultan, J. (2012). "Performance of Values-driven and Profit-seeking Investment Strategies." Presented at the Financial Management Association's FMA, Atlanta, GA.

Sultan, J. (2012). "Hedging Carbon Risk." Presented at the Cambridge University's Forecasting Financial Markets, Marseilles, France.

Buono, A. F., Fletcher Brown, D., Frederick, R. E., Hall, G. J., Sultan, J. (2012). Acting Ethically: Moral Reasoning and Business School Student Behavior. Presented at the Society for Advancement of Management's Society for Advancement of Management International Conference, Las Vegas, NV.

Sultan, J. (2012). "Performance of Values-driven and Profit-seeking Investment Strategies." Presented at the Harvard Law School Islamic Legal Studies Program's 10th Harvard University Forum on Islamic Finance. , Harvard University, Cambridge, MA.

Milly, M., Sultan, J. (2009). "Portfolio Diversification during Financial Crisis: An Analysis of Islamic Asset Allocation Strategy." Presented at the Ninth Harvard University Forum on Islamic Finance, Building Bridges Across Financial Communities, Harvard University Law School, Cambridge, Massachusetts.

Gulley, O. D., Sultan, J. (2007). "Terrorism and Financial Markets." Presented at the FMA, Barcelona.

Sultan, J., Gulley, O. D. (2006). "Terrorism and Financial Markets."

Gulley, O. D., Sultan, J. (2005). "Economics, Politics, and the Federal Funds Market: Does the Fed Play Politics?"

Gulley, O. D., Sultan, J. (2005). "What Moves the Federal Funds Market?"

Abdolmohammadi, M. J., Sultan, J. (2001). "The Correlates of Ethical Behavior in Stock Trading." Presented at the Eighth International Conference Promoting Business Ethics, Chicago, Ill.

Service

Department Service
Committee Chair for Tenured Faculty Group, 2011 - Present
Committee Member for Dual Degree Program, 2009 - Present
Mentor (Faculty) for MSA, 2000 - Present
Mentor (Student) for MSF, 2000 - Present
Committee Chair for Faculty Recruiting, 2013 - 2013

University Service
Committee Member for Hughey Center Strategic Advisory Board, 2013 - Present

Public Service
External Advisor for Bangladesh Thalassemia Foundation