Otgo Erhemjamts

  • Professor, Finance
  • Associate Editor, Global Finance Journal
  • Ph.D. Georgia State University
  • M.S. University of Idaho
  • M.S. Mongolian University of Science and Technology
  • B.S. Mongolian University of Science and Technology

Teaching Interests

Equity Research; Sustainable, Responsible, and Impact (SRI) Investing

Research Interests

Corporate Social Responsibility; Sustainable, Responsible, and Impact (SRI) Investing; Corporate Finance; Banking

Consulting/Practice Interests

Equity Research; Sustainable, Responsible, and Impact (SRI) Investing

Bio

Otgo Erhemjamts is a Professor of Finance at Bentley University. She received her PhD in Finance from Georgia State University. Her research interests are in corporate social responsibility, sustainable investing, corporate finance, and corporate governance. Her work has appeared in reputable academic journals including the Journal of Business Ethics; Journal of Banking and Finance; Journal of Money, Credit, and Banking; Journal of Financial Research; The Financial Review; and Journal of Risk & Insurance. She is a co-author on two finance textbooks published by McGraw-Hill: Financial Institutions Management: A Risk Management Approach (10th edition) and Financial Markets and Institutions: A Modern Perspective (8th edition). She teaches graduate and undergraduate courses in investments, equity research, and sustainable investing. Her prior teaching experience includes teaching corporate finance, risk management, and financial institutions courses at Georgia State University, Atlanta, GA.

Professional Links

Professional Memberships

  • American Finance Association
  • Eastern Finance Association
  • Financial Management Association
  • Awards and Honors

  • 2019, Co-PI, NSF IUSE Grant ($1.4 million), National Science Foundation
  • 2017, Outstanding Reviewer, Journal of Banking and Finance
  • 2017, Outstanding Reviewer, Journal of Business Research
  • 2017, Semifinalist for the Best Paper in Investments Award, Financial Management Association
  • 2017, Faculty Affairs Committee (FAC) Grant, Bentley University
  • 2017, Faculty Affairs Committee (FAC) Grant, Bentley University
  • 2016, Innovation in Teaching Award, TSAC, Bentley University
  • 2016, Dean's Fund for International Travel Award, Bentley University
  • 2015, Dean's Fund for International Travel Award, Bentley University
  • 2015, Outstanding Reviewer, Journal of Banking and Finance
  • 2014, Dean's Fund for International Travel Award, Bentley University
  • 2012, Dean's Fund for International Travel Award
  • 2012, Semifinalist for the Best Paper in Corporate Finance Award, Financial Management Association
  • 2011, Dean's Fund for International Travel Award
  • 2011, Faculty Affairs Committee (FAC) Grant, Bentley University
  • 2011, Outstanding Scholarly Contribution Award, TSAC, Bentley University
  • 2010, Dean's Fund for International Travel Award
  • 2010, Publication Award, TSAC, Bentley University
  • 2009, Dean's Fund for International Travel Award
  • 2008, Dean's Fund for International Travel Award
  • Publications

    Journal Articles


  • Erhemjamts, O., Huang, K. (2019). Institutional Ownership Horizon, Corporate Social Responsibility and Shareholder Value. Journal of Business Research, (105) 61-79.
  • Cornett, M., Erhemjamts, O. (2019). Competitive Environment and Innovation Intensity. Global Finance Journal, (Volume 41) 44-59.
  • Cornett, M., Erhemjamts, O., Bayar, T., Tehranian, H. (2018). Does the Type of Strategic Interaction in an Industry affect the Relation between the Strategic Interaction and Firm Performance?. Journal of Banking and Finance.
  • Erhemjamts, O., Cornett, M., Tehranian, H. (2016). Greed or Good Deeds: Corporate Social Responsibility and its Impact on U.S. Commercial Banks Financial Performance around the Financial Crisis. Journal of Banking and Finance. 70 137-159. (Link)
  • George, I., Erhemjamts, O. (2016). Doing Well and Doing Good: Performance of ESG Integration Approach. Fusio. 1 7-35.
  • Cornett, M., Musumeci, J., Erhemjamts, O. (2016). Were U.S. Banks Exposed to the Greek Debt Crisis? Evidence from Greek CDS Spreads. Financial Markets, Institutions, and Instruments.
  • Erhemjamts, O., Li, Q., Venkateswaran, A. (2013). Corporate Social Responsibility and Its Impact on Firms’ Investment Policy, Organizational Strategy, and Performance. Journal of Business Ethics, (118) 2 395-412. (Link)
  • Erhemjamts, O., Raman, K. (2012). The Role of Investment Bank Reputation and Relationships in Equity Private Placements. Journal of Financial Research, (35) 2 183-210. (Link)
  • Erhemjamts, O., Phillips, R. D. (2012). Form over Matter: Differences in the Incentives to Convert Using Full versus Partial Demutualization in the U.S. Life Insurance Industry. Journal of Risk and Insurance, (79) 2 305-334. (Link)
  • Erhemjamts, O., Raman, K., Shahrur, H. (2010). Industry structure and corporate debt maturity. The Financial Review, (45) 3 627-657. (Link)
  • Erhemjamts, O., Leverty, J. T. (2010). Demise of the Mutual Organizational Form: An Investigation of the Life Insurance Industry. Journal of Money, Credit, and Banking, (42) 6 1011-1036. (Link)

    Books


  • Cornett, M., Saunders, A., Erhemjamts, O. (2020). Financial Markets and Institutions, 8th edition. 8thBurr Ridge, Illinois: McGraw-Hill Higher Education Forthcoming.
  • Cornett, M., Saunders, A., Erhemjamts, O. (2019). Financial Institutions Management: A Risk Approach, 10th edition. 10thBurr Ridge, Il: McGraw-Hill Higher Education

  • Book Chapters


  • Erhemjamts, O., Raman, K. (2011). Financial Restructuring In , (Eds.) The Art of Capital Restructuring: Creating Shareholder Value Through Mergers and Acquisitions. John Wiley & Sons, Inc.

  • Presentations

  • Erhemjamts, O. (2019). “Institutional Ownership Horizon, Corporate Social Responsibility and Shareholder Value” Presented at theEastern Finance Association Annual Meetings Miami, FL
  • Erhemjamts, O., Maher, S. (2017). “Early Life Imprinting of CEOs and Corporate Social Responsibility” Presented at the Bentley University Behavioral Finance Symposium
  • Huang, K., Erhemjamts, O. (2017). “Reexamination of the Relationship Between Institutional Ownership Horizon and Corporate Social Responsibility” Presented at theFinancial Management Association Annual Meeting Boston, MA
  • Huang, K., Erhemjamts, O. (2016). “The Effect of Institutional Ownership Horizon on Corporate Social Responsibility” Presented at theIESE International Symposium on Ethics, Business, and Society Barcelona, Spain
  • Erhemjamts, O., Cornett, M., Tehranian, H. (2016). “Strategic R&D and Advertising Spending and Product Market Competition” Presented at theFinancial Management Association Las Vegas, NV
  • Cornett, M., Erhemjamts, O. (2015). “A Multidimensional Examination of the Relation between Product Market Competition and the Efficient Use of Firm Resources” Presented at the Financial Management Association International Financial Management Association International Annual Meetings 2015 Orlando, Florida
  • Bayar, T., Cornett, M., Erhemjamts, O. (2015). “A Multidimensional Examination of the Relation between Product Market Competition and the Efficient Use of Firm Resources” Presented at the European Financial Management Association European Financial Management Association Annual Meetings Amsterdam, Netherlands
  • Erhemjamts, O. (2014). “Corporate Social Responsibility and its Impact on Financial Performance: Investigation of the U.S. Commercial Banks” Presented at theFinancial Management Association Annual Meetings Nashville, TN
  • Erhemjamts, O. (2014). “Corporate Social Responsibility and its Impact on Financial Performance: Investigation of the U.S. Commercial Banks” Presented at theEuropean Financial Management Association Annual Meetings Rome, Italy
  • Erhemjamts, O. (2013). “Corporate Social Responsibility and its Impact on Financial Performance: Investigation of the U.S. Commercial Banks” Presented at the Bentley University Fall Research Colloquium Waltham, MA
  • Erhemjamts, O., Leverty, T. (2012). “Firm Efficiency and Industry Structure” Presented at theFinancial Management Association Atlanta, GA
  • Erhemjamts, O., Li, Q., Venkateswaran, A. (2012). “Corporate Social Responsibility and Its Impact on Firms’ Investment Policy, Organizational Structure, and Performance” Presented at theFMA European Conference Istanbul, Turkey
  • Erhemjamts, O., Li, Q., Venkateswaran, A. (2011). “Corporate Social Responsibility, Firm Policies, and Performance” Presented at theFinancial Management Association Denver, CO
  • Erhemjamts, O., Leverty, T. (2011). “Firm Efficiency and Industry Structure” Presented at theFinancial Management Association Denver, CO
  • Erhemjamts, O. (2011). “Corporate Social Responsibility, Firm Policies, and Performance” Presented at theEuropean Financial Management Association Braga, Portugal
  • Erhemjamts, O., Li, Q., Venkateswaran, A. (2011). “Corporate Social Responsibility, Firm Policies, and Performance” Presented at theEuropean Financial Management Association Braga, Portugal
  • Erhemjamts, O. (2011). “Corporate Social Responsibility, Firm Policies, and Performance” Presented at theMultinational Finance Society Rome, Italy
  • Erhemjamts, O., Li, Q., Venkateswaran, A. (2011). “Corporate Social Responsibility, Firm Policies, and Performance” Presented at theMultinational Finance Society Rome, Italy
  • Bayar, T., Gupta, A., Erhemjamts, O. (2010). “CFO Compensation” Presented at theEastern Finance Annual Meeting Miami Beach, FL
  • Erhemjamts, O. (2010). “CFO Compensation” Presented at theMultinational Finance Society Barcelona, Spain
  • Bayar, T., Gupta, A., Erhemjamts, O. (2010). “CFO Compensation” Presented at theMultinational Finance Association Conference Barcelona, Spain
  • Erhemjamts, O. (2010). “Bridging the Gender Gap: Explaining the Unexplainable”
  • Wiggins, R. A., Erhemjamts, O., Minnick, K. L. (2010). “Bridging the Gender Gap: Explaining the Unexplainable” Presented at the Financial Management Association 2010 European FMA Annual Conference Hamburg, Germany
  • Erhemjamts, O. (2010). Presented at theFinancial Management Association New York, NY
  • Wiggins, R. A., Erhemjamts, O., Minnick, K. L. (2010). “Bridging the Gender Gap: Explaining the Unexplainable” Presented at the Financial Management Association 2010 FMA Annual Conference New York, New York
  • Erhemjamts, O. (2009). Presented at theEuropean Financial Management Association
  • Erhemjamts, O., Gupta, A., Bayar, T. (2009). “The Effect of Sarbanes-Oxley Act on CFO Compensation and Rank” Presented at theFinancial Management Association Reno, NV
  • Erhemjamts, O., Gupta, A., Bayar, T. (2009). “The Effect of Sarbanes-Oxley Act on CFO Compensation and Rank” Presented at theEuropean Financial Management Association Milan, Italy
  • Erhemjamts, O., Minnick, K. L. (2009). “What Does It Take to Close the Gender Gap in Executive Compensation?” Presented at theEuropean Financial Management Association Milan, Italy
  • Erhemjamts, O., Minnick, K. L. (2009). “What Does It Take to Close the Gender Gap in Executive Compensation?” Presented at the Bentley University Faculty Research Roundtable: Gender Issues Across Disciplines Waltham, MA
  • Erhemjamts, O., Raman, K., Shahrur, H. (2008). “Industry Structure and Debt Maturity” Presented at theEuropean Financial Management Association Athens, Greece
  • Erhemjamts, O., Minnick, K. L. (2008). “What Does It Take to Close the Gender Gap in Executive Compensation?” Presented at theFinancial Management Association Grapevine, Dallas
  • Erhemjamts, O., Raman, K., Shahrur, H. (2008). “Industry Structure and Debt Maturity” Presented at theFinancial Management Association Grapevine, Dallas
  • Erhemjamts, O. (2008). Presented at theFinancial Management Association Grapevine, TX
  • Erhemjamts, O. (2008). Presented at theEuropean Financial Management Association Athens, Greece
  • Erhemjamts, O., Leverty, J. T. (2007). “The Demise of the Mutual Organizational Form: An Investigation of the Life Insurance Industry” Presented at theFinancial Management Association Annual Meetings Orlando, FL
  • Erhemjamts, O., Leverty, J. T. (2006). “Efficiency Changes around US Life Insurer Demutualizations” Presented at theAmerican Risk and Insurance Association Annual Meetings Washington, DC
  • Erhemjamts, O., Kale, J. (2005). “Are Diversifying Mergers and Acquisitions Operational Hedges” Presented at theFinancial Management Association Annual Meetings Chicago, IL
  • Erhemjamts, O., Phillips, R. (2005). “What Drives U.S. Life Insurer Demutualizations?” Presented at theFinancial Management Association Annual Meetings Chicago, IL
  • Erhemjamts, O., Phillips, R. (2004). “Issues Related with Ownership Structure Changes in US Life Insurance Industry” Presented at theFinancial Management Association Annual Meetings New Orleans, LA
  • Erhemjamts, O., Phillips, R. (2003). “Incentive Effects of U.S. Life Insurer Demutualizations” Presented at theFinancial Management Association Annual Meetings Denver, CO
  • Erhemjamts, O., Phillips, R. (2002). “Coordinated Risk Management: Evidence from Life Insurer Demutualizations” Presented at theSouthern Risk and Insurance Association Annual Meeting New Orleans, LA
  • Service

    Department Service


  • Mentor (Faculty) for Bentley Sustainable Investing Group 2018 - Present
  • Secondary Evaluator for Tenure-Track Faculty - 2017
  • Course Coordinator for FI 306 Coordinator 2017 - 2017
  • Course Coordinator for FI 306 Coordinator 2016 - 2016
  • Secondary Evaluator for Tenure-Track Faculty - 2016
  • Committee Member for Curriculum Subcommittee on FI 305 Revision 2015 - 2015
  • Course Coordinator for FI 306 (Formerly 320) Coordinator 2015 - 2015
  • Primary Evaluator for Tenure-Track Faculty - 2015
  • Secondary Evaluator for Tenure-Track Faculty - 2015
  • Course Coordinator for FI 320 Coordinator 2014 - 2014
  • Committee Member for Campus-wide survey on online testing and homework use 2014 - 2014
  • Committee Member for Curriculum Committee 2013 - 2013
  • Course Coordinator for FI 320 Coordinator 2013 - 2013
  • Secondary Evaluator for Tenure-Track Faculty - 2013
  • Mentor (Faculty) for Boston Investment Research Challenge 2012 - 2012
  • Committee Chair for Recruiting Committee 2012 - 2012
  • Other for Secondary Evaluator for Tenure-Track Faculty - 2012
  • Mentor (Faculty) for Boston Investment Research Challenge 2011 - 2012
  • Mentor (Faculty) for Boston Investment Research Challenge 2010 - 2010
  • Committee Member for Curriculum Committee 2010 - 2010
  • Committee Member for Recruiting committee 2010 - 2010
  • Mentor (Faculty) for New England Investment Research Challenge 2009 - 2010
  • Committee Member for Recruiting Committee 2008 - 2008
  • Mentor (Faculty) for Bentley Investment Group 2007 - 2008
  • Task Force Member for Course revision - FI320 2007 - 2007
  • Committee Member for Recruiting Committee 2007 - 2007
  • Mentor (Faculty) for Traveler's Finance Case Competition 2007 - 2007
  • Task Force Member for Course revision - FI310 2006 - 2006
  • University Service


  • Task Force Member for President's Task Force on Carbon Footprint Reductions 2017 - 2017
  • Associate Editor for Fusio, Bentley Undergraduate Research Journal 2017 - 2017
  • Committee Chair for Promotion and Tenure Committee 2017 - 2017
  • Mentor (Faculty) for Wall Street 101 - 2017
  • Task Force Chair for "Signature Work" Task Force 2017 - 2017
  • Associate Editor for Fusio, Bentley Undergraduate Research Journal 2016 - 2016
  • Committee Member for Promotion and Tenure Committee 2016 - 2016
  • Task Force Member for "Signature Work" Task Force 2016 - 2016
  • Mentor (Faculty) for Wall Street 101 - 2016
  • Faculty Marshal for Undergraduate and Graduate Commencements 2016 - 2016
  • Committee Member for B/T Adademic Affairs Committee 2015 - 2015
  • Committee Member for Centennial Faculty Subcommittee 2015 - 2015
  • Mentor (Faculty) for Wall Street 101 - 2015
  • Faculty Marshal for Undergraduate and Graduate Commencements 2015 - 2015
  • Mentor (Faculty) for Wall Street 101 - 2014
  • Mentor (Faculty) for Wall Street 101 - 2013
  • Reviewer/Judge for Honors Program, Capstone of the Year - 2013
  • Committee Member for Academic Standards Committee 2011 - 2012
  • Committee Member for B/T Student Affairs Committee 2009 - 2010
  • Committee Member for B/T Information Services Committee 2008 - 2010
  • Professional Service


  • Reviewer, Journal Article for Journal of Business Ethics 2017 - 2017
  • Reviewer, Conference Paper for Eastern Finance Association - 2017
  • Reviewer, Conference Paper for Financial Management Association - 2017
  • Reviewer, Journal Article for Journal of Business Research 2017 - 2017
  • Conference/Workshop Session Chair for Financial Management Association - 2017
  • Reviewer, Journal Article for Global Finance Journal 2017 - 2017
  • Reviewer, Journal Article for Journal of Banking and Finance 2017 - 2017
  • Reviewer, Journal Article for Journal of Business Ethics 2017 - 2017
  • Reviewer, Journal Article for Financial Review 2017 - 2017
  • Reviewer, Journal Article for European Management Review 2017 - 2017
  • Reviewer, Journal Article for Journal of Banking and Finance 2017 - 2017
  • Reviewer, Conference Paper for Financial Management Association - 2016
  • Reviewer, Journal Article for Journal of Banking and Finance 2016 - 2016
  • Conference/Workshop Session Chair for Financial Management Association - 2016
  • Reviewer, Journal Article for Journal of Banking and Finance 2016 - 2016
  • Reviewer, Journal Article for Journal of Business Research 2016 - 2016
  • Reviewer, Journal Article for Journal of Business Ethics 2016 - 2016
  • Reviewer, Journal Article for Journal of Banking and Finance 2016 - 2016
  • Reviewer, Journal Article for Journal of Business Ethics 2016 - 2016
  • Reviewer, Conference Paper for Financial Management Association - 2015
  • Conference/Workshop Session Chair for Financial Management Association - 2015
  • Reviewer, Journal Article for Journal of Business Ethics 2015 - 2015
  • Reviewer, Journal Article for Journal of Banking and Finance 2015 - 2015
  • Reviewer, Journal Article for Journal of Banking and Finance 2015 - 2015
  • Reviewer, Journal Article for Journal of Banking and Finance 2015 - 2015
  • Reviewer, Journal Article for Journal of Business Ethics 2015 - 2015
  • Reviewer, Journal Article for Journal of Business Ethics 2015 - 2015
  • Reviewer, Journal Article for Journal of Banking and Finance 2014 - 2014
  • Reviewer, Conference Paper for Financial Management Association - 2014
  • Conference/Workshop Session Chair for Financial Management Association - 2014
  • Reviewer, Journal Article for Journal of Business Ethics 2014 - 2014
  • Reviewer, Conference Paper for Financial Management Association - 2013
  • Reviewer, Journal Article for Journal of Banking and Finance 2013 - 2013
  • Reviewer, Journal Article for Journal of Business Ethics 2013 - 2013
  • Reviewer, Conference Paper for Financial Management Association 2012 - 2012
  • Reviewer, Journal Article for Journal of Business Ethics 2012 - 2012
  • Reviewer, Journal Article for Journal of Business Ethics 2012 - 2012
  • Reviewer, Conference Paper for Financial Management Association 2011 - 2011
  • Reviewer, Journal Article for Financial Review 2011 - 2011
  • Reviewer, Journal Article for Journal of Financial Research 2011 - 2011
  • Reviewer, Journal Article for Financial Review 2011 - 2011
  • Conference/Workshop Session Chair for Eastern Finance Association 2010 - 2010
  • Conference/Workshop Session Chair for Financial Management Association 2010 - 2010
  • Reviewer, Conference Paper for Financial Management Association 2010 - 2010
  • Conference/Workshop Session Chair for Financial Management Association 2009 - 2009
  • Reviewer, Conference Paper for Financial Management Association 2009 - 2009
  • Reviewer, Conference Paper for Financial Management Association 2008 - 2008
  • Reviewer, Conference Paper for Financial Management Association 2007 - 2007