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Dr. Swagatika Nanda

Assistant Professor
Commerce & Management

Qualification

PhD, University of Hyderabad
2013

MPhil, University of Hyderabad
2007

MBA, Pondicherry Central University
2007

MA(Economics), University of Hyderabad
2005

BA(Economics), Rama Devi Women's Autonomus College
2003

Experience

08
Teaching Experience

23
Technical Papers Published

16
Research Experience

03
Industrial Experience

MY LIFE

I am Dr. Swagatika Nanda, and I hold a Ph.D. in Economics (2013) from the University of Hyderabad (Central University). Since 2017, I have been working as an Assistant Professor at Vidyalankar School of Information Technology (VSIT), where I teach Economics, International Finance, Business Mathematics, and Research Methodology at both undergraduate and postgraduate levels. 

My core areas of teaching and research lie in Economics and Finance. I am deeply passionate about research and well-versed in statistical tools such as E-Views, SPSS, STATA, and R, which allow me to carry out data-driven and methodologically sound research. Over the past few years, I have continued to grow as an educator, and I truly believe that teaching becomes more meaningful when it is enriched by the curious and energetic minds of students. 

My academic journey began in Odisha, where I was raised in a traditional setting that valued education deeply. Growing up, I admired public figures like Ms. Kiran Bedi and once aspired to join the civil services. However, my direction changed during my time at the University of Hyderabad, where the vibrant research atmosphere and opportunities to interact with eminent personalities, such as Dr. Y. V. Reddy, former Governor of the Reserve Bank of India, ignited my research interest. 

Before joining VSIT, I worked as a Research Analyst with several esteemed institutions, including the University of Hyderabad and the Indian School of Business (ISB), Hyderabad, as well as with startups like Solaron Tech (Bangalore) and Public Finance India (Hyderabad). These experiences helped me develop discipline, responsibility, and a commitment to quality—traits that continue to shape my academic and professional journey. 

Outside of academics, I enjoy spending time with children, watching movies, and listening to music—whether instrumental or vocal—as a way to unwind. Yoga has been a long-standing passion of mine and continues to be a part of my daily routine. I don’t strive for perfection but for strength—to face life’s challenges with courage. I firmly believe: 

“It is okay to encounter failure in life; what matters most is the courage to continue with confidence and a smile.” 

MY WORK

  1. TIES- The Indian Econometric Society(L/2822/18-19) April 2019.
  2. AIMS International (All India Management Scholars).
  1. Recipient of AIMS-Jaipuria Outstanding Young Woman Management Researcher Award for the year 2021.
 
  1. Participated in Training on Analytics in Finance Great Learning Academy September 2023.
  2. Participated in FDP on Data Analytics using Power BI Department of Information Technology, G Narayanamma Institute of Technology and Science (for women) 20th March 2023 to 24th March 2023
  3. Participated in FDP on Emerging Trends and Challenges in Commerce Nirmala Memorial Foundation College of Commerce and Science 02-05-2023 to 10-05-2023
  4. Participated in VCMT International Conference by VSIT on 04th December 2022
  5. Completed training on Statistics for Data Science Great Learning Academy May 2022
  6. Participated in VCMT International Conference by VSIT on December 2021.
  7. Participated in FDP on Bringing Learner centricity to Teaching Learning Process VSIT 22/01/2022
  8. Participated in FDP on Interdisciplinary Refresher Course on Research Methodology Ramanujan College 22 Dec 2021 to 5 Jan 2022.
  9. Participated in FDP on ATAL Online Faculty Development Programme (Research Methodology) NITIE , Mumbai 22 November to 26 November 2021.
  10. Completed training on New Trends & Modern Approaches in Commerce & Management” Short term Training Programme, VSIT 23rd Nov-28th Nov 2020
  11. Participated in workshop on Tableu VSIT February 2020.
  12. Participated in workshop on R in VSIT February 2020.
  13. Participated in FDP on Ramanujan Faculty Development Programme Ramanujan College June 2020
  14. Multi-disciplinary International Conference titled “Health Care Management: Today and Tomorrow” (V – CMT 2020) at VSIT on 7th & 8th Feb 2020
  15. Participated in workshop on R Studio NISM, TIES and Mumbai University 07 January 2019
  16. International Multi-Disciplinary Conference V-CMT 2019 Theme “Policy Initiatives of Government of India – Appraisal and Assessment” in association with Bank of Baroda at VSIT on 8th & 9th Feb 2019
  17. 5th National Multi-Disciplinary Conference V-CMT 2018 Theme ‘Vision India 2025’ at VSIT on 3rd Feb 2018.
  18. Participated in FDP on “Preparing a Teacher for Different Roles” VSIT 5th may 2018 to 11th May 2018
  19. 4th National Multi-Disciplinary conference V-CMT 2017 on the theme ‘India 2025 – A Vision for the Next Decade’ at VSIT on 3rd & 4th Feb, 2017
  20. Title: Non-linear relationship between Exchange rate Changes and long term investment; A sector level Analysis of Indian manufacturing firms.
    55th Annual conference of The Indian Econometric Society (TIES), Jointly organized by Mumbai school of Economics & Policy, University of Mumbai and National Institute of Security Markets, (NISM) Mumbai on 08th to 10th January 2019.
  21. Title: An Assessment of Competitive Market Structure in Indian Banking Industry; A Panel Study
    Two days National Seminar on Application of Panel data jointly organized by CESS and The Indian Econometric Society (TIES) at Hyderabad, 25-26 March 2014.
  22. Title: Exchange Rate Fluctuation and Investment Behavior: A firm- Level Evidence from Indian Manufacturing Firms
    51st Annual conference of The Indian Econometric Society (TIES), organized by Department of Economics and Centre for Research in Economic Change, Panjabi University, Patiala, Punjab during 12/12/2014 to 14/12 2014.
  23. Title: An Empirical Examination of the Relation Between Exports and Economic Growth in India
    XV National Conference of Input Output Research Association, India, Conducted by Department of Economics, University of Hyderabad, 17-19 March 2011.
  24. Title: Export-Led Growth Hypothesis: An Econometric Investigation for India.
    Second International Conference on Applied Economics and Time series Econometrics, 16-17 April 2010, conducted by IBS Hyderabad
  25. Title: Dynamic Interlinkages and Short Term Lead Lag Relationships between Monetary Policy Stimulus and Asset Price Movements in Indian Stock Market.
    The Conference is conducted by Center for Management Studies, Jain University, in collaboration with LATARBO University of Australia, Conference Scheduled on 10th October, 2009 at Bangalore.
  1. Project grant under the ICSSR Major Research Project on “Scope and Challenges of Women Participation in Small Scale Industries; a Study on rural and urban women entrepreneurs of Maharashtra “, has been approved by ICSSR (dated December, 2017) and has approved a grant-in-aid of Rs.6,00,000/- (Rupees Six lakhs only) plus overhead charges @7.5% over and above, with a duration of 24 months for the study including publication.
  1. Panda. A.K., Nanda S., Hegdey A., and Yadav. A. (2023), Receptivity of Capital Structure with Financial Flexibility: A study on manufacturing firms, International Journal of Finance and Economics (Q2), Vol 28, issue-2, pp: 1981 – 1993https://doi:10.1002/ijfe.2521
  2. Panda. A.K, Nanda S, Apoorva H. and Paital, R (2023), Revisiting the drivers of firm value; an empirical investigation on manufacturing firms, Business Perspectives and Research(Q3), Online 2023
  3. Panda. A.K, Nanda S, Apoorva H. (2022), “Testing of coherence between monetary policy stimulus, financial flexibility and profitability of manufacturing firms”, (Accepted) International Journal of Managerial Finance (Q2), Issue publication date: 24 October 2023
  4. Panda A K., Nanda S. and Sahoo S.(2022), “Transmission of Monetary Policy Impulses to a Firm’s Profitability: An Empirical Analysis of Manufacturing Firms”, Global Economic Review (Q2), Vol.51, Issue: 3, PP: 265-285
  5. Panda A K., Panda P., Nanda S., Atul Parad (2021), Information bias and its spillover effect on return volatility: A study on stock markets in the Asia-Pacific region, Pacific-Basin Finance Journal (Q1), Vol. 69, 101653, https://doi.org/10.1016/j.pacfin.2021.101653
  6. Panda. A.K. and Nanda S. (2020), Receptiveness of effective tax rate to firm characteristics; An empirical analysis on Indian listed firms, (Accepted), Journal of Asia Business Studies-(Emerald), SCOPUS, ABDC-C
  7. Panda. A.K, Nanda S and Panda, P (2020), Working Capital Management, Macroeconomic Impacts, and Firm Profitability; Evidence from Indian SMEs, (Accepted), Business Perspectives and Research, Vol. 9, Issue 1. (Sage) SCOPUS, ABDC-C
  8. Panda. A.K, Nanda S. (2020), “Determinants of capital structure; a sector-level analysis for Indian manufacturing firms” International Journal of Productivity and Performance Management, Volume 69, Issue 5 (Emerald), SCOPUS, ABDC- B
  9. Nanda S. and Panda. A.K. (2019), A Quantile Regression Approach to Trail Financial Performance of Manufacturing Firms (Accepted) in Journal of Applied Accounting Research, Vol. 20 Issue 3. (Emerald), SCOPUS, ABDC-C
  10. Panda. A.K, Nanda S., and Paital R. R., (2019), An Empirical analysis of Stock Market Interdependence and volatility spillover in the Stock markets of Africa and Middle East Region, African Journal of Economic and Management, Vol. 10 Issue 3. (Emerald), SCOPUS, ABDC-C
  11. Panda. A.K, Nanda S., Singh V.K and Satish K. (2019), Evidence of leverage effects and volatility spillover among exchange rates of selected emerging and growth leading economies, (Accepted), Journal of Financial Economic Policy, (Emerald) SCOPUS, ABDC-B
  12. Panda. A.K. and Nanda S. (2019), The Nexus between Exchange Rate and Long Term Investment in Indian Manufacturing Industry, Management Research Review, Vol. 42 Issue: 2, pp.174-198, https://doi.org/10.1108/MRR-01-2018-0024 (Emerald), SCOPUS, ABDC-C.
  13. Panda. A.K. and Nanda S. (2018), Time-Varying Synchronization and Dynamic Conditional Correlation among the Stock Market Returns of Leading South American Economies” International Journal of Managerial Finance, Vol. 14 Issue: 2, pp.245- 262, (Emerald) https://doi.org/10.1108/ IJMF-11-2016-0206, SCOPUS, ABDC-B.
  14. Panda. A.K. and Nanda S. (2018), Working Capital Financing and Corporate, Profitability of Indian Manufacturing Firms, Management Decision, Vol. 56 Issue: 2, pp: 441-457 (Emerald) https:// doi.org/10.1108/MD-07-2017-0698, SCOPUS, ABDC- B.
  15. Panda. A.K., Nanda S. (2018), A GARCH Modelling of Volatility and M-GARCH Approach of Stock Market Linkages of North America; Global Business Review, Vol- 19, Issue-2 (Sage), SCOPUS, ABDC-C.
  16. Nanda S. and Panda. A.K. (2018), The Determinants of Corporate Profitability; An Investigation of Indian Manufacturing Firms, International Journal of Emerging Markets, Vol-13, Issue-1, pp.66-86, https://doi.org/10.1108/IJoEM-01-2017- 0013,(Emerald), SCOPUS, ABDC-C. 3
  17. Panda. A.K., Nanda S. (2018), “Market linkages and Conditional Correlation between the Stock Markets of South & Central America”, Journal of Financial Economic Policy, 9 (2), 2017, (Emerald).
  18. Panda. A.K., Nanda S. (2018), “Short-term and long-term Interconnectedness of stock returns in Western Europe and the global market”, Financial Innovation, 3(1), 1-24. 2017 (Springer)
  19. Panda. A.K., Nanda S. (2018), “A Mathematical Explanation of Panzar- Rosse Model and its Implication in Indian Banking Industry”, Indian Journal of Economics and Business, Vol. 15, No. 1, (2016) PP: 75-98, (Serials)
  20. Panda. A.K., Nanda S. (2018), “An empirical analysis of market structure and the pattern of time varying return volatility on the stock markets of Western Europe”, Asian-African Journal of Economics and Econometrics, Vol 13, No-1 2013:51-67
  21. Nanda S. and Panda. A.K (2011), “An Empirical Assessment of Export-Led Growth Hypothesis in the context of Indian Economy”, Indian Journal of Economics and Business, Vol. 10, No.4, December, 2011.
  22. Bhue, R., Gartia, U., Panda. A. Nanda, S., (2025), “Sustainable Equity Index Dynamic: Connectedness and Information Asymmetry in Emerging Markets”, Business Strategy and Development, 8 (1),  DOI: 10.1002/bsd2.70072   SCOP
  23. Gartia, U., Panda. A., Hegde, A., Nanda, S., (2024), “Environmental Social Governance and Financial Performance: A Symbiotic Relationship in Indian Manufacturing”, Cleaner Production Letters, 7 (1): 100076,DOI: 10.1016/j.clpl.2024.100076  SCOPUS 
  1. Panda. A.K., Nanda S., Hegdey A., and Yadav. A. (2023), Receptivity of Capital Structure with Financial Flexibility: A study on manufacturing firms, International Journal of Finance and Economics (Q2), Vol 28, issue-2, pp: 1981 – 1993https://doi:10.1002/ijfe.2521
  2. Panda. A.K, Nanda S, Apoorva H. and Paital, R (2023), Revisiting the drivers of firm value; an empirical investigation on manufacturing firms, Business Perspectives and Research(Q3), Online 2023
  3. Panda. A.K, Nanda S, Apoorva H. (2022), “Testing of coherence between monetary policy stimulus, financial flexibility and profitability of manufacturing firms”, (Accepted) International Journal of Managerial Finance (Q2), Issue publication date: 24 October 2023
  4. Panda A K., Nanda S. and Sahoo S.(2022), “Transmission of Monetary Policy Impulses to a Firm’s Profitability: An Empirical Analysis of Manufacturing Firms”, Global Economic Review (Q2), Vol.51, Issue: 3, PP: 265-285
  5. Panda A K., Panda P., Nanda S., Atul Parad (2021), Information bias and its spillover effect on return volatility: A study on stock markets in the Asia-Pacific region, Pacific-Basin Finance Journal (Q1), Vol. 69, 101653, https://doi.org/10.1016/j.pacfin.2021.101653
  6. Panda. A.K. and Nanda S. (2020), Receptiveness of effective tax rate to firm characteristics; An empirical analysis on Indian listed firms, (Accepted), Journal of Asia Business Studies-(Emerald), SCOPUS, ABDC-C
  7. Panda. A.K, Nanda S and Panda, P (2020), Working Capital Management, Macroeconomic Impacts, and Firm Profitability; Evidence from Indian SMEs, (Accepted), Business Perspectives and Research, Vol. 9, Issue 1. (Sage) SCOPUS, ABDC-C
  8. Panda. A.K, Nanda S. (2020), “Determinants of capital structure; a sector-level analysis for Indian manufacturing firms” International Journal of Productivity and Performance Management, Volume 69, Issue 5 (Emerald), SCOPUS, ABDC- B
  9. Nanda S. and Panda. A.K. (2019), A Quantile Regression Approach to Trail Financial Performance of Manufacturing Firms (Accepted) in Journal of Applied Accounting Research, Vol. 20 Issue 3. (Emerald), SCOPUS, ABDC-C
  10. Panda. A.K, Nanda S., and Paital R. R., (2019), An Empirical analysis of Stock Market Interdependence and volatility spillover in the Stock markets of Africa and Middle East Region, African Journal of Economic and Management, Vol. 10 Issue 3. (Emerald), SCOPUS, ABDC-C
  11. Panda. A.K, Nanda S., Singh V.K and Satish K. (2019), Evidence of leverage effects and volatility spillover among exchange rates of selected emerging and growth leading economies, (Accepted), Journal of Financial Economic Policy, (Emerald) SCOPUS, ABDC-B
  12. Panda. A.K. and Nanda S. (2019), The Nexus between Exchange Rate and Long Term Investment in Indian Manufacturing Industry, Management Research Review, Vol. 42 Issue: 2, pp.174-198, https://doi.org/10.1108/MRR-01-2018-0024 (Emerald), SCOPUS, ABDC-C.
  13. Panda. A.K. and Nanda S. (2018), Time-Varying Synchronization and Dynamic Conditional Correlation among the Stock Market Returns of Leading South American Economies” International Journal of Managerial Finance, Vol. 14 Issue: 2, pp.245- 262, (Emerald) https://doi.org/10.1108/ IJMF-11-2016-0206, SCOPUS, ABDC-B.
  14. Panda. A.K. and Nanda S. (2018), Working Capital Financing and Corporate, Profitability of Indian Manufacturing Firms, Management Decision, Vol. 56 Issue: 2, pp: 441-457 (Emerald) https:// doi.org/10.1108/MD-07-2017-0698, SCOPUS, ABDC- B.
  15. Panda. A.K., Nanda S. (2018), A GARCH Modelling of Volatility and M-GARCH Approach of Stock Market Linkages of North America; Global Business Review, Vol- 19, Issue-2 (Sage), SCOPUS, ABDC-C.
  16. Nanda S. and Panda. A.K. (2018), The Determinants of Corporate Profitability; An Investigation of Indian Manufacturing Firms, International Journal of Emerging Markets, Vol-13, Issue-1, pp.66-86, https://doi.org/10.1108/IJoEM-01-2017- 0013,(Emerald), SCOPUS, ABDC-C. 3
  17. Panda. A.K., Nanda S. (2018), “Market linkages and Conditional Correlation between the Stock Markets of South & Central America”, Journal of Financial Economic Policy, 9 (2), 2017, (Emerald).
  18. Panda. A.K., Nanda S. (2018), “Short-term and long-term Interconnectedness of stock returns in Western Europe and the global market”, Financial Innovation, 3(1), 1-24. 2017 (Springer)
  19. Panda. A.K., Nanda S. (2018), “A Mathematical Explanation of Panzar- Rosse Model and its Implication in Indian Banking Industry”, Indian Journal of Economics and Business, Vol. 15, No. 1, (2016) PP: 75-98, (Serials)
  20. Panda. A.K., Nanda S. (2018), “An empirical analysis of market structure and the pattern of time varying return volatility on the stock markets of Western Europe”, Asian-African Journal of Economics and Econometrics, Vol 13, No-1 2013:51-67
  21. Nanda S. and Panda. A.K (2011), “An Empirical Assessment of Export-Led Growth Hypothesis in the context of Indian Economy”, Indian Journal of Economics and Business, Vol. 10, No.4, December, 2011.
  22. Bhue, R., Gartia, U., Panda. A. Nanda, S., (2025), “Sustainable Equity Index Dynamic: Connectedness and Information Asymmetry in Emerging Markets”, Business Strategy and Development, 8 (1),  DOI: 10.1002/bsd2.70072   SCOP
  23. Gartia, U., Panda. A., Hegde, A., Nanda, S., (2024), “Environmental Social Governance and Financial Performance: A Symbiotic Relationship in Indian Manufacturing”, Cleaner Production Letters, 7 (1): 100076,DOI: 10.1016/j.clpl.2024.100076  SCOPUS 
  1. Participated in 6 days ATAL – Faculty Development Program (FDP) sponsored by AICTE on “Mastering Financial Modelling” – Empowering Educators organized by Vidyalankar School of Information Technology

Being born in a family where both of my parents were doctors, I was expected to take up medicine as my career. So just like every middle class family my career was decided even before I could learn to speak. During my school and college days I was an above average student but when it came to giving my entrance test for medical somehow I could not manage to get admission in Mumbai and again due to family restrictions I could not go to Yavatmal where I managed secure an M.B.B.S seat. But life does not stop right? So I was expected to prepare for medical entrance one more time. I wished to go for Engineering and brought my admission form as well but was persuaded against it. So to not waste my year I was made to take admission to B.Sc. in the same college where I completed my HSc and that was a turning point for me.

During graduation I was lucky enough to be taught by teachers who inspired me not just to understand what I like but also to take a stand for what I like. So I decided to complete my education in Electronics even after getting B.D.S. seat in a college in Navi Mumbai after my second attempt of the medical entrance. This time I was persistent and confident enough to do what I like and was ready to take all the responsibility of that. So I continued my education while working part time as tutor, because if the choice is yours, so is its responsibility.

During my graduation I realized that, it is more important to know various opportunities around us than to be stuck with a single choice. Unlike our parents’ time, these days we have large number of opportunities, but we lack is proper guidance to explore them. Also one needs to make his own decisions and not just that should be able to work hard to achieve their goal. This thought inspired me to become a teacher and I did my Masters in Electronics and completed B.Ed. I wished to be the torch that today’s kids need in the world full of opportunities. I wanted to tell them that career does not end only because you missed one opportunity, but this also does not mean that we stop taking our career seriously. We can be more alert and grab the next opportunity that comes in our way and again make a comeback in the race of life. So what are we waiting for? ON YOUR MARK. GET-SET-AND GO….

Professional Memberships →
1. IEEE Annual Membership October 2018 to October 2019
Professional Memberships →
2. IEEE Annual Membership October 2018 to October 2019
Professional Memberships →
3. IEEE Annual Membership October 2018 to October 2019
Professional Memberships →
4. IEEE Annual Membership October 2018 to October 2019
Professional Memberships →
5. IEEE Annual Membership October 2018 to October 2019
Professional Memberships →
6. IEEE Annual Membership October 2018 to October 2019
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