Vipul K. Bansal, Ph.D.

PhD, Finance, University of MississippiMBA, Finance, University of DelhiBA, Economics, Jiwaji University
Vipul K. Bansal is Professor in the Economics and Finance department. He earned a Ph.D. from the University of Mississippi and is a Chartered Financial Analyst (CFA), and Financial Risk Manager (FRM) certifications holder. Dr. Bansal is co-author of “Financial Engineering: The Complete Guide to Financial Innovation”. It is translated in Chinese and Russian languages. He is also co-author of “Measuring Market Risk with Value at Risk”. It is translated in Chinese language. He has published extensively in professional and academic journals including the Financial Review, Journal of Applied Corporate Finance, Advances in Futures and Options Research, Journal of International Finance, Financial Analysts Journal, AAII Journal, The Journal of Derivatives, Global Finance Journal, Review of Business, and Advances in Working Capital Management. He has written many abstracts for the CFA Digest. He served as Associate Director and Treasurer of the "International Association of Financial Engineers" from 1992 to 1998. In the past he was nominated by the St. John’s Student Government as “Best Teacher of the Year”. In the past, he was also honored by the Business Research Institute of St. John's University for the "Outstanding Research Contribution of the Year”.

Teaching Interests

Corporate Finance, Investment Management, Derivatives and Financial Engineering.

Research Interests

Equity Analysis, Financial Engineering, Risk Management and Personal Finance.

Courses Taught


Select Publications

Journal Articles

Bansal, V. K., and Russon, M. (2016). An Improved Methodology to Assess Value-Revance of Earnings and Book Values on Corporate Equity Securities. North American Business Press: Journal of Accounting and Finance. vol. 16, pp. 117-128.

Bansal, V. K., and Marshall, J. F. (2015). Tracking Error Decomposition and Return Attribution for Leveraged Exchange Traded Funds. Elsevier: Global Finance Journal. vol. 28, pp. 84-94.

Bansal, V. K., and Marshall, J. F. (2015). A Tracking Error Approach to Leveraged ETFs: Are They Really That Bad?. Global Finance Journal, Elsevier Inc.. vol. 26, pp. 47-63.

Bansal, V. K., and Somani, A. (2002). Exchange Traded Funds Challenges: to Traditional Mutual Funds. Review Of Business. vol. 23, pp. 40-43.

Bansal, V., Marshall, J. F., and Yuyuenyongwatana, R. P. (1995). Macroeconomic Derivatives: More Viable Than First Thought!. Global Finance Journal. vol. 6, pp. 101-110.

Bansal, V., Marshall, J. F., and Yuyuenyongwatana, R. P. (1994). Hedging Business Cycle Risk with Macroeconomic Swaps: Some Preliminary Evidence. New York, NY: The Journal of Derivatives/Institutional Investor, Inc. . vol. 1, pp. 50-58.

Bansal, V., Chen, A., Bicksler, J., and Marshall, J. (1993). Gains from Synthetic Financing with Interest Rate Swaps: Fact or Fancy?. New York, NY: Journal of Applied Corporate Finance / Stern Stewart Management Services, Inc.. vol. 6, pp. 91-94.

Bansal, V., Ellis, M., and Marshall, J. (1993). The Pricing of Short-dated & Forward Interest Rate Swaps. Charlottesville, VA: Financial Analysts Journal/The Association for Investment Management and Research . vol. 49, pp. 82-87.

Bansal, V. K., Tucker, A., Herbst, A., and Marshall, J. F. (1992). Hedging Quantity Risk with Macro Swaps and Macro Options. New York, NY: Journal of Applied Corporate Finance / Stern Stewart Management Services Inc.. vol. 4, pp. 103-108.

Bansal, V., Pruitt, S. W., and Wei, K. J. (1989). An Empirical Investigation of the Impact of CBOE Option Initiation on the Volatility and Trading Volume of the Underlying Stocks: 1973-1986. Financial Review. vol. 24, pp. 19-30.


Penza, P., and Bansal, V. K. (2001). Measuring Market Risk with Value at Risk. John Wiley & Sons, Inc.. pp. 302.

Marshall, J. F., and Bansal, V. K. (1992). Financial Engineering: The Complete Guide to Financial Innovation. 2 Broadway, New York, NY 10004-2207: The New York Institute of Finance (a Simon & Schuster Company). pp. 728.

Books Chapters

Bansal, V. K., Ellis, M., and Marshall, J. (1992). The Spot Swap Yield Curve: Derivation and Use. Advances in Futures and Options Research. vol. 6, pp. 279-290.


Bansal, V., and Casabona, P. (2004). New FASB Rules Consolidate Variable Interest Entities. AFP Exchange. vol. 24, pp. 48-49.

Bansal, V., Marshall, J., and Ellis, M. (1992). Hedging: Spots on a Curve. London: Balance Sheet / Risk Magazine Ltd.. vol. 1, pp. 26-31.

Bansal, V., Tucker, A., and Marshall, J. (1991). Using Fixed-for-Fixed Interest Rate Swaps as a Cash Management Tool. Corporate Risk Management. vol. 3, pp. 20-22.

Bansal, V., Yuyuenyongwatana, R., and Marshall, J. (1991). Hedging Business Cycle Risk: The Next Major Wave in Derivatives?. Derivative Highlights. vol. 1, pp. 6-11.