Research Interests: Mergers & Acquisitions, Enterprise Valuation, and Corporate Environmental Responsibility
Passionate about “Mergers & Acquisitions” (M&A), Dr. Kamal Ghosh Ray is the internationally acclaimed author of a book on the same subject. He has also authored 17 case studies on M&A that are currently used in many leading business schools. Dr. Ghosh Ray is one of the most senior professionally qualified Cost and Management Accountants in the country today. He has the unique distinction of being one of the two candidates who qualified post-CMA (ICWA) examination on all India basis in 1984. He acquired his bachelors (1974), masters (1976) and PhD (1990) from Calcutta University for his work on "Qualities of Corporate Annual Reports and Accounts in India". He has more than four decades of corporate and academic experience, having worked in senior positions at multinational corporations like ABB, Flakt, Heilgers, etc. He was also a visiting professor with Jadavpur University, Indian Institute of Bankers, and Institute of Cost Accountants of India (ICAI), besides serving as the dean and director of many top rated Indian business schools. Dr. Ghosh Ray was also a visiting professor of finance at Ecole Supérieure de Commerce, Dijon, France.
Bestowed a senior honorary fellowship by the Institute for Mergers, Acquisitions and Alliances (IMAA), Vienna, Austria, in 2015, Dr. Ghosh Ray is in a core group for international research on M&A led by Manchester University Business School, UK and Tuck School of Business, Dartmouth, USA. As a member of this group, he has published four research papers on M&A in Scopus indexed book series, "Advances in Mergers and Acquisitions". He has also published research papers in ABDC listed journals. Dr. Ghosh Ray has presented his research papers in MIT, Syracuse University, Queensland University, Amman University, etc. and in many national and international forums including Thailand, Turkey, Vietnam, etc. He received academic mentorship from Harvard Business School, Wharton School and University of St. Thomas, Minnesota. He is a Ph.D. thesis examiner of IIT Delhi and IIFT Delhi. Dr. Ghosh Ray was a nominee for the position of Chairman of Competition Commission of India (2015), and of Executive Director of Calcutta Stock Exchange (1996) and Delhi Stock exchange (2000).
‘Mergers and Acquisitions: Strategy, valuation and Integration’, Prentice Hall of India, New Delhi, 2010, PP 888, (first reprint in 2011, second reprint in 2013 and third reprint in 2015). Widely cited internationally (ref. google scholar). (Under revision now)
Journals and Magazines
Full lenghth cases
1. ABB-Flakt Merger in India: An Analysis.
2. The Rise and Fall of Bird & Company: An Untold Story.
3. Grasim Acquired Larsen and Toubro’s Cement Plants.
4. Spentex Industries Limited Acquired Indo Rama Textiles Limited.
5. Monnet Ispat Limited Acquired Monnet Power Limited.
6. Acquisition of Bank of Madura by ICICI Bank.
7. Shaw Wallace Bought GENELEC: A Case of Due Diligence Failure.
8. Leveraged Buyout of Tetly (UK) By Tata Tea (India).
9. Acquisition of RJR Nabisco By KKR Through Leveraged Buyout.
10. Production Incentive Scheme in Kumardhubi Fireclay & Silica Works Ltd.
11. Corporate Valuation and Indian Politics: Sale of 51% Stake of BALCO to Sterlite Industries.
12. Sale of Viva and Maltova Brands.
13. Goodwill of Salem Steel Plant.
14. Swap Ratio and the Failed Merger between Global Trust Bank and UTI Bank.
15. Merger of Reliance Petroleum Ltd. With Reliance Industries Ltd.
16. Merger of ICICI Bank With ICICI Limited
17. Disinvestment of 26% Stake Of Government Of India In Indian Petrochemicals Corporation Limited (IPCL) To Reliance Industries Limited (RIL)
18. Acquisition of ETC Networks by Zee Telefilms Limited
Presentations in International conferences
Presentations in national conferences
In Monsoon Semester in AU:
In Winter Semester in AU:
Has proficiency in teaching Business Models, Revenue Management, Enterprise Risk Management, Strategic Cost Management, Project Appraisal & Financing, …