Consulting and Executive Education Experience with Companies / Organizations:

Professor Goyal has extensive experience in consulting and executive education for companies including AstraZeneca, The Hong Kong and Shanghai Hotels Limited (Peninsula Group), DaimlerChrysler, HNA Airlines, Medtronic, Merck KGaA, MTRC, PCCW, PricewaterhouseCoopers, Sanofi, and Shui On Construction.

Relevant Teaching Experience with Universities:

EMBA Programs: HKUST (Hong Kong), Korea University (Korea), and Ben Gurion University (Israel)

MBA Programs: HKUST (Hong Kong), State University of New York at Buffalo (US), and University of Pittsburgh (US).

Selected Teaching and Professional Awards:

• Best MBA Core Teacher Award (2004 and 2005)
• Michael Gale Medal for Distinguished Teaching (2003), the highest honor awarded to a single faculty in the university
• Excellence in Teaching, HKUST Business School (1996-2008)
• Franklin Prize for Teaching Excellence (2001, 2004, and 2006)
• Jensen Prize for the Best Paper Published in the Journal of Financial Economics in the Areas of Corporate Finance and Organizations (Second Place Winner), joint with Murray Frank (2003)
• HSBC Asset Management Hong Kong Competitive Research Award at the Pacific-Basin Finance Conference (1998)
• PACAP Research Fellow at the SandraAnnMorsilliPacific-BasinCapitalMarketsResearchCenter (1998-1999)
• Research Fellow for the Center for Study of Contracts and Structure of Enterprise, University of Pittsburgh (1992-1994)

Research and Publications:

Professor Goyal’s research interests are in empirical corporate finance, with an emphasis on capital structure and corporate governance. His research papers have been published in the Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Business, Journal of Financial Intermediation, Finance Research Letters, Journal of Corporate Finance and the Pacific Basin Finance Journal.

Industry Experience:

Professor Goyal is a member of the American Finance Association, the Western Finance Association and the Beta Gamma Sigma. Before joining academics, he has worked for the First Leasing Company of India as its Corporate Treasurer. Professor Goyal is currently the Academic Director of the Kellogg-HKUST Executive MBA Program.