Areas of Expertise

Dr. Bhagat is a nationally recognized expert on lawsuits concerning

  • Bankruptcy litigation.
  • Event studies.
  • Valuation of private corporations.
  • Litigation surrounding M&A.

Dr. Bhagat has done expert work on:

  • Class actions:  event studies, loss valuation, statistical analysis.
  • Bankruptcy litigation:  fraudulent conveyance, and related actions: solvency; damages; valuation; loss causation.
  • Employment disputes: damages in contract dispute; lost earnings.
  • Corporate governance and breach of duty: loss causation, event studies, mitigation, valuation, damages.
  • Insurance and product liability:  sampling and statistical analysis of claims data; loss causation and damages in business interruption claim.
  • Intellectual property:  lost sales and profits, business trends; reasonable royalty.
  • Securities and white-collar crime:  loss causation; value relevance; market efficiency; damages; event studies.
Selected Professional Presentations
  • October 2018: Board Governance & Executive Compensation Bhagat-ExecCompensation : Presentation for Council of Institutional Investors, New York, NY.
  • October 2018. Bank Capital and Bank Governance : FRB-100118-overheads : Presentation for U.S. Federal Reserve Board of Governors, Washington DC.
  • July 2018. Capital raising strategies by late-stage high growth companies: Presentation for the National Association of Corporate Directors in San Francisco, CA, to about 200 CEOs and board-members of late stage high growth companies.
  • April 2018. Class Action, Halliburton II, & Event Studies Bhagat-Halliburton-II-1017 : Presentation for Kirkland & Ellis LLP attorneys in New York, NY.
  • May 2017. Presentation on M&A Strategies for the Middle Market, at TiE-Rockies, Denver CO.
  • April 2017. Participant at the White House Initiative, “Core Principles for Regulating the United States Financial System” at the U.S. Department of the Treasury, Washington DC.
  •  April 2017. Presentation on “Financial Crisis, Corporate Governance, and Bank Capital” to economists and attorneys at the U.S. Federal Deposit Insurance Corporation in Washington DC.
  •  November 2016. Presentation on corporate governance and bank capital to policy makers, economists, and attorneys from the SEC, Federal Reserve Bank, U.S. Department of Treasury, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency; presentation at U.S. Securities & Exchange Commission, Washington DC.
  •  June 2016. M&A strategies for the mid-size companies. TiE-Rockies. Denver CO.
  • December 2014. Presentation on corporate governance in India at CFO Forum in New Delhi.
  • November 2014. Presentation on executive compensation reform and bank capital requirements at U.S. Department of Treasury, Washington DC.
  • April 2014. Presentation to venture capitalists and CEOs of high-tech companies on valuation and governance at Society of Physician Entrepreneurs in Denver, CO.
  • March 2014. Submission of amici curiae brief to the U.S. Supreme Court in EPJ Fund, Inc., et al. v Halliburton, et al.
  • October 2012, Presentation at Council of Institutional Investors annual meeting, Seattle WA, on corporate governance and executive compensation.
  • September 2012. Submission of amici curiae brief to the U.S. Supreme Court in Amgen Inc., et al, v Connecticut Retirement Plans, et al.
  • May 2012. Presentation at American Enterprise Institute, Washington DC, on business uncertainty and unemployment.
  • March 2012. Presentation on bank capital requirements at International Monetary Fund, Washington DC.
  • December 2011, Presentation on bank capital requirements at Board of Governors of the Federal Reserve System, Washington DC.
  • March 2011, Submission of amici curiae brief to the U.S. Supreme Court in EPJ Fund, Inc., et al. v Halliburton, et al.
  • May 2010. Presentation on corporate governance to senior rule-makers and staff attorneys at U.S. Securities & Exchange Commission, Washington DC.
  • May 2010. Presentation on executive compensation reform to staff attorneys at U.S. Department of Treasury, Washington DC.
  • May 2009. Keynote speaker on executive compensation. Corporate Directors Forum in San Diego.
  • January 2009. Presentation on the subprime crisis and corporate litigation to Sidley Austin LLP attorneys in San Francisco.
  • January 2009, Presentation on IPO valuation to ThinkEquity Partners LLC in San Francisco.
  • October 2008. Plenary session panelist on corporate governance at the National Association of Corporate Directors annual meeting in Washington DC.
  • October 2007. Presentation on Corporate Governance to Grant Thornton LLP in Chicago.
  • April 2007. Presentation on Corporate Governance and Company Performance to Clifford Chance law firm in New York.
  • April 2007. Presentation on Strategic Response to Corporate Litigation to Dreier LLP law firm in New York.
  • October 2006, Presentation on Valuation of High Growth companies to a group of senior private equity professionals in New York.
  • June 2006: Presentation on corporate governance to JPMorgan Chase in New York. Audience included senior corporate attorneys and executives.
  • May 2006: Moderator for Governance in the Family Owned Business panel discussion in Denver, National Association of Corporate Directors – Colorado Chapter. Audience included CEOs of large businesses owned by Colorado families.
  • March 2006: Presentation on Proxy Voting for Money Managers. Investment Company Institute Annual Conference in Scottsdale, AZ. Audience included senior hedge-fund and mutual-fund investment managers.
  • March 2005. Presentation on Strategic Response to Corporate Litigation to Patton & Boggs law firm in Denver. Audience included senior corporate attorneys and executives.
  • December 2004: Presentation on Valuation of High Growth companies to a group of Goldman Sachs executives in New York.
  • May 2004: Keynote Speaker on Conference on Corporate Governance at the American Enterprise Institute, Washington DC. Audience included government regulators, policy advisors, corporate executives and attorneys.
  • December 2003: Presentation on valuation and litigation to Kirkland & Ellis law firm in New York. Audience included senior corporate attorneys and executives.
  • April 2002: Presentation on performance measurement to the Financial Executives Institute (FEI) Annual Conference in Colorado Springs. Audience included CFOs and senior finance managers of US corporations.
  • March 2002: Presentation on corporate board compensation and corporate performance to the US Securities & Exchange Commission in Washington DC. Audience included SEC policy analysts and economists.
  • October 2001: Presentation on valuation strategies to Dana & Wiggins in New Haven CT, a Connecticut law firm. Audience included corporate lawyers.
  • August 2001: Presentation on valuation to Greenberg & Traurig law firm in Denver. Audience included corporate lawyers.
  • September 2000: Presentation on corporate governance related to mergers to the US Department of Justice in Washington DC. Audience included lawyers and policy-makers.
  • October 1999: Presentation on management compensation to Colorado Young Entrepreneur’s Organization in Denver. Keynote Speaker. Audience: Colorado CEO-entrepreneurs.
  • May 1999: Presentation on financial management in the healthcare industry to the Colorado Health Management Association in Denver. Keynote Speaker. Audience included senior-level managers in the healthcare industry.
  • April 1998: Presentation on corporate performance measurement to the Q-Group Annual Conference in Tampa FL. Audience included senior investment bankers and investment professionals.
Selected Publications

“The Costs of Inefficient Bargaining and Financial Distress: Evidence from Corporate Lawsuits,” Journal of Financial Economics, with J.A. Brickley and J.L. Coles.

“Do Trademark Infringement Lawsuits Affect Brand Value?” Journal of Market-Focused Management, with U.N. Umesh.

“The Shareholder Wealth Implications of Corporate Lawsuits,” Financial Management, with J.L. Coles and J. Bizjak.

“Shareholder Litigation: Share Price Movements, News Releases, and Settlement Amounts,” Managerial & Decision Economics, with J.D. Beck.

“Empirical Studies of Corporate Law,” in Handbook of Law & Economics edited by Mitch Polinsky and Steven Shavell (Harvard Law School), North Holland, with Roberta Romano.

“Indemnification and Liability Insurance for Corporate Management: The Effect on Shareholder Wealth,” Journal of Risk and Insurance, with James Brickley and Jeff Coles.

“The Effect of Corporate Governance on Performance,” in Corporate Governance: A Synthesis of Theory, Research, and Practice, John Wiley & Sons, with Brian Bolton and Roberta Romano.

“Valuation of IPOs,” in The Oxford Handbook of Venture Capital, Oxford University Press, with Rajesh Aggarwal and S. Rangan.

“Reforming Executive Compensation: Simplicity, Transparency and Committing to the Long-term,” European Company and Financial Law Review, with Roberta Romano.

“The Impact of Fundamentals on IPO Valuation,” Financial Management, with Rajesh Aggarwal and S. Rangan.

“The Promise and Perils of Corporate Governance Indices,” Columbia Law Review, with Roberta Romano and Brian Bolton.

“Event Studies and the Law: Part I: Technique and Corporate Litigation,” American Law and Economics Review, with Roberta Romano.

“Do Tender Offers Create Value? New Methods and Evidence,” Journal of Financial Economics, with David Hirshleifer, Ming Dong, and Robert Noah.

“Investment and Internal Funds of Distressed Firms,” Journal of Corporate

Finance, with Nathalie Moyen and Inchul Suh.

“Event Studies and the Law: Part II: Empirical Studies of Corporate Law,” American Law and Economics Review, with Roberta Romano.

The Econometrics of Corporate Governance Studies, MIT Press, Cambridge, MA, 2002, (second edition, 2005) with Richard Jefferis.

“Real Options in the Telecommunications Industry,” in Real Options: The New

Investment Theory and its Implications for Telecommunications Economics, Kluwer Academic Publishers, Boston, MA.

“Why Consumers Choose Managed Mutual Funds Over Index Funds: Hypotheses from Consumer,” Journal of Consumer Affairs, with D.R.  Lichtenstein and P.J. Kaufman.

Corporate Performance and Blockholdings of Investment Professionals, Association for Investment and Research (AIMR), with B.S. Black and M. Blair.