by Harneet Kaur

Prof. Gohil's paper entitled "Factors driving abnormal returns in private equity : A new perspective" has been published in Journal of Private Equity

Prof. Raviraj Gohel has co-authored a research paper which has been published by Institutional Investor Journals,2016 and also by IUP journal of applied finance, 2015. The in-depth research on the above topic, has given lots of insights, which includes investigates factors driving abnormal returns in private equity funds in India from 2007 to 2012. In the research they have found that skill factors such as type of exit route, holding period, size of investment, stage of investment, and type of industry significantly affect abnormal returns of private equity funds.In addition, market factors such as investment year, entry and exit value of S&P CNX Nifty, and market return during the period of the deal as well as a fund’s structure also drive abnormal returns in private equity funds.

They have concluded the paper in these three parameters
  • Stage of investment and the types of Industry 
  • Sponsor, and exit style, as well as holding period and 
  • Type of exit route jointly influence abnormal returns in private equity funds.

by Anonymous

Convocation 2016 -Shanti Business School


The lawns of Shanti Business School bustled with enthusiasm as the Institute staged its 5th convocation for the PGDM & PGDM-Communication & PGDM-Executive students. A batch of total 142 students, were awarded their Diplomas by the Chief Guest, Dr. BP Sanjay. Dr. Sanjay, a PhD from Simon Fraser University of Canada, was the founding Vice-Chancellor of Central University of Tamil Nadu and is a communication scholar of international repute. In his illustrious career he was Director of the prestigious Indian Institute of Mass Communication, New Delhi, and Pro-Vice Chancellor of the Central University of Hyderabad. He is currently the Director, College of Integrated Studies at Central University, Hyderabad, and specially came to Ahmedabad to grace the occasion. Before the start of the Convocation proceedings, he planted a sapling to commemorate the event.


In his address to the students he congratulated all the Convocating students and wished them best for their future. Dr. Arbind Sinha, Director General, SBS, earlier introduced the Chief Guest and also gave insights on the academic year. Shri. Jyotiprasadji Chiripal, who Chaired the Convocation complemented the students for their commendable achievement & advised them to have a clear vision and purpose for their goals.


Convocating students were placed across various sectors and industries. Some of the top
recruiting companies this year included Telenor, Deutsche Bank, ICICI Securities, Khimji Ramdas,
SNL Financial, HDFC, etc. There were also eminent first time recruiters like Standard Chartered,
Tata Capital, Helios, Godrej, VIP Industries, amongst others.

The following students were awarded with scholastic Medals & Certificates, based on their
academic and overall excellence.

Stream Students Name Award Name
Finance Nishant Shrimali Excellence Certificate
Marketing Nikita Gaur Excellence Certificate
Human Resource Sakshi Kanesaria Excellence Certificate
Decision Science Kulkarni Nupur Excellence Certificate
PGDM Mehta Tanvi Academic Excellence
PGDM – Communication Debjyoti Sarkar Academic Excellence
PGDM – Executive Nishil Pandya Academic Excellence

Student of the Year
(All Courses)
Divya Dubey (PGDM-C)

Divya Dubey who was awarded student of the year for her overall academic and extra co- curricular activities said “It’s one in a lifetime experience! I have really worked hard for 2 years and it feels so good when your institute values your hard-work. I am speaking on behalf of everyone here, this day and moment, when you convocate and step into a career, will forever be in our memories. We are sad leaving SBS but look forward to continuing our relationship as alumni”.

After the convocation a celebratory dinner was held for all students.