Skip to content

Toggle service links

You are here

  1. Home
  2. Dr Devendra Kodwani

Dr Devendra Kodwani

Profile summary

  • Central Academic Staff
  • Associate Dean, Learning and Teaching
  • The Faculty of Business and Law
  • The Open University Business School
  • Department for Accounting and Finance
  • devendra.kodwani

Professional biography

Devendra joined The Open University Business School in 2004 as a Lecturer in Finance at the Centre for Financial Management. He was previously employed in India at the Indian Institute of Management, Ahmedabad; Gujarat University and the Tolani Institute of Management Studies.

He has been a course team member in various accounting and finance modules taught at undergraduate and post graduate levels. These include Financial accounting (B291), Financial strategy (B821), Issues in international finance and investment (B854).  As Masters Programme Director during 2010-2013, Devendra has led the redevelopment of the Open University's MBA programme, and the development of two specialist masters MSc Finance and MSc Human Resources Management. As Associate Dean Curriculum, Learning and Teaching Devendra leads on learning design and learning teaching strategy for all qualifiations offered by the Faculty of Business and Law. Recently he also led on development of Massive Online Open Courses (MOOCs) programme on Future Learn. He also developed MOOC on Bookkeeping for Personal and Business Accounting.

His current research focuses on the evolution of regulatory institutions in India, corporate governace and ethics. He has been examining the reforms in the electricity, water and telecommunications industries in the UK and India. He is currently engaged in research on institutional endowments and regulatory capabilities in India. His other research interests include behavioural finance, governance, management and accounting in utilities, and derivatives. He supervises masters and doctoral students in area of finance. He also contributes to the blog accompanying the Money Programme - see his views on tele-marketing and understanding cartels.

He was until 2013 a panel member for the Association of Certified Chartered Accountants (ACCA) for the Professional Accountant paper, which is part of the ACCA qualification. He is member of British Accounting and Finance Association and World Interdisciplinary Network for Institutional Research

Research interests

Corporate governance, regulatory economics; efficiency/productivity; measurement in utility industries using Data Envelopment Analysis (DEA); ethics, privatization of PSU, particularly utilities such as power, water, telecoms and gas; financial economics. I am a contributor to the blog accompanying the Money Programme.

Teaching interests

Finance and accounting.

Member of Academic Council of CUTS Institute for Regulation and Competition India.

Research Activity

Research groups

NameTypeParent Unit
Socially Responsible Management and Regulation ThemeThemeThe Faculty of Business and Law


International Evidence on the Determinants of Organisational Ethical Vulnerability (2018)
Ullah, Subhan; Ahmad, Sardar; Akbar, Saeed and Kodwani, Devendra
British Journal of Management ((In Press))
Stock market investors' use of stop losses and the disposition effect (2017)
Richards, Daniel W.; Rutterford, Janette; Kodwani, Devendra and Fenton-O'Creevy, Mark
European Journal of Finance, 23(2) (pp. 130-152)
Shareholder wealth creation following M&A: evidence from European utility sectors (2013-03)
Datta, Sanjukta; Kodwani, Devendra and Viney, Howard
Applied Financial Economics , 23(10) (pp. 891-900)
The impact of ICT-enabled offshoring announcements on share prices (2009)
Daniel, Elizabeth; Kodwani, Devendra and Datta, Sanjukta
Journal of Enterprise Information Management, 22(3) (pp. 241-256)
Economic Regulation of Utility Industries (2000-07)
Kodwani, Devendra
Economic & Political Weekly, 35(30) (pp. 2657-2661)
The regulation of the United Kingdon electricity industry: an event study of price-capping measures (1998)
Dnes, Anthony W.; Kodwani, Devendra G.; Seaton, Jonathan S. and Wood, Douglas
Journal of Regulatory Economics, 13(3) (pp. 207-226)
Privatisation policy and power sector reforms: lessons from British experience for India (1997-09-13)
Wood, Douglas and Kodwani, Devendra
Economic and Political Weekly, 32(37) (pp. 2350-2358)
Action research: bridging the gap between theory and practice (1997)
Kodwani, Devendra
Synerygy, S.P. University Journal of Management, 1(2)
Capital Markets: a consumers' handbook (1994)
Kodwani, Devendra
Publisher : Consumer Education and Research Center, Ahmedabad and Friederich Naumann Foundation | Published : New Delhi
Infrastructure in India (2010-11-10)
Kodwani, Devendra
In: Budhwar, Pawan S. and Varma, Arup eds. Doing Business In India (pp. 79-100)
ISBN : 9780415777544 | Publisher : Routledge | Published : Abingdon, Oxford, UK
Regulatory challenges in electricity markets in India (2009)
Kodwani, Devendra
In: Mehta, Pradeep S. and Evenett, Simon J. eds. Politics Trumps Economics: Political Economy and the Implementation of Competition Law and Regulation in Developing Countries (pp. 361-409)
ISBN : 9788171887255 | Publisher : Academic Foundation | Published : New Delhi, India
Competition and regulation in energy sector in India (2006)
Kodwani, Devendra
In: Mehta, Pradeep S. ed. Towards a functional competition policy for India (pp. 189-197)
ISBN : 8171884490 | Publisher : Academic Foundation | Published : New Delhi, India
An Analytical Study of Option Greeks on Derivative Markets in India (2005-10)
Kodwani, Devendra G.
In: Motamen-Samadian, Sima ed. Risk management in emerging markets. Centre for the Study of Emerging Markets (pp. 17-34)
ISBN : 1403991537 | Publisher : Palgrave Macmillan Ltd | Published : Basingstoke, UK
Good quality management education (2002)
Kodwani, Devendra
In: Srivastava, S.S. ed. Development of management education In India
Publisher : Anmol Publications Pvt. Ltd. | Published : New Delhi, India
Ensuring good quality management education in India: Role of Educational Markets (2002)
Kodwani, D. K.
In: Srivastava, S. S. ed. Development of Management Education in India (pp. 28-45)
ISBN : 8126112727 | Publisher : Anmol Publications Pvt. Ltd. | Published : New Delhi, India
Privatisation issues and methods: lessons from British experience for India (1997)
Kodwani, Devendra and Wood, Douglas
In: Titus, Varkey K. ed. Economic Liberalisation: its impact on Indian economy, business and society (pp. 61-74)
Publisher : Association of Indian Economic Studies | Published : Kansas, USA
Restructuring PES: the case of a public utility (1994)
Kodwani, Devendra and Gopalkrishnan, C.
In: Gupta, Nirmal K. and Ahmad, Abad eds. Managing Transition (pp. 361-375)
ISBN : 9788122406689 | Publisher : Wiley Eastern Limited | Published : New Delhi, India
Financial Strategy (2nd Edition) (2006-02)
Rutterford, Janette; Upton, Martin and Kodwani, Devendra eds.
ISBN : 470016558 | Publisher : John Wiley and Sons Ltd | Published : Chichester, UK
Global Diffusion of Anglo-American Governance: Evaluating Responses Across Three Emerging Economies (2017)
Areneke, Geofry Nfortaw Agbor; Kimani, Danson; Yusuf, Fatima; Kodwani, Devendra and Viney, Howard
In : The 77th Annual Meeting of the Academy of Management (4-8 August 2017, Atlanta, Georgia, USA)
Non-compliance, board structures and the performance of financial firms during crisis: UK Evidence (2016-06-01)
Ahmad, Sardar; Kodwani, Devendra and Upton, Martin
In : International Finance and Banking Society (IFABS), Risk in Financial Markets and Institutions: New challenges, New solutions (1-3 June 2016, Universitat Autònoma de Barcelona (UAB), Casa Convalescència, Barcelona)
Exploring the perception of corporate governance actors on corporate governance implementation process, regulatory compliance and firm performance in emerging markets (2015-09-03)
Areneke, Geofry; Yusuf, Fatima; Kimani, Danson; Kodwani, Devendra and Viney, Howard
In : African Accounting and Finance Association Conference (1-4 September 2015, Balaclava, Mauritius)
Corporate Governance in Less Developed Countries (2015-01)
Kimani, Danson; Viney, Howard and Kodwani, Devendra
In : 75th Annual Meeting of the Academy of Management (7-11 August 2015, Vancouver, BC, Canada)
Trust me, I'm an entrepreneur! Can trust help SMEs to gain the credit they need? (2010-01)
Moro, Andrea and Kodwani, Devendra
In : 5th Workshop on Trust within and Between Organisations (28-29 January 2010, Madrid, Spain)
SMEs and banks: investigating the link between trust and the pledging of personal collateral (2010)
Moro, Andrea; Lucas, Michael and Kodwani, Devendra
In : International Conference on Business and Finance (12-13 March 2010, Hyderabad, India)
Governance mechanisms for telecommunications and electricity industries in India: 19th Century to 21st Century (2010)
Kodwani, Devendra
In : International Conference on Regulation and Competition Policy for Development: Practice and Challenges (27-28 Jan 2010, University of Jordan, Amman)
Small and medium sized enterprises (SMEs) and their cost of capital (2010)
Moro, Andrea; Lucas, Michael and Kodwani, Devendra
In : International Conference on Management of SMEs 2010 (17-18 Sep 2010, Nagpur, India)
Accounting judgement test and teaching of ethics (2009)
Kodwani, Devendra and Schillinger, Marcia
In : Moral and Social Action Interdisciplinary Colloquium (27-31 July 2009, Universität Konstanz, Konstanz)
M&A in utilities in Europe: testing for agency and hubris hypotheses (2009)
Datta, S. and Kodwani, D.
In : ESRC Conference on Corporate Governance and Development (5 Sep 2009, Birmingham Business School)
Market for corporate control and privatised utilities (2008)
Datta, S.; Kodwani, D. and Viney, H.
In : European Financial Management Association Annual Conference (25-28 June 2008, Athens, Greece)