Devlina Chatterjee

PhD (IISc Bangalore)

Associate Professor, Department of Management Sciences


Research Interest



  • PhD (Management Studies), IISc Bangalore, 2010
    Thesis Title: Studies on some aspects of liquidity of stocks: Limit order executions in the Indian stock market
    Thesis Supervisor: Prof. Chiranjit Mukhopadhyay
  • MS, (Agricultural Economics), 1999 & MS (Agricultural Engineering, Penn State
    University, 1996.
  • PGDM, Agricultural Management, IIM Ahmedabad, 1991
  • B.Tech., Agricultural Engineering, IIT Kharagpur, 1989.



  • Managerial Economics, Econometrics


  • Manohar Giri and Devlina Chatterjee. “Factors Affecting Acquisition or Discontinuation of Life Insurance Coverage in Rural and Urban Households in India: A Panel Study”, " IIMB Management Review, Forthcoming

  • Mahfuzuar Rahman Barbhuiya and Devlina Chatterjee. 2020, “Vulnerability and Resilience of the Tourism Sector in India: Effects of Natural Disasters and Internal Conflict”, Tourism Management Perspectives. 33, 100616.

  • Chatterjee, Devlina, Bahul Dandona, Aditya Mitra and Manohar Giri. 2019. “Airbnb in India: Comparison with Hotels, and Factors Affecting Purchase Intentions.” International Journal of Culture, Tourism, and Hospitality Research. (Forthcoming).

  • Chatterjee, Devlina, Mahendra Kumar and Kapil K Dayma, "Income security, social comparisons and materialism: Determinants of subjective financial well-being among Indian adults." International Journal of Bank Marketing 37.4 (2019): 1041-1061.

  • Chatterjee, Devlina, Saurabh Kumar, and Purba Chatterjee, 2019. "Time to Payoff: Efficacy of Analyst Recommendations in the Indian Stock Market" IIMB Management Review.

  • Chatterjee, Devlina. "A simple example for the teaching of demand theory: Aggregate demand estimation for onions in India." IIMB Management Review 28.1 (2016): 20-24. (Elsevier).

  • Das Bhattacharya, Sangeeta, Subhasish Bhattacharyya, Devlina Chatterjee, Swapan Kumar Niyogi and Nageshwar Chauhan & A. Sudar, 2014, “Risk Factors for Incomplete Immunization in Children with HIV Infection”, The Indian Journal of Pediatrics (2013): 1-6 (Springer Journal).

  • Chatterjee, Devlina and Mukhopadhyay, C., 2013 Execution Times of Small Limit Orders: A Simpler Modeling Approach. Vikalpa Volume 38 (1) pp 49-64. (SAGE publication).

  • Chatterjee, Devlina and Mukhopadhyay, C., Factors Underlying Stock-Specific Liquidity Proxies under Different Market Conditions: A Study of Indian Equities. Journal of Emerging Market Finance August 2013 vol. 12 no. 2 151-196. (SAGE Journal).

  • Mukherjee, D., Puri, V. M., and Anantheswaran, R. C., Measurement of coupled heat and moisture transfer coefficients for selected vegetables, 1997, Drying Technology Vol 15(1) p. 71-94. (Taylor & Francis).

Working Papers

  • Devlina Chatterjee, Danish Nawaz and Karthik Ramaklrishnan, 2020, A Simple Robust Two Dimensional Measure for Overtourism: Longitudinal Study of 22 EU Countries

  • Devlina Chatterjee, Isvorya S. and Yash Sikri. 2020 “Cultural Value Orientation and Stock Trading Behavior: A Study of Individual Investors from India”

  • Manohar Giri and Devlina Chatterjee. 2019 “Lapsation of Life Insurance Policies - Who and Why: A Study of Consumer Well-being in India”

  • Arijit Ganguly, Rhit Sanyal, Anuraag Bhatt, Devlina Chatterjee, and Anindya Chatterjee. “IRTree-based Two-dimensional Assessment of GATE-2015 Performance, with Implications for Admissions and Employment”.

  • Devlina Chatterjee, Tanvi Keswani, and Sanjay Gupta, 2017. “Financial Traits of Indian Adults”

  • “Binary Logistic Regression Using Survival Analysis” – co-authored with A. Chatterjee (September 6, 2010). Available at SSRN: or (Researchgate).


  • “Consumer Behavior inLife Insurance: Theory of Planned Behavior”, co-authored with Manohar Giri, 3rd International Conference on Financial Markets and Corporate Finance -ICFMCF 2018 held at IIT Kanpur. 12th-14th July, 2018

  • “Factors Affecting Choice of Insurance Policy”, co-authored with Manohar Giri, 3rd International Conference on Financial Markets and Corporate Finance -ICFMCF 2018 held at IIT Kanpur. 12th-14th July, 2018

  • “Factors Affecting Lapsation of Life Insurance Policies”, co-authored with Manohar Giri, 3rd International Conference on Financial Markets and Corporate Finance -ICFMCF 2018 held at IIT Kanpur. 12th-14th July, 2018

  • "Development of a Money Attitude and Financial Behavior Scale for Indians", co-authored with Tanvi Keswani and Sanjay Gupta, India Finance Conference, 20-22 December 2017

  • "Changes in Life Insurance Ownership Among Indian Households: A panel study" co-authored with Manohar Giri, India Finance Conference, 20-22 December 2017

  • "Who, What and Why: A Review and Classification of Research in Online Consumer Behaviour" - co-authored with Somnath Bhattacharya and Jayanta Chatterjee, IIM Indore NASMEI Summer Marketing Conference, IIM Indore, July 27-29, 2017

  • "Block Shareholders and Stock Liquidity in the Indian Stock Market: Lack of Trading or Information Asymmetry?", India Finance Conference, Ahmedabad on 19th-21st December, 2016

  • "Factors Affecting Changes in Life Insurance Consumption in Indian Households" co-authored with Manohar Giri, COSMAR, 2016, IISc., on 11th and 12th November, 2016

  • "Efficacy of Analyst Recommendations from a Liquidity Perspective: A Survival Analysis Approach" co-authored with Saurabh Kumar and Purba Chatterjee, ICFMCF 2016, IIT Madras, August 12th-13th, 2016

  • "Towards Application of Item Response Theory to Data from India's Graduate Aptitude Test in Engineering (GATE)” co-authored with A. Chatterjee, International Association for Educational Assessment (IAEA) Conference held in Lawrence, Kansas, USA, from Oct 11th -15th, 2015

  • "A simple example for the teaching of demand theory: Aggregate demand estimation for onions in India", BAI conference in IIM Bangalore held on Dec 11-13th, 2013

  • "Factors Underlying Proxy measures of Liquidity" - coauthored with Chiranjit Mukhopadhyay, at Forecasting Financial Markets in India (FFMI) held at VGSOM, IIT Kharagpur, December 29-31, 2008

  • "Common Factors in Proxy measures of Liquidity in the Indian Stock market" presented at COSMAR, IISc, Bangalore on November 20-21st, 2008


  • Business Development Executive (Scientist E level), Antrix Corporation, Department of Space, Government of India (July 2003–July 2006)

  • Assistant Manager (Modeling), GE Capital Analytic Center of Excellence (ACOE - later GECIS Analytics), Bangalore (Aug 2000–May 2003)

  • Industrial Finance Officer, Industrial Finance Corporation of India, New Delhi (July 1991–July 1993)


  • The Indian Economic Association Medal for the academic year 2010-2011(for best PhD Thesis in the Department of Management Studies in the year 2010-2011).

  • Best paper award (student category) at conference "Forecasting Financial Markets in India", Vinod Gupta School of Management, IIT Kharagpur, Dec. 2008 - FFMI 2008.

  • Second prize at Consortium of Students in Management Research COSMAR 2008, Department of Management Studies, IISc Bangalore.

  • Awarded research assistantship for pursuing MS in Agricultural Engineerign as well as Agricultural Economics Departments at Penn State, University Park, PA, USA.

  • Awarded Green Belt Certification for Six Sigma Implementation at GE Capital.

  • Music, Theater



Room No.- 211
Department of Management Sciences
IIT Kanpur,
Kanpur 208016,INDIA

Office Phone: 0512-259-6960 (O)

Fax: 0512-259-7553

Email: devlina[AT]

Birds at IIT Kanpur
Information for School Children
IITK Radio
Counseling Service