Associate Professor, Department of Management
Dr. Smita Ray holds a Ph.D. in Finance from the Department of Commerce & Management, Ravenshaw University, Odisha, awarded in 2016. Her doctoral thesis focused on "Capital Structure in the Indian Corporate Sector: An In-Depth Study", reflecting her strong analytical and research capabilities in the field of financial management.
She earned her MBA with a specialization in Finance from Biju Patnaik University of Technology (BPUT), Rourkela, Odisha, in 2009. In addition, she completed a Post Graduate Diploma in Human Resource Management (HRM) from the Directorate of Distance & Continuing Education (DDCE), Utkal University, in 2010, showcasing her interdisciplinary proficiency in both finance and human resource domains.
Dr. Ray served as a Senior Research Associate at the Case Research Centre (CRC), ICFAI Business School, Hyderabad, from January 2018 to May 2024. During her tenure, she was actively involved in developing case studies and research publications focused on contemporary issues in business and finance.
With over 10 years of research experience, Dr. Smita Ray has consistently contributed to academic and applied finance through research, case development, and thought leadership. Her expertise lies in corporate finance, capital structure, and financial decision-making within Indian businesses.
Date of Joining : 11.12.2024
Date of Birth :
Academic : 25 YEARS +
| Course | Specialization | Year | University Details | Class/ Division | Duration |
|---|---|---|---|---|---|
| PhD | Finance - "Capital Structure in Indian Corporate Sector: An In – Depth Study" | 2016 | Department of Commerce & Management, Ravenshaw University, Odisha | - | - |
| Masters of Business Administration | Finance | 2009 | Biju Pattnaik University & Technology (BPUT), Rourkela, Odisha | First | 2 years |
| P.G. Diploma | Human Resource Management(HRM)-. | 2010 | Directorate of Distance &Continuing Education (DDCE), Utkal University, | First | 3 years |
Dr. Smita Ray, Dr. Debajani Sahoo, (2024), Turning it Green’ with Patagonia: A
sustainable Branding Strategy” IIM Rohtak Case Repository.
Dr. Smita Ray, Dr. Debajani Sahoo, (2023), “Metaverse in Banking: An Initiative for
Banking Transformation from Emerging Country Prospective,” Academy of
Marketing Studies Journal, ABDC Journal.
Smita Ray, Sanjib Dutta, (2023), “Amazon Buyback & Stock Split,” Case Research
Centre, IBS.
Smita Ray, Sanjib Dutta, (2023), “InMobi – An Indian Mobile Advertising Unicorn’s
Growth Strategies,” Case Research Centre, IBS.
Smita Ray, Manish Agarwal (2023), “Zepto: Redefining the Indian Online Grocery
Market,” Case Research Centre, IBS.
Smita Ray, Manish Agarwal (2023), “Reliance Foreign Currency bond Issue,” Case
Research Centre, IBS.
Smita Ray, Manish Agarwal (2023), “Firstcry.com- revamping The Babycare
Products Market of India,” Case Research Centre, IBS.
Dr. Smita Ray, Dr. Krishna Kavitha Acharya, (2021), “Success Story of HDFC bank,”
Management Review, Srusti Academy of Management, Registered with Google Scholar,
ISSN/ 0974-4274, Vol.XIV, Issue -1, pp.77-84.
Smita Ray, Manish Agarwal (2022), “Wise Direct Listing,” Case Research Centre, IBS.
Smita Ray, Manish Agarwal (2022), “Johnson & Johnson Spin – off,” Case Research
Centre, IBS.
Smita Ray, Manish Agarwal (2022), “Chai Sutta Bar- An Entrepreneurial Success
Story,” Case Research Centre, IBS.
Smita Ray, Manish Agarwal, (2021), “Bonus Issue by Indian Energy Exchange,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “Zappos.com: Delivering a Superior Customer
Experience,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “HDFC Bank’s Digital Transformational Journey,”
Case Research Centre, IBS.
Smita Ray, Manish Agarwal, (2021), “Stock Split: A Case of IRCTC,” Case Research
Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “EM3 Agri Services: Providing Farm Equipment on
Hire to the Farmers,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “Ford Motor Company Bids Goodbye to India,”
Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “The Evergrande Crisis in China,” Case Research
Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “Linc Pens: Marketing Strategies to Survive the
Covid-19 Pandemic,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “Subway’s Bread Loses ‘Staple Food’ Status in
Ireland,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “Lijjat Papad: Balancing Lives and Livelihood of
Workers during COVID-19 Pandemic,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “Mondelez India Foods in Troubled Waters,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “Chime: Leading the Pack of Neobanks in the US,”
Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “KFC India’s Digital Marketing Campaigns,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “P& G’s ‘Share the Care’ Parental Leave Policy,”
Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2021), “N26: Europe’s Leading Challenger Bank,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “Swiggy’s Starhunt Campaign,” Case Research
Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “WOW! Momo: An Entrepreneurial Success Story,”
Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “Wipro Limited’s Buyback of Shares in 2020,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “The Journey from Vodafone Idea to Vi,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “‘Biryani by Kilo’ – A Biryani Delivery Startup’s
Success Story” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), ““Design Thinking at BBVA”,” Case Research
Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), ““Women Leading the Fight against COVID-19
Pandemic: Lessons from Finland, Iceland, and Norway”,” Case Research Centre,
IBS.
Smita Ray, Sanjib Dutta, (2020), ““Scotiabank: Supporting Customers and
Employees Navigate through the COVID-19 Crisis”,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “Managing COVID-19: The Odisha Mode,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “Kerala’s ‘Shailaja Teacher’ – Leading through
Crises,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “Security and Privacy Issues at Zoom and its
Response,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “OYO Charts out New Strategic Objectives for
2020: Sacks Employees,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “SEBI and its Role in Prohibiting Insider Trading,”
Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2020), “IDFC First Bank’s Technology-led Banking
Services and Digital Media Promotion,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2019), “iD Fresh – An Entrepreneurial Success Story,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2019), “Dabur’s Digital Marketing Initiatives,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2019), “MakeMytrip’s Marketing Campaigns,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2019), “MARUTI’s Digital Journey,” Case Research Centre,
IBS.
Smita Ray, Sanjib Dutta, (2019), “Venmo: A Mobile Payment Service Targeted at
Millennials in the US,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2019), “Monzo Bank: A Digital, Mobile-only Bank in the
UK,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2019) “Revolut: Britain’s First Digital-only Bank Unicorn,”
Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2019) “Atom Bank: The “Next Generation” Digital
Challenger Bank in UK,” Case Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2019) “FlixMobility: Shaping the Future of Mobility,” Case
Research Centre, IBS.
Smita Ray, Sanjib Dutta, (2019) “Dividend Policy at Hindustan Petroleum
Corporation Limited (HPCL)” Case Research Centre, IBS.
Smita Ray, V. Namratha Prasad, (2018) “Flipkart’s Automation – A step towards
Automated Supply Chain Management.” Case Research Centre, IBS.
Smita Ray, V. Namratha Prasad. (2018) “The Message Strategy behind CEAT’s ‘Be
Idiot Safe’ Campaign.” Case Research Centre, IBS.
Smita Ray, V. Namratha Prasad, (2018) “Failure of Vitamin Shoppe’s Reinvention.”
Case Research Centre, IBS.
Smita Ray, V. Namratha Prasad. (2018) “Lactalis’ Product Recall.” Case Research
Centre, IBS.
Smita Ray, (2018). “Corporate Governance In Banking Sector: A Case study of
ICICI Bank & Punjab National Bank.” Management Review, Institute of
Professional Studies and Research (IPSAR), ISSN/0976-2027, (under review).
Smita Ray, (2013). “Capital Structure analysis of Indian IT companies with special
reference to HCL, INFOSYS, WIPRO & TCS.” Management Review, Institute of
Professional Studies and Research (IPSAR), ISSN/0976-2027, Vol.11, No-4, pp.110-116.
Smita Ray, (2012). K.K. Das “A Study of Solvency in Indian Steel sector with special
reference to Tata Iron & Steel Company Ltd.” Kushagra International Management
Review (ISSN-2250-0960), Vol.118, pp.122-128.