Reena Aggarwal
McDonough School of Business
Georgetown University
“In her 39 years at the McDonough School of Business, Professor Aggarwal’s career has been marked by profound impact. Countries, corporations, and national and international financial organizations have sought out her expertise. She has strong relationships with current and former Georgetown students alike, including many alumni who are now CEOs and Partners at prominent institutions.
She demonstrates the utmost commitment to the undergraduate education program, deeply investing in students from the onset and for the long-term. Employing her expertise and vast network to support rising generations of leaders in finance exemplifies Aggarwal’s heart for students. I could not be more fortunate or humbled to call Professor Aggarwal my mentor and my friend.” – Hailey Walker, senior at Georgetown University
Reena Aggarwal, 67, has made a profound impact at the intersection of financial markets and policy, both through her rigorous, data-driven scholarship and her leadership as Founding Director of the Georgetown Psaros Center for Financial Markets and Policy.
In addition to her academic contributions, Dr. Aggarwal has served in several leadership roles at Georgetown University, including Vice Provost for Faculty, Interim Dean, and Deputy Dean of the McDonough School of Business. Beyond Georgetown, she has been a Visiting Professor of Finance at MIT’s Sloan School of Management, an Academic Fellow at the U.S. Securities and Exchange Commission, Visiting Research Scholar at the International Monetary Fund, a member of the World Economic Forum Global Agenda Council on the Future of Financing and Capital, a Fulbright Scholar to Brazil; and a Distinguished Scholar at the Reserve Bank of India’s CAFRAL.
Professor Aggarwal has been voted as the Outstanding Professor by Georgetown Executive MBA students, featured among the Favorite Professors of the “Best & Brightest” Executive MBAs by Poets & Quants, and named among MBA Outstanding Faculty in the BusinessWeek Guide to the Best Business Schools. She has also been honored with the Georgetown University President’s Scholar-Teacher award, Allan N. Nash Distinguished Doctoral Graduate Award from the University of Maryland, and the Distinguished Alumnus Award from BITS Pilani.
Dr. Aggarwal has provided strategic advice to financial institutions, stock exchanges, and securities commissions in several countries. She serves on the boards of several financial services firms.
BACKGROUND
At current institution since what year? 1986
Education: Ph.D. in Finance from the University of Maryland and M.M.S. from BITS Pilani, India
List of Undergraduate courses you teach: Business Financial Management and Sustainable Investing
TELL US ABOUT LIFE AS A BUSINESS SCHOOL PROFESSOR
I knew I wanted to be a business school professor when … While doing my Ph.D., I taught quite a lot, and I found it very satisfying. I also enjoyed doing research that had practical implications. In a business school, I can combine my passion for teaching finance and doing research on issues that are relevant for global businesses and policymakers.
What are you currently researching and what is the most significant discovery you’ve made from it? My research covers the areas of market microstructure, capital raising, and corporate governance. Why is it so difficult for small firms to raise capital? How can the microstructure of stock exchanges be modified to facilitate capital raising? What listing standards and regulations are needed? Serving on corporate boards matches nicely with my research. What are the differences in governance practices across countries, and does this matter from a valuation perspective? What role does regulation play and what role do markets play in bringing about best practices? Do global institutional investors export good governance? In addition to publishing in the best academic journals, I like to work on issues that are relevant to global financial markets and/or can help policymakers.
If I weren’t a business school professor, I’d be pursuing some other part of my current portfolio – in the policy/regulatory world, at a multilateral institution such as the IMF and World Bank, or in banking.
What do you think makes you stand out as a professor? The combination of being a teacher, a scholar, and having experience both in the real world and the policy world allows me to bring a unique perspective to the classroom. My teaching is not limited to the course and its content; I genuinely like to mentor students. Some of my former students are now very good friends. Many of them are extremely successful, and yet they trust me and still reach out for advice.
One word that describes my first time teaching: Intimidated – because I was almost the same age or even younger than many of the students I was teaching. I wasn’t sure whether they would take me seriously, but it all worked out just fine.
Here’s what I wish someone would’ve told me about being a business school professor: Academia provides flexibility, but you must be super disciplined and move with a sense of urgency in conducting research, because time flies. There is nothing constant about teaching; material evolves continuously, and you have to keep on top of new developments all the time.
Professor I most admire and why: Professor J. K. Mittal at BITS Pilani, my first finance professor, who piqued my interest in the subject. It is because of him that I switched from majoring in engineering to business. For me, this was the best educational decision, and it completely changed my path.
TEACHING BUSINESS SCHOOL STUDENTS
What do you enjoy most about teaching business students? I really enjoy when students visit me in my office, and I get to know more about their background, families, and aspirations. We professors can have a profound impact on our students, and I take this responsibility very seriously. One of the most rewarding moments is when my former students return to guest lecture – the tables turn, and now I learn from them. Seeing their growth and success reminds me why this profession is so rewarding.
What is most challenging? Students are juggling a lot – academics, clubs, internships, job searches, athletics, and family obligations. Sometimes they just can’t devote the time that they genuinely want to each one. They work so hard to try to balance it all.
In one word, describe your favorite type of student: Engaged
In one word, describe your least favorite type of student: Physically present but not engaged.
When it comes to grading, I think students would describe me as.. The course is difficult, but I learned a lot, and the exams and grading were fair.
LIFE OUTSIDE THE CLASSROOM
What are your hobbies? I love to spend time with my family and especially our grandchildren.
How will you spend your summer? Work, travel, family time, hopefully some golf (I am just a beginner).
Favorite place(s) to vacation: Place is less important to me than company; any place where we can have family and close friends get together. For this reason, I love destination weddings.
Favorite book(s): I am trying to understand more about AI and enjoyed reading two very different books: 1) The Worlds I See: Curiosity, Exploration, and Discovery at the Dawn of AI by Stanford Professor Dr. Fei-Fei Li, and 2) The Age of AI: And Our Human Future by Henry Kissinger, Eric Schmidt, and Daniel Huttenlocher.
What is currently your favorite movie and/or show and what is it about the film or program that you enjoy so much? Recently, I have watched several of Ken Burns’ documentaries, including The War and The Vietnam War, in order to better understand the history of our country.
What is your favorite type of music or artist(s) and why? Indian Bollywood music from the 1990s and 1980s.
THOUGHTS AND REFLECTIONS
If I had my way, the business school of the future would have much more of this- I wish students wouldn’t have to major in traditional disciplines such as finance, marketing, operations, but could major in issues that they are passionate about and that help address complex global challenges such as Global Health, Technological Transformation, and Financial Inequality. Students should easily be able to pick and choose courses and experiences from across the university. Fortunately, more of this is happening now.
In my opinion, companies and organizations today need to do a better job at … Letting students be students – giving them the time and space to explore college life and discover their true interests. Over the past few years, some aspects of the finance recruiting timeline have accelerated dramatically. Freshmen now feel the pressure to start preparing for interviews before they have even had time to settle into college, take basic courses, or explore what they genuinely want to study. Let’s give these 17- and 18-year-olds a little break.
I’m grateful for … Professionally, I am grateful to my alma mater, BITS Pilani, for seamlessly letting me transfer from engineering to management, and to Georgetown for the tremendous opportunities it has provided me. I am most grateful to my current and former students. It is a privilege to be able to play a small part in educating the next generation of principled leaders. I learn a lot about passion for helping others from our two children, who are both healthcare providers, and I am grateful for what they do with such dedication and empathy.
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