Shyam Bhandari


Baker Hall 229
(309) 677-2269

Ph.D., Finance and Applied Econometrics, University of Iowa
M.B.A, Financial Management, Miami of Ohio
M.S., Statistics, Rajasthan University, Jaipur, India
B.S., Mathematics and Chemistry, Jaswant College, Jodhpur, India


Dr. Shyam B. Bhandari joined Bradley University in 1976. He has taught a variety of courses in finance, quantitative methods and international business. He has been the recipient of numerous awards and grants. He is a past president and Program Chair of the Academy of Finance. He has regularly presented research papers at national and regional professional meetings and published articles in scholarly journals. Shyam was involved in curriculum development in business at Samara State Aerospace University, Samara, Russia. He is listed in Who’s Who in American Education (Third edition) and Who’s Who in The Midwest (22nd edition).  His hobbies and interests include gardening, music, contract bridge, cricket, and current issues.


Shyam has taught a variety of courses at both the graduate and undergraduate levels and in the Honors program. He emphasizes problem solving and decision-making. His classroom activity is a blend of lectures, projects, and cases.

Courses currently teaching:

  • FIN 220 Personal Finance
  • FIN 322 Business Finance
  • FIN 424 Capital Budgeting
  • FIN 624 Capital Budgeting (MBA)


Shyam’s research interests are in agency theory, capital budgeting techniques, bond rating, multivariate financial and temporal valuation models. His research has appeared in American Business Review, American Journal of Management, American Journal of Small Business, Financial Management, Financial Practice and Education, Journal of the Academy of Finance, Journal of Business Research, Journal of Business Ethics, Journal of Business and Behavioral Sciences, Journal of Contemporary Business, Journal of Cost Analysis, Journal of Financial Education, Journal of Small Business, Managerial Finance and Journal of Leadership, Accountability and Ethics. 

Selected Peer-Reviewed Journal Articles in the Last Five Years

Bhandari, S. B. (2014). Two Discriminant Analysis Models of Predicting Business Failure: A Contrast of the Most Recent with the First Model. American Journal of Management, 14(3), 2014(3), 11-19. 

Bhandari, S. B., Iyer, R. (2013). Predicting Business Failure Using Cash Flow Statement Based Measures. Managerial Finance, 2013(39/7), 667-676.

Bhandari, S. B. (2011). Ethical Dilemma of Nonprofits in the Agency Theory Framework. Journal of Leadership, Accountability and Ethics, 8(2), 33-40. 

Peer Reviewed Proceedings and Presentations in the Last Five Years

"Operating Cash Flow Versus Free Cash Flow: An Assessment of Their Usefulness in Financial Analysis." Presented at the Academy of Finance Meeting, Chicago, Illinois. (March, 2015).

"A Critique of Two Models of Predicting Business Failure: The Oldest Versus The Newest." Presented at the Academy of Finance Meeting in Chicago, Illinois. (March, 2014).

Bhandari, S. B., MBAA International, "Logistic Regression, Cash Flow Measures and Prediction of Business Failure," MBAA International, Chicago, Illinois. (March, 2013).

Bhandari, S. B., Academy of Finance, "A Discriminant Analysis Model for Predicting Business Failures Using Cash Flow Statement Based Measures," MBAA International, Chicago, Illinois. (March, 2012).

Leadership in Academic Societies

Academy of International Business, 1996-1999
Academy of Finance, 1992 - present
American Finance Association, 1974 - 1994
Eastern Finance Association, 1982 - 1985, 1990 - 1995
Financial Education Association, 1982 - present
Financial Management Association, 1978 - present
Midwest Business Administration Association, 1986 - present
Midwest Finance Association, 1976 - 1998
Southern Finance Association, 1978 - 1987


Services to Professional Organizations, University and Community

  • Board Member, Spartan Health Sciences University, St. Lucia, July 2009 - present
  • Board of Directors of Peoria Area Friends of International Students (PAFIS), 1992 - 2016
  • Chairperson, Scholarship Committee of PAFIS, 1993 - 2015
  • Founding member of Hindu Heritage Center (HHC)
  • Past President of India Association of Peoria (IAP)
  • General Education Subcommittee on Implementation, 2012 - 2014
  • Bradley University Resources Committee, 2011 - 2017, Co-Chair, 2012 - 2013
  • Member, Board of Directors, Academy of Finance, 2012 - 2017
  • Member, Foster College of Business's Dean Search Committee, 2012 - 2014
  • Chairperson, Renewal, Promotion and Tenure Committee of the Department, 1990 - 2010
  • Member, Contractual Arrangement Committee, 2007 - 2010
  • Member, Retirement Advisory Committee, 2008 - 2011
  • Member, University Senate, 2007 - 2011
  • Faculty Advisor, Bradley Vegetarian Club, 1996 - present
  • Faculty Advisor, Bradley Hindu Youth Society, 1997 - present
  • Faculty Advisor, India Student Association, 1980 - present
  • President, Midwest Academy of Finance and Insurance, 1996 - 1997
  • President-Elect and Program Chair, Midwest Academy of Finance and Insurance, 1995 - 1996
  • Secretary, Midwest Academy of Finance and Insurance, 1994 - 1995
  • Member, Advisory Council of Midwest Business Administration Association, 1995 - 2001
  • Faculty Advisor, Financial Management Association, Student Chapter, 1992 - 1994
  • Board of Directors, Peoria Area Friends of International Students, 1996 - 2016
  • Member, Review Board, Entrepreneurship - Theory and Practice, 1988 - 1992
  • Member, Review Board, American Journal of Small Business, 1986 - 1988