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Vedika Saxena

Assistant Professor, Finance and Accounting

Dr. Vedika Saxena has completed her PhD. in Finance and Accounting Area from Indian Institute of Management (IIM) Lucknow. She holds a Director’s Medal for her exceptional academic performance in both graduation (B. Com Hons.) and post-graduation (MBA) at Dayalbagh Educational Institute, Agra. She was also awarded the President’s Medal for securing the highest-grade points in all the undergraduate courses of the institute.

Her research interests areas include corporate cash holdings, intercorporate investments, and MSME financing. She has published her research works in reputed journals such as Asian Review of Accounting, Managerial Finance, and International Journal of Financial Studies. Her research has received recognition, winning the “Best Paper Awards” at national and international conferences.

Ph.D. (Finance & Accounting), IIM Lucknow
B.Com(Hons.) with Integrated MBA, Dayalbagh Educational Institute, Agra


  • Saxena, V. & Sahoo, S. (2023). Corporate Cash Holdings and Share Buyback: Evidence from Emerging Markets. Journal of Emerging Market Finance, (ABS,ABDC,SCI/SSCI/ESCI), DOI : https://doi.org/10.1177/09726527231184555
  • Saxena, V. & Sahoo, S. (2022). Impact of banking relationships and ownership concentration on corporate cash holdings in India. Asian Review of Accounting, 30(4), 465-489. (ABS,ABDC,SCI/SSCI/ESCI,Scopus), DOI : 10.1108/ARA-01-2022- 0014/full/htm
  • Saxena, V. & Sahoo, S. (2022). What Drives Corporate Cash Holdings in MSMEs? Evidence from India. Managerial Finance, 49(2), 291-314. (ABS,ABDC,SCI/SSCI/ESCI,Scopus), DOI : 10.1108/MF-04-2022-0184
  • Saxena, V. & Sahoo, S. (2022). Share repurchase: a review of the literature. International Journal of Indian Culture and Business Management, 25(1), 38-71. (ABS,SCI/SSCI/ESCI), DOI : 10.1504/IJICBM.2022.120918
  • Saxena, V. & Sahoo, S. (2020). Determinants of Intercorporate Investments: An Empirical Investigation of Indian Firms. International Journal of Financial Studies, 9(1), 1-25. (ABDC,SCI/SSCI/ESCI,Scopus), DOI : 10.3390/ijfs9010001

1. Financial Accounting

2. Cost and Management Accounting

1. Research paper titled "What drives Corporate Cash holdings in MSMEs?: Evidence from India" awarded Bronze Shield for commendable research paper in the finance category at ICAI International Research Awards 2023.

2. Best Paper Award in International Conference on Management of MSMEs (ICMM 2022) held at IIM Amritsar.

3. Best Paper Award in FORE International Finance Conference (FIFC 2022) at Fore School of Management, New Delhi.

4. Director's Medal for scoring highest grade points (Institute Rank 1) in MBA

5. Junior Research Fellowship (Management), University Grants Commission, 2018

6. President’s Medal for securing highest grade points in all undergraduate programmes

7. Director's Medal for securing highest grade points (Institute Rank-1) in B. Com (Hons.)

8. Young System Scientist Award for Best Paper Presentation in PARITANTRA 2016, Tenth Indian Students System Conference organized by DEI-Dayalbagh Chapter of Systems Society of India.

9. Indian School Certificate (ISC) Board School Topper (Commerce Stream).