Daniel C. Indro

Daniel Indro headshot
Associate Professor of Finance, Management
Main Building, 200 J

Daniel C. Indro received his MBA in finance and Ph.D. in finance with mathematics and economics minors from the Kelley School of Business at Indiana University in Bloomington. He obtained his undergraduate degree in business from Widya Mandala Catholic University in Indonesia. Dr. Indro, along with three of his friends, founded a company and became the Managing Director and Chief Financial Officer. Before joining Penn State, Dr. Indro taught at the Kelley School of Business at Indiana University in Bloomington and Kent State University. At both Kent State and Penn State Great Valley, Dr. Indro introduced students to the Economic Value Added (EVA®) methodology, a valuation tool that many companies use to manage shareholder value. Dr. Indro has been a finalist several times for Kent State University’s MBA Outstanding Professor of the Year Award and for Penn State Great Valley’s Teaching Excellence Award. He was the recipient of the 2004 Penn State Great Valley’s Teaching Excellence Award. Dr. Indro’s research focuses on the equity offerings of foreign companies in the US, bankruptcy, joint ventures, and behavioral finance issues. The J. William Fulbright Foreign Scholarship Board selected Dr. Indro as a 2013-2014 Fulbright Senior Scholar in Taiwan.


2013-2014 Fulbright Senior Scholar Award, The J. William Fulbright Foundation

2012-2013 Diversity Recognition Award, Penn State Great Valley School of Graduate Professional Studies, The Pennsylvania State University

Selected Publications

Stewart R. Miller, Daniel C. Indro, Malika Richards and Daniel H.M. Chng, “Financial Implications of Local and Nonlocal Rival Isomorphism: A Signaling Paradox,” Journal of Management, Vol. 39, No. 7, 2013, 1979-2008.

Mason A. Carpenter, Daniel C. Indro, Stewart R. Miller and Malika Richards, “CEO Stock-Based Pay, Home-Country Risk and Foreign Firms’ Capital Acquisition in the U.S. Market,” Corporate Governance: An International Review, Vol. 18, No. 6, 2010, 496-510.

  • B.S., Business, Widya Mandala Catholic University in Indonesia
  • MBA, Finance, Indiana University
  • Ph.D., Finance, Indiana University