He has held many elected and appointed leadership positions in academia and in business, including; president of the Eastern Finance Association and the Northeast Ohio Financial Executives International.
[12][13] Finally, Raj Aggarwal's academic leadership is reflected in Hoshino, M., "An Interview with Professor Raj Aggarwal, Department Editor for JIBS",[14] and his business leadership was reflected in, "The Super CFO: Changing Roles of the CFO".
Aggarwal has been writing about this topic for many years, and has demonstrated that average levels of debt used by companies differ in various countries in Asia,[19] Europe,[20] and Latin America.
[31] Additionally, his research focused on countertrade opportunities that allow MNCs to take money out of restricted countries.
[33] A recent development in the evolution of multinational corporations (MNCs) is that they have started originating in emerging markets.
While traditional MNCs from the industrialized countries have used brand names and technology to overcome the liability of foreignness when they invest overseas, there is much interest in understanding how the new MNCs from the emerging economies overcome the liability of being foreign when they invest overseas.
Especially, how they overcome the liabilities incurred when investing overseas and this research has exposed specific dynamics of these entities.
[35] He has also modeled the business-government relations during the process of firm nationalization, which accompany the economic development of several nearly industrialized countries.
[36] He has also focused his research on the challenges that Western firms face because of the emergence of multinational corporations[37] from developing countries.