People in SFiC

Based in the College of Social Sciences at the University of Birmingham, the Sustainable Finance Innovation Centre (SFiC) is the first interdisciplinary research centre to focus on financial technology and sustainable financial innovation.

Core staff

Professor Hisham Farag

Director, Sustainable Financial Innovation Centre (SFiC), Head of Research, Birmingham Business School

Telephone: +44 (0)121 414 3101
Email: h.farag@bham.ac.uk

More about Hisham

Hisham Farag is a Professor of Finance, Head of Research at Birmingham Business School, and Director of the Sustainable Financial Innovation Research Centre (SFiC) at the University of Birmingham. His current research areas are Sustainable Finance, FinTech, Corporate Finance and Corporate Governance, in which he published widely in internationally renowned journals e.g., JFQA, JCF, BJM, JEBO, JBE, among others. He holds a PhD in Finance from the University of Birmingham, UK. Hisham is a qualified Non-Executive Director and a member of the Investments sub-committee at the University of Birmingham. He has extensive industry experience as a financial consultant and a successful track record in attracting research funding from reputable institutions. Hisham is the Editor-in-Chief of Journal of Sustainable Finance & Investments and serves as an Associate Editor of the European Journal of Finance, Review of Corporate Finance, International Review of Economics & Finance, International Journal of Finance & Economics, Research in International Business & Finance and Business Ethics: the Environment & Responsibility.

View Hisham's full profile

 Hisham Farag


Professor David Dickinson

The Department of Economics, Birmingham Business School

Telephone: +44 (0)121 414 5027
Email: d.g.dickinson@bham.ac.uk

More about David

David Dickinson is Joint Director and Social Science Lead for the Nankai Birmingham Joint Research Institute. This has been formed in 2018 to undertake interdisciplinary research on Green Economy and Sustainable Development. In addition to bringing together researchers in China and the UK, the Centre also encourages multi-disciplinary approaches to the solutions for Environmental Pollution. David has spent most of his academic career at Birmingham, taking of the roles as Head of the Department of Economics and Dean of the Business School during that time.. He has been a visiting Professor at Universities in France, Portugal, Japan, Thailand, China, Russia and Australia.

David has research interests in Banking and Financial Markets and has been undertaking research on China over the last 15 years. His current research focusses on the role of financial markets in developing the Green Economy. He has been a consultant for the World Bank and GATT for a range of projects. He obtained his from undergraduate degree from the University of Manchester and a PhD from the University of Sheffield.

View David's full profile

David Dickinson


Professor Paul Jackson

Director of Research, College of Social Sciences

Telephone: +44 (0)121 414 7293
Email: p.b.jackson@bham.ac.uk

More about Paul

Paul Jackson is a political economist working predominantly on conflict and post-conflict reconstruction. A core area of interest is decentralisation and governance and it was his extensive experience in Sierra Leone immediately following the war that led him into the area of conflict analysis and security sector reform. He was Director of the GFN-SSR and is currently an advisor to the Governance and Social Development Resource Centre which engages him in wide ranging policy discussion with donor agencies engaged in these activities, including various European Governments, the EU, the UN and the World Bank as well as the UK Government.

Paul is the Programme Leader on the Sustainable Development Programme for the British Academy and a Member of the Advisory Group on the Partnership for Conflict, Crime & Security Research Partnership for Conflict, Crime & Security Research.

View Paul's full profile

Photo of Paul Jackson


Professor Douglas Cumming

DeSantis Distinguished Professor of Finance and Entrepreneurship

Telephone: +1-561-562-0764
Email: Douglas.Cumming@gmail.com

More about Douglas

Douglas Cumming, J.D., Ph.D., CFA, is the DeSantis Distinguished Professor of Finance and Entrepreneurship at the College of Business, Florida Atlantic University, and a Visiting Professor of Finance at Birmingham Business School, University of Birmingham. Douglas has published over 180 articles in leading refereed academic journals in finance, management, and law and economics, such as the Academy of Management JournalJournal of Financial EconomicsReview of Financial Studies, Journal of Financial and Quantitative Analysis, and Journal of International Business Studies, and has been cited over 15,000 times according to Google Scholar.  He is the Editor-in-Chief of the British Journal of Management (2020-2022) and the Journal of Corporate Finance (2018-2020). He is the Founding Editor of Annals of Corporate Governance, and a former Co-Editor of Finance Research Letters and Entrepreneurship Theory and Practice.

His most recent book is Crowdfunding: Fundamental Cases, Facts, and Insights (Elsevier Academic Press, 2019) complete with  companion materials.  He is the coauthor of Venture Capital and Private Equity Contracting (Elsevier Academic Press, 2nd Edition, 2013), and Hedge Fund Structure, Regulation and Performance around the World (Oxford University Press, 2013).  He is the Editor of the Oxford Handbook of Entrepreneurial Finance (2013), the Oxford Handbook of Private Equity (2013), the Oxford Handbook of Venture Capital (2013), the Oxford Handbook of Sovereign Wealth Funds (2018), the Oxford Handbook of IPOs (2019), the Research Handbook of Finance and Sustainability (2018), and the Research Handbook of Investing in the Triple Bottom Line (2019).  Douglas’ work has been reviewed in numerous media outlets, including The Economist, The New York Times, The Chicago Tribune, the Wall Street Journal, the Globe and Mail, Canadian Business, the National Post, and The New Yorker.  

View Douglas' full profile

douglas cumming


Professor Nick Rowbottom

Professor of Accounting and Corporate Reporting 

Telephone:+44 (0) 121 414 6676
Email: n.rowbottom@bham.ac.uk

More about Nick

Nick is a Professor of Accounting and Corporate Reporting at the University of Birmingham whose research focuses on how extensions and innovations in the corporate reporting measurement and communication model are shaped, constructed and implemented. Through publications, funding, and collaborations with regulators, standard-setters, practitioners and firms, Nick is an active researcher in the fields of ‘sustainability’ reporting and digital corporate reporting. Nick is also a member of the UK Government’s Sustainability Disclosure Technical Advisory Committee advising the Department of Business & Trade on future sustainability disclosure policy and standards, and an Associate of the Birmingham Business School’s Centre for Responsible Business.

View Nick's full profile

 

Nick Rowbottom

Dr Malika Hamadi

Senior Lecturer in Finance, Birmingham Business School

Telephone: +44 (0)121 414 2294
Email: m.hamadi@bham.ac.uk

More about Malika

Dr. Malika Hamadi is a Senior Lecturer in Finance. Malika holds a Ph.D. in Economics from the Catholic University of Louvain in Belgium. She previously held posts at Surrey Business School, Leicester School of Business, the Department of Business and Economics - University of Sassari, Italy, and the Luxembourg School of Finance - University of Luxembourg. Her research is in corporate finance, corporate governance, banking/microfinance. Her work has been published in top leading journals such as the Journal of Money, Credit, and Banking, the Journal of Corporate Finance, the Journal of Banking and Finance, the Journal of Empirical Finance among other journals.

View Malika's full profile

Malika Hamadi


Dr Sofia Johan

Assistant Professor of Finance, Florida Atlantic University

Telephone: (561) 297-4970
Email: sjohan@fau.edu

More about Sofia

Sofia Johan, LL.B, LL.M. in International Economic Law, Ph.D. in Law and Economics, is Assistant Professor of Finance and Fellow of the Phil Smith Center for Free Enterprise at Florida Atlantic University, USA. She is also the Extramural Research Fellow at the Tilburg Law and Economics Centre (TILEC) in The Netherlands. She is Associate Editor of the British Journal of Management, on the Editorial Board of Finance Research Letters and will be Co-Editor of Venture Capital: An International Journal of Entrepreneurial Finance in January 2021.

Her research is focused on law and finance, sovereign wealth funds, market surveillance, corporate governance, alternative investments (including but not limited to hedge funds, venture capital, private equity, real estate investment trusts and IPOs) and alternative finance (including but not limited to crowdfunding, peer to peer lending and cryptocurrencies). Her research has been published in the American Law and Economics Review, Journal of Financial Economics, Academy of Management Journal, Journal of Banking and Finance, European Financial Management, European Economic Review, and Entrepreneurship Theory and Practice, among other journals. She has co-authored the books titled Crowdfunding: Fundamental Cases, Facts and Insights; Venture Capital and Private Equity Contracting: An International Perspective; and Hedge Fund Structure, Regulation and Performance Around the World. She has co-edited the book Handbook of IPOs, published by Oxford University Press and is in the process of working an another, Handbook of Hedge Funds, also to be published by Oxford University Press. She has also consulted for a variety of governmental and private organizations in Canada, Australasia and Europe and is on the advisory boards of a select few start-up firms.

View Sofia’s full profile

Sofia Johan

Dr Santosh Koirala

Lecturer in Finance, Birmingham Business School

Telephone: +44 (0)121 414 5983
Email: s.koirala@bham.ac.uk

More about Santosh

Santosh Koirala is a Lecturer (Assistant Professor) in Finance. He holds a PhD in Finance from the University of Strathclyde. His research interest lies in corporate risk-taking, investment decisions and M&As with a focus on law and regulatory interventions. Santosh was a commercial banker (3 years) and later worked in the public sector (6 years) before joining academia. He also specializes on Emerging Market Finance. His current research interests include issues in Fintech, Financial Intermediation and Climate Finance. He welcomes enquiries on research consulting, policy moderation, or PhD supervision.

View Santosh’s full profile

Santosh Koirala


Dr Hui Li

Lecturer in Finance, Birmingham Business School

Telephone: +44 (0)121 414 2294
Email: h.li.14@bham.ac.uk

More about Hui

Hui Li is a Lecturer in Finance at the University of Birmingham. She is mainly interested in research in various topics on security issuance and banking. Her recently publications include journal articles in Journal of Corporate Finance, Journal of Financial Stability, Journal of Journal of International Money and Finance, and International Review of Financial Analysis.

View Hui’s full profile

Hui Li


Dr Huw Macartney

Senior Lecturer in Political Economy, School of Government

Email: h.macartney@bham.ac.uk

More about Huw

Dr Huw Macartney is a Senior Lecturer in Political Economy. He is the author and co-author of 5 books and 18 journal articles or chapters on banking and financial market regulation. His most recent research focused on The Bank Culture Debate (Oxford University Press) and he is currently working on a British Academy funded project on fintech in retail banking and corporate bond markets.

View Huw's full profile

Huw MaCartney


Dr Anandadeep Mandal 

Lecturer in Finance, Birmingham Business School

Telephone: +44 (0)121 414 9211
Email: a.mandal@bham.ac.uk

More about Anandadeep

Anandadeep Mandal is a lecturer in Finance and the Programme Director of MSc Financial Technology (upcoming) at Birmingham Business School. He holds a doctorate degree from Cranfield University on Probability Distribution Fitting for which he received the Best Doctoral Thesis Award at Cranfield University in 2016.  His research underpins a desire to learn, understand and explain the complex dynamics of financial markets and their behaviour using applied mathematics. His recent work studies pricing mechanisms of commodities and weather derivatives in Brazil and developing economies. He has received research funding from the ESRC (seed corn) and the Malaysian government.

View Anandadeep's full profile

Anandadeep Mandal


Dr Danny McGowan

Reader in Finance, Durham Business School

Email: danny.mcgowan@durham.ac.uk

More about Danny

Danny McGowan is a Reader in Finance and the Director of Postgraduate Research Programmes at Birmingham Business School. He holds a PhD in Economics from the University of Nottingham. His research interest lie in applied microeconomics with a focus on banking and financial intermediation. His recent work studies connections between the law and and bank conduct. Dr McGowan's research has appeared in leading academic journals including the Review of Financial Studies, Journal of Financial and Quantitative Analysis, and Journal of Financial Intermediation. He has received research funding from the ESRC, British Academy, and the Leverhulme Trust.

View Danny's full profile

Danny McGowan

Dr Biwesh Neupane

Senior Lecturer in Finance, University of Strathclyde

 

More about Biwesh

Biwesh Neupane is a Senior Lecturer in Finance (Strathclyde Chancellor's Fellow in Sustainable Finance) at the Department of Accounting Finance at the University of Strathclyde. Previously, he was an Assistant Professor of Finance at the Department of Finance at the University of Birmingham and a Lecturer at the University of Greenwich. He obtained a Ph.D. in finance from the University of Strathclyde, Glasgow. His interests include sustainable finance, climate finance, international investments, emerging markets, corporate governance, corporate bond markets, and initial public offerings. His research has appeared in leading academic journals, including the Journal of Corporate Finance, the British Journal of Management, the Journal of International Money and Finance, and European Financial Management. His commentaries and views are also published in outlets such as the Academy of Social Sciences, Economic Observatory, Ideas for India, and Tax and Transfer Policy Institute. He has received a competitive research grant from the National Stock Exchange of India (NSE) under the NSE-IGIDR Corporate Governance Research Initiative 2017 and a travel grant to present a research paper in Mumbai, India.

Biwesh Neupane

Dr Francesco Pierangeli

Assistant Professor of Finance, Birimingham Business School

Email: f.pierangeli@bham.ac.uk

More about Francesco

Francesco is Assistant Professor of Finance at Birmingham Business School working on the integration of blockchain into socio-economic processes. His research interests include Game Theory, Economic Development and Innovation in Financial Markets. He is a research associate at the UCL Centre for Blockchain Technologies. Before joining academia, Francesco worked at J.P. Morgan and UBS.

 

Francesco Pierangeli

Dr Eilnaz Kashefi Pour

Senior Lecturer in Finance, Birmingham Business School

Email: e.kashefipour@bham.ac.uk

More about Eilnaz

Eilnaz is a Senior Lecturer in Finance and Programme Director of MSc Financial Management at Birmingham Business School. She has her PhD in Finance from City University Business School. Her current research interests are empirical issues in corporate finance with a special focus on capital structure, debt maturity, IPOs, and delistings. Her research has been published in leading academic journals including the British Journal of Management, Journal of Banking and Finance, and Journal of International Financial Markets, Institutions and Money. She is also a member of the American Finance Association (AFA), Financial Management Association (FMA), European Finance Association (EFA) and European Financial Management Association (EFMA).

View Eilnaz's full profile

eilnaz-kashefi-pour


Dr Sandeep Rao

Assistant Professor of Finance, DCU Business School

More about Sandeep

Dr Sandeep Rao is an Associate Professor and the Programme Chair of the MSc in Finance at DCU Business School, Dublin City University, Ireland. His research focus in Sustainable finance and impact of climate change on corporations and financial markets. He has published in ABS-ranked journals, including Journal of Corporate Finance, the British Journal of Management, Annals of Operations Research, Energy Economics and Economic Letters, among others. Currently, he is the Associate Editor of The Review of Accounting and Finance, Journal of Sustainable Finance and Investments, and Journal of Risk Finance. He is also a member of several international research centres that include, The Centre for Research on Economic Relations (CER, Sweden), the DCU Climate and Society, the National Centre for Family Business (NFCB) Ireland, Anti-corruption Research Centre and the Ireland India Institute. He is a PhD in Finance from the University of Strathclyde under the Commonwealth Scholarship, funded by the Government of the U.K. for Doctoral program. He is a member of the American Finance Association (AFA), Financial Management Association (FMA) and The Indian Econometric Society (TIES).

Sandeep Rao

Dr Onur Kemal Tosun

Assistant Professor of Finance, Cardiff Business School

More about Onur

Dr Onur Kemal Tosun holds a PhD majoring in Finance and minoring in Economics from Robert H. Smith School of Business at the University of Maryland. He is an Associate Professor of Finance in Cardiff Business School. Dr. Onur Kemal Tosun is a Senior Fellow of Higher Education Academy of UK and the Director of Cardiff Sustainable Finance Research Group. His research focuses on corporate governance, corporate social responsibility, and institutional investors. His academic work has been published in British Journal of Management, Financial Management, European Financial Management, European Journal of Finance, Financial Review, International Review of Financial Analysis, Journal of International Financial Markets, Institutions and Money, Review of Quantitative Finance and Accounting, Finance Research Letters, Economics Letters and discussed in the media including Financial Times, Business Standard, Money Radio, Global Radio, Capital FM, Asharq News TV – Bloomberg, NYU School of Law Blog, Harvard Law School Forum, The Columbia Law School Blog, among others. He is an Associate Editor of Finance Research Letters, International Review of Economics and Finance, Journal of Sustainable Finance & Investment, and conduct reviews regularly for other journals in the field. 

Onur Kemal Tosun

Dr Yaopeng Wang

More about Yaopeng

Yaopeng Wang is a Lecturer in Finance at the Business School, University of Shanghai for Science and Technology. He holds a doctorate degree from the University of Birmingham in 2021.

His research underpins corporate innovation, corporate culture and ESG activities. His research has appeared in well-known academic journals, including the British Journal of Management, European Financial Management and Global Environmental Changes. He is also a member of the American Finance Association (AFA), International Corporate Governance Society (ICGS) and European Financial Management Association (EFMA).

yaopeng wang

Dr Xiaofei Xing

Lecturer in Finance, Birmingham Business School

Telephone: +44 (0) 121 414 6011
Email: x.xing@bham.ac.uk

More about Xiaofei

Xiaofei Xing joined the University of Birmingham in April 2017 as a Lecturer in Finance. He holds a PhD in Finance from Durham University. His research interests lie in corporate finance and behavioural corporate finance, specialising in mergers and acquisitions. 

View Xiaofei’s full profile

Xiaofei Xing

Our PhD students

Sara Al-Rasheed 

Sara Al Rasheed is a first year PhD student in Finance Department at University of Birmingham. She holds master’s degree in Finance from Cardiff University with academic distinction. Her current research area is Sustainable Finance.

Sara Al Rasheed is a first year PhD student in Finance Department at University of Birmingham. She holds master’s degree in Finance from Cardiff University with academic distinction. Her current research area is Sustainable Finance.

Sara Al-Rasheed

Our industry partners

The Sustainable Financial Innovation Research Centre (SFiC) works collaboratively with a variety of organisations, policy-makers, financial institutions, corporations and academic institutions to bring about change. Here are some of our key partners:

Whitecap Consulting

Whitecap Consulting is a regionally focused strategy consulting firm with six UK offices including Birmingham, and works with regional, national and international clients to help design and deliver growth strategies. The firm operates across multiple sectors with strong experience in financial services, technology and FinTech. 

Find out more

Amplify

Amplify Trading was founded in 2009 to develop traders equipped to perform in the new era of global markets. Using technology to bridge the gap between theory and practice, our innovative approach to capital markets training is now used by many of the world’s largest financial firms to find and develop their next market leaders. 

Since 2009, Amplify Trading has built a team of traders to execute short-term macroeconomic strategies across different asset classes in the futures market. Their ethos is based on providing high-quality and structured training from the initial foundations to elite performance, helping them to identify talent and support further development of their traders.

Find out more 

Streets Consulting

Streets Consulting is a business development, marketing and communications consultancy supporting international financial services, technology and fast-growth organisations.We work with companies at many different stages of their corporate development, helping them grow their businesses, build their brands and communicate what they do and why it matters. We help CEOs, management teams, sales and communications specialists define and deliver integrated marketing and communications campaigns and provide the coaching necessary to become confident, compelling spokespeople.

Find out more 

Find out more about SFiC