Contact Professor Sunil Poshakwale
- Tel: +44 (0) 1234 754404
- Email: sunil.poshakwale@cranfield.ac.uk
- ORCID
Background
Professor (Dr.) Sunil Poshakwale is a Professor of International Finance in the School of Management of Cranfield University, England since 2006. He was also an Adjunct Professor to the Graduate School of Business of the University of South Pacific, Fiji and Flame University, Oune, India. As a former Director of Centre for Research in Finance, he led the development of high quality industry relevant research. He has published over 50 research papers in top finance journals and has presented over 65 papers in international conferences and seminars all over the world. He has successfully supervised many PhD and DBA students who work in prestigious universities and financial services both in the UK and worldwide. Sunil was named as the Best Professor of Financial Management by Asia's Business School Awards and as one of the most influential 'Management Gurus' of Indian origin by Business India. He was named as one of the fifty top faces of Cranfield's 50th anniversary celebrations. ScholarGPS has recoignised him as a Top Scholar for his scholarly research contributions have placed him in the top 0.5% of all scholars worldwide.
Professor Sunil Poshakwale has wide-ranging consulting experience in the area of international finance, investments and governance matters. He has served as finance expert on several projects of international banks and financial institutions. Professor Sunil Poshakwale's industry led-research on 'Quality of Corporate Governance and Firm Performance' has been used by MAPFRE for launching a 'Good Governance Fund'. His earlier work on 'Gender Diversity' was used by March Gestion Fondos in developing their investment strategies. His work on 'Political Risk' was extensively used by Atradius. Well recognised for his finance expertise, he is regularly interviewed by print, radio and television media for his expert views on global finance. His views on global finance and economy are frquently broadcast on the TRT World.
Professor Sunil Poshakwale is an expert in international finance and emerging markets. He has published extensively in top finance journals including British Journal of Management, Journal of Banking and Finance, Journal of International Money and Finance, International Financial Markets, Institutions and Money, Journal of Business Finance and Accounting, International Review of Financial Analysis, Review of Quantitative Finance & Accounting, Global Finance Journal, Research in International Business and Finance, and Applied Financial Economics. His work on the Emerging Chinese Financial Markets won the China Accounting and Finance Review, (CAFR) Best Research Paper Award. His work on portfolio flows in emerging markets was adjudged as the best paper in the Journal of Emerging Markets Finance by Sage. Professor Sunil Poshakwale has chaired special sessions and delivered key-note speeches in many international conferences. He serves as Associate Editor of Research in International Business and Finance and on the editorial boards of Global Finance Journal and Annals of Financial Economics. He reviewes papers for several top fnance journals. Sunil's research interests include corporate governance, investments, asset pricing, financial regulations, international finance & investments, and risk management.
Professor Sunil Poshakwale has been a backbone of Cranfield's growth in finance research and MSc programmes. As Director of Cranfield's finance MSc programmes until 2016, he helped drive the ptogramme into the top league of schools offering Financial Times ranked finance masters. He got the CFA recognised status for Cranfield and developed international partnership with Muscat University and student exchange programme with Freie University in Berlin.
Before joining Cranfield in 2006, Sunil held academic positions in a number of UK Business Schools; as a Professor of Finance in the University of Hull (2004-2006), as a Lecturer/Senior Lecturer in University of Birmingham (1998-2004), and as a Lecturer in the University of Kent (1997-1998). Before arriving in the UK, Sunil worked in the academia (Institute of Management Studies, INdore, India, 1989-1994) and held a number of senior positions in the industry in India. He has received several prestigious international scholarships and awards including the Rotary International Scholarship-Argentina (1992), Euro-Asia Centre Scholarship from INSEAD (1993), Shastri Indo-Canadian Scholarship for pursuing research in Carleton University, Ottawa, Canada and the Commonwealth Scholarship to study for his PhD in Manchester Business School, Manchester University, UK. Being an alumnus, he was a visiting Professor to the Manchester Business School's Global MBA programme for many years delivering finance courses all over the world.
Research opportunities
I am interested in supervising PhD/DBA and collaborate on the following areas of research:
Green finance
Emerging markets
International Finance
International portfolio investments
Corporate governance and Diversity of corporate boards
Macro-economy and financial markets & corporate performance
Derivatives and stock markets
Volatility spillovers and comovements
Market structure and liquidity
Financial regulation
Banking
Current activities
I am currently working on following projects:
1. Green finance, Climate finance, Greenwashing, ESG
2. Director characteristics, diversity and firm performance
3. Ambiguity and Asset pricing
4. Macroeconomic uncertainty, financial regulations and firm performance
5. Culture and bank interconnectedness and risk
6. Fintech and financial inclusion
7. Emerging markets
Clients
1. MAPFRE, SA, Madrid, Spain - Completed research project on 'Corporate Governance and the Performance of the EU firms'. MAPFRE, SA is one of the largest Latin American Insurance companies. MAPFRE adopted our research and launched a 'good governance fund' on 15th February, 2017 in Madrid. See, https://noticias.mapfre.com/en/news-corporate/mapfre-is-launching-the-good-governance-fund-mutual-fund-combining-investment-in-value-and-good-corporate-governance/
2. Successfully completed research on 'Gender Diversity and Performance of FTSE 100 Firms', for March Gestión de Fondos, a boutique investment company based in London, 2016.
3. Impact of Financial Regulation, for Compliancy Services Ltd, 2014-2017.
4. Regulation and Competitiveness of Banking sector in Egypt, for the African Development Bank, 2011.
5. Modelling of Political Risk for Atradius (one of the largest commercial insurance companies), 2009.
6. Financial and Economic Governance in Egypt, for the African Development Bank, 2008.
7. Economic and Financial implications and Quality of governance, for the African Development Bank, 2005.
Publications
Articles In Journals
- Khedar H, Agarwal V & Poshakwale S. (2025). Are prestigious directors mere attractive ornaments on the corporate Christmas tree?. British Journal of Management, 36(2)
- Qian B, Poshakwale S & Tan Y. (2024). ‘E’ of ESG and firm performance: evidence from China. International Review of Financial Analysis, 96
- Mandal A, Poshakwale SS & Power GJ. (2020). Do investors gain from forecasting the asymmetric return co‐movements of financial and real assets?. International Journal of Finance & Economics, 26(3)
- Poshakwale SS, Aghanya D & Agarwal V. (2019). The impact of regulations on compliance costs, risk-taking, and the reporting quality of the EU banks. International Review of Financial Analysis, 68
- Aghanya D, Agarwal V & Poshakwale SS. (2019). Market in Financial Instruments Directive (MiFID), stock price informativeness and liquidity. Journal of Banking & Finance, 113
- Poshakwale SS & Chandorkar P. (2019). The impact of aggregate and disaggregate consumption shocks on the Equity Risk Premium in the United Kingdom. Annals of Economics and Finance, 20(2)
- Kang W-Y & Poshakwale SS. (2019). A new approach to optimal capital allocation for RORAC maximisation in banks. Journal of Banking & Finance, 106
- Poshakwale SS, Chandorkar PA & Agarwal V. (2019). Implied volatility and the cross section of stock returns in the UK. Research in International Business and Finance, 48
- Poshakwale SS, Taunson JW, Mandal A & Theobald M. (2018). Lower tick sizes and futures pricing efficiency: evidence from the emerging Malaysian market. Review of Quantitative Finance and Accounting, 53(4)
- Poshakwale SS & Mandal A. (2016). Sources of time varying return comovements during different economic regimes: evidence from the emerging Indian equity market. Review of Quantitative Finance and Accounting, 48(4)
- Poshakwale SS & Mandal A. (2016). What drives asymmetric dependence structure of asset return comovements?. International Review of Financial Analysis, 48
- Poshakwale SS & Mandal A. (2016). Determinants of asymmetric return comovements of gold and other financial assets. International Review of Financial Analysis, 47
- Poshakwale SS & Chandorkar PA. (2016). The impact of monetary policy shocks on the Equity Risk Premium before and after the quantitative easing in the United Kingdom. Investment Management and Financial Innovations, 13(4)
- Poshakwale SS & Ganguly G. (2015). International shocks and growth in emerging markets. Global Finance Journal, 26
- Patra T, Poshakwale SS & Thomas V. (2014). Sovereign credit risk dynamics in the European Monetary Union (EMU). Applied Financial Economics, 24(15)
- Poshakwale S & Mandal A. (2014). Investor Behaviour and Herding: Evidence from the National Stock Exchange in India. Journal of Emerging Market Finance, 13(2)
- Neupane S & Poshakwale SS. (2012). Transparency in IPO mechanism: Retail investors' participation, IPO pricing and returns. Journal of Banking & Finance, 36(7)
- Thapa C & Poshakwale SS. (2012). Country-specific equity market characteristics and foreign equity portfolio allocation. Journal of International Money and Finance, 31(2)
- Patra T, Poshakwale S & Ow-Yong K. (2012). Determinants of corporate dividend policy in Greece. Applied Financial Economics, 22(13)
- Ford JL, Pok WC & Poshakwale S. (2012). The Return Predictability and Market Efficiency of the KLSE CI Stock Index Futures Market. Journal of Emerging Market Finance, 11(1)
- Agarwal V & Poshakwale SS. (2010). Size and book-to-market anomalies and omitted leverage risk. The European Journal of Finance, 16(3)
- Thapa C & Poshakwale SS. (2010). International equity portfolio allocations and transaction costs. Journal of Banking & Finance, 34(11)
- Poshakwale SS & Thapa C. (2010). Foreign Investors and Global Integration of Emerging Indian Equity Market. Journal of Emerging Market Finance, 9(1)
- Alexakis C, Patra T & Poshakwale SS. (2010). Predictability of stock returns using financial statement information: Evidence on semi-strong efficiency of emerging Greek stock market. Applied Financial Economics, 20(16)
- Pok WC, Poshakwale SS & Ford JL. (2009). Stock index futures hedging in the emerging Malaysian market. Global Finance Journal, 20(3)
- Poshakwale SS & Aquino KP. (2008). The dynamics of volatility transmission and information flow between ADRs and their underlying stocks. Global Finance Journal, 19(2)
- Patra T & Poshakwale SS. (2008). Long-run and short-run relationship between the main stock indexes: evidence from the Athens stock exchange. Applied Financial Economics, 18(17)
- Patra T & Poshakwale S. (2006). Economic variables and stock market returns: evidence from the Athens stock exchange. Applied Financial Economics, 16(13)
- Aquino KP & Poshakwale S. (2006). Price determinants of American Depositary Receipts (ADR): a cross-sectional analysis of panel data. Applied Financial Economics, 16(16)
- Poshakwale S & Courtis JK. (2005). Disclosure level and cost of equity capital: evidence from the banking industry. Managerial and Decision Economics, 26(7)
- Pok WC & Poshakwale S. (2004). The impact of the introduction of futures contracts on the spot market volatility: the case of Kuala Lumpur Stock Exchange. Applied Financial Economics, 14(2)
- Poshakwale S. (2002). The Random Walk Hypothesis in the Emerging Indian Stock Market. Journal of Business Finance & Accounting, 29(9-10)
- Poshakwale S & Murinde V. (2001). Modelling the volatility in East European emerging stock markets: evidence on Hungary and Poland. Applied Financial Economics, 11(4)
- Wood D & Poshakwale S. (1997). Market Anomalies in Selected Emerging and Developed Stock Markets. Asia-Pacific Journal of Accounting, 4(1)