Contact Professor Sunil Poshakwale


Prior to joining Cranfield, Sunil worked in the business schools of University of Hull as a Professor of Finance, University of Birmingham as a Lecturer and Senior Lecturer and University of Kent as Lecturer in Finance. Sunil was a Visiting Research Fellow to Carleton University in Ottawa, Canada in 1993-94. From 1989-1993, he was a Lecturer in Finance at the Management School of University of Indore, India. Sunil lived and worked in India for several years as a senior executive in the corporate sector before a change of career in academia in 1989. As a lecturer in India, he was selected for four prestigious international scholarships including the Commonwealth Scholarship to study for his PhD in Manchester in 1994. He travelled to Argentina under the International Rotary Group Study Exchange scholarship in 1992, attended the International Teachers Programme (ITP) in INSEAD, France under the Euro-Asia Scholarship from INSEAD and worked on a research project in Carleton University, Ottawa, Canada under the Shastri-Indo Canadian Scholarship in 1993-94. 

Sunil has presented numerous research papers in leading international conferences and has chaired conference sessions. He was the keynote speaker at the 5th International Conference on Emerging Financial Markets. He has successfully supervised several doctoral students some of who are now pursuing successful careers as academics in universities in the UK, Australia and Greece and as senior executives in top banks and consulting companies around the world. A former graduate of Manchester Business School, he is a Visiting Professor on their Global MBA programme.

Current activities

Sunil is an expert in international finance and emerging markets. He is Director of the full-time MSc in Finance and Management programme and the Centre for Research in Finance. Under his stewardship, the MSc (F&M) has become the 8th best programme globally and 2nd in the UK (behind only Oxford) in the Financial Times 2013 ranking of top 40 Masters in Finance programmes around the world.

Sunil has wide-ranging teaching, research and consulting experience in the areas of finance, investment and governance matters in emerging markets. He is invited by international banks and institutions to act as a finance expert. His views on global finance and economy are regularly broadcast via interviews on the BBC World Service radio and television.  Sunil has been named as one of the most influential management gurus of Indian origin by Business India.  He has published extensively and his papers have appeared in top finance journals such as the Journal of Banking and Finance, Journal of International Money and Finance, International Financial Markets, Institutions and Money and Journal of Business Finance and Accounting. His work on the Emerging Chinese Financial Markets won the CAFR 2001 Best Research Paper Award. His recent research on international portfolio flows has been cited as the best paper for 2009 and 2010 by the Journal of Emerging Markets Finance. His paper on Initial Public Offerings has been in the top ten downloaded list for PSN on SSRN.  

He serves on the editorial board of Global Finance Journal, Journal of Investments and Financial Innovations and Annals of Financial Economics. He is currently supervising 3 PhD and 1 DBA student and co-supervising 2 further PhDs including the one industry sponsored PhD on Financial Regulations.


Articles In Journals

Conference Papers

  • Aghanya D, Poshakwale S & Agarwal V (2017) The impact of statutory audit and corporate reporting directives on compliance costs, risk-taking and reporting quality of the EU banks. In: European Financial Management Association 2017 Annual Meeting, Athens, 28 June - 1 July 2017.
  • Poshakwale S & Chandorkar P (2015) The response of UK equity risk premium to global monetary policy shocks. In: 13th INFINITI Conference on International Finance , Ljublijana, 8-9 June 2015.
  • Aghanya D, Poshakwale S & Agarwal A (2015) What is "good regulation? The impact of leaving the EU on the UK financial services. In: 5th International Conference of the Financial Engineering and Banking Society, Nantes, 11-13 June 2015.
  • Aghanya DE, Poshakwale S & Agarwal V (2015) What is "good regulation?" The impact of leaving the EU on the UK financial services. In: 5th International Conference of the Financial Engineering and Banking Society, Audencia Nantes, 11 June 2015.
  • Poshakwale S & Mandal A (2014) A New Look at the Return Comovements: Evidence from the Emerging Indian Equity Market. In: 2014 Multinational Finance Society Symposium, Larnaca, 4-5 April 2014.
  • Taunson J & Poshakwale S (2014) Tick size reduction, liquidity and pricing efficiency of index futures: Evidence from emerging Malaysian market. In: 2014 Global Finance Conference, Dubai, 31 March - 1 April 2014.
  • Poshakwale S (2010) Does new bank loan at the time of IPO reduce information asymmetry?. In: European Financial Management Association annual conference.
  • Poshakwale S (2010) Impact of bank financing on IPO underpricing: Evidence from the emerging Indian market. In: 17th Annual Global Finance Conference, 2010, Poznan, 27 June 2010.
  • Poshakwale S (2009) Employee Participation in IPOs. In: 22nd Australasian Finance and Banking Conference, Sydney.
  • Poshakwale S (2009) Competitiveness and efficiency of the banking sector and economic growth in Egypt. In: 4th African Economic Conference on Fostering Development in an Era of Financial and Economic Crises, 2009, Adis Ababa, 11 November 2009.
  • Poshakwale S (2009) Investor Protection Regulations and Foreign Equity Portfolio Investments. In: Global Finance Conference, Hawaii, 5 April 2009.
  • Poshakwale S (2009) Investor Protection and Foreign Equity Portfolio Investments. In: Financial Management Association Conference, Turin.
  • Poshakwale S & Thapa C (2008) The impact of foreign equity investment flows on integration of Asian emerging equity markets. In: 2014 Global Finance Conference, Dubai, 31 March 2014.
  • Neupane S & Poshakwale S (2008) Venture backed IPOs in Emerging Markets: Do they reduce Information Asymmetry?. In: ESRC Seminar Series on Corporate Governance, Regulation, and Development, Birmingham, 24 October 2008.
  • Poshakwale S (2007) Foreign Portfolio Investments and Equity Market Comovements: Evidence from the Emerging Indian Stock Market.
  • Poshakwale S & Thapa C (2007) Foreign investors and global linkages of Indian equity markets. In: 20th Australasian Finance and Banking Conference, Sydney.
  • Poshakwale S, Ching P & Ford J (2006) Hedging with stock index futures: Evidence from the Malaysian markets. In: 13th Global Finance Conference, Rio de Janeiro.
  • Agarwal V & Poshakwale S (2006) Does distress risk explain size and Book-to-market effects?. In: CERAM Research Seminar, Sophia Antipolis.
  • Poshakwale S (2005) Volatility transmission dynamics between ADRs and underlying shares. In: 3rd International Finance Conference.
  • Poshakwale S (2004) Exchange rate and stock price interactions in European emerging financial markets before and after the Euro. In: European Financial Management Association Conference, Basle.
  • Poshakwale S (2003) Interaction between the stock market and foreign exchange market: Evidence on European emerging markets. In: 24th SUERF Colloquium on stability and efficiency of financial markets in Central and Eastern Europe, Tallinn.
  • Poshakwale S (2002) Market Capitalisation, Cross Correlations, the Lead/Lag Structure and Microstructure Effects in the Indian Stock Market. In: European Financial Management Association Annual Conference, London.
  • Poshakwale S (2000) What Are the Key Features of Volatility in East European Emerging Stock Markets? Evidence on Hungary and Poland. In: European Financial Management Association Annual Conference, Athens.
  • Poshakwale S (2000) The dynamics between stock returns and mutual funds flows: Empirical evidence from the Greek stock market. In: European Financial Management Association Annual Conference, Athens.
  • Poshakwale S (1999) Conditional Variance and Non-linear Effects in Disaggregated Data: Does the Market Microstructure Matter? Comparative Evidence from the Indian and UK Stock Markets. In: 6th Annual Conference of the Multinational Finance Society, Toronto.
  • Poshakwale S (1999) Modeling the Nature of Volatility Conditions in the East European Emerging Stock Markets. In: Conference on Building Financial Institutions in Transition Economies, Poznan.
  • Poshakwale S (1998) Foreign Equity Investment and Volatility: Evidence from Chinese Emerging Markets. In: European Financial Management Association Annual Conference, Lisbon.
  • Poshakwale S (1998) Linear and Nonlinear Volatility in the Hungarian and Polish Emerging Markets: An Analysis and Comparison. In: 5th Annual Conference of Multinational Finance Society, Helsinki.
  • Poshakwale S (1995) Non-linear Structure of Polish Stock Market.
  • Poshakwale S (1995) An Empirical Investigation of the Structure and Dynamics of the Chinese Stock Market.


  • Poshakwale S & Wood D (1998) Conditional variance and nonlinearity in the Polish emerging market. In: Emerging Capital Markets: Financial and Investment Issues. Choi J, Doukas J (ed.), Quorum Books, p. 205-224.
  • Poshakwale S (1998) Market efficiency. In: The Blackwell Encyclopaedic Dictionary of Finance, p. 117-119.
  • Poshakwale S & Wood D (1997) The impact of regulatory changes in the Indian stock market: An event study. In: Economic Liberalisation: Its Impact on Indian Economy, Business and Society. Titus V, Sundaram S, Kulkarni K (ed.), IL, USA: Association of Indian Economic Studies, p. 86-101.
  • Poshakwale S & Wood D (1997) A recent evidence on return seasonalities in major stock market indices. In: Contemporary Developments in Finance. Topsacalian P (ed.), Paris: Groupe Sup de CO Montpellier, ESKA Editions, p. 81-92.
  • Poshakwale S, Wood D & Dasgupta B (1996) Investigating the dynamics of Polish WIG-20. In: Modelling and Analysing Economies in Transition, p. 237-257.