Dr Suman Lodh
Faculties, departments and locations
- Faculty of Business and Social Sciences
- Department of Accounting, Finance and Informatics
- Ȧ Business School
- Ȧ Hill
Associate Professor in Finance
- Email:
- [email protected]
About
Dr Suman Lodh is a full-time Associate Professor in Finance at the Ȧ Business School, Ȧ London. His research career started with a PhD in Applied Economics under the supervision of Professor Maria R Battaggion (University of Bergamo, Italy) and Professor Gina O'Conor (Rensselaer Polytechnic Institute, USA). Suman's research lies at the intersection of corporate finance, financial reporting, and sustainability. His publications and projects have focused on corporate accountability towards climate change, biodiversity, corporate lobby, digital currency, and SME finance. He has published in top international journals including Journal of Business Ethics, International Review of Financial Analysis, Corporate Governance: An International Review and The International Journal of Accounting. My recent funded projects commissioned by the National Science Foundation (USA), Natural Environment Research Council, UKRI, Department of Business Strategy and Industrial Strategy (BEIS), UK government, and London Borough of Hounslow emphasise on recovering green economy. His work has been featured on BBC Asian Network, UK Parliament website and CFA Digest.
Suman serves as the Treasurer and a member of the Executive Trustees of British Accounting and Finance Association, UK (BAFA) since 2021. He is an associate editor of Journal of Applied Accounting Research and in the editorial board of International Journal of Financial Studies, and Risk Governance & Control: Financial Markets & Institutions, and International Journal of Business Governance and Ethics.
Suman's research always feeds into his teaching and helps him to become an experienced educator with the ability to engage, inspire and demystify complex issues relevant to real world. He has taught Financial Econometrics, Corporate Finance, Financial Statement Analysis in the Post Graduate Programmes. He is passionate about the green recovery of economy as well as improving access to finance of early-stage local businesses.
For working paper see his personal website and Google Scholar.
Qualifications
- PhD in Applied Economics
- PGCert HE (Fellow of the Higher Education Academy)
Domains
Suman's passion has always been teaching Econometrics and its application in Accounting and Finance at postgraduate and PhD level. He designed and delivered successfully Advanced and Applied Econometrics modules for more than 10 years at Middlesex University, with an outstanding students' performance record. He also has taught a range of modules including corporate finance and corporate social responsibility at various levels. Here is a list of modules:
Courses taught - Applied and Advanced Econometrics (Post Graduate), Research Methods and Dissertation (Post Graduate), Financial Econometrics and Financial Modelling (Post Graduate), Corporate Finance (Postgraduate), Financial Statement Analysis (Post graduate), Business Management in Emerging Market (Undergraduate), Corporate Social Responsibility (undergraduate).
Doctoral Students- Supervised to completion
1. Marian Mgbame: Thesis title- Risk management of CEO and CEO compensation
2. Vishwanath Sadanand: Thesis title - FDI Spillovers in Emerging Market.
3. Tung Le: Thesis title - Momentum trading and investor sentiment.
4. Samirah Jugoo: Thesis title- Corporate governance and investment fund performance.
5. Jose Arias: Thesis title- Banking supervision and bank culture.
6. Shamol Miah: Thesis title - Mergers and acquisition and corporate reputation.
7. Ibrahim Khan: Thesis title -Environment performance and political connection
8. Tomasz Godziek: Thesis Title- The impact of the macroeconomic conditions on the performance of the Software, Hardware and Semiconductor industry group indices
Qualifications
- PhD in Economics
Courses taught
Suman's research interests include topics that can make an impact and a positive difference to businesses. Currently he is working on application of machine learning and blockchain in business, bank's performance, sustainability and few other related areas.
Impact:
Suman has worked with small local companies in the UK and published the evidence on the UK Parliament website related to the impact of Covid-19 on their survival. He has also co-authored a few blog posts which are available on Institute for Small Business and Entrepreneurship (ISBE) website. His research has attracted the media and had an interview on BBC Asian Network radio channel in October 2020. His previous research has also got attention by CFA Digest (2015) and Mediterranean Dialogue (2017). Recently, he completed an impactful project funded by Chartered Institute of Taxation on Net-zero carbon target of UK.
Some of his research works are covered by media, such as CFA Digest, The Conversation, Mediterrnean Dialogue and BBC Asian Network.
Happy to speak to media.
Research Student Supervision
- Bella Nyamse
- Arma Kulenovic
Qualifications
- Financial econometrics, Machine Learning, and AI
- Corporate Finance
Specialisms
- Cryptocurrency and Blockchain Technology
- SME Finance and Sustainability
- Climate Change and Carbon Accounting
- Earnings Management
- Banking
Scholarly affiliations
- Exec Trustee and Treasurer, British Accounting and Finance Association
- Fellow, Association of International Accountants
- UKRI Talent Peer Review College
- British Academy of Management Peer Review College
- Institute of Management Accountants (USA)- Technology Solutions & Practices Shared Interest Group
Suman has been a guest speaker at many leading universities including Amity University, Gaur Banga University, and University of Engineering and Management, St Xavier's College(India), University of Eastern Finland (Finland), Dhofar University(Oman) and Brunel University London (workshops for PhD programme). In addition, he served as a panel member for International Congress on Information and Communication Technology (ICICT - 2017, 2018, 2019, 2020) to discuss topics on related to blockchain and digital finance reports. He was also one of the esteemed panellists at the World Summit on the Information Society Forum 2022 (Accelerating progress on SDGs).
Recent funded Projects:
- Natural Environmental Research Council (NERC): "Nature Positive SME Finance" - Co-Investigator. (£184K). (2023)
- Developing framework for measuring London Borough of Hounslow (LBH) 2030 Green Economy Doubling Strategy – For London region, West London sub region and LBH. Academic Partner of Green Economy Programme of LB Hounslow. Co-investigator.(£120K) (2022-2024).
- Natural Environmental Research Council (NERC) and Finance for Biodiversity (F4B): SME Financing for Biodiversity: Building Nature Measurement and Impacts into SME Financing (‘SME FinBio') - with Agri-Food Sector Case Study Example. Principal Investigator (with Owen R and Lyon, F). (£100K). (2022)
- Early stage high growth SMEs in the UK. - Department of Business, Energy and Industrial Strategy (BEIS-UK) (£10K) (2022).
- Green tax and sustainable recovery (2021). Funder: Chartered Institute of Taxation, UK.
- Social Enterprise and market trends (LSBS Survey Analysis). Funder: Department for Digital, Culture and Media Support (DCMS), UK.
- The evaluation of the English ERDF 2014-20 Operational Programme (OP). In association with Regeris Consultant, Belmana and BMG Research (2018-21)- £1.9m
- Productivity project funding: Round 2 (Productivity Insight Network) with Owen, R, Harier, T. (2020)- £46k.
- Enterprise Research Center- Phase 3 Longitudinal Small Business Survey: SME Access to Finance. with Owen, R., Anwar, O., Botelho, T.(2018-2019)-£5k
Suman is an active member of:
- UKRI Talent Peer Review College
- British Academy of Management Peer Review College
- Technology Solutions & Practices SIG (Institute of Management Accountants, USA)
Professional and scholarly affiliations
- Research Engagement Lead, ARIMA Farm Limited, Ghana
Suman served as the Research Lead in Accounting and Finance department and was one of the chairs of Research Ethics Committee at Middlesex University London. He co-founded the Green Finance Research Hub, a multi-disciplinary research group within the Middlesex University Business School. The main aim of this research group is to do research on sustainability, climate change and SME finance as well as share skill and knowledge in classroom and with colleagues.
In addition, Suman was one of the country experts of International Corporate Governance Society (icgsociety.org/about/country-experts/) who contributed to compile country level resources to understand governance environment.
He is also the Treasurer and a member of the Executive Trustees of British Accounting and Finance Association (BAFA) since 2021. Previously, He had the role of the Secretary (2018-2021) of BAFA-SEAG (British Accounting and Finance Association- South-East Area Group).
Associate Editor:
- Journal of Applied Accounting Research
Editorial board member:
- International Journal of Financial Studies
- Risk Governance & Control: Financial Markets & Institutions
Qualifications and expertise
- Leading with Excellence (certification from Middlesex University)
Publications
Corporate risk management after the COVID-19 crisis
Lodh, Suman and Nandy, Monomita (2023). London, U.K.: (World Scientific)
An early-warning risk signals framework to capture systematic risk in financial markets
Ciciretti, Vito, Nandy, Monomita, Pallotta, Alberto, Lodh, Suman, Senyo, PK and Kartasova, Jekaterina, 2025, Quantitative Finance
Disclosure dynamism : TCFD aligned climate claims of UK corporates
González Cortés, Daniel, Lodh, Suman, Akbar, Saeed and Nandy, Monomita, 2025, Business Strategy and the Environment
Forecasting digital asset return : an application of machine learning model
Ciciretti, Vito, Pallotta, Alberto, Lodh, Suman, Senyo, P. K. and Nandy, Monomita, 2024, International Journal of Finance and Economics
COVID-19 and persistence in the stock market : a study on a leading emerging market
Bhattacharjee, Anindita, Nandy, Monomita and Lodh, Suman, 2024, International Journal of Disclosure and Governance
A crime by any other name : gender differences in moral reasoning when judging the tax evasion of cryptocurrency traders
Grym, Jori, Aspara, Jaakko, Nandy, Monomita and Lodh, Suman, 2024, Behavioral Sciences (14), 3, pp 198
Lodh, Suman, Deshmukh, Nitin and Rohani, Alireza, 2024, Business Strategy and the Environment (33), 2, pp 858-881
Relation between environmental sustainable development goals and sustainable tourism : current status and future prospects
Chakraborty, Sushmita, Nandy, Monomita, Lodh, Suman and Ntim, Collins C, 2023, Tourism Analysis
Impact of audit quality and climate change reporting on corporate performance : a review and future research agenda
Alaamri, Yazen, Hussainey, Khlaed, Nandy, Monomita and Lodh, Suman, 2023, Journal of Accounting Literature
Stock co-movement and governance bundles : does the quality of national governance moderate this relationship?
Egwuonwu, Ambrose, Lodh, Suman and Nandy, Monomita, 2023, (28), 3, pp 2530-2548
Tradeoff between corporate investment and CSR : the moderating effect of financial slack, workforce slack, and board gender diversity
Uyar, Ali, Lodh, Suman, Nandy, Monomita, Kuzey, Cemil and Karaman, Abdullah S., 2023, International Review of Financial Analysis (87), pp 102649
Editorial : Entrepreneurial finance for green innovative SMEs
Owen, Robyn, Botelho, Tiago, Mac an Bhaird, Ciarán, Ghulam Hussain, Javed, Pierrakis, Yannis, Scott, Jonathan M. and Lodh, Suman, 2023, IEEE Transactions on Engineering Management (70), 3, pp 942-949
Exploration of small and medium entities' actions on sustainability practices and their implications for a greener economy
Afolabi, Hammed, Ram, Ronita, Hussainey, Khaled, Nandy, Monomita and Lodh, Suman, 2022, Journal of Applied Accounting Research
Can CSR mechanisms spur GRI adoption and restore its lost value relevance?
Nandy, Monomita, Kuzey, Cemil, Uyar, Ali, Lodh, Suman and Karaman, Abdullah S., 2022, Journal of Applied Accounting Research
Influence of governance bundles and directors' social capital on cash holding in foreign cross-listed firms
Lodh, Suman, Nandy, Monomita and Kaur, Jaskaran, 2022
The 'journey of a hero' and sustainable development
Stelly, Britain, McCarroll, John, Nandy, Monomita and Lodh, Suman, 2022, World Review of Entrepreneurship, Management and Sustainable Development
Coupling of cryptocurrency trading with the sustainable environmental goals : is it on the cards?
Mustafa, Fairouz, Lodh, Suman, Nandy, Monomita and Kumar, Vikas, 2022, Business Strategy and the Environment (31), 3, pp 1152-1168
The future of non-financial businesses reporting : learning from the Covid-19 pandemic
Hassan, Abeer, Elamer, Ahmed A, Lodh, Suman, Roberts, Lee and Nandy, Monomita, 2021, Corporate Social Responsibility and Environmental Management (28), 4, pp 1231-1240
Does lobbying of firms complement executive networks in determining executive compensation?
Nandy, Monomita, Lodh, Suman, Wang, Jin and Kaur, Jaskaran, 2021, International Journal of Finance and Economics (26), 3, pp 4137-4162
Corporate accountability towards species extinction protection : insights from ecologically forward-thinking companies
Roberts, Lee, Nandy, Monomita, Hassan, Abeer, Lodh, Suman and Elamer, Ahmed A., 2021, Journal of Business Ethics (178), 3, pp 571-595
Lessons from COVID-19 and a resilience model for higher education
Nandy, Monomita, Lodh, Suman and Tang, Audrey, 2021, Industry and Higher Education (35), 1, pp 3-9
How does culture impinge upon managers' demeanor of earnings management? Evidence from cross-country analysis
Chaney, Paul, Lodh, Suman and Nandy, Monomita, 2021, The International Journal of Accounting (56), 2, pp 2150009
A reply to the discussion of “How does culture impinge upon managers’ demeanor of earnings management? Evidence from cross-country analysis”
Chaney, Paul K, Lodh, Suman and Nandy, Monomita, 2021, The International Journal of Accounting (56), 2, pp 2180007
Impact of directors' networks on corporate social responsibility : a cross country study
Nandy, Monomita, Lodh, Suman, Kaur, Jaskaran and Wang, Jin, 2020, International Review of Financial Analysis (72), pp 101601
The comprehensive environmental management model in post-Covid19 era
Nandy, Monomita, Marocchi, Giovanni, Lodh, Suman and Corradini, Alessandro, 2020, Journal of Business and Management Studies (2), 1, pp 1-15
How has the global financial crisis affected syndicated loan terms in emerging markets? Evidence from China
Caporale, Guglielmo Maria, Lodh, Suman and Nandy, Monomita, 2018, (23), 4, pp 478-491
Fair value in the professional valuation : concept and models
Artemenkov, Andrey, Lodh, Suman and Nandy, Monomita, 2018, International Journal of Critical Accounting (10), 6, pp 427-446
The performance of banks in the MENA region during the global financial crisis
Caporale, Guglielmo Maria, Lodh, Suman and Nandy, Monomita, 2017, Research in International Business and Finance (42), pp 583-590
Gender inequality and disabled inclusivity in accounting higher education and profession during financial crisis
Lodh, Suman and Nandy, Monomita, 2017, Industry and Higher Education (31), 5, pp 335-347
Accrual-based and real earnings management and political connections
Braam, Geert, Nandy, Monomita, Weitzel, Utz and Lodh, Suman, 2015, The International Journal of Accounting (50), 2, pp 111-141
Technological breadth and depth of knowledge in innovation : the role of mergers and acquisitions in biotech
Lodh, Suman and Battaggion, Maria Rosa, 2015, Industrial and Corporate Change (24), 2, pp 383-415
Innovation and family ownership : empirical evidence from India
Lodh, Suman, Nandy, Monomita and Chen, Jean, 2014, Corporate Governance : An International Review (22), 1, pp 4-23
Do banks value the eco-friendliness of firms in their corporate lending decision? Some empirical evidence
Nandy, Monomita and Lodh, Suman, 2012, International Review of Financial Analysis (25), pp 83-93
Introduction : problematising the post-pandemic corporate risk management — future directions of research
Lodh, Suman and Nandy, Monomita (2023). In: Lodh, Suman, (eds.) and Nandy, Monomita, (eds.), Corporate risk management after the COVID-19 crisis. London, U.K.: World Scientific, pp XV-XXIX
B Corps in India : a sustainable business model
Goel, Puneeta, Misra, Rupali, Lodh, Suman, Nandy, Monomita and Mishra, Nandita (2023). In: Peter, Henry, (eds.), Vargas Vasserot, Carlos, (eds.) and Alcalde Silva, Jaime, (eds.), The International Handbook of Social Enterprise Law. Cham: Springer, pp 621-649
Post Covid-19 and business analytics
Nandy, Monomita and Lodh, Suman (2020). In: Joshi, Amit, (eds.), Dey, Nilanjan, (eds.) and Santosh, K. C., (eds.), Intelligent Systems and Methods to Combat Covid-19. Singapore: Springer, pp 83-91
The impact of international financial reporting standards adoption on earnings management: evidence from EU countries
Lodh, Suman and Nandy, Monomita (2017). In: Ekanem, Ignatious U, (ed.), Understanding Bankruptcy: Global Issues, Perspectives and Challenges. Nova Science Publishers, pp 173-194
Non-fungible tokens (NFTs) and the blockchain
Nandy, Monomita, Pallotta, Alberto, Ciciretti, Vito, Matharu, Mann and Lodh, Suman (2023). U.K.: (UK Parliament)
SME finance for biodiversity (‘FinBio’) in the UK
Owen, Robyn, Lyon, Fergus, Burnett, Amy and Lodh, Suman (2022). London, U.K.: (Centre for Enterprise, Environment and Development Research (CEEDR) and GreenFin Research Cluster, Middlesex University)
SME financing for biodiversity : building nature measurement and impacts into SME financing (‘SME FinBio’) : key findings and recommendations (policy-orientated)
Owen, Robyn, Lyon, Fergus, Burnett, Amy and Lodh, Suman (2022). London, U.K.: (Middlesex University)
Exploring external finance to build back better a green UK SME economy
Owen, Robyn, Lodh, Suman, Anwar, Osman and Plekhanov, Sergei (2022). (Enterprise Research Centre)
Can environmental tax reform contribute towards net zero carbon for the UK?
Jelfs, Peter, Lodh, Suman and Nandy, Monomita (2021). (UK Parliament)
[Contribution to Public Consultation on draft revisions to the G20/OECD Principles of Corporate Governance]
Nandy, Monomita and Lodh, Suman (2020). (OECD)
[Post-pandemic economic growth]
Nandy, Monomita and Lodh, Suman (2020). (UK Parliament)
A comprehensive coronavirus recovery model for small business
Lodh, Suman and Nandy, Monomita (2020). (UK Parliament)
An investigation of UK SME access to finance, growth and productivity, 2015-2017 - ERC Research Paper 79
Owen, Robyn, Botelho, Tiago, Anwar, Osman, Harrer, Theresia and Lodh, Suman (2019). (Enterprise Research Centre (ERC))
Climate reporting by the UK companies : application of machine learning model
González Cortés, Daniel, Akbar, Saeed, Nandy, Monomita and Lodh, Suman(2024). In: 46th Annual Congress of the European Accounting Association (EAA), 15-17 May 2024 :Bucharest, Romania