Dr Tianshu Zhao

Dr Tianshu Zhao

The Department of Finance
Senior Lecturer in Finance

Contact details

Birmingham Business School
University House
116 Edgbaston Park Road
B15 2TY

Dr Zhao is a micro-economist with a particular interest in exploiting the micro-economic foundation of the financial development on economic growth. Her research focuses on empirical questions regarding 1) how the changes in regulatory structure, market structure and organizational structure influence competition, efficiency, productivity and risk taking behaviour of banks, and 2) how those changes are propagated into the financing and investment policies of the real sector.  Her research also covers the topics regarding the role of economy-wide institutional setting on banks’ risk taking and financial intermediation behaviour. Her recent research relates to the impact of the characteristics of regional banking market on the spatial differential of the access to external finance of the real sector. Her current research considers the implication of the organizational aspects and scoring techniques used in the lending process for SMEs’ access to bank finance.


  • BSc in Economics
  • MSc in Economics
  • PhD in Economics
  • CPA


2007-2008, Teaching and Research Associate, Bangor Business School, Bangor University

2008-2015, Lecturer in Economic, Stirling Management School, Stirling University

2015- present , Senior Lecturer in Finance, Birmingham Business School, Birmingham University


  • Fund Management
  • Security Analysis and Valuation


  • DFID-ESRC Growth Research Programme Call 3 (2015/2016), “Delivering inclusive financial development and growth”, co-investigator, £2,017,452; 1/4/2016-1/4/2020  
  • ESRC-NSFC Developing financial systems to support sustainable growth in China, Shadow banking and the Chinese economy: A micro to macro modelling framework, co-investigator, £570,000; 1/1/2017-1/1/2020


  • “Competitive conditions among the major British banks”,  Journal of Banking & Finance, Volume 31 (7), 2007, pp. 2025−2042. (with Kent Matthews and Victor Murinde).
  • “The impact of regulatory reforms on cost structure, ownership and competition in Indian banking” Journal of Banking & Finance, Volume 34, 2010, pp. 246–254. (With Barbara Casu and Alessandra Ferrari).
  • "Regulatory Reform and Productivity Change in Indian Banking", The Review of Economics & Statistics, Vol. 95, 2013, pp. 1066-1077 (With Barbara Casu and Alessandra Ferrari).
  • “Cross-Selling, Switching Costs and Imperfect Competition in British Banks”. Journal of Banking & Finance, 2013,  Volume 37, pp. 5452–5462 (with Kent Matthews and Victor Murinde).
  • “SMEs, banks and the spatial differentiation of access to finance”, Journal of Economic Geography, 2016, pp. 1–34, (with  D Jones-Evans),  

View all publications in research portal