Dr Anandadeep Mandal

Dr Anandadeep Mandal

The Department of Finance
Assistant Professor in Finance
Programme Director MSc Financial Technology

Contact details

University of Birmingham
B15 2TT

Dr Anandadeep Mandal is an applied mathematician with both theoretical and empirical interests in the field of quantitative finance. He also has a keen interest in formulating strategies through ‘data-driven problem solving’ approach. His research underpins a desire to learn, understand and explain the complex dynamics of the key issues in the society ranging from financial economics to healthcare.

Apart from mainstream disciplinary journals, he has several high impact articles involving inter-disciplinary collaborations on health applications, leading to decision making by health organizations like the NHS and the UK government.


  • PhD on Probability Distribution Fitting, Cranfield University (2016)
  • MRes in Management Science, Cranfield University (2012)
  • MSc in Finance and Investments, Durham University (2008)


Undergraduate: Advanced Finance
Postgraduate: Big Data Management and Risk Management for MSc Financial Technology and MSc Investment students.

Postgraduate supervision

Themes: Asset Pricing, Risk Analytics, Derivatives Market, Investment Science.
Applied Techniques: Stochastic Processes, Econometrics, PDEs, Stochastic Calculus, DGSE processes.


Recent publications


Reddy, RC, Bhattacharjee, B, Mishra, D & Mandal, A 2022, 'A systematic literature review towards a conceptual framework for enablers and barriers of an enterprise data science strategy', Information Systems and e-Business Management, vol. 20, no. 1, pp. 223-255. https://doi.org/10.1007/s10257-022-00550-x

Morrissey, H, Ball, P, Mandal, A, Nevil, A, Paneesha, S, Basu, S, Karim, F, Hossain, MI, Phillips, N, Khawaja, J, Tanswell, J, Murray , D, Randall , K, Murthy , V, Kishore , B, Nikolousis , M, Pratt, G, Neilson , J, Pemberton , N & Wandroo , F 2021, 'COVID-19 in hematology patients: real world experience in hospitals in the UK West Midlands', Journal of Blood & Lymph, vol. 11, no. 6, 254. <https://www.hilarispublisher.com/blood-lymph/current-issue.html>

J. Power, G, Rani, N & Mandal, A 2021, 'Corporate control and the choice of investment financing: the case of corporate acquisitions in India', Review of Quantitative Finance and Accounting. https://doi.org/10.1007/s11156-021-00987-0

Sethi, S, Kumar, A, Mandal, A, Shaikh, M, Hall, CA, Kirk, JMW, Moss, P, Brookes, MJ & Basu, S 2021, 'The UPTAKE study: implications for the future of COVID-19 vaccination trial recruitment in UK and beyond', Trials, vol. 22, no. 1, 296. https://doi.org/10.1186/s13063-021-05250-4

Sethi, S, Kumar, A, Mandal, A, Shaikh, M, Hall, CA, Kirk, J, Moss, P, Brookes, MJ & Basu, S 2021, 'The UPTAKE study: a cross-sectional survey examining the insights and beliefs of the UK population on COVID-19 vaccine uptake and hesitancy', BMJ open, vol. 11, no. 6, e048856, pp. 1-11. https://doi.org/10.1136/bmjopen-2021-048856

Moreira Barreto de Oliveira, A, Mandal, A, Binner, J, Kelly, L & J. Power, G 2021, 'Using GAM functions and Markov-Switching models in an evaluation framework to assess countries’ performance in controlling the COVID-19 pandemic', BMC Public Health, vol. 21, no. 1, 2173 , pp. 1-14. https://doi.org/10.1186/s12889-021-11891-6

Mandal, A 2020, 'COVID-19 in haematology patients: A multi-centre West Midlands clinical outcomes analysis on behalf of West Midlands Research Consortium: Impact of COVID-19 on Haematology Patients', British Journal of Haematology.

Whitmill, R, Basu, S, Mandal, A, Usung, U, Babai, A & Mohamed, M 2020, 'Critical Care Support Improves Outcome of Haematology Admissions: A Retrospective Analysis during COVID Pandemic from UK: Importance of Critical Care during COVID-19', Blood, vol. 136, pp. 17-18. <https://ashpublications.org/blood/article/136/Supplement%201/17/473967/Critical-Care-Support-Improves-Outcome-of>

Mandal, A, Poshakwale, S & J. Power, G 2020, 'Do investors gain from forecasting the asymmetric return comovements of financial and real assets?', International Journal of Finance and Economics, pp. 1-46. https://doi.org/10.1002/ijfe.1961

Mandal, A, Moreira Barreto de Oliveira, A & J. Power, G 2019, 'A primer on the pricing of electric energy options in Brazil via mean-reverting stochastic processes', Energy Reports, vol. 5, 206, pp. 594-601. https://doi.org/10.1016/j.egyr.2019.03.010

Poshakwale, S, W. Taunson, J, Mandal, A & Theobald, M 2018, 'Lower tick sizes and futures pricing efficiency: evidence from the emerging Malaysian market', Review of Quantitative Finance and Accounting. https://doi.org/10.1007/s11156-018-0777-7

Mandal, A & Poshakwale, S 2017, 'Sources of time varying return comovements during different economic regimes: evidence from the emerging Indian equity market', Review of Quantitative Finance and Accounting, vol. 48, no. 4, pp. 859-892. https://doi.org/10.1007/s11156-016-0580-2

Poshakwale, S & Mandal, A 2016, 'Determinants of asymmetric return comovements of gold and other financial assets', International Review of Financial Analysis, vol. 47, pp. 229-242. https://doi.org/10.1016/j.irfa.2016.08.001


Poshakwale, S & Mandal, A 2020, Large-sample theory. in Handbook of Financial Econometrics, Mathematics, Statistics, and Machine Learning (In 4 Volumes). World Scientific, pp. 3985-3999. https://doi.org/10.1142/9789811202391_0115


Morrissey, H, Ball, P, Mandal, A, Nevil, A, Paneesha, S, Basu, S, Karim, F, Hossain, MI, Phillips, N, Khawaja, J, Stone, J, Murray, D, Randall, K, Murthy, V, Kishore, B, Nikolousis, M, Pratt, G, Neilson, J, Pemberton, N & Wandroo, F 2020, 'COVID-19 in haematology patients: a multicentre West Midlands clinical outcomes analysis on behalf of West Midlands Research Consortium', British Journal of Haematology. https://doi.org/10.1111/bjh.17136

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