Professor Hisham Farag

Professor Hisham Farag

The Department of Finance
Professor of Finance
Founding Director of the Sustainable Financial Innovation Research Centre (SFIC)

Contact details

Address
University of Birmingham
Edgbaston
Birmingham
B15 2TT
UK

Hisham Farag is Professor of Finance and Director of Research at Birmingham Business School. He is also the Founding Director of the Sustainable Financial Innovation Research Centre (SFIC).

Qualifications

  • BSc Business Administration
  • MSc Finance
  • PhD Business Administration
  • PhD Finance

Teaching

  • Corporate Finance 
  • Finance for Managers (MBA)
  • Financial Derivatives 
  • Risk Management (MSc)
  • Portfolio Theory and Investment Analysis

Research

Research interests:

  • FinTech
  • Corporate governance.
  • Board structure.
  • Board diversity.
  • Corporate social responsibility.
  • Behavioural finance.

Research grants:

  • Investment Decisions in Hedge Funds? (with Maria Schutte), Funded by Birmingham Business School (2018) - and the University of Dayton Business School –USA (2018)
  • Board of Directors Effectiveness, Funded by Energy Systems Catapult, Innovate UK. (2017-2018)
  • Do the characteristics and affiliations of the Board of Directors influence the riskiness of a Financial Institution? Funded by The Bank of England , (2016-2017)
  • Balancing the Board: Directors’ Skills and Diversity (with Christine Mallin). Funded by the Institute of Chartered Accountants of Scotland (ICAS), (2014-2016)

Other activities

Editorial Boards:

  • Associate Editor of the European Journal of Finance.
  • Associate Editor of Research in International Business and Finance.
  • Associate Editor of the Business Ethics European Review
  • Associate Editor of the African Accounting and Finance Association

Publications

Recent publications

Article

Farag, H, Luo, D, Yarovaya, L & Zieba, D 2025, 'Returns from liquidity provision in cryptocurrency markets', Journal of Banking & Finance, vol. 175, 107411. https://doi.org/10.1016/j.jbankfin.2025.107411

Farag, H, Koirala, S, Luo, D & Roa, S 2024, 'Do Titans Deliver the ESG Promise? Societal Recognition and Responsible Corporate Decisions', British Journal of Management. https://doi.org/10.1111/1467-8551.12876

Farag, H & Luo, D 2024, 'ESG and Aggregate Disagreement', Journal of International Financial Markets, Institutions and Money. <https://www.sciencedirect.com/science/article/pii/S1042443124000386?dgcid=rss_sd_all>

Ahmad, W, Farag, H & Wang, Y 2023, 'Do New CEOs Really Care about Innovation?', European Financial Management. https://doi.org/10.1111/eufm.12411

Cumming, D, Farag, H, Johan, S & McGowan, D 2022, 'The digital credit divide: marketplace lending and entrepreneurship', Journal of Financial and Quantatative Analysis, vol. 57, no. 7, pp. 2659 - 2692. https://doi.org/10.1017/S0022109022000357

Koirala, S, Rao, SK, Farag, H & Marshall, A 2022, 'The market for corporate control and risk-taking: evidence from global M&A laws', British Journal of Management. https://doi.org/10.1111/1467-8551.12625

Wang, Y, Farag, H & Ahmad, W 2021, 'Corporate Culture and Innovation: A Tale from an Emerging Market', British Journal of Management, vol. 32, no. 4, pp. 1121-1140. https://doi.org/10.1111/1467-8551.12478

Farag, H & Johan, S 2021, 'How alternative finance informs central themes in corporate finance', Journal of Corporate Finance, vol. 67, 101879. https://doi.org/10.1016/j.jcorpfin.2020.101879

Andrew, M, Omar, HF, Neupane, B, Neupane, S & Thapa, C 2021, 'Tax threat and the disruptive market power of foreign portfolio investors', British Journal of Management. https://doi.org/10.1111/1467-8551.12541

Commissioned report

Acton, J, Anderson, P, Andres, L, Angus, M, Amor, P, Arrowsmith, J (ed.), Asmelash, H, Bartington, S (ed.), Bengtsson, F, Bhullar, L, Bloss, W, Bonet, B, Börner, S, O Bonsu, N, Bryson, JR, Burns, V, Burrows, A, Calvert, C, Cassidy, N, Cavoski, A, Chadyiwa, M, Chapman, H, Chapman, L, Cockram, M, Degendardt, L, Dickinson, D, Ding, Y, Dobrzynski, D, Dolo, M, Dora, J, Ercolani, M, Ersoy, A, Farag, H, Ferranti, E, Fisher, R, Freer, M, Goldmann, N, Goode, CE, Greenham, S, Gulati, S, Hadfield-Hill, S, Harper, G, Hegerl, G, Hillmansen, S, Holmes, J, Huang, JJ, Huser, C, Jackson, R, Jaroszweski, D, Jefferson, I, Johnson, J, Kaewunruen, S, Kelly-Akinnuoye, F, Kettles, G, Kraftl, P, Krause, S, Leckebusch, GC, Lee, R, Lockwood, B (ed.), Lohse, J, Luna Diez, E, Lynch, I (ed.), MacKenzie, R, Maddison, D, Makepeace, J, Mann, V, Marino, R, Mavronicola, N, McDonald, M, McGowan, K (ed.), Metje, N, Ng, K, Nicol, J, O'Sullivan, C, Phalkey, N, Prestwood, E, Pyatt, N, Quinn, A, Radcliffe, J (ed.), Ravi, M, Reardon, L, Reeder, T, O’Regan, P, Remedios, L, Roberts, J, Rogers, C, Rungskunroch, P, van Schaik, W, Swan, J (ed.), Thomson, I, Toft, H (ed.), Tong, J, Botello Villagrana, F, Walton, A, Wason, C (ed.), Weir, C, Wood, R & Zhong, J 2021, Addressing the climate challenge. University of Birmingham. https://doi.org/10.25500/epapers.bham.00003451

Other contribution

Farag, H, Koirala, S & Neupane, B 2024, Sovereign Wealth Fund: Navigating the Dichotomy of Good and Evil. Academy of Social Sciences. <https://acss.org.uk/sovereign-wealth-fund-navigating-the-dichotomy-of-good-and-evil/>

Marshall, A, Farag, H, Neupane, B, Neupane, S & Thapa, C 2022, Tax threats and the disruptive market power of foreign portfolio investors. Tax and Transfer Policy Institute. <https://www.austaxpolicy.com/tax-threats-and-the-disruptive-market-power-of-foreign-portfolio-investors/>

Farag, H, Marshall, A, Neupane, B, Neupane, S & Thapa, C 2022, The disruptive market power of foreign portfolio investors in the face of tax threat. Ideas for India. <https://www.ideasforindia.in/topics/money-finance/the-disruptive-market-power-of-foreign-portfolio-investors-in-the-face-of-tax-threat.html>

Review article

Dove, A, Lee, R, Farag, H, Macpherson, R, Krause, S, Elsdon-Baker, F & Cavoski, A 2025, 'Promoting the use of recycled plastics: a taxing issue', Environmental Law Review, vol. 27, no. 1, pp. 42-49. https://doi.org/10.1177/14614529251328783

Working paper

Farida, S, Farag, H & Liu, J 2025 'Top management political ideology and ESG disclosure: Evidence from S&P 500 firms ' pp. 1-68.

View all publications in research portal

Expertise

Sustainable finance, responsible investment, green finance, SWF, ESG