欧美高清

Publications

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Financial Regulation Innovation Lab White Paper Series Financial Regulation Innovation Lab White Paper Series (2026)

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Financial Regulation Innovation Lab White Paper Series Financial Regulation Innovation Lab White Paper Series (2026)

Ibrahim Salma, , Elmarzouky Mahmoud, Al鈥怟ilani Mahmoud

Abacus Vol 61, pp. 857-896 (2025)

Bukovski Kal, , , , , Khang Zi

Financial Regulation Innovation Lab White Paper Series Financial Regulation Innovation Lab White Paper Series (2025)

Owens Steve, ,

Financial Regulation Innovation Lab White Paper Series Financial Regulation Innovation Lab White Paper Series (2025)

, , , Su Yang

International Review of Financial Analysis Vol 105 (2025)

Teaching

I have delivered classes at 欧美高清 Business School since joining at 2019, and I have had the pleasure of engaging with students who have gone on to pursue great careers in the financial technology ecosystem, and the broader financial services sector. I 听have been co-director of the MSc Financial Technology at 欧美高清 Business School since 2019. I created, and currently teach, the Fintech Innovations, Applications and Considerations and Textual Analysis for Finance postgraduate modules. Until 2025, I was responsible for delivering the Corporate Financing module for honours year students.

Each year I supervise end-of-year financial technology projects for postgraduate students, and finance-related undergraduate honours year dissertations. Previously, I delivered the Financial and Financial Management module to students in our Glasgow and Dubai campuses, and I previously taught the Future of Fintech module for the MSc Strategic Fintech in Bahrain.

I have been shortlisted for "Best in Faculty - Business" at the 欧美高清 Teaching Excellence Awards听in 2021 and 2022.

Research Interests

My research explores various aspects of financial technology and includes working with novel unstructured datasets such as text, audio and earth observation data in a finance context.

More recently, my research has investigate applications of Explainable, Generative and Agentic AI to financial problems. I also conduct research in more traditional areas of corporate finance and financial markets.

As a co-investigator within the Financial Regulation Innovation Lab (FRIL), funded by the UK Government via Innovate UK, I am responsible for the joint coordination of research activities undertaken Research Associates Hao Zhang and Kushagra Jain and Senior Research Fellow Steve Owens. FRIL听produces industry-relevant research and white papers on the topic of financial regulation and regulatory technology.

I have succesfully supervised one PhD student through to completion, and I am currently supervisor for a number of doctoral students. Phindu Lipenga is investigating the determinants of fintech adoption in Sub-Saharan Africa. Ngoc Anh Chu is evaluating the application of explainable AI and text-audio analysis for transparent ESG reporting. Martin Kemmitt is investigating the hedging activity of firms listed on the AIM submarket of the London Stock Exchange. Zihong Chen is conducting research into the effectiveness of machine learning algorithms for the detection of money laundering. I supervise one MPhil student, Aliya Khan, who is applying transformer models to investigate the relationship between equity and bond markets in light of climate-related announcements.

I have acted as reviewer for manuscripts submitted to the European Journal of Finance, Business Strategy and the Environment, Intelligent Systems in Accounting, Finance and Management听and Qualitative Research in Financial Markets.

My recent multimodal (text-audio) research has been made possible thanks to access to the (a company affiliated with ), while my earth observation work generally employs open-source models for analysis.

Professional Activities

Interviewee

24/3/2024

Interviewee

21/3/2024

Participant

24/1/2024

External Examiner

15/1/2024

Peer reviewer

8/1/2024

Participant

13/12/2023

Projects

Crippa, Lorenzo (Principal Investigator) Bowden, James (Co-investigator) Riccardi, Annalisa (Co-investigator)

01-Jan-2026 - 31-Jan-2027

Cummins, Mark (Principal Investigator) Basu, Devraj (Co-investigator) Bowden, James (Co-investigator) Shaw, Eleanor (Co-investigator) Tapinos, Efstathios (Co-investigator)

01-Jan-2025 - 31-Jan-2026

Owens, Steven Robert (Principal Investigator) Bowden, James (Co-investigator) Cummins, Mark (Co-investigator) Macdonald, Malcolm (Co-investigator) McKee, David (Co-investigator) White, Chris (Co-investigator)

01-Jan-2024 - 31-Jan-2025

Bowden, James (Principal Investigator) Cummins, Mark (Principal Investigator)

This project is funded by a Research Excellence Award (REA) for approximately 拢74,000 under the 欧美高清 Research Studentship Scheme (SRSS).

Environmental, Social and Governance (ESG) credentials are of growing strategic importance for businesses, with ESG investing being increasingly prioritised by investors. Accurate ESG scoring of corporations is of paramount importance. ESG scoring systems in practice, however, have major weaknesses: (1) opaqueness in the proprietary methods used by private ESG scoring agencies; (2) observed inconsistencies in the ESG scores reported by alternative private ESG scoring systems (Berg et al., 2019); and (3) the extent of missing ESG scores across the population of corporations. Our proposed research directly addresses these weaknesses.

We seek to develop cutting-edge methods that offer transparency, consistency, and wide applicability in ESG measurement. We will leverage the power of Artificial Intelligence (AI), while addressing the 鈥榖lack-box' constraint of the underlying algorithms. State-of-the-art eXplainable Artificial Intelligence (XAI) techniques will be used, providing explainable outcomes. Such 鈥榳hite-box' XAI techniques will lead to transparent measurement of firms鈥� ESG performance, reconciliation of inconsistencies in existing ESG scoring systems, and wider application to the base of corporations.

The main contribution of our work will be the novel development and application of Natural Language Processing (NLP) based XAI approaches (Danilevsky et al., 2020) for textual-based measurement of ESG. Further contribution will be made by extending this work through the augmentation of textual analysis with audio characteristics of corporate earnings calls (such as manager pitch, tone and hesitancy), thus establishing an NLP classifier based on multiple modes of communication that may further enhance the reliability of our explainable ESG scoring approaches.

02-Jan-2023 - 01-Jan-2026

Cummins, Mark (Principal Investigator) Basu, Devraj (Co-investigator) Bowden, James (Co-investigator) Revie, Matthew (Co-investigator) Shaw, Eleanor (Co-investigator)

01-Jan-2023 - 31-Jan-2025

Marshall, Andrew (Co-investigator) Bowden, James (Principal Investigator) Lipenga, Phindu (Principal Investigator)

Why digital banking adoption in Malawi has been limited and can the successes in the United Kingdom be emulated to the Malawi environment?

10-Jan-2021