Institute of European Finance, Bangor Business School

The Institute of European Finance conducts topical and innovative academic research in banking, finance, accounting, and data analytics. Drawing on the wide experience of our core and associate members, the Centre offers expert analysis of current issues and challenges facing the banking and financial sectors. The Centre works with multilateral organisations, national governments, regulatory authorities, and public and private financial institutions to promote evidence-based policy decisions, competitiveness within the industry, economic growth, and to achieving more inclusive economies and societies.

Our Mission Statement

The Research Centre leverages Bangor Business School global reputation in banking and finance research to focus on addressing national and international environmental, social and economic issues. Since its foundation in 1973, the Institute of European Finance has a mission of leading cutting-edge research that has a real impact on the banking and finance industries, and to disseminate its outputs through publications, conferences, and events..

About Us

The Centre has a proven track record of successfully delivering major projects and research consultancies, supervising postgraduate to a high standard, and engaging with industry participants at all levels. Drawing on the expertise of a broad range of academics and researchers, the Institute of European Finance provides:

Access to leading experts for commissioned research
Industry standard and prominent databases for research purposes
Postgraduate opportunities
Published research materials and seminars
An unrivalled collection of specialist market research material

OUR RESEARCH PLANNING GROUPS Accounting and Governance

Members of the Accounting & Governance research planning group explore the different means and aspects of accounting (including corporate communication) and governance, in relation to a broad range of organisations and stakeholders, and using a wide range of theoretical frameworks and methodologies. The aim is to explore how organisations interact with interested audiences, via text (e.g. annual report documents, CSR report, press releases, proxy statements), financial statements, and engagement (e.g., proxy voting), and how communications, governance mechanisms, and institutions influence internal and external audiences’ perceptions and decisions, and organisational outcomes.

Emeritus staff

Professor Doris Merkl-Davies

PhD students:

OUR RESEARCH PLANNING GROUPS Credit Risk

This research planning group focuses on empirical research on credit risk. This group incorporates staff across the accounting, banking, economics and finance specialisms. The group intends to build on existing research in the School and to encourage new synergies and interdisciplinary research. Three members of the group have an established reputation in credit ratings research at Bangor over a period of more than ten years, along with an established and active PhD group. Our group members include:

External members:

Dr Noemi Mantovan - Liverpool University, UK
Dr Huong Vu - University of Aberdeen, UK
Dr Vu Tran – University of Reading, UK
Dr Thy Nguyen - University of Management and Technology Ho Chi Minh City, Vietnam

PhD Students:

To view a list of PhD projects we have an interest in supervising please visit our PhD course page.

OUR RESEARCH PLANNING GROUPS Data Analytics and Financial Innovation

The Financial Innovation & Data Analytics research group we seek to harness the power of data analytics to uncover novel insights that enhance business practices and financial markets. Our research aims to enhance decision making in business and public sector through data-driven findings. Specific key areas of focus include understanding investor trading behaviour and enhancing the detection and prevention of fraud and related misconduct particularly when related to innovations in finance.

Our group members include:

External Members:

Kota Kobayashi
‪Nikki Cornwell‬
Yun Lu

PhD Students:

Jiaxin Li

Business team working through some analytics

OUR RESEARCH PLANNING GROUPS Responsible Banking

The Responsible Banking research group brings together academics to collaborate on topical and high calibre academic research in sustainable banking, industrial structures, and regulation. Through members extensive links with multilateral organisations, regulators, and industry, the research group connects academic researchers with practitioners and policymakers to address some of the biggest questions facing the banking sector.

Our group members include:

Emeritus Staff:

External Members

PhD students:

Highlights

Due to their expertise and global reputation, members of the Institute of European Finance feature frequently in the national and international media. In addition, members often write short blogs in response to current events, disseminate research findings, and inform a wide array of stakeholders. Details of media coverage and appearances, and blogs, can be found below.

Welcome to Dr. Lara Haddad, who has joined BBS as a visiting researcher for a year from 16/04/2024. Lara is an Associate Professor of Accounting at Yarmouk University (Jordan). She will be working with Khaled on a project on the impact of Fintech on earnings management.
Ed Jones’s monthly article appears in Y Cymro this week. It focuses on former US President William McKinley, the “Napoleon of protection”. Trump has expressed admiration for McKinley because of his economic nationalism and protectionist trade policies.
On Tuesday, Ed appeared on BBC Radio Scotland (https://www.bbc.co.uk/sounds/play/m0029qg2) to give a brief history of U.S. tariffs, what lessons can be learned, and what is the likely economic impact of the current tariffs.
Ed was interviewed for the i newspaper (https://inews.co.uk/news/how-bad-trump-tariffs-3628453) and discussed possible interventions by central banks in response to the extreme financial market volatility since “Liberation Day”.
Ed appeared on Newyddion S4C (https://www.bbc.co.uk/iplayer/episodes/p02l4tp3/newyddion-s4c) discussing Cardiff Rugby going into administration and what may happen next to the business.
Congratulations to Shee Yee, who has had her paper entitled “Restraining overconfident CEOs through credit ratings” accepted for publication in European Financial Management.
Congratulations to Sadeque, who has had his paper entitled “On the Dual-Resource Overnight Charging Problem of Battery Electric Buses” accepted for publication in Applied Energy.
Ed appeared on BBC Walescast, to discuss the UK Government’s recently launched programme which aims to tackle economic inactivity, with Denbighshire, Blaenau Gwent, and Neath Port Talbot chosen as pilot areas in Wales. Available here: https://www.bbc.co.uk/sounds/play/p0l67sts.
Ed was a panel member for the S4C current affairs programme, Pawb A'i Farn. With an audience in Bala, the panel addressed tariffs, trade deals, tourism, council tax, and creating opportunities for young people in Wales. Available here: https://www.bbc.co.uk/iplayer/episode/p0l3gnr6/pawb-ai-farn-rhaglen-thu-24-apr-2025-2100.
Congratulations to Shee Yee, whose paper entitled “Islamic Bonds Ratings and the Price of Risk” has been accepted for publication in the Journal of Corporate Finance.
Khaled has presented/participated at four conferences (online) over the past few weeks:
- 13 April: Keynote speech, “Tips for International Publication”, at the First International Conference on Sustainability at Assiut University (Egypt).
- 15 April: Keynote speech, “Beyond Numbers – Corporate Narrative Reporting on Digital Technology”, at the First International Conference on Contemporary Economic Issues organized by the Faculty of Economics, Commerce, and Management Sciences at Setif 1 University, Algeria.
- 18 April: Participated in the Meet the Editor session - IHEC International Symposium 2025 “Synergizing Sustainability, Digital Innovation, and Resilience in the Green Transition Era”, Tunisia.
- 22 April: Keynote speech, “ESG in Accounting and Finance Literature”, at the 7th International Conference on Accounting, Auditing, Governance, and Sustainability: Between Theory and Practice (Kuwait).

Congratulations to Yener, who has been appointed as a Visiting Professor at the University of Calabria.
Congratulations to Binru, who has been awarded £1,540 by the Taith Research Mobility Programme.
Ed published an article in Business News Wales about the new US trade tariffs and the potential impact on the UK economy - Tariff is not the most beautiful word in the dictionary.
On Wednesday, Ian presented his work at a University of Kent webinar: “AI in Higher Education: What Happened When I Made It Mandatory in Assessments”. He will present this work to the School on 30^th April 2025.
Yener’s recently published research in the Journal of Banking & Finance - Stricter Oversight Needed As Financial Misconduct Drives Risk-Taking in Banking
The UK Chancellor of the Exchequer’s Spring Statement was a focus this week. Ed shared his views with the i Paper and Rhys spoke on Dros Frecwast on BBC Radio Cymru (00:14:00).
Matteo De Leonardis, a researcher from the University of LUM Giuseppe Degennaro, Bari, is currently visiting Bangor to work on a research paper on “Sustainability and bank efficiency” with Yener.
On Wednesday, 26th March 2025, Emmanouil Pyrgiotakis (University of Essex) will presented his paper entitled “High-frequency trading and stock price crash risk” to the BBS Research Seminar Series. Many thanks to Shee Yee for hosting this interesting session.
Dr Binru Zhao presents at the 8th ENTFIN Conference
Islamic Bonds - Shee-Yee Khoo, Assistant Professor in Finance
On Sustainable Supplier Selection and Order Allocation using Combinatorial Auctions - Dr. Sadeque Hamdan
BAFA Annual Conference 2024 - Mahmoud Abdelkader
OR66 Presentation - Dr Chris Davies
Adrian Gepp presents prestigious Royal Statistical Society (RSS) 2023 Conference
IEF member wins Association of European Operational Research Societies award
Professor Adrian Gepp presenting at the Royal Statistical Society (RSS) 2023 Conference in Harrogate
"Bangor Business School represented at EFiC Conference in Italy"
The crisis-filled clouds do have a silver lining
Why UK inflation is so high compared to EU and US and what to do about it

Working Papers and Publications

The Institute of European Finance is a name synonymous with research excellence. Members conduct rigorous academic analysis and combine knowledge and tools from different disciplines to meet current and future challenges. Details of members’ publications can be found below.