Hi, welcome to my webpage! I am an Associate Professor of Finance at the Henley Business School, University of Reading. I completed my PhD in Finance at Warwick Business School in 2014 and worked at the University of Bristol Business School from 2014 to 2025.

My research lies in the areas of banking and corporate finance, with particular interests in bank competition and the role of regulation. In my models, I strive to derive conditions under which the laissez-faire outcome is inefficient despite the use of optimal contracts, and regulatory intervention can improve the equilibrium. E.g., in JFE 2022, good banks signal by restricting leverage but sometimes prefer to pool with bad banks even if this is socially undesirable. In this case, the regulator imposes minimum capital requirements to ensure separation. I often combine informational frictions to derive (hopefully) new insights. E.g., in JFI 2024, CRAs strategically introduce a hidden-types problem by coarsening information communication in order to relax an effort moral hazard problem. 

e-mail: s.biswas (at) henley.ac.uk