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PROFESSIONAL PROFILE
PROFESSIONAL PROFILE
Dr. Tanveer Bagh is a Postdoctoral Research Fellow in the Department of Finance, School of Economics and Wang Yanan Institute for Studies in Economics (WISE), Xiamen University, China, and an Assistant Professor at ILMA University, Pakistan. He is also a Postdoctoral Research Associate in the Lincoln Global Postdoctoral Research Programme at Lincoln University College (LUC), Malaysia (August 2026–Present, Remote).
He holds a PhD in Finance from the Central University of Finance and Economics (CUFE), Beijing, and was awarded the Chinese Government Scholarship (CSC) and the CUFE Outstanding Doctoral Research Award for his doctoral dissertation, “ESG Investment, Climate Change Risk, and Corporate Value under a Real-Option Framework: A Global Perspective.” His doctoral research examines sustainable investment, climate risk, corporate value, resilience, and strategic decision-making under uncertainty.
Dr. Bagh's research interests span Sustainable Finance, Corporate Finance, ESG Investing, Climate Finance, Corporate Governance, Digital Finance, and Financial Innovation. His work applies real-options theory, empirical asset pricing, financial econometrics, machine learning, artificial intelligence, textual analysis, natural language processing, and large language models (LLMs) to contemporary financial and corporate problems.
His broader research agenda encompasses green finance, ESG and sustainability, climate-change risk, biodiversity risk, sustainable development, green growth, digital finance, FinTech, and AI in Finance, with particular emphasis on firm resilience, corporate investment, financial risk, market efficiency, and long-term sustainable growth. His research also includes the development and application of ESG and sustainability indices and the analysis of corporate responses to climate, technological, and financial risks.
Methodologically, he employs advanced econometric and statistical techniques, including Difference-in-Differences (DiD), Instrumental Variables (IV), panel fixed effects, dynamic panel models, quantile regression, machine-learning classification, and causal inference methods. He has extensive experience using Stata, R, and Python, together with data analytics and visualization tools including SQL, Power BI, Tableau, and Bloomberg Terminal.
His research has been published in SSCI-, ABDC-, ABS-, and Scopus-indexed journals, including International Review of Financial Analysis (IRFA), Research in International Business and Finance (RIBAF), Review of Quantitative Finance and Accounting (RQFA), Borsa Istanbul Review (BIR), International Review of Economics & Finance (IREF), International Journal of Finance & Economics (IJFE), Journal of Portfolio Management (JPM), Journal of Alternative Investments (JAI), Journal of Applied Economics (JAE), Financial Innovation, Corporate Governance, Global Business Review, Corporate Reputation Review, Risk Management, Management Decision, and Finance Research Letters, among others. He has also contributed book chapters to Digital Banking & Finance: A Handbook and The Palgrave Handbook of Green Finance.
Dr. Bagh serves on the Editorial Board of Quantitative Finance and Financial Statistical Journal, as well as the Asian Journal of Economic Modelling, and is an Advisory Board Member of Archives of Management and Social Sciences. He regularly serves as a reviewer for international journals, including Journal of Business Research, International Review of Financial Analysis, International Journal of Finance & Economics, Research in International Business and Finance, International Review of Economics & Finance, Finance Research Letters, Sustainable Development, and Financial Innovation. He has also been invited as a Keynote Speaker at the 16th International Conference on Advanced Management Science (ICAMS 2025).
Research Areas
Research Areas
Sustainable Finance and ESG Investing
Corporate Finance and Empirical Asset Pricing
Climate Finance, Climate Risk and Green Finance
Corporate Governance and Institutional Investors
Financial Risk Management and Risk Modelling
Biodiversity Risk and Sustainable Development
Digital Finance, FinTech and Financial Innovation
Machine Learning and Artificial Intelligence in Finance
Financial Econometrics and Causal Inference
Textual Analysis, NLP and LLMs in Finance
Real Options, Corporate Investment and Growth Opportunities
Market Efficiency and Financial Markets
Contact: +92 306 5147793
baghtanveer@gmail.com, baghtanveer@xmu.edu.cn, 2021630008@email.cufe.edu.cn, tanveerbagh01@gmail.com
Publications
Publications
Bagh, T., Hunjra, A. I., Guo, Y., & Bouri, E. (2024). Corporate capital structure in BRICS economies: An integrated analysis of ESG, firm, industry, and macroeconomic determinants. International Journal of Finance & Economics. https://doi.org/10.1002/ijfe.3036. ABS-A-3- ABDC-A-SSCI
Bagh, T., Zhou, B., Alawi, S. M., & Azam, R. I. (2024). ESG resilience: Exploring the non-linear effects of ESG performance on firms’ sustainable growth. Research in International Business and Finance, 70, 102305. https://doi.org/10.1016/j.ribaf.2024.102305.ABDC-A-SSCI-Q1
Bagh, T., Fuwei, J., & Khan, M. A. (2024). Corporate ESG investments and a firm's value under the real-option framework: evidence from two world-leading economies. Borsa Istanbul Review, 24(2), 324-340. https://doi.org/10.1016/j.bir.2024.01.002. SSCI Q1-ABDC-B
Bagh, T., Bouri, E., Riaz, H., & Iftikhar, K. (2026). Corporate Sustainability Practices, Governance, and Risk‐Taking: Global Evidence. International Journal of Finance & Economics.ABS-A-3- ABDC-A-SSCI
Shabbir, M. N., Iftikhar, K., Bagh, T., & Naseer, M. M. (2026). Does Financial Stability Withstand Economic Policy Uncertainty? Insights From Linear and Nonlinear Patterns. Journal of Public Affairs, 26(1), e70098.ABS-1,ESCI
Bagh, T., Hunjra, A. I., Ntim, C., & Naseer, M. M. (2025). Capitalizing on risk: How corporate financial flexibility, investment efficiency, and institutional ownership shape risk-taking dynamics. International Review of Economics & Finance, 104068. https://doi.org/https://doi.org/10.1016/j.iref.2025.104068 ABDC-A-SSCI-Q1
Bagh, T., Khan, M. A., Naseer, M. M., & Iftikhar, K. (2024). Does financial flexibility drive a firm's risk‐taking in emerging markets? The moderating role of investment efficiency. Managerial and Decision Economics. https://doi.org/10.1002/mde.4337.ABS-B-SSCI-Q1
Bagh, T., Hunjra, A. I., & Kossai, M. (2024). Greening the Corporate Landscape: Governance Practices, Green Innovation, and Sustainable Development. Journal of Alternative Investments. https://doi.org/10.3905/jai.2024.1.212. ABS-2
Bagh, T., Bouri, E. and Khan, M.A. (2024), "Climate change sentiment, ESG practices, and firm value: international insights," China Finance Review International. https://doi.org/10.1108/CFRI-07-2024-0381.ABDC-A-ABS
Bagh, T., Khan, M. A., Fenyves, V., & Olah, J. U. D. I. T. (2023). Asymmetric Effect of Investors' Sentiments on Herding Behavior and Stock Returns: Pre and Post Covid-19 Analysis. Montenegrin Journal of Economics, 19(1), 43-55 http://doi.org/10.14254/1800-5845/2023.19-1.4.ABS-1
Hunjra, A. I, Bagh, T., Palma, A., & Goodell, J. W. (2024). Is enterprise risk-taking less sensitive to financial flexibility post-COVID-19? Evidence from non-linear patterns. International Review of Financial Analysis, 95, 103432. https://doi.org/10.1016/j.irfa.2024.103432.ABS-A-3- ABDC-A-SSCI-Q1
Bagh, T., Khan, M. K., Hull, R., & Naseem, M. (2025). Climate Change Risks and Firm Value: The Mitigating Role of CSR Engagement. 2025. Financial Innovation.ABS-B- ABDC-A-SSCI-Q1
Naseer, M. M., Guo, Y., Bagh, T., & Zhu, X. (2024). Sustainable investments in volatile times: Nexus of climate change risk, ESG practices, and market volatility. International Review of Financial Analysis. https://doi.org/10.1016/j.irfa.2024.103492.ABS-A-3- ABDC-A-SSCI-Q1
Bagh, T., Khan, M. A., Meyer, N., & Riaz, H. (2023). Impact of boardroom diversity on corporate financial performance. Humanities and Social Sciences Communications. https://doi.org/10.1057/s41599-023-01700-3.SSCIQ1
Bagh, T., Fuwei, J., & Khan, M. A. (2024). From risk to resilience: Climate change risk, ESG investments engagement and Firm's value. Heliyon, 10(5). https://doi.org/10.1016/j.heliyon.2024.e26757. -SSCI-Q1
Abdul.w., Bagh. T., (2025). Litigation risk, green innovation and corporate reputation: empirical evidence from China.Journal of Asia Business Studies. https://doi.org/10.1108/JABS-12-2023-0522 .ABS-1
Naseer, M. M., Khan, M. A., Bagh, T., Guo, Y., & Zhu, X. (2024). Firm climate change risk and financial flexibility: Drivers of ESG performance and firm value. Borsa Istanbul Review, 24(1), 106-117. https://doi.org/10.1016/j.bir.2023.11.003.SSCI-Q1-ABDC-B
Waheed, A., Hussain, S., Bagh, T., Malik, Q. A., & Ashfaq, R. (2024). Litigation Risk, Ownership Structure and Payout Policy: An Agency Theory Perspective. Global Business Review, 0(0). https://doi.org/10.1177/09721509241263740.ABS-ESCI
Naseer, M. M., Hunjra, A. I., Palma, A., & Bagh, T. (2025). Sustainable development goals and environmental performance: Exploring the contribution of governance, energy, and growth. Research in International Business and Finance, 73, 102646. ABS-B-ABDC-A SSCI-Q1
Muzammil, M., Ali, M. M., Bagh, T., & Khan, M. A. (2024). Exchange rate movements and trade balance in developing economies: Evidence of symmetry and country-specific asymmetries. The Journal of International Trade & Economic Development. https://doi.org/10.1080/09638199.2024.2389871.ABS-ESCI-SSCIQ1
Iftikhar, K., Bagh, T., (2024). The Dichotomy of Corporate Litigation Risk in Shaping ESG Disclosure: Does Green Innovation Matter? Research In International Business and Finance. https://doi.org/10.1016/j.ribaf.2024.102744.ABS-ABDC-A-SSCIQ1
Iftikhar, K., Bagh, T., & Khan, M. A. (2024). The Role of Corporate Governance in the Nexus between Litigation Risk and Corporate Innovation. Borsa Istanbul Review. https://doi.org/10.1016/j.bir.2024.04.005.SSCIQ1-ABDC-B-
Bagh, T., Waheed, A., Khan, M. A., & Naseer, M. M. (2023). Effect of economic policy uncertainty on China’s stock price index: a comprehensive analysis using wavelet coherence approach. SAGE Open. https://doi.org/10.1177/21582440231210368.SSCIQ1
Bagh, T., Naseer, M. M., Khan, M. A., Pypłacz, P., & Oláh, J. (2023). Sustainable growth rate, corporate value of US firms within capital and labor market distortions: The moderating effect of institutional quality. Oeconomia Copernicana. https://doi.org/10.24136/oc.20.SSCIQ1
- Iftikhar, I., Khan, M.A., Shabbir, M.N. Bagh. T. (2025). Exploring the Nexus between Trade Openness, Innovation, and Total Factor Productivity in BRICS and D-8 Economies. Equilibrium. Quarterly Journal of Economics and Economic Policy.https://doi.org/10.24136/eq.3253-ESCI-Q1
- Shabbir, M.N., Iftikhar, I., Bagh. T., Muhammad Nadir Shabbir. (2025). Governance in action: transforming the financial landscape through innovation among developing countries. Journal of Applied Economics. https://doi.org/10.1080/15140326.2025.2542766.ABS-ABDC
- Bagh, T., Hunjra, A. I., & Corbet, S. (2025).The impact of corporate governance on firm value: Understanding the role of strategic change. International Review of Economics & Finance. https://doi.org/10.1016/j.iref.2025.104472. -ABS-3-A-ABDC-A-SSCIQ1
- Iftikhar, I., Bagh. T., M.A., Shabbir, M.N.(2025).Corporate Reputation Gains from Green Innovation: Moderating Effects of Subsidies and Eco-Friendly Products.Research in International Business and Finance. https://doi.org/10.1016/j.ribaf.2025.103108 .ABS-ABDC
- Iftikhar, K., Bouri, E., Riaz, H., & Iftikhar, K. Bagh, T., (2026). Reputational Consequences of Corporate Litigation: The Moderating Role of Governance and Market-Based Signaling Channels in the Chinese Market. Corporate Reputation Review. Corporate Reputation Review. ABS-ABDC
- Iftikhar, K., Yang, C., & Bagh, T. (2025). Litigation risk and corporate reputation in emerging market: the role of green innovation. Risk Management. https://doi.org/10.1057/s41283-025-00183-7(HEC-W, SSCI-Q2, ABDC-B). Among others ............................................
Working Papers/ In Process
Managerial Myopia Through Textual Analysis and Its Role in the Nexus of ESG Disclosure and Corporate Economic Sustainability. Bagh, T., Hunjra, A. I.
ESG Performance, Real Option Growth, and Firm Value: Global Insights and Policy Implications. Bagh, T., Hunjra, A. I.
Do Corporate Valuations Reflect Climate Change Risk in Global Markets? What Does Corporate Climate Governance Have to Do with It? agh, T., Naseer, M. M.
Breaking the Glass Ceiling: Do Female CFOs Reduce Stock Price Crash Risk in Emerging Markets? Fareed, M. A., Feng, F., Hunjra, A. I., Bagh, T
Books Chapters
Bagh, T., Iftikhar, K. (2024). Understanding the Theoretical Context of Green Finance. In the Palgrave Handbook of Green Finance for Sustainable Development.
Bagh, T., Iftikhar, K. (2024). Digital Assets in Disarray: Unraveling Herd Behavior Amidst COVID-19 and the Russian-Ukraine War. In Digital Banking and Finance: A Handbook.
Neenu C., Rufsha., Bagh.T. (2025). Riding the Waves of Uncertainty: Unveiling the Interaction Among Global Uncertainties and Sustainable Stocks in India through Wavelet Coherence and TVP-VAR. In Emerald Handbook of Climate Risk and Emerging Markets: Valuation, Volatility, and Portfolio Strategies.
Naseer, M. M., & Bagh, T. (2024). Building a Sustainable Future: The Impact of Corporate Social Responsibility on Firms’ Sustainable Development. In The Emerald Handbook of Ethical Finance and Corporate Social Responsibility: A Framework for Sustainable Development (pp. 623-646).
Naseer, M. M., & Bagh, T. (2024). Green Finance and Climate Challenges: Paving the Way for Economic, Social, and Governance Readiness and Sustainable Development Goals. In The Palgrave Handbook of Green Finance for Sustainable Development, 123-153.
MN Shabbir, K Iftikhar, T Bagh (2026).Case Studies Highlighting the Industrial Impact on Climate Change. Environmental, Social and Corporate Governance and Climate Risk Management.
MN Shabbir, K Iftikhar, Muhammad Nadir Shabbir, Kainat Iftikhar, Duong Thuy Linh. (2026). From Crisis to Resilience: Mobilizing Green Finance for Sustainable Development in the Asia-Pacific. Crisis, Conflict, and Climate in the Asia-Pacific Region, to be published by …
Revision Submitted Papers
Managerial Investment Strategies, Corporate Risk-Taking, and Environmental, Social, and Governance Practices: Evidence from BRICS, 2025, Corporate Governance
Does Financial Religious Practices for Achieving SDG Goal of Poverty Alleviation: 2025, Book Chapter. Faith-Based Finance and Sustainability by Emerald and Scopus.
Working Papers
Corporate Ethical Culture and Stakeholders Value Creation: Quantifying Ethics through Large Language Models
Board Gender Diversity and ESG Investments: An ESG-Specific Strategic Change Perspective
Does Ethical Culture Curb ESG Greenwashing? Evidence from LLM-Measured Text
Corporate Ethical Culture, Accounting Conservatism, and Sustainable Value Creation: Evidence from LLM-Measured Text
Climate Change sentiments and corporate sustainability: A stakeholder Capitalism Perspective
Post Doc Fellow, at Xiamen University China (2025-2026)
Scool of Economics (XU)
Wang Yanan Institute for Studies in Economics (WISE), Xiamen University, China
Editioral Board: Quantitative Finance | Financial Statistical Journal
PhD. Sustainable Finance (2021-2025)
MS in Management Science: Finance
Master of Business Administation (MBA) Finance
Manager Audit and Complance
Field Trainer–Financial Literacy Program: State Bank of Pakistan (2020), under the national financial literacy program of the Asian Development Bank
Lecturer Finance , Department of Finance and Economics, Faculty of Business Administration at ILMA University
Lect. Accounting and Finance
He has been awarded the CSC Government PhD Scholarship and received the Central University of Finance and Economics (CUFE) ''Doctoral Research Award'' as a prestigious recognition for outstanding academic excellence and impactful research. Awarded for the PhD dissertation titled "ESG Investment, Climate Change Risk, and Corporate Value under a Real-Option Framework: A Global Perspective," presenting groundbreaking insights into sustainable finance, corporate resilience, and strategic decision-making in an evolving global economy.
Postdoctoral Research Associate: Lincoln University College (LUC), Malaysia, Lincoln Global Postdoctoral Research Programme August 2026 – Present-Remote
Postdoctoral Research Associate
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