Professor Arif Khurshed

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Profile photo of: Professor Arif Khurshed Email: Show Email Address
Position: Professor of Finance
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Academic unit: Accounting and Finance


I completed my PhD from the ICMA Centre, University of Reading and joined the University of Manchester as a post-doctoral research associate in 1999. A year later I took up a lectureship in Finance. I was promoted to Senior Lecturer in May 2005 and then to Professor of Finance in August 2013.

I am an Associate Editor (Book reviews) for the British Accounting Review and have been an external consultant to the UK Financial Conduct Authority (formerly FSA) and the British Venture Capital Association (BVCA). I am one of the founding members of the British Northern Universities India Forum (BNUIF) which was setup in 2008 to produce and disseminate research surrounding issues of economic development in India.

Research Interests

My research interests include:

  • Studies of Initial Public Offerings (IPOs) with particular emphasis on their pricing mechanisms, contractual agreements, corporate governance, their impact on capital structure and post-IPO survival.
  • Private equity: risk and returns of venture capital syndicates
  • Investment preferences of institutional investors
  • Connections (political and bank) and firm performance
  • Share repurchase programmes
  • Trade credit
  • Financial inclusion and literacy

Programme involvement

Specialist fields




Publication summary




Showing 31 publication(s)



  • Abdioglu, N., Bamiatzi, V., Cavusgil, S. T., Khurshed, A., & Stathopoulos, K. (2015). Information Asymmetry, Disclosure and Foreign Institutional Investment: An Empirical Investigation of the Impact of the Sarbanes-Oxley Act. International Business Review, 24(5), 902-915. DOI: 10.1016/j.ibusrev.2015.04.001. Publication link: b06606f5-07e3-461c-95cd-ea4a3ffa43d1
  • Espenlaub, S., Khurshed, A., Mohamed, A., & Saadouni, B. (2015). IPO Survival and Institutional Investment. In host publication.. Publication link: 1d6a0648-afa5-4da5-9fca-de279bccc535
  • Abdulla, Y., Dang, V. A., & Khurshed, A. (2015). The Use of Trade Credit by Public and Private Firms: An Empirical Investigation. In FMA Annual Meetings.. Publication link: 7ac460b2-8b44-46de-9b37-b69b250c0e06




  • Khurshed, A., Buchner, A., & Mohamed, A. (2012). Private Equity: Risk and Return Profile. In Alternative Investments (eds, H. Kent Baker and Greg Filbeck): Robert W. Kolb series in Finance. New Jersey: John Wiley & Sons . . Publication link: 0674ad99-bfc1-4db0-ab96-0b1c4b607817


  • Khurshed, A. (2011). The Mechanics and Performance of Initial Public Offerings. (1st ed.) (Finance Essentials). UK: Harriman House.. Publication link: 57da9c88-0abf-4352-8ef4-6078e7361375




  • Espenlaub, S., Khurshed, A., Goergen, M. G., Filatotchev, I. (Ed.), & Wright, M. (Ed.) (2005). Governance Implications of Locked-in Venture Capitalists (VCs) and Founder Owners in Newly-floated UK Companies. In The Life Cycle of Corporate Governance. Edward Elgar. . Publication link: 9467d5d3-9b25-470d-b223-572afa846f7c


  • Espenlaub, S., Khurshed, A., Goergen, M. G., Renneboog, L., & McCahery, J. (Ed.) (2003). Lock-in Agreements in Venture Capital Backed UK IPOs. In VC Contracting and Valuation of High-Tech Firms. Oxford University Press. . Publication link: a331e308-cce9-4a27-906d-16b351413f1f
  • Khurshed, A., Goergen, M. G., & Renneboog, L. (2003). The Rise and Fall of the European New Markets: On the short- and long-run performance of high tech initial public offerings. In VC Contracting and Valuation of High-Technology Firms. Oxford University Press. . Publication link: c377c088-d8a6-4ff0-a88f-cd7712b46579