Mirza Nawazish ELAHI

Mirza Nawazish ELAHI Research Active Faculty - Full Professor
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    • Department
      Finance Department
    • Teaching specialisations
      Corporate Finance, Financial Analysis and Reporting, Investment Management and Asset Pricing, Mergers and Acquisitions, Financial Risk Management , International Finance
    • Areas of research
      Financial Intermediation, Valuations, Risk Management, Asset Pricing and Funds Management, New Technologies in Finance
    • Campus
      La Rochelle

    Biography

    Dr Mirza Elahi obtained a Doctorate in Management Science, specialising in Finance, from the University of Paris Dauphine in 2010. He has more than 15 years of experience in consulting and teaching in Australia, Singapore, the United Arab Emirates and France.

    His areas of teaching and research focus on Financial Intermediation, Financial Valuation, Risk Management and Financial Statement Analysis.

    Dr Elahi regularly appears in renowned international media (CNBC, China Daily, Gulf News etc.) talking about international economic and financial issues.

    He is also the editor in chief of the Journal of Risk Finance, co-editor of Economic Research, associate editor of Journal of Sustainable Finance and Investment, and guest editor of Energy Economics, Resources Policy, and Climate Change Economics.

  • 2010

    PhD in Finance, Université Paris IX Dauphine, France

    2007

    Master (Research Orientation) in Finance, Université Paris IX Dauphine, France

    2003

    Master (Professional Orientation) Banking and Finance, Université de Lille, France

  • 2022

    Editor in Chief, Journal of Risk Finance,

    2021

    Associate Editor, Journal of Sustainable Finance & Investment,

    2021

    Research Active Faculty - Full Professor, Excelia, La Rochelle, France

    2021

    Editor, Economic Research,

    2019-2021

    Associate Professor & Research Active Faculty

  • Journal articles

    ZHONG, M., UMAR, M., MIRZA, N., SAFI, A. (2024). Mineral resource Optimization: The Nexus of sustainability, digital transformation, and green finance in OECD economies. Resources Policy, 90, 104829. doi:10.1016/j.resourpol.2024.104829.
    CHEN, Z., MIRZA, N., UMAR, M., SAWTARI, Z., XIE, X. (2024). Mineral resource investments and mutual funds performance: A remedy for recovery in BRICS. Resources Policy, 91, 104871. doi:10.1016/j.resourpol.2024.104871.
    ELAHI, M. N., UMAR, M., SBIA, R., JASMINA, M. (2024). The impact of blue and green lending on credit portfolios: a commercial banking perspective. Review of Accounting and Finance. doi:10.1108/RAF-11-2023-0389.
    ZHOU, X., CHEN, H., ELAHI, M. N., SAFI, A. (2024). Greening mineral resources extraction: A pathway to carbon neutrality through energy productivity and institutional reform. Resources Policy, 91, 104961. doi:10.1016/j.resourpol.2024.104961.
    ELAHI, M. N., RIZVI, S. K. A., NAQVI, B., UMAR, M. (2024). Inflation prediction in emerging economies: Machine learning and FX reserves integration for enhanced forecasting. International Review of Financial Analysis, 94, 103238. doi:10.1016/j.irfa.2024.103238.
    ZHAO, Q., WANG, L., STAN, S.-E., ELAHI, M. N. (2024). Can artificial intelligence help accelerate the transition to renewable energy? Energy Economics, 134, 107584. doi:10.1016/j.eneco.2024.107584.
    MIRZA, N., UMAR, M., HOROBET, A., BOUBAKER, S. (2024). Effects of climate change and technological capex on credit risk cycles in the European Union. Technological Forecasting and Social Change, 204, 123448. doi:10.1016/j.techfore.2024.123448.
    ALI, S., NAVEED, M., AL-NASSAR, N. S., ELAHI, M. N. (2024). Mineral Metamorphosis: Tracing the static and dynamic nexus between minerals and global south markets. Resources Policy, 96, 105222. doi:10.1016/j.resourpol.2024.105222.
    ZENG, H., YUNIS, M., KHALIL, A., ELAHI, M. N. (2024). Towards a conceptual framework for AI-driven anomaly detection in smart city IoT networks for enhanced cybersecurity. Journal of Innovation & Knowledge, 9 (4), 100601. doi:10.1016/j.jik.2024.100601.
    UMAR, M., ELAHI, M. N., UMAR, Z., SOKOLOVA, T. (2024). Green recovery in BRICS economies: The role of mineral resources, energy productivity, and green innovation in sustainable development. Resources Policy, 98, 105353. doi:10.1016/j.resourpol.2024.105353.
    LIU, Z., ELAHI, M. N., YOU, R., ZHAN, Y. (2024). Understanding the complexity of futures markets investing in China: evidence from deep learning techniques. Annals of Operations Research. doi:10.1007/s10479-024-06277-x.
    ELAHI, M. N., NAEEM, M. A., HA NGUYEN, T. T., ARFAOUI, N., OLIYIDE, J. A. (2023). Are sustainable investments interdependent? The international evidence. Economic Modelling, 119, 106120. doi:10.1016/j.econmod.2022.106120.
    ELAHI, M. N., AFSAL, A., UMAR, M., SKARE, M. (2023). The Impact of Green Lending on Banking Performance: Evidence from SME Credit Portfolios in the BRIC. Economic Analysis and Policy.
    AFZAL, A., ELAHI, M. N., FIRDOUSI, S. (2023). Do Depositors Discipline The Banking Sector? Evidence From An Emerging Economy. Review of Accoounting and Finance.
    ELAHI, M. N. (2023). Covid-19 Vaccines and Investment Performance: Evidence from Equity Funds in European Union. Finance Research Letters.
    ARFAOUI, N., NAEEM, M. A., BOUBAKER, S., ELAHI, M. N., KARIM, S. (2023). Interdependence of Clean Energy and Green Markets with Cryptocurrencies. Energy Economics. doi:10.1016/j.eneco.2023.106584.
    ELAHI, M. N. (2023). The Interaction of Climate Risk and Bank Liquidity: An Emerging Market Perspective for Transitions to Low Carbon Energy. Technological Forecasting and Social Change.
    ELAHI, M. N. (2023). What drives gearing in early-stage firms? Evidence from Blue Economy Startups. Journal of Business Research.
    ELAHI, M. N. (2023). The Impact of Female Dominance on Business Resilience: A Technology Adoption Perspective. Journal of Business Research.
    LV, W., ELAHI, M. N., UMAR, M., CHEN, W. (2023). The Nexus of Climate Crisis and Asset Liability Management in Frontier Economies. Technological Forecasting and Social Change.
    ELAHI, M. N. (2023). The Politics of Climate: Does Factionalism Impede U.S. Carbon Neutrality? Economic Analysis and Policy, 78.
    SKARE, M., GAVUROVA, B., POLISHCHUK, V., ELAHI, M. N. (2023). A fuzzy model for evaluating the level of satisfaction of tourists regarding accommodation establishments according to social class on the example of V4 countries. Technological Forecasting and Social Change.
    LI, T., UMAR, M., ELAHI, M. N., YUE, X.-G. (2023). Green Financing and Resources Utilization: A Story of N-11 Economies in the Climate Change Era. Economic Analysis and Policy.
    WANG, F., MA, W., ELAHI, M. N., ALTUNUAS, M. (2023). Green Financing, Financial Uncertainty, Geopolitical Risk, and Oil Prices Volatility. Resources Policy, 83.
    ELAHI, M. N., NAQVI, B., RIVZI, A. S. K., BOUBACKER, S. (2023). Exchange Rate Pass-Through and Inflation Targeting Regime under Energy Prices Shocks. Energy Economics.
    ELAHI, M. N., ELHOSENY, M., UMAR, M., METAWA, N. (2023). Safeguarding FinTech innovations with Machine Learning: Comparative Assessment of Various Approaches. Research in International Business and Finance.
    QIN, M., ELAHI, M. N., SU, C.-W., UMAR, M. (2023). Exploring Bubbles in the Digital Economy: The Case of China. Global Finance Journal, 57, 100871. doi:10.1016/j.gfj.2023.100871.
    SHAN, S., MIRZA, N., UMAR, M., HASNAOUI, A. (2023). The nexus of sustainable development, blue financing, digitalization, and financial intermediation. Technological Forecasting and Social Change, 195, 122772. doi:10.1016/j.techfore.2023.122772.
    NAQVI, B., MIRZA, N., UMAR, M., RIZVI, S. K. A. (2023). Shanghai crude oil futures: Returns Independence, volatility asymmetry, and hedging potential. Energy Economics, 107110. doi:10.1016/j.eneco.2023.107110.
    XIE, X., MIRZA, N., UMAR, M., JI, X. (2023). Covid-19 and market discipline: Evidence from the banking sector in emerging markets. International Review of Economics and Finance. doi:10.1016/j.iref.2023.10.042.
    DHAHRI, S., OMRI, A., MIRZA, N. (2023). Information technology and financial development for achieving sustainable development goals. Research in International Business and Finance, 102156. doi:10.1016/j.ribaf.2023.102156.
    UMAR, M., MARTINOVIĆ, D., MANGAFIC, J., ELAHI, M. N. (2023). The impact of governance on equity funds performance during stable and turbulent market conditions. International Journal of Business Governance and Ethics, 1 (1). doi:10.1504/IJBGE.2023.10059974.
    RIZVI, S. K. A., NAQVI, B., MIRZA, N., UMAR, M. (2022). Safe haven properties of green, Islamic, and crypto assets and investor's proclivity towards treasury and gold. Energy Economics, 115, 106396. doi:10.1016/j.eneco.2022.106396.
    SU, C.-W., MIRZA, N., UMAR, M., CHANG, T., ALBU, L. L. (2022). Resource extraction, greenhouse emissions, and banking performance. Resources Policy, 79, 103122. doi:10.1016/j.resourpol.2022.103122.
    RIZVI, S. K. A., NAQVI, B., ELAHI, M. N. (2022). Is green investment different from grey? Return and volatility spillovers between green and grey energy ETFs. Annals of Operations Research, 313 (1), 495-524. doi:10.1007/s10479-021-04367-8.
    ELAHI, M. N., ABBAS RIZVI, S. K., SABA, I., NAQVI, B., YAROVAYA, L. (2022). The resilience of Islamic equity funds during COVID-19: Evidence from risk adjusted performance, investment styles and volatility timing. International Review of Economics and Finance, 77, 276-295. doi:10.1016/j.iref.2021.09.019.
    YU, B., LI, C., ELAHI, M. N., UMAR, M. (2022). Forecasting credit ratings of decarbonized firms: Comparative assessment of machine learning models. Technological Forecasting and Social Change, 174, 121255. doi:10.1016/j.techfore.2021.121255.
    REDDY, K., ELAHI, M. N., YAHANPATH, N. (2022). Capital Structure Determinants During the Sovereign Debt Crisis Period. Australasian Business, Accounting and Finance Journal, 16 (4), 29-63. doi:10.14453/aabfj.v16i4.04.
    KARIM, S., NAEEM, M. A., ELAHI, M. N., PAULE-VIANEZ, J. (2022). Quantifying the hedge and safe-haven properties of bond markets for cryptocurrency indices. Journal of Risk Finance, 23 (2), 191-205. doi:10.1108/JRF-09-2021-0158.
    YAN, L., ELAHI, M. N., UMAR, M. (2022). The cryptocurrency uncertainties and investment transitions: Evidence from high and low carbon energy funds in China. Technological Forecasting and Social Change, 175, 121326. doi:10.1016/j.techfore.2021.121326.
    KARIM, S., KHAN, S., ELAHI, M. N., ALAWI, S. M., TAGHIZADEH-HESARY, F. (2022). Climate finance in the wake of covid-19: connectedness of clean energy with conventional energy and regional stock markets. Climate Change Economics, 13 (03). doi:10.1142/S2010007822400085.
    GUO, X., LIANG, C., UMAR, M., ELAHI, M. N. (2022). The impact of fossil fuel divestments and energy transitions on mutual funds performance. Technological Forecasting and Social Change, 176, 121429. doi:10.1016/j.techfore.2021.121429.
    ABBAS RIZVI, S. K., YAROVAYA, L., ELAHI, M. N., NAQVI, B. (2022). The impact of COVID-19 on the valuations of non-financial European firms. Heliyon, 8 (6), e09486. doi:10.1016/j.heliyon.2022.e09486.
    CHEN, Z., ELAHI, M. N., HUANG, L., UMAR, M. (2022). Green Banking—Can Financial Institutions support green recovery? Economic Analysis and Policy, 75, pp. 389-395.
    SHAN, S., UMAR, M., ELAHI, M. N. (2022). Can robo advisors expedite carbon transitions? Evidence from automated funds. Technological Forecasting and Social Change, 180, 121694. doi:10.1016/j.techfore.2022.121694.
    RIZVI, S. K. A., NAQVI, B., BOUBAKER, S., ELAHI, M. N. (2022). The power play of natural gas and crude oil in the move towards the financialization of the energy market. Energy Economics, 112, 106131. doi:10.1016/j.eneco.2022.106131.
    UMAR, M., JI, X., ELAHI, M. N., LI, H. (2022). Crypto swings and the performance of carbon-intensive equity funds in China. Resources Policy, 78, 102786. doi:10.1016/j.resourpol.2022.102786.
    DENG, W., AKRAM, R., ELAHI, M. N. (2022). Economic performance and natural resources: Evaluating the role of economic risk. Resources Policy, 78, 102840. doi:10.1016/j.resourpol.2022.102840.
    XU, B., LI, S., AFZAL, A., ELAHI, M. N., ZHANG, M. (2022). The impact of financial development on environmental sustainability: A European perspective. Resources Policy, 78, 102814. doi:10.1016/j.resourpol.2022.102814.
    UMAR, M., ELAHI, M. N., ABAIDI, J., ROCHOŃ, M. P. (2022). The nexus of carbon emissions, oil price volatility, and human capital efficiency. Resources Policy, 78, 102876. doi:10.1016/j.resourpol.2022.102876.
    YAROVAYA, L., ELAHI, M. N. (2022). The price reaction and investment exposure of equity funds: evidence from the Russia–Ukraine military conflict. Journal of Risk Finance, 23 (5), 669-676. doi:10.1108/JRF-07-2022-0174.
    SU, C.-W., RIZVI, S. K. A., NAQVI, B., ELAHI, M. N., UMAR, M. (2022). COVID19: A blessing in disguise for European stock markets? Finance Research Letters, 49, 103135. doi:10.1016/j.frl.2022.103135.
    UMAR, M., ELAHI, M. N., RIZVI, S. K. A., NAQVI, B. (2022). ESG scores and target price accuracy: Evidence from sell-side recommendations in BRICS. International Review of Financial Analysis, 84, 102389. doi:10.1016/j.irfa.2022.102389.
    LEI, Y.-T., MA, C.-Q., ELAHI, M. N., REN, Y.-S., NARAYAN, S. W., CHEN, X.-Q. (2022). A renewable energy microgrids trading management platform based on permissioned blockchain. Energy Economics, 115, 106375. doi:10.1016/j.eneco.2022.106375.
    PAN, C., SUN, T., ELAHI, M. N., HUANG, Y. (2022). The pricing of low emission transitions: Evidence from stock returns of natural resource firms in the GCC. Resources Policy, 79, 102986. doi:10.1016/j.resourpol.2022.102986.
    UMAR, M., JI, X., ELAHI, M. N., RAHAT, B. (2021). The impact of resource curse on banking efficiency: Evidence from twelve oil producing countries. Resources Policy, 72, 102080. doi:10.1016/j.resourpol.2021.102080.
    ELAHI, M. N., SU, C.-W., SUN, T., AHMAD, S., MIRZA, N. (2021). Does institutional quality and remittances inflow crowd-in private investment to avoid Dutch Disease? A case for emerging seven (E7) economies. Resources Policy, 72, 102111. doi:10.1016/j.resourpol.2021.102111.
    YAROVAYA, L., MIRZA, N., ABAIDI, J., HASNAOUI, A. (2021). Human Capital efficiency and equity funds’ performance during the COVID-19 pandemic. International Journal of Economics and Finance, 71, pp. 584-591.
    JIAO, Z., SHAHID, M. S., MIRZA, N., TAN, Z. (2021). Should the fourth industrial revolution be widespread or confined geographically? A country-level analysis of fintech economies. Technological Forecasting and Social Change, 163, 120442. doi:10.1016/j.techfore.2020.120442.
    AFZAL, A., ELAHI, M. N., ARSHAD, F. (2021). Market discipline in South Asia: Evidence from commercial banking sector. International Journal of Finance and Economics, 26 (2), 2251-2262. doi:10.1002/ijfe.1904.
    SUN, T.-T., SU, C.-W., ELAHI, M. N., UMAR, M. (2021). How does trade policy uncertainty affect agriculture commodity prices? Pacific Basin Finance Journal, 66, 101514. doi:10.1016/j.pacfin.2021.101514.
    WANG, K.-H., XIONG, D.-P., ELAHI, M. N., SHAO, X.-F., YUE, X.-G. (2021). Does geopolitical risk uncertainty strengthen or depress cash holdings of oil enterprises? Evidence from China. Pacific Basin Finance Journal, 66, 101516. doi:10.1016/j.pacfin.2021.101516.
    UMAR, M., ELAHI, M. N., RIZVI, S. K. A., FURQAN, M. (2021). Asymmetric volatility structure of equity returns: Evidence from an emerging market. Quarterly Review of Economics and Finance. doi:10.1016/j.qref.2021.04.016.
    UMAR, M., JI, X., ELAHI, M. N., RAHAT, B. (2021). The impact of resource curse on banking efficiency: Evidence from twelve oil producing countries. Resources Policy, 72, 102080. doi:10.1016/j.resourpol.2021.102080.
    SU, C.-W., SUN, T., AHMAD, S., ELAHI, M. N. (2021). Does institutional quality and remittances inflow crowd-in private investment to avoid Dutch Disease? A case for emerging seven (E7) economies. Resources Policy, 72, 102111. doi:10.1016/j.resourpol.2021.102111.
    SUN, Y., ELAHI, M. N., QADEER, A., HSUEH, H.-P. (2021). Connectedness between oil and agricultural commodity prices during tranquil and volatile period. Is crude oil a victim indeed? Resources Policy, 72, 102131. doi:10.1016/j.resourpol.2021.102131.
    ABAIDI, J., RIZVI, S. K. A., REDDY, K., ELAHI, M. N., NAQVI, B. (2021). Human capital efficiency, performance, market, and volatility timing of asian equity funds during COVID-19 outbreak. Journal of Asset Management, 22 (5), 360-375. doi:10.1057/s41260-021-00228-y.
    UMAR, M., JI, X., ELAHI, M. N., NAQVI, B. (2021). Carbon neutrality, bank lending, and credit risk: Evidence from the Eurozone. Journal of Environmental Management, 296, 113156. doi:10.1016/j.jenvman.2021.113156.
    JI, X., ZHANG, Y., ELAHI, M. N., UMAR, M., RIZVI, S. K. A. (2021). The impact of carbon neutrality on the investment performance: Evidence from the equity mutual funds in BRICS. Journal of Environmental Management, 297, 113228. doi:10.1016/j.jenvman.2021.113228.
    TAGHIZADEH-HESARY, F., RASOULINEZHAD, E., YOSHINO, N., SARKER, T., ELAHI, M. N. (2021). Determinants of the Russia and Asia–Pacific energy trade. Energy Strategy Reviews, 38, 100681. doi:10.1016/j.esr.2021.100681.
    NAQVI, B., ELAHI, M. N., RIZVI, S. K. A., PORADA-ROCHOŃ, M., ITANI, R. (2021). Is there a green fund premium? Evidence from twenty seven emerging markets. Global Finance Journal, 50, 100656. doi:10.1016/j.gfj.2021.100656.
    JI, X., CHEN, X., ELAHI, M. N., UMAR, M. (2021). Sustainable energy goals and investment premium: Evidence from renewable and conventional equity mutual funds in the Euro zone. Resources Policy, 74, 102387. doi:10.1016/j.resourpol.2021.102387.
    ELAHI, M. N., HASNAOUI, A., RAHAT, B. (2020). Credit Quality and Stock Returns of Commercial Banks. Economics Bulletin, 40 (1), 1-17.
    NASEER, A., SU, C.-W., MIRZA, N., LI, J.-P. (2020). Double jeopardy of resources and investment curse in South Asia: Is technology the only way out?. Resources Policy, 68, 101702. doi:10.1016/j.resourpol.2020.101702.
    RIZVI, S. K. A., ELAHI, M. N., NAQVI, B., RAHAT, B. (2020). Covid-19 and asset management in EU: a preliminary assessment of performance and investment styles. Journal of Asset Management. doi:10.1057/s41260-020-00172-3.
    MIRZA, N., NAQVI, B., RAHAT, B., RIZVI, S. K. A. (2020). Price reaction, volatility timing and funds’ performance during Covid-19. Finance Research Letters, 36, 101657. doi:10.1016/j.frl.2020.101657.
    JIAO, Z., SHAHID, M. S., MIRZA, N., TAN, Z. (2020). Should the fourth industrial revolution be widespread or confined geographically? A country-level analysis of fintech economies. Technological Forecasting and Social Change, 163, 120442. doi:10.1016/j.techfore.2020.120442.
    ELAHI, M. N., NAQVI, B., RAHAT, B., RIZVI, S. K. A. (2020). Price reaction, volatility timing and funds’ performance during Covid-19. Finance Research Letters, 36, 101657. doi:10.1016/j.frl.2020.101657.
    LI, J. -P., ELAHI, M. N., RAHAT, B., XIONG, D. (2020). Machine learning and credit ratings prediction in the age of fourth industrial revolution. Technological Forecasting and Social Change, 161, 120309. doi:10.1016/j.techfore.2020.120309.
    ELAHI, M. N., RAHAT, B., NAQVI, B., RIZVI, S. K. A. (2020). Impact of Covid-19 on corporate solvency and possible policy responses in the EU. Quarterly Review of Economics and Finance. doi:10.1016/j.qref.2020.09.002.
    ELAHI, M. N., REDDY, K., HASNAOUI, A., YATES, P. (2019). A Comparative Analysis of the Hedging Effectiveness of Farmgate Milk Prices for New Zealand and United States Dairy Farmers. Journal of Quantitative Economics. doi:10.1007/s40953-019-00172-0.
    ELAHI, M. N., NAQVI, B., RIZVI, S., REDDY, K. (2018). Religion based investing and illusion of Islamic Alpha and Beta. Pacific Basin Finance Journal, 52, 82-106. doi:https://dx.doi.org/10.1016/j.pacfin.2018.02.003.
    ELAHI, M. N., K.REDDY, "Asset Pricing in a Developing Economy: Evidence from Pakistan", Economics Bulletin, November 2017, vol. 37, no. 4, pp. 2483-2495
    ELAHI, M. N., B.NAQVI, W.NAQVI, S.RIZVI, "Portfolio optimisation with higher moments of risk at the Pakistan Stock Exchange", Economic Research - Ekonomska Istrazivanja, June 2017, vol. 30, no. 1, pp. 1594-1610
    ELAHI, M. N., S.CHAUDHRY, "Domestic and cross-border returns to bidders in acquisitions into the E.U.", Economic Research - Ekonomska Istrazivanja, May 2017, vol. 30, pp. 1021-1032
    ELAHI, M. N., RAHAT, B., REDDY, K. (2016). Financial leverage and stock returns: evidence from an emerging economy. Economic Research - Ekonomska Istrazivanja, 29 (1), pp. 85-100.
    ELAHI, M. N., RAHAT, B., REDDY, K. (2015). Business Dynamics, Efficiency, Asset Quality and Stability: The Case of Financial Intermediaries in Pakistan. Economic Modelling, 46, 358-363. doi:https://doi.org/10.1016/j.econmod.2015.02.006.
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