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Assistant Professor

Dr. Tonmoy Choudhury


Dr. Tonmoy Choudhury has joined the King Fahd University of Petroleum and Minerals from Edith Cowan University, Australia where he was coordinating and lecturing Risk management in Financial Market and Institutions. In 2021, he has won the prestigious Emerald Literary Award for his works on risk spillover of U.S. states. His research focuses on the multidisciplinary implication of financial management with a strong focus on risk spillover. He has finished his Ph.D. in Banking from Western Sydney University in 2019. He also holds a bachelor’s in accounting from Macquarie University, a master’s in finance from Australian National University, and an M.Phil. in Management from the University of Wales, UK. He has published in several prestigious journals including Journal of International Financial Markets, Institutions & Money, Production Planning & Control, Finance research Letter, Pacific accounting review, Global Finance Journal, and International Journal of Agile Systems and Management. These publications have given him the acceptability of a financial market specialist around the world. Two of his publications have been accepted and communicated by World Health Organization as COVID-related research. His interview on the impact of the Coronavirus was published in the Australian national news portal “The Wire”. He has also done numerous TV segments for international broadcasters. He is currently serving as Non-executive Director at The Commercial Education Society of Australia. He has received three external research grants as chief investigator totaling over 200K. He has also received three internal grants from ECU. In 2019 he has received the commerce discipline award from the business school of Edith Cowan University. He is currently serving on several editorial boards of prominent journals where he is actively guest editing special issues on contemporary topics.


Doctor of Philosophy (2018), Western Sydney University, Australia, (AACSB).

Master of Philosophy (2015), Aberystwyth University, UK (AMBA).

Master of Business (2011), Australian National University, Australia (QS WORLD RANK 31).

Bachelor of Commerce (2010) (CPA/CA Accredited), Macquarie University, Australia (AACSB).


Financial contagion

Risk management in banking

Geographical systemic risk spillover

Islamic financial institutional risk analysis

Recent Research

Batten JA , Choudhury T, Kinateder H and Wagner N.  Volatility Impacts on the European Banking Sector: GFC and COVID-19. Annals of Operations Research. 2022.

Kinateder H, Choudhury T, Zaman R, Scagnelli S, Sohel N. Does boardroom gender diversity decrease credit risk in the financial sector? Worldwide evidence. Journal of International Financial Markets, Institutions, and Money. 2021.

Choudhury T, Kamran M. Djajadikerta HG, Sarker, T. Can Banks Sustain the Growth in Renewable Energy Supply? An International Evidence. The European Journal of Development Research. 2021.

Kinateder H, Campbell R, Choudhury T. Safe haven in GFC versus COVID-19: 100 turbulent days in the financial markets. Finance Research Letters. 2021.

Kamran M, Choudhury T. Enhancing the Efficiency of Credit Card Service Delivery through Service Innovation: A Case Study. International Journal of Agile Systems and Management. 2021.

Hassan MK, Djajadikerta HG, Choudhury T, Kamran M. Safe havens in Islamic financial markets: COVID-19 versus GFC. Global Finance Journal. 2021.

Choudhury T, Scagnelli S, Yong J, Zhang Z. Non-Traditional Systemic Risk Contagion within the Chinese Banking Industry. Sustainability. 2021.

Yoon D, Choudhury T, Saha A, Rashid M. Contagion risk: Cases of Islamic and Emerging Market Banks. International Journal of Islamic and Middle Eastern Finance and Management. 2021.

Choudhury T, Daly K. Systemic risk contagion within US states. Studies in Economics and Finance. 2021;38.

Choudhury T, Romel KKU, Jie F, Djajadikerta HG. Managing reverse exchange in the service supply chain using role activity diagram: a case study of credit card complaint management. International Journal of Agile Systems and Management. 2020.

Saha AK, Saha B, Choudhury T, Jie F. Quality versus volume of carbon disclosures and carbon reduction targets: Evidence from UK higher education institutions. Pacific Accounting Review. 2019.

Daly K, Batten JA, Mishra AV, Choudhury T. Contagion risk in the global banking sector. Journal of International Financial Markets, Institutions, and Money. 2019.

Choudhury T, Rashid MB. Knowledge management overview of feature selection problem in high-dimensional financial data: cooperative co-evolution and MapReduce perspectives. Problems and Perspectives in Management. 2019.

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