Sarwar Uddin Ahmed, PhD

Professor Sarwar Uddin Ahmed is currently the Professor and Dean of the School of Business at ULAB. Prior to joining ULAB, he served as the founding Dean of Academic Affairs for the Monash and UoL-LSE programs at Universal College Bangladesh (UCB). Before that, he was the Dean and Professor of Finance at the School of Business and Entrepreneurship (SBE) at Independent University, Bangladesh (IUB). He has completed post-doctoral studies at the University of California, Berkeley (2018) and McNeese State University (2011-12), USA, as a two-time recipient of the Fulbright Scholar Award. Recently, he has successfully completed the Japan Foundation Fellowship on ESG Risk Management (2022-2023). Professor Ahmed has authored over 100 articles, books, book chapters, reports, and conference papers. His research has been published in various esteemed journals, including Corporate Social Responsibility and Environmental Management, Journal of Sustainable Finance & Investment, Cogent Economics & Finance, Sage Open, Global Business Review, and International Journal of Environment and Sustainable Development.

Program Affiliation
School of Business
Bachelor of Business Administration (BBA)
Master of Business Administration (MBA)
Executive Master of Business Administration (EMBA)
Education

FVS (Climate Finance), University of California, Berkeley (as a Fulbright Scholar) USA, 2018-2019

Post-doctoral (Green Banking) McNeese State University, (as a Fulbright Scholar) USA, 2011-2012    

PhD (Environmental Finance) Nagasaki University, Nagasaki, Japan, 2004

MEcono (Finance) Nagasaki University, Nagasaki, Japan, 2001                         

MCom (Banking) University of Dhaka, 1994

BCom (Hons.) (Finance) University of Dhaka, 1993

Areas of Interest

ESG (Environmental, Social, and Governance) risk management, climate finance, corporate social responsibility, corporate governance, capital market, behavioral finance.

Invited Talk

  • Does it pay to incorporate Environmental, Social, and Governance (ESG) Criteria in Lending? Evidence from the Banking Sector of Bangladesh, Faculty of Economics, Nagasaki University, 11 January 2023.

  • AEI International Webinar Series featuring Professor Sarwar Uddin Ahmed; Topic: Linkage between Social Responsibility and Institutional Investment: Evidence from Bangladesh; University of Malaya, 18th June 2020.

  • Climate Change Adaptation Concepts in Bangladesh: Achievements and Transferability, 2018 HSSA Symposium, University of California, Berkeley, 2018.

  • Does it pay to be socially responsible in Bangladesh? Institute for South Asia Studies, University of California, Berkeley, 23 October 2018.

  • Behavioral Factors Influencing Investors’ Decision and Performance: The Case of an Emerging Market. St Anne's College, University of Oxford, 2017.

  • Linkage Between Corporate Social Performance and Stock Return: An Evidence from Financial Sector of Bangladesh, International Conference for Bankers and Academics 2016, jointly organized by Bangladesh Institute of Bank Management & Australian Academy of Business and Social Sciences in association with Journal of Developing Areas, Tennessee State University, 2016.

  • Corporate Social Performance of Bangladeshi exchange listed companies, International Conference for Business and Economics, Harvard University, 2015.

  • The Relationship between Institutional Investment and Corporate Social Performance: A Comparative Analysis between 2008 and 2012”, 6th International Conference on Corporate Sustainability and Responsibility, Humboldt University of Berlin, Germany, 2014.

Journal Articles
  1. Ahmed, S. U., Ahmed, S.P., Hasan, I and Karmaker, U. (2024). How Far Bangladesh Is Adapted to Climate Change? Evidence from Coastal Areas Applying Climate Change Adaptation Index, International Journal of Sustainable Development and Planning, 19 (8) 2825-2837: 28618
  2. Roy, T., Bhuiyan, R. A., Ahmed, S. U., Abdullah, M. (2024). Geopolitical conflict and firm bankruptcy risk, Finance Research Letters, 68: 106005
  3. Ahmed, S. U., Ahmed, S.P., Abdullah, M. and Karmaker, U. (2022). Do socio-political factors affect investment performance? Cogent Economics & Finance, 10: 2113496.
  4. Ahmed, S. P., Ahmed, S. U. and Hasan, I. (2021). Transformation of Sociocultural Integration Policy and Inherent Political Theories in the United Kingdom: A Way Forward. SAGE Open. doi:10.1177/21582440211007461.
  5. Hasan, I., Ahmed, S. P., Ahmed, S. U. and Yousuf, T. B. (2021). Factors Influencing Users’ Willingness for Online Messaging Services: A Developing Country Perspective. International Journal of Mobile Communications, 19 (1), 75-98.
  6. Ahmed, S. U., Ahmed, S.P., Mizan, R., Karmaker, U. (2020). Institutional Investment and Corporate Social Performance: Aggregated Time-Series Evidence from an Emerging Economy. Journal of Sustainable Finance and Investment, doi: 10.1080/20430795.2020.1815509.
  7. Ahmed, S.P., Ahmed, S. U., Noor, M. F., Ahmed, Z. and Karmaker, U. (2019). The policy-led sustainability and financial performance linkage in the banking sector: the case of Bangladesh. Banks and Bank Systems, 14 (4), 89-103.
  8. Zahid, A., Noor, M. F., Ahmed, Z., Ahmed, S. P., Ahmed, S. U.  (2019). The Financial Feasibility of Expanding Nationally and Globally: The Case of a Shipbuilding Company in Bangladesh. Independent Business Review, Special Issue,1-18.
  9. Ahmed, S. U., Ahmed, S. P., Hasan, I. (2018). Why banks should consider ESG Risk Factors in Bank Lending? Banks and Bank Systems, 13 (3), 71-80.
  10. Ullah, G. M., Ahmed, S. P., Ahmed, S. U., Mahtab, F., (2018). Valuation of Startup Firms: A Case Study on Pathao. Independent Business Review, 11 (1-2), 1-51.
  11. Hasan, M. H., Mahbub, T., Mallick , S.M., Ahmed, S. U. (2018). Dulal Brothers Ltd. (DBL) Group: Going Global. Independent Business Review, 11 (1-2), 1-51.
  12. Ahmed, S. U., Sultana, E., Mahtab, H.  Islam, M. Z., Hasan, I., Ullah, G. M. and Ahmed, S. P. (2017). Does It Pay to Be Socially Responsible? Comparative Evidence from a Developing Country.  Global Business Review, 18 (5), 1-21.
  13. Ahmed, S. U., Mahtab, N, Islam, N, Abdullah, M. (2017). Impact of Working Capital Management on Profitability: A Study on Textile Companies of Bangladesh. J Bus Fin Aff 6: 292. doi: 10.4172/2167-0234.1000292
  14. Mahta,b N., Islam, M. N., Ahmed, S. P., and Ahmed, S. U. (2017). Social Business and It’s Sustainability: A Case Study on “Aponjon” Project of D.Net, Bangladesh. International Journal of Economics, Commerce and Management, V (7), 377-389.
  15. Ahmed, S. U., Abdullah, M., and Ahmed, S. P., (2017). Linkage Between Corporate Social Performance And Stock Return: An Evidence from Financial Sector of Bangladesh. Journal of Developing Areas, 51 (2), 287-299.
  16. Ullah, G. M., Ahmed, S. U.,  Ahmed, SP,  Jamshed, KM (2017). Do Multinational Companies Practice Good Corporate Governance: Empirical Evidence from Bangladesh. International Journal of Accounting and Financial Reporting, 7 (2), 96-111.
  17. Ahmed, S. P., Zannat, R., and Ahmed, S. U., (2017). Corporate Governance Practices in the Banking Sector of Bangladesh: Do They Really Matter?” Banks and Bank Systems, 12 (1), 27-35.
  18. Ahmed, S. U., Mahtab N., Ahmed, S. P., Ullah, G. M., and Das, S., (2017). Sustainability of a Third Generation Commercial Bank in Bangladesh: Analysis of its Business Model. International Journal of Economics, Commerce and Management, 5 (4), 266-286.
  19. Hoque, M.A., Alam, S. & Ahmed, S. U. (2017). Job re-designing for improving productivity: A case study of Aboni knitwear limited. Canadian Journal of Case Studies, 8(2).
  20. Ahmed, S. U., Ullah, G. M., Ahmed, S. P., and Rahman, A. (2016). An Empirical Study on Corporate Governance and Islamic Bank Performance: A Case Study of Bangladesh. Journal of Finance & Banking Studies, 5 (4), 103-116.
  21. Ahmed., S. U., Ahmed, S. P., Islam, N. M., and Ullah, G. M., (2015). Impact of Basel II Implementation on the Financial Performance of Private Commercial Banks of Bangladesh, European Journal of Economics, Finance and Administrative Sciences, 77, 73-84.
  22. Ahmed, S. P., Ahmed, S. U., and Ullah, G. M., (2015). Assimilation vs. Integration: Dimensions and Dynamics of Contemporary Integration Policies of the UK. The International Journal of Community Diversity, Common Ground Publishing, 15 (3), 5-50.
  23. Ahmed, S. U. and Rahman, M. (2014). Incorporating ESG Risk in Bank-Lending in Bangladesh. International Journal of Finance and Economics, 120, 23-34.
  24. Ahmed, S. U., Rahman, M. A., Ahmed, S. P. and Ullah, G. M. (2014). Pricing linkage between Islamic banking and conventional banking: The case of Bangladesh. International Journal of Finance & Banking Studies, 3 (4).
  25. Ahmed, S. U., Islam, Z., Mahtab, H. and Hasan, I. (2014). Institutional Investment and Corporate Social Performance: Linkage towards Sustainable Development. Corp. Soc. Responsib. Environ. Mgmt. 21, (1), 1-13.
  26. Ahmed, S. U., Rahman, S. and Uchida, S. (2013). Does it pay to be innovative? Evidence from the SMEs in Japan. The Business Review of AGU. 54 (1), 65-72.
  27. Ahmed, S. U., Quiyum, Z. M.  and Noor, M. F. (2013). Dynamic Linkages between Macroeconomic Factors and Stock Prices: Evidence from an Emerging Market. Oorja International Journal of Management & IT. 11 (3), 17-25.
  28. Ahmed, S. U., and Uchida, S.  (2012). Environmental Risk Management Practice of Banks. The Business Review of AGU, 91(4), 55-66.
  29. Ahmed, S. U. (2012). Green Banking: Advancement and Opportunities. Journal of Business and Economics, 92 (1 & 2), 1-12.
  30. Ahmed, S. U., Islam, Z., Mahtab, H. and Hasan, I. (2012). Construction and Application of a Corporate Social Performance Index in the Context of Bangladesh. Independent Business Review, 5 (1), 27-46.
  31. Ahmed, S. U., Islam, M. Z. and Hasan, I. (2012). Corporate Social Responsibility and Financial Performance Linkage: Evidence from the Banking Sector of Bangladesh. J. Org. Management, 1(1), 14-21.
  32. Uchida, S., Ahmed, S. U. and Islam, M. Z. (2012). Corporate Governance and Equity Returns, Journal of Business and Economics, 91(4), 109-117.
  33. Ahmed, S. U., Uchida, S. and Islam, M. Z. (2012). Stock Market Crashes: Reasons and Implications. Journal of Business and Economics, 91(4), 55-66.
  34. Islam, M. Z., Ahmed, S. M., Hasan, I. and Ahmed, S. U. (2011). Organizational Culture and Knowledge Sharing: Empirical Evidence From Service Organizations. African Journal of Business Management Vol. 5 (14), 5900-5909.
  35. Uchida, S., Ahmed, S. U. and Aabed, A. A. (2011). Corporate Governance and Firm Performance in the Financial Sector. Annual Review of Southeast Asian Studies, 52, 107-115
  36. Ahmed, S. U. (2011). Measuring the Willingness to Pay for Hazard-Free E-waste Management in Dhaka City, Bangladesh, WP-Series 40002, Development Research Network, Dhaka.
  37. Ahmed, S. U. (2011). Informal Sector E-waste Recycling Practices in Bangladesh. Research Paper Series 60010, Development Research Network, Dhaka.
  38. Uchida, S., Ahmed, S. M., and Ahmed, S. U. (2011). Automation and Financial Performance of Banks. Annual Review of Economics, 27, 49-56.
  39. Chowdhury, M.E. and Ahmed, S. U. (2010). Poverty-environment nexus: an investigation of linkage using survey data. Int. J. Environment and Sustainable Development, 9 (1-3), 91–113.
  40. Ahmed, S. U. (2010) E-waste: a growing concern for ICT-based growth and development- a first cut analysis. Research Paper Series 60007, Development Research Network, Dhaka.
  41. Ahmed, S. U. and Uchida, S. (2010). Benchmarking the State of Corporate Governance in Bangladesh. Journal of Business and Economics, 89 (3), 155-167.
  42. Uchida, S., Ahmed, S. U. and Huq, S. (2010). A Comparison of Reported and Disclosed Corporate Governance Compliance Status in the Banking Sector of Bangladesh. Annual Review of Southeast Asian Studies, 51, 87-97.
  43. Ahmed, S. U. and Uchida, S. (2009). Corporate Social Responsibility and Financial Performance Linkage: A Preliminary Study for the Conceptual Framework. Annual Review of Southeast Asian Studies, L, 43-51.
  44. Gotoh, K, Imaoka, Y, Nakagawa, H., Huchi, Y. and Ahmed, S. U. (2008). Social Evaluation of  Land Usage in the Isahaya Bay Reclamation Project by Applying CVM.  Journal of Nagasaki University Faculty of Engineering, 38 (70), 20-24.
  45. Habib, S.A., Ahmed, S. U. and Uchida, S. (2007). Environmental and Social Responsibilities of Banks: Global Perspective. Journal of Business and Economics, 87(2).
  46. Ahmed, S. U., and Gotoh, K. (2007). The Choice of Elicitation Method in CVM and Their Impact on Willingness to Pay in Environmental Assessment. Journal of Nagasaki University Faculty of Engineering, 37(6), 8.
  47. Ahmed, S. U., and Gotoh, K. (2007). Estimation of the Willingness to Pay for Preserving Public Parks in Nagasaki City by Using Contingent Valuation Method. Journal of Nagasaki University Faculty of Engineering, 37 (68).
  48. Ahmed, S. U. and Uchida, S. (2006). Corporate Social Responsibility: Benefit, Current Status and Future Trend. Journal of Business and Economics, 85(5).
  49. Uchida, S. and Ahmed, S. U. (2006). The Financial Institutions for Common People and Socio-economic Development Policies: Lessons from Some Selected Case Studies. Journal of Business and Economics, 85(3 & 4), 470-481.
  50. Ahmed, S. U. and Gotoh, K. (2006). Cost-Benefit Analysis of the Northern Extension Project of Nagasaki City Streetcar by Applying Contingent Valuation Method. Journal of Environmental Information Science, CEIS, 34-5, 37-46.
  51. Ahmed, S. U. and Uchida, S. (2005). Impact of Relationship Banking on the Performance of Corporate Firms: A Comparison between Japan and Bangladesh. Journal of Business and Economics, 83-3, 237-245.
  52. Ahmed, S. U. and Uchida, S. (2005). Contemporary Strategic Aspects of Relationship Banking in Japan. Annual Review of Economics, 21, 49-59.
  53. Ahmed, S. U., and Gotoh, K. (2005). Effect of Banning Polythene Bags in Reducing Flood Disasters in Dhaka City. Papers of Natural Disaster Research Council, 29, 109-112.
  54. Ahmed, S. U., and Gotoh, K. (2005). Impact of Banning Polythene Bags: A Case Study on Bangladesh. Papers of Geo-Engineering Research Council, 69-74.
  55. Ahmed, S. U., Gotoh, K., and Tachiiri, K. (2005). The Difference between Stated and Measured Travel Data and Their Impact on Environmental Valuation by Travel Cost Method. Journal of Faculty of Engineering 35 (65).
  56. Uchida, S. and Ahmed, S. U.  (2004). The Role of Relationship Banking on the Performance of Japanese Firms: An Empirical Study on Small and Medium Enterprises. Annual Review of Southeast Asian Studies, XLVI, 13-21.
  57. Ahmed, S. U., Gotoh, K., and Tachiiri, K. (2004). Economic Environmental Impact Assessment by Combining CVM and Remote Sensing Techniques. Journal of Environmental Information Science, CEIS, 32-5, 135-142.
  58. Ahmed, S. U. and Uchida, S. (2004). Effect of Higher Financial Leverage on Corporate Borrowers in Bangladesh. Annual Review of Southeast Asian Studies, XLV, 13-20.
  59. Gotoh, K., Ahmed, S. U., and Kojima, H. (2003). Free Comments in Contingent Valuation Survey and Their Effect on Willingness to Pay. Papers on Environmental Information Science, Center for Environmental Information Science, 17, 123-128.
  60. Ahmed, S. U., Gotoh, K., and Kojima, H. (2003). Estimating the Willingness to Pay for Restoring the Isahaya Bay Wetland: Evidence from Contingent Valuation Method. Journal of Environmental Systems and Engineering. 734/VII-27, 157-165.
  61. Ahmed, S. U. and Uchida, S. (2003) Multiple Banking Practices and its Impact on the Corporate Borrowers- A Case Study of Bangladesh. Journal of Business and Economics, 83-3, 245-258.
  62. Yosumi, T., Kojima, H, Ahmed, S. U., and Gotoh, K. (2003). Study on Environmental Value of Tidal Flat by CVM. Papers on Ocean Development, 19, 279-284. (in Japanese).
  63. Ahmed, S. U., Kojima, H., and Gotoh, K. (2002). Cost-Benefit Analysis of the Isahaya Bay Reclamation Project by Applying Contingent Valuation Method. Papers on Environmental Information Science, Center for Environmental Information Science, 16, 305-310.
  64. Gotoh, K., Ahmed, S. U., and Kojima, H. (2002). Environmental Evaluation of the Isahaya Bay Wetland: Preliminary Tests for Designing Appropriate CVM Questionnaire. Journal of JSCE, 87 (8), 71-74.
  65. Ahmed, S. U. and Fukaura, A. (2001). Bank-firm Relationship in Bangladesh: Present State and Some Lessons. Journal of Business and Economics, 79 (4), 27-64.
  66. Ahmed, S. U. (2000). Experience of Some Least Affected Countries from the Asian Financial Crisis and Lessons for Bangladesh.  Bank Parikrama. XXV (2&3), 31-44.
Books

  1. Ahmed, S. U., and Gotoh, K. “Cost-benefit Analysis of Environmental Goods by Applying the Contingent Valuation Method: Some Japanese Case Studies,” Springer-Verlag, Tokyo-Japan, 2006. URL: https://link.springer.com/book/10.1007/4-431-28950-X

  2. Ahmed, S. U, and Hasan, M. K.  “Foundations of Financial Management”, Second Edition, Brothers Publications, 2015.

Book Chapters

  1. “Banking Relationships in East Asian Economies: Lessons for Developing Countries” Chapter 6 in Studies on Financial Markets in East Asia, ed by Masayuki Susai and Shigeru Uchida: World Scientific Publishing Co., 2011.

  2. Relationship Banking and Firm Profitability” Chapter 4 in Studies on Financial Markets in East Asia, ed by Masayuki Susai and Shigeru Uchida: World Scientific Publishing Co., 2011.

  3. “The Role of Relationship Banking on the Performance of Firms in Bangladesh” Chapter 8 in Advances in Development Economics, ed by Dipak Basu : World Scientific Publishing Co., 2008.

Awards and Fellowships
  • Japan Foundation Fellowship (2022-23).
  • Most Outstanding Professor Award, World Education Forum (2020).
  • Fulbright Visiting Scholar (2018-19) United States Department of State, University of California, Berkeley.
  • Fulbright Scholar Award (2011-12) for post-doctoral study, United States Department of State.
  • Environmental Science Paper Award (2005), for the outstanding paper of 2005 awarded by the Center for Environmental Information Science (CEIS), Tokyo, Japan.
  • Nagasaki University President Award (2004) for serving as the founding General Secretary of the Nagasaki University Foreign Students Association (NUFSA).
  • Japanese Government (Monbukagakusho) Scholarship (2001-2004), for the PhD Program in Graduate School of Science and Technology, Nagasaki University, Japan.
  • Nagasaki University President Award (2001) for securing first place (Summa Cum Laude) Master of Economics (Finance), obtaining CGPA 4/4.
  • Audience Nominated Best Speaker Prize in the 10th Annual Japanese Language Speech Contest (1998).
  • Judges Selection Prize in the 10th Annual Japanese Language Speech Contest (1998)
  • IBBL  Award (1994) for outstanding result in the Master of commerce exam (Banking).
  • Jalal Ahmed Gold Medal (1993) for securing first class first position in the Bachelor of Commerce exam (Finance).
Courses Taught
FIN 501:Financial Management
FIN 601:Investment Theory & Portfolio Management
BUS 302:Financial Management