Research Direction

My primary research interests lie in the area of financial and environmental economics – including, stock market volatility; corporate governance; corporate investment and financing management; carbon emission; trade; and time-series predictability of returns.

Courses Taught

Undergraduate Courses:

International Financial Management, Investment, Microeconomics, Financial Management, International Economics, Principle of Financial Accounting

Graduate Courses:

International financial markets and management, International Financial Management, Introduction to International Business

Education Background

Ph.D.: Management Science and Engineering (Direction: Financial Management), Academy of Mathematics and Systems Science, Chinese Academy of Sciences, China

Master: MSc. in Business Management, Shenyang Aerospace University, China

Bachelor: BBA in Finance, Daffodil International University, Bangladesh

Work

Experience

1.

Organization  : Guangdong University of Foreign Studies, China

Position      : Associate Professor of Finance

Faculty      : School of Business

Duration.    : From September, 2024 to Present

2.

Organization  : University of Lancashire, United Kingdom

Position      : Program Director and Adjunct Professor

Faculty      : School of Business

Duration.    : From September, 2025 to Present

3.

Organization  : University of Central Lancashire, United Kingdom

Position      : Adjunct Faculty

Faculty      : Lancashire School of Business and Enterprise

Duration.    : From September, 2022 to August, 2025

4.

Organization  : Guangdong University of Foreign Studies, China

Position      : Assistant Professor of Finance

Faculty      : School of Business

Duration.    : From March, 2021 to August, 2024

5.

Organization  : CYLT Global, China

Position      : Project Manager

Duration.    : From April, 2019 to February, 2021

6.

Organization  : Jiujiang University, China

Position      : Adjunct Faculty

Faculty      : School of Economics and Management

Duration.    : From April, 2019 to February, 2021

7.

Organization  : Daffodil International University, Bangladesh

Position      : Senior Lecturer of Finance

Faculty      : Faculty of Business and Entrepreneurship

Duration.    : From September, 2017 to March, 2019

8.

Organization  : Academy of Mathematics and System Science, CAS, China

Position      : Research Assistant

Department  : Key Laboratory of Management, Decision and Information Systems, CAS

Duration.    : From 2014 to 2016

9.

Organization  : Daffodil International University, Bangladesh

Position      : Adjunct Faculty

Faculty      : Faculty of Business and Entrepreneurship

Duration.    : From May, 2013 to September, 2013

10.

Organization  : Mona Financial Consultancy and Securities Limited, Bangladesh

Position      : Risk Analyst

Department  : Investment Risk Analysis

Duration.    : From February, 2013 to September, 2013

11.

Organization  : Mona Financial Consultancy and Securities Limited, Bangladesh

Position      : Senior Executive

Department  : Trading and Stock Market Analysis

Duration.    : From January, 2010 to May, 2011

Academic Papers

Journal Published Papers:

1. Zheng, M., Shao, L., Debnath, N. C., & Bhowmik, R. (2026). Freedom and the commitment to shareholder loyalty. Humanities and Social Sciences Communications.

2. Xiangzhong, D., Tiwari, A. K., & Bhowmik, R. (2025). Impact of industrial agglomeration on total factor productivity in the context of embedded global value chains. Applied Economics, 1-14.

3. Din, S. U., & Bhowmik, R. (2025). Does economic policy uncertainty reshape electricity production in Pakistan? Evidence from an asymmetric analysis. Fluctuation and Noise Letters.

4. Bhowmik, R., Sharif, A., Anwar, A., Syed, Q. R., Cong, P. T., & Ha, N. N. (2024). Does environmental policy stringency alter the natural resources-emissions nexus? Evidence from G-7 countries. Geoscience Frontiers, 15(5), 101874.

5. Chowdhury, S. P., Ahmed, R., Debnath, N. C., Ali, N., & Bhowmik, R. (2024). Corporate Governance and Capital Structure Decisions: Moderating Role of inside Ownership. Risks, 12(9), 144.

6. Liu, J., Nwagu, E. C., Liu, R., Wang, Q., Debnath, G. C., & Bhowmik, R. (2024). Effect of Chinese outward FDI on youth unemployment in sub-Saharan Africa. PLoS ONE, 19(7), e0305482.

7. Rahman, M. A., Bhowmik, R., Islam, M. S., & Azad, M. A. K. (2024). A systematic review of stock market responses to COVID-19 and future research agendas. Global Business and Economics Review, 31(3), 297-329.

8. Durani, F., Bhowmik, R., Sharif, A., Anwar, A., & Syed, Q. R. (2023). Role of economic uncertainty, financial development, natural resources, technology, and renewable energy in the environmental Phillips curve framework. Journal of Cleaner Production, 420, 138334.

9. Bhowmik, R., Durani, F., Sarfraz, M., Syed, Q. R., Nasseif, G. (2022). Does sectoral energy consumption depend on trade, monetary, and fiscal policy uncertainty? Policy recommendations using novel bootstrap ARDL approach. Environmental Science and Pollution Research, 1-13.

10. Bhowmik, R., Debnath, G. C., Debnath, N. C., Wang, S. (2022). Emerging stock market reactions to shocks during various crisis periods. PLoS ONE, 17(9), e0272450.

11. Bhowmik, R., Rahut, D. B., Syed, Q. R. (2022). Investigating the impact of climate change mitigation technology on the transport sector CO2 emissions: Evidence from panel quantile regression. Frontiers in Environmental Science, 10, 916356.

12. Debnath, G. C., & Bhowmik, R. (2022). Key success factors of NGO leadership that leads to sustainable and effective development: A case on BRAC, Bangladesh. Revista de Cercetare si Interventie Sociala, 77, 125-148.

13. Syed, Q. R., Bhowmik, R., Adedoyin, F. F., Alola, A. A. (2022). Do economic policy uncertainty and geopolitical risk surge CO2 emissions? New insights from panel quantile regression approach. Environmental Science and Pollution Research, 1-17.

14. Bhowmik, R., Zhu, Y., Gao, K. (2021). An analysis of trade cooperation: Central region in China and ASEAN. PloS ONE, 16(12), e0261270.

15. Hashmi, S. M., Bhowmik, R., Inglesi-Lotz, R., Syed, Q. R. (2021). Investigating the Environmental Kuznets Curve hypothesis amidst geopolitical risk: Global evidence using bootstrap ARDL approach. Environmental Science and Pollution Research, 1-14.

16. Khalid, N., Zafar, R. F., Syed, Q. R., Bhowmik, R., & Jamil, M. (2021). The heterogeneous effects of COVID-19 outbreak on stock market returns and volatility: Evidence from Panel Quantile Regression model. Etikonomi, 20(2), 225-238.

17. Bhowmik, R., Syed, Q. R., Apergis, N., Alola, A. A., Gai, Z. (2021). Applying a dynamic ARDL approach to the Environmental Phillips Curve (EPC) hypothesis amid monetary, fiscal, and trade policy uncertainty in the US. Environmental Science and Pollution Research, 1-15.

18. Tu, B., Bhowmik, R., Hasan, M. K., Asheq, A. A., Rahaman, M. A., Chen, X. (2021). Graduate students’ behavioral intention toward social entrepreneurship: Role of social vision, innovativeness, social proactiveness, and risk taking. Sustainability, 13 (11), 6386.

19. Bhowmik, R., Debnath, G. C., Zafar, R. F., & Lormon, B. L. (2021). Creative industry in terms of COVID-2019 pandemic: European countries responsive measures. Pressburg Economic Review, 1(1), 9-18.

20. Bhowmik, R., & Wang, S. (2020). Stock market volatility and return analysis: A systematic literature review. Entropy, 22(5), 522.

21. Bhowmik, R., Patnaik, B.C.M., Debnath, G.C., & Satpathy, I. (2020). Impact of carbon tax scheme and co₂ control technologies on Bangladesh aviation industry. International Journal of Engineering and Advanced Technology, 9(3), 54-62.

22. Bhowmik, R., & Wang, S. (2019). Is the emerging Asian stock markets really predictable- based on the operations and information management? International Journal of Supply Chain Management, 8(1), 600-621.

23. Bhowmik, R., & Wang, S. (2018). An investigation of return and volatility linkages among stock markets: A study of emerging Asian and selected developed countries. Journal of International Trade and Commerce, 14(4), 1-29.

24. Bhowmik, R., Abbas, G., & Wang, S. (2018). Return and volatility spillovers effects: Study of Asian emerging stock markets. Journal of Systems Science and Information, 6(2), 97-119.

25. Roy, K. J., & Bhowmik, R. (2017/6-12). Factor affecting investors’ risk tolerance: A study on Mymensing district. Journal of Nazrul University, 5 (1&2), 83-92.

26. Bhowmik, R., Wu, C., Roy, K. J., & Wang, S. (2017). A study on the volatility of the Bangladesh stock market—Based on GARCH type models. Journal of Systems Science and Information, 5(3), 193-215.

27. Abbas, G., Bhowmik, R., Koju, L., & Wang, S. (2017). Cointegration and causality relationship between stock market, money market and foreign exchange market in Pakistan. Journal of Systems Science and Information, 5(1), 1-20.

28. Bhowmik, R. (2014). ASEAN-China free trade agreement: It’s peace-promotion effects over South China Sea dispute and econometric analysis of welfare effects on not-yet-ready ASEAN members: Carbodia, Laos, Myanmar and Vietnam. International Journal of Business and Management Study, 1(4), 39-43.

29. Debnath, G. C., & Bhowmik, R. (2012). Understanding the reciprocal relationship among leadership styles and organizational performance: A case study in Bangladesh. The Cost and Management, XL (5), 10-17.

30. Bhowmik, R. (2012). The present e-commerce situation in Bangladesh for B2C E-commerce. International Journal of Economics and Research, 3(5), 77-91.

Conference Papers:

1. 2020/1: Economic Modelling Special Issue Conference on “The Opportunities and Challenges of China’s Economy and Financial Markets”?. Jiangxi, China. “Stock market volatility transmission: Evidence from Asian emerging stock markets” with Gao, K., Rahman, A., Abbas, G., & Wang, S.

2. 2018/3: International Conference on Business and Sustainable Development (ICBSD), Volume- 1. Rajshahi, Bangladesh. “Operational Efficiency of Bangladeshi Banks in the Perspective of Intellectual Capital: A Data Envelopment & Tobit Analysis” with Rahman, A., & Mollah, A. S.

3. 2018/1: Annual Conference and Research Symposium International Academy of Global Business and Trade, Volume- 19. Dhaka, Bangladesh. “Sustainable Environment is a Prerequisite for efficient Investment: A Pilot Study on Manufacturing Firms of Bangladesh” with Rahman, A., & Mollah, A. S.

4. 2016/7: 2016 Service System Engineering Department of System Engineering Society of China and 2016 IEEE Symposium on Analytics and Risk, p. 16, Beijing, China. “Stock Return Volatility Effects: Study of South & East Asian Countries” with Roy, K.J., Abbas, G., & Wang, S.  

5. 2016/7: 2016 Service System Engineering Department of System Engineering Society of China and 2016 IEEE Symposium on Analytics and Risk, p. 15, Beijing, China. “Regime switching analysis of oil price volatility risk and stock market returns: Evidence of BRICS+P” with Abbas, G., Wang, S., & Wu, D.

6. 2014: Proc. of the 2nd Intl. Conf. on Advances in Economics, Management and Social Study, p. 24, Kuala Lumpur, Malaysia. “ASEAN-China free trade agreement: It’s peace-promotion effects over South China sea dispute and econometric analysis of welfare effects on not-yet-ready ASEAN members: Cambodia, Laos, Myanmar and Vietnam” with Raya, N.

Monograph and Teaching Materials

Scientific Research Projects

1. 2023 – 2025: The Impact of economic policy uncertainty and geopolitical risk on environment was funded by University Research Grant, Guangdong University of Foreign Studies, China (Grant No.: 299-GK23G396) (Principal Investigator)

2. 2023 – 2025: Effect of Third-party Payment on Macao Residents’ Green Consumption was funded by Association of Macao Characteristic Finance (Macao), China ACFM-(Grant No.: 2023IS02) (Principal Investigator)

3. 2021 – 2024: DIU Belt and Road Initiative was funded by University Research Grant, Daffodil International University, Bangladesh (Main Participant)

4. 2019 – 2022: Optimal Scale of Family Farming: Intrinsic Mechanism, Dynamic Optimization and System Performance (养殖型家庭农场适度规模:内在机理、动态优化及系统绩效) was funded by the National Natural Science Foundation of China (Grant No.: 71863021) (Participant)

Achievements

Editorial Role

Academic Editor of PLOS One

Guest Editor of Journal of Risk and Financial Management

Review Editor of Frontiers in Environmental Science

Editorial Board Member of Discover Global Society

Editorial Board Member of Asian Journal of Finance & Accounting

Article Editor of Sage Open

Consulting Projects

Awards

1. CAS-TWAS President’s Fellowship, by Chinese Academy of Sciences and The World Academy of Sciences; Host: Chinese Academy of Sciences; Date and Period: 2013 to 2017.

2. DIU Alumni Excellence Award 2018.

3. Chinese Scholarship Council (CSC), by the Chinese Ministry of Education; Host: Shenyang Aerospace University; Date and Period: 2011 to 2013.

4. Full Fund University Merit Scholarship for bachelor’s degree, Daffodil International University, Bangladesh; Date and Period: 2007 to 2010.

Contact

Address：

Room No. 264,

Academic Faculty Building,

School of Business,

Guangdong University of Foreign Studies,

GDUFS South Campus,

Guangzhou, China

Mobile： +86-15679287628

E-mail：roni@amss.ac.cn