Professor Sumon Bhaumik

Chair in Finance

Room: C073
Phone: +44 (0)114 222 3297
Email: s.k.bhaumik@sheffield.ac.uk
Personal web page: http://www.sumonbhaumik.net
Professor Sumon Bhaumik

Sumon Bhaumik received his undergraduate education at Presidency College, Calcutta, and got his masters and doctoral degrees in Economics from the University of Southern California. Since then, he has worked both within and outside of academics in Bulgaria, Germany, India and the United Kingdom. He joined the University of Sheffield in 2014, and holds a Chair in Finance. He is also a Research Fellow of IZA - Institute of Labor Economics, Bonn and a Fellow of the Global Labor Organization. Earlier, he was also a Research Fellow of the William Davidson Institute at the University of Michigan, Ann Arbor.

He is also a member of the peer-review college of ESRC, including for the GCRF Peer Review Group, and an expert at large for the Executive Agency for Small and Medium-sized Enterprises of the European Commission. Further, he is an associate editor of Emerging Markets Finance and Trade, a senior editor for International Journal of Emerging Markets, and a member of the Editorial Review Board of Journal of World Business. Until recently, he was a member of the editorial board of Economic Systems.

His research interests are wide ranging, and include corporate governance and firm performance, banks and credit markets, and impact of economic (including financial sector) reforms. He has published widely, including in high profile journals such as Strategic Management Journal, Journal of International Business Studies, Journal of World Business, Journal of Development Economics, Journal of Banking and Finance, Journal of Corporate Finance, and Journal of Comparative Economics. In the past decade, he has also worked on a number of projects funded by British Academy, DfID, ESRC, NESTA, UKIERI and UKTI. 

Teaching and Learning

Sumon’s teaching draws on his wide-ranging research experience as well as his experience working outside of academia and provides interesting perspectives on issues relevant to the modules. For example, his MSc module on Risk and Uncertainty explores the challenges of risk management from the perspective of companies and examines how and why risks may not be managed appropriately. Similarly, his (shared) MSc module on Emerging Markets Finance examines the drivers of financial sector development in emerging market economies, and how and why institutional weaknesses prevail in these financial sectors. Finally, his MBA module on Global Managerial Economics blends together a wide range of perspectives such as real options, institutional economics, law and economics, contract theory, and industrial organization to develop a narrative about strategic decisions of firms. The modules are evidence driven and use a wide range of examples, case studies and econometric results to explore the aforementioned issues. The overall satisfaction levels of students since the introduction of the modules are as follows:

Course/Module Level 2014-15 2015-16 2016-17 2017-18 2018-19
Risk and Uncertainty PG 4.5 4.5 4.6 4.5 4.7
Emerging Markets Finance PG 4.4 4.7 4.6 4.5 4.7
Global Managerial Economics MBA 3.8 4.3

Research Interests

Sumon’s research has largely focused on the following areas:

  1. Ownership, corporate governance, and firm performance
  2. Multinational enterprises and internationalisation of firms
  3. Banks and credit markets

His more recent research, however, is exploring issues such as role of institutions, and the nature of governance on a larger scale.

Areas of Research Supervision

Sumon is not taking new PhD students at this time.

Select Recent Publications

Private information, institutional distance, and the failure of cross-border acquisitions: Evidence in the banking sector in Central and Eastern Europe (with O. Owolabi and S. Pal). Journal of World Business, 53(4): 504-513, 2018.

Ownership Identity, Strategy and Performance: Business Group Affiliates versus Independent Firms in India (with S. Estrin and T. Mickiewicz). Asia Pacific Journal of Management, 34(2): 281-311, 2017.

A Strategic Perspective of Cross-listing by Emerging Market Firms: Evidence from Indonesia, Mexico, Poland and South Africa (with Y. Temouri and N.L. Driffield). Journal of International Management, 22(3): 265-279, 2016.

How Family Firms Differ: Structure, Strategy, Governance and Performance (with R. Dimova). Palgrave Macmillan, 2014.

Does Ownership Concentration Improve M&A Outcomes in Emerging Markets? Evidence from India (with E. Selarka). Journal of Corporate Finance, 18(4): 717-726, 2012.

A Stochastic Frontier Approach to Modelling Financial Constraints in Firms: An Application to India (with P. Das and S.C. Kumbhakar). Journal of Banking and Finance, 36(5): 1311-1319, 2012.

Implications of Bank Ownership for the Credit Channel of Monetary Policy Transmission: Evidence from India (from V. Dang and A. Kutan). Journal of Banking and Finance, 35(9): 2418-2428, 2011.

Does Ownership Structure of Emerging Market Firms Affect Their Outward FDI? The Case of Indian Automotive and Pharmaceutical Sectors (with N. Driffield and S. Pal). Journal of International Business Studies, 41: 437-450, 2010.

Institutions, Resources, and Entry Strategies in Emerging Economies (with S. Estrin, K.E. Meyer and M. Peng). Strategic Management Journal, 30(1): 61-80, 2009.

How Transition Paths Differ: Enterprise Performance in Russia and China (with S. Estrin). Journal of Development Economics, 82(2): 374-392, 2007.

Key Projects / Grants

Title/ Description Awarding body Dates People Involved Amount
UKIERI Trilateral Research Grant UKIERI 2013-15 Professor Ali Kutan (SIUE), Dr Manisha Chakrabarty (IIMC), Dr Ekta Selarka (MSE) £47,803
Enterprise Research Centre Economic and Social Research Council (ESRC) 2013-15 Professor Stephen Roper (Warwick), Professor Mark Hart (Aston), Professor Jim Love (Aston), Professor Mike Wright (Imperial) et al. £2.9 million
Productivity and its drivers in the UK and comparable developed countries ESRC Placement Fellowship with BIS 2009-10 None £33,600

Editorial work

Associate Editor, Emerging Markets Finance and Trade (Taylor & Francis)

Senior Editor, International Journal of Emerging Markets (Emerald)

Editorial Review Board Member, Journal of World Business (Elsevier)

Research Fellowships

Research Fellow, IZA – Institute of Labor Economics, Bonn, Germany

Fellow, Global Labor Organization