Arif Khurshed

Arif Khurshed is a Professor of Finance with extensive experience in research, teaching, and academic leadership. He graduated from University of Delhi and completed his PhD from the ICMA Centre, University of Reading, before joining the University of Manchester as a postdoctoral research associate. He later took up a lectureship in Finance and was promoted to Professor in 2013.

Arif’s research spans several key areas of corporate finance, including Initial Public Offerings, venture capital, payout policy, trade credit, banking, private debt and innovation. He is the author of ‘The Mechanics and Performance of Initial Public Offerings’, now in its second edition. A dedicated PhD supervisor, he has guided over 20 doctoral students to completion, many of whom have secured academic and professional positions at prestigious institutions such as King’s College London, the London School of Economics, and the World Bank.

Arif teaches undergraduate, postgraduate, and MBA students, bringing an engaging approach to business education. He was nominated by AMBS for the prestigious International Teachers Programme at HEC Paris 2012, reflecting his commitment to excellence in teaching and pedagogical innovation. Passionate about teaching, Arif has been recognized with multiple awards, including the Faculty of Humanities Outstanding Teaching Award (2023) and the university student union’s Highly Commended for Inclusive and Accessible Teaching Practice Award (2024). In 2025, he was nominated for the Student Union’s Inspiring Flexible Teaching, Innovation, or Online Learning award.

He serves on the editorial boards of the British Accounting Review and the Journal of Sustainable Finance & Accounting. From 2021 to 2024, he was the divisional Associate Head of Research, having previously held the role of Associate Head of Social Responsibility. He is currently the programme director for MSc Financial Management. Beyond academia, he has contributed as an academic member of the International Valuation Standards Council (IVSC) and has provided expert consultancy for the UK Financial Conduct Authority (FCA) and the British Venture Capital Association (BVCA). His expertise has been sought by media outlets such as the BBC, Bloomberg, The Sunday Times, and Investors Chronicle. He consults entrepreneurs and companies planning a listing (IPO) and is also called upon as an expert witness in matters of corporate litigation.

Arif's research interests include:

• Studies of Initial Public Offerings (IPOs) with particular emphasis on their pricing mechanisms, contractual agreements, corporate governance, their impact on capital structure and post-IPO survival.
• Private equity: risk and returns of venture capital syndicates
• Investment preferences of institutional investors
• Connections (political and bank) and firm performance
• Share repurchase programmes
• Payout policies
• Banking
• Trade credit
• Private Debt
• Financial inclusion and literacy