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School of Business and Management

Dr Deven Bathia


Senior Lecturer in Finance

Telephone: +44 (0)20 7882 6500
Room Number: Room 4.14, Francis Bancroft Building, Mile End Campus
Office Hours: Wednesday: 9.30 to 11.30




Dr Deven Bathia is a Senior Lecturer in Finance at the Queen Mary University of London. He holds a PhD in Finance from the UCD, Michael Smurfit Graduate Business School, Ireland, and an MBA from Fordham University, Gabelli School of Business, USA. Before joining academia, Deven worked at various capacities in accounting and investment management sector for over seven years. Deven’s research interests lie primarily in the fields of behavioural finance, investments, governance and international finance, with a special interest in investor sentiment, capital flows and board composition. He is also a member of the Behavioural Finance working group (BFWG) and the Centre for Globalisation Research (CGR). Deven has also held a Visiting position at the Management Development Institute (MDI), India.




  • BUS306: Financial Management


  • BUSM115: International Finance


Deven is a Fellow of the Higher Education Academy.


Research Interests:

My research interests lie primarily in the fields of behavioural finance, investments, governance and international finance, with a special interest in investor sentiment, capital flows and board composition. My research explores the asset pricing implications of various investor sentiment measures. Currently, I am working on several topics including exploring the determinants of capital flows as well as its effect on emerging stock market returns and volatility, the significance of monetary policy shocks on capital flows, and the role of various governance measures in affecting firm performances.

Centre and Group Membership:



Journal articles

  • Tiwari, A., Bathia, D., Bouri, E., and Gupta, R., 2021. Investor sentiment connectedness: Evidence from Linear and Nonlinear Causality Approaches. Annals of Financial Economics (forthcoming).
  • Bathia, D., Demirer, R., Gupta, R., and Kotze, K., 2021. Unemployment fluctuations and currency returns in the United Kingdom: Evidence from over one and a half-century of data, Journal of Multinational Financial Management, 61, 100679.
  • Balcilar, M., Bathia, D., Demirer, R., and Gupta, R., 2021. Credit Ratings and Predictability of Stock Return Dynamics of the BRICS and the PIIGS: Evidence from a Nonparametric Causality-in-Quantiles Approach. The Quarterly Review of Economics and Finance, 79, 290-302.
  • Bathia, D., Bouras, C., Demirer, R., and Gupta, R., 2020. Cross-Border Capital Flows and Return Dynamics in Emerging Stock Markets: Relative Roles of Equity and Debt Flows. Journal of International Money and Finance 102258.
  • Bathia, D., and Bredin, D., 2018. Investor Sentiment: Does it augment the performance of asset pricing models? International Review of Financial Analysis 59. 290-303.
  • Bathia, D., Bredin, D., and Nitzsche, D., 2016. International sentiment spillovers in equity returns. International Journal of Finance and Economics 21(4), 332-359.
  • Bathia, D., and Bredin, D., 2013. An examination of investor sentiment effect in G7 stock market returns. European Journal of Finance, 19(9), 909-937. 


Book chapter

  • Bathia, D., and Bredin, D., 2015. An examination of investor sentiment effect on G7 stock market returns. Contemporary Issues in Financial Institutions and Markets, Vol. 2: 99-127.


Current Doctoral Students: 

  • Fatima Ali, Pandemic and Global Market Contagion, joint with Gulnur Muradoglu

PhD Supervision Completions:

  • Shafaq Malik, R&D and Firm Performance: Assessing the Role of Leverage and Intra-Industrial Proximity, joint with Gulnur Muradoglu, first academic job at Aston University
  • Rukaiyat Yusuf, Executive Compensation, Strategic Risk, and Financial Performance: Evidence from the UK Listed Firms, joint with Gulnur Muradoglu, first academic job at the University of Huddersfield
  • Jiaxin Wang, Ownership Structure and Firm Performance: An Empirical Analysis of the Listed Firms in China, joint with Gulnur Muradoglu, placed at Industrial and Commercial Bank of China
  • Praveen Gupta, Value of derivative usage for non financial and financial firms in India: The role of financial leverage and funding type, joint with Sushanta Mallick, first academic job at University of Roehampton.

Public Engagement

He has been a frequent contributor to a wide range of international conferences including Financial Management Association, European Financial Management Association, Eastern Finance Association, British Accounting and Finance Association, Behavioural Finance Working Group conference, Infiniti conference, to name a few. Deven has published his research in various finance journals including Journal of International Money and Finance, International Review of Financial Analysis and European Journal of Finance. He serves as an Editorial Board member of the Review of Behavioural Finance journal. 

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