Nottingham University Business School
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Professor Sanjay Banerji

BA (Hons) (University of Calcutta), MA (University of Calcutta), PhD (State University of New York at Buffalo)
Professor of Finance

Division: Finance, Risk and Banking
Centre/Institute: China Research Group
E-mail: Sanjay.Banerji@nottingham.ac.uk
Tel: +44 (0) 115 9515276
Location: C20 (South Building, Jubilee Campus)

Have done PhD from the State University of New York at Buffalo in Economics and been a senior Fulbright Fellow at Boston University.

Administrative Roles
Division Head (Finance, Risk and Banking)
GCBFI - Co-Director of the Global Centre for Banking and Financial Innovation

School Committee Memberships
School Management Group 2018
Corporate Finance, Governance, Political Economy and Financial Market imperfections and instability in emerging markets

Sanjay is currently supervising the following Research Students:

Hend Abdulhadi S Attuwaijri
Wenjing Zhang

Older Publications

Older Publications

Journal Articles

Almazan, A.; Motta, A.; Banerji, S. (2008), "Attracting Attention: Cheap Managerial Talks and Costly Market Monitoring", Journal of Finance, Vol.63 (3), pp. 1399-1436.

Banerji, S. (2008), "Asset Sales, Debt Equity Swap in Bankruptcy and Reorganization", Economics Letters, Vol.89 (1), pp. 189-191.

Banerji, S.; Van, N. (2007), "Moral Hazards, Bankruptcy Costs and Financial Capital Mobility", Review of Development Economics, Vol.11 (2), pp.pp 369-384.

Banerji, S.; Errunza, V. (2005), "Privatization Under Incomplete Information and Bankruptcy Risk", Journal of Banking and Finance, Vol.29 (3), pp. 735-757.

Banerji, S.; Bhattachyarya, J.; Van Long, N. (2004), "Can Financial Intermediaries generate Business Cycles?", Journal of Economic Dynamics and Control, Vol.28 (11), pp. 2215-2238.

Banerji, S.; Chen, A.H.; Mazumdarm, S.C. (2002), "Universal Banking Under Bilateral Information Asymmetry", Journal of Financial Services Research, Vol.22 (3), pp. 169-187.

Banerji, S.; Gupta M, R. (1997), "Efficiency Wage Given Long Run Employment and Concave Labor Constraints", Journal of Development Economics, Vol.53 (1), pp. 185-195.

Banerji, S.; Rashid, S. (1996), "Tournaments and Share Cropping", Economica, Vol.63, pp. 343-352.

Chapters in Books

Sarker, A.; Banerji, S. (2010), "Anatomy of the recent financial crisis and the consequent economic recession", in Sarker, A (ed) India Macroeconomics Annual 2009, pp.67-80.


Banerji, S. 1999, "Limited Liability and Forgiveness of Debt and Optimal Loan Contract", at Conference volume organized in Indian Statistical Institute in the honour of PC Mahalanbish.

Recent Publications

Journal Articles

Banerji S,; Feng. D. (2021), "Money as a weapon: A winner-take-it all Competition", Journal of Corporate Finance, Vol.66, 1017183.

Madhav Aney, Elie Appelbaum and Sanjay Banerji, (2019), "Firm boundaries and financing with opportunistic stakeholder behaviour", Journal of Corporate Finance, forthcoming 2019.

Banerji, S; Duygun, M; Noe, Thomas, Shaban, M, (2018), "Institutions, Governance and Finance in a Globally Connected Environment", Journal of Corporate Finance, pp. 1-9.

Banerji,S,; Duygun, M,; Shaban, M. (2017), "Political Connections, Bailout in Financial Markets and Firm Value", Journal of Corporate Finance, Vol.50, pp. 388-401.

Banerji,S; Basu, P. (2017), "Universal banking, asymmetric information and the stock market", Economic Modelling, Vol.60, pp. 180-193.

Amess, K.; Banerji, S.; Lampousis, A. (2015), "Corporate cash holdings causes and consequences", International Review of Financial Analysis, Vol.42, pp. 421-433.

Banerji, S.; Basu, P. (2015), "Borrower's moral hazard, risk premium, and welfare: A comparison of universal and stand-alone banking systems", The Journal of Economic Asymmetries, Vol.12 (1), pp. 61-72.

Banerji, S.; Rajesh, S.; Raj, N.; Sen, K. (2015), "Monitoring Costs, Credit Constraints and Entrepreneurship", The Manchester School, DOI: 10.1111/manc.12122.

Banerji, S.; Ventouri, A.; Wang, Z. (2014), "The sovereign spread in Asian emerging economies: The significance of external versus internal factors.", Economic Modelling, Vol.36, pp. 566-576.

Chapters in Books

Banerji, S.; Gangopadhyay, K.; Gupta , P. (2014), "Financial intermediation and economic development; Evidence from Bihar", in Ashima Goyal (ed) Handbook for the Indian Economy in the 21st Century: Understanding the inherent dynamism, Oxford University Press.



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