Pejman Abedifar

Assistant Professor of Economics and Finance


Prior to joining TeIAS in March 2020, Pejman was an assistant professor at the University of St Andrews for nearly 6 years. He earned his PhD in Economics (specialization: Money, Finance & Banking) from Université de Limoges, France in December 2013.

Pejman’s current research projects include relationship banking, FinTech, Islamic finance and resolution of failed banks. He has published articles in prestigious journals such as Review of Finance, Journal of Corporate Finance, Journal of Banking & Finance, Journal of Financial Stability, Religions, and Journal of the American Academy of Religion.

Pejman is an honorary assistant professor at the University of St Andrews and a visiting assistant professor at Université de Limoges since 2016. He has more than ten years of experience in the banking industry.

Research Interests

  • Banking
  • Corporate Finance
  • Islamic Finance
  • LAPE, Université de Limoges, France (2009-2013)
    Doctor of Philosophy in Economics – (Specialization: Money, Finance and Banking)

  • CentER Graduate School, Tilburg University, The Netherlands (2008-2009)
    Master’s in Finance (Specialization: Corporate Finance & Banking)

  • Amsterdam Business School, Universiteit van Amsterdam, The Netherlands (2007-2008)
    Master’s in International Finance (Specialization: Mathematical Finance)

  • Faculty of Economics, Allameh Tabatabaei University, Iran (1997-2000)
    Master’s in Economics

  • Higher Education Institute of Banking, Iran (1994-1997)
    Bachelor’s in Banking

Book Review

  • Beyond Debt: Islamic Experiments in Global Finance. By Daromir Rudnyckyj, Journal of the American Academy of Religion, 2020, 20(20), 1-4

Guest Editorship

  • Special Issue on Islamic Banking: Stability and governance (with Amine Tarazi), Global Finance Journal, 2020, in press. Available online 23 May 2020. DOI: 10.1016/j.gfj.2020.100540

Journal Articles

  • Flood, Farms and Credit: The Role of Branch Banking in the Era of Climate Change (with Seyed Javad Kashizadeh and Steven Ongena), Journal of Corporate Finance 85, 2024, 102544.

  • Formalism versus Purposivism in Islamic Jurisprudence: The Case of Islamic Finance Law, Religions, 2023, 14: 465,
    https: //

  • Resilience of Environmental and Social Stocks under Stress: Lessons from the COVID-19 Pandemic (with Kais Bouslah, Christopher Neumann, and Amine Tarazi), Financial Markets, Institutions & Instruments, 2022, Available online 25 June 2022, DOI:10.1111/fmii.12166

  • Stock price synchronicity and price informativeness: Evidence from a regulatory change in the U.S. banking industry (with Kais Bouslah and Yeliangzi Zheng), Finance Research Letters, 2020, in press. Available online 12 August 2020. DOI: 10.1016/

  • Female Board Representation, Risk-taking and Performance: Evidence from dual banking systems (with Mushtaq Hussain Khan, Ahmad Fraz and Arshad Hassan),Finance Research Letters, 2020, in press. Available online 30 May 2020. DOI: 10.1016/

  • How informative are stock prices of Islamic banks? (with Kais Bouslah, Shatha Qamhieh Hashem and Liang Song), Journal of International Financial Markets, Institutions & Money, 2020, 66, 1-17.

  • Accounting Regulations, Enforcement, and Stock Price Crash Risk: Global Evidence in the Banking Industry (with Ming Li, Dean Johnson, Liang Song and Saipeng Xing), Journal of Contemporary Accounting and Economics, 2019, 15(3), 1-17.

  • Lending, the Poor, and Islamic Scripture: Islamic Finance versus Welfare Islam, Journal of the American Academy of Religion, 2019, 87(2), 460-482.

  • Non-interest Income and Bank Lending (with Philip Molyneux and Amine Tarazi), Journal of Banking & Finance, 2018, 87, 411-426.

  • Heterogeneous Market Structure and Systemic Risk: Evidence from Dual Banking Systems (with Paolo Giudici and Shatha Hashem), Journal of Financial Stability, 2017, 33, 96-119.

  • Finance-Growth Nexus and Dual-Banking Systems: Relative Importance of Islamic Banks (with Iftekhar Hasan and Amine Tarazi), Journal of Economic Behvior & Organization, 2016, 132, 198-215.

  • Islamic banking and finance: Recent empirical literature and directions for future research (with Shahid M. Ebrahim, Philip Molyneux, and Amine Tarazi), Journal of Economic Surveys, 2015, 29(4): 637-670.

  • Risk in Islamic Banking (with Philip Molyneux and Amine Tarazi), Review of Finance, 2013, 17(6), 2035-2096.

  • Working Papers

  • Postgraduate courses: Banking & Finance, Econometrics, Alternative Investment

  • Undergraduate courses: International Banking, Investment

  • Sara Al Balooshi (University of St Andrews, graduated in 2020)

  • Caixia Shu (University of St Andrews, graduated in 2023)

  • Yeliangzi Zheng (University of St Andrews)