Arunava Bandyopadhyay

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Arunava Bandyopadhyay

Education : PhD/EMBA (VGSOM, IIT Kharagpur)

Specialization : Finance

Area of Interest : Financial Analytics, FinTech, Applied Econometrics

Designation : Assistant Professor - Finance

Contact: 03366529604

Email: a.bandyopadhyay@imi-k.edu.in

About Arunava Bandyopadhyay

Dr. Arunava Bandyopadhyay is an Assistant Professor of Finance at IMI Kolkata. He holds a Ph.D. and an Executive MBA in Finance from the Vinod Gupta School of Management, IIT Kharagpur. Before joining IMI Kolkata, he served at Jindal Global Business School, University of Petroleum and Energy Studies, and as a visiting faculty at IIFT Kolkata, where he taught FinTech.
Dr. Bandyopadhyay brings 7 years of corporate experience with Siemens Ltd. and Phillips Carbon Black Ltd. His teaching interests include Financial Modelling and Analytics, FinTech, Financial Risk Management and Applied Econometrics. He actively engages in research, executive education, faculty development programs, and consulting activities, particularly in thought leadership areas of digital transformation and sustainability. Dr. Bandyopadhyay has also contributed to research funded by the Multi Commodity Exchange of India Ltd. (MCX).

Journal Publications:
  • Bandyopadhyay, A., Rajib, P. (2025), Does Financialization of agricultural commodities impact the information leadership share of futures market? – Evidence from Financialization Index. Quarterly Journal of Finance and Accounting. [Scopus/ Web of Science /SSCI/ABDC-B]
  • Rej, S., Hossain, M. E., Bandyopadhyay, A., Saba, C. S., Kumar, S., & Mahalik, M. K. M. (2025). Modelling the Asymmetric Impact of Terrorism and Military Expenditure on Tourism Development: A Case of the Tourist Destination Country. Tourism: An International Interdisciplinary Journal, 73(1), 24-42. https://doi.org/10.37741/t.73.1.2 [Scopus/ Web of Science /SSCI/ABDC-C] [IF: 2.0]
  • Mandal, T., Chatterjee, C. and Bandyopadhyay, A. (2024), “Influential-female-directors and dividend decisions: evidence from an emerging economy”, Equality, Diversity and Inclusion, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/EDI-12-2023-0444 [Scopus/ Web of Science /SSCI/ABDC-B] [IF: 2.3]
  • Rej, S., Bandyopadhyay, A., Awan, A., & Abbasi, K. R. (2024). Analyzing the role of nuclear energy in the nexus of economic growth and environmental pollution in Belgium? evidence from wavelet coherence method. Environment, Development and Sustainability, 1-32. https://doi.org/10.1007/s10668-024-05193-1 [Scopus/ Web of Science /SCIE/SCI] [IF: 4.080]
  • Bandyopadhyay, A., Sarkar, B. D., Hossain, M. E., Rej, S., & Mallick, M. A. (2024). Modelling and forecasting India’s electricity consumption using artificial neural networks. OPEC Energy Review, 48(2), 65-77. https://doi.org/10.1111/opec.12295 [Scopus/ Web of Science /SCIE/ ABDC – C] [IF: 1.5]
  • Wang, C., Abbasi, K. R., Irfan, M., Ben-Salha, O., & Bandyopadhyay, A. (2024). Navigating sustainability in the US: A comprehensive analysis of green energy, eco-innovation, and economic policy uncertainty on sectoral CO2 emissions. Energy Reports, 11, 5286-5299. https://doi.org/10.1016/j.egyr.2024.05.014[Scopus/ Web of Science /SCIE] [IF: 4.7]
  • Bandyopadhyay, A., Rej, S., Mallick, M. A., Mahalik, M. K., Kumar, S., & Vijayabaskar, M. (2024). Analyzing the impact of terrorism on tourism in Sri Lanka. Journal of Public Affairs, 24(2), e2920. https://doi.org/10.1002/pa.2920[Scopus/ Web of Science/SSCI/ABDC-B] [IF: 2.7]
  • Rej, S., Bandyopadhyay, A., Mallick, M. A., Inuwa, N., & Hossain, M. E. (2023). Investigating the influence of terrorism, and military expense on tourism in India: empirical evidence using dynamic ARDL simulations. International Journal of Tourism Policy, 13(4), 363-380. [Scopus/ Web of Science /ABDC-C]
  • Awan, A., Kocoglu, M., Bandyopadhyay, A., Rej, S., & Altuntaş, M. (2023). A quantile-based analysis of the nexus between hydropower generation, trade and urbanization for China utilizing the EKC hypothesis. Environmental Modeling & Assessment, 28(5), 843-857. https://doi.org/10.1007/s10666-023-09889-y [Scopus/ Web of Science /SSCI] [IF: 2.7]
  • Bandyopadhyay, A., Hossain, Md. E., Rej, S., Haseeb, M., & Rana, Md. J. (2023). Assessing the asymmetric influence of ICT on the tourism development: fresh insights from a tourist destination economy. Tourism Recreation Research, 50(2), 356–368. https://doi.org/10.1080/02508281.2023.2281057 [Scopus/ Web of Science /SSCI/ABDC-A] [IF: 3.4]
  • Onwe, J. C., Bandyopadhyay, A., Hamid, I., Rej, S., & Hossain, M. E. (2023). Environment sustainability through energy transition and globalization in G7 countries: What role does environmental tax play? Renewable Energy, 218, 119302. [Scopus/ Web of Science/SCIE] [IF: 8.001]
  • Hossain, M. R., Rej, S., Awan, A., Bandyopadhyay, A., Islam, M. S., Das, N., & Hossain, M. E. (2023). Natural resource dependency and environmental sustainability under N-shaped EKC: The curious case of India. Resources Policy, 80, 103150. https://doi.org/10.1016/j.resourpol.2022.103150 [Scopus/ Web of Science /SSCI/ABDC-B] [IF: 8.222]
  • Bandyopadhyay, A., Rej, S., Villanthenkodath, M. A., & Mahalik, M. K. (2022). The role of nuclear energy consumption in abatement of ecological footprint: Novel insights from quantile-on-quantile regression. Journal of Cleaner Production, 132052. https://doi.org/10.1016/j.jclepro.2022.132052 [Scopus/ Web of Science/SCIE/ABDC-A] [IF: 11.072]
  • Bandyopadhyay, A., Rej, S., Abbasi, K. R., & Awan, A. (2022). Nexus between tourism, hydropower, and CO2 emissions in India: Fresh insights from ARDL and cumulative fourier frequency domain causality. Environment, Development and Sustainability. https://doi.org/10.1007/s10668-022-02511-3 [Scopus/ Web of Science /SCIE/SCI] [IF: 4.080]
  • Rej, S., Bandyopadhyay, A., Murshed, M., Mahmood, H., & Razzaq, A. (2022). Pathways to decarbonization in India: The role of environmentally friendly tourism development. Environmental Science and Pollution Research. https://doi.org/10.1007/s11356-022-19239-2 [Scopus/ Web of Science /SCIE/SCI] [IF: 5.190]
  • Rej, S., Bandyopadhyay, A., Mahmood, H., Murshed, M., Mahmud, S. (2022), The role of liquefied petroleum gas in decarbonizing India: Fresh evidence from wavelet – partial wavelet coherence approach. Environmental Science and Pollution Research, https://doi.org/10.1007/s11356-021-17471-w [Scopus/ Web of Science/SCIE/SCI] [IF: 5.190]
  • Rej, S., Bandyopadhyay, A., Das, N., Hossain, Md. E., Islam, Md. S., Bera, P., & Yeediballi, T. (2022). The asymmetric influence of environmental-related technological innovation on climate change mitigation: What role do FDI and renewable energy play? Environmental Science and Pollution Research. https://doi.org/10.1007/s11356-022-23182-7 [Scopus/ Web of Science/SCIE/SCI] [IF: 5.190]
  • Hossain, M., Islam, M., Bandyopadhyay, A., Awan, A., Rej, S. (2022) Mexico at the crossroads of natural resource dependence and COP26 pledge: Does technological innovation help? Resources Policy. https://doi.org/10.1016/j.resourpol.2022.102710 . [Scopus/ Web of Science /SSCI/ABDC-B] [IF: 8.222]
  • Abbasi, K. R., Awan, A., Bandyopadhyay, A., Rej, S., & Banday, T. P. (2022). Investigating the inverted N-shape EKC in the presence of renewable and nuclear energy in a global sample. Clean Technologies and Environmental Policy. https://doi.org/10.1007/s10098-022-02436-5 [IF: 4.7]
  • Awan, A., Abbasi, K. R., Rej, S., Bandyopadhyay, A., & Lv, K. (2022). The impact of renewable energy, internet use and foreign direct investment on carbon dioxide emissions: A method of moments quantile analysis. Renewable Energy. https://doi.org/10.1016/j.renene.2022.03.017 [Scopus/ Web of Science/SCIE] [IF: 8.001]
  • Das, N., Murshed, M., Rej, S., Bandyopadhyay, A., Hossain, Md. E., Mahmood, H., Dagar, V., & Bera, P. (2022). Can clean energy adoption and international trade contribute to the achievement of India’s 2070 carbon neutrality agenda? Evidence using quantile ARDL measures. International Journal of Sustainable Development & World Ecology, 0(0), 1–16. https://doi.org/10.1080/13504509.2022.2139780 [Scopus/ Web of Science /SCIE/SCI] [IF: 4.870]
  • Hossain, Md. E., Rej, S., Hossain, M. R., Bandyopadhyay, A., Tama, R. A. Z., & Ullah, A. (2022). Energy mix with technological innovation to abate carbon emission: Fresh evidence from Mexico applying wavelet tools and spectral causality. Environmental Science and Pollution Research. https://doi.org/10.1007/s11356-022-22555-2 [Scopus/ Web of Science/SCIE/SCI] [IF:5.190]
  • Bandyopadhyay, A., Rajib, P. (2021), The asymmetric relationship between Baltic Dry Index and commodity spot prices: evidence from nonparametric causality-in-quantiles test. Mineral Economics https://doi.org/10.1007/s13563-021-00287-y [Scopus/ Web of Science /ESCI/ABDC-C] [IF: 3.0]
  • Bandyopadhyay, A., & Rajib, P. (2023). The impact of Sino–US trade war on price discovery of soybean: A double‐edged sword?. Journal of Futures Markets, 43(7), 858-879. https://doi.org/10.1002/fut.22415 [Scopus/ Web of Science /SSCI/ABDC-A] [IF: 1.8]
  • Bandyopadhyay, A., Rej, S. (2021), Can nuclear energy fuel an environmentally sustainable economic growth? Revisiting the EKC hypothesis for India. Environmental Science and Pollution Research, 28, 63065–63086. https://doi.org/10.1007/s11356-021-15220-7 [Scopus/ Web of Science /SCIE/SCI] [IF: 5.190]
  • Bandyopadhyay, A., Bhowmik, S. and Rajib, P. (2020), “Wavelet-based analysis of guar futures in India: did we kill the golden goose?”, Journal of Agribusiness in Developing and Emerging Economies, Vol. 12 No. 1, pp. 104-125. https://doi.org/10.1108/JADEE-09-2020-0200 [Scopus/ Web of Science /ESCI/ABDC-C]
Book Chapter
Paper Presentations at Conferences:
  • Thirteenth India Finance Conference at IIM Raipur in December 2024
  • Empirical Issues in International Trade and Finance at IIFT Kolkata in December 2024
  • Indian Management Conclave – International Research Conference (IMC-IRC) 2024 at XLRI Jamshedpur
  • ISDSI Global Conference 2023 held at IIM Ranchi
  • Tenth India Finance Conference at IIM Bangalore, 16-18th December 2021
  • Eighth Pan IIM World Management Conference, IIM Kozhikode, 16-18th December 2021
  • First Changing Landscape of Securities Markets, NISM and SEBI, 22-24th January 2020
  • Eighth International Conference on Economics and Finance Research, INSEEC Business School, Lyon, France, 18-21st June 2019
  • First International Conference on Financial Markets and Corporate Finance, IIT Kharagpur, 7-8th July 2017
Research projects:
Awards
  • Outstanding Reviewer – Emerald Literati Awards 2023
PGDM:
  • Advanced Financial Management,
  • FinTech
  • Financial Modelling and Analytics
  • Financial Risk Management
  • Strategic Cost Management
  • Banking and Financial Services
FPM:
  • Applied Econometrics,
  • Advanced Corporate Finance
Other Professional Service
  • Advisory committee member for Global Fintech Conference 2025 at The University of Witwatersrand, Johannesburg, South Africa
  • Invited Speaker on “Financial Literacy & Small Business: Setting up Small Businesses in Rural Areas” at Baruipur, West Bengal as part of Unnat Bharat Abhiyan – September 2024
  • Invited as Session Chair for Management Doctoral Colloquium 2024 at VGSOM, IIT Kharagpur – February 2024
  • Invited as External Expert for PhD Admission Interview round at IIFT, Kolkata in October 2024.
  • Invited as Session Chair for International Finance and Accounting Conference (IFAC-2023) by IIM Jammu and ICAI in September 2023
  • Invited as External Expert in Research Assessment Committee to review PhD Research Scholar progress at IIFT, Kolkata in March 2024.
  • Invited as Expert Panelist to judge the East Zone finals of the event COMQUEST 2024 of MCX at IIFT Kolkata in February 2024
  • Reviewer for 15th IMR Doctoral Conference at IIM Bangalore
  • Reviewer and Discussant for Empirical Issues in International Trade and Finance conference at IIFT Kolkata
  • Reviewer for INDAM conference at IIFT Kolkata
Reviewer of journals, such as:
  • International Review of Financial Analysis, Elsevier
  • Financial innovation, Springer
  • The Journal of Futures Market, Wiley
  • Applied Economics, Taylor & Francis
  • Applied Economic Letters, Taylor & Francis
  • Environmental Science and Pollution Research, Springer
  • Journal of Agribusiness in Developing and Emerging Economies, Emerald
  • Maritime Business Review, Emerald
  • Journal of the Knowledge Economy, Springer
  • Electronic Commerce Research, Springer
  • Journal of Cleaner Production, Elsevier
  • Future Business Journal
  • Journal of Emerging Market Finance

Research and Consulting Projects

Worked on a consultancy project for Wordsmith Star to provide them with insights on how to increase awareness among Indian consumers and improve their overall process.