*Victoria Institute of
*Strategic Economic Studies
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Prof. Sardar M. N. Islam
Phone number:
(03) 9919 1338
Email address:

BA (Hons), MA, PhD, LLB (Law)

Professional experience
Prof. Sardar M. N. Islam has interest in different academic fields in Finance, Economics, Business, and Law where he has publications, expertise, or experience in teaching, supervision, and research. He has published extensively in the above areas. His qualifications include Ph.D. and LL.B. He is also associated with the Financial Modelling Program, the Law and Economics program, the Centre for International Corporate Governance Research, the Institute for Logistics and Supply Chain Management, among others. He has taught for more than 15 years at different universities in various countries. His research has gained international reputation.

He currently supervises over a dozen doctorate students. For his current and past students’ topics, see: http://www.cfses.com/students.htm

Recent Publications


Raoprasert, T. and Islam, S.M.N. forthcoming 2010, Designing an Efficient Management System, Springer, New York.

Ahmed, A. and Islam, S.M.N. forthcoming 2010, Financial Liberalisation in Developing Countries: Issues, Theories, Time Series Econometric Analyses and Policy Making, Springer, Heidelberg.

Manzoni, A. and Islam, S.M.N. 2009, Performance Measurement in Corporate Governance: DEA Modelling and Implications for Organisational Behaviour and Supply Chain Management, Springer, Heidelberg.

White, P. and Islam, S. M. N. 2008, Formulation of Appropriate Laws: A New Integrated Multidisciplinary Modelling Approach and an Application to Electronic Funds Transfer Regulation, Springer, Heidelberg, ISBN 978-3-540-72046-1.

Rashid, K. and Islam, S.M.N. 2008, Corporate Governance and Firm Value: An Econometric Study of Emerging and Developed Financial Markets, Bingley, UK.

Hansanti, S., Islam, S.M.N. and Sheehan, P. 2008, International Finance in an Emerging Market: Issues, Welfare Analyses and Policy Implications, Springer, Heidelberg, ISBN-10: 3790820431, ISBN-13: 978-3790820430

Corporate Crisis and Risk Management: Modelling, Strategies and SME Application, 2006 with M. Aba-Bulgu, Elsevier, Amsterdam.

Aba-Bulgu, M. and Islam, S.M.N. 2007, Corporate Crisis and Risk Management: Modelling, Strategies and SME Application, Elsevier, London, UK.

Islam, S.M.N. and Watanapalachaikul, S. 2005, Empirical Finance, Physica Series Contributions to Economics, Springer-Verlag, Heidelberg

Islam, S.M.N. and Oh, K.B. 2003, Applied Financial Econometrics in E-Commerce, Series Contributions to Economic Analysis, North Holland Publishing, Amsterdam.

Journal articles

Nuryanah, S. and Islam, S. forthcoming 2010, ‘Corporate Governance and Performance: Evidence from an Emerging Market’, Malaysian Accounting Review.

Rashid, K. and Islam, S. 2009, ‘Capital Structure and Firm Performance in the Developed Financial Market’, Corporate Ownership and Control, vol. 7, no. 2, pp. 189-201.

 Sanderson, J. and Islam, S.M.N. 2009, ‘Adaptation Policy Options for Climate Change in South East Asia’, International Journal of Environmental Creation, vol. 9, nos 1 and 2, pp. 43-56 (online).

 Craven, B. and Islam, S.M.N. 2008, ‘A model for stock market returns: Non-Gaussian fluctuations and financial factors’, Review of Quantitative Finance and Accounting, vol. 30, no. 4, pp. 355-370. ISSN 0924-865X.

Sheehan, P., Jones, R., Jolley, A., Preston, B., Clarke, M., Durack, P., Islam, S. and Whetton, P. 2008, ‘Climate change and the new world economy: Implications for the nature and timing of policy responses’, Global Environmental Change, vol. 18, no. 3, pp. 380-396.

Hui Boon Tan , Chee Wooi, Hooy, Islam, S.M.N. and Manzoni, A. 2008, ‘Relative efficiency measures for the knowledge economies in the Asia Pacific region’, Journal of Modelling in Management, vol. 3, no. 2, pp. 111-125. ISSN: 1746-5664.

Chen, P. and Islam, S.M.N. 2008, ‘Planning the firm’s financing mix: Optimal control modelling and computation’, Advances in Financial Planning and Forecasting: A Research Annual, vol. 3, pp. 37-66. ISSN: 2072-1897.

Bonazzi, L. and Islam, S.M.N. 2007, ‘Agency theory and corporate governance: A study of the effectiveness of board in their monitoring of the CEO’, Journal of Modelling in Management, vol. 2, no. 1, pp. 7-23

Watanapalachaikul, S. and Islam, S.M.N. 2007, ‘Speculative bubbles in the Thai stock market’, Review of Pacific Basin Financial Markets and Policies, vol. 2, no. 4, pp. 444-453

Manzoni, A. and Islam, S.M.N. 2007, ‘Measuring collaboration effectiveness in globalised supply networks: A data envelopment analysis application’, International Journal of Logistics Economics and Globalisation, vol. 1, no. 1, pp. 77-91 (invited publication).

Nasution, R., Islam, S.M.N. and Anderson, R. 2007, ‘An empirical analysis of the relationships between exchange rate exposure and companys' retail pricing policies’, International Journal of Monetary Economics and Finance, vol. 1, no. 1,  pp. 32-44