joan-sulaeman-sgfin-leadership

Professor Johan SULAEMAN

Director
Dean’s Chair and Professor
NUS Business School, Dept of Finance

Johan Sulaeman is the Director of the Sustainable and Green Finance Institute at NUS (SGFIN), where he leads research on sustainable and green finance with a particular focus on Asia. He is a Dean’s Chair and a Professor in the Department of Finance at the NUS Business School. He previously served as the founding Academic Director of the NUS MSc (Finance) Programme and as the Research Director of the Centre for Asset Management Research & Investments (CAMRI). He is a Scientist and Director of the PhD Programme at the AIDF (Asian Institute of Digital Finance), a Fellow of the ABFER (Asian Bureau of Finance and Economic Research), a Research Member of the ECGI (European Corporate Governance Institute), and has served on the editorial boards of international finance and economics journals.

He teaches in various educational programs, including executive education, in courses involving sustainable finance, sustainable investment, climate and nature-related risks, impact measurement and valuation, investment strategies, and risk management. His current research interests focus on sustainability and impact measurement in the context of the financial sector, corporate environmental exposures, sustainable investment, and the financial implications of climate- and nature-related risks. His recent work examines issues including corporate emissions and decarbonisation, deforestation exposure, physical climate risk in banking, and the valuation of environmental and social impacts. Professor Sulaeman works extensively with corporations and financial institutions across Asia, designing and delivering executive-education programmes on sustainable finance, investment and risk management.

His research appears or is forthcoming in top economics and business journals, including the American Economic Review, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, and Management Science, as well as the interdisciplinary and general-interest journals Information Fusion and Proceedings of the National Academy of Sciences (PNAS). His sustainability research has also informed industry reports, analytical tools and policy discussions on climate risk, natural capital, corporate transition and sustainable finance in Asia. His research has been featured in international media, including The Wall Street Journal and The New York Times, and he has contributed commentary to The Straits Times, The Business Times, CNA, and Reuters Sustainable Business. His papers have also been presented at leading conferences, including the American Finance Association and Western Finance Association annual meetings, and the NBER Summer Institute. He obtained his PhD in Finance from the University of Texas at Austin (McCombs).

  • Sustainable Finance and Impact Measurement
  • Corporate Sustainability and ESG
  • Sustainability Data and Evaluation
  • Climate Risk and Carbon Markets
  • Geographic and Local Effects on Economic Outcomes
  • Institutional Investors and Corporate Decisions
  • Market Efficiency and Asset Pricing
  • Corporate Finance
  • Investments and Portfolio Management
  1. Zhang, F., Perwitasari, S. W., Chen, M., Pandiangan, A., & Sulaeman, J. (2026).
    A Multi-Provider Assessment of Asset-Level Flood Risk in the Banking Sector.
  2. Tay, D., Alexander, M., & Sulaeman, J. (2026).
    On the Road to Carbon Market Integrity: Article 6.4’s Higher Standard and the Risk of Fragmentation.
  3. Zhang, F., Perwitasari, S. W., Wang, C., Tay, D., Pandiangan, A., & Sulaeman, J. (2026).
    Transition and Physical Climate Risks in Bank Loan Portfolios Across the Indonesian Banking System.
  4. Broadstock, D. C., Shin, S., Zhang, W., & Sulaeman, J. (2026).
    Understanding Net Zero Commitments by Singaporean Firms.
  5. Hafid, H., Pandiangan, A. J., & Sulaeman, J. (2026).
    Farming Practices, Financing Constraints, and Trust Barriers in Indonesia’s Rice Sector.
  6. Badarinza, F., Enerio, J., Joshi, D., Sulaeman, J., & Agarwal, S. (2025).
    Consumption Carbon Footprint: Country Level Data Framework.
  7. Pandiangan, A., Rajindran, S., Zhang, F., & Sulaeman, J. (2025).
    Harmonized Framework for Corporate Sustainability Evaluation.
  8. Badarinza, F., Enerio, J., Joshi, D., Sulaeman, J., & Agarwal, S. (2025).
    Consumption Carbon Footprint: Singapore Case Study.
  9. Rajindran, S., Hendratama, T., & Sulaeman, J. (2024).
    Improving the Integrity of Sustainability Data: Reviewing Environmental Coverage of Sustainability Data Providers.
  10. Tay, D., Alexander, M., Seet, S., & Sulaeman, J. (2024).
    Principles and Requirements for Evaluating Carbon Credit Frameworks.
  11. Hendratama, T., Broadstock, D. C., & Sulaeman, J. (2023).
    ESG Data Primer: Current Usage & Future Applications.

Selected recent publications

  1. Gefen, O., D. Reeb, and J. Sulaeman. (2026).
    Choosing Startup Investors: Does Gender Matter?
    Financial Management.
    https://doi.org/10.1111/fima.70063(opens in new tab)

  2. Ong, K., Mao, R., Satapathy, R., Filho, R. S., Cambria, E., Sulaeman, J., & Mengaldo, G. (2025).
    Explainable natural language processing for corporate sustainability analysis
    Information Fusion, 115(102726).
    https://doi.org/10.1016/j.inffus.2024.102726(opens in new tab)

  3. Liu, C., Shu, T., Sulaeman, J., Shu, T., Yeung, P.E. (2023)
    Life is Too Short? Bereaved Managers and Investment Decisions
    Review of Finance, Review of Finance, 27,4,1373-1421
    https://doi.org/10.1093/rof/rfac067
  4. Gefen, O., Reeb, D., & Sulaeman, J. (2023)
    Startups’ demand for accounting expertise: Evidence from a randomized field experiment
    Review of Accounting Studies
    https://doi.org/10.1007/s11142-023-09775-8
  5. Lin, Y., Qin, Y., Sulaeman, J., Yan, J., & Zhang, J. (2023).
    Expanding footprints: The impact of passenger transportation on corporate locations.
    Review of Finance, 2023, 27, 1119–1154.
    https://doi.org/10.1093/rof/rfac049(opens in new tab)
  6. Adhikari, B. K., Cicero, D. C., & Sulaeman, J. (2020)
    Does local capital supply matter for public firms’ Capital Structures?
    Journal of Financial and Quantitative Analysis, Volume 56 (5), Pages 1809–1843.
    https://doi.org/10.1017/s0022109020000423
  7. Wei, K. D., Sulaeman, J. (2019).
    Sell-Side Analysts and Stock Mispricing: Evidence from Mutual Fund Flow-Driven Trading Pressure
    https://doi.org/10.1287/mnsc.2018.3073
  8. Nofsinger, J. R., Sulaeman, J., & Varma, A. (2019)
    Institutional Investors and corporate social responsibility.
    Journal of Corporate Finance, Volume 58, Pages 700–725.
    https://doi.org/10.1016/j.jcorpfin.2019.07.012
  9. Parsons, C. A., Sulaeman, J., & Titman, S. (2018)
    The geography of financial misconduct
    The Journal of Finance, 73(5), 2087-2137.
    https://doi.org/10.1111/jofi.12704
  10. Bernile, G., Kumar, A., & Sulaeman, J. (2015)
    Home away from home: Geography of information and local investors.
    The Review of Financial Studies, 28 (7), 2009–2049.
    https://doi.org/10.1093/rfs/hhv004
  11. Sulaeman, J. (2014)
    Do local investors know more? evidence from mutual fund location and Investments
    Quarterly Journal of Finance, 04 (02), 1450010.
    https://doi.org/10.1142/s2010139214500104
  12. Shu, T., Sulaeman, J., & Yeung, P. E. (2012)
    Local religious beliefs and mutual fund risk-taking behaviors.
    Management Science, 58 (10), 1779–1796.
    https://doi.org/10.1287/mnsc.1120.1525
  13. Altı, A., & Sulaeman, J. (2012)
    When do high stock returns trigger equity issues?
    Journal of Financial Economics, 103 (1), 61–87.
    https://doi.org/10.1016/j.jfineco.2011.08.007
  14. Parsons, C. A., Sulaeman, J., Yates, M. C., & Hamermesh, D. S. (2011)
    Strike Three: Discrimination, incentives, and evaluation
    American Economic Review, 101 (4), 1410–1435.
    https://doi.org/10.1257/aer.101.4.1410

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