Professor Thankom Arun

EBS - Accounting
Professor Thankom Arun
  • Email

  • Telephone

    +44 (0) 1206 872750

  • Location

    EBS.3.79, Colchester Campus

  • Academic support hours

    You can find details of Academic Support hours on the EBS UG and PG information page on Moodle or by calling EBS Student Services on 01206873911



Thankom Arun is a Professor of Global Development and Accountability at the Essex Business School. Currently, he is a Professor Extraordinaire at the Stellenbosch Business School, South Africa and a Research Fellow at IZA, Bonn. He is also Chairing an academic steering group on Financial inclusion in the International Cooperative and Mutual Insurance Federation (ICMIF). He is a Fellow of the Royal Society of Arts, Manufactures and Commerce. Previously, he was Professor and Director of the Institute of Global Finance and Development (IGFD), at the Lancashire Business School, UCLan; Visiting Professor at the University of Rome and held academic positions at Manchester and Ulster. Thankom's research has been a move away from arbitrary disciplinary constraints towards an interdisciplinary learning process to understand the global challenges, particularly in developing/emerging country contexts. Over the years, the research carried out aims to understand, theorize and tackle the problems created by the uneven relationships between business, society and economy in an interdisciplinary framework. Thankom's recent research interests are in the areas of Fintech, financial inclusion, climate change and sustainability. He welcomes inquiries from prospective doctoral students in any of these areas. Grants: ESRC, British Academy, British Council, World Bank, EU etc. Project Reports (2020) 'Mainstreaming' financial inclusion in India, UKIERI (2015) Microfoundations of access to finance, ESRC (2011) Microfinance Regulation in USA, Lilly foundation and Indiana University (with Aruna Chandrsekhar) (2010) Microfinance Regulation and Social Security, European Development Report Background paper, European Union (with Victor Murinde) (2009) Corporate Governance, Regulation and Development, ESRC (2009) Combating Multiple and Overlapping Vulnerabilities: Microinsurance for the Poor in Sri Lanka, British Academy (2003) Improving Access to Rural Finance in India: Supply Side Constraints, World Bank (with Paul Mosley).


  • PhD (Manchester)

Research and professional activities

Research interests

Global Development and Development Finance.

Open to supervise

Emerging economies

Open to supervise

Financial Inclusion, Technology based financial delivery/services, Microfinance and Microinsurance

Open to supervise

Issues in Corporate Governance, Disclosure and Social responsibility

Open to supervise

Hybrid Organisations and Social Enterprises

Open to supervise

Issues in Sustainable Development

Open to supervise

Conferences and presentations

(2015) Development, Finance and Accounting: Trends and Research Priorities, Keynote Lecture, British Accounting and Finance Association, Accounting and Finance in Emerging Economies (Special Interest Group), 14th Research Workshop Programme, 27th November 2015.


(2015) Hybrids in Financial Services and Financial Inclusion: the case of Microfinance, ESRC Research Seminar on Responsible Finance: An Emerging/Developing Countries Perspective, 12th November 2015.


(2013) Global Policy Research Symposium to Advance Financial Literacy, organised at OECD Headquarters in Paris, attended as an expert on 31 October 2013.

Paris, France, 2013

(2011) Finance and Regulation, Keynote address at the International Conference on Microfinance, Chandragupta Institute of Management, Patna (CIMP), June 2011.

Patna, India, 2011

(2010) Microfinance Regulation and Social Protection, invited presentation, Conference on Experiences and Lessons from Social Protection Programmes across the Developing Word: What Role for the EU?,University of Paris, 17-18 June.

Paris, France, 2010

(2009) Governance Blackbox in Microfinance, Plenary lecture at the Second International Conference on Development Policy, Institute of Finance and Management, Tanzania, 7-9 August 2009.

Tanzania, United Republic of, 2009

(2009) Combating Multiple and Overlapping Vulnerabilities, Invited presentation at the Central Bank, Sri Lanka, 30th June 2009.

Sri Lanka, 2009

(2008) Microfinance: The way Forward, Invited research seminar at Bradford, Centre for International Development, University of Bradford, 18 March

Bradford, United Kingdom, 2008

(2008) Microfinance: New challenges, International conference on Microfinance and Millennium Development Goals, University of Cape, Coast, Ghana, 7-8 January 2008

Cape Coast, Ghana, 2008

(2008) Invited Lecture on Microfinance at the Northern Universitys India forum meeting at Lake District, UK, organised by the Lancaster University.

Lancaster, United Kingdom, 2008

(2007) Corporate Governance and Regulation, International Conference on Competition and Policy: Emerging Themes in Policy and Practice, Beijing, 25-26 February.

Beijing, China, 2007

(2007) The Regulation of Microfinance and the poor, Lecture at 12th Dilman Governance Forum, National College of Public Administration and Governance, Philippines, 2nd March.

Philippines, 2007

(2004) Microfinance for Cooperation: Sustainability, performance and legal framework, Euro-Mediterranean Conference on Microcredit, Rome, 6th December

Rome, Italy, 2004

(2004) Regulation of Financial Institutions, Jointly organised by the Institute of Legal Affairs, University of London, Oxford Brooks University and Journal of International Banking Regulation, 1st April.


(2004) Regulation of Microfinance, Conference on The Regulation of Development and the Development of Regulation, jointly organized by Centre on Regulation and Competition and the University of Illinois, 23rd April.

Chicago, United States, 2004

(2003) Strategic Approach for Development Financing and the role of Private capital, Keynote presentation in the Conference on the Road to prosperity Northeast Financial Hub, jointly organised by Korea Development Bank and Korea Institute for International Economic Policy and with the support of Koreas Ministry of Finance and Economy, Seoul, 8th December.

Seoul, Korea, Republic of, 2003

(2003) Regulation and Profitability, International Telecom Union and Centre of Excellence for East Africa at Maputo, Mozambique, 2nd June.

Mozambique, 2003

Teaching and supervision

Current teaching responsibilities

  • Critical Debates in Accounting (BE133)

  • Corporate Governance (BE139)

  • Social Entrepreneurship, Innovation and Impact (BE876)

  • Business Report (BE967)

Previous supervision

Rasheed ASM Alrashidi
Rasheed ASM Alrashidi
Thesis title: Essays on Access to Finance: A Case Study of Indian Firms
Degree subject: Accounting
Degree type: Doctor of Philosophy
Awarded date: 16/8/2021
Alexandros Parginos
Alexandros Parginos
Thesis title: Corporate Social Responsibility and Socio-Environmental Reporting Practices: Evidence From an Exploratory Study in the Greek Context.
Degree subject: Accounting
Degree type: Doctor of Philosophy
Awarded date: 11/5/2021
Arastyo Andono
Arastyo Andono
Thesis title: The Environmental Management Accounting Control as a Practice
Degree subject: Accounting
Degree type: Doctor of Philosophy
Awarded date: 18/12/2020
Mohammad Moniruzzaman
Mohammad Moniruzzaman
Thesis title: Enterprise Risk Management (Erm) in the Banking Sector: Evidence From Bangladesh
Degree subject: Accounting and Finance
Degree type: Doctor of Philosophy
Awarded date: 1/6/2020
Masuon Mohammedsaeed M Khojah
Masuon Mohammedsaeed M Khojah
Thesis title: Corporate Narrative Disclosures in Saudi Arabia
Degree subject: Accounting
Degree type: Doctor of Philosophy
Awarded date: 14/12/2018
Dian Kartika Rahajeng
Dian Kartika Rahajeng
Thesis title: Stakeholders' Perceptions of Fraud in Indonesian Bmt Islamic Cooperatives
Degree subject: Accounting and Finance
Degree type: Doctor of Philosophy
Awarded date: 18/10/2018
Arastyo Andono
Arastyo Andono
Degree subject: Accounting
Degree type: Master of Research
Awarded date: 4/10/2017
Sanjay Venkata Lanka
Sanjay Venkata Lanka
Thesis title: Accounting for Sustainable Livelihoods: The Dialectic Between Fairtrade and Biodiversity
Degree subject: Accounting
Degree type: Doctor of Philosophy
Awarded date: 4/7/2017


Journal articles (56)

Raj, A., Kuznetsov, A. and Arun, TG., Culture of Sustainability and Marketing Orientation of Indian Agribusiness in implementing CSR Programs—Insights from Emerging Market. Journal of Risk and Financial Management. 13 (11), 269-269

Arun, T., Adhikari, P. and Mohan, R., (2021). Learning accountability in the public sector: the experience of Kerala. Financial Accountability and Management. 37 (2), 184-203

Bose, U., Arun, T. and Arun, S., (2021). Do Information Networks Benefit Households with Female Heads?. Economic Modelling. 103, 105613-105613

Arun, T., Jayasinghe, K. and Ashraf, M., (2021). Guest editorial Accounting, Accountability and Global Development: Key perspectives. Journal of Accounting in Emerging Economies. 11 (1), 1-9

Alrashidi, R., Baboukardos, D. and Arun, T., (2021). Audit fees, non-audit fees and access to finance: Evidence from India. Journal of International Accounting, Auditing and Taxation. 43, 100397-100397

Upadhaya, B., Wijethilake, C., Adhikari, P., Jayasinghe, K. and Arun, T., (2020). COVID-19 Policy Responses: Reflections on Governmental Financial Resilience in South Asia. Journal of Public Budgeting Accounting and Financial Management. 32 (5), 825-836

Markose, S., Arun, T. and Ozili, P., (2020). Financial inclusion, at what cost? : Quantification of economic viability of a supply side roll out. The European Journal of Finance. Online, 1-26

Raj, A., Kuznetsov, A., Arun, T. and Kuznetsova, O., (2019). How different are corporate social responsibility motives in a developing country? Insights from a study of Indian agribusiness firms. Thunderbird International Business Review. 61 (2), 255-265

Aribi, ZA., Arun, T. and Gao, S., (2019). Accountability in Islamic financial institution. Journal of Islamic Accounting and Business Research. 10 (1), 98-114

Ozo, FK. and Arun, TG., (2019). Stock market reaction to cash dividends: evidence from the Nigerian stock market. Managerial Finance. 45 (3), 366-380

Mushonga, M., Arun, TG. and Marwa, NW., (2019). The cooperative movement in South Africa: Can financial cooperatives become sustainable enterprises?. Strategic Change. 28 (4), 259-271

Adhikari, P. and Arun, T., (2019). Competency Framework: Can it be a Tool for Improving Public Administration in Nepal. Journal of the Institute of Chartered Accountants of Nepal. 22 (1), 16-19

Peterson, OK. and Arun, TG., (2018). Income smoothing among European systemic and non-systemic banks. The British Accounting Review. 50 (5), 539-558

Mushonga, M., Arun, TG. and Marwa, N., (2018). Drivers, Inhibitors and the Future of Co-operative Financial Institutions: A Delphi Study on South African Perspective. Technological Forecasting and Social Change. 133 (C), 254-268

Almahrog, Y., Ali Aribi, Z. and Arun, T., (2018). Earnings management and corporate social responsibility: UK evidence. Journal of Financial Reporting and Accounting. 16 (2), 311-332

Aribi, ZA., Alqatamin, RM. and Arun, T., (2018). Gender diversity on boards and forward-looking information disclosure: evidence from Jordan. Journal of Accounting in Emerging Economies. 8 (2), 205-222

Alqatamin, R., Ali, Z. and Arun, T., (2017). The effect of CEOs’ characteristics on forward-looking information. Journal of Applied Accounting Research. 18 (4), 402-424

Alqatamin, RM., Aribi, ZA. and Arun, T., (2017). The effect of the CEO’s characteristics on EM: evidence from Jordan. International Journal of Accounting and Information Management. 25 (3), 356-375

Arun, S., Annim, S. and Arun, T., (2016). Do All Networks ‘Work’? The Mediating Role of Social Networks on Consumption Expenditure in India. Sociology. 50 (3), 522-541

Bendig, M. and Arun, T., (2016). Uptake of Multiple Microinsurance Schemes: Evidence from Sri Lanka. The Geneva Papers on Risk and Insurance - Issues and Practice. 41 (2), 205-224

Haque, F. and Arun, TG., (2016). Corporate governance and financial performance: an emerging economy perspective. Investment Management and Financial Innovations. 13 (3(1)), 228-236

Arun, TG., Almahrog, YE. and Ali Aribi, Z., (2015). Female directors and earnings management: Evidence from UK companies. International Review of Financial Analysis. 39 (C), 137-146

Ozo, FK., Arun, TG., Kostov, P. and Uzonwanne, GC., (2015). Corporate dividend policy in practice: the views of Nigerian financial managers. Managerial Finance. 41 (11), 1159-1175

Arun, T. and Kamath, R., (2015). Financial inclusion: Policies and practices. IIMB Management Review. 27 (4), 267-287

Kostov, P., Arun, T. and Annim, S., (2015). Access to financial services: The case of the ‘Mzansi’ account in South Africa. Review of Development Finance. 5 (1), 34-42

Ali Aribi, Z. and Arun, T., (2015). Corporate Social Responsibility and Islamic Financial Institutions (IFIs): Management Perceptions from IFIs in Bahrain. Journal of Business Ethics. 129 (4), 785-794

Kostov, P., Arun, T. and Annim, S., (2014). Banking the unbanked: the Mzansi intervention in South Africa. Indian Growth and Development Review. 7 (2), 118-141

Arun, T. and Hossein, CS., (2014). Reviews. Enterprise Development and Microfinance. 25 (3), 259-264

Kostov, P., Arun, T. and Annim, S., (2014). Financial Services to the Unbanked: the case of the Mzansi intervention in South Africa. Contemporary Economics. 8 (2), 191-206

Arun, S., Annim, SK. and Arun, T., (2013). Overcoming Household Shocks: Do Asset-Accumulation Strategies Matter?. Review of Social Economy. 71 (3), 281-305

Kostov, P., Arun, T. and Annim, S., (2012). Determinants of Access to Finance: An Investigation into the Mzansi Intervention. The European Journal of Development Research. 24 (3), 397-412

Arun, T., Bendig, M. and Arun, S., (2012). Bequest Motives and Determinants of Micro Life Insurance in Sri Lanka. World Development. 40 (8), 1700-1711

Haque, F., Arun, TG. and Kirkpatrick, C., (2011). Corporate governance and capital structure in developing countries: a case study of Bangladesh. Applied Economics. 43 (6), 673-681

Hulme, D. and Arun, T., (2011). What's wrong and right with microfinance. Economic and Political Weekly. 46 (48), 23-26

Haque, F., Arun, T. and Kirkpatrick, C., (2011). The political economy of corporate governance in developing economies: The case of Bangladesh. Research in International Business and Finance. 25 (2), 169-182

Arun, S., Arun, T. and Devi, U., (2011). Transforming Livelihoods and Assets through Participatory Approaches: The Kudumbashree in Kerala, India. International Journal of Public Administration. 34 (3), 171-179

Arun, T. and Ulku, H., (2011). Determinants of Remittances: The Case of the South Asian Community in Manchester. Journal of Development Studies. 47 (6), 894-912

Callaghan, V. and Hagras, H., (2010). Preface. Journal of Ambient Intelligence and Smart Environments. 2 (3), 207-209

Imai, KS., Arun, T. and Annim, SK., (2010). Microfinance and Household Poverty Reduction: New Evidence from India. World Development. 38 (12), 1760-1774

Adjei, J., Arun, T. and Hossain, F., (2009). Asset building and poverty reduction in Ghana: The case of microfinance. Savings and Development. 33 (3), 265-292

Haque, F., Arun, TG. and Kirkpatrick, C., (2008). Corporate governance and capital markets: a conceptual framework. Corporate Ownership and Control. 5 (2), 264-276

Reaz, M. and Arun, T., (2005). Corporate governance and competition: Conceptual thoughts. Corporate Ownership and Control. 3 (1), 46-51

Arun, T., (2005). Regulating for development: the case of microfinance. The Quarterly Review of Economics and Finance. 45 (2-3), 346-357

Arun, TG. and Turner, JD., (2004). Corporate Governance of Banks in Developing Economies: concepts and issues. Corporate Governance. 12 (3), 371-377

Arun, SV., Arun, TG. and Borooah, VK., (2004). The effect of career breaks on the working lives of women. Feminist Economics. 10 (1), 65-84

Arun, TG. and Turner, JD., (2003). Financial Sector Reforms and Corporate Governance of Banks in Developing Economies: The Indian Experience. South Asia Economic Journal. 4 (2), 187-204

Kirkpatrick, C. and Arun, TG., (2003). Finance in India: An Overview. South Asia Economic Journal. 4 (2), v-viii

Arun, TG. and Turner, JD., (2002). Financial Sector Reforms in Developing Countries: The Indian Experience. The World Economy. 25 (3), 429-445

Arun, TG. and Turner, JD., (2002). Public Sector Banks in India: Rationale and Prerequisites for reform. Annals of Public and Cooperative Economics. 73 (1), 89-109

Arun, S. and Arun, T., (2002). ICTs, gender and development: women in software production in Kerala. Journal of International Development. 14 (1), 39-50

Arun, S. and Arun, TG., (2001). Gender issues in social security policy of developing countries: Lessons from the Kerala experience. International Social Security Review. 54 (4), 93-110

Arun, TG. and Nixson, FI., (2000). The Disinvestment of Public Sector Enterprises: The Indian Experience. Oxford Development Studies. 28 (1), 19-32

Arun, TG. and Nixson, FI., (1998). The transition of a public sector monopoly: India's experience with telecommunications. Journal of International Development. 10 (3), 387-395

Arun, TG. and Nixson, FI., (1998). The reform of the power sector in India: 1991-1997. Journal of International Development. 10 (4), 417-426

Arun, TG. and Nixson, EI., (1997). Privatization and public enterprise reform in the Asia‐Pacific region. Journal of the Asia Pacific Economy. 2 (2), 201-224


Books (4)

(2016). Handbook of Research on Green Economic Development Initiatives and Strategies. IGI Global. 1522504400. 9781522504405

(2009). Corporate Governance and Development. 9781848444201

Arun, TG. and Turner, J., (2009). Corporate Governance and Development: Reform, Financial Systems and Legal Frameworks. 9781848444201

(2009). Microfinance. Routledge. 0203882768. 9780203882764

Book chapters (5)

Arun, TG. and Nixon, FI., (2018). Privatisation in India: "miles to go...?". In: The Indian Economy: Contemporary Issues. 69- 91. 9781138740419

Arun, T., (2016). Financialisation in an Interwoven World. In: The Interwoven World - Ideas and Encounters in History. Editors: Avari, B. and Joseph, GG., . Common Ground Publishing

(2011). Impact of microfinance: evidence from India ANURAG PRIyADARSHee , THANKOM ARUN AND. In: Microcredit and International Development. Routledge. 162- 177. 9780415679756

Arun, TG. and Turner, J., (2009). Corporate governance and development: Reform, financial systems and legal framework - an overview. In: Corporate Governance and Development: Reform, Financial Systems and Legal Frameworks. 1- 6. 9781848444201

Arun, T., Hulme, D., Matin, I. and Rutherford, S., (2005). Finance for the poor: The way forward?. In: Finance and Development: Surveys of Theory, Evidence and Policy. 304- 314. 9781843760306

Reports and Papers (1)

Arun, T., Girardone, C. and Piserà, S., (2021). ESG issues in emerging markets and the role of banks

Scholarly Editions (13)

Kostov, P., Arun, TG. and Annim, S., Usage of Financial Services in South Africa: Perceptions Matter

Annim, S. and Arun, TG., Is Climbing Difficult? A Gendered Analysis on the Use of Financial Services in Ghana and South Africa

Arun, TG. and Bendig, M., Risk Management among the Poor: The Case of Microfinancial Services

Arun, TG. and Annim, S., Economic Governance of MFIs: Inside the Black Box

Arun, S., Annim, S. and Arun, TG., 'Even' After Access to Financial Services? Ricocheting Gender Equations

Annim, S., Arun, TG. and Kostov, P., Effect of Perceptions and Behaviour on Access to and Use of Financial Service: Evidence from South Africa

Bendig, M. and Arun, TG., Enrolment in Micro Life and Health Insurance: Evidences from Sri Lanka

Arun, TG. and Turner, J., (2009). Corporate governance of banks in developing economies: Concepts and issues

Nxele, M. and Arun, TG., (2005). Regulatory Impact on the Development of the Telecommunications Sector in East Africa: A Case Study of Kenya

Reaz, M. and Arun, TG., (2005). Corporate Governance in Developing Economies: Perspective from the Banking Sector in Bangladesh

Arun, TG., (2004). Regulation and competition: emerging issues from an Indian perspective

Chen, S. and Arun, TG., (2004). Openness, Technological Capabilities and Regional Disparities in China

Arun, TG. and Borooah, V., (2004). Earnings Inequality in Sri Lanka

Grants and funding


Competency framework in public service delivery: the case of India

University of Essex (GCRF)

Integrating Climate Change within Public Investment Policies: A Cross Country Assessment in South Asia (India, Sri Lanka and Nepal)

The World Bank (World Bank Group)

UK-India Bilateral Trade in FinTech and FinTech-Enabled Services: Emerging trends and potential for growth

Economic and Social Research Council

Two-Way Visiting Fellowship with Indian colleague

University of Essex (GCRF)

Causes of Maternal Mortality in Botswana: An Exploratory Study

University of Essex (GCRF)


Public sector accountability in Kerala, India

University of Essex (GCRF)


Mainstreaming of the Finacial Inclusion Agenda in India


IAA ECC Challenge Lab project - Waste Busters

University of Essex

+44 (0) 1206 872750


EBS.3.79, Colchester Campus

Academic support hours:

You can find details of Academic Support hours on the EBS UG and PG information page on Moodle or by calling EBS Student Services on 01206873911