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About RBF

Who we are?

The Centre for Responsible Banking & Finance (RBF), established in December 2011, is a research centre within the University of St Andrews School of Management. It conducts banking and finance research by focusing on responsibility issues and bringing together an experienced team of researchers across disciplines within the University and beyond.

Our aims

The RBF aims to better understand current issues and challenges facing today's corporation, financial institutions and market participants. A particular feature of the centre is its orientation toward empirical research which increases an understanding of corporate governance, social, environmental, ethical and trust issues for financial and non-financial firms.

Our research

The RBF's research agenda is structured around five topics:

  • Banking: industrial organisation applied to banking, productivity, credit unions, retail payments, governance mechanisms in banking, risks of financial institutions and markets.
    Lead coordinator: John O. S. Wilson
  • Corporate finance: firm profitability, firm risk, mergers & acquisitions, Corporate Governance, insider trading, and health economics (e.g., health reforms, financing and controlling costs).
    Lead coordinator: Manouchehr Tavakoli
  • Empirical Asset Pricing: investment analysis and portfolio management, risk management, predictability, and international financial market integration.
    Lead coordinator: Dimitris Chronopoulos
  • Funding for Small Businesses: SME Funding issues; credit availability in growth-oriented SMEs; funding for start-ups; equity finance such as venture capital and business angel funding; and alternative forms of small business lending such as crowdfunding.
    Lead coordinator: Ross Brown
  • New alternative investments: (socially) responsible investment, carbon investment, microfinance, and islamic finance.
    Lead coordinator: Bert Scholtens and Kais Bouslah

In 2012, the Centre launched its working paper series.


The RBF Centre runs academic and practitioner based events to share the results of our research and stimulate debate on current issues in banking and finance.