Dr Mahmoud Elmarzouky
Senior Lecturer in Accounting
Research areas
Dr Mahmoud Elmarzouky holds a PhD in Accounting and is a Fellow of the Higher Education Academy (FHEA). He has over 20 years of combined academic and professional experience, spanning senior roles in higher education and professional practice, including service with the Egyptian Tax Authority and academic appointments across the UK.
Dr Elmarzouky is currently a Senior Lecturer in Accounting at the University of St Andrews, and has previously held lecturing positions at the University of Portsmouth, International College of Portsmouth, Anglia Ruskin University, University of Westminster, Kingston University, and Aston University. He is an experienced educator with extensive teaching across undergraduate, postgraduate, and professional programmes, and has designed, developed, and delivered a wide range of courses in accounting, finance, and research methods.
He has also developed and delivered specialist workshops on textual and narrative analysis, and has provided consultancy services to SMEs in accounting and finance.
Dr Elmarzouky’s research interests include corporate narrative reporting, narrative and textual disclosure, content analysis, auditing, sustainability and the Sustainable Development Goals (SDGs), climate change and carbon emissions, financial reporting standards, and corporate governance. His work on issues such as gender diversity, corporate social responsibility, and sustainability disclosure has been published in leading international journals, including the Journal of Environmental Management, Business Strategy and the Environment, Journal of Business Research, Technological Forecasting and Social Change, International Journal of Finance and Economics, and the Journal of International Accounting, Auditing and Taxation, among others.
He currently serves as an Associate Editor for Accounting Forum and Business Strategy and the Environment, and is also an Associate Editor of the International Journal of Accounting and Information Management.
Selected publications can be found on Dr. Elmarzouky's Google Scholar Page.
Mahmoud has a track record of externally funded research and successful PhD and DBA supervision.
Research Interests
Auditing
Corporate board characteristics
Corporate disclosures (i.e. cyber security, modern slavery, environmental, etc.)
Corporate ESG disclosure and performance
Corporate governance
Financial reporting standards
Narrative reporting
Textual analysis
Funding Applications and Awards
An examination of UK firms’ modern slavery disclosures: A gender socialisation theory perspective (2022-2023) – Funded by the British Academy/Leverhulme Small Research Grants 2022 Round. (Reference: SRG22\220712)
Informing the IASB Standard Setting Process IAAER – KPMG Research Opportunities, round 8 (2023–2025) – Funded by KPMG and IAAER International.
An Inconsequential Measure of Pain? Corporate Crime, Enforcement Action, and Surrogates of Deterrence (2024–2025) - Funded by the British Academy/Leverhulme Small Research Grants 2023 Round. (Reference: SRG2324\241595)
Membership of Professional Bodies
FHEA, Fellow of the UK Higher Education Academy
CFE, Certified Fraud Examiner.
CMBE, certified Management & Business Educator.
MHFA, a certificate from UKMH as trained mental health first aider for higher education students.
The British Accounting and Finance Association (BAFA)
The European Accounting Association (EAA).
PGCert, in higher education.
UCertSS, University Certificate of Special Study in Developing Researchers: Doctoral Supervision and Academic Practice.
Editorial activity
Associate Editor: Accounting Forum
Associate Editor: Business Strategy and the Environment (BSE).
Awards
Recognised in 2025 through the University of St Andrews’ Together, Research Excels initiative for positive impact on research culture, collegiality, and inclusive leadership (Wellcome-funded InFrame project). Together, Research Excels 2025
Student Experience Excellence Lecturer Award 2023.
Teaching Activity
Financial Accounting
Management Accounting
Research methods.
Visiting Appointments
Visiting scholar: Shanghai University, (2025), Shanghai, China.
Visiting scholar: Catania University, (2023) Catania, Italy.
Visting scholar: Institut Mines-Télécom (IMT), (2022) Paris, France.
Voluntary activities:
Outside Acadmeia, Mahmoud has been a governor at the Citizen Advice Bureau and a trustee at York Play Space.
External Engagement
Dr. Mahmoud Elmarzouky has demonstrated significant external engagement through various roles and contributions to the academic and professional communities. He has served on the scientific committee for events such as the interdisciplinary discussion on Sustainable Development Goals at the University of Portsmouth and the Management Accounting Research Group annual conference. Dr. Elmarzouky has been a guest speaker at numerous conferences, including the UKCGE annual conference, the Sustainability conference at Kings University London, and the 3rd International Conference on Biofuels and Bioenergy in Paris. He has also contributed as a keynote speaker on topics like green finance and the application of artificial intelligence in accounting at international venues in Tunisia and Algeria. His role as an academic visitor at institutions like Catania University and Institut Mines-Télécom underscores his collaborative efforts. Dr. Elmarzouky's involvement with the Financial Reporting Council on projects related to corporate remuneration and auditor reporting reflects his expertise in applying linguistic and content analysis to regulatory practices. These activities highlight his commitment to fostering dialogue between academia, industry, and regulators, particularly in the fields of accounting and finance.
Policy Engagement & Impact
Written evidence to the UK Parliament – Inquiry into Preventing Waste and Enabling a Circular Economy. Accepted and published by the Environment, Food and Rural Affairs Committee (EFRA), UK Parliament. Reference: PWC0038. https://committees.parliament.uk/work/9142/preventing-waste-and-enabling-a-circular-economy/publications/
Written evidence to the UK Parliament’s inquiry into Forced Labour in the UK Supply Chains. Accepted and published by the UK Parliament Human Rights Committee, (FLS0058). https://committees.parliament.uk/work/8812/forced-labour-in-uk-supply-chains/publications/
Written evidence to the UK Parliament’s inquiry into Forced Labour in the UK Supply Chains. Accepted and published by the UK Parliament Human Rights Committee, (FLS0021). https://committees.parliament.uk/work/8812/forced-labour-in-uk-supply-chains/publications/
Modern Slavery report published by the UK House of Lords. committees.parliament.uk/publications/49011/documents/257592/default/#page=101.13
Keynote Speaker, Anti-Slavery Wales Supply Chains & International Group, Welsh Government, Wales.
Accepting PhD Students
I am happy to receive any informal inquiry from PhD students relating to research in any of the above-indicated areas.
Media Availability
I am happy to take calls and emails from the media on my research. I am aware of the need to respond to journalists in a timely manner. Please contact me directly at either Mahmoud.Elmarzouky@st-andrews.ac.uk
PhD supervision
- Waqas Anwar
- Ghada Gaballa
- Salma Ibrahim
- Halliru Ishaq
- Isah Umar
Selected publications
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Open access
Capital structure and firm performance: evidence from FTSE all-share firms during Covid-19
Jaiswal, S. & Elmarzouky, M., 18 Nov 2025, In: Journal of Risk and Financial Management. 18, 11, 648.Research output: Contribution to journal › Article › peer-review
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Cybersecurity disclosure: board commitment and regulatory impact in the UK
Elmarzouky, M., Moussa, T. & Allam, A., 31 Jul 2025, (E-pub ahead of print) In: The International Journal of Accounting. Online ReadyResearch output: Contribution to journal › Article › peer-review
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Open access
Examining airlines' environmental and social disclosure: does board gender diversity matter?
Mintah, E., Elmarzouky, M. & Shohaieb, D., 26 Aug 2025, In: Business Strategy and the Environment. Early View, 17 p.Research output: Contribution to journal › Article › peer-review
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Open access
Green revenue generation and sales contribution: are consumers willing to bear the cost of sustainability?
Karim, E., Elmarzouky, M. & Shohaieb, D., 25 Aug 2025, In: Business Strategy and the Environment. Early ViewResearch output: Contribution to journal › Article › peer-review
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Open access
How do stock returns respond to a currency devaluation announcement?
Elgharib, W. A., Elmarzouky, M. & Shohaieb, D., 22 Nov 2025, In: Journal of Risk and Financial Management. 18, 12, p. 1-17 17 p., 663.Research output: Contribution to journal › Article › peer-review
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Open access
Maximising sustainable performance: Integrating servitisation innovation into green sustainable supply chain management under the influence of governance and Industry 4.0
Alkaraan, F., Elmarzouky, M., de Sousa Jabbour, A. B. L., Jabbour, C. J. C. & Gulko, N., 1 Jan 2025, In: Journal of Business Research. 186, 115029 p.Research output: Contribution to journal › Article › peer-review
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Strategic manoeuvres in the political arena: exploring the nexus of political cost and earnings management: a review
Hossain, K. A. B. M. A., Elmarzouky, M. & Giannopoulos, G., 2 Sept 2025, (E-pub ahead of print) In: International Journal of Accounting, Auditing and Performance Evaluation. 21, 3/4, p. 577-602Research output: Contribution to journal › Review article › peer-review
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Open access
Strategic pathways to corporate sustainability: the roles of transformational leadership, knowledge sharing, and innovation
Alqatan, A., Simmou, W., Shehadeh, M., AlReshaid, F., Elmarzouky, M. & Shohaieb, D., 16 Jun 2025, In: Sustainability. 17, 12, 5547.Research output: Contribution to journal › Article › peer-review
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Open access
An examination of UK companies' modern slavery disclosure practices: Does board gender diversity matter?
Moussa, T., Allam, A. & Elmarzouky, M., 2 Jan 2024, In: Business Strategy and the Environment. 32, 8, p. 5382-5402 21 p.Research output: Contribution to journal › Article › peer-review
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Open access
Beyond compliance: how ESG reporting influences the cost of capital in UK firms
Moussa, A. S. & Elmarzouky, M., 26 Jul 2024, In: Journal of Risk and Financial Management. 17, 8, 20 p., 326.Research output: Contribution to journal › Article › peer-review