Dr Savva Shanaev

Assistant Professor

School: Newcastle Business School

Dr Savva Shanaev is a Lecturer in Finance at the Accounting and Financial Management department at Newcastle Business School.

Savva's research interests include but are not limited to asset pricing, financial econometrics, anomalies on financial markets, alternative investment, economics of cryptocurrencies, international finance, and econometrics of economic growth.

Savva has widely published in reputed finance and economics journals, such as European Journal of Finance, Finance Research Letters, Journal of Alternative Investments, Research in International Business and Finance, Journal of Behavioural and Experimental Finance, and Journal of Risk Finance. He also served as a reviewer for multiple ABS-ranked journals, including Finance Research Letters, Applied Economics, and Emerging Markets Finance and Trade.

At Northumbria University, Savva is currently teaching on modules revolving around financial management, risk management, derivatives, quantitative finance, and mathematics. He is passionate about research-informed teaching and the blended learning approach, leading an educational YouTube channel in his spare time.

Before joining Northumbria University, Savva has studied International Economics at Finance University in Moscow, Russia, and has been a consultant and a researcher at Federal Centre for Project Finance at Vneshekonombank, a Russian development bank.

Apart from working matters, Savva is an avid Liverpool fan. His hobbies also include poetry, linguistics, European history, and gaming.

Email Savva

Research Themes and Scholarly Interests

Savva's research interests include but are not limited to asset pricing, financial econometrics, anomalies on financial markets, alternative investment, economics of cryptocurrencies, international finance, and econometrics of economic growth.

Key Publications

Please visit the Pure Research Information Portal for further information
ESG ratings in motion: the global market response to upgrades and downgrades, Vasenin, M., Shanaev, S., Panta, H., Ghimire, B. 3 Apr 2026, In: Journal of Sustainable Finance and Investment
Improved Computational Approach for Markowitz Portfolio Optimisation, Ghimire, B., Shanaev, S. 3 Jan 2026, The Future of Accounting and Finance, Cham, Switzerland, Springer
When Bitcoin is high: cryptocurrency value, illicit markets and US marijuana bills, Shanaev, S., Johnson, E., Vasenin, M., Panta, H., Ghimire, B. 18 Jul 2024, In: Journal of Financial Regulation and Compliance
Analyst herding – whether, why, and when? Two new tests for herding detection in target forecast prices, Reveley, C., Shanaev, S., Bin, Y., Panta, H., Ghimire, B. 28 Dec 2023, In: Economics and Business Review
LGBT CEOs and Stock Returns: Diagnosing Rainbow Ceilings and Cliffs, Shanaev, S., Skorochodova, A., Vasenin, M. 1 Oct 2023, In: Research in International Business and Finance
Turn-of-the-candle effect in bitcoin returns, Shanaev, S., Vasenin, M., Stepanov, R. Mar 2023, In: Heliyon
A Generalised Seasonality Test and Applications for Cryptocurrency and Stock Market Seasonality, Shanaev, S., Ghimire, B. 1 Nov 2022, In: Quarterly Review of Economics and Finance
Effects of official versus online review ratings, Ghimire, B., Shanaev, S., Lin, Z. 1 Jan 2022, In: Annals of Tourism Research
The Groundhog Day stock market anomaly, Shanaev, S., Shuraeva, A., Fedorova, S. 1 Jun 2022, In: Finance Research Letters
When ESG meets AAA: The effect of ESG rating changes on stock returns, Shanaev, S., Ghimire, B. 1 May 2022, In: Finance Research Letters

PGR Supervision

Kehinde Lateef Omirinde The Relationship Between Risk Management Practices and Financial Performance in Banks Start Date: 01/10/2025 End Date: 17/10/2025
Oluwaseun Onadeko Forms Of Government Market Participation: Their Effects On Business And The Financial Markets Start Date: 01/10/2025 End Date: 17/10/2025
Oluwaseun Onadeko Forms Of Government Market Participation: Their Effects On Business And The Financial Markets Start Date: 01/10/2025
Jordan Carr The Impact of Geopolitical Risk on Stock Market Performance. Start Date: 01/10/2024 End Date: 03/05/2025
Kehinde Lateef Omirinde The Relationship Between Risk Management Practices and Financial Performance in Banks Start Date: 01/10/2025