Dr Dongna Zhang

My research encompasses financial economics, energy economics, macro-finance, empirical asset pricing, corporate finance, sustainable finance, green finance, climate finance, inclusive finance, climate resilience, and net-zero transitions. Through my research, I aim to deepen understanding of financial systems, energy markets, technological innovation, and sustainability transitions, providing insights that inform strategic decision-making, policy development, and sustainable economic growth.

My areas of expertise include:

• Financial economics, corporate finance, macro-finance, and empirical asset pricing.
• Sustainable finance, green finance, climate finance, ESG investing, and climate risk assessment.
• Firm investment, intangible assets, productivity, industrial strategy, and economic development.
• Developing and evaluating business and financing models for emerging technologies, including hydrogen systems, circular economy solutions, carbon mitigation technologies, and other clean energy innovations.
• Assessing investment risks, financing mechanisms, and pathways for mobilising public and private capital to support climate resilience and net-zero transitions.
• Analysing the economic, societal, and stakeholder dimensions of climate and energy technologies, including public engagement, stakeholder participation, co-design, and co-production approaches.
• Investigating societal and community acceptance of climate and energy technologies, public perceptions of climate innovations, and engagement strategies that support a just transition to net zero.
• Supporting policy development, evaluation, and impact pathways that facilitate technology uptake, innovation diffusion, and wider societal benefits.
• Designing and undertaking feasibility studies, economic appraisals, cost-benefit analysis, and cost-effectiveness analysis of projects, policies, and technologies.
• Applying efficiency and productivity assessment techniques, including Data Envelopment Analysis (DEA), to evaluate the performance of organisations, projects, sectors, and socio-technical systems.
• Conducting input-output life-cycle assessment (LCA) and broader sustainability evaluations to assess environmental, economic, and social impacts.
• Examining the interactions between financial variables, real-world economic outcomes, environmental performance, and sustainability objectives.

My research contributes to advancing knowledge on sustainable investment, climate and energy transitions, green innovation, and inclusive economic development, while generating practical recommendations for policymakers, industry stakeholders, investors, and communities.

• Please visit the Pure Research Information Portal for further information
• AI and carbon pricing in turbulent times: Navigating market dynamics for a sustainable future, Elsayed, A., Khalfaoui, ., Zhang, D., Urquhart, A. 1 Nov 2025, In: International Review of Financial Analysis
• Balance of payments and currency policy in China's development, Carnevali, E., Passarella, M., Zhang, D. 1 Sep 2025, In: Structural Change and Economic Dynamics
• Do green assets enhance portfolio optimization? A multi-horizon investing perspective, Zhang, D., Dai, X., Wang, Q. 1 Sep 2025, In: British Accounting Review
• Financial Deepening, Financial Inclusion, and Agricultural Investment: Evidence from International Panel Data, Zhang, D., He, Z., Morgan, P. May 2025
• Multi-timescale resilience of China's green finance market to climate policy uncertainty shock: Does environmental policy stringency matter?, Wang, B., Zhang, D., Xue, J., Wang, Q. 1 Nov 2025, In: Journal of Environmental Management
• Emissions Prices, Commodity Futures, Equity Prices, and Geopolitical Risks Dependence Structure: Implications for Portfolio Diversification, Lau, C., Soliman, A., Zhang, D., Apergis, N. 13 Nov 2024, In: Emerging Markets Finance and Trade
• Energy Price Inflation, Geopolitical Risk, and Bitcoin Dependence Structure: Evidence from BRICS, Lau, C., Soliman, A., Zhang, D. 25 Sep 2024, In: Emerging Markets Finance and Trade
• Incorporating weather information into commodity portfolio optimization, Zhang, D., Dai, X., Xue, J. 1 Aug 2024, In: Finance Research Letters
• Support Policies for Small Businesses During the Covid-19 Crisis: Evidence from Club Convergence Clustering Approach, Lau, C., Zhang, D., Gozgor, G. 19 Feb 2024, In: Emerging Markets Finance and Trade
• Tail risk spillover network among green bond, energy and agricultural markets under extreme weather scenarios, Xue, J., Dai, X., Zhang, D., Nghiem, X., Wang, Q. Nov 2024, In: International Review of Economics and Finance

• Babar Ahmad Climate Transition Risk and Banking; The Prudential Effect in the United states and United Kingdom Start Date: 01/10/2023
• Babar Ahmad Climate Transition Risk and Banking; The Prudential Effect in the United states and United Kingdom Start Date: 01/10/2023 End Date: 17/10/2025

Economics PhD