Dr Hari Gopal Risal

Hari Gopal Risal is an Associate Lecturer in the School of Finance and Management at SOAS University of London. He holds a PhD in Green and Sustainable Finance from the University of Strathclyde.

Hari holds over fifteen years of academic experience across the UK and South Asia and has taught a wide range of finance, accounting, and economics courses at undergraduate, postgraduate, and executive levels. Prior to joining SOAS, Dr Risal served as a Tutor in Accounting and Finance at the University of Strathclyde, teaching at both undergraduate and postgraduate levels. He also served as an Assistant Professor of Finance and Accounting at Kathmandu University School of Management, where he also held several leadership roles, including Head of Undergraduate Programmes and Research Degree Programme Coordinator. 

Dr Risal plays an active role in the academic community as an Associate Editor of SN Business and Economics and serves as a reviewer for a range of international journals, including Business Strategy and the Environment, Bulletin of Economic Research, Review of Accounting and Finance, Journal of Sustainable Finance and Investment, and The Journal of Risk Finance.

Beyond academia, Dr Risal has contributed to high-impact policy and industry projects. He provided research support to the Scottish Government’s Investor Panel, focusing on attracting global capital to support the net-zero transition. He has also worked with Scottish and Southern Electricity Networks (SSEN) Transmission on sustainability strategy, contributing to applied research at the intersection of finance, infrastructure, and climate policy. These engagements reflect his commitment to ensuring that academic research informs real-world decision-making in both public and private sectors.

Working papers

• The Demand for Greenness (with C. Thapa, A. Marshall, B. Neupane and A. Krebbers). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4419543
• Signalling or Legitimising? Determinants of Voluntary Impact Reporting by Green Bond Issuers (with A. Marshall, C. Thapa and B. Neupane).

Publications (peer-reviewed)

• Karki, D., & Risal, H. G. (2021). Rural entrepreneurship in wintergreen oil. FIIB Business Review, 11(1), 23–29.
• Risal, H. G., & Panta, S. B. (2019). CAMELS-Based Supervision and Risk Management: What Works and What Does Not. FIIB Business Review, 8(3), 194–204.

Publications (regulatory/policy-oriented)

• Risal, H. G., & Koju, P. (2021). Testing the Weak Form of Efficiency in Nepalese Stock Markets. SEBON Journal, 8(1), 20–33.
• Risal, H. G., & Poudel, S. (2020). Role of Credit Risk in Performance Difference between A and B Class Banks in Nepal. NRB Economic Review, 32(1), 37–53.
• Karki, D., & Risal, H. G. (2019). Asymmetric Impact of Oil Price on Inflation: Evidence from Nepal. NRB Economic Review, 31(1), 21–46.

Selected conferences and presentations

• What Motivates the Green Bond’s Impact Reporting? International Accounting and Finance Doctoral Symposium (IAFDS), Madrid (2025)
• What Motivates the Green Bond’s Impact Reporting? Scottish Doctoral Colloquium, University of Dundee (2025)
• The Demand for Green Bonds, Worldwide Evidence.  Adam Smith Sustainability Conference & British Accounting Review Conference (2024)
• Is There a Demand for Green Bonds? IFABS Oxford (2023)
• Drivers of Green Bonds, Worldwide Evidence. ScotDoc Conference (2024)

Green and sustainable finance; ESG; financial regulations; investment, risk, disclosure and reporting.

• Google Scholar
• ORCID
• LinkedIn