Our people

Our people

Director - Professor Martina Linnenluecke

Professor Martina Linnenluecke's research interests focus on the strategic and financial implications of corporate adaptation and resilience to climate change impacts. Martina is the author of The Climate Resilient Organization and has extensive experience in working with government and industry on organisational climate adaptation strategies, assessments and planning.

Deputy Director - Mr Dan Daugaard

Dan is the Deputy Director responsible for Environmental, Social and Governance (ESG) research in the Centre for Corporate Sustainability & Environmental Finance. His current research focus is on deciphering the thematic structure of ESG investment research and investigating the key drivers affecting ESG fund flows. Dan is also the Deputy Head for the Applied Finance Department, teaches Investment subjects and supervises students writing case studies on Socially Responsible Investing (SRI). Prior to academia, Dan managed institutional investment portfolios and developed innovative investment products including one of Australia's first environmental superannuation funds.

Deputy Director - Dr Layla Branicki

Dr Layla Branicki is an interdisciplinary researcher specialising in individual and organisational resilience and the factors that enable people and businesses to cope with extreme events. Layla has a strong track record in winning and successfully delivering funded interdisciplinary research. She was a co-investigator on the first major project in the United Kingdom to examine the existing capacity of organisations, and networks of organisations, to manage emergencies. She was a co-investigator on the Engineering and Physical Sciences Research Council funded project 'Game Theory and Adaptive Networks for Smart Evacuations' and a workstream lead on the Economic and Social Research Council funded project 'The Summer After the Floods'

Key Academic Staff

Dr Di Bu

Di Bu is a Senior Lecturer at Macquarie University. Her primary research interest areas are credit risk modelling, financial econometrics, hedge funds and environmental finance.  His current research focuses on liquidity risk and expected returns, credit risk modelling with volatility forecasting, as well as climate change uncertainty in cross-sectional stock returns.

Dr Jianlei Han

Dr Jianlei Han joined Macquarie University in February 2018. He completed his PhD in finance at the University of Queensland and was the lecturer at the School of Business and Economics, University of Tasmania. He obtained a masters degree in statistics from Renmin University of China and a bachelor degree in applied mathematics and statistics from Tongji University (China). Jianlei’s current research interests include economic policy uncertainty, environmental finance, and empirical corporate finance.

Associate Professor James Hazelton

Dr James Hazelton is an Associate Professor in the Department of Accounting and Corporate Governance at Macquarie University. James specialises in business ethics and sustainability and has consulted, researched and taught extensively in these areas. For example, he led a team engaged by the Australian Bureau of Meteorology to analyse the benefits of adopting national water accounting standards and was part of a team engaged by the NSW Office of Environment and Heritage to develop energy efficiency training for the accounting profession. James developed and teaches the undergraduate unit Measuring Sustainability and has developed and teaches undergraduate and postgraduate units in business ethics. His current projects include the use of General Purpose Accounting reports by the NSW Office of Water, accounting for mercury under the Minamata Convention, accounting for carbon emissions by cities, accounting for (in)equity, the disclosure of corporate political donations and the development of optimum habits for professional excellence. Prior to his academic career, James worked for Price Waterhouse Coopers on audit and risk management.

Dr Terry Pan

Dr Zheyao (Terry) Pan joined Macquarie University in December 2017. He completed his PhD in finance at the University of Queensland and was a lecturer in the Department of Accountancy and Finance, University of Otago (New Zealand). He obtained a masters degree in economics from Xiamen University (China) and a bachelor degree in economics from Southwestern University of Finance and Economics (China). Terry’s current research interests include asset pricing tests, environmental finance, and empirical corporate finance.

Dr Abhay Singh

Abhay Singh is a Senior Lecturer/Director, Finance Decision Lab, Department of Applied Science and Actuarial Studies at Macquarie University. He is a quantitative researcher in data analytics, social media analytics and finance. Abhay is particularly interested in new quantitative market risk models, econometrics and portfolio management, text mining, and social media analytics. He is experienced with modelling risk measures like VaR, CVaR, and multivariate dependence structures as well as in text analysis including, sentiment analysis, topic modelling, and clustering.

Associate Professor Clara Zhou

Associate Professor Clara Zhou has expertise in environmental finance, corporate finance and investment. Her specific research interests include the connection of these areas with asset pricing, cost of capital, risk management, liquidity and equity return. Her recent research agenda focuses on corporate capital structure instability and corporate business model changes, as well as big data analytics of corporate reports and media coverage.

Dr Ram Ranjan

Ram is resource economist with interests in water scarcity, biodiversity conservation and climate change mitigation and adaptation responses.  A unifying theme for his recent work has been managing risks through mitigation and adaptation measures as well as understanding how changes in natural environments create complex feedbacks in inter-linked human, ecological and economic systems.  Some of Ram’s current work has been towards modelling the optimal management of socio-economic and ecological systems exhibiting non-linear dynamics and  endogenous risks.

Examples include, understanding how aquatic systems respond to multiple stressors, threats to endangered biodiversity from invasive species and human activities, how farmers adapt to prolonged water scarcity through seeking alternative occupations, determinants of entrepreneurial ventures and success rates, quantifying and modelling resilience of water starved farmers, determinants and success of collective action in groundwater management, impact of climate induced salinity level rise on livelihood choices, REDD and REDD+ programs, and payments for ecosystem services.

Dr Grace Lepone

Grace is a lecturer at Applied Finance Department, teaching finance subjects to both undergraduate and postgraduate students. She obtained her PhD in Finance from Macquarie Graduate School of Management in 2017. As a CMCRC scholarship recipient, Grace’s PhD candidature was sponsored by the Corporate Governance Centre at the Australian Securities Exchange (ASX) and BT Financial Group, where her research work was in the capacity of research consultant (on directors’ trading and reporting at ASX) and market analyst and adviser (on investor psychology and behaviour at BT). Grace’s teaching and research topics include behavioural investment, behavioural corporate finance, corporate governance, market microstructure, business valuation, sustainability and fashion finance.

Our Centre Postdocs

Dr Ashley Ding


Dr Ashley Ding recently joined the Centre as a Postdoctoral Research Fellow. She completed her PhD in Finance while working as an associate lecturer in Finance at the University of Queensland. Prior to this, she achieved first class honors in Commerce and completed a Master of Financial Management at the Australian National University. Her current research interests include market volatility in fossil fuel and clean energy markets, asset pricing and cleantech innovation, ESG reporting, and climate policy uncertainty.

Dr Rui Xue


Dr Rui Xue recently joined the Centre as a Postdoctoral Research Fellow. He completed his PhD in Financial Big Data and Applied Statistics. His current research interests include Financial Big Data.

Dr June Cao

June Cao

Dr June Cao is a Postdoctoral Research Fellow at the Centre, teaching both finance and accounting. She is a both quantitative and qualitative researcher in environment finance, IFRS, environment audit, credit ratings and new institutional accounting research. June is good at multiple research methodologies including data analytics, archival, experiment, survey, systematic literature review and structural equation modelling. She is particularly interested in big data, machine learning, and textual analysis including topic modelling, tone management and hard and soft information disclosure. She enjoys reading, running marathons, yoga and nature.

International Collaborations

We have established successful collaborations with leading experts – including Professor Bob Whaley (Vanderbilt University, United States), Professor Baljit Sidhu (University of Sydney) and Professor Matthew Richardson (New York University Stern School of Business) – and with a research network of colleagues across Europe, North America and Australasia. There are 9 PhD students in the area who are being supervised by the Macquarie-based team.

Research Students

Martin GroenZero growth: Implications for economic demand and the global financial system
Danny Zhao Xiang Huang

Doing good and good returns – how and to what extent does developing and implementing ESG (environment, social, governance) principles impact the profitability and cost of capital of firms?

Victor Maxwell

Cleantech: Economic adaptation or appropriation

Roxana Pincheira

Environmental risk: Planetary boundaries and implications for capital markets

Anguo WangReal options and clean technology opportunities
Luluk Widyawati

The role of sustainability reporting in improving corporate performance

Ali Shimbar

Stranded Assets: Implications for Fossil Fuel Intensive Firms

Recent PhD's Awarded

Dr June CaoThe Influence of Formal and Informal Chinese Institutional Environments on Intended and Unintended Consequences of IFRS Convergence
Dr Ashley DingEnvironmental delta: essays on energy, volatility and climate change
Dr Bruce MortimerStrategic decision-making for climate change: Dominant discourses and sensemaking for extreme dry weather events
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