UAN:111-000-010
GC University, Lahore
info@gcu.edu.pk

GCU Faculty

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Ali Raza Elahi

Ali Raza Elahi

Assistant Professor / In-Charge
Department: Commerce & Finance
Email: alirazaelahi@gcu.edu.pk
Research Interests: Behavioral Finance,
Corporate Finance,
Risk Management,
Sustainability in Finance
Office Location: PGB- 325
Contact Number: 111-000-010 (280)
Personal Website : https://gcu.edu.pk/faculty-profile.php?id=1100
Biography

Dr. Ali Raza Elahi is a distinguished scholar and academic leader currently serving as Chairperson of Commerce & Finance and Assistant Professor of Accounting & Finance at Government College University Lahore. He earned his PhD in Business Administration from NCBA&E with a CGPA of 3.80, following an MS in Banking & Financial Economics from GCU Lahore. His research interests encompass entrepreneurial finance, behavioral finance, sustainable development, and risk management.

Prior to his academic career, Dr. Elahi held professional roles at MCB Bank Limited, where he developed substantive expertise in credit analysis, lending operations, financial statement evaluation, and SBP eCIB interpretation. This practical grounding informs his pedagogical approach and enhances the applied relevance of his teaching.

Since joining GCU in 2016, he has taught a range of postgraduate courses including Financial Markets and Institutions, Portfolio Management, Corporate Governance, Islamic Banking, and quantitative research software applications. His research contributions appear in reputable journals such as Frontiers in Psychology, Cogent Economics & Finance, and Public Organization Review. He also serves as an HEC-approved supervisor, journal reviewer, and external examiner for various universities.

Education
2022  PhD in Finance, National College Of Business Administration And Economics Lahore, Pakistan
2013  MS/MPhil in Banking And Financial Economics, Government College University Lahore, Pakistan
2009  BA/BSc(Hons) in Finance, Hailey College Of Commerce, University Of Punjab Lahore

Teaching Areas

Financial Markets and Institutions
Investment & Portfolio Management
Managerial Accounting
Risk Management in Banks
Islamic Banking and Finance
Insurance & Risk Management
Banking Law & Practices
Experience
From To Designation Firm/Institution
Jan 2024 Continue In-charge Government College University, Lahore
May 2022 Continue Assistant Professor Government College University, Lahore
May 2016 May 2022 Lecturer Government College University, Lahore
Jan 2012 May 2016 Credit Analyst MCB Bank Limited
Feb 2011 Dec 2011 General Banking Officer MCB Bank Limited

Journal Papers

Muhammad Usman, Ali Raza Elahi (2025). "A Strategic Framework for Addressing Modern Procurement Challenges: Disruptions, Digitalization, and ESG Compliance." Annual Methodoligical Archive Research Review, 3 (12), 298-326. [Link]
Fatima, A., Munir, A. F., Elahi, A. R., Tariq, M., & Naqash, M. (2025). "Consequences of Climate Change on Food Security: Evidence from Asian and Pacific Economies." The Critical Review of Social Sciences Studies, , .
Muhammad Bilal, Dr. Waqas Khan, Dr. Ali Raza Elahi, Dr. Ali FayyazMunir (2025). "Impact Of Hydrocarbon Fuels On The Economic Growth." Annual Methodoligical Archive Research Review, 3 (12), 234-248. | Impact Factor: Y Category [Link]
Ahmad, N., Khan, W., Elahi, A. R., & Haris, M. (2025). "Integrating intellectual capital and sustainable leadership to strengthen green business innovation and sustainability of SMEs." Journal of Enterprise Information Management, , . | Impact Factor: 6.4
Ashfaq, F., Abid, G., Ilyas, S., & Elahi, A. R. (2025). "Sustainable leadership and work engagement: Exploring sequential mediation of organizational support and gratitude." Public Organization Review, , . | Impact Factor: 1.7
Tariq, M., Elahi, A. R., Zainab, Z., & Ashfaq, F. (2025). "Sustainable SME development: analysis of green pathways through leadership, culture and innovation." International Journal of Ethics and Systems, , . | Impact Factor: 3.2
Muhammad Usman, Ali Raza Elahi (2025). "Top Management Commitment to Sustainability and Green Supply Chain Management: The Mediating Roles of Organizational Culture and Strategic Orientation." Journal for Current Sign, 3 (4), 1397-1415. [Link]
Zahra, Z., Elahi, A. R., Khan, W., Mehmood, B., & Sohail, M. (2025). "Unraveling the effects of COVID-19 on the textile industry in South Asia region: a comparative study of major players." Kybernetes, , . | Impact Factor: 2.9
Majid, S., Haleema, S., Chaudhary, M. G., Elahi, A. R., & Ahmad, N. (2024). "Corporate Profitability and Cost of Capital Evaluation of ESG Performance: Evidence from a Multi-Industry Analysis." Contemporary Journal of Social Science Review, , .
Khan, W., Nisar, Q. A., Bilal, A. R., Yardimci, B., & Elahi, A. R. (2024). "Empirical nexus between firm characteristics, market characteristics, financial delinquency, and its analogy to access to finance for SMEs." Journal of the Knowledge Economy, , . | Impact Factor: 2.7
Azam, M., Butt, M. U., & Elahi, A. R. (2024) (2024). "The Role of Managerial Discretion in the Firm Performance: A Case Study of Public Limited Firms of Pakistan." Journal of Management and Administrative Sciences, , .
Elahi, A. R., Khan, W., & Zainab, Z. (2024) (2024). "Working Capital Management, Hedging andMacroeconomics Covariates of Default Risk: A Textile Sector Analysis in Pakistan." International Journal of Management, , .
Mukhtiyar, R. M., & Elahi, A. R. (2023). "Artisanal Women Entrepreneur And Performance: The Mediating Role Of Government Support And Entrepreneurial Competencies." Bulletin of Business and Economics, , .
Munir, A. F., Elahi, A. R., & Majid, S. (2023). "Do different sectors affect equity risk premiums in emerging markets? evidence from asia." International Journal of Business Reflections, , .
Elahi, A. R., Shakir, H., & Ahmed, S. (2023). "Fostering Future Entrepreneurs: Exploring the Role of Extracurricular Engagement on University Campuses.." Journal of Management and Administrative Sciences, , .
Azam, M., Elahi, A. R., & Haque, S. U. (2023). "Managerial Discretion and Corporate Governance Mechanism: A Case Study of Public Limited Firms of Pakistan." Bulletin of Business and Economics, , .
Elahi, A. R., Iqbal, A., Minhas, B. A., & Ashfaq, F (2023). "The behavior risk biases and sustainable investment decision." Bulletin of Business and Economics, , .
Ahmad, N., & Elahi, A. R. (2023). "The Effectiveness of Promotion through Brochure Advertising on Merchandise Sales: A Case Study of Multiple Retail Stores of Pakistan." Journal of Policy Research, , .
Elahi, A. R., Majid, S., & Khan, W. (2022). "Cash Holding as a Risk Management Approach through the Lense of Institutional Entrepreneurship: Evidence from Financial Sector of Pakistan.." Pakistan Social Sciences Review, , .
Khan, W., Waqas, M., Ellahi, A. R., & Ali, Q. M. (2022). "Empirical Nexus Between Working and Financial Working Capital Management and Its Analogy to Capital Structure." International Journal of Business Reflections, , .
Aftab, A., Elahi, A. R., & Butt, M. M. (2022). "Factual Autonomy Predict Organizational Citizenship Behaviour and Counterproductive Work Behaviour in Industry Workers Mediated by Burnout." Journal of Development and Social Sciences, , .
Sattar, A., Hassan, A., Hussain, M. N., Sakhi, U., & Elahi, A. R. (2022). "Impact of foreign direct investment on socio-economic development in belt and road countries." Cogent Economics & Finance, , . | Impact Factor: 2.5
Rehman, S., Ullah, A., Naseem, K., Elahi, A. R., & Erum, H (2022). "Talent acquisition and technology: A step towards sustainable development." Frontiers in Psychology, , . | Impact Factor: 2.9
Majid, S., Elahi, A. R., & Ahmad, N. (2022). "The Impact of Environment Ethics and Performance on Firm Competitive Advantage: A Dynamic Capability Framework with Green HRM Practices." Journal of Development and Social Sciences, , .
Majid, S., Maryam, H., Elahi, A. R., Chaudhary, M. G., Awais, M., & Ikram, K. (2021). "CORPORATE INNOVATION AND PERFORMANCE NEXUS: THE MEDIATING ROLE OF ORGANIZATIONAL CULTURE." Journal of ISOSS, , .
Elahi, A. R., Ahmed, A., & Wrach, I. A. (2021). "Credit Rationing from Lenders Perspective: A Re-Appraisal." Journal of ISOSS, , .
Elahi, A. R., Ahmed, A., Majid, S., & Asif, M. F. (2021). "Critical factors associated with the access to bank credit: An exploratory study." Humanities and Social Sciences Reviews, , .
Awais, M., Elahi, A. R., Wahga, A. I., Majid, S., & Ikram, E. K (2021). "Entrepreneurial Financial Well-Being: A Conceptual Model Of Financial Literacy, Locus Of Control And Risk Tolerance Moderating Through Eq And Sq.." Journal Of Isoss, , .
Majid, S., Sultana, N., Abid, G., & Elahi, A. R. (2021). "The impact of corporate innovation on abnormal stock returns: The moderating role of investor sentiment." Academy of Strategic Management Journal, , .
Akram, M., Sattar, A., Khan, F., Khan, W., & Ellahi, A. R. (2019). "Investigating the Impact of BA (English Literature) Components in Enhancing the Confidence Level of Students." International Journal of English Language and Literature Studies, , .
Khan, W., Ellahi, A. R., & Mehmood, B. (2016). "IMPACT OF FINANCIAL SUPPLY CHAIN MANAGEMENT (FSCM) ON FINANCIAL PERFORMANCE OF TEXTILE SECTOR IN PAKISTAN: EMPIRICAL EVIDENCE FROM GENERALIZED METHOD OF MOMENTS." Science International, , .
Elahi, A. R., Mehmood, B., & Hussain Awan, M. M (2014). "Macroeconomic covariates of default risk: Case of Pakistani non-financial firms. Zagreb International Review of Economics & Business." Zagreb International Review of Economics & Business, , .

Conference Papers

1st Doctoral Conference (2013), University of Management and Technology. Lahore. Ali Raza Elahi. , Paper: "Macroeconomic covariates of default risk: Case of Pakistani non-financial firms"

Thesis/Research Supervisions

Ammarah Asghar (2025), MS/MPhil. Thesis: "Fostering Common Good HRM through Green Innovation and Financing: The Mediating Role of Sustainable Business Practices and the Moderating Role of Ethical Leadership" (Completed)
Asma Javed (2025), MS/MPhil. Thesis: "Unveiling the Nexus Between Fintech, Green Finance, and Green Innovation: The Impact of Greenwashing" (Completed)
Ghania Ahsan (2025), MS/MPhil. Thesis: "The Digital Financial Revolution: Investigating the Role of FinTech and Financial Literacy in Women Entrepreneurship" (Completed)
Mahnoor Tariq (2024), MS/MPhil. Thesis: "Sustainable SME Development: Green Pathways through Leadership, Culture, and Innovation" (Completed)
Naseer Ahmad (2024), MS/MPhil. Thesis: "The Role of Intellectual Capital, Innovation Capability, and Big Data Analytics in Increasing the Business Sustainability of Pakistan’s Banking Sector" (Completed)
Zahra Zainab (2024), MS/MPhil. Thesis: "Unravelling the Green Growth Formula: The Synergy of Innovation, Intellectual Capital, and Entrepreneurship in Driving SMES Success AMID Market Turbulence" (Completed)
Anum (2023), MS/MPhil. Thesis: "Impact of Behavioral Risk Biases on the Investment Decision with the Moderation of Perceived ESG" (Completed)
Sofia Ali (2023), MS/MPhil. Thesis: "Unraveling the Nexus of Employees attitude and Organizational Performance: The Role of Perceived Organizational Support" (Completed)
Imtiaz Ahmad Tarar (2023), MS/MPhil. Thesis: "Pathways to Sustainability: The Role of Environmental Orientation and Green Financing in Fostering Sustainable Production, Circular Economy and Improved ESG Performance" (Completed)
Mehak Shahbaz (2022), MS/MPhil. Thesis: "Financial Well Being and Financial Risk Taking, The Moderating and Mediating Role of Psychological Capital, Individual Creativity and Personal Growth Initiative" (Completed)
Asawra Asif (2022), MS/MPhil. Thesis: "Working Capital Management, Hedging and Macroeconomics Covariates of Default Risk: A Textile Sector Analysis" (Completed)
Muhammad Awais Khan (2022), MS/MPhil. Thesis: "Reputational Risk and Financial Performance Bonding: An Indication from Banking Industry in Pakistan" (Completed)
Hafiz Muhammad Najam ul Saqib (2022), MS/MPhil. Thesis: "Impact of Crypto Currency on Government Monetory Policy" (Completed)
Adnan Khalid (2021), MS/MPhil. Thesis: "Liquidity Preferences from the Lens of Hedging: A Case Study from the Chemical Sector of Pakistan" (Completed)
Muhammad Waqas Awais (2021), MS/MPhil. Thesis: "Does Corporate Social Responsibility Impact Abnormal Stock Returns: Evidence from Pakistan" (Completed)
Adeel Qaiser (2021), MS/MPhil. Thesis: "Seasoned Equity Offerings and Financial Decisions of the Corporate Firms" (Completed)
Naeem Irshad Kayani (2021), MS/MPhil. Thesis: "Investigating the Impact of Macroeconomic Variables and Investor Sentiment on Return of PSX" (Completed)
Muazzam Akram (2021), MS/MPhil. Thesis: "An Exploratory Study for Bifurcation in Selected Banking Laws for an Islamic Financial Model." (Completed)
Muhammad Awais (2020), MS/MPhil. Thesis: "Economists in The Economy: A New Insight to use The International Trade in the Context of Structural Change: A Qualitative Study of Pakistan" (Completed)
Bushra Sarwar (2020), MS/MPhil. Thesis: "Discrimination in Smes Lending: How Asymmetric Information, Moral Hazard, Adverse Selection And Lemon Problem Leads Towards Discrimination." (Completed)
Almira Ashraf (2020), MS/MPhil. Thesis: "Economic Implication of Forecasting the Foreign Exchange Rate: An Application of Neural Network In Pakistan." (Completed)
Sagheer Ahmad (2019), MS/MPhil. Thesis: "Nexus between Financial Supply Chain Management and Financial Performance of Textile Sector: A comparative study of South Asian Countries" (Completed)
Sami ul Haque (2019), MS/MPhil. Thesis: "Determinants of Corporate Hedging Activities" (Completed)
Umar Farooq (2019), MS/MPhil. Thesis: "Nexus Between Corporate Governance Attributes, Firm Performance and Earning Management: Evidence from Manufacturing Sector of Pakistan" (Completed)
Muqtadir Ahmed (2019), MS/MPhil. Thesis: "The effect of Credit Default Swap Trading on Firm’s Financing and Trading Policies." (Completed)
Babar Rafique (2019), MS/MPhil. Thesis: "Competitiveness, Innovation and Wealth Maximization: The Fruits of CSR" (Completed)
Ridma Ijaz (2018), MS/MPhil. Thesis: "Entrepreneurial Orientation and Firm’s Performance: the mediating role of Locus of Control and Financial Literacy" (Completed)
Madiha Asad (2018), MS/MPhil. Thesis: "Inflation and Commercial Banks Profitability relationship: A study of Pakistan" (Completed)
Hafiza Khizra Waseem (2018), MS/MPhil. Thesis: "Entrepreneurial Financial Well-Being: A conceptual Model of Financial literacy, Locus of Control and Risk tolerance moderating through EQ and SQ" (Completed)