Dr Muhammad Sanusi
Programme Leader for MSc Accounting (ACCA Pathway)
Muhammad Surajo Sanusi is a Senior Lecturer in Accounting and Finance and the Programme Director for MSc Accounting (ACCA Pathway). Before joining the University of Chester, he was a Senior Lecturer in Finance at Birmingham City University and a Faculty Lecturer at Liverpool Hope University.
He completed his PhD in Finance on market efficiency, volatility behaviour, seasonality analysis, and asset pricing modelling. He specialises in financial econometrics, securities and investment analysis, advanced financial management, and strategic risk management. He is a fellow of the UK Higher Education Academy (HEA), a fellow of the Association of Chartered Certified Accountants (ACCA), a fellow of the Association of National Accountants of Nigeria (ANAN), and a chartered member of the Institute of Chartered Accountants of Nigeria (ICAN).
He is also a senior member of the UK Chartered Institute for Securities and Investment (CISI), the largest and most widely respected professional body for the securities and investment profession in the UK and in a growing number of financial centres globally. He is an external examiner and a consultant for many companies, universities, and professional bodies across the globe.
Dr Sanusi is the module leader for Advanced Financial Management under the MSc Accounting (ACCA Pathway) programme. He also teaches other modules under the department's undergraduate and postgraduate programmes.
Market efficiency tests
Financial market operations
Stock market volatility analysis
Asset pricing modelling
Financial time series analysis
Financial reporting
Seasonality analysis
Event studies
Journal Articles
Sanusi, M. S. (2021). Action research to reassess the effectiveness of a blended learning approach in postgraduate business education using unified theory of acceptance and use of technology model. Working Paper 11. Centre for Applied Finance and Economics (CAFE), Birmingham City Business School, Birmingham City University, Birmingham.
Sanusi, M.S. and Ahmad, F. (2019). Measuring the predictability of the oil and gas stock returns and the performances of moving average trading rules. Journal of Economics and Financial Analysis, 3(1), 47-70.
Sanusi, M. S. (2018). A critical overview of the transparency and competitiveness of the London stock exchange. Risk Governance and Control: Financial Markets & Institutions, 8(2), 74-83.
Sanusi, M.S. (2017). Investigating the sources of Black’s leverage effects in the UK oil and gas stocks. Cogent Economics and Finance, 5, 1-13.
Sanusi, M.S. and Ahmad, F. (2016). Modelling oil and gas stock returns using multi factor asset pricing model including oil price exposure. Finance Research Letters, 18, 89 - 99.
Sanusi, M.S. and Ahmad, F. (2016). An analysis of seasonality fluctuations in the oil and gas stock returns. Cogent Economics and Finance, 4 (1), 1 – 24.
Sanusi, M.S. (Forthcoming). Detection of change point in the random coefficient autoregressive parameter of the international stock markets during crisis. Work-in-progress.
Sanusi, M.S. (Forthcoming). The effect of cross-listing on information asymmetry and stock price efficiency in home market: A case study of oil and gas companies. Work-in-progress.
Conference Papers
Sanusi, M. S. (2017). Review of the sources of Black’s leverage effects in the UK oil and gas stocks. Presentation at the 24th Annual Conference of the Multinational Finance Society, held at InterContinental Hotel, Bucharest, Romania, June 2017. (Discussant/Editor: Dimitris Tsouknidis – Cyprus University of Technology, Cyprus).
Sanusi, M. S. (2016). Modelling and Forecasting the Volatility of FTSE UK Oil and Gas Index Using Symmetric and Asymmetric GARCH Models. Presentation at the 23rd Annual Conference of the Multinational Finance Society, sponsored by the Stockholm University Business School, Stockholm, Sweden, June 2016. (Discussant/Editor: Anupam Dutta - Vaasa University, Finland).
Sanusi, M. S. (2012). Analysing Volatility Behaviour and Market Efficiency of UK Oil and Gas Sector. Presentation at the 19th Annual Conference of the Multinational Finance Society, organised by the Department of Economics, Finance and Environmental Management, AGH University of Science and Technology, Krakow, Poland, June 2012. (Discussant/Editor: Tyler Brough - Utah State University, United States).
Sanusi, M. S. (2011). Analysing the Effective of Fundamental and Technical Analysis in Firm Valuation: A Case Study of Oil and Gas Sector in Nigeria. Presentation at the 18th Annual Conference of the Multinational Finance Society, sponsored by the Faculty of Economics and Management LUISS Guido Carli University, Rome, Italy, June 2011. (Discussant/Editor: Sirimon Treepongkaruna - University of Western Australia, Australia).
Academic Qualifications
• B.Sc. (Hons) Accounting
• M.Sc. Accounting and Finance
• Master of Business Administration (MBA)
• PhD in Finance
• Postgraduate Certificate in Research Methods
• Postgraduate Certificate in Learning and Teaching in Higher Education
Professional Memberships
• Fellow - Higher Education Academy (FHEA)
• Fellow - Association of Chartered Certified Accountants (ACCA)
• Fellow - Association of National Accountants of Nigeria (ANAN)
• Chartered Member - Institute of Chartered Accountants of Nigeria (ICAN)
• Chartered Member - Chartered Institute for Securities and Investment (CISI)
• Chartered Member - Chartered Institute of Taxation of Nigeria (CITN)
Training Certificates – Short Courses
• Oxford Fintech Programme - University of Oxford
• Econometrics Summer School - University of Cambridge
• EViews Forecasting Summer School - City University London
• Trading and Financial Market Analysis - Amplify Trading London