Sinda Hadhri

Associate Professor at UCLy

8. Sustainable Business and Organisations

Campus Lyon - Saint Paul
10 Place des archives 69002 Lyon


  • Member of Sustainable Business and Organizations research group, UR CONFLUENCE : Sciences et Humanité (EA 1598) Lyon Catholic University
  • Teacher, ESDES Lyon Business School Lyon Catholic University

Further information

Research areas

Portfolio management Financial markets Alternative markets Energy Finance Asset pricing Behavioral finance Financial economics

Teaching areas

Portfolio management Financial markets Finance Accounting


Sinda Hadhri  currently works as an assistant professor at ESDES Business School.  She does research in Portfolio management, Asset pricing, Behavioral finance, Energy markets and Ethical finance. She published a number of research papers in peer-reviewed journal such as Journal of Internationale Money & Finance, Pacific-Basic Finance Journal, Economic Systems among others.
  • Articles
    • Articles in peer-reviewed journals
      • BILLAH MABRUK SYED, Mabruk Syed, HADHRI, Sinda, BALLI, Faruk, SAHABUDDIN , Mohammad (2024). «Exploring the dynamic links, implications for hedging and investment strategies between sukuk and commodity market volatility: Evidence from country level analysis». International Review of Economics and Finance, 93, part A, 350-371.  [+]
      • BILLAH MABRUK SYED, Mabruk Syed, HADHRI, Sinda, HOQUE, Mohammad Enamul , BALLI, Faruk (2024). «A Multi-Dimensional Connectedness and Spillover between Green Bond and Islamic Banking Equity: Evidence from country level analysis». Pacific-Basin Finance Journal, 83, 102258.  [+]
      • HADHRI, Sinda (2023). «Do cryptocurrencies feel the music?». International Review of Financial Analysis, 89, 102779.  [+]
      • HADHRI, Sinda (2023). «News-based economic policy uncertainty and financial contagion An international evidence». Quarterly Review of Economics and Finance (QREF), 90, 63-76.  [+]
      • UMAR, Zaghum, ABRAR, Afsheen, HADHRI, Sinda, SOKOLOVA, Tatiana (2023). «The connectedness of oil shocks, green bonds, sukuks and conventional bonds». Energy Economics, 119, 106562.  [+]
      • BILLAH, Mabruk, ELSAYED, Ahmed H. , HADHRI, Sinda (2023). «Asymetric Relationship between Green Bonds and Sukuk Markets : The Role of Global Risk Factors». Journal of International Financial Markets, Institutions and Money, 83, 101728.  [+]
      • HADHRI, Sinda (2021). «The nexus, downside risk and asset allocation between oil and Islamic markets: A cross-country analysis». Energy Economics, 101, 105448.  [+]
      • HADHRI, Sinda (2021). «Fear of the coronavirus and cryptocurrencies' returns». Economics Bulletin, 41, 3, 2041-2054.
      • HADHRI, Sinda, FTITI, Zied (2019). «Commonality in liquidity among Middle East and North Africa emerging stock markets: Does it really matter?». Economic Systems, 43, 3-4, art. 100699.  [+]
      • HADHRI, Sinda, FTITI, Zied (2019). «Asset allocation and investment opportunities in emerging stock markets: Evidence from return asymmetry analysis». Journal of International Money and Finance, 93, 187-200.  [+]
      • HADHRI, Sinda, FTITI, Zied (2019). «Can economic policy uncertainty, investor sentiment and oil prices predict islamic stock returns ?: A multi-scale perspective». Pacific-Basin Finance Journal, 53, 40-55.  [+]
      • HADHRI, Sinda, FTITI, Zied (2017). «Stock return predictability in emerging markets: Does the choice of the predictors and models matter across countries ?». Research in International Business and Finance, 42, 39-60.  [+]
    • Clinical Articles
      • HADHRI, Sinda (2024). «Effectuer des prédictions sur le marché des cryptomonnaies… grâce à Spotify !». The Conversation.  [+]
    • Articles in non-peer reviewed journals
      • ELSAYED AHMED, Ahmed, BILLAH MABRUK SYED, Mabruk Syed, GOODELL, John W., HADHRI, Sinda (2024). «Examining connections between the fourth industrial revolution and energy markets». Energy Economics, 133, 107476.  [+]
  • Forthcoming
    • HADHRI, Sinda (forthcoming). «How does Bitcoin react to economic discomfort ? Evidence from the economic index». Economics Bulletin.
    • HADHRI, Sinda (forthcoming). «The role of migration fear in (dis)connecting stock markets». Finance Research Letters.
    • HADHRI, Sinda, ZAGHUM UMAR, Zaghum, ABAKAH, Emmanuel Joel Aikins, USMAN, Muhammad, UMAR, Muhammad (forthcoming). «Return and volatility spillovers among oil price shocks and international green bond markets». Research in International Business and Finance.
    • HADHRI, Sinda, OUHADOUCH, Sadek (forthcoming). «Government intervention during the Covid-19 pandemic and stock liquidity and volatility: Evidence from France». Bankers, Markets & Investors (ex Banque et Marchés).
  • Communications (conferences, seminars, study days)
    • HADHRI, Sinda (2024). «Quantile connectedness in return and volatility among AI tokens and semiconductor stocks». 1rst Quantitative Finance & Data Analytics Meeting (QFDAM 2024), ESSCA School of Management, May 2024, Paris, France.
    • HADHRI, Sinda (2024). «Tail Risk Connectedness Between DeFi and Islamic Assets and their determinants: Evidence from TVP-VAR and Wavelet Coherence». 2nd International Conference on Sustainable Business Practices in a VUCA World - ICSBP2024, Rabat Business School, May 2024, Rabat, Morocco.
    • OUHADOUCH, Sadek, HADHRI, Sinda, OUATTRA, Kadohognon Sylvain (2022). «Competition, Board Structure and Earnings Quality of Family Firms». Conférence internationale de gouvernance (CIG), Association Académique Internationale de Gouvernance (AAIG), June 2022, Toulouse, France.
    • HADHRI, Sinda (2019). «Economic policy uncertainty and financial contagion». 1st Financial Economic Meeting (MEF-2019), EDC Paris Business School (France), University of Carthage, IHEC Carthage (Tunisia), University of Montpellier (France), ISC Business School, December 2019, Hammamet, Tunisia.
    • HADHRI, Sinda, FTITI, Zied (2019). «Do return seasonalities matter in investment decision-making? Evidence from emerging markets». 4th International workshop on “Financial markets and nonlinear dynamics” (FMND), Université de Lille, May 2019, Paris, France.
    • HADHRI, Sinda, FTITI, Zied (2017). «Asset allocation and investment opportunities in emerging stock markets: Evidence from return asymmetry analysis». 9th International Finance Conference (IFC 9), ISC Business school Paris, March 2017, Paris, France.
    • HADHRI, Sinda, FTITI, Zied (2015). «Stock return predictability in emerging markets: Does the choice of predictors and models matter across countries?». 6e Conference International Research Meeting in Business and Management (IRMBAM), IPAG Business School , ESC Troyes, Université Nice Sophia Antipolis, July 2015, Nice, France.
  • Popularization & dissemination of research
    • HADHRI, Sinda (2023). «Obligations vertes et obligations islamiques : nouveaux atouts de couverture contre les risques globaux». Le Blog de l'ESDES.
    • HADHRI, Sinda (2022). «La pandémie de Coronavirus a-t-elle impacté le marché des cryptomonnaies ?». Le Blog de l'ESDES.
    • (2021) «Investisseur en cryptomonnaies : une « machine à cash » ?». Nos experts en exclu, February 2021, Monde des grandes écoles et universités, France.
  • Editorial activities
    • Development activities of books / journals / articles
      • Ad-hoc reviewers, Economics Bulletin, 2021
      • Ad-hoc reviewer, International Journal of Economics and Finance, 2020
      • Reviewer, Applied Economics
      • Reviewer, Finance Research Letters
      • Reviewer, International Review of Economics and Finance
  • Academic background
    • 2017 PhD in Management Sciences, Alternatives d'investissement et opportunités d'arbitrage offertes par les pays émergents: trois essais empiriques, Institut supérieur de gestion de Tunis, Tunisia
  • Educational responsibilities and professional experiences
    • Since 2019 Teacher, ESDES Lyon Business School, Lyon Catholic University, France
    • 2017 - 2019 Teacher in Finance, Tunisia
    • 2017 - 2019 Teacher, Tunisia
  • Teachings
    • 2019 - 2021 Business Strategy Game, ESDES, France
    • 2019 - 2021 Comptabilité analytique, ESDES, France
    • 2019 - 2021 Gestion de portefeuille 2, ESDES, France
    • 2019 - 2021 Investissement Socialement Responsable, ESDES, France
    • 2019 - 2021 Research Methodology, ESDES, France
  • Languages
    • English - Able to teach
    • French - Able to teach