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Dr. Supriya Kapoor

Assistant Professor (School Office Trinity Business School)
      
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Dr. Supriya Kapoor

Assistant Professor (School Office Trinity Business School)

 SUPRIYA.KAPOOR@tcd.ie

 3531896 4016


Dr. Supriya Kapoor is an Assistant Professor in Finance at Trinity Business School, Trinity College Dublin, and a Research Affiliate at the Central Bank of Ireland. She holds a PhD in Financial Economics from University College Dublin, an MSc in Economics from Trinity College Dublin, and a B.A. (Hons) in Economics from the University of Delhi, India. Her research sits at the intersection of macro-finance, corporate finance, and climate finance, with a primary focus on monetary policy, banking, financial intermediation, and firm behaviour. She examines how large-scale economic and regulatory policies transmit through financial institutions to affect corporate financing, investment decisions, credit allocation, and financial stability. Her corporate finance work explores firm financing structures, earnings-based versus collateral-based lending, and investment responses to monetary shocks. In climate finance, she studies how climate-related risks and policy uncertainty influence bank lending, credit pricing, and systemic resilience. Her research has been published in leading international journals, including Journal of Financial Stability, Journal of Banking & Finance, Small Business Economics, and International Journal of Central Banking. Her work is predominantly empirical, grounded in strong theoretical foundations, and carries clear implications for monetary, regulatory, and macroprudential policy. She has contributed to understanding the real effects of conventional and unconventional monetary policy, including asset purchase programmes, and their transmission to firms and credit markets. Dr. Kapoor has collaborated on research projects with scholars at the Central Bank of Ireland, European Central Bank, Banque de France, Sveriges Riksbank, Queen Mary University of London, and the University of Essex. She has been a funded Visiting Scholar at the Banque de France and Sveriges Riksbank. In March 2024, she was appointed Research Affiliate at the Macro-Finance Division of the Central Bank of Ireland. In recognition of the societal and policy impact of her research, she received the Research Impact Award (Best Societal Impact Award) 2025 from Trinity Business School. At Trinity Business School, she teaches Introduction to Finance, Financial Markets and Institutions, and Financial Management at undergraduate level; Applications in Risk Management and Financial Markets and Institutions on the MSc in Financial Risk Management; and Entrepreneurial Finance on the Flexible Executive MBA. In 2024, she designed and launched the undergraduate module BUU33760 Financial Markets and Institutions. She previously taught at University College Dublin, Maynooth University, and Dublin City University Business School, bringing over six years of teaching experience across leading Irish institutions. Her excellence in teaching was recognised with the Trinity College Dublin Inspiring Educator Award 2024/25. Out of more than 120 nominations across the College, she was selected as one of just 12 awardees, reflecting her commitment to student engagement and experiential learning. Dr. Kapoor currently serves as Programme Director for the MSc in Financial Risk Management. She has strengthened the programme's practical orientation by embedding company visits, practitioner-led guest lectures, applied case-based learning, and industry engagement into the curriculum. Under her leadership, the programme integrates macro-financial frameworks with real-world risk management challenges, enhancing professional readiness for careers in banking, central banking, asset management, and regulation. Beyond academia, she contributes to public discourse through articles and interviews for Euronews, The Conversation, and MeJudice, and has appeared on the podcast The Why Curve, discussing central banking and inflation.
  bank lending   Banking   CENTRAL BANKS   Corporate finance   ECONOMIC AND MONETARY UNION   economics and finance   ECONOMY   EUROPEAN CENTRAL BANK   EUROPEAN MONETARY SYSTEM   Finance   financial crises   Financial Economics   FINANCIAL INSTITUTIONS   impact of financial crisis   International Finance   Irish Economy   Macroeconomics, open economy, international   Monetary economics   MONETARY POLICY   SMALL OPEN-ECONOMY   Sustainable Finance
Details Date
I serve as External Examiner at Technological University of the Shannon: Midlands Midwest for a three-year term commencing in 2024. In this independent advisory and quality-assurance role, I review assessment practices, academic standards, curriculum and student outcomes within Finance-related programmes. I provide external judgement on whether academic standards are appropriate and comparable with those expected across the sector, alongside recommendations for programme enhancement. I value this responsibility because it allows my academic experience to contribute beyond Trinity and reflects external recognition of my expertise and judgement in Finance education. 2024-2027
I serve as a peer reviewer for international journals across banking, corporate finance, monetary policy and financial stability, including Journal of Financial Services Research, Journal of Small Business Management, Applied Economics, among others. Peer review is an important form of academic citizenship and allows me to contribute to maintaining the quality and integrity of scholarship beyond my own publications. My reviews focus not only on assessing methodological rigour and originality, but on providing constructive recommendations that can strengthen the research. Invitations to review in my specialist areas also reflect external recognition of my expertise and standing within the discipline. Ongoing
As a Research Affiliate at the Central Bank of Ireland, I contributed academic expertise to research examining banking, credit markets, monetary-policy transmission and financial stability. The role enabled me to work alongside central-bank researchers using granular financial data and to contribute to questions with direct relevance for financial policymaking. I pursued this engagement because I believe Finance research is particularly valuable when rigorous academic evidence can inform the institutions responsible for maintaining financial and economic stability. 2024 - 2026
Since 2022, I have served as Trinity's Academic Mentor for the CFA Institute Research Challenge, an international competition connecting university students with the professional investment community. I mentor students in financial analysis, company valuation, investment research and professional communication while ensuring that their analytical decisions remain independently developed. I undertook this role because I value creating opportunities for students to translate academic Finance into professional judgement. Trinity achieved first runner-up position in 2025, providing tangible evidence of the impact of this sustained mentorship. February 2024
Through visiting research appointments at international academic and policy institutions, including Banque de France, Sveriges Riksbank and SKEMA Business School, I have contributed to research exchange on banking, monetary policy and financial stability. These engagements have involved presenting and developing research, exchanging expertise with international scholars and policy researchers, and building collaborations that have continued beyond the visits themselves. Importantly, these appointments have enabled two-way knowledge exchange between academic Finance and institutions directly engaged with financial-policy questions, strengthening both my research and the international networks through which it contributes to the discipline. 2019-2025
I have served on internal PhD viva committees for multiple doctoral candidates at Trinity Business School, contributing independent academic judgement to the examination of doctoral research. This responsibility requires careful evaluation of the originality, methodological rigour and scholarly contribution of doctoral work, while ensuring that examination processes uphold Trinity's academic standards. I regard doctoral examination as an important form of academic citizenship: it safeguards the quality of the discipline while supporting emerging researchers at a defining stage of their academic development. 2023-2026
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Details Date From Date To
Research Affiliate, Macro-Finance Division, Central Bank of Ireland: I was selected as a Research Affiliate in the Central Bank of Ireland's Macro-Finance Division, providing external recognition of my expertise in banking, monetary policy and financial intermediation. The affiliation enabled me to collaborate with central-bank researchers on questions of direct relevance to financial policy, including how changing monetary and financial conditions affect banks, credit markets and firms. Working at this academic-policy interface has broadened the questions I ask, strengthened the policy relevance of my research and provided insights that also enrich my teaching at Trinity. The affiliation represents an important dimension of my research profile: combining rigorous academic Finance with research that speaks directly to contemporary challenges facing financial institutions and policymakers. March 2024 August 2026
Athena Swan Self-Assessment Team at Trinity Business School: I joined the Athena Swan Self-Assessment Team to contribute to a question that matters to the long-term strength of an academic institution: how do we ensure that talented people have equitable opportunities to develop and succeed? I contribute to the School's evidence-based review of equality, representation, career progression and institutional practices, helping identify barriers and inform practical actions for improvement. The role allows me to bring perspectives from across my experience as a researcher, educator and Programme Director to discussions about the culture in which colleagues and students develop. I see this as an important form of academic citizenship: contributing not only to my own academic career, but to building a School where excellence and inclusivity reinforce one another. July 2024 till date
Artificial Intelligence Task Force at Trinity Business School: I became involved in the Artificial Intelligence Task Force at a moment when generative AI was beginning to fundamentally challenge established assumptions about university education. As an educator working extensively with quantitative methods, Finance and empirical research, I was particularly interested in the implications for how we teach students to analyse problems, develop independent judgement and demonstrate genuine understanding. My motivation for joining the Task Force was therefore not simply to respond to the risks associated with AI, but to contribute to a more forward-looking discussion about what high-quality business education should look like in an environment where these technologies will increasingly form part of students' professional lives. This requires us to protect academic integrity while simultaneously asking whether our curricula, assessments and teaching practices remain appropriate for the world our graduates will enter. Participating in this work reflects how I approach academic leadership more generally. I believe academics should be willing to engage constructively with changes that challenge established practice rather than responding defensively to them. The Task Force has provided a forum in which I can contribute my experience across teaching, research and programme leadership to discussions about responsible innovation and the future direction of education within the School. April 2024 till date
Irish Society of Women in Economics (ISWE): I joined ISWE as my academic career in Ireland developed and I came to appreciate how strongly professional communities shape academic careers. ISWE connects women across Irish universities, public institutions and the wider profession, creating opportunities for intellectual exchange, mentorship and cross-institutional relationships. This is particularly relevant to my own career, which increasingly connects academic research with policy institutions. As I progress academically, I see membership not simply as access to a professional network, but as an opportunity to contribute to it: sharing experience, supporting researchers at earlier career stages, and helping strengthen the connections through which women can develop and thrive within the profession. 2023 till date
European Economic Association: My decision to join the European Economic Association reflects the increasingly European and internationally collaborative nature of my research. Much of my work examines monetary policy, banking, financial intermediation and firm financing within European institutional settings, and my research relationships with central banks and international collaborators have reinforced the importance of situating these questions within the wider European Economics community. Membership provides a connection to scholarship well beyond my immediate areas of specialisation. I consider this intellectual breadth important: some of the most interesting research questions emerge when ideas from neighbouring areas of Economics are brought into Finance and macro-finance. Remaining engaged with the wider discipline therefore helps me continually reassess the questions I ask, the empirical approaches I use, and how my research relates to larger economic debates. This outward-looking perspective also feeds directly into my teaching. I want students to encounter Finance not as an isolated technical discipline, but as something deeply connected to macroeconomic conditions, institutions, public policy and the behaviour of firms and households. My engagement with the EEA is consequently part of a wider commitment to remaining intellectually connected to an evolving international discipline. February 2023 till date
American Economic Association: I joined the American Economic Association during an important stage in the development of my independent research profile. My academic training lies at the intersection of Economics and Finance, and I have deliberately sought to preserve that breadth as my research has become increasingly specialised in monetary policy, banking and macro-finance. The AEA provides an important connection to the wider international Economics profession and to research traditions extending beyond the European institutional setting in which much of my own empirical work is situated. Maintaining this connection matters to me because I do not want my research agenda to become defined solely by a particular dataset, methodology or institutional context. Exposure to developments across Economics continually provides new ways of thinking about the questions underlying my research: how financial institutions respond to policy, how credit is allocated, how firms respond to financing conditions, and ultimately how financial-sector developments transmit to the real economy. Membership therefore forms part of a deliberate effort to maintain intellectual openness throughout my career. That breadth strengthens both my research and my ability to bring contemporary economic thinking into the Finance classroom. March 2021 till date
Guillaume Horny and Supriya Kapoor, Corporate investment response to an easing in bond funding cost, Journal of Banking and Finance, (107668), 2026, Journal Article, PUBLISHED  TARA - Full Text  URL
Marianna Blix Grimaldi and Supriya Kapoor, Different strokes for different banks: A heterogeneity analysis of Fed QE on bank lending, Journal of Financial Stability, 82, (101493), 2026, Journal Article, PUBLISHED  TARA - Full Text  DOI  URL
Supriya Kapoor, Adnan Velic, QE: Implications for Bank Risk-Taking, Profitability, and Systemic Risk, International Journal of Central Banking, 22, (3), 2026, p295 - 336, Journal Article, PUBLISHED
Elizabeth Harrington and Supriya Kapoor, Learning from Disaster: Regional Flooding and the Repricing of Corporate Credit, 2026, -, Miscellaneous, SUBMITTED
Supriya Kapoor and Urszula Szczerbowicz, Banks' Liquidity Mismatch and Quantitative Tightening, 2026, -, Miscellaneous, SUBMITTED
Supriya Kapoor, Proper Pricing, The Telgraph, October, 2024, Report, PUBLISHED  TARA - Full Text
Marie Finnegan, Supriya Kapoor, ECB unconventional monetary policy and SME access to finance, Small Business Economics, 2023, Journal Article, PUBLISHED  TARA - Full Text  URL
Supriya Kapoor and Marie Finnegan, Impact of unconventional ECB policy on lending to SMEs, 2023, -, Miscellaneous, PUBLISHED  URL
Supriya Kapoor, Are interest rates really going to keep rising sharply?, The Conversation, UK, March, 2023, Report, PUBLISHED  URL
Supriya Kapoor and Marianna Blix Grimaldi, Fed QE and lending behaviour: a heterogeneity analysis of asset purchases, Working Paper Series 428, Sveriges Riksbank (Central Bank of Sweden), 2023, Working Paper, PUBLISHED  TARA - Full Text  URL
  

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Supriya Kapoor, Michael Mahony, Anuj Pratap Singh, Monetary Policy Tightening and SME BankCredit Demand Substitution, TEP Working Papers, (No. 0125), 2025, Journal Article, PUBLISHED
Supriya Kapoor, QE: implications for bank risk-taking, profitability and systemic risk, European Central Bank Research Workshop 2023, Frankfurt, Germany, 16 October 2023, 2023, Conference Paper, PUBLISHED
Supriya Kapoor, QE: Implications for Bank Risk-Taking, Profitability, and Systemic Risk, 12th International Conference of the Financial Engineering and Banking Society, Chania, Greece, 1-4 June, 2023, 2023, Conference Paper, PUBLISHED
Supriya Kapoor, Corporate Investment Response to an Easing in Funding Cost, Seminar Series, California, United States, May 2023, 2023, Department of Economics, UC Santa Cruz, Invited Talk, PRESENTED
Supriya Kapoor, QE: Implications for Bank Risk-Taking, Profitability, and Systemic Risk, Economics Research Seminar, Ireland, 14 October 2022, 2022, Department of Economics, National University of Ireland, Maynooth, Invited Talk, PUBLISHED
Supriya Kapoor, QE: Implications for Bank Risk-Taking, Profitability, and Systemic Risk, DNB Research Seminars, The Netherlands, 14 June 2022, 2022, De Nederlandsche Bank, Invited Talk, PUBLISHED
Supriya Kapoor, Different strokes for different banks: a heterogeneity analysis of Fed QE on bank lending, 13th International Conference of the Financial Engineering and Banking Society, Paris, France, 20-22 June 2024, Conference Paper, PUBLISHED

  


Award Date
Programme Excellence Award for MSc in Financial Risk Management, Trinity Business School: Awarded in recognition of the MSc Financial Risk Management achieving the highest student satisfaction and programme quality across 15 postgraduate programmes within Trinity Business School. As Programme Director, I led the programme"s continued development through curriculum enhancement, stronger programme coherence, industry engagement and an increased focus on the overall student experience. This award is particularly meaningful as it provides tangible recognition of the impact of my programme-level academic leadership on both educational quality and student experience. June 2026
Teaching Excellence Award, Trinity Business School: My approach to teaching is shaped by the belief that technical sophistication in Finance should be accompanied by clarity, accessibility and an ability to connect theory with the decisions faced by financial institutions, firms and policymakers. Receiving the Teaching Excellence Award for a second time reinforced the value of continually revisiting how I teach, rather than treating established modules as finished products. This recognition is important to my academic development because teaching remains an integral part of how I translate my research expertise into meaningful learning experiences for students. June 2026
Research Excellence Award, Best Societal Impact: My research is motivated by questions that are academically rigorous but also consequential for financial institutions, firms and policymakers, particularly in the areas of monetary policy, banking, SME finance and financial stability. Receiving the Research Excellence Award for Best Societal Impact was therefore especially significant, as it recognised my efforts to ensure that research contributes beyond academic publication alone. It reinforces an important dimension of my academic identity: producing evidence that can inform policy debates and improve our understanding of how financial-sector decisions ultimately affect firms and the wider economy. 2025
Inspiring Educator Award, Trinity College Dublin: The Inspiring Educator Award was particularly meaningful because it recognised not only the delivery of teaching but the wider influence that an academic can have on students' confidence, intellectual curiosity and development. I see my role as an educator as extending beyond communicating technical knowledge: I aim to encourage students to question assumptions, connect Finance to contemporary economic and policy challenges, and develop the confidence to apply what they learn independently. Receiving recognition from the Provost at College level affirmed the importance I place on combining academic rigour with genuine investment in students' development. June 2025
Trinity Business School Teaching Excellence Award: This award represented an important recognition of my teaching contribution relatively early in my career at Trinity Business School. Since joining Trinity, I have been deliberate about bringing my research expertise in banking, monetary policy and empirical finance into the classroom while adapting content and delivery to students with different academic and professional backgrounds. The award encouraged me to continue treating teaching as an evolving academic practice; one that requires experimentation, reflection and continuous improvement rather than simply the transmission of established material. June 2024
Top 10 downloads of Small Business Economics Journal for 2023: The strong readership of my research in Small Business Economics provided an important indication that my work on monetary policy and SME access to finance was reaching an audience beyond the immediate academic community working on monetary transmission. This is particularly important to me because SMEs often sit at the point where macroeconomic policy, banking conditions and real economic activity intersect. The recognition strengthened my motivation to continue developing research that addresses significant macro-financial questions while retaining a clear connection to the experiences and financing constraints of firms. 2024
Visiting Researcher - Central Bank of Ireland: I was selected as a Visiting Researcher in the Monetary Policy Division of the Central Bank of Ireland, providing an important early recognition of my research expertise in banking and monetary policy. The appointment enabled me to work directly within a central-bank research environment, engaging with researchers on questions of immediate relevance to financial policymaking and deepening my understanding of how rigorous academic evidence can inform policy analysis. Importantly, this was not a standalone experience: it became the foundation for a sustained relationship with the Bank and strengthening my profile as a Finance researcher working at the academic-policy interface. March 2023
Visiting Scholar Programme - Sveriges Riksbank: Participation in the Sveriges Riksbank Visiting Scholar Programme provided an opportunity to situate my research within an international central-banking environment and to exchange ideas with economists working directly on monetary and financial stability questions. I sought this experience because I have consistently viewed engagement with policy institutions as complementary to, rather than separate from, my academic research. It broadened my international research network and helped shape my continuing focus on producing macro-financial research that combines empirical rigour with policy relevance. September 2022
Visiting Researcher - Banque de France: My research visit to the Banque de France formed part of my broader effort to build international research collaborations around monetary policy, banking and corporate finance. Working within a major Eurosystem institution provided access to complementary expertise and perspectives and helped develop research relationships that have continued beyond the period of the visit. This experience illustrates an approach I have deliberately pursued throughout my career: using institutional engagement not as a standalone credential, but as a platform for sustained collaboration, new research questions and internationally oriented scholarship. April 2022
Researcher Award, Technological University Dublin: Receiving the Researcher Award at Technological University Dublin was an important milestone in the development of my academic career. At that stage, I was actively building my independent research profile while balancing substantial teaching responsibilities, and I remained committed to developing a coherent research agenda in banking, monetary policy and financial intermediation. The recognition gave external validation to that effort and strengthened my determination to build a career in which high-quality research, teaching and institutional contribution develop alongside one another. 2021
Department of Economics Scholarship for PhD., University College Dublin: The Department of Economics scholarship supported a formative stage of my development as an independent researcher. My doctoral training provided the foundations for the empirical and analytical approach that continues to underpin my work in monetary economics, banking and macro-finance. Receiving competitive support during this period was both an acknowledgement of my doctoral research and an important investment in the academic trajectory that I subsequently pursued through research, teaching and engagement with policy institutions. 2015-2019
Gold Medalist, CBSE, India:Awarded a Gold Medal by the Central Board of Secondary Education (CBSE), India, in recognition of my academic performance in the Class XII examinations (equivalent to the Irish Leaving Certificate). This early distinction marked the beginning of a sustained commitment to academic excellence and intellectual curiosity that subsequently led me to Economics and, ultimately, an academic career in Finance. 2010
My research is driven by a fundamental question in Finance: when the financial environment changes, who absorbs the shock, who adapts, and who is left constrained? I study how banks decide whom to lend to, how firms finance investment when credit conditions change, and how these decisions accumulate into consequences for financial stability. At its heart, my research uncovers the financial mechanisms connecting major policy and structural changes to the financing decisions of banks and firms. I have built a coherent research programme across three interconnected areas: banking and financial stability, corporate financing and investment, and climate finance. My work shows that financial institutions respond differently to monetary-policy interventions depending on their balance sheets and risk profiles, shaping how credit reaches firms. I extend this perspective to corporate Finance, examining how businesses substitute between financing sources, how borrowing conditions shape investment, and whether lenders rely on firms" earnings capacity or collateral. Increasingly, I apply this lens to climate transition, investigating how climate risks affect lending, credit pricing and financial-system resilience. This agenda has generated publications in the Journal of Banking & Finance, Journal of Financial Stability, International Journal of Central Banking and Small Business Economics. These are AJG/ABS 3-ranked, internationally recognised journals and important high-quality outlets for my specialist research areas, providing strong external validation of both the quality and disciplinary relevance of my scholarship. What excites me most is research that does not end with publication. Collaborations with the Central Bank of Ireland, Banque de France and Sveriges Riksbank connect my scholarship with institutions confronting these questions in practice. My ambition is to build a distinctive Finance research agenda that follows risk through the financial system - from shocks, through banks, into firms, and ultimately into investment and financial stability.