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Professor Radu S. Tunaru

Professor of Finance and Risk Management

Head of ICMA Centre for Finance
Head of the Finance and Accounting Department, Henley Business School, University of Reading

Radu Tunaru

Specialisms

  • Structured Finance, 
  • Model Risk, 
  • Real-Estate Finance, 
  • Risk Management, 
  • Empirical Finance

Radu Tunaru is professor in Finance and Risk Management at the ICMA Centre, Henley Business School.

He previously held the same title at the University of Sussex and at the University of Kent and he also worked at the Bayes Business School (formerly Cass), London. He holds a PhD in Statistical Modelling from the Middlesex University and a PhD in Probability and Statistics from the Centre of Statistics of the Romanian Academy. Radu is Associate Editor for the Journal of Portfolio Management and the Journal of Derivatives. He is the current head of Finance and Accounting department and the ICMA Centre at Henley Business School.

Radu has taught undergraduates, postgraduates, doctoral and executives, in five different countries. He has published in the Review of Economics and Statistics, Journal of Corporate Finance, European Journal of Operations Research, Journal of Banking and Finance, Journal of the Economic Perspectives and Journal of Financial Economics, among others. His latest research monograph Equity Release Finance has been published in 2025 by Chapman & Hall.

He has various research interests, and he was involved with over two million pounds of competitive grant funding and research consultancy. Radu also worked in the investment banking for Bank of Montreal and Merrill Lynch in London in the structured finance and mortgage credit risk. His current research interests evolve around equity release financial engineering, asset pricing, risk measures and model risk, graphical models in finance.

Reference: Quaye, E., Tunaru, R. and Tunaru, D. (2025) Testing green finance portfolio performance. Journal of Operational Research Society. ISSN 1476-9360 doi: 10.1080/01605682.2025.2465895
Henley faculty authors:
Professor Radu S. Tunaru
Reference: Fabozzi, F. J., Shiller, R. J. and Tunaru, R. S. (2020) A 30-year perspective on property derivatives: what can be done to tame property price risk? Journal of Economic Perspectives, 34 (4). pp. 121-145. ISSN 1944-7965 doi: 10.1257/jep.34.4.121
Henley faculty authors:
Professor Radu S. Tunaru
Reference: Barunik, J., Bevilacqua, M. and Tunaru, R. (2022) Asymmetric network connectedness of fears. Review of Economics and Statistics, 104 (6). pp. 1304-1316. ISSN 1530-9142 doi: 10.1162/rest_a_01003
Henley faculty authors:
Professor Radu S. Tunaru
Reference: Bevilacqua, M., Tunaru, R. and Vioto, D. (2023) Options-based systemic risk, financial distress, and macroeconomic downturns. Journal of Financial Markets, 65. 100834. ISSN 1386-4181 doi: 10.1016/j.finmar.2023.100834
Henley faculty authors:
Professor Radu S. Tunaru
Reference: Azevedo, A., Colak, G., El Kalak, I. and Tunaru, R. (2024) The timing of voluntary delisting. Journal of Financial Economics, 155. 103832. ISSN 1879-2774 doi: https://doi.org/10.1016/j.jfineco.2024.103832
Henley faculty authors:
Professor Radu S. Tunaru
Reference: Lazar, E. , Qi, S. and Tunaru, R. (2024) Measures of model risk for continuous-time finance models. Journal of Financial Econometrics. ISSN 1479-8417 doi: https://doi.org/10.1093/jjfinec/nbae001
Henley faculty authors:
Professor Emese Lazar - Professor Radu S. Tunaru