Basma Majerbi

 Basma Majerbi
Associate Professor


PhD (Finance), McGill University; MSc (International Finance), HEC Montreal.

Office: BEC 244


  • International Asset Pricing
  • Financial Systems
  • Sustainable Finance
  • Impact Investing 
  • Climate Finance

Basma joined Gustavson School in 2004 after completing her PhD in finance at McGill University. Her research interests are include international asset pricing, investments and risk management. Her recent work explores the benefits of financial system diversity for sustainable development and financial stability, impact investing and climate-related financial risks. Her research has been published in leading business journals and benefited from major research grants from national granting agencies. She is a past recipient of multiple faculty awards including Awards of Excellence in Research, Innovation, Service, and the MBA Best Professor of the Year Award.

Basma is passionate about sustainable finance and impact investing and integrates these themes in her graduate teaching in core MBA and MGB courses. Since 2009, she has overseen the calculation of the annual carbon footprint of Gustavson faculty, staff and students. At UVic, she is currently leading the development of the Vancouver Island Impact Investing Hub (VI3Hub), an integrated, multi-disciplinary, solutions-driven platform that generates knowledge and builds capacity in impact investing and climate finance.

Basma is also a consultant with the International Monetary Fund where she contributes to training and capacity building programs for government officials in developing countries on topics related to financial development, financial inclusion and other financial sector issues. She’s a member of the steering committee of the Canadian Sustainable Finance Network (CSFN) and co-founder of the International Workshop on Financial System Architecture and Stability (IWFSAS), an annual conference that focuses on topics related to sustainable finance.

Journal Publications

Chung, H., Majerbi, B., & Rizeanu, S. (2015). Exchange Risk Premium and Firm Characteristics. Emerging Markets Review, Vol.22, 96-125.

Majerbi, B. & Rachdi, H. (2014). Systemic Banking Crises, Financial Liberalization and Governance. Multinational Finance Journal, 18 (3/4), 281-336.

Chaieb I., Errunza V. & Majerbi, B. (2013). Do Emerging Markets Provide Currency Diversification Benefits? International Journal of Banking, Accounting and Finance, 5, (1/2), 102-120.

Bouslimi L., Majerbi, B. (2012). The Role of Non-bank Financial Institutions and Credit Unions in Economic Growth. BRASSARD, M.-J. et E. MOLINA, dir.), The Amazing Power of Cooperatives, 665.

Carrieri, F., & Majerbi, B. (2006). The Pricing of Exchange Risk in Emerging Stock Markets. Journal of International Business Studies, 37, 372-391.

Carrieri, F., Errunza, V. & Majerbi, B. (2006). Does Emerging Markets Exchange Risk Affect Global Equity Prices. Journal of Financial and Quantitative Analysis, 41(3), 511-540.

Carrieri, F., Errunza, V. & Majerbi, B. (2006). Local Risk Factors in Emerging Markets: Are they Separately Priced? Journal of Empirical Finance, 13(4/5), 444-461.

Recognitions & Awards

2022 IAB Community Engagement Award, Gustavson School of Business
2020 Faculty Service Excellence Award, Gustavson School of Business
2014 MBA Professor of the Year Award , MBA Students Council
2013 Faculty Innovation Award, Gustavson School of Business
2012 MBA Professor of the Year Award , MBA Students Council
2009 UVic Scholar Award, University of Victoria (2009-2014)
2007 Faculty Research Excellence Award, Gustavson School of Business
2004 UVic Scholar Award, University of Victoria (2004-2009)


  • PICS Opportunity Partnership Program Grant ($180,000; 2021-2013), Co-Principal Investigator 

  • SSHRC Partnership Development Grant ($199,557.00; 2016–2019), Principal Investigator

  • SSHRC Connections Grant ($16,954.00; 2016-2017), Co-Investigator

  • CFI-Leaders Opportunity Fund, Research Grant ($60,000.00; 2013-2016), Principal Investigator

  • BC Knowledge Development Fund, Research Grant ($60,000.00; 2013-2016), Principal Investigator

  • SSHRC Insight Grant ($63,000.00; 2006–2009), Principal Investigator

Courses Taught

  • Managerial Finance (MBA)
  • International Financial Management (MGB)
  • Finance for Impact (MBA)

Training & Capacity Building Courses (with IMF)

  • Financial Development and Financial Inclusion
  • Monetary Policy
  • Financial Markets Analysis 
  • External Vulnerabilities and Policies 
  • Macroeconomic Management and Financial Sector Issues


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