Dr Indra Widiarto

Teaching Fellow


Indra is a Teaching Fellow in the Institute for Innovation and he is currently working on Indra is currently working on several research projects in microfinance, sustainable development goals and teaching excellence.

Prior to moving back into academia, Indra has a solid twelve years experience in emerging market investment banking industry in Southeast Asia, working with clients and partners in most global financial centres. More specifically, his expertise are in fixed income instruments structuring and placement (including Eurobonds, local bonds, medium term notes, and short term loan instruments), fixed income trading and portfolio management (focusing on distressed and high yield notes), and asset management (discretionary fund structuring). He also have solid experience in developing ethical funds in Indonesia for six years.

Indra's main research interests are in small and medium enterprise (SME) entrepreneurship, financial inclusion and microfinance, investment banking, private equity and venture capital, ethical investments, Sustainable Development Goals (SDGs), externalities and market failures, international business (global value chain and modern slavery) and quantitative performance measurement.

Academic background

Indra has a PhD from Aston Business School in a multidisciplinary research in Development Economics, Finance and Business Analytics. More specifically, his research was in constructing a performance measurement framework for microfinance institutions using a quantitative method of Data Envelopment Analysis. In his PhD, he was supervised by Professor Ali Emrouznejad, one of the prominent pioneers of Data Envelopment Analysis methodology. He has published two papers from his PhD thesis, with another two still in the pipeline.

Prior to this, his MBA in Aston Business School was focusing in International Financial Management and Marketing Strategy, whilst his BSc was in International Economics. He has been involved in teaching various modules since 2014 in the fields of Macroeconomics, Microeconomics, International Economics, Political Economy, Strategy, Corporate Finance, Business Analytics, Statistics, and Marketing in Aston Business School and Loughborough University London.

Prior to joining Loughborough University London full time, Indra had also successfully finished a post-doctoral research in Sustainable Development Goals at Sussex Sustainable Research Programme, University of Sussex, resulting in one published paper and one still in the pipeline.

Indra is currently the module leader for LLP206 Understanding Organisational Failure and LLP706 Corporate Risk Management at Loughborough University London.

Research expertise

  • SME entrepreneurship
  • SME financing
  • Financial inclusion & microfinance
  • Investment banking and asset management
  • Ethical investment
  • Private equity and venture capital
  • Sustainable Development Goals
  • Global value chains
  • Modern slavery
  • Quantitative performance measurement
  • Externalities and market failures

Current research and collaborations

Indra is currently working on several research in microfinance, sustainable development goals and teaching excellence.

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