Tsagay(PhD)
Head of School- Business Intelligence
Email id:
tsagay.gcbs@rub.edu.bt
Mathematics & Statistics/ Finance
Faculty
Biography
Dr Tsagay is a faculty member at Gedu College of Business Studies, Royal University of Bhutan, with over 15 years of experience in higher education. He holds a PhD in Business Administration with a specialisation in risk management, an MBA in Finance and a Bachelor’s degree in Mathematics. Since joining the College in 2011, he has taught undergraduate and postgraduate courses in finance, risk management, financial markets, financial modelling, investment analysis, statistics, mathematics and research methods.
His academic work focuses on integrating theory with practice through experiential learning, quantitative analysis and technology-enhanced education. He has contributed to curriculum development, programme design and quality assurance aligned with international professional standards such as CFA, FRM and CISI.
Dr Tsagay has participated in international projects, including the Erasmus+ Family Business Management project and an ongoing project on solar dryer technologies. He has also undertaken consultancy work for Bhutanese institutions including the Royal Monetary Authority, Druk Holding and Investments, Dungsam Cement Corporation Limited, Royal Insurance Corporation of Bhutan Limited and the Bhutan Foundation. His research interests include risk management, business analytics, sustainability, investment analysis and data-driven decision-making.
Education & Qualifications
Doctor of Philosophy (PhD) in Business Administration, Naresuan University, Thailand (2021)
Postgraduate Certificate and Postgraduate Diploma in Higher Education, Samtse College of Education, Royal University of Bhutan (2017)
MBA (Finance), Gedu College of Business Studies, Royal University of Bhutan (2014)
BA Mathematics, Hiram College, Ohio, USA (2010)
Selected Publications
Tsagay, T., Rattanawiboonsom, V., & Yawised, K. (2024). Enterprise risk management and firm performance: Perspectives and evidence from the SMEs in Bhutan. Environment and Social Psychology, 9(12). https://doi.org/10.59429/esp.v9i12.3035
Tsagay, T., Rattanawiboonsom, V., & Yawised, K. (2024). Determining the influence of personal entrepreneurial competencies on enterprise risk management in the Bhutanese SMEs. Environment and Social Psychology, 9(6). https://doi.org/10.54517/esp.v9i6.2369
Tsagay, T. (2022). The current state of financial inclusion in Bhutan and the way forward. Royal Monetary Authority of Bhutan.
Tsagay, T., & Darjee, P. Investment Portfolio Optimization of the NPPF. LAP LAMBERT Academic Publishing.
Tsagay (2014, June). Playing with investments in nascent financial markets. Presentation at Confluence – Master Minds Meet, an International Conference on Finance, Sustainability, Governance and Development, Gaeddu College of Business Studies, Gedu, Bhutan.
