Handbook of Global Financial Markets

About the Editors

Sabri Boubaker is Professor of Finance at EM Normandie (France) and Research Fellow at the Institut de Recherche en Gestion (University of Paris Est). He holds a Ph.D. in Finance from University of Paris Est (2006) and a HDR degree (Habilitation for Supervising Doctoral Research) in 2010 from the same university. He has recently published several academic papers in international refereed journals including Journal of Corporate Finance, Journal of Banking and Finance, Journal of International Money and Finance, Financial Management, International Review of Financial Analysis, European Financial Management Journal, Review of Quantitative Accounting and Finance, and Journal of International Financial Markets, and Institutions and Money. Dr. Boubaker has also edited several books on corporate finance and financial markets and serves as subject and associate editors on editorial boards of many peer-reviewed finance journals. He is the co-founder (with Duc Khuong Nguyen) of the Paris Financial Management Conference (2013-) and Vietnam Symposium in Banking and Finance (2016-).

Duc Khuong Nguyen is Professor of Finance and Deputy Director for Research at IPAG Business School (France). He holds a PhD in Finance from the University of Grenoble Alpes (France) and a HDR (Habilitation for Supervising Scientific Research) degree in Management Science from University of Cergy-Pontoise (France), and completed an executive education program in "Leadership in Development" at Harvard Kennedy School (United States). He is also a Non-Resident Research Fellow at the School of Public and Environmental Affairs, Indiana University. His research articles are published in various refereed journals such as European Journal of Operational Research, Journal of Banking and Finance, Journal of Economic Dynamics and Control, Journal of Empirical Finance, Journal of International Money and Finance, Journal of Macroeconomics, Macroeconomic Dynamics, and Review of International Economics. Dr. Nguyen has edited many books on corporate finance and financial markets issues and serves as subject and associate editors of several finance journals. He is the co-founder (with Sabri Boubaker) of the Paris Financial Management Conference (2013-) and Vietnam Symposium in Banking and Finance (2016-).

About the Authors

Marcelle Chauvet is a Professor of Economics at University of California, Riverside and Director of the International Association for Applied Econometrics. She is also associate editor of the journals Macroeconomic Dynamics and Journal of Applied Econometrics. Before joining UC Riverside, Professor Chauvet received her Ph.D. from the University of Pennsylvania. Her research interests are in macroeconomics and finance, including application of time series analysis to modeling and predicting business cycles, forecasting macro and financial cycles, and the interactions between the economy and financial markets. Her research has been published in several reputable refereed journals.

Bo-Yu Chen is a Ph.D. candidate at the University of California, Riverside. His research interests include international macroeconomics, financial markets, and empirical macroeconomics. His recent research focuses on the interaction and dynamics of international financial markets and the business cycle.

Thomas Flavin is a Senior Lecturer in Financial Economics at Maynooth University. Thomas holds a Ph.D. in Finance from the University of York (UK). His main research interests are in the financial market linkages and shock transmission, financial contagion, and asset allocation. He has been a visiting scholar at the Federal Reserve Bank of Atlanta, University of Cambridge, and University of York. He has published his research in leading peer-reviewed journals such as Journal of International Money and Finance, Journal of Forecasting, Emerging Market Review, International Review of Finance, Economics Letters and Journal of Financial Markets, Institutions and Money, amongst others.

K. Thomas Liaw is a Professor of Finance in the Economics and Finance Department at St. John's University, New York. He was chairman of the department. Professor Liaw is Editor-in-Chief of International Journal of Financial Research. He has published articles in Treasury coupon rolls, repurchase agreements, emerging markets smart beta ETFs, and market risks. His book publications include investment banking, investment banking in China, and capital markets. His principal areas of teaching and research are capital markets, investment management, and investment banking. Professor Liaw was president of Chinese American Academic and Professional Society and was director at State Bank of Long Island. In addition, he has received corporate assignments in asset management and capital markets. Professor Liaw has a Ph.D. from Northwestern University.

Mohamed Zaki is a Research Associate at Cambridge Service Alliance, University of Cambridge. His research lies in the field of Information Governance, Business Intelligence, and Big Data Analytics. His Ph.D. investigated the impact of employing different business intelligence techniques to detect frauds in the stock exchange markets. The research proposed an ontological approach for financial fraud. The proposed ontology brings together existing domain knowledge from previous efforts together with new knowledge derived from the analysis of unstructured sources based on existing fraud cases reported by Security Exchange Commission (SEC). Currently, he is leading the performance and Information analytics research theme at the Cambridge Service Alliance. The research investigates "How big data could play a role in improving and optimising services within complex service network organization": In particular, understand how data could play role in creating new business opportunities either in improving existing services or creating new business model within complex service organisations.

Babis Theodoulidis is an Associate Professor in Information Management at Alliance Manchester Business School, University of Manchester. His research has been published in both engineering and social science journals such as Journal of Information Systems, Knowledge Management Research & Practice, Expert Systems with Applications, International Journal of Information Management, International Journal of Data Warehousing and Mining, International Journal Services Technology and Management, and Journal of Visual Languages and Computing. His most recent research interests focus on the design of service-based information systems, the temporal and spatial aspects of information, the analysis of information using data and text mining techniques, the visualization of information, and service information management issues within organizations.

David Díaz is an Assistant Professor at the Facultad de Economía y Negocios of Universidad de Chile. As an academic staff, he performs educational activities in undergraduate, postgraduate, MBA, and other executive education programmes. Díaz is also a full-time researcher, counting with a trajectory of academic publications related to the use of data mining techniques and information systems in the business context. His research has been published in prestigious journal and professional magazines in Latin America, the United States, and Europe. His main line of research relates to the modelling of financial data and the environmental profile of companies, from a Business Intelligence and Service Analytics perspectives. He is a strong advocate of innovation through the use of Information Technologies as a main tool for competitive advantage and entrepreneurship competitive edge.

Besma Hkiri is Assistant Professor in Accounting and Finance at College of Business, University of Jeddah, Saudi Arabia. She obtained her Ph.D. in Finance from the Faculty of Economic Sciences and Management of Tunis, University Tunis El Manar. Besma Hkiri is also member of the International Finance Group-Tunisia (IFGT) Research (University Tunis El Manar). Dr. Besma HKIRI has published many papers in peer-reviewed journals such as Economic Modeling, Pacific-Basin Finance Journal, and Applied Economics. Her research interests include risk management, financial markets comovements, financial economics, comovement analysis, dynamic volatility analysis, and energy economics. Dr. Besma Hkiri also participated in many international conferences.

Azza Bejaoui is Assistant Professor in Accounting and Finance at Higher Institute of Management of Tunis, Tunis University. She received her Ph.D. in Finance in 2013 and Master in Finance in 2008 from Higher Institute of Management of Tunis, Tunisia. Her research interest includes risk management, financial markets, behavioral finance, portfolio management, and econometrics. She has published several papers in peer-referred journals. She has published two books (in French): Adaptive Markets Hypothesis: Reconciliation between Efficient Markets and Behavioral Finance & Market Risk — Attempt of Operationalization in the Tunisian Context. She also contributed with a book chapter entitled "Integrated Model of Perceived Risk and Risk-Reducing Strategies in the Tunisian Stock Market" to Ethical and Social Perspectives on Global Business in Emerging Markets, IGI Global, E-Editorial Discovery.

Sondes Ben Salem is Assistant in Accounting and Finance at the Faculty of Economics and Management Sciences of Sousse, Sousse University, Tunisia. She obtained her Ph.D. Thesis from the Higher Institute of Management of Tunis, Tunis University, Tunisia. Her research interests include markets microstructure and financial crises impact on stock exchange markets.

Igor Alexandre Clemente de Morais holds a Ph.D. in Economics from UFRGS. He served for 12 years as an economist at FIERGS. He is currently a partner and chief economist at Vokin Investments, as well as at BP Consultoria and is Professor in Economics at Unisinos. Also acts as economic adviser to the SINBORSUL (Union of Rubber Artifact Industries in Rio Grande do Sul) and the SIMECAN (Union of Metal Industries Mechanical and Electro Electronic Canoas and Nova Santa Rita). Also, he is director of studies and economic research ILADES (Latin American Institute for Sustainable Economic Development). He assumed the Chair of the Economics and Statistics Foundation — FEE in February 2015.

Guilherme Ribeiro de Macêdo holds a Ph.D. in Accounting and Finance at the UFRGS Business School since 2012. He graduated in Electrical Engineering from IME (Instituto Militar de Engenharia) in 2005 and worked for two years at BNDES in Investment Analysis area during 2003 until 2005. He is a researcher/risk consultant with several articles published in this area and is a professor at UFRGS.

Marcia Regina Godoy holds a Ph.D. in Economics at UFRGS since 2008. She is senior scientific advisor in pharmacoeconomics and senior researcher at Brazilian Institute of Health Technology Assessment. From 2011 until 2016, she was postdoctoral fellow at Universidade do Vale do Rio dos Sinos. She has 15 years of experience in health economics, pharmacoeconomics, market access, pricing strategies to drugs, and econometric methods. Her research interests are in following areas: health economics, econometric methods, pharmacoeconomics, economic of crime, public finance, healthcare finance, and international economics.

Leonardo Berteli Piveta graduated in Mechanical Engineering from Lutheran University of Brazil (ULBRA) and holds a Master in Economics from University of the Sinos Valley (Unisinos). He is a lecturer at University Center of the Serra Gaúcha, where he teaches graduate courses of Engineering and Architecture. He has experience in the field of Mechanical Engineering in Machines Projects and in Economics in International Economics mainly with econometrics models as deterministic and stochastic models. Also, he is a lecturer at the Catholic University of Pelotas (UCPEL) where he teaches Financial Mathematic for the MBA in Controlling and Finance.

Walid Ben Omrane is an Associate Professor of Finance and holds Ph.D. and Master of Financial Economics from University of Louvain (Belgium). His research interests are in the area of financial market microstructure, international finance, and financial econometrics. Dr. Ben Omrane's research has been published in top-tier finance and statistics journals such as the Journal of Banking and Finance, the Journal of International Money and Finance, Journal of International Financial Markets, Institutions and Money, and Computational Statistics and Data Analysis. His research has been supported by the Social Sciences and Humanities Research Council of Canada (SSHRC) through the standard research grant program. He is an ad hoc reviewer for several Finance and Economics journals. He received several Research distinctions and Awards, including two external prestigious research grants from SSHRC and IFM2, and 4 Best Paper Awards, such as the Best Paper Award in Investments, Financial Markets, and Valuation at the Global Finance Association conference held in Dubai 2014.

Robert Welch is a Professor of Finance, has a Ph.D. from SUNY at Buffalo, and M. A. (statistics) and M.B.A. from the University of Western Ontario. He has published in the Journal of Futures Markets, Journal of Derivatives, International Review of Economics and Finance, Review of Quantitative Finance and Accounting, and Advances in Futures and Options Research concerning constant variance option pricing and fractionally cointegrated time series. Some of this work was supported by the Social Sciences and Humanities Research Council of Canada (SSHRC). He has also published in the Canadian Tax Journal (RRSPs and RESPs), Applied Economic Letters (cost of capital), and Research in International Business and Finance (tick test). He is currently involved with foreign exchange response to macroeconomic news announcements. His hobbies include windsurfing and guitar. He has been a department chair for several terms as well as served on the University pension, and promotion and tenure committees.

Xinyao Zhou is currently a Ph.D. student in Administration (Finance) at Schulich School of Business in York University. He holds an M.Sc. in Management (Finance) from the Goodman School of Business at Brock University and BBA from Harbin Institute of Technology. Xinyao's research interest includes financial econometrics, corporate finance, and international finance. Prior to joining academia, Xinyao Zhou worked as a Management Trainee at Unilever (China).

Dave Allen is a Honorary Chair Professor in the Department of Finance, Asia University, Taiwan, an Honorary Professor in the School of Mathematics and Statistics at the University of Sydney, and an Honorary Professor at Edith Cowan University. He was previously located in the Faculty of Business at Edith Cowan University where he was Foundation Professor of Finance from 1996 to 2013, and prior to this held the Challenge Bank Professorship of Finance at Curtin University of Technology. He has an Honours degree in economics from St. Andrews University in Scotland, an M.Phil in the history of economic thought completed at Leicester University in England and a Ph.D in Finance from the University of Western Australia. He has published several books, and monographs; 42 chapters in books in business economics, finance, and econometrics plus over 100 refereed journal publications. These have covered a wide range of topics including corporate financial policy decisions, asset pricing, business economics, funds management and performance bench-marking, volatility modeling and hedging, and market microstructure and liquidity. His recent work has been mainly focused on risk modeling.

Petko S. Kalev is a Professor in Finance at La Trobe Business School, La Trobe University, Melbourne, Victoria, and was previously the Director of the Centre for Applied Financial Studies (CAFS) in the School of Commerce, at the University of South Australia Business School. Professor Kalev holds a Ph.D. in Financial Econometrics from Monash University, a Master of Science in Statistics from the University of Melbourne and, a Bachelor of Science Degree in Mathematics from the University of Plovdiv. Prior to joining the University of South Australia in February 2010, Professor Kalev worked at the Department of Accounting and Finance, Monash University (1999–2010). Professor Kalev has several research interests ranging from Asset Pricing, Capital Markets and Market Microstructure, Market Efficiency, Corporate Finance, Assets Management, and Quantitative Finance Behavioural Finance. Professor Kalev is most known and recognised for his empirical research contributions to the field of Market Microstructure: Asymmetric Information and Informed Trading, Market Quality, Price Discovery, and Volatility Modelling.

Shelton Peiris did his Ph.D. at Monash University, Melbourne, Victoria. After graduation from Monash in 1987, he tutored at the Department of Econometrics (Monash University), and lectured at the University of Melbourne before joining what was then the Statistics Department at the University of Sydney in 1990. He has been there ever since except for various visiting appointments. Shelton was the chair of the international program committee for international conference in Colombo, December 2011. He was a council member and treasurer of the SSAI (Statistical Society of Australia Inc.) NSW branch (2003–2006). He has organised a number of workshops and invited paper sessions in Australia and overseas. He is an elected member of ISI. He has been the Director of Statistics Teaching Program (2005–2006) and from 2011. He is a SubDean (Student Affairs) of the Faculty of Science. His research interests include statistical analysis of stationary and non-stationary time series data, theory and applications of estimating functions, financial time series modelling, saddle point, and Edgeworth type approximations related to time series problems. Currently, his interests are in developing methods in Financial Econometrics and for modelling, financial time series data, ACD and Log-ACD modelling and volatility modelling.

Abhay Kumar Singh is a Senior Lecturer in Finance and Director of the Finance Decision Lab at the Department of Applied Finance in the Faculty of Business and Economics, Macquarie University, Sydney. He obtained his Ph.D. in 2011 from Edith Cowan University in Western Australia with a thesis evaluating extreme Financial Market Risk. He was the co-recipient of the prestigious Edith Cowan University Research Medal for his Ph.D. research work. His research interests include financial market risk modelling using stock market data and multivariate dependence using Vine Copula. Recently, he has also developed an interest in the field of big data analytics, particularly in financial network modelling, text mining, and related sentiment analysis.

Somar Almohamad obtained his Ph.D. from Western Sydney University, Australia. His doctoral thesis research focuses on financial integration in the MENA region.

Anil V. Mishra is an Associate Professor in Finance at the Western Sydney University, Australia. His research primarily focuses on home bias, asset pricing and behavioural finance. He has published in top tier finance journals including Journal of Empirical Finance, Journal of International Money and Finance, Pacific Basin Finance Journal, Economic Modelling, International Review of Economics and Finance, and Emerging Markets Review, among others. He is a recipient of the Early Career Researcher Award from the Western Sydney University for his specialist contribution in the research area of cross border investment.

Mazin A. M. AlJanabi is Full Professor of Finance at EGADE Business School, Tecnológico de Monterrey, Mexico City, Mexico. Professor Al Janabi holds a Ph.D. degree from the University of London, UK, and has over 30 years of real-world experience in diverse academic institutions and financial markets in many different roles. He has worked for top international financial groups (e.g., ING-Barings and BBVA-Bancomer) where he held several senior management positions. Professor Al Janabi has strong interest for research, publications, and developments within emerging economies. He has written extensively on contemporary topics in trading, market and counterparty risk management besides modern portfolio management. Professor Al Janabi has published in top-tier journals such as: International Review of Financial Analysis, European Journal of Operational Research, Annals of Operations Research, Applied Economics, Economic Modelling, Review of Financial Economics, Service Industries Journal, Emerging Markets Finance and Trade, among others.

Julien Chevallier is a Full Professor of Economics (Professeur des Universités) and Director of the MSc Money, Banking, Finance & Insurance. He undertakes research and lectures on empirical finance, applied time-series econometrics, and commodity markets. Dr. Chevallier is the author of Econometric Analysis of Carbon Markets (Springer), as well as the co-author of The Economics of Commodity Markets (Wiley Finance). He has published articles in leading refereed journals, including the Journal of Empirical Finance; International Review of Financial Analysis; Quantitative Finance; Journal of Forecasting; Journal of International Financial Markets, Institutions & Money, and Annals of Operations Research. Furthermore, Dr. Chevallier currently serves as Associate Editor at Energy Economics among other appointments. His latest book (co-authored) is entitled Pricing and Forecasting Carbon Markets (Springer, 2017).

Guldem Gokcek has been an Associate Professor at New York University, Honorary Lecturer/faculty member at the Management School, University of Liverpool/Laureate Online Education, and teaches regularly in the MBA and MSc, Programs. She has received her doctorate degree in the areas of Financial Economics and Econometrics from Pace University, New York, completed studies in Ph.D. in Economics (A.B.D) at the City University of New York, and in MA in Economics at Bosphorus University after graduating with BA in Economics from Marmara University, Istanbul. Prof. Gokcek taught at Columbia University, Pace University, and Fashion Institute of Technology, lectured and served as a consultant/advisor at companies including U.S Trust Company, Backer Spielvogel Bates, Inc., Creamer Dickson Basford, Inc., and Young and Rubicam brands in New York City, contributed to the research on education at New York City Board of Education, engaged in specialized and co nfidential research and statistical analysis related to the judicial system at the Office of Court Research, New York State Office of Court Administration, and served as a Senior Correspondent for the publication "Middle East Business and Banking," for three years. She was listed in the 'International Who's Who of professionals.' Guldem's research interests are in the areas of Financial Economics, Entrepreneurial Finance, Econometrics, Corporate Finance, Law, and banking. She has authored numerous articles, reviews, and book chapters. She is a member of many professional organizations, including the American Economic Association, Financial Management Association, and Society for Institutional & Organizational Economics.

Peter Julian Cayton is an Assistant Professor of Statistics at the University of Philippines Diliman. His research interests are in financial econometrics, time series analysis, and extreme value statistics. He has published in journals of various disciplines such as The Philippine Statistician (Scopus indexed), The Philippine Review of Economics (ABDC: C), and Water International (ISI indexed). He has a Bachelor of Science (magnacum laude, 2009) and a Master of Science (2011) degree in Statistics from the University of the Philippines Diliman. He completed his Ph.D. in Statistics at the Australian National University in 2018.

Kin-Yip Ho joined the Australian National University (ANU) in 2010 as an academic specializing in topics in actuarial studies, economics, econometrics, finance, and statistics. His current research and teaching interests are the actuarial applications of financial and economic models, financial econometrics, international finance, and time-series analysis. He has published his research findings in various journals, such as Annals of Actuarial Science (ABDC: A), China Economic Review (ABDC: A), Economic Modelling (ABDC: A), International Review of Economics and Finance (ABDC: A), Journal of Applied Econometrics (ABDC: A*), Journal of Banking and Finance (ABDC: A*), Journal of Empirical Finance (ABDC: A), Scottish Journal of Political Economy (ABDC: A), and World Economy (ABDC: A). He completed his Ph.D. program in Economics at Cornell University and undergraduate degree at the National University of Singapore (NUS). As an amateur pianist, he has an Associate Diploma in Piano Performance fromLondon College of Music (University of West London).

Muhammad Shahbaz is Chair Professor at Energy and Sustainable Development (ESD), Montpellier Business School (France). He received his Ph.D. in Economics from National College of Business Administration and Economics, Lahore, Pakistan. His research focuses on development economics, energy economics, environmental and tourism economics, etc. He has widely published in peer-reviewed international journals. He has published more than 203 research papers so far in the national and international referred publications, having a cumulative impact factor of 250 so far. He is among world's top 31 authors in Economics category as compiled by IDEAS, and among Pakistan's top 1 authors in Economics category in Pakistan as compiled by IDEAS.

Syed Jawad Hussain Shahzad is Post Doc Fellow at Energy and Sustainable Development (ESD) of the Montpellier Business School France. After graduating with a degree in Finance at the COMSATS Institute of Information Technology Islamabad, Pakistan, Jawad received his doctoral degree in Finance from University of Malaysia Terengganu, Malaysia. Jawads research crosses several disciplines: in the business and finance area, he has published in a number of journals used by the Financial Times for ranking business schools (e.g., Tourism Management, Journal of Banking and Finance, International Review of Economics and Finance, Economic Modelling). His core area of research is applied financial econometric with application of probability theory for financial risk management, In addition, he has also published work in leading journals in applied mathematics (e.g., Physica A), in resources economics (Renewable and Sustainable Energy Reviews, Resources Policy, Economic Change and Restructuring), and in policy journals (e.g., Energy Policy), in social economics (e.g., Social Indicators Research, Quality and Quantity).

Sandrine Kablan is Associate Professor at the University of East Paris Créteil, France, and a researcher at the research laboratory ERUDITE. She received her Msc and Ph.D. in Economics at, respectively, the University of Cergy Pontoise and University of Nanterre, in France. She specialized in finance and development economics. She wrote several articles in well-known journals such as Energy Economics, Emerging Market Review, African Development Review, Savings and Development, Applied Economics and Economics Bulletin. The topics on which she works are the following: commodities and financial markets, efficiency of financial institutions, microfinance, banks in developing and emerging economies, natural resources management, and climate finance.

Shawkat Hammoudeh is a Palestinian American citizen with a Ph.D. in Economics from University of Kansas, USA. He also had done post-doctorate courses in Finance at Drexel University, USA, during 1989–1990. After graduation from the University of Kansas, he joined Kuwait Institute for Scientific Research as an Associate Research Scientist in 1981. He then worked for OAPEC in Kuwait from 1983 to 1989 and was part of the Arab team that worked on the OAPEC/ENI Interdependence Model in Rome, Italy during the period 1983–1985. He also served on the Steering Committee of the Euro Arab Dialogue Project which was sponsored by OAPEC and the European Union in 1986–1987, and the Steering Committee for the project on exploring the future of the Arab Home Land executed by the Arab Unity Studies Center in Cairo, Egypt. During 1988–1989, he worked as a consultant with the World Bank working on Jordan's Melody Energy-Economy in Amman, Jordan. Since then he has been a faculty member at Drexel University, where he was promoted from Associate Professor to Professor in 2004. His fields of specialization include OPEC oil pricing strategies, commodity markets, exchange rates, and business cycles in the GCC bloc; stock markets in the GCC region and the MENA area; and financial risk management for Islamic and conventional stock and sukuk markets. He serves as editor and special editor of refereed journal and edited books, and a referee for many journals. He is an associate editor of Energy Economics and Global Review of Economics and Business Research and Brazilian Journal of Business Administration.
Dr. Hammoudeh is a prolific researcher who has produced more than 100 articles in quality, refereed journals. SSNR ranks him among the top 10% economics researchers in its program. His RG score is above 34. Dr. Hammoudeh has cooperated on joint projects with researchers from many countries arnound the world. He is also active in participating, organizing and chairing secessions for the Middle East Economics Association (MEEA) Chapter of ASSA and the Western Economics Association International (WEAI). He is regularly interviewed by newspapers and radio and TV stations on current issues related to oil and commodities.

Conall O'Sullivan is an Assistant Professor of Finance at the Michael Smurfit Graduate Business School, University College Dublin. His primary research interests are in numerical methods for derivatives pricing, option implied information from derivatives markets, and fixed income securities markets. His published works have appeared in journals such as Quantitative Finance, the International Journal of Theoretical and Applied Finance, and the Journal of Computational Finance. He has presented papers at international conferences including the European Finance Association, Bachelier World Congress and Computational Financial Econometrics. He is the director of the M.Sc. in Quantitative Finance at the Michael Smurfit Graduate Business School, University College Dublin (UCD). He was a recipient of a UCD College of Business Teaching & Learning Award for Teaching Excellence in 2017.

Vassilios G. Papavassiliou is an Assistant Professor of Finance at the Michael Smurfit Graduate Business School, University College Dublin. He is also a research fellow at the Rimini Centre for Economic Analysis (RCEA). His research interests span the areas of market microstructure, high-frequency finance, liquidity, financial contagion, banking and risk management and energy economics. His work has been published in international refereed journals, such as Energy Economics, Journal of International Financial Markets, Institutions and Money, European Journal of Finance, and Economics Letters. He is currently the Banking and Finance Subject Area Head of Teaching and Learning at Michael Smurfit Graduate Business School. He brings multi-year experience in investment banking and has held senior management positions in multinational banking institutions, including Citibank. Dr. Papavassiliou earned his Ph.D. in Finance from the Queen's University of Belfast, United Kingdom.

Tobias Basse is currently working as economist and equity strategist for Norddeutsche Landesbank Girozentrale (NORD/LB) in Hannover. He received his doctoral degree (Dr. rer. pol.) in Economics from University of Paderborn, Department of Economics, and joined Norddeutsche Landesbank in 2001. In addition to that, Dr. Basse teaches Corporate Finance at Touro College in Berlin and Financial Risk Management at the Leibniz University Hannover. He published in peer-reviewed journals (e.g., Journal of Banking and Finance, Economics Letters, and European Journal of Political Economy). His main fields of research are issues in the fields of corporate finance and international economics.

Thomas S. Bürkle is Chief Executive Officer (CEO) of Norddeutsche Landesbank Girozentrale (NORD/LB) in Hannover since January 2017. Until December 2016, Mr. Bürkle was NORD/LB's Chief Risk Officer (CRO). Before joining the board of NORD/LB, he was inter alia CEO of Deutsche Hypothekenbank AG in Hannover as well as DnB NORD A.S. in Copenhagen. He completed his graduate studies in economics at the Free University of Berlin before starting his professional career as economist at Berliner Bank. Mr. Bürkle is honorary consul of the United Kingdom. He has published several chapters in books and papers in journals with a strong focus on applied financial risk management.

Frederik Kunze is working as economist for Norddeutsche Landesbank (NORD/LB) in Hannover since 2011. He joined NORD/LB in 2009 as Senior Credit Portfolio Manager. Before that, he worked as risk manager at DZ BANK in Frankfurt am Main. His main fields of research are the evaluation of financial market forecasts, the analysis of commodity markets, and issues on the Chinese economy. Frederik Kunze published various articles and book chapters focusing on crisis events and is working as lecturer for risk management, corporate finance, portfolio theory, and economics.

Christoph Wegener is an Assistant Professor at IPAG Business School in Paris and a Senior Research Associate at the Center for Risk and Insurance in Hannover. He received his doctoral degree (Dr. rer. pol.) in Economics (summa cum laude) from Leibniz University Hannover. Christoph Wegener published in peer-reviewed journals (e.g., Journal of Banking and Finance, Journal of Forecasting, and Quantitative Finance). His main research interests are rooted in the field of financial econometrics with applications to energy, housing, and bond markets.

Franck Martin is a full professor of economics at the University of Rennes 1, meanwhile a permanent researcher at CREM UMR CNRS 6211. He is in charge with Professor Jean-Laurent Viviani of the Rennes 1 Foundation Chair "New Challenges for the Bank". He has been the director of the MSc Economics and Financial Engineering at University of Rennes 1 for nearly 15 years. He was also a quantitative financial researcher at Caisse des Dépôts et Consignations and INDOCAM (now AMUNDI asset Management). He is the author of several articles in national and international journals and co-author of the manual Econométrie Appliquée.

Jiangxingyun Zhang has obtained a Ph.D. at the Faculty of Economic Sciences of University of Rennes 1, under the supervision of Prof. Franck Martin. He has been a temporary researcher at CREM UMR CNRS 6211. He received his bachelor degree from Shandong University. His research interests include Financial Markets, Financial Econometrics, and Macroeconomics.

Angela Armakolla is a mathematician specializing in CCP risk management and CCP regulation. She is a Ph.D. candidate at the Université Paris 1 Panthéon-Sorbonne and research assistant at the Laboratory of Excellence on Financial Regulation (Labex ReFi). Prior to her Ph.D., Angela worked as a risk management analyst on projects for major banks and CCPs.

Raphael Douady is a French mathematician and economist specializing in financial mathematics and chaos theory. He holds the Robert Frey endowed chair of quantitative finance at Stony Brook University (SUNY) and is also the academic director of the Laboratory of Excellence on Financial Regulation (Université Paris 1 Panthéon-Sorbonne and ESCP-Europe) and affiliated with the French National Centre for Scientific Research (CNRS). He co-founded fin-tech firms Riskdata (1999) and Datacore (2015). He has more than twenty years of experience in the banking industry (risk management, option models, trading strategies) and 35 years of research in pure and applied mathematics.

Jean-Paul Laurent is a Professor of Finance at Université Paris 1 Panthéon — Sorbonne and member of the Laboratory of Excellence on Financial Regulation (Labex ReFi). Prior to this, he has been within ISFA actuarial school at University of Lyon and research professor at CREST, a leading academic institution in Paris. He has been a long time scientific consultant to BNP Paribas research teams. Jean-Paul has extensively published in academic and professional journals. He is known for contributions in the modelling and management of financial risks. He currently investigates the changes induced in this field by new banking and market regulations.

Imad Moosa is currently a Professor of Finance at RMIT, Melbourne. Before taking on the present position, he was a Professor of Finance at Monash University and La Trobe University, and a Lecturer in Economics and Finance at the University of Sheffield. Prior to becoming an academic in 1991, he was a professional economist and a financial journalist for over 10 years, and he also worked as an economist at the Financial Institutions Division of the Bureau of Statistics, the International Monetary Fund (Washington DC). Professor Moosa has published 21 books and over 200 papers in scholarly journals. His most recent books are "Econometrics as a Con Art" and "Publish or Perish: Perceived Benefits versus Unintended Consequences" (Macmillan). He has served in a number of advisory positions, including as an economic advisor to the U.S. Treasury.

Sumru Altug received her B.A. in Economics from the University of Pittsburgh in 1978 and her Ph.D. in Economics from Carnegie-Mellon University in 1985. She has held permanent and visiting positions at the University of Minnesota, University of Wisconsin, Duke University, and Virgina Tech in the US, and at the University of Durham and the University of York in the UK. She is currently Professor and Chair at the Department of Economics at the American University of Beirut in Lebanon, and has been a Research Fellow at the Centre for Economic Policy Research, London, U.K. since 1997. She served as Associate Editor at the Economic Journal and a member of the ESRC Politics, Economics and Geography College in the UK. Her research interests are in the areas of dynamic macroeconomic modeling, business cycles, and growth. She has published papers in the International Economic Review, Econometrica, The Review of Economic Studies, Economic Theory, Journal of Money, Credit, and Banking, The Journal of Macroeconomics, Macroeconomic Dynamics, European Review of Economic History, Journal of Economic Dynamics and Control, International Finance, International Journal of Forecasting, among others. She has also coauthored or edited books from Academic Press, Cambridge University Press, and Routledge Publishers. Her most recent book is a monograph entitled Business Cycles: Fact, Fantasy, and Fallacy, published by World Scientific (2009).

Cem Çakmaklı graduated from the Tinbergen Institute at Erasmus University Rotterdam in 2011. He worked at the University of Amsterdam as an Assistant Professor of Econometrics until 2013. In 2013, he received a prestigious AXA post-doctoral research grant and, currently, he is an Assistant Professor at Koç University. He has published in the International Journal of Forecasting, Journal of Applied Econometrics, Journal of Economic Dynamics and Control, and EoconomiA. His main research interests include time-series econometrics and its applications in macroeconomics and finance.

Rüveyda Nur Gözen received her B.A. in Economics from Middle East Technical University and her M.A. in Economics from Koç University. In the fall of 2016, Gözen began her Ph.D. studies in Economics at the University of Illinois at Chicago. Her research interests are applied macroeconomics, econometrics, and development economics.

Arindam Bandopadhyaya is Professor of Finance at UMass Boston, where he was the Chair of the Accounting and Finance Department for fifteen years and is currently the Interim Dean of the College of Management. He has published in leading academic journals like the Journal of International Money and Finance, Journal of Empirical Finance, Journal of Banking and Finance, and Review of Economics and Statistics. He has presented his research in national and international conferences and in venues like the Boston Federal Reserve and the Boston Stock Exchange.

Jinglin Yang is a Finance Associate at Providence Equity Partners. She received her bachelor's degree in Accounting from Ohio Wesleyan University and worked as an Audit Assistant in Deloitte & Touché. While working at Deloitte, she was fascinated by the financial market and decided to pursue an MSF degree at UMass Boston. Jinglin is a CPA and has passed all 3 levels of the CFA Exam. Previously, she worked as an Equity Research Intern focusing on emerging technology at Oppenheimer & Co. Inc. and also worked as a Financial Analyst at Providence Specialty Product.

Boopen Seetanah is an Associate Professor at the University of Mauritius and the Faculty Research Advisor at the Faculty of Law and Management. He is currently the Director of Research International Centre for Sustainable Tourism and Hospitality at UoM and the WTO Chair Programme Co-chair. His research interests are transport and tourism economics, development, trade, and applied financial economics. Boopen has published several articles in the above fields and in leading journals. He also is a reviewer for a number of world-leading academic journals as well as an editorial board member for a few journals. He has been consulting with both the government of Mauritius and with international organization including UNCTAD, World Bank, UNDP, UNEP, African Development Bank, ILO, and COMESA among others.

Shashi Jeevita Matadeen is currently a Lecturer at the University of Mauritius in the Faculty of Law and Management. She has completed the CFA program and has recently completed her Ph.D. Her research interests include economic development, financial development, and stock markets.

İlkay Şendeniz-Yüncü obtained B.S. and M.S. degrees in civil engineering as well as an MBA from Middle East Technical University. She received a Ph.D. in finance from Bilkent University in 2007 and subsequently conducted postdoctoral research at the University of California, Berkeley and Tilburg University. She taught at Bilkent University and Tilburg University before joining IÉSEG School of Management as an Assistant Professor of Finance in 2008. Currently, she is an Assistant Professor of Finance at Middle East Technical University. Her research interests are banking, finance–growth relationships, and financial markets.

Levent Akdeniz obtained a Ph.D. in economics from the University of Houston in 1996. He joined the Bilkent University Faculty of Business Administration in the same year. His research interests include asset pricing and computational methods in economics. He teaches courses in microeconomics, macroeconomics, money and banking, and corporate finance.

Kürşat Aydoğan obtained a B.S. in management and an MBA in general management from Middle East Technical University, following which he received a Ph.D. in finance from Syracuse University in 1986. Before joining Bilkent University the same year, he taught at Ball State University and Middle East Technical University. Currently, he is a Professor of Finance and vice rector in charge of finance and administration at Bilkent, where he also served as dean of the Faculty of Business Administration until 2004. He has worked as a consultant in the Research Department of the Central Bank of Turkey (1988–1993) and taught at Michigan State University in spring 2000. His research interests are investments, capital markets, and corporate finance.

Maria Lucia Passador is currently a Research Fellow in Business, Angelo Sraffa Department of Legal Studies, at Bocconi University (Milan), inter alia, she was Visiting Scholar at Columbia Law School (New York, NY) and Visiting Researcher at Harvard Law School (Cambridge, MA). Her active research interests and publications relate to corporate law, financial exchanges and securities regulation, especially in a comparative perspective.

Luis Alfonso Dau is an Associate Professor of international business and strategy at the D'Amore-McKim School of Business, Northeastern University (see luisdau.com for detailed CV). His work operates at the intersection of political economy and international business. Cited over five hundred times, his award-winning research has appeared in the top journals in the field including the Journal of International Business Studies, Academy of Management Journal, Journal of Business Venturing, Entrepreneurship: Theory & Practice, Journal of World Business, Journal of International Management, and Global Strategy Journal. His research focuses on the effects of country-level institutional factors on the performance, global strategy, and corporate social responsibility of emerging market firms. Dau is a John Dunning Visiting fellow at Henley Business School at the University of Reading as well as an associate fellow at the Center for Emerging Markets at Northeastern University.

Elizabeth M Moore is a Visiting Assistant Professor at the D'Amore-McKim School of Business and the Global Resilience Institute, Northeastern University. Elizabeth's research interests include emerging markets and the interplay between systematic political actors and economic development with a specific focus on the determinants and benefits of entrepreneurship within emerging markets amidst a globalizing world. Her research has been recognized at several international conferences as a finalist for best overall paper and best thematic fit. While affiliated with the D'Amore McKim School of Business and the Global Resilience Institute, Elizabeth's research will focus on firm resilience corporate social responsibility, the dichotomy between formal and informal entrepreneurship, firm performance, and international strategy amidst a changing normative environment.

Katharine Petrich is a doctoral candidate in Political Science at North-eastern University in Boston, Massachusetts. Her academic interests center on issues of international security, gray area conflict, and the impact of violent transnational non-state actors in a globalizing world. Her tentative doctoral dissertation will focus on transnational crime and terrorism and the subsequent impact it has on states. During her tenure at Northeastern, Katharine has participated in several research clusters and served on research teams to contribute to a better understanding of the implications of non-state actor conflict and violence. She has an upcoming research appointment with a research branch of the United States military, where she will seek to understand the determinants and outcomes of politically charged violence and non-state actors throughout Latin America.

Max Abrahms is an Assistant Professor of political science and public policy whose research focuses on the consequences of terrorism (see tinyurl.com/jmn6t4x for detailed CV). Abrahms is also affiliated with the Council on Foreign Relations, the Observer Research Foundation in India, and the Center for Cyber and Homeland Security. Abrahms has published in the top international relations journals such as International Organization, International Security, International Studies Quarterly, Foreign Affairs, Comparative Political Studies, Security Studies, and Harvard Business Review. Abrahms fields daily interviews on the effects of terrorism with international media outlets such as the BBC. Previously, he has been awarded fellowships and financial backing from Stanford University, Princeton University, Dartmouth College, West Point Military Academy, Tel Aviv University, Bar Ilan University, Johns Hopkins University, and Harvard University.

Marc Desban has been a Ph.D. student at the Institut de Recherche en Gestion (IRG) at the University Paris-Est since 2015. He is a graduate of the Eiffel School of Management (IAE Gustave Eiffel), where he was awarded his Master's [2015] in portfolio management. He is also a graduate of the University of Cergy-Pontoise, where he received a double Master's in market and corporate finance [2014]. His current research is related to asset pricing models, market anomalies, socially responsible investment, and corporate social responsibility. Marc teaches courses on finance.

Souad Lajili Jarjir is Assistant Professor of finance at the Eiffel School of Management (IAE Gustave Eiffel) and has been a researcher at the Institut de Recherche en Gestion (IRG) at the University Paris-Est since 2008. She graduated from the University Paris Dauphine (France), where she obtained her Ph.D. [2003] and MBA [2000]. Souad has published in various international academic journals, including the European Journal of Finance, the International Journal of Economics and Finance, Quality & Quantity International Journal of Methodology, Revue des Sciences de Gestion, and Bankers Markets & Investors. Her current research deals with issues related to asset pricing models, financial markets, socially responsible investment, and corporate social responsibility. Souad teaches postgraduate courses on Portfolio Management, Risk Management, Financial engineering, and Socially Responsible Investment, and a graduate course on Portfolio Management and Financial Analysis Case studies.

Juan Arismendi Zambrano is Lecturer in Finance in the University of Maynooth, National University of Ireland and is Visiting Research Fellow of the ICMA Centre, University of Reading. In the past, he was Assistant Professor and Director of the Department of Economics, Accountancy, and Finance at the Business School of the University of Monterrey (UDEM), Senior Visiting Professor at the Technological Institute for Superior Studies of Monterrey (ITESM) — Campus Leon, and Assistant Professor at the Federal University of Bahia, Brazil. He was Research Fellow of the University of Brasilia under the supervision of Prof. Herbert Kimura. He has a Ph.D. in Finance (Mathematica Finance) from the ICMA Centre, Henley Business School (AACSB, AMBA, EQUIS) in the University of Reading, UK. He is certified as PRM (Professional Risk Manager — PRMIA), FRM (Financial Risk Manager-GARP), CQF (Certificate in Quantitative Finance, 7city, Wilmott), Series 65 Investment Advisor Law Examination, and as Investment Advisor by the Certificate of Investment Management from the Chartered Institute of Securities and Investment (Unit 6 FSA Principles of Financial Regulation+Unit 5 Investment Management) from the United Kingdom. He has published in Finance, Numerical Algebra, Statistics, and Physics journals such as: 'Journal of Banking and Finance', 'International Review of Financial Analysis', 'Applied Mathematical Finance', 'Numerical Linear Algebra with Applications', 'Journal of Multivariate Analysis', and 'Chaos Solitons & Fractals'.

Evren Arik is a graduate from the Department of Economics at Middle East Technical University. He earned an MA degree in history from Ankara University in 2010. Following his career at PriceWaterhouseCoopers and Central Bank of The Republic of Turkey during 2004–2008, he started to work as an assistant specialist at Borsa Istanbul, in 2008. He is currently working as a senior specialist in the Research and Business Development Department of Borsa İstanbul. He is currently a Ph.D. candidate in finance at Galatasaray University. His areas of research interest include financial markets, derivatives, and behavioral finance.

Ömür Süer is Professor at Galatasaray University, Department of Business Administration. She received her Ph.D. in finance from Sorbonne University (Paris) in 2002, and from Boğaziçi University (Istanbul) in 2005. She is the author or co-author of several articles and has published in different journals including The Singapore Economic Review, North American Journal of Economics and Finance, and Emerging Markets Finance and Trade. Her research interests concentrate on the following topics: Bank management, credit risk management, and behavioral finance.

Silvia Grandi holds a Ph.D. in Economic Geography from the University of Bologna (Italy). She is Associate Professor in Geography (Italian ASN). She has been specializing at the Vrije Universiteit Brussel (VUB), University of Newcastle, and at the University of Sussex (SPRU). She is Adjunct Professor in many Italian universities in geography and applied economics, such as University of Bologna, University of Modena and Reggio Emilia, University of Naples "Federico II", University of Salento, and International University Uninettuno. She is a tenure director of the Italian Ministry of Economic Development and an expert in economic development policy, public finance, international relations, and geopolitics. She has extensively participated in international, European and national research networks in economic policies and, lately, in finance geography.

Fabio Massimo Parenti, Ph.D., is Associate Professor in Geography (Italian ASN). He teaches at the Italian International Institute Lorenzo de Medici in Florence. He has been Visiting Professor at the China Foreign Affairs University, Beijing; Southern New Hampshire University, USA and the Tecnológico de Monterrey, Mexico City and Monterrey campuses. He teaches the following courses: Global Financial Markets, China's Development and the Global Shift, Globalization and Social Change, and War and Media. For further information about academic appointments and publications see: http://ldminstitute.academia.edu/FabioMassimoParenti.

Sample Chapter(s)
Preface
Chapter 1 - International Stock Markets Linkages: A Dynamic Factor Model Approach