Has Micro-financing and the Global Recession changed the Importance of Credit in Liability Management?

Asset Liability Management in Rural Banking

Economic Innovations Connecting Public and Private Sectors: A Positive Development?

The Future of Internet Banking

Its time to say good bye to old topics....I have identified following topics on which very good research can be conducted(Research Paper/ Thesis).

1. Work Place Incivility2. Envy at Workplace3. Transfer of Training4. Employee Creativity5. Abusive Supervision6. Calling7. Trust in Leadership8. Glass Ceiling9. Employee Silence 10. Stigma at Workplace

Honours thesis topics in finance

If you are interested in doing an honours thesis on any of these topics then you should

contact the appropriate academic as listed below.

Nadima El-Hassan

1. The Use of Monte Carlo simulation for the Pricing of Exotic Derivatives. (Student

needs to be proficient in an advanced programming language).

2. Tracking of Bond Indices.

Nahid Rahman

1. The role of the Board and the ownership structure of the firm in controlling the

agency cost of equity.

2. The market reaction to corporate events across firms

Erik Schlogl

1. The risk management of minimum return guarantees for hedge funds

2. Hedging interest rate options under model uncertainty

3. Synthetic CDOs (Collateralised Debt Obligations)

Tony He

1. The financial market dynamics of technical and fundamental trading rules

2. Bounded rationality, learning and behaviour finance

Gordon Menzies

1. Measuring the cost of reform effort within developing countries.

Ron Bird

1. Modeling sector performance within the Australian equity market.

2. Alternative explanations for price momentum

3. Do equity analysts follow or lead the market?

4. The value/momentum cycle in Australia

Eckhard Platen

1. Construction and analysis of market indices

Example finance dissertation topic 1:According to Barrett (2011), ‘one of the financial instruments of mass destruction, commercial mortgage-backed securities (CMBS for short) were at the toxic heart of the credit crunch, providing a fast route to cheap debt… but now, there are hopes that the real estate securitisation markets could creak back into life’ – a critical appraisal.The credit crisis has indeed left a trail of destruction in financial markets, but opportunities to learn from the mistakes of the past abound. This study undertakes an extensive literature review of commercial mortgage-backed securities and considers whether there is a strong future for the product, whilst taking note of the lessons of the past decade. Additionally, the study utilises a primary research method, with the analysis of one-on-one interviews with five leading figures in the City. Finally, it concludes with recommendations for how this market can act responsibly in the future.Suggested initial topic reading:

Baum, A. (2009) Commercial real estate investment: A strategic approach. London: Estates Gazette.

Brealey, R. and Myers, S. (2008) Principles of corporate finance. London: McGraw Hill.

Brueggeman, W.B. and Fisher, D.D. (2008) Real estate finance and investments (13th edn). London: McGraw-Hill.Example finance dissertation topic 2:Lines of credit in corporate finance: A post-global-crisis case studyThis dissertation evaluates the decision making factors that lead organisations and firms to use either cash or bank lines of credit in corporate liquidity management. In so doing issues relating to viable liquidity substitutes are investigated as well as the need for firms to maintain high cash flows.  The dissertation suggests that firms need to maintain high cash flows if they are to remain compliant with covenants, and that banks restrict access to credit facilities where firms are found guilty of covenant

violations. This is a highly topical dissertation that can be moulded to a number of global arenas.Suggested initial topic reading:

Demiroglu, C. and James, C. (2011) ‘The use of banklines of credit in corporate liquidity management: A review of empirical evidence’, Journal of Banking & Finance, Vol. 35(4), pp. 775-782.

Sufi, A. (2009) ‘Bank lines of credit in corporate finance: An empirical analysis’, The Review of Financial Studies, Vol. 22(3), pp. 1057-1088.Example finance dissertation topic 3:Shipping finance in Singapore: A case study of current optionsSingapore is an international shipping hub, and ship-building remains a profitable activity on the island. This study examines the options for ship owners based in Singapore who seek to finance new builds as well as reconstruction projects. Banks remain a predominant source of funding, even in the wake of the financial crisis, which has seen numerous banks seek to reduce their exposure to shipping firms. This dissertation undertakes interviews with three ship owners in order to break through the discreet world of shipping finance, and presents a synthesised analysis of not only how they arrive at financing decisions, but an objective view of their best options.Suggested initial topic reading:

Menkhoff, T. and Evers, H-D. (2011) The governance of Singapore’s knowledge clusters: off shore marine business and waterhub. Unpublished thesis, Munich University.

Zeng, Y.Y., Gong, S. andYe, H.Q. (2010) ‘Ship financing practices in Hong Kong: What changes has the financial tsunami wrought?’, International Centre for Maritime Studies, IFSPA 2010, 15-18 October 2010, Chengdu, China.Example finance dissertation topic 4:Financial risk management in maritime financeThe volatility of the maritime industry is well known, and this volatility has been further affected by changes in the financing of ships as banks become more cautious lenders. This study considers how shipping finance is likely to become increasingly involved in loan securitisation, which will bring new risks to ship owners. This study considers the measures ship owners will need to undertake to prepare themselves for such changes, with particular regard to financial risk management. It evaluates maximum levels of risk, and how such levels can be determined, and speculates how this will change shipping investment and new build rates.Suggested initial topic reading:

Albertijn, S., Bessler, W. and Drobetz, W. (2011) ‘Financing shipping companies and shipping operations: A risk-management perspective’, Journal of Applied Corporate Finance, Vol. 23(4), pp. 73-82.

Idelhakker, B. and Hamza, F. (2011) ‘Risk management of oil maritime transportation’, Energy Systems, Vol. 2(1), pp. 67-82.Example finance dissertation topic 5:A critical discussion of the use, for investment purposes, of standard deviation as a risk indicator

Risk is a critical component of investing, and within the field of investment analytical tools are used to guide investment decisions. Chief amongst these, historically, has been the use of standard deviation. This has been used because it can illustrate the volatility of a potential investment, and the correlated inherent risk associated with it, that can be correlated to its volatility. Using predominantly secondary sources this dissertation charts the development of the standard deviation over the last forty years and evaluates its on-going appropriateness as a mechanism by which to evaluate risk in the post credit crunch era.Suggested initial topic reading:

Konno, H. and Yamazaki, H. (1991) ‘Mean-absolute deviation portfolio optimization model and its applications to Tokyo Stock Market’, Management Science, Vol. 37(5), p. 519-531.

Merton, R.C. (1973) ‘On the pricing of corporate debt: The risk structure of interest rates’, American Finance Association, December 1973, p. 1-35.

Tobin, J. (1958) ‘Liquidity preference as behavior towards risk’, Review of Economic Studies, Vol. 25(1), pp. 1-26.Example finance dissertation topic 6:An analysis of the extent to the most important risk that international banks face in cross-border operations is political riskAs Garrett, Mahadeva and Sviridzenka note, ‘systemic risk among the network of international banking groups arises when financial stress threatens to criss-cross many national boundaries and expose imperfect international co-ordination’ (2011: 1). This paper considers this phenomenon and evaluates methods by which international banks may determine and mitigate risk in a global climate that is no less stressful today than it was ten, twenty or one hundred years ago. Political understanding is a key component of managing risk in this environment and must be evaluated carefully in order to contain risk. This study conducts interviews with a representative of the Bank of England and well as financial figureheads to develop a wider understanding of the problem.Suggested initial topic reading:

Nolle, D.E. and Kelly, H.C. (2003) ‘Cross-border outsourcing and risk management for banks’, Capco Institute Journal of Financial Transformation, Vol. 8, pp. 63-72.

Garrett, R., Mahadeva, L. and Sviridzenka, K. (2011) ‘Mapping systemic risk in the international banking network’, Bank of England Working Paper No. 413, London: Bank of England.Example finance dissertation topic 7:With reference to the Dutch banking sector and contemporary developments within corporate governance: To what extent is there now a closer correlation between the expectations of internal and external auditors?The introduction of a new Dutch Corporate Governance code from 1st January 2009 has ushered in a new era of corporate governance within the Dutch banking sector. Underlying the reforms was a desire, as a consequence of the global credit crunch, to restore trust in the system. The reforms have centred upon three specific aspects: increasing governance within banks, audit, risk management, and remuneration policies. Three years into this new system this dissertation seeks to evaluate the

extent to which the reforms have realised their creators’ intentions and does so via reference to the auditing and governance arrangements presently in existence within four Dutch banks. Accordingly, this dissertation supplements existing academic knowledge through conducting interviews with a number of senior banking officials so that this study advances understanding within the field.Suggested initial topic reading:

Code Tabaksblat (Frijns, J., ed.) (2008) De Nederlandse corporate governance Code. Available

at: http://www.commissiecorporategovernance.nl/page/downloads/Dec_2008_Code_NL.pdf [accessed 27 May 2012].

Friesland Bank (2010), Financieel jaaroverzicht 2010, Friesland Bank: Leeuwarden, pp. 1-163.

Glover, S.M., Prawit, D.F. and Wood, D.A. (2008) ‘Internal audit sourcing arrangement and the external auditors’ reliance decision’, Contemporary Accounting Research, Vol. 25, pp. 193-213.Example finance dissertation topic 8:Since 2010, has the IMF done enough to overcome its perceived institutional illegitimacy and inefficiency?According to its then Managing Director, Dominique Strauss-Kahn, the IMF agreed in 2010 to ‘the most fundamental governance overhaul in the Fund’s 65-year history and the biggest ever shift of influence in favour of emerging market and developing countries to recognize their growing role in the global economy’ (IMF, 2010). This was done in partial response to previous claims by, amongst others, Coffey and Riley, (2006), that the IMF lacks legitimacy and is inefficient. Using Strauss-Kahn’s pronouncement along with the academic opinions of Coffey and Riley this dissertation evaluates the post 2010 reforms to the governance of the IMF.Suggested initial topic reading:

Coffey, P, and Riley, R. (2006) Reform of the international institutions: The IMF, World Bank and the WTO. Cheltenham: Edward Elgar Publishing Limited.

Seabrooke, L. (2007) ‘Legitimacy gaps in the world economy: Explaining the sources of the IMF’s legitimacy crisis’, International Politics, Vol. 44, pp. 250-268.

Suchman, M. C. (1995) ‘Managing legitimacy: Strategic and institutional approaches’, Academy of Management Journal, Vol. 20, pp. 571-610.

Thatcher, M. and Stone Sweet, A. (2002) ‘Theory and practice of delegation to non-majoritarian institutions’, West European Politics, Vol. 25, pp. 1-22.Example finance dissertation topic 9:Quantitative easing: The controversial approach of the Bank of EnglandEven within the Bank of England itself, the approach of quantitative easing to the current financial crisis has been riven by controversy. This study examines the methods by which the Monetary Policy Committee arrives at its decision, and takes a particular interest in the views of the former member of the Committee, Professor Andrew Sentance, who was a vociferous opponent to the rounds of quantitive easing undertaken by the Bank. The author will seek to interview Prof. Sentance (currently at the University of Warwick) to gain a greater understanding of the dilemmas faced by the Committee.

Suggested initial topic reading: Joyce, M. (2012) ‘Quantitative easing and other unconventional monetary policies:

Bank of England conference summary’, Bank of England Quarterly Bulletin. London: Bank of England.

Joyce, M., Tong, M. and Woods, R. (2011) ‘The United Kingdom’s quantitative easing policy: Design, operation and impact’, Bank of England Quarterly Bulletin. London: Bank of England.

Sentance, A. (2011) ‘The UK’s inflation problem: Selling England by the pound?’, Speech given by Andrew Sentence, at the Institute of Economic Affairs, State of the Economy Conference, London, 17 February 2011.Example finance dissertation topic 10:A critical assessment of the role of the WTO in world trade. To what extent can it be argued that the organisation, in its institutional operations, is designed primarily to advance the interests of developed nations?This dissertation seeks to evaluate the extent to which the five underlying principles noted still guide the work of the WTO. First, it examines the principle of non-discrimination. Secondly, the study reviews the issue of transparency (in both operations and internal governance). Thirdly, it considers the principle of fairness and equitability within trade negotiations and agreements. Fourthly, the dissertation explores the principle of reciprocity, and finally the extent to which preferential trade treatment is still enshrined within the workings of the WTO so as to support the infant industries of developing nations. Through an analysis of various policies and protocols adopted by the WTO over the last fifteen years this dissertation offers a range of comments and analysis as to the extent to which each of these underlying principles still shapes the workings of the WTO in this decade of the 21st century.Suggested initial topic reading:

Bowman, G.W. (2011) ‘Of haves and have-nots: A review of developing countries and the multilateral trade regime: The failure and promise of the WTO’s development mission’, Trade, Law and Development, Vol. 3(1), pp. 242-265.

Hanegraaf, M., Beyers, J. and Braun, C. (2011) ‘Open the door to more of the same? The development of interest group representation at the WTO’, World Trade Review, Vol. 10, pp. 447-472.Example finance dissertation topic 11:Corporate strategy and capital structure: An analysis of the linkages between themLong-term capital structure decisions help determine corporate flexibility and the advancement of strategies that may be utilised in the face of external or internal pressures. Given this, capital structure decisions are a complex function, influenced by, amongst other factors, institutional structures, liquidity constraints, tax regimes, and liquidity constraints. Within this context the link between corporate strategy and capital structure becomes paramount. Accordingly, this dissertation answers three questions: first, how the decisions made in developed and developing countries differ with regard corporate financial leverage. Secondly, it addresses the implications of cultural diversity between countries upon individual policy makers within firms. Thirdly, it considers the extent to which there is a similarity between the

cross-sectional variability of individual countries’ capital structures. The dissertation can be moulded to suit a range of individual countries.Suggested initial topic reading:

DeAngelo, H., DeAngelo, L. and Whited, T.M. (2011) ‘Capital structure dynamics and transitory debt’, Journal of Financial Economics,Vol. 99(2), pp. 235-261.

Kovenock, D. and Phillips, G.M. (1997) ‘Capital structure and product market behaviour: An examination of plant exit and investment decisions’, Review of Financial Studies, Vol. 10(3), pp.767-803.

Titman, S. and Wessels, R. (1988) ‘The determinants of capital structure choice’, Journal of Finance, Vol.43, pp. 1-19.Example finance dissertation topic 12:Investment banking: Global multinationals or regional players?This dissertation applies the ideas espoused by Li and Rugman (2007) to investment banking. As a consequence, this thesis posits that within the investment banking sector it is more appropriate to view such firms not as global multinationals but rather in terms of their regional dominance and predominance. This contention is explored within this study not only via reference to the work of Li and Rugman but also through an analysis of the importance of individual investment banks to individual economies and the specific nature of banking regulation within individual countries.Suggested initial topic reading:

Li, J. and Rugman, A.M. (2007) ‘Real options and the theory of foreign direct investment’, International Business Review, Vol. 16(6), pp. 687-712.

Smith, R.C., Walter, I. and DeLong, G. (2012) Global banking (3rd edn). Oxford: Oxford University Press.Example finance dissertation topic 13:Given the on-going effects of the global recession, what measures should be enacted to regulate credit rating agencies so as to minimise the potential for previous mistakes within the sector being repeated?Advancing three interlocking hypothesises, this dissertation assess each with reference to existing academic literature upon the subject area and through the collation of primary research. First, to what extent can the credit rating agencies be blamed for giving investment grade credit ratings to toxic securities? Second, as no mathematical model exists that accurately predicts the risks inherent in such types of derivatives, is it appropriate to suggest that the credit rating agencies should not have given credit ratings to mortgage-backed securities? Third, because there was no sectoral incentive to ensure that the credit ratings given were of high quality, what regulatory measures can be enacted to safeguard against such an approach being adopted in the future?Suggested initial topic reading:

Ashcraft, A.B. and Schuermann, T. (2008) Understanding the securitization of subprime mortgage credit. Hanover, MA: Now Publishers Incorporated.

Gupta, V., Mittal, R.K. and Bhalla, V.K. (2010) ‘The role of the credit rating agencies in the financial market crisis’, Journal of Development and Agricultural Economics, Vol. 7, pp. 268-276.

Hunt, J.P. (2009) ‘Credit rating agencies and the ‘Worldwide Credit Crisis’: The limits of reputation, the insufficiency of reform, and a proposal for improvement’, Columbia Business Law Review, Vol. 1, 2009, pp. 109-209.Example finance dissertation topic 14:An analysis of the motivational factors encouraging British nationals to become expat workers in SpainThis is a dissertation that seeks to be primarily focused on the collection of new data. Though there is a need for all research to be grounded in existing academic opinion and literature this dissertation uses such literature purely as a theoretical backdrop. Accordingly, the majority of the research revolves around interviews with 150 British expats and their motivation for living and working abroad. Issues such as cultural diversity, climate and economic rewards are discussed as well as issues pertaining to financial governance and taxation.Suggested initial topic reading:

Brewster, C. (1995) ‘Effective expatriate training’, in Selmer, J. (ed.), Expatriate management: New ideas for international business. Westport, CT: Quorum Books.

Deshpande, S.P. and Viswesvaran, C. (1992) ‘Is cross-cultural training of expatriate managers effective: A meta-analysis’, International Journal of Intercultural Relations, Vol. 16, pp. 295-310.

Dowling, P.J., Welch, D.E. and Schuler, R.S. (1998) International human resource management: Managing people in a multinational context. Cincinnati, OH: South-Western College Publishing.Example finance dissertation topic 15:15) Islamic banking: A matter of semantics?A popular presentation of Islamic banking is that it does not charge interest. This study challenges that view and suggests that the reality of Islamic banking differs little from conventional banking, other than in terminology. It undertakes a comprehensive analysis of the mechanisms of Islamic banking and compares them to traditional banking, taking note of papers such as those by Zaman and Movassaghi (2002) and Chong and Liu (2009). Further, the paper considers how much the presentation of Islamic banking is a propaganda tool of the resurgence of Islam globally.Suggested initial topic reading:

Chong, B.S. and Liu, M.H. (2009) ‘Islamic banking: Interest-free or interest-based?’ Pacific-Basin Finance Journal, Vol. 17(1), pp. 125-144.

Siddiqui, M.N. (2001) ‘Islamic banking: True modes of financing’, New Horizon, pp. 15-20.

Zaman, M.R. and Movassaghi, H. (2002) ‘Interest-free Islamic banking: Ideals and reality’, The International Journal of Finance, Vol. 14(4), pp. 2428-2443.

Topic: Bayesian methods for Value-at-Risk estimation Risk estimation is essential in asset allocation for balancing return expectations with risk taken. We would like to investigate the relevance and applicability of Bayesian statistical methods for Value-at-Risk estimation. Are these methods better at predicting risk for portfolios?

Business unit: Danske CapitalLanguage of thesis: EnglishLocation of contact person: Lyngby, Denmark

Topic: Financial regulation and macro economy How has the increased financial regulation affected the possibility to restore the economies of Western countries following the financial crises of 2008? Does the new regulation imply a more or less efficient allocation of capital in society? How does financial regulation affect expected returns in the financial markets?

Business unit: Danske Bank, MarketsLanguage of thesis: Danish or EnglishLocation of contact person: Copenhagen, Denmark

Topic: Through-the-cycle rating of customers When assessing the credit-worthiness of customers, banks assign ratings to these. The rating of a given customer reflects the estimated probability that the customer will default on his/her payments within the next year. It is common practice to distinguish between point-in-time and through-the-cycle ratings, the former being highly affected by the prevailing macro-economic environment, the latter representing a customer's enduring, long-run credit risk trend. Your task will be to investigate various through-the-cycle rating approaches (and perhaps invent your own approach), in terms of feasibility, transparency, applicability and assessment of the bank's capital need.  

Business unit: Risk & Capital, Group Credit, Pricing & RiskLanguage of thesis: English Location of contact person: Copenhagen, Denmark

Topic: Pricing and hedging of swaptions in a low interest rate environment Challenges of the current SABR market model and input for alternatives or expansions.  

Possible thesis structure: • Theory of pricing and hedging of swaptions with fixed volatility and evaluation of 'greeks'.  • Expansions of the SABR model and assessment of model greeks such as changes in volatility by changing the forward • Expansions or alternatives to the SABR model • Effective calibration of the models• Testing results on empirical data, such as the 'greeks' coming from the models. 

Business unit: Danske Bank, MarketsLanguage of thesis: Danish or EnglishLocation of contact person: Copenhagen, Denmark

Topic: Does higher risk imply higher expected returns? Traditional portfolio theory states that an investor will be compensated for taking more risk in their invesments through a risk premium, which will imply a higher expected return. One thing is theory. What about real data? Do stocks yield a higher return than bonds in the long term? Is it beneficial to leverage low-beta assets rather than investing in high-beta?

Business unit: Danske Bank, MarketsLanguage of thesis: Danish or EnglishLocation of contact person: Copenhagen, Denmark

Topic: Market-implicit expected returnsThe typical asset allocation approach takes the investor's expectations regarding returns and risk as input. Even though that may be next to impossible to give a qualified assessment of. An alternate approach is to begin with the market portfolio and calculate what the expected level of return for each asset "needs to be"

in order for the portfolio to be efficient. In other words, how does the market price risk premiums across asset classes? Does this method provide sensible results? Will the composition of the portfolio become more stable over time?

Business unit: Danske Bank, MarketsLanguage of thesis: Danish or EnglishLocation of contact person: Copenhagen, Denmark  

Topic: How will global trends in health care impact private health insurance? Trends in health care and rising health care costs is a hot topic in the public debate: Aging populations, technological advances, personalized medicine etc. will cause health care costs to continue to rise and will have impact on health care spending and delivery. Health care products are popular and create high perceived value with our customers throughout their work life. Does private health insurance have a demonstrable effect on public health care spending? And if it does, which insurance benefits will have the greatest impact in the future? Which customer needs/insurance benefits should Danica Pension focus on?

Business unit: Danica PensionLanguage of thesis: Danish or EnglishLocation of contact person: Lyngby, Denmark

Topic: Governance structure in a bankFundamental principles on governance structure for financial institutions are defined in section 71 of the Financial Business Act and Executive Order no 1325 of 3 December 2010. What is the purpose of a governance model? What should be considered when forming the governance model in a bank? Culture, competencies, incentives etc. should be taken into account. What would be the most effective governance model for a bank regarding financial performance? Consider the range from a holding structure to a centrally managed organisation/outlet structure. 

Business unit: Credit Methods & IRB. Group Credit, Pricing & RiskLanguage of thesis: EnglishLocation of contact person: Copenhagen, Denmark

Topic: Impairment loss post crisisFollowing the financial crisis, politicians agreed that banks' level of provisions against future losses were 'too little too late'. The current accounting rules, IAS39, allow for provisions against incurred losses. A new set of rules is being developed to allow for provisions against expected future losses and incurred losses. An interesting aspect of the new rules would be to explore the level of counter-cyclicality in the new accounting rules, including the interplay with the new Basel III regulation. How can Danske Bank make sure that provisions and capital are adequate to account for future losses? And how do we make sure that the buffer isn't built in times of high losses?

Business unit: Group Credit, Pricing & RiskLanguage of thesis: EnglishLocation of contact person: Copenhagen, Denmark

Name Degree Thesis   2011  Ata, MichaelMAA Bayesian Approach to Antitrust Liability: Exclusive Dealing and a PredationSupervisor:  Dr. Jeffrey ChurchBaker, SusanMALoyalty Programs: A Review of the Competition Commissioner versus Canada Pipe CaseSupervisor:  Dr. Jeffrey ChurchGres, MargaritaMAMeasures of Fiscal Insurance to Canadian ProvincesSupervisor:  Dr. Ronald KneeboneLazcano Mancisidor, ItziarPhDIntergenerational Externalities, Economic Growth and the EnvironmentSupervisor:  Dr. Francisco GonzalezTessonyi, AlmosPhDEssays on Municipal Finance in Ontario from a Historical PerspectiveSupervisor:  Dr. Herb EmeryWinter, JenniferPhDEssays on Government Policy and the Development of Natural

ResourcesSupervisor:  Dr. John BoyceZavaleta, ArmandoPhDGovernment, Lobbies, International Cooperation and the EnvironmentSupervisor:  Dr. Joanne RobertsCo-Supervisor:  Dr. Sjak Smulders   2010  Fellows, Garret KentMANegotiated Settlements and Intergenerational Equity in the Pipeline Service Market:  Borrowing from Pete Jr. to pay Pay Sr.

Supervisor:  Dr. Aidan HollisJiang, ShanPhDThree Essays in International TradeSupervisor:  Dr. James GaisfordKhademvatani, AsgarPhDMeasuring Energy Efficiency in Economics: Shadow Value ApproachSupervisor:  Dr. Paul SerletisPakrashi, DebayanMADoes Membership in International Organizations Affect Incidence of Child Labour?Supervisor:  Dr. Eugene BeaulieuMoreno Cruz, JuanPhDEssays on the Economics of GeoengineeringSupervisor:  Dr. David KeithRahman, SajjaduarPhDThree Essays on Volatility and AssymmetrySupervisor:  Dr. Paul SerletisScholefield, RyanMAThe Canada-US Softwood Lumber Dispute: Lessons in Managed TradeSupervisor:  Dr. James Gaisford   2009  Cameron, MariaMADo Financial Incentives to Increase the Birth Rate Affect the Abortion Rate?  An Analysis for Newborn Children in QuebecSupervisor:  Dr. Ken McKenzieGoodlet, CollinMAThe Role of Emotion on the Willingness to Pay to Eliminate UncertaintySupervisor:  Dr. Rob OxobyIvus, OlenaPhDContemporary Isses in Trade and Trade PolicySupervisor:  Dr. M. Scott TaylorJakobsen, AlexanderMACoordination in Games with General Network EffectsSupervisor:  Dr. B. Curtis EatonJanota, NicholasMAIntroducing Competition Into Regulated Network Industries: From Hierarchies to Markets in Canada's Railroad Industry Supervisor:  Dr. Jeffrey ChurchKrzepkowski, MattMAIncome Risk and the Voluntary Provision of Public GoodsSupervisor:  Dr. Rob OxobySo, LawrencePhDMicroeconometric Analyses of Health CareSupervisor:  Dr. Chris AuldTweedle, JesseMAA Convenience Model of Spatial CompetitionSupervisor:  Dr. Curtis EatonVasetsky, OlexandrMAInterfuel and Interfactor Substitution in Different Sectors in the U.S. Economy Supervisor:  Dr. Paul SerletisZarrabi Ghahvechi, MahmoodPhDEconometric Analysis of Healthl and Health Care DynamicsSupervisor:  Dr. Chris Auld   2008  Bruner, DavidPhDEssays on Risk Preference Elicitation in the LaboratorySupervisor:  Dr. Michael McKeeFeng, GuohuaPhD Three Essays on Producitivity and EfficiencySupervisor:  Dr. Paul SerletisHyrina, GenyaMAThe Validity of Purchasing Power Parity over the Last Century Supervisor:  Dr. Paul SerletisKendall, LindsayMAA Sustainable Fiscal Rule for Managing Non-renewable Resource Revenues: Oil Sands as a Second Chance for Alberta Supervisor:  Dr. Ronald KneeboneKomierowski, BeataMAA Model of Natural Gas Exploration Effort in the Western Canadian Sedimentary BasinSupervisor:  Dr. Frank AtkinsLang, SarahMAForced Into the Beauty Pageant:An Economic Analysis of Female Happiness in the Pursuit of Ideal BeautySupervisor:  Dr. Curtis EatonMcLeish, KendraPhD Identity and Social Interactions: Implications for Cooperation, Punishment and Productivity Supervisor:  Dr. Rob OxobyPonsko, PawelPhDEssays on Decision Making and Social

ComparisonSupervisor:  Dr. Rob Oxoby Preston, AshleyMAEnergy Price Volatility and No Risk Deficit in AlbertaSupervisor:  Dr. Ronald KneeboneTamblyn, CharlesMA

An Empirical Examination of the Effects of Endogenous Growth on Exhaustible Resources PricesSupervisor:  Dr. John Boyce

Thomson, GrahamMA Optimal Price-Cap RegulationSupervisor:  Dr. Jeffrey ChurchWipond, KevinMAEconomic Witholding in the Alberta Electricity MarketSupervisor:  Dr. Jeffrey Church   2007  Amery, MohamedMAThe procurement of Ancillary Services in Alberta Supervisor:  Dr. Jeffrey ChurchSagidova, GyulnaraMATheoretical and Empirical Analysis of the Environmental Impact of Kyoto Protocol Supervisor:  Dr. James GaisfordRosenberg, AryehMAOil Price Volatility and the Canadian MacroeconomySupervisor:  Dr. Paul Serletis Weir, LauraMAExamining the Decision of Mountain Climbers to Continue Engaging in the Risky Sport of MountaineeringSupervisor:  Dr. John BoyceVojtassak, LuciaPhDEquilibrium Concepts in Exhaustive Resource Economics Supervisor: Dr. John Boyce   2006  

Chui, Michael Ka Hin

MAUnderstanding the Rationales and Effectiveness of Policies Aimed to Increase the Physical Activity Levels of Canadians Supervisor: Dr. Herb EmeryHuang, YuanyingMAAn Economic Evaluation of Energy Substitution in China Supervisor:  Dr. Frank AtkinsLau, Chui HaPhDThree Essays in Antidumping Theory and PoliciesSupervisor:  Dr. James GaisfordLe Blanc, NicoleMATradable Quotas Within the University of Calgary's Open Scholarship CompetitionSupervisor:  Dr. Elizabeth WilmanLeung, Kin Pan BennyMAThe Duration of Bull and Bear Markets in the Dow Jones Industrial Average Supervisor:  Dr. Paul SerletisMullrooney, John PatrickMAIncome, Demographics, and Subjective Reporting: An Econometric Analysis of Life SatisfactionSupervisor: Dr. Herb EmeryQualizza, Angela DawnMAAn Econometric Valuation of Recreation Users on the Bow RiverSupervisor:  Dr. Daniel GordonPerger, OrsolyaMASpatial and Temporal Aspect of Multiple Use Forest ManagementSupervisor:  Dr. Elizabeth WilmanShahmoradi, AsgharPhDFlexible Functional Forms and the Demand for AssetsSupervisor:  Dr. Paul SerletisSpackman, David EldonMAThe Effects of Cost and Value Information on Embedding in Contingent ValuationSupervisor:  Dr. Gillian CurrieWhite, Katherine GraceMAThe Economic and Political

Determinants of Provincial Social Assistance Rates in CanadaSupervisor:  Dr. Ronald Kneebone   2005  Campbell, MichaelMAAn Examination of Hayek's Hypothesis on Entrepreneurial DiscoverySupervisor:  Dr. Robert OxobyChurchill Jolles, LauraMAThe Antitrust Logit Model: An Application to Spaghetti Sauce MergersSupervsor:  Dr. Jeffrey ChurchEnglish, Ryan Charles RandMAManatchewan and Mantario? A Cost-Benefit Analysis of A Union of Northwestern Ontario and Manitoba and a Provincial Union of Manitoba and SaskatchewanSupervisor:  Dr. Herb EmeryGerrits, KevinMAEstimating Demand for Private Health Insurance: Lessons from AlbertaSupervisor:  Dr. Herb EmeryHladky, Melanie DawnMABenefit-Cost Analysis for Twinning Highway 3 in Southern AlbertaSupervisor:  Dr. Frank AtkinsHuculak, Darren JosephMABack to the Workforce: The Implications of Raising CPP Entitlement Age to 70Supervisor:  Dr. Herb EmerySershun, NataliaMATaxation and R & D: AN Empirical Investigation of Push and Pull EffectsSupervisor:  Dr. Ken McKenzieWang, Wei GuoMAWho Supports Free Trade in Latin America?Supervisor:  Dr. Eugene BeaulieuWiles, Brett WilliamMANitrate Contamination of Groundwater from Agricultural Sources in Southern OntarioSupervisor:  Dr. Ted HorbulykVito, J.C.MA

The Fiscal Sustainability of Canadian MunicipaliatiesSupervisor:  Dr. Ron Kneebone

Zhang, LipingMAThe Canada-U.S. Softwood Lumber Dispute: Economic Welfare Alternative Trade RegimesSupervisor:  Dr. James GaisfordZhang, WeiMAExtreme Value Theory Analysis of Alberata Power PricesSupervisor:  Dr. David Walls   2004  Anderson, CarmenMAAn Analysis of the Bayesian Classification of Monetary Assets in the United States.Supervisor:  Dr. Paul SerletisAyub, SyedMACheating on Quotas in OPEC: An Exploratory StudySupervisor:  Dr. Alan MacFadyenChan, David Kwok WaiMEcMeasuring the Impact of Structural Changes in Alberta's Education SystemChan, Patrick Wing MingMAEuropean Union and European Monetary UnionDr. Paul SerletisBukhari, Kalim SyedMAA Recursive Modeling Approach to Exchange Rate ForecastingSupervisor:  Dr. Patrick CoeCowan, Timothy HughMAProvincial Pricing Problems: The New PPP? Exploring Price Volatility and Law of One Price Deviations in CanadaSupervisor:  Dr. Patrick CoeFinnigan, Hugh PatrickMAAttention Blocking in Consumer Choice: Experimental Analysis with Implications for AdvertisingSupervisor:  Dr. Rob OxobyGallotta, Ann-MarieMA[Course-Based]Han, YuyangMEcThe Equality -Efficiency Tradeoff in Canada's Tax SystemHughes, Michael JamesMEcAn Investigation Into the Extent of Unification in the Crude Oil Market Using Prices and Freight RatesKhan, NassraMAThe Use of 'Contingent Valuation Method' for Valuing Medical ServicesSupervisor:  Dr. Alan MacFadyenKromm, Seija KristiinaMAPublic versus Private Financing of

Health Care in the Market for In Vitro Fertilization Services in Canada: How Does it Affect the Welfare Function?Supervisor:  Dr. Curtis EatonLaroiya, Andrea NatashaMEcEco-Labeling: An Investigation Into the Use and Nature of Environmental LabelingLenko, Charles AlexanderMEcThe Development of the Energy Industry in Western Canada: The Effect of Resource EndowmentLuyendyk. Megan KathleenMALearning in Games: An Experimental Analysis of Learning in the Games with Stable and Unstable Nash EquilibriaSupervisor:  Dr. John BoyceLi, RuntaoMAThe Analysis of the Environmental Kuznets Curve and its Application in CanadaSupervisor:  Dr. John BoyceMacIntyre, GlennMEcElectricity Trade Between Canada and the United StatesMcIntosh, KarenMACooperative Management of s Shared Watershed: A Case Study of Lake Atitlan, GuatemalaMcLeish, KendraMAGender and Affect in Intertemporal ChoiceSupervisor:  Dr. Rob OxobyNg, EddieMAThe Heckscher-Ohlin-Vanek Model and Individual Trade Policy PreferencesRiddell, Daryck JeremyMAEndogenous Protection and Persistence of Canada's National Policy TariffSaito, HanakoMEcWage Inequality and Trade Policy Preferences in MexicoSidhu, Nirmal SinghMAThe Role of Cognitive Ability in the Health Education NexusSupervisor:  Dr. Chris AuldSo, LawrenceMAPostsecondary Dropouts and Differential Grading Standards: An Empirical ApproachTsares, Nicole LaraMAForced Compliance in the Principal-Agent RelationshipWang, HaoMEcThe Determinants of Education Atttainments and Income of Disabled CanadiansZhang, YifengMATesting for Structure and Measuring Scale Effects in the Norwegian Cod Fishery: A Panel Data ApproachSupervisor:  Dr. Daniel GordonWang, YifengMAA Nonparametric Analysis of the Personal Income Distribution Across the Provinces and States in the U.S. and CanadaYu, QingMEcAn Application of the Moroney-Berg Models of Crude Oil Supply in Western Canada and Alberta2003  Blumer, SerenityMANatural Gas Prices and Competition Among Interstate Gas PipelinesSupervisor:  Dr. John BoyceBrown, Wallace JasonMEcStrategic Issues in the Electrical Power Generation IndustryChatttopadhyay, AnasuyaMAIntellectual Property Rights and Agricultural Biotechnology: Implications and Public Policy Choices for a Developing CountrySupervisor:  Dr. Ted HorbulykChiew, RobertMABusiness Cycles Synchronicity and the Fixed Exchange RateSupervisor:  Dr. Paul SerletisChung. JenniferMADebt Accumulation by Canadian Provincial GovernmentsSupervisor:  Dr. Ronald KneeboneIourkova, InnaMAEssays on Natural Gas Price BehaviorSupervisor:  Dr. David WallsGuang, HuangMA

The Global Wealth Redistribution Effect of the Kyoto ProtocolSupervisor:  Dr. Lasheng Yuan

Leswick, Nicholas BradleyMAMunicipal-Provincial Fiscal Balances in AlbertaSupervisor:  Dr. Herb EmeryLi, BIngMAOil Price Shocks and Macroeconomic Activity: An Application of Hidden CointegrationSupervisor:  Dr. Frank AtkinsMacDonald, Patrick BruceMAContingent Claims in the Alberta Electricity MarketSupervisor:  Dr. Frank AtkinsMirza, Munsoor AhmadMAAn Evaluation of Costs and Outcomes

for Middle to Late State Dementia Residents in Traditional Specialized Care EnvironmentsSupervisor: Dr. Gillian CurrieOlson, Arthur VictorMARace to Nowhere: An Expanded Model of Tax CompetitionSupervisor:  Dr. Ken McKenziePancoast, RochelleMAIs the Kyoto Protocol Good for the Environment? A General Equilibrium Consideration of Global Carbon LeakageSupervisor:  Dr. James GaisfordSand, BenMAWage Structure and the Canadian Gender Wage Gap: 1980-1995Supervisor:  Dr. Herb EmerySarvghad-Moghaddam, NIkooMEcThe Impacts of CUSFTA and NAFTA on Canada-U.S. Trade PatternsShea, WalterMACourse-BasedStokl, Richard AntonMAConformity ad Networks in a Simulated SocietySupervisor:  Dr. Paul SerletisSudak, MattahewMAConformity and Networks in a Simulated Society.Supervisor:  Dr. Curtis EatonSun, ZhenMAWavelet-Based Analysis of Fractional Integrated Processes: A Re-Examination of Fisher EffectSupervisor:  Dr. Frank AtkinsSwisterski, PawelMAA Constant Market Share Analylsis of OECD ExportsSupervisor:  Dr. Eugene BeaulieuTepczynska, MalgorzataMAAn Economic Analysis of the Regulating Reserves Market in AlbertaSupervisor:  Dr. Aidan HollisUdberg, JamesMABand Pass Filtering and Purchasing Power ParitySupervisor:  Dr. Patrick CoeWang, HuaixiangMAAn Empirical Study of Scale Economies in the Chinese Railway SystemSupervisor:  Dr. Aidan HollisWong, AndreaMAAdolescent Abuse and Labour Market OutcomesSupervisor:  Dr. Chris Auld   2002  Aksomitis,, KristofferMAStrategic Behaviour in the Alberta Electricity MarketSupervisor:  Dr. Aidan HollisBoudreau, Alexander RossMEcVideo Lottery Terminals in AlbertaChen, PingMEcThe Estimation of Value-of-Time in the Transaction Demand for Money EquationEnns, Edwin JohnMEcConjoint Analysis: An Application to Budgeting in the Health Care SectorHenry, Cailen VanessaMAYouth Substance Use and Human Capital FormationSupervisor:  Dr. Chirs AuldHou, Helen XinrongMAA Theoretical and Empirical Investigation of Election Strategies in CanadaHowland, Thomas MurrayMEcMeasuring Bank Branch Efficiency Using Data Envelopment AnalysisJoy, ChristopherMACanada Labour Market Adjustment: CUSTA and BeyondKee, Gwang-SoogMAAn Empirical Analysis of Canadian Public Health Care Spending and Health: 1975-1996Supervisor:  Dr. Chris AuldKralovic, PaulMEcThe Effects of Economic Integration and Industrial Location in the North of MexicoKrause, DavidPhDInternalizing Network ExternalitiesSupervisor:  Dr. Jeffrey ChurchLai, Kam TimMASpillover Effects between Hong Kong and the US Stock Markets: A Bivariate GARCH Model ApproachLee, HelenMAAn Economic Evaluation of Human Activated Protein C for Patients with Severe Sepsis in the Intensive Care UnitSupervisor:  Dr. Cameron DonaldsonRosnau, LucasMAQuantifying the Preference Intensities

with Physical TasksVirk, Jagat JitMAInflation, Welfare and Monetary Aggregation IssuesSupervisor:  Dr. Paul SerletisVu, JImmyMAEffective Tax Rates on Marginal Costs: Trends and Impact on Firm Location in CanadaWilliams, Roger CharlesMAWilliams on ElectricitySupervisor:  Dr. Aidan HollisYousef, LikaaMADerivation and Empirical Testing of Alternative Option Pricing Models in Alberta's Electricity MarketsSupervisor:  Dr. J. F. Wen

Are Small Bidders Better Bidders? An Investigation of Explanatory Factors of the Bidder Size Effect on Announcement Abnormal Returns 

Examining the Implications of Financing Choice for Cash Acquisitions   Stock Market Integration in CARICOM Member States: A Look at the Barbados, Jamaica and Trinidad and Tobago

Stock Exchanges  Real Option Value of Regional Integration of Foreign Investors   The Hedging Effectiveness of Single Stock Futures: A Study Using Constant and Time-Varying Hedge Ratios Under

GARCH Modeling  Cross-Border Block Share Purchases and Transfer of Corporate Governance   The Predictive Power and Economic Effectiveness of Trading Rule Strategies in the Canadian Equity Market

Banking & Risk Management

Investigation of the financial market volatility dynamics Benchmarking Option Pricing Models Why Using Commodity Futures & Options? How does the use of derivatives influence the risk adjusted cost of capital? Pricing of Microloans. Social, Sustainable or Profitable Measuring Financial Inclusion. A New Index. Loan syndication and Geography Cost efficiency of sustainable MFI's

Name Research Interests

Dr Stephen

Burnell

Monetary and Banking Theory, Microeconomics, Dynamic GE models. Current

research: banking and monetary policy in New Zealand; the demand for cash

and transactions costs, optimal fiscal policy; and telecommunications and

interconnections agreements.

Dr Brandon Corporate Governance, Institutional Investor monitoring; CEO Incentives and

Chen Compensation; Board Composition.

Dr Toby

Daglish

Derivatives, Credit Risk, Fixed Income Securities, Financial Econometrics,

Portfolio Theory.

Prof Graeme

Guthrie

Applications of real options analysis. Corporate finance, including capital

budgeting, hedging behaviour. Financial economics. Industrial organization and

regulation. Urban economics and real estate markets.

Dr Hai Lin Fixed-income Securities, Asset Pricing, Market Microstructure.

Dr Michael

Keefe IPOs, Capital Structure Information and Market Efficiency.

Dr

Mohammed

Khaled

Demand Systems, Economies of Scale and Scope, Production and Cost

Frontiers, Stock-market Efficiency Tests, Trends in Stock Prices and Returns.

Assoc. Prof

Martin Lally

Cost of Capital and Valuation, with a particular interest in the implications of

taxes.

Ms Dawn

Lorimer

Bank and Corporate Treasury and Financial Risk Management: Treasury and

Banking Education.

Dr John

Randal

Stock Price Modeling, Derivative Pricing, Financial Time Series Anaylsis. Current

research: the application of robust statistics to financial data, in particular for

volatility estimation, and analysis of the leverage effect.

Dr Leigh

Roberts

Financial Mathematics, Risk Management and Insurance. Combinatorics; Jack

Polynominals and Zonal Polynominals.

"Size,leverage and stock returns: evidence from pakistan" (2012) International Journal of Academic Research Vol:4(1) pp:24-32 (Journal)

"Illiquidity premium and stylized returns" (2011) iup journal of financial economics Vol:IX pp:41-52 (Journal)

Size and value premium in Pakistani equity market" (2011) African Journal of Business Management Vol:5(16) pp:6747-6755 (Journal) 

"Casual and dynamic linkage of stock markets" (2011) African Journal of Business Management Vol:5(19) pp:7802-7877 (Journal) 

) Zulfiqar Ali Shah, Arshad Hassan, “Testing Week Form of Efficiency in an Emerging Market” Business Review Cambridge, December 2007, 271-281, Vol-9. 9) Zulfiqar Ali Shah, Arshad Hassan, “Impact of Macro Economic Announcements on Stock Prices”, Business review Cambridge, December 2007, 281- 290, Vol-9 Working Capital Management and the Profitability of the Manufacturing Sector.

Trends and Determinants of Dividend Policy: Evidence from Pakistani Panel Data

Role of the Futures Market on the Volatility and Price Discovery of the Spot MarketSafiullah Khan

 Stock Return Volatility in Emerging Equity Market (KSE): The Relative Effects of Country and Global FactorsMuhammad Faisal Rizwan Performance Evaluation of Mutual Funds in PakistanMuhammad Amir Shah

Dr. Syed

Zulfiqar Ali

Shah, 

Assistant

Professor,

FMS, IIU

Impact of Leverage on

Performance of Firms, Evidence

from Pakistan

The International Business,

Finance & Economics

Research Conference in

USA on 16-19.6.2011

HEC 2011 273,790.00

Dr. Syed

Zulfiqar Ali

Shah, 

AP, FMS, IIUI

Ownership Structure & Earnings Managmeent: Evidence from Pakistan 

World Business & Economics Research Conference 2011 on 12-13.12.2011 at New Zealand

HEC 2011 189,175.00

Ms.

Nousheen

Tariq

Bhutta, 

PhD Scholar, FMS

Corporate Entrepreneurship and Agancy Cost: An Empiricial Study from Pakistani Stock Market 

2011 academy of management annual meeting in USA on 12-16.8.2011

HEC 2011 234,190.00

Dr. Zaheer

Abbas, 

AP, FMS, IIUI

Theoretical & Modeling Implications of Exchange Rate Approaches

Eurasia Business & Economic Society EBES 2012 on 24-26.5.2012 at Turkey

HEC 2012 166,556.00

Mr. M. Faisal

Rizwan, 

Assistant Professor, FMS, IIU

Economic Uncertainty and Corporate Cash Holding Behavior Evidence from Pakistan Corporate Sector 

International symposium on Entrepreneurship and Innovation on 23-25.05.2012 at Italy

HEC 2012 232,116.00

Syed Naif

Amjad 

Assistant Professor, FMS, IIU

How has the Global Financial Crisis Impacted the Educational Sector: A Case Study in Financial Engineering of Dubai from 2007-2010

World Universities Forum January 10-11, 2013 

HEC 2012 241,183.00

Dr. Syed

Zulfiqar Ali

Shah, 

AP, FMS, IIUI

Co-integration and Causality Analysis of Dynamic Linkages Between Gross Domestic Product and Household Final Consumption

3rd International Conference on Business, Economics and Tourism Management CBETM

HEC 2012 179,392.00

This is very latest n interesting research about all 8 bloodGroup...:A(+) : good leadership:A(-) : hard working:B(+) : can give up (scarifies) for others:B(-) : n0n flexible , selfish n sadistic:0(+) : sharp minded,very difficult to understand:0(-) : Narrow minded:

AB(+) : Born to help:AB(-) : Intelligent !

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