(listed by publication year)
[1] “Transient institutional ownership, costly external finance, and corporate cash holdings” 2024 [with Hyun Joong Im, Heungju Park, and Robert Faff] Journal of Business, Finance and Accounting, forthcoming [ABDC: A*, ABS: 3].
[2] “The bright side of common ownerships: Evidence from bank transparency” 2024 [with Haerang Park, Konstantinos Stathopoulos and Alex Marwick] The British Accounting Review [ABDC: A*, ABS: 3].
[3] “The beneficial effect of common ownerships: Evidence from bank liquidity creation” 2024 [with Chen Zheng and Joye Khoo] Journal of Banking and Finance, 163[June], 107172 [ABDC: A*, ABS: 3].
[4] “Fintech adoption in banks and their liquidity creation” 2024 [with Zhuochen Wu, and Chen Zheng] The British Accounting Review, 101322 [ABDC: A*, ABS: 3]
[5] “Institutional investor horizon and bank transparency” 2023 [with Carlos Fernandez Mendez, Gerald Lobo, and Mamiza Haq] Journal of Business, Finance and Accounting, 55[5-6], 1378–1407 [ABDC: A*, ABS: 3].
[6] “CEO pay gaps and bank risk-taking” 2023 [with Jacob Morgan, and Mamiza Haq] European Accounting Review, 32[4], 935–964 [ABDC: A*, ABS: 3*].
[7] “Institutional investor horizon and bank risk-taking” 2021 [with Robert Faff, Mamiza Haq and Trent Seymour] Journal of Corporate Finance, 66[101794], 1–22 [ABDC: A*, ABS: 4].
[8] “Do external labour market incentives constrain bad news hoarding? The CEO’s industry tournament and crash risk reduction” 2020 [with Hasibul Chowdhury, Allan Hodgson] Journal of Corporate Finance, 65[101774], 1–25 [ABDC: A*, ABS: 4]
[9] “Does board structure in banks really affect their performance?” 2013 [with Robert Faff], Journal of Banking and Finance, 37[5], 1573–1589. [ABDC: A*, ABS: 3]
[10] “Endogenously structured boards of directors in banks” 2010 [with Michael Skully], Journal of Banking and Finance, 34[7], 1590–1606. [ABDC: A*, ABS: 3]
[11] “Strong boards, CEO power and bank risk-taking” 2009, Journal of Banking and Finance, 33[7], 1340–1350. [ABDC: A*, ABS: 3]
[QLT. AS PER ABS OF UK AND ABDC OF AUSTRALIA]
ABS Association of Business School; ABDC Australian Business Dean Council
[1] “Do women directors impact the cost of bank financing? Evidence from Australia” 2024 [with Carlos Fernández Méndez, and Robert B. Durand] Spanish Accounting Review (Revista de Contabilidad), 27[1], 110–129. [ABDC: B, ABS: 1]
[2] “The valuation impact of gender quotas in the boardroom: Evidence from the European markets” 2023 [with Carlos Fernández Méndez] Finance Research Letters, 54(103699), 1–20. [ABDC: A, ABS: 3].
o “How board gender quotas affect stock prices” The CLS Blue Sky Blog by Columbia Law School, December 1 2022.
[3] “The past is never dead: Famine-CEOs and corporate social performance” 2023 [with Xinwei Fang, Tianpei Luo, Joye Khoo, and Hongjian Wang] Global Finance Journal, 56(100826), 1–23 [ABDC: A, ABS: 2]
[4] “Female directors, audit effort and financial reporting quality” 2023 [with Carlos Fernández-Méndez] Spanish Journal of Finance and Accounting (Revista Española de Financiación y Contabilidad), 52[1], 125–166. [ABDC: B, ABS: 1]
[5] “CEO pay and family firm heterogeneity: A behavioural agency model perspective” 2021 [with Carlos Fernández-Méndez] Business Research Quarterly, 28, 1–20 [ABDC: B, ABS: 2]
[6] “Environmental stocks, CEO health risk and COVID-19” 2022 [with Carlos Fernández-Méndez] Research in International Business and Finance, 59(101509), 1–14 [ABDC: B, ABS: 2]
[7] “The impact of voluntary capital adequacy disclosure on bank lending and liquidity creation” 2021 [with Natalya Zelenyuk and Robert Faff] Accounting and Finance, 61[3], 3915–3935. [ABDC: A, ABS: 2]
o Recipient of 2015 SIRCA Best Paper Award from the 28th AFBC Conference UNSW.
[8] “Size-conditioned mandatory capital adequacy disclosure and bank intermediation” 2020 [with Natalya Zelenyuk, and Robert Faff] Accounting and Finance, 60[4], 4387–4417. [ABDC: A, ABS: 2]
[9] “New evidence on national culture and bank leverage” 2018 [with Mamiza Haq, Daniel Hu, and Robert Faff] Pacific-Basin Finance Journal, 50[1], 41–64. [ABDC: A, ABS: 2]
[10] “How do ‘busy’ and ‘overlap’ directors relate to CEO pay structure and incentives?” 2019 [with Peh Hwa Wong and Karen Benson] Accounting and Finance, 59[2], 1341–1382. [ABDC: A. ABS: 2]
[11] “Monitoring capabilities of busy and overlap directors: Evidence from Australia” 2015 [with Carlos Fernández Méndez and Rubén Arrondo García], Pacific-Basin Finance Journal, 35[Part A], 444–469. [ABDC: A, ABS: 2]
[12] “Financial constraints and dividend policy” 2015 [with Robert Faff, Carlos Fernández Méndez, and Nicholas Masters], Australian Journal of Management, 31[2], 1–24. [ABDC: A, ABS: 2]
[13] “Does skin in the game help? Bank franchise value, managerial incentives and ‘going for broke” 2016 [with Barry Williams, and Mamiza Haq], Australian Journal of Management, 41[2], 271–298. [ABDC: A, ABS: 2]
[Previously circulated as “Managerial incentives, market power and bank risk-taking”]
[14] “Do private equity target firms exhibit less effectual governance structures?” 2015 [with Peter Clarkson and Andrew Tellam], Australian Journal of Management, 41[2], 244–270. [ABDC: A, ABS: 2]
[15] “The risk implication of Sarbanes-Oxley Act of 2002: An empirical examination of the US financial services industry” 2014 [with Mamiza Haq and Mohammad Hoque], Applied Financial Economics, 24[15], 1005–1015. [ABDC: B, ABS: 2]
[16] “Competitive valuation effects of Australian IPOs” 2012 [with Robert Faff and Andrew McGilvery], International Review of Financial Analysis, 24[3], 74–83. [ABDC: A, ABS: 3]
[17] “Efficiency of micro-finance institutions: a data envelopment analysis” 2010 [with Mamiza Haq and Michael Skully], Asia-Pacific Financial Markets, 17[1], 63–97. [ABDC: C, ABS: 2]
[18] “Reforms in Thai bank governance: the aftermath of the Asian financial crisis” 2008 [with Michael Skully and Jayasinghe Wickramanayake], International Review of Financial Analysis, 17[2], 345–362. [ABDC: A, ABS: 3]
[19] “Board size, independence and performance: an analysis of Thai banks” 2007 [with Michael Skully and Jaysinghe Wickramanayake], Asia-Pacific Financial Markets, 14[3], 211–227. [ABDC: C, ABS: 2]
[20] “Regulation of microfinance institutions in Asia: a comparative analysis” 2008 [with Mamiza Haq and Mohammad Hoque], International Review of Business Research Papers, 4[4]. 421–450. [ABDC: C, ABS: NA]
[21] “Monitoring by busy and overlap directors: an examination of executive remuneration and financial reporting quality” 2016 [with Carlos Fernández Méndez and Rubén Arrondo García], Spanish Journal of Finance and Accounting, 46[1], 28–62. [ABDC: B, ABS: 1]
[1] “Thriving in Crisis: The power of managerial ability during COVID-19” 2024 [with Ella Gorringe and Chen Zheng]
[2] “Measuring bank-level uncertainties using text mining” 2024 [with Woahid Murad, Robert Durand, and Chen Zheng]
[3] Overconfident bank CEOs: Risk amplification amid economic uncertainty” 2024 [with Kwabena Aboah Addo and Steven Ongena]
[4] "Mandated board gender diversity and ESG performance: Evidence from the EU “women on boards” directive” 2024 [Carlos Fernandez Mendez]
[5] “Long-term institutional shareholdings and cost of capital” 2021 [with Anis Samet]
[6] “Banks and financial crises: Market valuation of the Nobel Prize in Economic Science 2022” 2024 [with Carlos Fernandez Mendez, and Victor Gonzalez]
[7] “Pay gap matters: Evidence from bank liquidity creation” 2024 [with Chen Zheng, Mamiza Haq, Adrian Cheung]
[8] “Clouded horizons: Unravelling the impact of haze on labor investment efficiency in China” 2024 [with Xinwei Fang, Tianpei Luo, and Joye Khoo]
[9] “Does managerial slack reduce investment efficiency? Evidence from a quasi-natural experiment in China” 2024 [with Jingru Wang, Xinwei Fang, Tianpei Luo, and Joye Khoo]
[10] “Making sense of shareholders’ say-on-pay vote” 2017 [with Carlos Fernández Méndez]
o Recipient of 2016 CNMV Best Paper on Regulation from XXIV Spanish Finance Forum
[11] “Women on boards: Not so risky business” 2020 [with Terrance Fitzsimmons, Victor Callan, and Carlos Fernández Méndez]
The purpose of my research is to foster a resilient financial system to benefit the organisations, economy, society, and environment. My research objective is compatible/consistent with United Nations 11 out of 17 Sustainable Development Goals [see footnote]. To achieve these goals, my research focuses on three specific theme of bank governance:
(1) the optimal organization of bank board structures, [e.g., the bankrupt Long-term Capital Management in 1998 included two Nobel Laureates Myron Scholes and Robert Merton in their board]
(2) the design of executive compensation packages within banks, [e.g., compensation encourages excessive risk-taking leading to financial crisis] and
(3) the compatibility of institutional shareholder incentives with financial stability.
Through this research, I seek to gain a deeper understanding of the factors that contribute to a strong and stable financial system, and to identify actionable recommendations to address the pressing challenges such as-
• transitioning to a net-zero emissions economy by promoting climate actions
• leveraging disruptive technologies like digital coins, blockchain, tokenisation of assets
• combating the growing cybersecurity risk by being more cyber resilient
[footnote] Quality education (4), Gender equality (5), Affordable and clean energy (7), Decent work and economic development (8), Industry, innovation, and infrastructure (9), Reduced inequality (10), Sustainable cities and communities (11), Responsible consumption and production (12), Peace, Justice and strong institutions (16), and Partnership for the goals (17).