Articles

Journal Articles 

'Taxation and bank liquidity creation' Journal of Money Credit & Banking, forthcoming (with Allen Berger, Dimitris Chronopoulos & Anna Sobiech).

‘Does Liquidity Regulation Reduce Bank and Systemic Risk? Evidence from a Quasi-Natural Experiment, Journal of Financial Stability, 2026,  84 101550  (with Amine Tarazi, Foly Ananou, Dimitris Chronopoulos).

'Industry Consolidation and the Performance and Stability of Irish Credit Unions’ Economia Internazionale / International Economics, 2026, forthcoming  (with Donal McKillop, Anna Sobiech & Dimitris Chronopoulos). 

'When Global Energy Costs Travel: Domestic Trade Network Channel to Firm-Level Inflation Expectations' Economia Internazionale / International Economics, 2026, forthcoming  (with Selçuk Gül, Abdullah Kazdal, Muhammed Yılmaz & Dimitris Chronopoulos). 

'Proximity to bank headquarters and branch efficiency: evidence from mortgage lending' Journal of Money Credit & Banking, 2025, 57(6), 1465 - 1508 (with Ivan Lim, Linh Nguyen & Louis Nguyen).

'Implicit guarantees and bank stability: Evidence from a quasi-natural experiment' Journal of International Economics, 2025, 155, 104094 (with Anna Sobiech, Linh Nguyen & Lechandari Kgari).

'State Ownership and Bank Lending: Evidence from Turkish Banking' International Journal of Banking, Accounting and Finance, 2025, 15 (1/2), 5-43   (with Dimitris Chronopoulos & Muhammed Yilmaz).

'Bank Business Model Identification, Evolution and Outcomes: Evidence for South Africa', South African Journal of Economics, 2025, 93, 112-137 (with Anna Sobiech, Linh Nguyen & Lechandari Kgari).

'Deposit Insurance and Earnings Opacity of Credit Unions' British Accounting Review,  2024, 56, article 101486 (with Dimitris Chronopoulos, Linh Nguyen, & Lemonia Rempoutsika)  

'Access to Finance for UK Social Enterprises' European Journal of Finance, 2024, 30 (15), 1757–1784  (with Jose Linares Zegarra).

‘Finance and Intergenerational Mobility: Evidence from US Banking Reforms’ Journal of Economic Behaviour & Organization, 2024, article 106683 (with Dimitris Chronopoulos & Sotiris Kampanelis). 

'Navigating Uncertainty: The Resilience of Third Sector Organizations and Socially-oriented SMEs during the COVID-19 Pandemic' Financial Accountability & Management, 2024, 40(3), 282-307  (with Jose Linares Zegarra).

‘Audit committee oversight and bank financial reporting quality’  Journal of Business Finance & Accounting, 2024, 51, 657–687 (with Dimitris Chronopoulos & Lemonia Rempoutsika).

‘Competition and bank dividends’  Journal of International Money & Finance, 2023, 137, article 102898 (with Dimitris Chronopoulos, Edie Johari, Bert Scholtens, Anna Sobiech & Muhammed Yilmaz)

‘Who consumes the credit union tax subsidies?’ Journal of Financial Stability, 2023, 69, article 101176 (with John Goddard & Donal McKillop)

‘Stakeholder orientation and bank payout policy: evidence from US constituency statutes' British Journal of Management, 2023, 34(3), 1440-1458 (with Dimitris Chronopoulos & Muhammed Yilmaz). YouTube discussion at: https://youtu.be/485ctxJIfsM.

‘Organizational Culture, competition and bank loan loss provisioning’ European Journal of Finance, 2023, 29(4), 393-418 (with Hiep Luu & Linh Nguyen).

‘Payouts and Future Bank Profitability: The Role of Capital Distribution Plans’  Review of Corporate Finance, 2023, 3(3), 361-387 (with Edie Johari, Dimitris Chronopoulos & Anna Sobiech).

‘Regulatory Oversight and Bank Risk Journal of Financial Stability, 2023, 64, article 101105 (with Dimitris Chronopoulos & Muhammed Yilmaz).

‘Innovation and Borrower Discouragement in SMEs' Small Business Economics, 2022, 59, 1489–1517  (with Ross Brown & Jose Linares Zegarra).

‘Deposit Insurance and credit union lending’ Journal of Financial Stability, 2022, 60, article 101003  (with Hiep Luu, Linh Nguyen, Tuan Le, Vinh Vo & Tram-Anh Nguyen).

'Ancient Colonialism and the Economic Geography of the Mediterranean’ Journal of Economic Geography, 2021, 21(5), 717–759 (with Dimitris Chronopoulos, Sotiris Kampanelis & Daniel Oto Peralias). 

'Social Capital and the Business Models of Financial Cooperatives: Evidence from Japanese Shinkin Banks, Financial Accountability & Management, 2021, 37, 460-480 (with Dimitris Chronopoulos & Anna Sobiech). 

‘The Real Effects of Bank Taxation: Evidence for Corporate Financing and Investment' Journal of Corporate Finance, 2021, 69, article 101989  (with Dimitris Chronopoulos & Anna Sobiech).

‘Liquidity Regulation and  Lending' Journal of Corporate Finance, 2021, 69, article 101997  (with Foly Ananou, Dimitris Chronopoulos & Amine Tarazi).    

'Deposit Insurance and Bank Dividend Policy' Journal of Financial Stability, 2020, 48, article 100745 (with Dimitris Chronopoulos, Edie Johari, Bert Scholtens & Anna Sobiech). 

‘Banks and the Real Economy: An Assessment of the Research’ Journal of Corporate Finance, 2020, 62, article 101513 (with Allen Berger & Phil Molyneux). 

‘How does Credit Supply React to a Natural Disaster? Evidence from the Indian Ocean Tsunami’ European Journal of Finance, 2020, 26, 802-819 (with Linh Nguyen).

‘Cooperative Financial Institutions: A Review of the Literature’ International Review of Financial Analysis, 2020, 71, article 101520 (with Declan French, Donal McKillop, Barry Quinn & Anna Sobiech).

'Consumer Spending Responses to the Covid-19 Pandemic: An Assessment of Great Britain’ Covid Economics, 2020, 34, 145-186 (with Dimitris Chronopoulos & Marcel Lukas). 

'Financial Literacy and Responsible Finance in the FinTech era: Capabilities and Challenges', European Journal of Finance, 2020, 26, 297-301 (with Georgios Panos).

‘The (Potential) Impact of Brexit on UK SMEs: Regional Evidence and Public Policy Implications’ Regional Studies, 2019, 53, 761-770 (with Ross Brown & Jose Linares Zegarra).

‘Sticking it on Plastic: The Spatial Dynamics of Credit Card Finance in UK Small and Medium Sized Enterprises’ Regional Studies, 2019, 53, 630–643 (with Ross Brown & Jose Linares Zegarra).

‘The Australian Bank Levy: Do Shareholders Pay?’ Finance Research Letters, 2019, 28, 412-415 (with Dimitris Chronopoulos & Anna Sobiech).

‘The Size and Growth of Microfinance Institutions’ with British Accounting Review, 2018, 50, 199-213 (with Jose Linares Zegarra).

‘Contemporary Issues in Banking', Editorial, British Accounting Review, 2017, 49, 117-121 (with Phil Molyneux).

‘Integration, Productivity and Technological Spillovers: Evidence for Eurozone Banking Industries’ European Journal of Operational Research, 2016, 255, 971-983 (with Barbara Casu, Alessandra Ferrari & Claudia Girardone). 

‘Earnout Financing in Mergers and Acquisitions in the US Financial Services Industry’ International Review of Financial Analysis, 2016, 47, 119-132. (with Leonidas Barbopoulos & Phil Molyneux).

‘Regulatory Change and Capital Adjustment of Cooperative Financial Institutions’  Journal of Financial Services Research, 2016, 50, 29-55 (with Donal McKillop & John Goddard). 

‘Credit Unions as Cooperative Institutions: Distinctiveness, Performance and Prospects’ Social and Environmental Accounting Journal, 2015, 35, 96-112 (with Donal McKillop).

‘Does Debt Affect Health? Cross Country Evidence on the Debt-Health Nexus’ Social Science & Medicine, 2015, 130, 21-28 (with Maya Clayton & Jose Linares Zegarra).

‘Dynamics of US Bank Profitability’ European Journal of Finance, 2015, 21, 426-443 (with Fiona McMillan, Hong Liu & Dimitris Chronopoulos).

‘Emerging Issues in Financial Institutions and Markets, European Journal of Finance, 2014, 20,847-849 (with Barbara Casu & Daniella Fabbri).

‘Credit Card Interest Rates and Risk: New Evidence from US Survey Data’ European Journal of Finance, 2014, 20, 892-914 (with Jose Linares-Zegarra).

‘Comment on Banks’ Liquidity and the Cost of Liquidity to Corporations’, Journal of Money, Credit & Banking, 2014, 46, 47-52.

‘The Size Distribution of US Banks and Credit Unions’ International Journal of the Economics of Business, 2014, 21, 139-156 (with John Goddard, Hong Liu & Donal McKillop).

‘US Credit Unions: Survival, Consolidation and Growth’ Economic Inquiry, 2014, 52, 304-319 (with Donal McKillop & John Goddard). 

‘Co-operative Bank Efficiency in Japan: A Parametric Distance Function Analysis’ European Journal of Finance, 2014, 20, 291-317 (with Colin Glass, Donal McKillop & Barry Quinn).

'Contemporary Issues in Financial Institutions and Markets', Editorial, European Journal of Finance, 2013, 19, 811-814 (with Claudia Girardone & Philip Hamill).

‘Exchange Rate Risk and the Equity Performance of Financial Intermediaries: Evidence from an International Sample’ International Review of Financial Analysis, 2013, 29, 271-282 (with Dimitris Gounopoulos, Phil Molyneux, Sotiris Staikouras & Henry Zhaogang). 

‘Do Bank Profits Converge?’ European Financial Management, 2013, 19, 345-65 (with Phil Molyneux, John Goddard & Hong Liu). 

‘Competition and Stability in European Banking: A Regional Analysis’ Manchester School, 2013, 81, 176-201 (with Hong Liu & Phil Molyneux).

‘Competition and Risk in Japanese Banking’, European Journal of Finance, 2013, 19, 1-18 (with Hong Liu).

‘Financial Sector Performance and Risk’, Editorial and introduction, Journal of Economic Behaviour and Organization, 2013, 85, 118-122 (with Phil Molyneux & Shahid Ebrahim).

‘Economic conditions and Risk Taking in European Banking’, Papeles de Economia Española (Spanish Economic Papers), 2012, 130, 1-13 (with Phil Molyneux).

‘Contemporary Issues in Financial Institutions and Markets’, Editorial, European Journal of Finance, 2011, 17, 765-768 (with Barbara Casu & David McMillan).

‘The Persistence of Bank Profit’ Journal of Banking & Finance, 2011, 35, 2881-2890 (with Phil Molyneux, John Goddard & Hong Liu).

‘Credit Unions: A Theoretical and Empirical Overview’ with Financial Markets, Institutions & Instruments, 2011, 20, 79-123 (with Donal McKillop).

‘Credit unions in Great Britain: Recent Trends and Current Prospects’, Public Money and Management, 2011, 31, 35-42 (with Donal McKillop & Ann Marie Ward).

‘Credit Unions in U.K and Northern Ireland’ Cooperazione di Credito, 2010, 202, 69-84 (with Donal McKillop & Ann Marie Ward).

‘The Profitability of Banks in Japan’ Applied Financial Economics, 2010, 20, 1851-1866 (with Hong Liu).

‘Emerging Themes in Banking: A Review of Recent Literature and Directions for Future Research’ British Accounting Review, 2010, 42, 153-169 (with Barbara Casu, Claudia Girardone & Phil Molyneux). 

‘The Financial Crisis in Europe: Evolution, Policy Responses and lessons for the future’ Journal of Financial Regulation & Compliance, 2009, 17, 362-380 (with John Goddard & Phil Molyneux).

‘Which Credit Unions Are Acquired?’ Journal of Financial Services Research, 2009 36, 231–252 (with Donal McKillop & John Goddard). 

‘Competition in Banking: A Disequilibrium Approach’, Journal of Banking & Finance 2009, 33, 2282-2292 (with John Goddard).

‘Capital Adequacy Ratios and Capital Regulation of US Credit Unions’ Bancaria -Journal of the Italian Bankers Association, 2009, July/August, 43-55 (with Donal McKillop & John Goddard).

‘The Crisis in UK banking: Lessons for Public Policy’, Public Money and Management, 2009, 29, 276-284 (with John Goddard & Phil Molyneux).

‘Racial Discrimination in English Professional Football: Evidence from an Empirical Analysis of Players’ Career Progression’ Cambridge Journal of Economics, 2009, 33, 295-316 (with John Goddard). 

‘Sources of Variation in Company Profitability and Growth’, Journal of Business Research, 2009, 62, 495-508 (with Manouche Tavakoli & John Goddard).

‘The Diversification and Financial Performance of US Credit Unions’ Journal of Banking & Finance, 2008, 32, 1836-1849 (with Donal McKillop & John Goddard).

‘What Drives Performance Differences across Cooperative Financial Institutions? Evidence for US Credit Unions’, Applied Financial Economics, 2008, 18, 879-893 (with John Goddard & Donal McKillop).

‘Dividends, Prices and the Present Value Model: Firm-Level Evidence’, with European Journal of Finance, 2008, 14, 195-210 (with David McMillan & John Goddard). 

‘Measuring Competition in Banking’, Einaudi Institute for Economics and Finance Papers, 2008, 08/08 (with John Goddard).

‘Financial Exclusion: What is it, why does it matter and what’s being done about it?’, Public Management and Policy Association Review, September 2007, 32, 12-13 (with Donal McKillop).

‘Corporate Growth and Profitability in the Long-Run’, Journal of Accounting and Finance, 2007, 5, 19-26 (with David McMillan).

‘Developments in European Banking’, Journal of Banking & Finance, 2007, 31, 1906-1910 (with Phil Molyneux).

‘European Banking: An Overview’, Journal of Banking & Finance, 2007, 31, 1911-1935 (with Phil Molyneux, John Goddard & Manouche Tavakoli).

‘Financial Exclusion’, Public Money and Management, 2007, 27, 9-12 (with Donal McKillop).

‘The Development of Credit unions and their Role in Tackling Financial Exclusion,’ Public Money and Management, 2007, 27, 37-44 (with Ann-Marie Ward & Donal McKillop).

‘Are Football Referees really Biased and Inconsistent? Evidence on the Incidence of Disciplinary Sanction in the English Premier League’, Journal of the Royal Statistical Society, Series A, 2007, 170, 231-250 (with Peter Dawson, Stephen Dobson & John Goddard). 

‘Do Firm Sizes and Profit Rates Converge? Evidence on Gibrat’s Law and the Persistence of Profits in the Long Run’, Applied Economics, 2006, 38, 267-78 (with David McMillan & John Goddard).

‘Dividend Smoothing versus Dividend Signalling: Evidence from UK firms’, Managerial Finance, 2006, 32, 493 - 504 (with David McMillan & John Goddard).

‘Determinants of Profitability in European Manufacturing and Services: Evidence from a Dynamic Panel Model’, Applied Financial Economics, 2005, 15, 1269-1282 (with Manouche Tavakoli & John Goddard). 

‘US Credit Unions: An Empirical Investigation of Size, Age and Growth’, Annals of Public & Cooperative Economics, 2005, 76, 375-406 (with John Goddard).

‘Co-operative Financial Institutions: An Introduction’, Managerial Finance, 2005, 31, 1-5 (with Donal McKillop).

‘Panel Unit Root Tests of the Size and Growth of Large US Credit Unions’, Managerial Finance, 2005, 31, 36-49 (with John Goddard & Donal McKillop).

‘Current Issues in Financial Exclusion’, Public Management and Policy Association Review, June 2005, 30, 13-15 (with Donal McKillop).

‘Dynamics of Growth and Profitability in Banking’, Journal of Money, Credit and Banking, 2004, 36, 6, 1069-1090 (with Phil Molyneux & John Goddard).

‘The Profitability of European Banks: A Cross-Sectional and Dynamic Panel Analysis’, Manchester School, 2004, 72, 3, 363-381 (with Phil Molyneux & John Goddard).

‘Credit unions in Great Britain: A time for change’, Public Money and Management, 2003, 23, 119-123 (with Donal McKillop). 

‘Panel tests of Gibrat’s Law for Japanese manufacturing’, International Journal of Industrial Organization, 2002, 20, 415-433 (with John Goddard & Peter Blandon). 

‘The Growth of US Credit Unions’, Journal of Banking & Finance, 2002, 22, 2327-2356 (with Donal McKillop & John Goddard). 

‘Cross Sectional and Panel Tests of Convergence’, Economics Letters, 2001, 70, 327-333 (with John Goddard).

‘League Structure and the Demand for Attendance in English Rugby League’, International Review of Applied Economics, 2001, 15, 335-351 (with Stephen Dobson & John Goddard). 

‘Policy Choices for Credit Unions’, Social Policy Focus, 2001, 1, 9-10 (with Huw Davies).

‘The Size and Growth of Banks: Evidence from Four European Countries’, Applied Economics, 2000, 32, 9, 1101-1109 (with Jon Williams).

‘The Size and Growth of UK Manufacturing and Service Firms’, Service Industries Journal, 2000, 20, 2, 25-38 (with Jeanne Morris).

‘The Persistence of Profit: A New Empirical Interpretation’, International Journal of Industrial Organization, 1999, 17, 663-687 (with John Goddard).

‘Persistence of Profits for UK Manufacturing and Service Sector Firms’, Service Industries Journal, 1996, 16, 105-117 (with John Goddard).