Research Interests
Financial Economics, Financial intermediation,
Risk Management, Empirical Banking, Corporate Finance,
Macroeconomics, Applied Economics.
Selected Publications
"Green Innovation Optimization for Climate Change ESG Business Readiness: Role of Generative AI in BRICS Countries", 2025, European Financial Management, (with N. Arshed, M. De Sisto, M. Munir, S. Ul-Durar).
Published version: link.
"‘Crypto president’: Do narrative political signals drive cryptocurrency returns?", 2025, Finance Research Letters, (with S. Ben Jabeur, Z. Dhifaoui, & H. Ballouk).
Published version: link.
"Green Deal and financing sustainable transport in Europe: A target costing analysis", 2025, Transport Policy, (with E. Bark, G. Prause, & S. Ul-Durar).
Published version: link.
"Do Global COVOL and Geopolitical Risks Affect Clean Energy Prices? Evidence from Explainable Artificial Intelligence Models", 2024, Energy Economics, (with S. Ben Jabeur & O. Cepni).
Published version: link.
"Transportation resilience under Covid-19 uncertainty: a traffic severity analysis", 2024, Transportation Research Part A: Policy and Practice, (with Q. Peng, L. Wu, W. Liu, R. Kou, & K. Liu).
Published version: link.
"FinTech and economic readiness: institutional navigation amid climate risks", 2024, Research in International Business and Finance, (with S. Ul-Durar; N. Arshed; S. Naveed & B. Zhang).
Published version: link.
"Environmental transition dynamics under external conflict risk: New evidence from European countries", 2024, Journal of Cleaner Production, (with S. Ben Jabeur; K. Si Mohammed & W. Ben Arfi).
Published version: link.
"Natural resources governance and conflicts: Retrospective analysis", 2023, Resources Policy, (with A.F. Aysan, Y., Ul-Durar, & S. Kayani).
Published version: link.
"Borrower- and lender-based macroprudential policies: what works best against bank systemic risk?", 2022, Journal of International Financial Markets, Institutions and Money, (with N. Apergis and A.F. Aysan).
Summary | Manuscript: link. Published version: link.
Also available as a short article in LSE Business Review.
“Internationalization, foreign complexity and systemic risk: evidence from European banks”, 2021, Journal of Financial Stability (with A. Nyola-Pamen).
Summary | Manuscript: link, Published version: link.
“How do institutional settings condition the effect of macroprudential policies on bank systemic risk?”, 2021, Economics Letters (with N. Apergis and A.F. Aysan).
Summary | Manuscript: link, Published version: link.
Also available as a short article LSE Business Review.
“Assessing the impact of market logic and long-term strategic plans of top management in share buyback decisions”, 2021, Managerial Finance (with I. Demirag and T. Kungwala).
Summary | Manuscript: link, Published version: link.
“The impact of institutional dimensions on entrepreneurial intentions‒International Evidence”, 2021, Journal of Risk and Financial Management (with S. Durst and W. Gerstlberge).
Summary | Manuscript: link, Published version: link.
“Charter value and bank stability before and after the global financial crisis of 2007–2008”, 2020, Applied Economics (with C. Rugemintwari and A. Tarazi).
Summary | Manuscript: link, Published version: link.
“Spillovers of the US real and financial uncertainty on the Euro area”, 2020, Applied Economic Letters (with R. Nilavongse and A.K. Saha).
Summary | Manuscript: link, Published version: link.
“Does banks’ systemic importance affect their capital structure adjustment process?”, 2019, Journal of Banking and Finance (with O. De Jonghe and A. Tarazi).
Summary | Manuscript: link, Published version: link.
Also available as National Bank of Belgium Paper No 369.
“Democracy and Economic Development: Disentangling the effect of elections and rule of law”, 2019 Baltic Journal of European Studies (with A.R. Ogcem).
Summary | Manuscript: link, Published version: link.
Working Papers & Papers in Progress
"Climate Risk and Bank Capital Structure".
Manuscript: link.
Also available as The Bank of Lithuania Discussion Paper Series No 32/2023.
"Contributions of the Extreme Values Theory in the calculation of Value-at-Risk".
Manuscript: link.
"Bank Boards: Navigating Risk and Regulatory Alignment", (with U. Gilani).
Manuscript: link.
"Ethics of money laundering in banking", (with A. Ainamo and J. Mäkinen).
Manuscript: link.
"Uncertainty and systemic risk".
"Climate Change, Uncertainty and bank lending".
"Do SMEs get Covid19? family-firm risk-taking behavior during the Covid19 pandemic".
Other Publications
"Why did Lehman Brothers fail?", 2023, Economics Observatory.
Published Article: link.
"Choosing the effective macroprudential policy for financial stability", 2022, LSE Business Review.
Published Article: link.
"New Politics for Financing Clean Shipping", 2020, Baltic Rim Economics.
Published Article: link.
"A web-based economic decision tool for abatement investments for shipping industry", 2020, Springer (with T. Robal and G. Prause).
Published Chapter: link.
Personal Grants, Fellowships & Awards
Visiting Researcher Programme (VRP) Grant of Bank of Lithuania (2022), Applied Macroeconomic Research Division of the Economics Department.
JSPS fellowship for invited Professor (2020–2022), Graduate School of Economics and Management, Tohoku University (postposed two consecutive times and cancelled due to Covid19).
Erasmus+ grants for research visits (2019–2020), University of Tuku.
French Government Research Grant for High Level Scientific Stays (2019), Nantes University. Host: Prof. Patrice Guillotreau.
Dora Plus mobility fund Research fellow grant (2019), Durham University. Host: Prof. Abderrahim Taamouti.
ATER followship (2016–2018), Université de Limoges–LAPE.
Europlace Institut of Finance grant award (2016–2018), Institute Luis Bachelier.
Robert Bosch Stiftung fund (2014–2016), Berlin Forum.