Selected Publications

  • With K. Kassimatis, An empirical analysis of marginal conditional stochastic dominance, JOURNAL OF BANKING AND FINANCE (forthcoming).
  • With K. Kassimatis, “An alternative measure of the ‘world market portfolio’: determinants, efficiency, and information content”, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, (forthcoming).
  • With O. Jokung and K. Kassimatis, “Making inefficient market indices efficient”, EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, (forthcoming 2011, Vol. 209, pp. 83-93).
  • With A. Judge, “Foreign Currency Derivatives versus Foreign Currency Debt and the Hedging Premium”, EUROPEAN FINANCIAL MANAGEMENT, Vol 15, n° 3, (June 2009) pp. 606-642.
  • With A. Judge, “The Determinants of Foreign Currency Hedging: Does Foreign Currency Debt Induce a Bias?” EUROPEAN FINANCIAL MANAGEMENT, Vol 14, n°3, (June 2008), pp 445-469.
  • With Joshy Easaw, “Optimal Access Pricing for Natural Monopoly Networks when Costs are Sunk and Revenues are Uncertain”, EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, Vol 178, n°2, (2007), pp 595-602.
  • "Pricing the cost of expropriation risk", REVIEW OF INTERNATIONAL ECONOMICS, vol. 11, (May 2003) pp. 412-422.
  • With O. Jokung, “Asset proportions, stochastic dominance and the 50% rule”, MANAGEMENT SCIENCE, (December, 1999) pp.1724-1737.
  • With C. Adcock, "Technical comments on the CAPM", EUROPEAN JOURNAL OF FINANCE, (vol. 4, n° 3, 1999) pp. 213-224.
  • With O. Jokung, "Risk aversion, wealth and international capital flows", REVIEW OF INTERNATIONAL ECONOMICS, 6, n° 3, (1998)
  • "Valuing political risk as an insurance policy", JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 16, (1997) pp. 477-490. (A* Aus, 3* CNRS, 3* ABS)

All Publications:

Refereed Journal Articles:

1) With K. Kassimatis, An empirical analysis of marginal conditional stochastic dominance, JOURNAL OF BANKING AND FINANCE (forthcoming).

2) With K. Kassimatis, “An alternative measure of the ‘world market portfolio’: determinants, efficiency, and information content”, JOURNAL OF INTERNATIONAL MONEY AND FINANCE, (forthcoming) (3*ABS, 3*CNRS, A*Aus).

3) With Y. Belghitar and K. Kassimatis, “The prudential effect of strategic institutional ownership on stock performance”, INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS, (forthcoming) (3*ABS).

4) With Y. Belghitar, “The Effect of CEO Risk Appetite on Firm Volatility: An Empirical Analysis of Financial Firms, INTERNATIONAL JOURNAL OF THE BUSINESS OF ECONOMICS, (forthcoming 2011) (3* ABS).

5) With O. Jokung and K. Kassimatis, “Making inefficient market indices efficient”, EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, (forthcoming 2011, Vol. 209, pp. 83-93) (4* CNRS, 3* ABS).

6) With S. Mefteh, “Asymmetric foreign currency exposures and derivatives use: Evidence from France, JOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT AND ACCOUNTING, (forthcoming, Vol 22, n°1) (2*CNRS, 2* ABS).

7) With S. Mefteh, “Foreign currency exposure and derivatives use: Evidence from France from 2002 to 2005”, BANKERS, MARKETS AND INVESTORS, vol 104, (2010) pp 21-29 (2* CNRS)

8) With S. Mefteh, “Foreign currency Derivatives Use, Firm Value and the Effect of the Exposure Profile: Evidence from France, INTERNATIONAL JOURNAL OF BUSINESS, Vol 15, n°2, (C Aus, 2* CNRS))

9) With U. Broll and E. Lukas, “Hedging mean-reverting commodities” IMA JOURNAL OF MANAGEMENT MATHEMATICS, Vol 21 (2010), pp. 19-26. (2 ABS)

10) With K. Kassimatis, “The Effect of Country Default Risk on Foreign Direct investment”, ECONOMIA INTERNAZIONALE, Vol. LXII, n° 3, (August 2009), pp. 341-361. (C Aus)

11) With M. Gadad and P. Rousseau, "Investor Valuation of the Abandonment Option: Empirical Evidence from UK Divestitures 1985-1991”, MULTINATIONAL FINANCE JOURNAL, (forthcoming). (A Aus, 2 ABS)

12) With R. Tunaru, “Modelling Stochastic Political Risk for Capital Budgeting: Currency Crises”, BANQUE ET MARCHES, (July-August 2008), pp 45-56. (2* CNRS)

13) With A. Judge, “Foreign Currency Derivatives versus Foreign Currency Debt and the Hedging Premium”, EUROPEAN FINANCIAL MANAGEMENT, Vol 15, n° 3, (June 2009) pp. 606-642. (A Aus, 3 ABS, 2*CNRS)

14) With A. Zenaidi and M. Baccar, “Capital market integration, currency crises and exchange rate regimes”, INTERNATIONAL JOURNAL OF FINANCE AND ECONOMICS, Vol 13, n°3, (2008), pp 280-306. (B Aus, 2 ABS, 2* CNRS)

15) With A. Judge, “The Determinants of Foreign Currency Hedging: Does Foreign Currency Debt Induce a Bias?” EUROPEAN FINANCIAL MANAGEMENT, Vol 14, n°3, (June 2008), pp 445-469. (A Aus, 3 ABS, 2*CNRS)

16) With O. Masood and R. Tunaru, “The effect of political events on the Pakistan Stock Exchange 1947-2001”, INVESTMENT MANAGEMENT AND FINANCIAL INNOVATIONS, Vol 5, n°3, (2008). (B Aus, 1 ABS))

17) With G. Lakshmi, “The determinants of sovereign Eurobond spreads”, GLOBAL FINANCE JOURNAL, Vol. 18, n°1, (2007) pp. 124-142. (B Aus, 2 ABS)

18) With Y. Belghitar and A. Judge, “The value effects of foreign currency and interest rate hedging: the UK evidence”, INTERNATIONAL JOURNAL OF BUSINESS, Vol 13, n° 1, (2008). (C Aus, 2* CNRS))

19) With Joshy Easaw, “Optimal Access Pricing for Natural Monopoly Networks when Costs are Sunk and Revenues are Uncertain”, EUROPEAN JOURNAL OF OPERATIONAL RESEARCH, Vol 178, n°2, (2007), pp 595-602. (A Aus, 4* CNRS, 3 ABS)

20) With A. Zenaidi and S. Baccar, “Market valuation of technology stocks before and after the crash”, INTERNATIONAL JOURNAL OF BUSINESS, 12 (2), (2007), pp 209-216. (C Aus, 2* CNRS))

21) With O. Jokung, “The role of population and wealth in international capital flows”, STUDIES IN ECONOMICS AND FINANCE, Vol 23, n°.1, (2006), pp 4-12. (B Aus, 1 ABS)

22) With O. Jokung, “General portfolio rules: Application to multivariate normal distributions”, ICFAI JOURNAL OF FINANCIAL ECONOMICS, Vol 4, n° 3, (2006), pp.7-13.

23) With A. Zenaidi and A. Hachicha, “Trading patterns and prices in the Tunisian Interbank foreign exchange market: evidence from high frequency data”, EURO-MEDITERRANEAN ECONOMICS AND FINANCE REVIEW, Vol 1, n° 1, (2006), pp 97-115.

24) With G. Lakshmi, “Are currency crises anticipated? Evidence from Mexican government guaranteed bonds 1993-1995”, INTERNATIONAL JOURNAL OF FINANCE, Vol 17, n°4, (2005). (C Aus)

25) With A. Judge, “Motives for corporate hedging: evidence from the UK”, RESEARCH IN FINANCIAL ECONOMICS, Vol 1, n° 1, (2005), pp 57-78.

26) With R. Tunaru and H. Viney, “An option pricing framework for the valuation of football players”, REVIEW OF FINANCIAL ECONOMICS, vol 14, no. 3, (2005), pp 281-295. (C Aus, 1 ABS)

27) With K. Giannapoulos and R. Tunaru, “Portfolio selection under VaR constraints”, COMPUTATIONAL MANAGEMENT SCIENCE, Vol 2, (2005), pp 123-138.

28) With K. Kassimatis, “Country financial risk and stock market performance: the case of Latin America”, JOURNAL OF ECONOMICS AND BUSINESS, vol. 56, no. 1, (2004) pp 21-41.

29) With G. Lakshmi, “Sovereign debt and the cost of migration: India 1990-1992”, JOURNAL OF ASIAN ECONOMICS, vol. 15, no.1, January-February, (2004) pp. 111-134.

30) With R. Tunaru and M. Tan, “Cross hedging jet fuel on the Singapore spot market”, INTERNATIONAL JOURNAL OF BANKING AND FINANCE, vol. 1, no 2, (2004).

31) With G. Lakshmi, “War and emerging market default risk: the case of India and the Iraqi invasion of Kuwait”, INTERNATIONAL JOURNAL OF BUSINESS, vol. 8, no. 4, pp.395-408. (2003). (C Aus, 2* CNRS))

32) With R. Tunaru, “Quantification of political risk with multiple dependent sources”, JOURNAL OF ECONOMICS AND FINANCE, vol. 27, no. 2, (summer 2003), pp 125-135. (B Aus, 1 ABS)

33) With G. Mondello, “Water management in France: delegation and market based auto-regulation”, INTERNATIONAL JOURNAL OF PUBLIC ADMINISTRATION, vol. 26, no. 3, (2003) pp 317-328. (2 ABS)

34) With G. Mondello, “Erratum: An Introduction to Water Management”, INTERNATIONAL JOURNAL OF PUBLIC ADMINISTRATION, vol. 26, no. 13, (2003) pp. 1553-1556. (2 ABS)

35) With A. Judge, “Risk management disclosure practices of UK non-financial firms after FRS13”, FINANCE LETTERS, vol. 1, no. 2, (2003). (C Aus)

36) With G. Lakshmi, “Controlling the risk: a case study of the Indian liquidity crisis 1990-92, JOURNAL OF INTERNATIONAL DEVELOPMENT, 14, (2002) pp. 1-14. (B Aus, 2* CNRS, 1 ABS)

37) With R. Tunaru, “Emerging markets: investing with political risk”, MULTINATIONAL FINANCE JOURNAL, vol. 5, no. 3, (2001) pp. 155-173. (A Aus, 2 ABS)

38) "Pricing the cost of expropriation risk", REVIEW OF INTERNATIONAL ECONOMICS, vol. 11, (May 2003) pp. 412-422. (B Aus, 3 ABS, 3* CNRS)

39) With P. Rousseau, “Strategic parameters for capital budgeting when abandonment value is stochastic”, APPLIED FINANCIAL ECONOMICS, 12, (2002) pp 123-130. (C Aus, 2 ABS, 1* CNRS) 36) With M.H. Bouchet and B. Groslambert, "Revisiting the Asian financial crisis: were capital markets caught by surprise?" INTERNATIONAL JOURNAL OF FINANCE, vol. 13, n° 2 (2001). (C Aus)

40) With A. Zenaidi, "The quantification of country risk: effects on the sovereign debt discount", FINANCE INDIA QUARTERLY REVIEW, (September 2001) pp 805-820. (C Aus)

41) With M. Gadad, “The option to divest as a strategic management tool”, CORPORATE FINANCE REVIEW, (november-december 2001) pp 16-20. (C Aus, 1 ABS)

42) With G. Mondello, "Regulating natural monopolies: the case of drinking water in France", WATER RESOURCES UPDATE, issue no. 121, (January 2002), pp 72-78.

43) With G. Mondello, “Water management in France: delegation and irreversibility”, JOURNAL OF APPLIED ECONOMICS, vol. 3, no. 2, (November 2000) pp. 325-352. (B Aus, 2 ABS)

44) "Agency conflict and the signalling snafu in the Mexican peso conflict of 1994", INTERNATIONAL JOURNAL OF PUBLIC ADMINISTRATION, vol. 23, n° 5-8, (2000) pp.837-876. (2 ABS)

45) With G. Mondello, “Resource management and the mayor’s guarantee in French water allocation”, ENVIRONMENTAL AND RESOURCE ECONOMICS, vol. 15, no. 2, (February 2000) pp. 103-113. (A Aus, 3* CNRS, 2 ABS)

46) With O. Jokung, “Asset proportions, stochastic dominance and the 50% rule”, MANAGEMENT SCIENCE, (December, 1999) pp.1724-1737. (A* Aus, 5* CNRS, 4 ABS)

47) With C. Adcock, "Technical comments on the CAPM", EUROPEAN JOURNAL OF FINANCE, (vol. 4, n° 3, 1999) pp. 213-224. (A Aus, 3 ABS)

48) With A. Zenaidi, “Sovereign debt discounts and the unwillingness to pay”, FINANCE, vol. 20, no. 2, (1999) pp.185-199. (3* CNRS, C Aus)

49) “L’effet de réunification sur le risque politique à Hong Kong”, BANQUE ET MARCHES, (July-August 1999) pp 50-55. (2* CNRS)

50) E. Clark and G. Mondello, “Institutional constraints in water management: the French case”, WATER INTERNATIONAL, (vol. 24, n° 3, 1999).

51) "Political risk in Hong Kong and Taiwan: Pricing the China factor", JOURNAL OF ECONOMIC INTEGRATION, 13, n° 2, (1998) pp 278-293. (C Aus, 2* Cnrs)

52) With O. Jokung, "Risk aversion, wealth and international capital flows", REVIEW OF INTERNATIONAL ECONOMICS, 6, n° 3, (1998) pp 507-515. (B Aus, 3 ABS, 3* CNRS)

53) With O. Jokung, "Capital budgeting, political risk and prudence", INTERNATIONAL JOURNAL OF FINANCE, vol. 10, n° 1 (1998) pp 933-943. (C Aus)

54) With G. Mondello, "La gestion préventive des risques et pollutions environmentales: accords volontaires et responsabilité", REVUE D'ECONOMIE INDUSTRIELLE, n° 83, 1er trimestre, (1998) pp.183-196. (2* CNRS)

55) "Valuing political risk as an insurance policy", JOURNAL OF INTERNATIONAL MONEY AND FINANCE, 16, (1997) pp. 477-490. (A* Aus, 3* CNRS, 3 ABS)

56) "Les contrats à terme sur matières premières: Ce que les investisseurs devraient savoir", BANQUE ET MARCHES, ( mars/avril 1996). (2* CNRS)

57) "L'évaluation du risque dans les prêts internationaux: le cas du Mexique en 1994", ECONOMIE INTERNATIONALE, n° 64, (4ème trimestre 1995). (2* CNRS)

58) "A general international market index", INTERNATIONAL JOURNAL OF FINANCE, vol. 7, n° 3, (1995). (C Aus)

59) With P. Rousseau, "Bond duration with uncertain cash flows", JOURNAL OF INTERNATIONAL SECURITIES MARKETS, (Spring, 1991).

60) "Cross border risk analysis: An application of the market value approach", JOURNAL OF INTERNATIONAL SECURITIES MARKETS, (Autumn, 1988).

61) "Fusions et acquisitions: Stratégie et risque transnationaux", EUREPARGNE, n° 23/24, (août-septembre, 1988).

62) "Duration as a risk management tool", JOURNAL OF INTERNATIONAL SECURITIES MARKETS, (Spring, 1988).

63) "Le système monétaire international: liquidités privées et réserves officielles", EUREPARGNE, 8eme année, n° 9, (September 1978). 61) "Le Problème de la mesure des liquidités internationales", EUREPARGNE, 7eme année, n° 12, (December 1977).

PUBLISHED BOOKS

1) Ephraim Clark, CROSS BORDER INVESTMENT RISK, (London: EUROMONEY Publications, 1991).

2) Ephraim Clark, Michel Levasseur and Patrick Rousseau, INTERNATIONAL FINANCE, (London: Chapman & Hall, 1993).

3) Ephraim Clark and Bernard Marois, MANAGING RISK IN INTERNATIONAL BUSINESS: TECHNIQUES AND APPLICATIONS, (London: International Thomson Business Press, June 1996).

4) Ephraim Clark, Bernard Marois and Joelle Cernès, LE MANAGEMENT DES RISQUES INTERNATIONAUX, (Paris: Economica, Spring 2001).

5) Ephraim Clark, Jean Baptiste Lesourd and René Thiéblemont, INTERNATIONAL COMMODITY TRADING: SPOT, FORWARD AND FUTURES MARKETS, (London: John Wiley, 2001).

6) Ephraim Clark, INTERNATIONAL FINANCE, 2nd edition, (London: International Thomson Learning, Spring 2002) and simplified Chinese translation Peking: University of Peking Press, 2002).

7) Ephraim Clark and Dilip Ghosh, ARBITRAGE, HEDGING AND SPECULATION: THE FOREIGN EXCHANGE MARKET, (New York: Praeger, 2004).

8) Michel Bouchet, Ephraim Clark and Bertrand Groslambert, COUNTRY RISK ASSESSMENT, (London: John Wiley, (2003).

REFEREED BOOK CHAPTERS

1) "A national accounting framework for assessing international country creditworthiness", RESEARCH PAPERS IN MANAGEMENT AND BUSINESS, (Paris: ESKA, 1997).

2) With Radu Tunaru, “Les options réelles et des risques politiques multiples dépendents: une comparaison avec le modèle du risque unique”, in GESTION DES RISQUES DANS UN CADRE INTERNATIONAL, edited by Mondher Bellalah, (Paris: Economica, 2000).

3) With Radu Tunaru, “Political Risk in Taiwan: valuing the doubly stochastic China factor”, STUDIES ON GLOBAL FINANCIAL MARKETS edited by Dilip K. Ghosh and Mohamed Ariff, Greenwood Press, (2004).

4) with M. H. Bouchet and B. Groslambert, “Was the Asian crisis really a surprise?”, STUDIES ON GLOBAL FINANCIAL MARKETS (edited by Dilip K. Ghosh and Mohamed Ariff, Greenwood Press, 2004).

5) With G. Lakshmi, “The Market Reaction to Reported Country Risk in India”, Michael H. Stierle and Thomas Birringer (Eds.): ECONOMICS OF TRANSITION: THEORY, EXPERIENCES AND EU ENLARGEMENT; INFER Annual Conference 2001, Verlag für Wissenschaft und Forschung, Berlin 2001.

6) “Strategic capital budgeting: the abandonment option with political risk”, ADVANCES IN FINANCIAL PLANNING AND FORECASTING, vol. 11, (New York: JAI Press, 2003) pp. 113-132.

7) With G. Mondello, "Dynamic uncertainty and the pricing of natural monopolies: the case of urban water management ", FRONTIERS IN WATER RESOURCE ECONOMICS, Natural Resource Management and Policy, (edited by A. Dinar, P. Goetz, and D. Zilberman, Kluwer Academic Publisher, 2005).

8) “Derivative securities for country risk coverage: implied volatility swaps”, GLOBAL RISK ASSESSMENT: ISSUES, CONCEPTS AND APPLICATIONS, Book 5, (Riverside CA: Global Risk Assessments, Inc. 2003).

9) with A. Zenaidi, "Country default risk and the determinants of sovereign debt discounts”, SOVEREIGN RISK AND FINANCIAL CRISES, ed. M. Frenkel, A. Karmann and B. Sholtens, (Berlin: Springer-Verlag, 2004) pp. 29-50.

10) "Modelling and measuring sovereign credit risk", THE BEST OF WILMOTT, (London: John Wiley & Sons, 2004)

11) "Measuring country risk as implied volatility", THE BEST OF WILMOTT, (London: John Wiley & Sons, 2004)

12) "Sovereign debt default risk: quantifying the (un)willingness to pay", THE BEST OF WILMOTT, (London: John Wiley & Sons, 2004).

13) “Foreign direct investment: the incentive to expropriate and the cost of expropriation risk”, ed. Michèle Breton, NUMERICAL METHODS IN FINANCE,(London: Kluwer Academic Publisher 2005).

14) With Y. Belghitar, “Capital Budgeting and Political Risk for Capital Budgeting Valuation: Financial Analysis for Today’s Investment Projects”. Edited by Kent Baker; publisher John Wiley & Sons, 2011.

PUBLISHED ARTICLES IN PROFESSIONAL JOURNALS

1) “Contemporary China: The reunification effect on political risk in Hong Kong”, GARP RISK REVIEW, no. 10, (January/February 2003) pp 24-28.

2) “Sovereign debt default risk: quantifying the (un)willingness to pay”, WILMOTT, (Spring 2003).

3) “Country rulers: Macrometrics for country risk assessment”, GARP RISK REVIEW, no. 8, (September/October 2002) p. 36.

4) “Measuring country risk as implied volatility”, WILMOTT, (Fall 2002).

5) "Les contrats à terme sur les matières premières", MTF HAUTE FINANCE, n° 72, (juillet/août, 1995).

6) "Applying the theory", CAPITAL HORIZONS, (January, 1992).

7) "A market value approach to country allocation", GLOBAL INVESTOR, (April, 1991)

8) "Maximum country debt levels", EUROMONEY, (April, 1991).

9) "Options pricing theory and financial risk analysis", EUROMONEY, (February, 1991).

10) "European integration, mergers, and protectionism", EUROPEAN AFFAIRS, vol. 3, (Autumn, 1989).

11) "The debt crisis: Is there a solution?", INTERNATIONAL CORRESPONDANT BANKER, (September , 1988).

12) "Cross border risk analysis: Ranking by the market value approach", EUROMONEY, (September, 1988).

13) "Spain's role in a pan-European strategy", iCB NEWSLETTER, (August, 1988).

14) "Mergers and acquisitions: The market value approach", iCB NEWSLETTER, (July, 1988).

15) "Chairman's introduction: Strategy and risk in transnational mergers and acquisitions", EUROMONEY INTERNATIONAL MERGERS AND ACQUISITIONS SEMINAR TRANSCRIPTS, (London: Euromoney Publications, 1988).

16) "All credit to efficient portfolios", INTERNATIONAL CORRESPONDANT BANKER, (April 1988).

17) "Country risk analysis in globalized financial markets", THE BUSINESS ECONOMIST, vol. 18, n° 4, (Autumn 1987).

18) "L'analyse du risk-pays des années 70 à la période actuelle", REVUE BANQUE, n° 477, (November, 1987).

19) "Back to the country risk", INTERNATIONAL CORRESPONDANT BANKER, (September 1987).

20) "Chairman's introduction", EUROMONEY COUNTRY RISK SEMINAR TRANSCRIPTS, (London: Euromoney Publications, June 1987).

21) "L'application de l'analyse financière au risque-pays", DOSSIERS DE NORD-SUD EXPORT, n° 108, (September 1986).

Honours and Awards:

Research Grants 2009 – ESRC Research Grant £80,000.

ESRC PEER REVIEW COLLEGE, Appointed March, 2010.

ELECTED LIFETIME MEMBER of the Académie Européenne.

PRESIDENT of the Multinational Finance Society, Elected 2003.

VIVAT FLAMAND, Lille Graduate School of Management, August 22, 2003.

PRESIDENT of International Society for the Intercommunication of New Ideas, 2001-2003.

VICE-PRESIDENT of the International Society for the Intercommunication of New Ideas, 1999-2001.

VICE-PRESIDENT of the International Association of Finance and Banking, 2000-2002 and 2002-2008.

COMMISSION D’EXPERTS: CENTRE UNIVERSITAIRE DE LUXEMBOURG, Luxembourg.

DISTINGUISHED FELLOW, ISINI 2001.

BEST PAPER AWARD for Volume 5, 2001 of the MULTINATIONAL FINANCE JOURNAL, “EMERGING MARKETS: INVESTING WITH POLITICAL RISK”, with R. Tunaru.

BEST PAPER AWARD, “CURRENCY OVERVALUATION AND EXTERNAL DEBT UNSUSTAINABILITY”, with Vincent Dropsy, ISINI 5th International Congress, Mexico, August 1999.

BEST PAPER AWARD, “CAPITAL BUDGETING: A TEST OF THE ABANDONMENT OPTION”, with M. Gadad and P. Rousseau, Multinational Finance Society 7th International Congress, Philadelphia, April, 2000.

BEST PAPER AWARD, “MODELLING POLITICAL RISK WITH A DOUBLY STOCHASTIC POISSON PROCESS”, with R. Tunaru, Eastern Finance Association Conference, Charleston, S.C., April 2001.

SSRN's Top Ten download list for ERN: Other Microeconomics: Asymmetric & Private Information. 05/30/2010. "Asymmetric Foreign Currency Risk Premiums and the Effect of Derivatives Use on Corporate Returns" with Y. Belghitar and S. Mefteh.

SSRN's Top Ten download list for the journal/topics: “ESM: Hypothesis Testing” Recent Hits, 19/06/2009 ERN: Pricing (Topic) Recent Hits 04/072009. Making Inefficient Market Indices Efficient" with O. Jokung and K. Kassimatis.

SSRN's Top Ten download list for the journal/topics: “Managerial Accounting”. 10/01/2009 "Hedging Mean-Reverting Commodities" with U. Broll and E. Lucas.

SSRN's Top Ten download list for the journal/topics: “Derivatives Recent Hits”, August 1, 2003. "Hedging and the Use of Derivatives: Evidence from UK Non-Financial Firms" with A. Judge.

SSRN's Top Ten download list for the journal/topics: "Latin American Economics" Recent Hits, April 11, 2001, EFMA 2001 Lugano Meetings Recent Hits, April 11, 2001 “Macroeconomics” Recent Hits, April 28, 2001, “FEN Meetings” Recent Hits, May 5, 2001 "Country Financial Risk and Stock Market Performance: The Case of Latin America" with K. Kassimatis.

SSRN's Top Ten download list for the journal/topics: “Development Economics” Recent Hits, July 1, 2001, “International Finance” Recent Hits, July 16, 2001. “Emerging Markets: Stock Market Investing with Political Risk” with R. Tunaru.

INVITED SPEAKER, 11th International Congress 2009, CHALLENGES FOR EMERGING COUNTRIES IN THE PRESENT WORLD ECONOMIC CONTEXT, organized by THE ORDRE DES EXPERTS COMPTABLES OF TUNISIA, Karthago, Tunisia, June 25-26, 2009.

INVITED SPEAKER, Business Ethics Colloque, ISC Paris, Paris, France, 8-9 juin 2009.

KEYNOTE SPEAKER, Second International Credit Risk and Rating Conference, Hacettepe University, Ankara, Turkey, May 8-10, 2008.

INVITED SPEAKER, Maison de L’Europe-Institut Supérieur Européenne de Gestion Finance Workshop “La Nouvelle Régulation Financière par les Fonds: Menaces ou Opportunités?”, Paris, France, March 27, 2008.

INVITED SPEAKER The Department of Business Economics at the Technische Universitaet Dresden and the German Bundesbank Workshop on Country Risk and Foreign Direct Investment. Dresden, Germany, January 11-12, 2008.

INVITED SPEAKER, University of Tunis Finance Conference, Hammamet, Tunisia, May 3-5, 2007.

INVITED SPEAKER, Euro Working Group Financial Modelling Conference, Sophia Antipolis, November 16-17, 2006.

KEYNOTE SPEAKER, French Finance Association International Conference, Poitiers, June 27, 2006.

KEYNOTE SPEAKER, XXXVI Conference of European Working Group on Financial Modeling, Brescia, Italy, May 4-7, 2005.

KEYNOTE SPEAKER, 3rd International Finance Conference of the French-Tunisian Finance Associations, Hammemet, Tunisia, 3-5 March, 2005.

INVITED SPEAKER, Annual conference of the Italian Association of Mathematics Applied to Economics and the Social Sciences, Modena, Italy, September 9-10, 2004.

INVITED SPEAKER, International Conference on Business, Banking and Finance, University of the West Indies, April 27-29, 2004.

INVITED SPEAKER, Conference on Country Risk in Emerging Markets, London Metropolitan University, January 29, 2004.

KEYNOTE SPEAKER, AEA Conference on Econometrics of Emerging Markets, Toledo Spain, November 7, 2003.

INVITED SPEAKER, GARP's 2nd Asset Management Forum, London, November 17, 2003. INVITED SPEAKER, Quantitative Finance Review, London, November 11, 2003.

INVITED SPEAKER, Sovereign Risk, Financial Crises and Stability Workshop, Dresden University of Technology, June 12-13, 2003.

INVITED SPEAKER, The 3nd Annual GARP Credit and Counterparty Risk Summit, London May 21-22, 2003.

INVITED SPEAKER, International Conference on Finance and Frontiers in Finance and Economics, Hammamet Yasmine, Tunisia, March 13-15, 2003.

INVITED SPEAKER, International Conference on Banking and Finance, Crete, Greece, August 9-11, 2002.

INVITED SPEAKER, The 2nd GARP Credit and Counterparty Risk Summit, London May 20-22, 2002.

KEYNOTE SPEAKER, Chambre de Commerce et d’Industrie de la Haute Savoie, I.S.E. Club des Entreprises, March 22, 2002.

INVITED SPEAKER, The Bank of England, September 19, 2001, London. INVITED SPEAKER, Financial Engineering Symposium 2001, The International Association of Financial Engineers and the CERAM, Sophia Antipolis, July 2001.

INVITED SPEAKER, The GARP Credit and Counterparty Risk Summit, London May 21-23, 2001.

INVITED SPEAKER, Joint International Swap Dealers Association- Global Association of Risk Professionals Conference, May 16, 2001, London, UK.

INVITED SPEAKER, International Conference on Financial and Real Markets, Risk Management and Corporate Governance Theory and International Evidence, organized by the Universities of Maine, Dauphine and Cergy and the University of Tunisia, Port El Kantoui, Tunisia, March 2001.

KEYNOTE SPEAKER, International Conference on Banking and Finance: Issues and Strategies, organized by the Universiti Utara Malaysia, August 2000.

KEYNOTE SPEAKER at the conference “Comment Evaluer une Entreprise Internet?” organized by Philipponnat et Associés, Paris, France, May 2000.

INVITED SPEAKER at the International Conference “Pricing and Managing Financial Assets in International Capital Markets” organized by the G.R.E.F.I of the Université du Maine, Le Mans, France, January 2000.

INVITED SPEAKER, UNESCO Symposium on Water Management, Cannes, France, May 2000. INVITED SPEAKER at "Arthur Andersen Annual Conference" organized by Arthur Andersen Consultants in Las Vegas, Nevada, December 1996.

KEYNOTE SPEAKER at the EUROMONEY-Le Figaro Conference on International Mergers and Acquisitions, Hotel Intercontinental, Paris, France, May 1988.

KEYNOTE SPEAKER at the EUROMONEY Conference on Country Risk Analysis, Grosvenor House Hotel, London, England, June 1987.

Languages spoken

  • Spanish
  • French
  • International Finance
  • Continuous Time Finance
  • Real Options
  • Political Risk Analysis
  • Emerging Markets
  • Capital Budgeting
  • Issues in Corporate Strategy and International Business