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Bruce Hearn
Senior Lecturer in Accounting & Finance (Business and Management)
E:
T: +44 (0)1273 678377


Research

My research interests centre on the Emerging Financial Markets of Asia, Africa, Latin America and Caribbean and Middle East and in particular the measurement and influence of liquidity and legal origins on asset valuation and their role in corporate governance.  I am also interested in interdisciplinary approaches to finance and am particularly interested in the practical implications of regulation, liquidity and legal origins on investors as well as firms seeking to raise finance and on corporate governance and optimal management structure.

 

Editorial and Refereeing

February 2013 - current  Subject Editor/Editorial Board  Research in International Business & Finance (RIBAF)

ISSN: 0275-5319  Elsevier Publishing House (Netherlands)

 

Ad-hoc refereeing: Corporate Governance: An International Review, Journal of Economic Growth, Journal of Economic Studies, Emerging Markets Review, Journal of Developing Areas, Journal of Management Inquiry, The Quarterly Review of Economics and Finance, World Development, Journal of Banking and Finance, Research in International Business and Finance, International Review of Financial Analysis, Global Finance Journal, South African Journal of Economics, Journal of World Business, Journal of International Business Studies, Journal of Small Business Management.

 

Awards and Funding

External

Economic and Social Research Council, ESRC (UK)

2005 – 2008  GBP 14,000 per year plus full tuition fee and data collection stipend (Full time PhD studentship)

AIB UK&I - Michael Z. Brooke Doctoral Prize

2007  GBP 200 for Best new research prize awarded at 2007 annual conference of Academy of International Business UK and Ireland Chapter

 

Internal

University of Sussex Research Development Fund

2016  GBP 1,500 (Principal Investigator, PI) for one year research project on Caribbean Financial Markets

University of Sussex Research Development Fund

2016  GBP 3,000 (Principal Investigator, PI) for one year research project on Middle Eastern Financial Markets

University of Sussex Research Development Fund

2012  GBP 4,000 (Principal Investigator, PI) for one year research project on Emerging Financial Markets and Governance

 

External Grant Applications Reviewer (Large Grants, >£500,000)

Economic and Social Research Council (ESRC, UK);  American University of Sharjah (UAE); UAE University at Al-Ain (UAE)

 

Doctoral Student Supervision

Completions

Maslinawati Mohamad. 2017Three Essays in Corporate Restructuring and Reorganisations. (Joint-Lead supervisor with Dr Surandraneth Jory). Destination: Lecturer at Universiti Teknologi MARA, Shah Alam, Malaysia

 

University of Sussex, UK:

Lead supervisor

Nor Syahidah Binti Ishak. Microtakaful in Malaysia. (co-supervising with Professor Andy McKay). Final year. http://www.sussex.ac.uk/profiles/350303

 

Heriot-Watt University, Scotland, UK

Lead supervisor

Pia Huh. Three essays in financial economics. (co-supervising with Professor Neil Kay). Pre-final year 

 

Professional Research Associations

Central Bank of Trinidad & Tobago, Candice Dilbar, Research Economist

 

Publications

Journal Publications

2017

Hearn, B., Oxelheim, L., & Randøy, T. (2017, forthcoming). The institutional determinants of private equity involvement in business groups – The case of Africa. Journal of World Business, forthcoming [ABS: 4*]

Hearn, B., Phylaktis, K., & Piesse, J. (2017). The influence of Institutions, Investor Protection and Corporate Block-shareholders in Asset Pricing. Journal of Corporate Finance, 45,122-149 [ABS: 4*]

Hearn, B., Strange, R., & Piesse, J. (2017). Social Elites on the Board and Executive Pay in Developing Countries: Evidence from Africa. Journal of World Business, 52(2), 230-243 [ABS: 4*] 

Thomé, K., Madeiros, J., & Hearn, B. (2017). Institutional distance and the performance of foreign subsidiaries in Brazilian host market. International Journal of Emerging Markets, 12(2), 279-295 [ABS: 1*] 

 

2016

Hearn, B. (2016). A comparison of the efficacy of liquidity, momentum, size and book-to-market value factors in equity pricing on a heterogeneous sample: Evidence from Asia.  Financial Markets, Institutions and Instruments, 25(4), 253-330  [ABS: 3*]

 

2015

Hearn, B. (2015). Institutional influences on board composition of international joint venture firms listing on emerging stock exchanges: Evidence from Africa. Journal of World Business, 50(2), 205-219 [ABS 4*]

Hearn, B. (2015). The impact of firm size and liquidity on the cost of external finance in Africa. South African Journal of Economics, 83(1), 1-22 [ABS 1*]

 

2014

Hearn, B. (2014). The political institutional and firm governance determinants of liquidity: Evidence from North Africa and the Arab Spring. Journal of International Financial Markets, Institutions & Money, 31, 127-158 [ABS 3*]

Hearn, B. (2014). The impact of institutions, ownership structure, business angels, venture capital and lead managers on IPO firm underpricing across North Africa. Journal of Multinational Financial Management, 24, 19-42 [ABS 2*]

Hearn, B. (2014). The liquidity-cost implications from the attraction of regional primary listings: Evidence from West Africa. Research in International Business and Finance, 30(1): 91-110 [ABS 2*]

Hearn, B. (2014). Institutional impact on the expropriation of private benefits of control in North Africa. Research in International Business and Finance, 30(1): 1-23 [ABS 2*]

Hearn, B. (2014). Size and Liquidity Effects in Nigeria: An Industrial Sector Study. Journal of Developing Areas, 48(3), 1-30  [ABS 1*]

 

2013

Hearn, B., & Piesse, J. (2013). Firm level governance and institutional determinants of liquidity:  Evidence from Sub Saharan Africa. International Review of Financial Analysis, 28: 93-111 [ABS 3*]

Hearn, B. (2013). The impact of board governance on director compensation in West African IPO firms. Research in International Business and Finance, 28: 82-104 [ABS 2*]

Hearn, B. (2013). The determinants of director remuneration, executive tenure and individual CEO salary disclosure in North African IPO firms. Research in International Business and Finance, 27(1): 162-182 [ABS 2*]

Hearn, B. (2013). The institutional determinants of IPO Firm prospectus length in a developing context. Research in International Business and Finance, 27(1): 52-65 [ABS 2*]

Hearn, B. (2013). The determinants of director remuneration in West African: State versus firm governance measures. Emerging Markets Review, 14: 11-34 [ABS 2*]

Hearn, B. (2013). The Determinants of IPO Firm prospectus length in Africa. Review of Development Finance, 3(2): 84-98  [ABS 2*]

 

2012

Hearn, B. (2012). The contrasting effects of board composition and structure on IPO firm underpricing in a developing context. International Review of Financial Analysis, 21: 33-44 [ABS 3*]

Hearn, B., Strange, R., & Piesse, J. (2012). Islamic Finance and Market Segmentation: Implications for the Cost of Capital. International Business Review, 21: 102-113 [ABS 3*]

Hearn, B. & Piesse, J. (2012). A Reassessment of stock market integration in SADC: the determinants of liquidity and price discovery in Namibia. Applied Financial Economics, 23(2): 123-138 [ABS 2*]

Hearn, B. (2012). The Governance Implications from Presence of Long Term Foreign Investment Partner in West African IPO Firms. Journal of Transnational Management, 17(3): 169-188 [ABS 2*]

Hearn, B. (2012). Size and Liquidity Effects in African Frontier Equity Markets. Applied Financial Economics, 22(9): 681-707 [ABS 2*]

Hearn, B., & Piesse, J. (2012). A Test of the Law of One Price: An Examination of Price Integration between Europe and Regional Markets in Africa. Applied Economics, 44(1): 3169–3193 [ABS 2*]

 

2011

Hearn, B. (2011). The performance and the effects of family control in North African IPOs. International Review of Financial Analysis, 20: 140-151 [ABS 3*]

Hearn, B. (2011). The effects of banking relationship, legal origin, private equity and lead managers on the performance of West African IPO firms. South African Journal of Economics, 79(4): 430-451 [ABS 1*]

Hearn, B. (2011). Size and liquidity effects in Japanese regional stock markets. Journal of Japanese and International Economies, 25(2): 157–181 [ABS 2*]

Hearn, B., & Man, S-Y. (2011). An Examination of Price Integration between Stock Market and International Crude Oil indices: Evidence from China. Applied Economics Letters, 18(16): 1595-1602 (published with MSc student as co-author from MSc Dissertation) [ABS 1*]

Hearn, B. (2011). The role of the stock market in the provision of Islamic development finance: Evidence from Sudan. Emerging Market Review, 12(4): 338-353 [ABS 2*]

Hearn, B. (2011). The impact of corporate governance measures on the performance of West African IPO firms. Emerging Market Review, 12: 130-151 [ABS 2*]

Hearn, B. (2011). Development Strategy in a small offshore equity market: A case study of the Channel Islands. Journal of Economic Studies, 38(1): 30-51 [ABS 2*]

 

2010

Hearn, B. (2010). Time varying Size and Liquidity effects in South Asian Equity Markets: A study of blue-chip industry stocks. International Review of Financial Analysis, 19: 242-257 [ABS 3*]

Hearn, B., Piesse, J., & Strange, R. (2010). Market Liquidity and Stock Size Premia in Emerging Financial Markets: The Implications for Foreign Investment. International Business Review, 19: 489-501 [ABS 3*]

Hearn, B. (2010). Costs of Equity in North Africa’s equity markets: an Industrial Sector Study. Emerging Markets Review, 12: 21-46 [ABS 2*]

Hearn, B., & Givel, M. (2010). Stock Market Finance and Gross National Happiness: An Institutional Fit? Evidence from Bhutan. Journal of Bhutan Studies, 22: 1–36

Hearn, B., & Piesse, J. (2010). Performance of Size and Liquidity portfolios in West Africa. Applied Financial Economics, 20(13): 1011-1030 [ABS 2*]

Hearn, B., & Piesse, J. (2010) Market Liquidity and Stock Size Premia in Emerging Financial Markets. Macroeconomics and Finance in Emerging Market Economies, 2(2): 209-233

Hearn, B., & Piesse, J. (2010) Barriers to the development of small stock markets: A case study of Swaziland and Mozambique. Journal of International Development, 22: 1018–1037 [ABS 2*]

Hearn, B., & Piesse, J. (2010). The limited role of small stock exchanges in economic development: A case study of Mozambique and Swaziland. Development Southern Africa, 27(2): 205-224 [ABS 1*]

 

2009

Hearn, B., Strange, R., & Piesse, J. (2009). Overcoming Financing Constraints in an Emerging Islamic Market: Evidence from the Sudan Telecommunications Company. Transnational Corporations, 18(3): 1-26 [ABS 2*]

Hearn, B., & Piesse, J. (2009). Cost of Equity in African Financial Markets: An Industry Level Analysis. Emerging Markets Review, 11(4): 257-278 [ABS 2*]

Hearn, B., & Piesse, J. (2009) An Augmented Capital Asset Pricing Model: Liquidity and Stock Size in African Emerging Financial Markets. African Journal of Finance, Special Edition: 27-57 [ABS 1*]

Hearn, B., & Piesse, J. (2009). Investment Modelling in Southern Africa’s Smallest Equity Markets. Journal for the Study of Economics and Econometrics, 33(1): 1-19 [ABS 1*]

Hearn, B. (2009). Liquidity and valuation in East African Securities Markets. South African Journal of Economics, 77(4): 1-24 [ABS 1*]

 

Prior to 2008

Hearn, B., & Piesse, J. (2008). The Costs and Opportunities for Portfolio Diversification in Southern Africa’s Smallest Equity Markets. South African Journal of Economics, 76(3): 399-426 [ABS 1*]

Hearn, B., & Piesse, J. (2005). Integration and the Asymmetric Transmission of Volatility: A Study of Equity Markets in Sub Saharan Africa. South African Journal of Economics, 73(1): 36-53 [ABS 1*]

Hearn, B., & Piesse, J. (2002). Equity Market Integration versus Segmentation in Three Dominant Markets of the Southern African Customs Union: Cointegration and Causality Tests. Applied Economics, 34(14): 1711-1722 [ABS 2*]

 

Industry Occasional Papers

Hearn, B., & Piesse, J., & Strange, R. (2009). Market Liquidity and Stock Size Premia in Emerging Financial Markets: The Implications for Foreign Investment. Cairo and Alexandria Stock Exchange Occasional Paper No. 4.  Cairo: Egypt http://www.egx.com.eg/English/Papers.aspx

 حجم الأسهم المتداولة وسيولتها: وتأثيرهما على الإستثمار الأجنبي في الأسواق الناشئة

 

Hearn, B. (2010). Liquidity estimation in African emerging markets. Cairo and Alexandria Stock Exchange Occasional Paper No. 6.  Cairo: Egypt

http://www.egx.com.eg/English/Papers.aspx

تقدير للسيولة في الأسواق الأفريقية الناشئة

 

Hearn, B. (2010). Costs of Equity in North Africa’s equity markets: an Industrial Sector Study. Cairo and Alexandria Stock Exchange Occasional Paper No. 7.  Cairo: Egypt

http://www.egx.com.eg/English/Papers.aspx

 

 

Books and Book Chapters

Hearn, B. (2009). “African Frontier Equity Markets”, October 2009. VDM-Verlag Publications: Frankfurt (ISBN: 978-3-639-20283-0)

Hearn, B., & Piesse, J. (2007). “Equity Market Integration and the Implications for Foreign Investment in Africa”, Chapter 4 in Corporate Governance and International Business: Strategy, Performance and Institutional Change, February 2008. Ed: Roger Strange and Gregory Jackson, Palgrave Publications. (ISBN: 978-0-9556365-0-9)

Hearn, B., & Piesse, J. (2006). “Is there a role for micro-markets in Sub-Saharan Africa? A study of the Swaziland stock exchange”, in Research in Development Finance for Africa, July 2006. Ed: Dr K Osei, University of Ghana Business School Publications

 

Invited Seminar Presentations

August 2016: PhD Chapter Progress Evaluation of Biruk Ayalew Wondem at Hanken School of Economics, Helsinki, Finland. August 2016

August 2015: PhD Chapter Progress Evaluation of Peter Assenga at Hanken School of Economics, Helsinki, Finland. August 2015

December 2011:  Ownership concentration, institutions and expected returns.  Invited presentation to Indira Ghandi Development Institute.  Mumbai, India.

November 2011:  Internal versus external governance mechanisms: The impact on director remuneration. Invited private presentation to an invited symposium audience of Caribbean business leaders. Barbados Chamber of Commerce, Bridgetown, Barbados.

October 2011:  Ownership concentration, institutions and expected returns.  Keynote research lecture. Raffles education institute, Hong Kong (SAR China).

 

Conference/Seminar Presentations

2017

July 2017: Institutional Environment Determinants of Board Structure: Social Elites on Boards of Business Group Firms. Hosted by: Academy of International Business (AIB), Dubai, United Arab Emirates

July 2017: The Institutional Determinants of Anglo-American Governance Migration into Emerging Economies – Evidence from Africa. Hosted by: Academy of International Business(AIB), Dubai, United Arab Emirates

July 2017: The Institutional Determinants of Private Equity Ownership’s Influence on Founder Retention as CEO at IPO in Africa. Hosted by: Academy of International Business(AIB), Dubai, United Arab Emirates

 

2016

December 2016: On the migration of corporate governance practice: The case of institutions and CEO salary disclosure in corporate Africa. Hosted by: World Finance Association, Dubai, UAE

December 2016: Ownership concentration, institutions and expected returns.. Hosted by: World Finance Association, Dubai, UAE

October 2016: On the migration of corporate governance practice: The case of institutions and CEO salary disclosure in corporate Africa. Hosted by: Financial Management Association, Las Vegas, USA (presented in absentia by co-author: Lars Oxelheim)

July 2016: The Impact of Institutions in Influencing IPO Firm Voluntary Disclosure of CEO Salary. Hosted by: World Finance Conference/ Association, New York, USA (presented in absentia by co-author: Lars Oxelheim)

June 2016: The Influence of Institutions on the Proportion of Social Elites on Boards of Business Group IPO Firms in Emerging Economies. Hosted by: Academy of International Business(AIB), New Orleans, USA

June 2016: The Impact of Institutions in Influencing IPO Firm Voluntary Disclosure of CEO Salary. Hosted by: Academy of International Business(AIB), New Orleans, USA

June 2016: The Impact of Private Equity Ownership and Institutions on Founder Retention as CEO at IPO in Emerging Economies. Hosted by: Academy of International Business(AIB), New Orleans, USA

 

2015

December 2015: National governance, social elites on company boards, and board compensation: A cross-national study of emerging economy IPO firms. Hosted by: European International Business Academy, Rio de Janeiro, Brazil

December 2015: Institutional distance and the performance of foreign subsidiaries in Brazilian host market: A positive relationship. Hosted by: European International Business Academy, Rio de Janeiro, Brazil

June 2015: National governance, social elites on company boards, and board compensation: A cross-national study of emerging economy IPO firms. Hosted by: Academy of International Business, Indian Institute of Management, Bangalore/Bengaluru, India

June 2015: The institutional differences between family and non-family business groups in terms of retained ownership by venture capitalist and angel investors in an emerging African context. Hosted by: Academy of International Business, Indian Institute of Management, Bangalore/Bengaluru, India

June 2015: The role of family and institutions in determining CEO succession: Evidence from North African IPO firms. Hosted by: Academy of International Business, Indian Institute of Management, Bangalore/Bengaluru, India

 

2014

June 2014: The board governance implications of environmental uncertainty in Joint Ventures:  evidence from Emerging Economy IPO Firms. Hosted by: Academy of International Business, Vancouver, Canada

June 2014: Institutional determinants of private equity investment in African IPO Firms. Hosted by: Academy of International Business, Vancouver, Canada

June 2014: The Impact of business Angel, domestic, foreign venture capital and institutional quality on founder-ceo retention in african ipo firms. Hosted by: Academy of International Business, Vancouver, Canada

 

2013

December 2013: The Impact of Foreign Directors on Board Compensation in Emerging African IPO Firms. European Academy of International Business (EIBA), Hosted by University of Bremen, Germany

July 2013: The Institutional Determinants Of Long Term Foreign Partner Involvement In Emerging Economy IPO Firms. "18th Annual Meeting of African Econometric Society". Hosted by: University of Ghana, Accra, Ghana.

July 2013: Firm level governance and institutional determinants of liquidity: Evidence from Sub Saharan Africa. "18th Annual Meeting of African Econometric Society". Hosted by: University of Ghana, Accra, Ghana.

July 2013: The Impact of Foreign Directors on Board Compensation in Emerging African IPO Firms. Hosted by: Academy of International Business, Istanbul, Turkey

June 2013: The political institutional and firm governance determinants of liquidity: Evidence from North Africa and the Arab Spring. “INFINITI Conference on International Finance”. Hosted by: EuroMed and Sciences Po, Aix-en-Provence, France.

 

2012

December 2012: The influence of institutions in Founder-CEO retention: IPO Firms in a developing country context. "International Business and Sustainable Development". Hosted by: University of Sussex, Brighton. UK

July 2012: The influence of institutions in Founder-CEO retention: IPO Firms in a developing country context. “Rethinking the roles of business, government and NGO's in the global economy”. Hosted by: Academy of International Business, Washington DC, USA

July 2012: The institutional and board governance characteristics of African IPO firms with long term foreign partners. “Rethinking the roles of business, government and NGO's in the global economy”. Hosted by: Academy of International Business, Washington DC, USA

June 2012: Time varying liquidity effects in Pacific-Basin equity markets: An industrial sector study. University of Sussex, School of Business and Management seminar series. Hosted by: University of Sussex, UK.

June 2012: Time varying liquidity effects in Pacific-Basin equity markets: An industrial sector study. “INFINITI Conference on International Finance”. Hosted by:TrinityCollegeDublin. Dublin, Ireland.

 

2011

August 2011:  The determinants of director remuneration, executive tenure and individual CEO disclosure in North African IPO firms. "Institutional, Corporate, and Individual Behaviours in Emerging and Subsistence Marketplaces". Hosted by Faculte des Sciences Economiqies, Aix-en-Provence, France

July 2011:  Size and Liquidity Effects in Asia-Pacific equity markets.  “Frontiers in Finance: Asia-Pacific and Beyond”.  Hosted by: Asian Finance Association, Macau (SAR China)

July 2011:  The role of Liquidity, Investor Protection and Corporate Block-shareholders in Asset Pricing.  “Frontiers in Finance: Asia-Pacific and Beyond”.  Hosted by: Asian Finance Association, Macau (SAR China)

April 2011:  A Reassessment of Stock Market Integration in SADC:  the case of Namibia.  “8th African Finance Journal Conference: Managing Africa’s Economic Growth through Development Finance Research”.  Hosted by: University of Namibia, Windhoek, Namibia (presented in absentia by co-author)

April 2011:  The performance and the effects of family control in North African IPOs.  “38th Annual Conference International Business: New challenges, new forms, new practices”.  Hosted by: Academy of International Business: UK and Ireland Chapter, University of Edinburgh, UK

April 2011:  The contrasting Effects of board composition and structure on IPO firm underpricing in a developing context.  “38th Annual Conference International Business: New challenges, new forms, new practices”.  Hosted by: Academy of International Business: UK and Ireland Chapter, University of Edinburgh, UK

 

2010

July 2010:  Size and Liquidity Effects in Australasian and South East Asian equity markets.  “New Horizons in Finance for Asia and the Region”.  Hosted by: Asian Finance Association, Hong Kong

June 2010:  Legal regime, Size, and Liquidity factors in Asset Pricing.  “International Business in Tough Times”.  Hosted by: Academy of International Business, Rio de Janeiro, Brazil

June 2010:  The role of the stock market in the provision of Islamic Development Finance: Evidence from Sudan.  “International Business in Tough Times”.  Hosted by: Academy of International Business, Rio de Janeiro, Brazil

June 2010:  Size and Liquidity Effects in Sub Saharan African stock markets.  “8th INFINITI Conference on International Finance”.  Hosted by:TrinityCollegeDublin. Dublin, Ireland.

June 2010:  Legal regime, Size, and Liquidity factors in Asset Pricing.  “8th INFINITI Conference on International Finance”.  Hosted by:TrinityCollegeDublin. Dublin, Ireland.

March 2010:  Legal regime, Size, and Liquidity factors in Asset Pricing.  “7th African Finance Journal Conference: Managing Africa’s Economic Growth through Development Finance Research”.  Hosted by: University of Stellenbosch Business School and Africa-Growth Institute, Cape Province, South Africa (presented in absentia by co-author)

March 2010:  A Test of the Law of One Price:  An Examination of Price Integration between Europe and Regional Markets in Africa.  “7th African Finance Journal Conference: Managing Africa’s Economic Growth through Development Finance Research”.  Hosted by: University of Stellenbosch Business School and Africa-Growth Institute, Cape Province, South Africa (presented in absentia by co-author)

March 2010:  Liquidity and Stock Size Premia in Japanese Regional Financial Markets:  An Industry Level Analysis.  “37th Annual Conference: Regionalism and Globalisation”.  Hosted by: Academy of International Business: UK and Ireland Chapter, Trinity College Dublin, Dublin Ireland

March 2010:  Size and Liquidity Effects in Australasian and South East Asian equity markets.  “37th Annual Conference: Regionalism and Globalisation”.  Hosted by: Academy of International Business: UK and Ireland Chapter, Trinity College Dublin, Dublin Ireland

 

2009

March 2009:  Development Policy For Small Stock Markets: A Case Study Of Mozambique And Swaziland.  “Economic Development in Africa Annual Conference”.  Hosted by: Centre for the Study of African Economies, St Catherine’s College, University of Oxford, UK

 

2008

December 2008:  An Augmented Capital Asset Pricing Model: Liquidity and Stock Size in African Emerging Financial Markets.  “34th EIBA Annual Conference "International Business and the Catching Up Economies: Challenges and Opportunities",Tallinn,Estonia (presented in absentia by co-author)

July 2008:  The Costs and Opportunities for Portfolio Diversification in Southern Africa’s Smallest Equity Markets.  “Private presentation to Bolsa de Valores de Maputo”.  Maputo Stock Exchange, Maputo, Mozambique.

July 2008:  An Augmented Capital Asset Pricing Model: Liquidity and Stock Size in African Emerging Financial Markets.  “Fifth African Finance Journal Conference: Innovative Finance for Africa’s Development”.  Hosted by: African Finance Association.Cape Town,South Africa.

July 2008:  The Costs and Opportunities for Portfolio Diversification in Southern Africa’s Smallest Equity Markets.  “Fifth African Finance Journal Conference: Innovative Finance for Africa’s Development”.  Hosted by: African Finance Association,Cape Town,South   Africa.

July 2008:  An Augmented Capital Asset Pricing Model: Liquidity and Stock Size in African Emerging Financial Markets.  “Annual Conference of African Econometric Society”.  Hosted by: Africa Econometrics Society andUniversity ofPretoria.Pretoria/Tshwane,South Africa.

July 2008:  The Costs and Opportunities for Portfolio Diversification in Southern Africa’s Smallest Equity Markets.  “Annual Conference of African Econometric Society”.  Hosted by: Africa Econometrics Society andUniversity ofPretoria.Pretoria/Tshwane,South Africa

June 2008:  African Equity Market Integration: A joint assessment of integration on an intra-regional basis and with the major markets of Europe.  “6th INFINITI Conference on International Finance”.  Hosted by:TrinityCollegeDublin.Dublin,Ireland.Republic ofIreland.

May 2008:  An Augmented Capital Asset Pricing Model: Liquidity and Stock Size in Emerging Financial Markets. “Second Emerging Markets Group Conference on Emerging Markets Finance”.  Hosted by: Emerging Markets Group,CassBusinessSchool.London.UK.

 

2007

July 2007:  An assessment of the law of one price for African Equity Markets on an intra-regional basis and with the major markets of Europe.  “Fourth African Finance Journal Conference: Research in Development Finance for Africa”.  Hosted by: African Finance Association andUniversity of Botswana,Botswana.

July 2007:  An assessment of the law of one price for African Equity Markets on an intra-regional basis and with the major markets of Europe.  “Twelfth Annual Conference on Econometric Modelling in Africa”.  Hosted by: Africa Econometrics Society andUniversity ofCape Town.Cape Town,South Africa.

June 2007:  An assessment of the law of one price for African Equity Markets on an intra-regional basis and with the major markets of Europe.  “5th INFINITI Conference on International Finance”.  Hosted by:TrinityCollegeDublin.Dublin,Republic ofIreland.

April 2007:  An assessment of the law of one price for African Equity Markets on an intra-regional basis and with the major markets of Europe.  “Corporate Governance and International Business”.  Jointly organized and hosted by:Academy ofInternational   Business and Kings College London.London,UK.

 

Prior to 2006

July 2006:  Is there a role for Micro-Markets in Sub Saharan Africa? A Study of the SwazilandStock Exchange.  “Third African Finance Journal Conference: Research in Development Finance for Africa”.  Hosted by:University ofGhana Business School andAfrica Centre for Investment Analysis.Accra,Ghana.

August 2001:  Regional Integration of Equity Markets in Sub Saharan Africa.  “Financial Empowerment of Africa: The Role of Development Finance, Banks, Financial Markets & Information Technology”.  Hosted by: African Finance Association, Stellenbosch.South Africa

April 2001:  Equity Market Integration versus Segmentation in Three Dominant Markets of the Southern African Customs Union: Cointegration and Causality Tests.  “Business and Development Finance: Policy and Experience in Asia and Africa”.  Hosted by: IDPM (University ofManchester)/ DIFD,Manchester,UK.

 

Weblinks

African Securities Exchanges Association: http://www.africansea.org/ASEA/Default.aspx

Burkina Faso Business News (live feed and in French): http://www.rtb.bf/

Mali Business News (live feed and in French): http://ortm.ml/

World Federation of Exchanges: http://www.world-exchanges.org/

 

Media

2016: Interviews with Peshgam Television network in Kabul, Afghanistan: http://peshgam.tv/dari/

2015: Interviews with Peshgam Television network in Kabul, Afghanistan: http://peshgam.tv/dari/

2012: Interview with Business week journal

2011: Interviews with The Economist: http://www.economist.com/

    http://www.economist.com/node/18958611

2011: Interview on national television and news journal of St Kitts and Nevis:

    http://www.sknvibes.com/news/newsdetails.cfm/49125

    http://www.zizonline.com/news/?89B6DC30-2219-22DB-AB019E62791FA8C1

2011: Interview on national television and news journal of St Lucia:

    http://www.thevoiceslu.com/local_news/2011/november/01_11_11/LEADING_ACADEMICS_VISIT.htm

    http://www.onecaribbeanltd.com/onecaribbeanltd/section.php?IssueID=163&SectionID=3

 

Stock Exchange Vists and Interviews

2017

August Bourse d'Alger, Algiers, Algeria

July Tokyo stock exchange, Tokyo, Japan

July Korean stock exchange, Seoul, South Korea

July Dubai financial market, Dubai, UAE

June Wiener borse, Vienna, Austria

June Dubai financial market, Dubai, UAE

June Cochin financial centre, Cochin, Kerala, India

May Dubai financial market, Dubai, UAE

May Sri Lankan stock exchange, Colombo, Sri Lanka

April Beirut stock exchange (bourse), Beirut, Lebanon

April Amman stock exchange, Amman, Jordan

April ADX Abu Dhabi securities  exchange, Abu Dhabi, UAE

April Dubai financial market, Dubai, UAE

February Geneva financial district, Switzerland

January Geneva financial district, Switzerland

January Bahrain stock exchange, Bahrain

 

2016

December Abu Dhabi securities exchange, Abu Dhabi, UAE

December Dubai financial market, Dubai, UAE

November Bermuda stock exchange, Bermuda

October Helsinki financial district, Finland

September Dubai financial district, Dubai, UAE

August Tivat & Budva financial districts, Montenegro

August Helsinki financial district, Finland

August Dubai financial district, Dubai, UAE

August Da Afghanistan Bank, Kabul, Afghanistan

July Barbados Stock Exchange, Bridgetown, Barbados

July Jamaica Stock Exchange, Kingston, Jamaica

June Trinidad & Tobago Stock Exchange, Port of Spain, Trinidad & Tobago

March Kuwait Stock Exchange, Kuwait City, Kuwait

March Qatar Stock Exchange, Doha, Qatar

March Dubai Securities Exchange, Dubai, UAE

January Da Afghanistan Bank, Kabul, Afghanistan

 

2015

December Istanbul Securities Exchange, Istanbul, Turkey

November Sao Paolo Stock Exchange, Sao Paolo, Brazil

October Helsinki Stock Exchange, Helsinki, Finland

September Stock Exchange of Thailand, Bangkok, Thailand

August Helsinki Stock Exchange, Helsinki, Finland

July Bombay Stock Exchange, Mumbai, India

May Dubai Securities Exchange, Dubai, UAE

May Doha Securities Exchange, Doha, Qatar

April Da Afghanistan Bank, Kabul, Afghanistan

January Stock Exchange of Thailand, Bangkok, Thailand

 

2014

December Philippines Stock Exchange, Manila, The Philippines

December Stock Exchange of Thailand, Bangkok, Thailand

July Toronto Stock Exchange, Toronto, Canada

June Bolsa de Barcelona, Barcelona, Catalonia/Spain

April Gibraltar Offshore Center, Gibraltar

April Bourse de Casablanca, Casablanca, Morocco

 

2013

December Philippines Stock Exchange, Manila, The Philippines

December Singapore Stock Exchange, Republic of Singapore

July Ghana Stock Exchange,  Accra, Ghana, West Africa

July Istanbul Stock Exchange, Turkey

May United Arab Emirates Dubai Securities Exchange, Dubai, UAE

May Cambodia Stock Exchange Phnom Penh, Cambodia

May Stock Exchange of Thailand, Bangkok, Thailand

 

2012

October Bourse de Casablanca, Casablanca, Morocco

 

2011

December  LSX Lao Securities Exchange,  Vientiane, PDR Laos

December  SET Stock Exchange of Thailand, Bangkok, Thailand

November  Eastern Caribbean Securities Exchange, Basseterre, St Kitts and Nevis

November  Barbados Stock Exchange, Bridgetown, Barbados

October  Shanghai Stock Exchange,  Shanghai, China

October  Hong Kong Stock Exchange,  Hong Kong, SAR China

September  Muscat Securities Exchange,  Ruwi, Muscat, Oman

September  Dubai Securities Exchange,  Dubai, United Arab Emirates

July  SET Stock Exchange of Thailand,  Bangkok, Thailand

March  Ghana Stock Exchange,  Accra, Ghana, West Africa

January  Philippines Stock Exchange, Makati, Manila, Philippines

 

2010

July  Philippines Stock Exchange,  Makati, Manila, Philippines

July  Philippines Stock Exchange,  Pasig city, Manila, Philippines

July  Hong Kong Stock Exchange,  Hong Kong, SAR China

July  Ho Chi Minh Stock Exchange,  Ho Chi Minh City, Vietnam

July  Hanoi Stock Exchange,  Ha Noi, Vietnam

June  Bolsa de Valores de Rio de Janaeiro,  Rio de Janeiro, Brazil

 

2009

December  SET Stock Exchange of Thailand,  Bangkok, Thailand

December  Dubai Securities Exchange,  Dubai, United Arab Emirates

June  London Stock Exchange,  London, UK

April  Singapore Stock Exchange, Republic of Singapore

 

2008

December  Ghana Stock Exchange,  Accra, Ghana, West Africa

December  BRVM Bourse Regionale des Valuers Mobilieres,  Abidjan, Cote d'Ivoire, West Africa

December  SGI-BRVM Societe de Gestion Intermediere,  Bamako, Mali, West Africa/Sahara Desert

July  Bolsa de Valores de Mocambique,  Maputo, Mozambique

July  LuSE Lusaka Stock Exchange,  Lusaka, Zambia

May  Bolsa de Valores de Rio de Janaeiro,  Rio de Janeiro, Brazil

May  Bolsa de Valores de Sao Paolo,  Sao Paolo, Brazil

March  Bourse de Casablanca,  Casablanca, Morocco

February  CASE Cairo and Alexandria (Egyptian) Stock Exchange,  Alexandria, Egypt

February  CASE Cairo and Alexandria (Egyptian) Stock Exchange,  Cairo, Egypt

January  Bourse de Tunis,  Tunis, Tunisia

 

2007

December  Ghana Stock Exchange,  Accra, Ghana, West Africa

December  BRVM Bourse Regionale des Valuers Mobilieres,  Abidjan, Cote d'Ivoire

July  Bolsa de Valores de Mocambique,  Maputo, Mozambique

July  BSE Botswana Stock Exchange,  Gabarone, Botswana

July  NSE Nairobi Stock Exchange,  Nairobi, Kenya

June  USE Uganda Securities Exchange,  Workers House, Kampala, Uganda

 

2006

July  Ghana Stock Exchange,  Accra, Ghana, West Africa

July  Nigerian Stock Exchange,  Ikeja, Lagos, Nigeria

 

2001

July  NSX Namibian Stock Exchange,  Windhoek, Namibia