Professor Hisham Farag

Professor Hisham Farag

The Department of Finance
Professor of Finance
Head of Department of Finance
Founding Director of the Sustainable Financial Innovation Research Centre (SFIC)

Contact details

Telephone
+44 (0)121 414 3101
Fax
+44 (0)121 414 6678
Email
h.farag@bham.ac.uk
Address
University of Birmingham
Edgbaston
Birmingham
B15 2TT
UK

Qualifications

  • BSc Business Administration
  • MSc Finance
  • PhD Business Administration
  • PhD Finance

Teaching

  • Corporate Finance 
  • Finance for Managers (MBA)
  • Financial Derivatives 
  • Risk Management (MSc)
  • Portfolio Theory and Investment Analysis

Research

Research interests:

  • FinTech
  • Corporate governance.
  • Board structure.
  • Board diversity.
  • Corporate social responsibility.
  • Behavioural finance.

Research grants:

  • Investment Decisions in Hedge Funds? (with Maria Schutte), Funded by Birmingham Business School (2018) - and the University of Dayton Business School –USA (2018)
  • Board of Directors Effectiveness, Funded by Energy Systems Catapult, Innovate UK. (2017-2018)
  • Do the characteristics and affiliations of the Board of Directors influence the riskiness of a Financial Institution? Funded by The Bank of England , (2016-2017)
  • Balancing the Board: Directors’ Skills and Diversity (with Christine Mallin). Funded by the Institute of Chartered Accountants of Scotland (ICAS), (2014-2016)

Other activities

Editorial Boards:

  • Associate Editor of the European Journal of Finance.
  • Associate Editor of Research in International Business and Finance.
  • Associate Editor of the Business Ethics European Review
  • Associate Editor of the African Accounting and Finance Association

Publications

Published papers: 

  • Farag, H and DG Dickinson (2020). The Power of Connections: Evidence from Financial Companies, Journal of Corporate Finance, forthcoming.
  • Thapa, C., Rao, S, Farag, H. and Koirala, S. (2020). Access to internal capital, creditor rights and corporate borrowing: Does group affiliation matter? Journal of Corporate Finance, forthcoming.
  • Farag, H. and Mallin, C.A (2019). Monitoring Corporate Boards: Evidence from China", The European Journal of Finance, 25(6), 524-549.
  • Farag, H., Mallin, C.A., and Ow-Yong, K., (2018). Corporate Governance in Islamic Banks: New Insights for Dual Board Structure and Agency Relationships. Journal of International Financial Markets, Institutions & Money, 54, 59-77.
  • Farag, H. and Mallin, C.A (2018). The influence of CEO Demographic Characteristics on Corporate Risk -Taking: Evidence from Chinese IPOs, The European Journal of Finance, 24(16), 1528-1551.
  • Farag, H., & Mallin, C. (2017). Board diversity and financial fragility: Evidence from European banks. International Review of Financial Analysis, 49, 98-112.
  • Farag, H. and Mallin, C.A (2016). The Impact of the Dual Board Structure and Board Diversity: Evidence from Chinese Initial Public Offerings (IPOs), Journal of Business Ethics, Volume 139, Issue 2, pp 333–349. Ranked by the Financial Times as one of the 45 global journals.
  • Farag, H., Qing, M., and Mallin, C.A. (2015). The Social, Environmental and Ethical Performance of Chinese Companies: Evidence from the Shanghai Stock Exchange, International Review of Financial Analysis, 42, 53–63.
  • Farag, H., Mallin, C.A., and Ow-Yong, K., (2014), Corporate Social Responsibility and financial performance in Islamic banks, Journal of Economic Behavior & Organization, 103, 21-38. Science Direct's 10 most downloaded Economics articles published since 1 January 2014 by authors based in the UK.
  • Farag, H., Mallin, C.A., and Ow-Yong, K. (2014), Governance, Ownership Structure and Performance of Entrepreneurial IPOs in AIM Companies, Corporate Governance; An International Review, 22, 100-115.
  • Cressy, R. and Farag, H. (2014). Stairway to Heaven or Gateway to Hell: A Competing Hazards Rate Analysis of Delistings on Hong Kong’s GEM, International Review of Financial Analysis, 36, 195-205.
  • Farag, H. and Cressy, R. (2013). Stock market regulation and news dissemination: evidence from an emerging market. The European Journal of Finance, 18:351-368.
  • Cressy, R. and Farag, H. (2012). Do private equity-backed buyouts respond better to financial distress than PLCs? The European Journal of Finance, 18: 239-259.

 Other published papers in peer reviewed journals:

  • Farag, H. (2015). The Influence of Price Limits on Overreaction in Emerging Markets: Evidence from the Egyptian Stock Market, The Quarterly Review of Economics and Finance, 58, 190-199.
  • Farag, H. (2015). Long-term Overreaction, Regulatory Policies and Stock Market Anomalies: Evidence from Egypt, Journal of Emerging Market Finance. 14(2) 112–139.
  • Bubakri, S. and  Farag, H. (2015). Short-Term Overreaction to Specific Events: Evidence from an Emerging Market. Research in International Business and Finance, 35, 153–165.
  • Farag, H. (2014). Investor overreaction and unobservable portfolios: evidence from an emerging market, Applied Financial Economics, 24, (20), pp 1313-1322.
  • Wright, M., Wilson, N., and Farag, H (2014), Financial Restructuring and Recovery in Private Equity Buyouts: The UK Evidence, Venture Capital: An International Journal of Entrepreneurial Finance, 16, (2), pp109-129.
  • Farag, H. (2014). The effectiveness of competing regulatory regimes: Evidence from an emerging market, Global Finance Journal, 25, (2), pp 136-147. Best paper award of the Global Finance Conference, California, USA.
  • Farag, H. (2013). Price Limit Bands, Asymmetric Volatility and Stock Market Anomalies: Evidence from Emerging Markets, Global Finance Journal, 24, pp85-97.
  • Cressy, R. and Farag, H. (2011). Do size and unobservable company factors explain stock price reversals? Journal of Economics and Finance, 35: 1-21.
  • Farag, H., and R. Cressy. (2011). Do regulatory policies affect the flow of information in emerging markets? Research in International Business and Finance 25: 238–54.
  • Farag, H. and Cressy, R. (2010). Do unobservable factors explain the disposition effect in emerging stock markets? Applied Financial Economics, 20: 1173–1183.

Edited Books, chapters, Research Monograph and Professional Reports: 

  • Mallin, C.A. and Farag, H. (2017). Balancing the Board: Directors’ Skills and Diversity. Research Monograph  Funded by The Institute of Chartered Accountants of Scotland (ICAS). ISBN:978-1-909-883-28-4 https://www.icas.com/__data/assets/pdf_file/0010/289189/Mallin-And-Farag-ICAS-report-May-2017.pdf
  • Farag, H.  (2015). Corporate Governance in Islamic Financial Institutions: What have we learnt? Handbook on Corporate Governance in Financial Institutions, Edward Elgar Publishing.
  • Farag, H. and Mallin, C.A. (2015). Corporate Governance and Diversity in Chinese Banks, Developments in Chinese Entrepreneurship and Sustainable Entrepreneurship in China Palgrave Macmillan, US.
  • Farag, H. (2015), Corporate Governance and Corporate Social Responsibility of Banks, World Scientific Publishers.
  • Cressy, R. and Farag, H. (2012). Do Buyouts respond better to financial distress than PLCs? Book title: Entrepreneurship, Finance, Governance and Ethics, Springer (2012).