Consultancy Report
Reality of accounting for carbon-related instruments
Baboukardos D, Dionysiou D, Slack R, Tsalavoutas I & Tsoligkas F (2025) Reality of accounting for carbon-related instruments. ACCA. ACCA and Adam Smith Business School. https://www.accaglobal.com/gb/en/professional-insights/global-profession/carbon-related-instruments.html
Article
The diminishing lustre: Gold's market volatility and the fading safe haven effect
Faraj H, McMillan D & Al-Sabah M (2025) The diminishing lustre: Gold's market volatility and the fading safe haven effect. Global Finance Journal, 67, Art. No.: 101145. https://doi.org/10.1016/j.gfj.2025.101145
Article
Uyar A, Kuzey C, Al-Shaer H & Karaman A (2025) R&D intensity, renewable energy use, and sustainability governance mechanisms: An international investigation. R&D Management. https://doi.org/10.1111/radm.70020
Article
Altin M, Al Ani M, Al-Shaer H & Atalay M (2025) Exploring the nexus between environmental initiatives and audit fees: the moderating role of supplier ESG and environmental management training. SN Business & Economics, 5, Art. No.: 137. https://doi.org/10.1007/s43546-025-00919-3
Article
Does the internet lead to surface searching and a deficiency of discovery in student learning?
Watson D, Webb R, Cook S & Grant K (2025) Does the internet lead to surface searching and a deficiency of discovery in student learning?. Education and Information Technologies, 30, pp. 19853-19878. https://doi.org/10.1007/s10639-025-13498-5
Article
Appeasing Stockholders at the Expense of Stakeholders: Do Contingencies Matter?
Uyar A, Kuzey C, Al-Shaer H & Karaman A (2025) Appeasing Stockholders at the Expense of Stakeholders: Do Contingencies Matter?. International Journal of Finance and Economics. https://doi.org/10.1002/ijfe.70008
Article
Forecasting realised volatility using regime-switching models
Ding Y, Kambouroudis D & McMillan DG (2025) Forecasting realised volatility using regime-switching models. International Review of Economics and Finance, 101, Art. No.: 104171. https://doi.org/10.1016/j.iref.2025.104171
Article
Macroeconomic determinants of the stock market: A comparative study of Anglosphere and BRICS
Humpe A, McMillan DG & Schöttl A (2025) Macroeconomic determinants of the stock market: A comparative study of Anglosphere and BRICS. Finance Research Letters, 75, Art. No.: 106869. https://doi.org/10.1016/j.frl.2025.106869
Article
Board characteristics and aggressive CSR engagement: Does CSR committee provoke or restrain?
Uyar A, Al-Shaer H, Kuzey C & Karaman A (2025) Board characteristics and aggressive CSR engagement: Does CSR committee provoke or restrain?. Review of Quantitative Finance and Accounting. https://doi.org/10.1007/s11156-025-01403-7
Article
The Predictive Power of the Oil Variance Risk Premium
McMillan D & Ziadat S (2025) The Predictive Power of the Oil Variance Risk Premium. Resources Policy, 103, Art. No.: 105550. https://doi.org/10.1016/j.resourpol.2025.105550
Article
CSR Governance Committee and Carbon Emission Performance: Does Committee Composition Matter?
Meqbel R, Alta’any M, Abweny M & Al-Shaer H (2025) CSR Governance Committee and Carbon Emission Performance: Does Committee Composition Matter?. International Journal of Finance and Economics. https://doi.org/10.1002/ijfe.3164
Article
The FED Model: Is it Still With Us?
McMillan D (2025) The FED Model: Is it Still With Us?. North American Journal of Economics and Finance.
Article
Internationalisation, waste management, and board attributes
Uyar A, Al-Shaer H, Kuzey C & Karaman A (2025) Internationalisation, waste management, and board attributes. Business Strategy and the Environment, 34 (3), pp. 3714-3738. https://doi.org/10.1002/bse.4175
Article
McMillan D, Kambouroudis D & Huang R (2025) Is Portfolio Diversification Still Effective: Evidence Spanning Three Crises from the Perspective of U.S. Investors. Journal of Asset Management.
Article
The Role of CEO Power and Audit Committees in Cybersecurity Risk Management
Al-Shaer H, Albitar K, Derouiche I & Hussainey K (2025) The Role of CEO Power and Audit Committees in Cybersecurity Risk Management. The International Journal of Accounting.
Article
Risky firms, ESG, and firm value: do women undertake a particular role?
Al-Shaer H, Kuzey C, Uyar A, Karaman A & Hasnaoui A (2025) Risky firms, ESG, and firm value: do women undertake a particular role?. Journal of Accounting Literature. https://doi.org/10.1108/JAL-04-2024-0065
Article
Forecasting the Realized Volatility of Stock Markets: The Roles of Jumps and Asymmetric Spillovers
McMillan D (2024) Forecasting the Realized Volatility of Stock Markets: The Roles of Jumps and Asymmetric Spillovers. Journal of Forecasting. https://doi.org/10.1002/for.3219
Article
Li S, Ang SY, Hunter AM, Erdem S, Bostock J, Da CT, Nguyen NT, Moss A, Hope W, Howie C, Newton R, Casteleiro MA & Little D (2024) Building towards One Health: A Transdisciplinary Autoethnographic Approach to Understanding Perceptions of Sustainable Aquatic Foods in Vietnam. Sustainability, 16 (24), pp. 1-23, Art. No.: 10865. https://www.mdpi.com/2071-1050/16/24/10865; https://doi.org/10.3390/su162410865
Article
Cultivating Public Value and Accountability Beyond NPM: A Non-Western Perspective
Ang SY & Danture W (2024) Cultivating Public Value and Accountability Beyond NPM: A Non-Western Perspective. Financial Accountability and Management. https://doi.org/10.1111/faam.12426
Article
Do firms with more powerful CEOs and greater visibility have better social reputation?
Kuzey C, Uyar A, Al-Shaer H & Karaman A (2024) Do firms with more powerful CEOs and greater visibility have better social reputation?. International Journal of Accounting and Information Management. https://doi.org/10.1108/IJAIM-06-2024-0214
Article
Khasawneh M, McMillan D & Kambouroudis D (2024) Left-Tail Risk and UK Stock Return Predictability: Underreaction, Overreaction, and Arbitrage Difficulties. International Review of Financial Analysis, 95 (A), Art. No.: 103333. https://doi.org/10.1016/j.irfa.2024.103333
Article
Internal governance, external pressure, and biodiversity disclosure
Uyar A, Al-Shaer H, Kuzey C & Karaman A (2024) Internal governance, external pressure, and biodiversity disclosure. Journal of International Accounting, Auditing and Taxation.
Article
Towards a wellbeing economy: reflections on wellbeing budgeting in New Zealand and Australia
Moll J, Ang SY, Kuruppu C & Adhikari P (2024) Towards a wellbeing economy: reflections on wellbeing budgeting in New Zealand and Australia. Journal of Public Budgeting, Accounting and Financial Management. https://doi.org/10.1108/jpbafm-11-2023-0197
Article
Performance evaluation in teaching: Dissecting student evaluations in higher education
Cook S, Watson D & Webb R (2024) Performance evaluation in teaching: Dissecting student evaluations in higher education. Studies in Educational Evaluation, 81. https://doi.org/10.1016/j.stueduc.2024.101342
Article
CEO gender, critical mass of board gender diversity, and ESG performance: UK evidence
Al-Shaer H, Zaman M & Albitar K (2024) CEO gender, critical mass of board gender diversity, and ESG performance: UK evidence. Journal of Accounting Literature. https://doi.org/10.1108/JAL-10-2023-0181
Article
Numerological Superstitions and Market-Wide Herding: Evidence from China
Cui Y, Gavriilidis K, Gabka B & Kallinterakis V (2024) Numerological Superstitions and Market-Wide Herding: Evidence from China. International Review of Financial Analysis, 93. https://doi.org/10.1016/j.irfa.2024.103199
Article
Do board monitoring and audit committee quality help risky firms reduce CSR controversies?
Kuzey C, Al-Shaer H, Uyar A & Karaman A (2024) Do board monitoring and audit committee quality help risky firms reduce CSR controversies?. Review of Quantitative Finance and Accounting. https://doi.org/10.1007/s11156-024-01280-6
Article
Corporate Accountability for Human Rights: Evidence from Conflict Mineral Ratings
Al-Shaer H, Albitar K & Hussainey K (2024) Corporate Accountability for Human Rights: Evidence from Conflict Mineral Ratings. Business and Society.
Article
Sustainable products and audit fees: empirical evidence from western European countries
Al Ani MK, ALshubiri F & Al-Shaer H (2024) Sustainable products and audit fees: empirical evidence from western European countries. Sustainability Accounting, Management and Policy Journal. https://doi.org/10.1108/SAMPJ-03-2023-0131
Article
The impact of internal governance mechanisms on environmental performance of Saudi firms
Alwadani N, Al-Shaer H & Khaldoon A (2024) The impact of internal governance mechanisms on environmental performance of Saudi firms. International Journal of Accounting and Information Management, 32 (1), pp. 40-57. https://doi.org/10.1108/IJAIM-04-2023-0084
Book Chapter
Creation and Consumption Experience of Cultural Value in Contemporary Art
Fillis I, Lee B & Fraser I (2023) Creation and Consumption Experience of Cultural Value in Contemporary Art. In: Jung Y, Vakharia N & Vecco M (eds.) The Oxford Handbook of Arts and Cultural Management. Oxford: Oxford University Press. https://doi.org/10.1093/oxfordhb/9780197621615.013.28
Book Chapter
Cultural Value and Professionalization of Emerging Contemporary Artists
Fillis I, Lee B & Fraser I (2023) Cultural Value and Professionalization of Emerging Contemporary Artists. In: Wyszomirski MJ & Chang W (eds.) Abingdon: Routledge, pp. 164-183. https://doi.org/10.4324/9781003138693-11
Editorial
Sustainability Accounting in the Global Context
Al-Shaer H, Albitar K & Li Z (2023) Sustainability Accounting in the Global Context. Sustainability. https://www.mdpi.com/si/135427
Article
Public governance, corporate governance, and excessive ESG
Kuzey C, Al-Shaer H, Karaman A & Uyar A (2023) Public governance, corporate governance, and excessive ESG. Corporate Governance, 23 (7), pp. 1748-1777. https://doi.org/10.1108/CG-01-2023-0028
Article
Do foreign directors reinforce better waste management? The moderating role of eco-innovation
Uyar A, Al-Shaer H, Kuzey C & Karaman A (2023) Do foreign directors reinforce better waste management? The moderating role of eco-innovation. Business Strategy and the Environment. https://doi.org/10.1002/bse.3589
Article
Driving businesses towards a better climate: Macro and micro mechanisms to protect the planet
Al-Shaer H, Liu S & Khaldoon A (2023) Driving businesses towards a better climate: Macro and micro mechanisms to protect the planet. Business Strategy and the Environment. https://doi.org/10.1002/bse.3575
Article
Student dissatisfaction in Higher Education: a ‘fuzzy’ index approach
Cook S, Watson D, Webb A & Webb R (2023) Student dissatisfaction in Higher Education: a ‘fuzzy’ index approach. Studies in Higher Education. https://doi.org/10.1080/03075079.2023.2258933
Article
High-performance athletes’ transition out of sport: developing corporate social responsibility
Hong HJ & Fraser I (2023) High-performance athletes’ transition out of sport: developing corporate social responsibility. International Journal of Sport Policy and Politics. https://doi.org/10.1080/19406940.2023.2242877
Article
Oil price shocks and stock-bond correlation
Ziadat SA, Al Rababa'a ARA, Rehman M & McMillan D (2023) Oil price shocks and stock-bond correlation. North American Journal of Economics and Finance, 68, Art. No.: 101989. https://doi.org/10.1016/j.najef.2023.101989
Article
Al-Shaer H, Uyar A, Kuzey C & Karaman A (2023) Do shareholders punish or reward excessive CSR engagement? The moderating effect of cash flow and firm growth. International Review of Financial Analysis, 88, Art. No.: 102672. https://doi.org/10.1016/j.irfa.2023.102672
Policy Document
Reforming governance within banks
Webb R & Markus K (2023) Reforming governance within banks. Chartered Bankers Institute/Starling Insights. Deeper Dive — UK Parliamentary Commission on Banking Standards: A Global 10-Year Look-Back.
Article
Ketterer S, Dionysiou D, Eierle B & Tsalavoutas I (2023) Validating implied cost of capital with realized returns by using alternative measures of cash-flow news. British Accounting Review. https://doi.org/10.1016/j.bar.2023.101220
Article
Using Interest Rates to Predict Economic Growth: Are Corporate Bonds Better?
McMillan D (2023) Using Interest Rates to Predict Economic Growth: Are Corporate Bonds Better?. International Journal of Finance and Economics.
Article
Do extreme range estimators improve realized volatility forecasts? Evidence from G7 Stock Markets
Korkusuz B, Kambouroudis D & McMillan DG (2023) Do extreme range estimators improve realized volatility forecasts? Evidence from G7 Stock Markets. Finance Research Letters. https://doi.org/10.1016/j.frl.2023.103992
Research Report
Reporting of R&D: Disclosure without Recognition?
Dionysiou D, Slack R, Tsalavoutas Y & Tsoligkas F (2023) Reporting of R&D: Disclosure without Recognition?. Association of Chartered Certified Accountants and Adam Smith Business School. University of Glasgow. https://doi.org/10.36399/gla.pubs.298677
Article
Corporate strategy, board composition, and firm value
Al-Shaer H, Kuzey C, Uyar A & Karaman A (2023) Corporate strategy, board composition, and firm value. International Journal of Finance and Economics. https://doi.org/10.1002/ijfe.2827
Article
Do Financial Markets Predict Macroeconomic Performance? Evidence from Risk-Based Measures
McMillan D (2023) Do Financial Markets Predict Macroeconomic Performance? Evidence from Risk-Based Measures. Manchester School.
Article
CEO power and CSR‑linked compensation for corporate environmental responsibility: UK evidence
Al-Shaer H, Albitar K & Liu J (2023) CEO power and CSR‑linked compensation for corporate environmental responsibility: UK evidence. Review of Quantitative Finance and Accounting, 60, pp. 1025-1063. https://doi.org/10.1007/s11156-022-01118-z
Newspaper Article
Why you should care about recent bumper bank profits
Webb R (2023) Why you should care about recent bumper bank profits. The Conversation. 05.04.2023.
Article
Do Artificial Neural Networks Provide Improved Volatility Forecasts: Evidence from Asian Markets
McMillan D, Kambouroudis D & Sahiner M (2023) Do Artificial Neural Networks Provide Improved Volatility Forecasts: Evidence from Asian Markets. Journal of Economics and Finance.
Article
Brahma S, Gavriilidis K, Kallinterakis V, Verousis T & Zhang M (2023) LGBTQ and finance. International Review of Financial Analysis, 86, Art. No.: 102547. https://doi.org/10.1016/j.irfa.2023.102547
Article
Lee B, Sejas‐Portillo R & Fraser I (2023) Balancing perspectives on performance: “Measurement from the inside” and “measurement from the outside”. Nonprofit Management and Leadership. https://doi.org/10.1002/nml.21561
Article
Corporate Commitment to Climate Change: The Effect of Eco-Innovation and Climate Governance
albitar K, Al-Shaer H & Liu S (2023) Corporate Commitment to Climate Change: The Effect of Eco-Innovation and Climate Governance. Research Policy, 52 (2), Art. No.: 104697. https://doi.org/10.1016/j.respol.2022.104697
Article
Macro Uncertainty Impacts on ESG Performance and Carbon Emission Reduction Targets
Alandejani M & Al-Shaer H (2023) Macro Uncertainty Impacts on ESG Performance and Carbon Emission Reduction Targets. Sustainability, 15 (5), Art. No.: 4249. https://doi.org/10.3390/su15054249
Article
Identities in transition: Audit recruits and the German reunification
Detzen D, Evans L & Hoffmann S (2023) Identities in transition: Audit recruits and the German reunification. Accounting, Organizations and Society. https://doi.org/10.1016/j.aos.2022.101428
Article
Economic Value Added Research: Mapping Thematic Structure and Research Trends
Tripathi PM, Chotia V, Solanki U, Meena R & Khandelwal V (2023) Economic Value Added Research: Mapping Thematic Structure and Research Trends. Risks, 11 (1), Art. No.: 9. https://doi.org/10.3390/risks11010009
Article
Changwony FK & Kyiu A (2023) Business strategies and corruption in SMEs: The impact of business group affiliation, external auditing and international standardisation certification. Business Strategy and the Environment. https://doi.org/10.1002/bse.3333
Article
Revisiting volatility spillovers in the Gulf Cooperation Council
Ziadat S & AlKhouri R (2022) Revisiting volatility spillovers in the Gulf Cooperation Council. Cogent Economics and Finance, 10 (1), Art. No.: 2031683. https://doi.org/10.1080/23322039.2022.2031683
Article
Adaptation of the Five-Step Career Planning Strategy Framework: A Pilot Intervention Case Study
Hong HJ & Fraser I (2022) Adaptation of the Five-Step Career Planning Strategy Framework: A Pilot Intervention Case Study. Case Studies in Sport and Exercise Psychology, 6 (1), pp. 62-69. https://doi.org/10.1123/cssep.2021-0033
Article
The status of people risk management in UK banks
Mabwe K, Ring PJ & Webb R (2022) The status of people risk management in UK banks. Journal of Operational Risk, 17, pp. 83-103. https://www.risk.net/journal-of-operational-risk/7950041/the-status-of-people-risk-management-in-uk-banks; https://doi.org/10.21314/JOP.2022.021
Article
Expected Profitability, the 52-Week High and the Idiosyncratic Volatility Puzzle
Khasawneh M, McMillan D & Kambouroudis D (2022) Expected Profitability, the 52-Week High and the Idiosyncratic Volatility Puzzle. European Journal of Finance. https://doi.org/10.1080/1351847X.2022.2144401
Article
What do Audit Committees do? Transparency and Impression Management
Al-Shaer H, Malik MF & Zaman M (2022) What do Audit Committees do? Transparency and Impression Management. Journal of Management and Governance, 26, pp. 1443-1468. https://doi.org/10.1007/s10997-021-09591-9
Newspaper Article
Banking reforms expert Q&A: will relaxing the rules help the UK economy and what are the risks?
Webb R (2022) Banking reforms expert Q&A: will relaxing the rules help the UK economy and what are the risks?. The Conversation. 09.12.2022.
Newspaper Article
How to understand what’s going on with UK mortgage rates
Webb R (2022) How to understand what’s going on with UK mortgage rates. The Conversation. 14.10.2022. https://theconversation.com/how-to-understand-whats-going-on-with-uk-mortgage-rates-192365
Article
Rababa’a ARA, Alomari M, Rehman MU, McMillan D & Hendawi R (2022) Multiscale relationship between economic policy uncertainty and sectoral returns: Implications for portfolio management. Research in International Business and Finance, 61, Art. No.: 101664. https://doi.org/10.1016/j.ribaf.2022.101664
Article
Korkusuz B, McMillan D & Kambouroudis D (2022) Complex Network Analysis of Volatility Spillovers between Global Financial Indicators and G20 Stock Markets. Empirical Economics. https://doi.org/10.1007/s00181-022-02290-w
Article
Lottery Stocks in the UK: Evidence, Characteristics and Cause
McMillan D, Kambouroudis D & Khasawneh M (2022) Lottery Stocks in the UK: Evidence, Characteristics and Cause. International Journal of Banking, Accounting and Finance.
Article
The role of institutional relationships in shaping the career development of emerging artists
Fillis I, Lee B & Fraser I (2022) The role of institutional relationships in shaping the career development of emerging artists. Arts and the Market, 12 (2), pp. 133-149. https://doi.org/10.1108/aam-04-2022-0021
Article
Dey C & Russell S (2022) Still Flying in the Face of Low-carbon Scholarship? A Final Call for the CSEAR Community to Get on Board. Social and Environmental Accountability Journal. https://doi.org/10.1080/0969160X.2022.2094983
Article
To sell or not to sell? Pricing strategies of newly-graduated artists
Lee B, Fraser I & Fillis I (2022) To sell or not to sell? Pricing strategies of newly-graduated artists. Journal of Business Research, 145, pp. 595-604. https://doi.org/10.1016/j.jbusres.2022.03.035
Article
Al-Shaer H & Hussainey K (2022) Sustainability reporting beyond the business case and its impact on sustainability performance: UK evidence. Journal of Environmental Management, 311, Art. No.: 114883. https://doi.org/10.1016/j.jenvman.2022.114883
Article
Does climate policy uncertainty affect tourism demand? Evidence from time-varying causality tests
Apergis N, Gavriilidis K & Gupta R (2022) Does climate policy uncertainty affect tourism demand? Evidence from time-varying causality tests. Tourism Economics. https://doi.org/10.1177/13548166221110540
Newspaper Article
Inflation: there's a vital way to reduce it that everyone overlooks - raise productivity
McMillan D (2022) Inflation: there's a vital way to reduce it that everyone overlooks - raise productivity. The Conversation. 27.05.2022.
Article
Oil-Stock Nexus: The Role of Oil Shocks for GCC Markets
Ziadat SA & McMillan D (2022) Oil-Stock Nexus: The Role of Oil Shocks for GCC Markets. Studies in Economics and Finance. https://doi.org/10.1108/SEF-12-2021-0529
Article
Creating Sustainability Reports that Matter: an investigation of factors behind the narratives
Al-Shaer H, Albitar K & Hussainey K (2022) Creating Sustainability Reports that Matter: A Deeper Investigation of Factors behind the Narratives. Journal of Applied Accounting Research, 23 (3), pp. 738-763. https://doi.org/10.1108/JAAR-05-2021-0136
Article
Ziadat SA, McMillan D & Herbst P (2022) Oil shocks and equity returns during bull and bear markets: The case of oil importing and exporting nations. Resources Policy, 75, Art. No.: 102461. https://doi.org/10.1016/j.resourpol.2021.102461
Review
Feedback trading: a review of theory and empirical evidence
Economou F, Gavriilidis K, Gebka B & Kallinterakis V (2022) Feedback trading: a review of theory and empirical evidence. Review of Behavioural Finance. https://doi.org/10.1108/rbf-12-2021-0268
Article
Ang SY & Wickramasinghe D (2022) Ethical Disputes, Coordinating Acts and NGO Accountability: Evidence from an NGO river-care programme in Malaysia. Critical Perspectives on Accounting. https://doi.org/10.1016/j.cpa.2022.102416
Article
Virtual Teaching Experience Amidst the Pandemic: A Perspective from the Middle East
Alexander R (2022) Virtual Teaching Experience Amidst the Pandemic: A Perspective from the Middle East. Management and Labour Studies. https://doi.org/10.1177/0258042X211069289
Article
Hong HJ & Fraser I (2022) Organisational Support for High-Performance Athletes to Develop Financial Literacy and Self-Management Skills. Journal of Risk and Financial Management, 15 (1), Art. No.: 17. https://doi.org/10.3390/jrfm15010017
Article
The Time-Varying Relation between Stock Returns and Monetary Variables
McMillan DG (2022) The Time-Varying Relation between Stock Returns and Monetary Variables. Journal of Risk and Financial Management, 15 (1), Art. No.: 9. https://doi.org/10.3390/jrfm15010009
Article
The Predictive Ability Of Stock Market Factors
Elgammal M, Ahmed F & McMillan D (2022) The Predictive Ability Of Stock Market Factors. Studies in Economics and Finance, 39 (1), pp. 111-124. https://doi.org/10.1108/SEF-01-2021-0010
Article
Flipping the classroom: is it the type of flipping that adds value?
Webb R, Watson D, Shepherd C & Cook S (2021) Flipping the classroom: is it the type of flipping that adds value?. Studies in Higher Education, 46 (8), pp. 1649-1663. https://doi.org/10.1080/03075079.2019.1698535
Article
Forecasting U.S. Stock Returns
McMillan D (2021) Forecasting U.S. Stock Returns. European Journal of Finance, 27 (1-2), pp. 86-109. https://doi.org/10.1080/1351847X.2020.1719175
Article
Social Connectedness and Tourism Demand
Gavriilidis K (2021) Social Connectedness and Tourism Demand. Current Issues in Tourism, 24 (14), pp. 1930-1934. https://doi.org/10.1080/13683500.2020.1803222