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Corporate finance research

Explore our work in corporate finance, one of our 3 areas of research expertise in Finance


Corporate finance is divided into 3 interconnected strands: the raising of finance by a corporation, the making of investment decisions, and the distribution of profit from those decisions. The common thread running through each – and through our research in the topic – is that capital should be allocated efficiently, and not wasted.

Among our many projects, we're exploring how small businesses can benefit from relationship banking. We're also studying how firms can reduce the underpricing of Initial Public Offerings (IPOs) by making financial contributions by either political lobbying or campaign financing, and examining how the performance of an IPO is impacted by the strength of the human capital in a firm's top management. 

Our research covers the following key topics
 

  • The role of political connections with IPOs in addition to the role of underwriters, auditors and venture capitalists
  • The role of credit ratings in capital markets
  • Mergers and acquisitions, and related topics
  • The dividend policy of a firm and its effect on the firm’s value
  • Borrowing from banks or raising equity through the stock markets
  • Choosing between competing projects
  • Allocating profits between share dividends or retaining and reinvesting profits

Methods

We use mainly quantitative methods in our Corporate Finance research, primarily in the form of multivariate regressions.

Publication highlights

Earnings management in the aftermath of the zero-earnings discontinuity disappearance

Journal of Applied Accounting Research, 19:3, 2018, pages 401-422, Naser Makarem, Professor Khaled Hussainey, Alaa Zalata

 

Female CEOs and core earnings quality: new evidence on the ethics versus risk-aversion puzzle

Journal of Business Ethics, 2018, https://doi.org/10.1007/s10551-018-3918-y, Alaa Mansour Zalata, Collins Ntim, Dr Ahmed Aboud, Ernest Gyapong

 

Management earnings forecasts and IPO performance: evidence of a regime change

Journal Review of Quantitative Finance and Accounting, 48:4, pages 1083-1121, Dr Konstantinos Kallias, Professor Sabri Boubaker, Dimitrios Gounopoulos, Dr Antonios Kallias

 

Political money contributions of U.S. IPO

Journal of Corporate Finance, Volume 43, 2016, pages 19-38, DOI: 10.1016/j.jcorpfin.2016.12.011, Dimitrios Gounopoulos, Dr Antonios Kallias, Dr Konstantinos Kallias, Panayiotis G. Tzeremes

 

Discover our areas of expertise

Corporate finance is one of 3 areas of expertise in our Finance research – explore the others below.

Banking and financial markets

Our banking and financial markets research examines the functioning of financial markets and the institutions that operate in those markets.
Read more

Fintech and microfinance

We're investigating the technologies changing the financial sector (FinTech) and the upstart financial services (Microfinance) challenging the status quo of traditional banking.
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Interested in a PhD in Finance?

Browse our postgraduate research degrees – including PhDs and MPhils – at our Finance postgraduate research degrees page.