Centre for Banking, Institutions and Development (CBID)

A research group of the Business School.

The various facets of financial intermediation form the backbone of our financial system and our economy, from traditional maturity transformation activities to securitization and shadow banking. The recent banking crisis highlights instances of financial intermediation failures with widespread systemic effects.

Our challenge is to better understand the nature of risk and adopt policies that match the fast-evolving financial sector.

The Centre for Banking, Institutions and Development (CBID) is involved in a range of on-going research projects examining emerging issues in bank and non-bank financial intermediation from macro- as well as micro-prudential perspectives. We engage with commercial and investment banks and policy makers who have an active interest in our research projects and are also beneficiaries of our research.

Our research, while influencing practice, aims to understand the dynamics of money and banking. Some of our current areas of research include banking efficiency measurement, bank crash risk, systemic risk, liquidity management, and credit information sharing, among others. The centre also has an active interest in studying banking frictions in credit supply and demand, and investigating broader issues in financial sector development, financial inclusion and microfinance.

Visit the Centre's website

Staff

Faculty, Durham University Business School, Mill Hill Lane, Durham DH1 3LB

• Professor Panayiotis Andreou
• Dr Anurag Narayan Banerjee
• Dr Frankie Chau
• Dr Xiaogang Che
• Dr Damian Damianov
• Dr Rataporn Deesomsak
• Professor Kevin Dowd
• Professor Muhammed-Shahid Ebrahim
• Dr Ahmed Elsayed
• Mr Terry Harris
• Dr Guanming He
• Dr Xinyi Huang
• Mr Ian Lincoln
• Dr Anamaria Nicolae
• Dr Michael Nimo
• Dr Nikos Paltalidis
• Professor Dennis Philip
• Dr Rebecca Stratling
• Prof Abderrahim Taamouti
• Professor Julian Williams
• Dr Yeqin Zeng
• Professor Qi Zhang

Publications by staff in this group

Journal Article

• Pendleton, A. & Robinson, A. (2018). Lack of Diversification Amongst Employee Stock Owners: An Empirical Evaluation of Behavioral Explanations. Human Resource Management 57(5): 1175-1187.
• Cai, C. X., McGuinness, P.B. & Zhang, Q. (2018). Credit scores and the performance of newly-listed stocks: An exploration of the Chinese A-share market. Review of Quantitative Finance and Accounting 51(1): 79-111.
• Andreou, P.C., Cooper, I., Louca, C. & Philip, D. (2017). Bank loan loss accounting treatments, credit cycles and crash risk. The British Accounting Review 49(5): 474-492.
• Andreou, P., Christodoulos, L. & Andreas, P. P. (2017). CEO Age and Stock Price Crash Risk. Review of Finance 21(3): 1287-1325.
• Andreou, P.C., Karasamani, I., Louca, C. & Ehrlich, D. (2017). The impact of managerial ability on crisis-period corporate investment. Journal of Business Research 79: 107-122.
• Hung, Chi-Hsiou D., Banerjee, Anurag N. & Meng, Qingrui (2017). Corporate financing and anticipated credit rating changes. Review of Quantitative Finance and Accounting 48(4): 893-915.
• Banerjee, Anurag N., Banik, Nilanjan & Dalmia, Ashvika (2017). Demand for household sanitation in India using NFHS-3 data. Empirical Economics 53(1): 307-327.
• Alsaadi, Abdullah, Ebrahim, M.S. & Jaafar, A. (2017). Corporate Social Responsibility, Shariah-Compliance, and Earnings Quality. Journal of Financial Services Research 51(2): 169-194.
• Ebrahim, M.S., Molyneux, P. & Ongena, S. (2017). Finance and Development in Muslim Economies. Journal of Financial Services Research 51(2): 165-167.
• Boubaker, S., Gounopoulos, D., Nguyen, D.K. & Paltalidis, N. (2017). Assessing the effects of unconventional monetary policy and low interest rates on pension fund risk incentives. Journal of Banking and Finance 77: 35-52.
• Whitfield, K., Pendleton, A., Sengupta, S. & Huxley, K. (2017). Employee Share Ownership and Organisational Performance: A Tentative Opening of the Black Box. Personnel Review 46(7): 1280-1296.
• Pendleton, A., Bryson, A. & Gospel, H. (2017). Ownership and pay in Britain. British Journal of Industrial Relations 55(4): 688-715.
• Cai, C.X., Mobarek, A. & Zhang, Q. (2017). International Stock Market Leadership and its Determinants. Journal of Financial Stability 33: 150-162.
• Andreou, P., Louca, C. & Petrou, A. P. (2016). Organizational Learning and Corporate Diversification Performance. Journal of Business Research 69(9): 3270-3284.
• Banerjee, A., Hung, C-H. D. & Lo, K. L. (2016). An Anatomy of Credit Risk Transfer between Sovereign and Financials in the Eurozone Crisis. Journal of International Financial Markets, Institutions and Money 41: 102-120.
• Che, X. & Klumpp, T. (2016). Entry Deterrence in Dynamic Second-Price Auctions. American Economic Journal: Microeconomics 8(2): 168-201.
• Ebrahim, M. S., Jaafar, A., Omar, F. A. & Salleh, M. O. (2016). Can Islamic Injunctions Indemnify the Structural Flaws of Securitized Debt?. Journal of Corporate Finance 37: 271-286.
• Andreou, P., Philip, D. & Robejsek, P. (2016). Bank liquidity creation and risk-taking: Does managerial ability matter?. Journal of Business Finance and Accounting 43(1-2): 226-259.
• Andreou, P., Antoniou, C., Horton, J. & Louca, C. (2016). Corporate Governance and Firm-specific Stock Price Crashes. European Financial Management 22(5): 916-956.
• Cai, C. X. & Zhang, Q. (2016). High-Frequency Exchange Rate Forecasting. European Financial Management 22(1): 120-141.
• Toms, S. & Zhang, Q. (2016). Marks & Spencer and the Decline of the British Textile Industry, 1950-2000. Business History Review 90(01): 3-30.
• Banerjee, A., Nilbanik, N. & Mukhopadhyay, J. (2015). The Dynamics of Income Growth and Poverty: Evidence from Districts in India. Development Policy Review 33(3): 293-312.
• Balloch, A., Nicolae, A. & Philip, D. (2015). Stock market literacy, trust, and participation. Review of Finance 19(5): 1925-1963.
• Andreou, P. (2015). Effects of market default risk on index option risk-neutral moments. Quantitative Finance 15(12): 2021-2040.
• Paltalidis, N., Gounopoulos, D., Kizys, R. & Koutelidakis, Y. (2015). Transmission Channels of Systemic Risk and Contagion in the European Financial Network. Journal of Banking and Finance 61(1): S36-S52.
• He, G. (2015). The effect of CEO inside debt holdings on financial reporting quality. Review of Accounting Studies 20(1): 501-536.
• Zhang, Q., Vallascas, F., Keasey, K. & Cai, C. X. (2015). Are Market-Based Measures of Global Systemic Importance of Financial Institutions Useful to Regulators and Supervisors?. Journal of Money, Credit and Banking 47(7): 1403-1442.
• Banerjee, A. & Banik, N. (2014). Is India Shining?. Review of Development Economics 18(1): 59-72.
• Ebrahim, M. S., Mathur, I. & Gwilym, R. A. (2014). Integrating corporate ownership and pension fund structures: A general equilibrium approach. Journal of Banking & Finance 49: 553-569.
• Andreou, P.C. , Charalambous, C. & Martzoukos,S. (2014). Assessing the performance of symmetric and assymetric implied volatility functions. Review of Quantitative Finance and Accounting 42(3): 373-397
• Luque, J. & Taamouti, A. (2014). Did the Euro Change the Effect of Fundamentals on Economic Uncertainty?. The B.E. Journal of Macroeconomics 14(1): 625-660.
• Feunou, B., Fontaine, J.S., Taamouti, A. & Tédongap, R. (2014). Risk Premium, Variance Premium, and the Maturity Structure of Uncertainty. Review of Finance 18(1): 219-269.
• Afonso, A., Gomes, P. & Taamouti, A. (2014). Sovereign Credit Ratings and Financial Markets Volatility. Computational Statistics and Data Analysis 76: 20-33.
• Kuvandikov, A., Pendleton, A. & Higgins, D. (2014). Employment change after takeovers: the role of executive ownership. British Journal of Industrial Relations 52(2): 191-236.
• Zhang, Q., Cai, C.X. & Keasey, K. (2014). The profitability, costs and systematic risk of the post-earnings announcement drift trading strategy. Review of Quantitative Finance & Accounting 43(3): 605-625.
• Zhang, Q., Cai, C.X. & Keasey, K. (2013). Market reaction to earnings news: A unified test of information risk and transaction costs. Journal of Accounting and Economics 56(2-3): 251-266.