Centre for Empirical Research in Finance and Banking (CERFIB) 

The Centre for Empirical Research in Finance and Banking (CERFIB) would aim to increase our understanding of the contemporary challenges that corporations, financial markets and banks are facing in the rapidly developing national and global landscape.  It also aims to explore the links through which the financial and banking sectors are affecting real economic and social outcomes. The empirical nature of the research of CERFIB allows for an evidence-based approach in achieving these aims.

A central aim of this centre is to bridge theory and practice through cross-disciplinary research collaboration – one that fully aligns with the School’s as well as the University’s strategic objectives. The CERFIB recognizes that the diverse empirical results researchers often obtain using the same theory depends largely on ‘translating each element of the theory into a robust empirical framework’. The rest depends on the availability and/or development of state-of-the-art tools to approximate the predictive outcomes of the empirical work to that of the reality.

The CERFIB is committed to contribute extensively to the rigorous process of integration of theory into practice and at the same time to develop new research tools to advance our thinking on the empirical implications of banking and financial subjects. The CERFIB has a group of highly motivated academics along with practitioners in the area of banking and finance. The centre’s core research dynamics is also strengthened by an effective outdegree network with high-profile external members, who deeply engage with the centre’s academics in research activities. Together, the centre supports, enhances and facilitates a cohesive research environment.

The CERFIB has its aim on transforming the knowledge capital from the cohesive synergies of multidisciplinary work into the tangible benefits for the academic community, practitioners and students.

Research Themes

Core Research Themes:

• Empirical Corporate Finance:  firm efficiency and performance, equity finance, IPOs, corporate governance, behavioural finance, dividend policy, capital structure, corporate bonds.
• Empirical Banking: Bank productivity, efficiency, and performance, bank risk management, bank competition and regulation, syndicated lending, bank corporate governance, bank globalisation. 
• Empirical Asset Pricing: portfolio management and analysis, asset price volatility, option pricing, stock returns and predictability, stock price synchronisation, stock market internationalisation.
• Quantitative finance and banking (applications): Financial economics and econometrics, implications of heterogeneous distributions and long-memory in testing market efficiency and modelling dynamic interdependence.

Cross-Disciplinary Research Themes:

When an opportunity arises, members of the CERFIB also engage into research the following brad cross-disciplinary research themes.

• Real Effects of Finance and Banking: Explore the effects of the finance and banking sector on real economic and social outcomes such as SMEs access to finance, entrepreneurship, innovation, poverty, inequality, and life satisfaction. 
• Ethical and Sustainable Finance and Investments: green investments, microfinance, Islamic banking and finance, corporate social responsibility and finance, climate change and finance.