Outputs (17)

A conditional higher-moment CAPM (2023)
Journal Article
Vendrame, V., Guermat, C., & Tucker, J. (2023). A conditional higher-moment CAPM. International Review of Financial Analysis, 86, 102524. https://doi.org/10.1016/j.irfa.2023.102524

This paper investigates whether dynamic and moment extensions to the traditional CAPM can improve its empirical performance and offer some alternative explanation to the cross-section of average returns on portfolios of stocks double sorted on book-t... Read More about A conditional higher-moment CAPM.

Managerial optimism and investment decision in the UK (2021)
Journal Article
El-Gebeily, E., Guermat, C., & Vendrame, V. (2021). Managerial optimism and investment decision in the UK. Journal of Behavioral and Experimental Finance, 31, Article 100519. https://doi.org/10.1016/j.jbef.2021.100519

We investigate the impact of managerial optimism on investment decision sensitivity to cash flow. Optimists tend to overestimate returns and make overly optimistic cash flow forecasts, which leads to increased investment levels, as well as increased... Read More about Managerial optimism and investment decision in the UK.

The effect of downsizing on innovation outputs: The role of resource slack and constraints (2020)
Journal Article
Ramdani, B., Guermat, C., & Mellahi, K. (2021). The effect of downsizing on innovation outputs: The role of resource slack and constraints. Australian Journal of Management, 46(2), 346-365. https://doi.org/10.1177/0312896220970609

Although the practice of downsizing is prevalent, its effects on organisational outcomes remain poorly understood. This article examines how and when downsizing affects organisational innovation. Using a unique data set of UK firms over a period of 2... Read More about The effect of downsizing on innovation outputs: The role of resource slack and constraints.

The impact of economic value added (EVA) adoption on stock performance (2020)
Journal Article
Shishany, A. A., Al-Omush, A., & Guermat, C. (2020). The impact of economic value added (EVA) adoption on stock performance. Accounting, 6(5), 687-704. https://doi.org/10.5267/j.ac.2020.6.015

© 2020 by the authors; licensee Growing Science, Canada. The adoption of EVA as a compensation and management plan, generally, impacts positively the performance of companies adopting this method. However, this paper examines whether the adoption of... Read More about The impact of economic value added (EVA) adoption on stock performance.

Business models innovation in investment banks: A resilience perspective (2020)
Journal Article
Ramdani, B., Binsaif, A., Boukrami, E., & Guermat, C. (2022). Business models innovation in investment banks: A resilience perspective. Asia Pacific Journal of Management, 39, 51–78. https://doi.org/10.1007/s10490-020-09723-z

© 2020, The Author(s). Firms frequently change their business models in order to respond to internal and external challenges. This study aims to explore how investments banks adjust their business models in response to internal and external challenge... Read More about Business models innovation in investment banks: A resilience perspective.

The interaction between academia and industry and its impact on national innovation capacity: The case of Algeria (2020)
Journal Article
Saad, M., Guermat, C., & Bourifout, Z. (2021). The interaction between academia and industry and its impact on national innovation capacity: The case of Algeria. Industry and Higher Education, 35(5), 570-580. https://doi.org/10.1177/0950422220931418

The role of higher education institutions (HEIs) in developing the innovative capacity of societies is well recognised. That role is accomplished through the creation and dissemination of knowledge, the success of which is dependent on the types and... Read More about The interaction between academia and industry and its impact on national innovation capacity: The case of Algeria.

Higher education teaching and training system and economic performance: An empirical investigation (2019)
Journal Article
Bouchakour, R., Saad, M., & Guermat, C. (2019). Higher education teaching and training system and economic performance: An empirical investigation. Journal of Education and Work, 32(5), 500-517. https://doi.org/10.1080/13639080.2019.1673885

© 2019, © 2019 Informa UK Limited, trading as Taylor & Francis Group. This paper investigates the impact of higher education characteristics on economic performance. Despite a relatively plethoric literature, there is still a clear lack of understa... Read More about Higher education teaching and training system and economic performance: An empirical investigation.

The long-term effect of economic value added adoption on the firm’s business decision (2019)
Journal Article
Guermat, C., Misirlioglu, I. U., & Al-Omush, A. (2019). The long-term effect of economic value added adoption on the firm’s business decision. Accounting Research Journal, 32(3), 496-513. https://doi.org/10.1108/ARJ-01-2018-0018

© 2019, Emerald Publishing Limited. Purpose: This study aims to examine the long-term effects of adopting economic value added (EVA) as a compensation tool on managers’ behaviour. Design/methodology/approach: The authors extend the sample used in pri... Read More about The long-term effect of economic value added adoption on the firm’s business decision.

Why do firms invest in accounts receivable? An empirical investigation of the Malaysian manufacturing sector (2018)
Journal Article
Devi, S., Paul, S. Y., Paul, S., Guermat, C., & Devi, S. (2018). Why do firms invest in accounts receivable? An empirical investigation of the Malaysian manufacturing sector. Journal of Accounting in Emerging Economies, 8(2), 166-184. https://doi.org/10.1108/JAEE-01-2017-0005

© 2018, Emerald Publishing Limited. Purpose: The purpose of this paper is to investigate the factors that influence Malaysian manufacturing sector investment in accounts receivable (AR), an asset seen by many as one of the riskiest in any company’s b... Read More about Why do firms invest in accounts receivable? An empirical investigation of the Malaysian manufacturing sector.

A conditional regime switching CAPM (2017)
Journal Article
Vendrame, V., Guermat, C., & Tucker, J. (2018). A conditional regime switching CAPM. International Review of Financial Analysis, 56, 1-11. https://doi.org/10.1016/j.irfa.2017.12.001

© 2017 Elsevier Inc. The standard Capital Asset Pricing Model (CAPM) is simple, intuitive, and grounded in sound economic theory. Yet, almost half a century's worth of empirical testing has so far failed to demonstrate its relevance. One major reason... Read More about A conditional regime switching CAPM.