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Maher Asal

Professor

Staff member at Division of law, politics and economics.

Conducts research in social sciences, economics and business, economics.


Education

Helwan University, Bachelor of Commerce and Business Administration
Gothenburg University, Ph.D.

Expertise: Corporate Finance; Asset Pricing; Risk Management; Real Estate Finance, and International Finance;

Research area

Research linked to the real estate market is one of my focus areas. Three other areas have been the center of my research: corporate finance (such as cost of capital), international finance (such as exchange rate determination), equity markets and risk management (such as equity returns and portfolio risk).

Biography

I have held a faculty position as Assistant Professor in Economics and Finance at Gothenburg University before moving in 2000 to Gävle University in Sweden, where I was a Lecturer in Financial Economics. I moved to University West in 2004 and became Associate Professor and then a Full Professor. I am a member of the Financial Management Association (FMA).

I am one of the founders and developers of the Broker Economic Program at University West and the initiator of the Master of Science in Finance program at University West. My research and teaching have focused on Corporate Finance, Asset Pricing, International Finance, Risk Management, and Real Estate Finance.  In these areas, I have published numerous journal articles and books; the most recent upcoming publication is entitled “Is there a Bubble in the Swedish Housing Market?”

Keywords

Corporate Finance; Asset Pricing; Risk Management; Real Estate Finance; and International Finance.

Supervision

I am the main supervisor and examiner for a number of graduates and master's students.

Creative Scholarly Work and Publications

Is there a Bubble in the Swedish Housing Market? Journal of European Real Este Research, Forthcoming;

Long-run drivers and short-term dynamics of Swedish real house prices. International Journal of Housing Markets and Analysis, September, 2017;

Testing for the Presence of Skill in Swedish Mutual Fund Performance: Evidence from a Bootstrap Analysis. Journal of Economics and Business, 2016. The most downloaded article from Journal of Economics and Business in the last 90 days.

Estimating the Cost of Equity Capital of the Banking Sector in the Eurozone. Journal of Applied Banking and Finance, 5(6); 2015;

Do Size and Value Premia Vary Across Industry and Market Conditions?  Evidence from the Euro Area. Journal of Business and Policy Research, Vol. 10. No. 1. July 2015 (with M., Jalilvand & Rolseth, L.) Best Paper Award; Eurasia Business Research Conference;

Has the Euro Boosted Equity Markets in the Euro Area? Journal of Business Administration Research, Vol 1, No 2; 2012;

Non-linear Growth Impacts of Financial Development in Euro Area. International Journal of Economics and Finance, .Vol 4, No 12 (2012);

The impact of Euro on Sectoral Equity returns and portfolio risk, Journal of international Advances in Economic Research, 2011, vol. 17, issue 2, pages 119-133;

The Application of Equity Index Futures in Portfolio Management Strategies; An Empirical Study”, Wissenschaftlliger Verlag Berlin, 2007, ISBN 978-3-86573-287-3 (with  Schäfer, Christian);

Real and Monetary Determination of the Egyptian Real Exchange Rate , African Development Review, Volume 8, Issue 2, pages 20–36, December 1996;

Real Exchange Rate Determination and the Adjustment Process: An Empirical Study in the Cases of Sweden and Egypt". Published, Gothenburg University, 1994; ISBN 91-88514-13-7;

Reviewer for the Global Finance Journal, Elsevier B.V., Radarweg 29, 1043 NX Amsterdam, the Netherlands, Reg. No. 33156677;

Reviewer of conference papers presented at the 4th conference on Contemporary Problems in Corporate Governance, 6-8 May 2015, the Faculty of Management, University of Gdansk, Sopot, Poland;

Reviewer for International Journal of Housing Markets and Analysis;

McDowell, Thom, Pastine, Frank and Bernanke, Principles of Economics, Third European Edition, Review of draft chapters for third edition, McGraw- Hill companies, 2011;

Editor of the Research Report “Contemporary Problems in Corporate Governance”, University West, 2016;

Publications


Contemporary Problems in Corporate Governance : Revised Papers presented at the 4th conference on Contemporary Problems in Corporate Governance, 6-8 May, 2015, the Faculty of Management, University of Gdansk, Sopot, Poland.

Published

Contemporary Problems in Corporate Governance : Revised Papers presented at the 4th conference on Contemporary Problems in Corporate Governance, 6-8 May, 2015, the Faculty of Management, University of Gdansk, Sopot, Poland.

Do Size and Value Premia Vary Across Industry and Market Conditions? : Evidence from the Euro Area

Published

Do Size and Value Premia Vary Across Industry and Market Conditions? : Evidence from the Euro Area

This paper investigates whether value and size premia exist in the Euro area’s industry returns and, if so, what factors are driving them. We use...

Estimating the Cost of Equity Capital of the Banking Sector in the Eurozone

Published

Estimating the Cost of Equity Capital of the Banking Sector in the Eurozone

The objectives of this paper are, first, to estimate the long-run cost of equity capital for the banking sector using data from the Eurozone, US, U...

Has the Euro Boosted Equity Markets in the Euro Area?

Published

Has the Euro Boosted Equity Markets in the Euro Area?

This paper analyses the impact of the Euro on the development of equity markets in the Euro area and compares the results with those of the United...

Is there a bubble in the Swedish housing market?

Published

Is there a bubble in the Swedish housing market?

Purpose This paper aims to investigate the presence of a housing bubble using Swedish data from 1986Q1-2016Q4 by using various methods....

Long-run drivers and short-term dynamics of Swedish real house prices

Published

Long-run drivers and short-term dynamics of Swedish real house prices

Purpose This paper aims to assess the long-run drivers and short-term dynamics of real house prices in Sweden for 1986Q1 to 2016Q4. More...

Long-Run Drivers and Short-Term Dynamics of the Swedish Real House Prices

Published

Long-Run Drivers and Short-Term Dynamics of the Swedish Real House Prices

This paper uses cointegration and vector autoregressive (VAR) model to investigate the long-run drivers and short-term dynamics of the real house...

Non-linear Growth Impacts of Financial Development in Euro Area

Published

Non-linear Growth Impacts of Financial Development in Euro Area

Using GMM model and data from 11 Euro Area countries and 5 non-Euro countries over the period 1989 to 2011, we explore the nonlinear effects of...

Testing for the presence of skill in Swedish mutual fund performance : Evidence from a bootstrap analysis

Published

Testing for the presence of skill in Swedish mutual fund performance : Evidence from a bootstrap analysis

We use a pooled panel bootstrap procedure and different benchmark models of performance to investigate presence of skill in mutual fund performance...

The Application of Equity Index Futures in Portfolio Management Strategies : An Empirical Study

Published

The Application of Equity Index Futures in Portfolio Management Strategies : An Empirical Study

The purpose of this book is to analyse how investors can reduce the systematic risk of a portfolio of stocks by using equity index futures, and how...

The Impact of Euro on Sectoral Equity Returns and Portfolio Risk

Published

The Impact of Euro on Sectoral Equity Returns and Portfolio Risk

This paper examines the implications of the adoption of the euro and the resulting monetary policy integration for investors in the Euro area in...

Research projects