Research Repository

See what's under the surface


Global engagement and returns volatility (2016)
Journal Article
Girma, S., Lancheros, S., & Riaño, A. (in press). Global engagement and returns volatility. Oxford Bulletin of Economics and Statistics, 78(6), doi:10.1111/obes.12150. ISSN 0305-9049

This paper finds that a greater reliance on foreign market sales increases the volatility of firms’ stock returns using high-frequency data for publicly-listed Japanese manufacturing firms over the period 2000 to 2010. The two margins of global engag... Read More

Investment liberalisation, technology take-off and export market entry: does foreign ownership structure matter? (2015)
Journal Article
Girma, S., Gong, Y., Görg, H., & Lancheros, S. (2015). Investment liberalisation, technology take-off and export market entry: does foreign ownership structure matter?. Journal of Economic Behavior and Organization, 116, doi:10.1016/j.jebo.2015.04.008. ISSN 0167-2681

In the run up to its accession to the WTO in 2001, China has undergone far-reaching investment liberalisation. As part of this investment liberalisation process, existing restrictions on foreign ownership structure and mandatory export and technology... Read More

Is education the best contraception: the case of teenage pregnancy in England? (2015)
Journal Article
Girma, S., & Paton, D. (2015). Is education the best contraception: the case of teenage pregnancy in England?. Social Science and Medicine, 131, doi:10.1016/j.socscimed.2015.02.040. ISSN 0277-9536

This paper examines potential explanations for recent declines in teenage pregnancy in England. We estimate panel data models of teenage conception, birth and abortion rates from regions in England. Although point estimates are consistent with the pr... Read More

Rationalizing the value premium in emerging markets (2013)
Journal Article
Ebrahim, M. S., Girma, S., Shah, M. E., & Williams, J. (2014). Rationalizing the value premium in emerging markets. Journal of International Financial Markets, Institutions and Money, 29, doi:10.1016/j.intfin.2013.11.005. ISSN 1042-4431

We reconfirm the presence of value premium in emerging markets. Using the Brazil–Turkey–India–China (BTIC) grouping during a period of substantial economic growth and stock market development, we attribute the premium to the investment patterns of gl... Read More

Dynamic capital structure and political patronage: the case of Malaysia (2013)
Journal Article
Ebrahim, M. S., Girma, S., Shah, M. E., & Williams, J. (2014). Dynamic capital structure and political patronage: the case of Malaysia. International Review of Financial Analysis, 31, doi:10.1016/j.irfa.2013.11.004. ISSN 1057-5219

This paper investigates the effect of political patronage on firms' capital structure. The evidence is from Malaysia, a country characterised by relationship-capitalism, and covers 1988 to 2009. Using a system GMM estimator we find firms set leverage... Read More

The wage and employment consequences of ownership change (2013)
Journal Article
Amess, K., Girma, S., & Wright, M. (in press). The wage and employment consequences of ownership change. Managerial and Decision Economics, 35(2), doi:10.1002/mde.2650. ISSN 0143-6570

This paper provides a comparative examination of the consequences of leveraged buyouts (LBOs) and corporate takeovers on employment growth and wage growth. Employing both difference-in-differences combined with propensity score matching and the contr... Read More