The Global Centre for Banking and Financial Innovation


Thank you for visiting the publications page of the Centre for Risk, Banking and Financial Services. Here, we list the most recent core staff publications.  Unfortunately, we are not able to provide pdfs of these articles, as copyright has passed to the journals concerned.

 Journal Articles


Chadwick, S, Devlin, J F, Sekhon, H and Roy, S., "Corporate image and a sport?s governing body", Service Industries Journal, forthcoming.

Sanjay Banerji, Meryem Duygun, Mohamed Shaban., "Political Connections, Bailout in Financial Markets and Firm Value", Journal of Corporate Finance, forthcoming.



Moin, s,; Devlin, J,; McKechnie, S., "Magic of Branding: The role of 'Pledge'. 'Turn' and 'Prestige' in Fostering Consumer Trust in Financial Services", Journal of Financial Services Marketing, forthcoming.

Simper, R.; Hall, M.J.; Liu, W.; Zelenyuk, V.; Zhou, Z., "How Relevant is the Choice of Risk Management Control Variable to Non-parametric Bank Profit Efficiency Analysis? The Case of South Korean Banks", Annals of Operations Research, pp. 1-23, forthcoming 2016, DOI: 10.1007/s10479-015-1946-x.

Bryce, C; Cheevers,C; Webb, R; Ring, P; Clark, G., "Should the Insurance Industry be Banking on Risk Escalation for Solvency II?", International Review of Financial Analysis, forthcoming.

Amess, K.; Stiebale, J.; Wright, M., "The impact of private equity on firm's patenting activity", European Economic Review, Vol.86, 147-160.

Wright, M.; Wilson, N.; Gilligan, J.; Bacon, N.; Amess, K., "Brexit, Private Equity and Management", British Journal of Management, Vol.27(4), 682-686, forthcoming.

Abdelselam, O.; Duygun, M.; Matallín Sáez, J.C.; Tortosa-Ausina, E., "Is Ethical Money Sensitive to Past Returns? The Case of Portfolio Constraints and Persistence of Islamic and Socially Responsible Funds", Journal of Financial Services Research, forthcoming.

Aysan, A.F.; Disli, M.; Duygun, M; Ozturk. H., "Islamic Banks, Deposit Insurance Reform, and Market Discipline: Evidence from a Natural Framework", Journal of Financial Services Research, pp.1-26, forthcoming.

Duygun, M.; Kaulich, F.; Isaksson, A., "Did the global financial crisis hit Africa? Insights from a multi-country firm level survey", Economic Modelling, forthcoming.

Duygun, M.; Kenjegaliev, A.; Mamedshakhova, D., "Do rating grades convey important information: German evidence?", Economic Modelling, Vol.53, 334-344.

Duygun, M.; Ozturk, H.; Shaban, M., "The Role of Sovereign Credit Ratings in Fiscal Discipline", Emerging Markets Review, Vol.27, 197-216.

Duygun, M.; Sena, V.; Shaban, M., "Trademarking activities and total factor productivity: some evidence for British commercial banks using a metafrontier approach", Journal of Banking and Finance, forthcoming.

Duygun, M.; Shaban, M.; Fry, J., "SME's Lending and Islamic Finance: Is it a win-win Situation?", Economic Modelling, Vol.55.

Duygun, M; Prior, D.; Shaban, M.; Tortosa-Ausina, E., "Disentangling the European airlines efficiency puzzle: A network Data Envelopment Analysis approach", Omega: The International Journal of Management Science, Vol.60, 2-14, forthcoming.

McKechnie, S.; Nath, P., "Effects of new-to-market e-store features on first time browsers", International Journal of Human-Computer Studies, Vol.90, pp. 14-26, forthcoming.

Nath, P.; McKechnie, S., "Task facilitative tools, choice goals, and risk averseness: A process-view study of e-stores", Journal of Business Research, Vol.69, pp. 1572-1576.

Chuah, S.; Gaechter, S.; Hoffmann, R.; Tan, J., "Religion, Discrimination and Trust Across Three Cultures.", European Economic Review, forthcoming.

Chuah, S.; Hoffmann, R.; Ramasamy, B.; Tan, J., "Is There a Spirit of Overseas Chinese Capitalism?", Small Business Economics, pp, 1-24.

Kritikos, A.; Tan, J., "Influence in the Face of Impunity", Economics Letters, Vol.141, pp. 119-121, doi:10.1016/j.econlet.2016.02.020.

Löfstedt, R.; Wardman, J. K. , "State of the art transparency: lessons from Europe and North America", Journal of Risk Research, Vol.19(9), 1079-1081.

Mythen, G.; Wardman, J. K., "Communicating risk under high uncertainty: developing cross-disciplinary knowledge", Journal of Risk Research, Vol.19(10), 1217-1219.

Wardman, J. K.; Mythen, G., "Risk communication: against the Gods or against all odds? Problems and prospects of accounting for Black Swans", Journal of Risk Research, Vol.19(10), 1220-1330.

Mabwe, K; Ring, P; Webb, R., "Operational risk and the three lines of defence in UK financial institutions: Is three really the magic number?", Journal of Operational Risk, forthcoming.



Roy, S K, Devlin, J F and Sekhon, H., "The Impact of Fairness on Trustworthiness and Trust in Banking", Journal of Marketing Management, Vol.31(9), pp. 996-1017.

Mustikaa, G.; Suryatin, E.; Djaafara, R.A.; Hall, M.J.; Simper, R., "Did Bank Indonesia Cause the Credit Crunch of 2006-08?", Review of Quantitative Finance and Accounting, Vol.44 (2), pp. 269-298, doi: 10.1007/s11156-013-0406-4.

Rogge, N.; Simper, R.; Verschelde, M.; Hall, M., "An analysis of managerialism and performance in English and Welsh male Prisons", European Journal of Operational Research, Vol.241, pp. 224-235.

Amess, K.; Banerji, S.; Lampousis, A., "Corporate cash holdings causes and consequences", International Review of Financial Analysis, Vol.42, pp. 421-433.

Bryce, C.; Dadoukis, A.; Hall, M.; Nguyen, L.; Simper, R., "An analysis of loan loss provisioning behaviour in Vietnamese banking", Finance Research Letters, forthcoming.

Duygun, M.; Shaban, M.; Sickles, R.C.; Weyman-Jones, T.G., "How regulatory capital requirement affects banks' productivity: An application to emerging economies", Journal of Productivity Analysis, Vol.44, 237-248.

Duygun, M.; Shaban, M.; Weyman-Jones. T.G., "Measuring Competition using the Boone Relative Profit Difference Indicator: an application to Banking Systems in Emerging Economies", Economics Letters, Vol.132, 117-120.

Moin, S.; Devlin, J.; McKechnie, S., "Trust in financial services: Impact of institutional trust and dispositional trust on trusting belief", Journal of Financial Services Marketing, Vol.20 (2), pp. 91-106.

Tan, J.; Breitmoser, Y.; Bolle, F., "Voluntary Contributions by Consent or Dissent", Games and Economic Behavior, Vol.92, pp. 106-121.

Webb, R.; Watson, D.; Cook, S.; Arico, F., "Graduate views on access to Higher Education: is it really a case of pulling up the ladder?", Studies in Higher Education, pp. 1-16, forthcoming, DOI: 10.1080/03075079.2015.1049143.



Devlin, J.; Roy, S.k.; Sekhon, H., "Perceptions of Fair Treatment in Financial Services: Development, Validation and Application of a Fairness Measurement Scale", European Journal of Marketing, Vol.48 (7/8), pp. 1-18.

Nath, P.; Devlin, J.; Reid, V., "Expectation formation in case of newer hotels: The role of advertising, price, and culture", Journal of Travel Research, Vol.55 (2), pp. 261-275.

Sekhon, H.; Ennew, C.; Kharouf, H.; Devlin, J., "Trustworthiness and Trust: Influences and Implications", Journal of Marketing Management, Vol.30 (3-4), pp. 409-430.

Amess, K.; Girma, S.; Wright, M., "The wage and employment consequences of ownership change", Managerial and Decision Economics, Vol.35 (2), pp. 161-171.

Chernobai, A.; Wahrenburg, M.; Barakat, A., "Information asymmetry around operational risk announcements", Journal of Banking and Finance, Vol.48, pp. 152-179.

Tynan, C.; McKechnie, S.; Hartley, S., "Interpreting value in the customer service experience using customer dominant logic", Journal of Marketing Management, Vol.30 (9-10), pp. 1058-1081, DOI:10.1080/0267257X.2014.934269.

Breitmoser, Y.; Tan, J.; Zizzo, D., "On the Beliefs off the Path: Equilibrium Refinement due to Quantal Response and Level-k", Games and Economic Behavior, Vol.86, pp. 102-125.

Chuah, S.; Hoffmann, R.; Ramasamy, B.; Tan, J., "Religion, Ethnicity and Cooperation: An Experimental Study", Journal of Economic Psychology, Vol.45, pp. 33-43.

Bolle, F.; Tan, J.; Zizzo, D., "Vendettas", American Economic Journal: Microeconomics, Vol.6 (2), pp. 93-130.
Wardman, J.K., "Sociocultural vectors of effective risk communication", Journal of Risk Research, Vol.17(10), 1251-1257.

Jaffer, K.; Mabwe, K.; Webb, R., "Changing Bank Income Structure: Evidence from Large UK Banks?", Asian Journal of Finance And Accounting, Vol.6 (2).

Ring, P.; Bryce, C.; Webb, R., "Taking notice of risk culture - the regulator's approach", Journal of Risk Research, forthcoming.

Webb, R.; Ring, P.; Watson, D.; Bryce, C., "Pension Confusion, Uncertainty and Trust in Scotland: An Empirical Analysis", Journal of Social Policy, Vol.43 (3), pp. 595-613.



Ashby, S.; Peters, L.; Devlin, J., "When an irresistible force meets an immovable object: The interplay of agency and structure in the UK Financial Crisis", Journal of Business Research, Vol.67 (1), pp. 2671-2683, Special issue on Avoiding/Responding to Global Economic Disasters.

Devlin, J.; Ennew, C.; McKechnie, S.; Smith, A., "Would You Believe It? A detailed investigation of believability in comparative price advertising", Journal of Marketing Management, pp. 1-19, DOI:10.1080/0267257X.2012.715489.
Worthington, S.; Devlin, J., "Fairness and Financial Services in Australia and the United Kingdom", International Journal of Bank Marketing, Vol.31 (4), pp. 289-304.

Hadad, M.D.; Hall, M.J.; Santoso, W.; Simper, R., "Identifying Merger Potential in Indonesian Banks'", Journal of Asian Economics, Vol.26, pp. 42-51, doi:10.1016/j.asieco.2013.04.006.
Hall, M.J.; Liu, W.; Simper, R.; Zhou, Z., "The Economic Efficiency at Rehabilitative Management in Young Offender Institutions in England and Wales'", Socio Economic Planning Sciences, Vol.47, pp. 38-49, doi:10.1016/j.seps.2012.10.002..

Hall, M.J.; Simper, R., "Efficiency and Competition in Korean Banking", Applied Financial Economics, Vol.23, pp. 881-890, doi:10.1080/09603107.2013.776661.

Alperovych, Y.; Amess, K.; Wright, M., "Private Equity Firm Experience and Buyout Vendor Source: What is their Impact on Efficiency?", European Journal of Operational Research, Vol.228 (3), pp. 601-611.

Barakat, A.; Hussainey, K., "Bank governance, regulation, supervision, and risk reporting: Evidence from operational risk disclosures in European banks", International Review of Financial Analysis, Vol.30, pp. 254-273.

Abou Aish, E.; McKechnie, S.; Abosag, I.; Hassan, S., "The Mystique of Macro-Boycotting Behaviour: A Conceptual Framework", International Journal of Consumer Studies, Vol.37 (2), pp. 165-171, DOI: 10.1111/j.1470-6431.2012.01108.x.

Breitmoser, Y.; Tan, J., "Reference Dependent Altruism in Demand Bargaining", Journal of Economic Behavior and Organization, Vol.92, pp. 127-140.

Hargreaves Heap, S.; Tan, J.; Zizzo, D., "Trust, Inequality and the Market", Theory and Decision, Vol.74 (3), pp. 311-333.

Bryce, C.; Cheevers, C.; Webb, R., "Operational Risk Escalation: An Empirical Analysis of UK Call Centres'", International Review of Financial Analysis, Vol.30, pp. 298-307, doi.10.1016/j.irfa.2013.05.002.



Chuah, S.; Devlin, J., "Behavioural economics and financial services marketing; a review", International Journal of Bank Marketing, Vol.29 (6), pp. 456-469.

Hall, M.; Kenjegalieva, K.; Simper, R., "Environmental Factors Affecting Hong Kong Banking: A Post-Asian Financial Crisis Efficiency Analysis", Global finance journal, Vol.23, pp. 184-201, doi:23:1-32 10.1016/j.gfj.2012.10.004.

Simper, R.; Hadad, M.D.; Hall, M.J.; Kenjegalieva, K.; Santoso, W., "A new approach to dealing with negative numbers in efficiency analysis: an application to the Indonesian banking sector", Expert Systems with Applications, Vol.39 (9), pp. 8212-8219, doi:10.1016/j.eswa.2012.01.145.

Amess, K.; Wright, M., "Leveraged Buyouts, Private Equity and Job", Small Business Economics, Vol.38 (1), pp. 419-430, DOI 10.1007/s11187-010-9280-9.

McKechnie, S.; Devlin, J.; Ennew, C.; Smith, A., "Effects of discount framing in comparative price advertising", European Journal of Marketing, Vol.46 (11), pp. 1501-1522,, DOI:10.1108/03090561211259952.

Hoffmann, R.; Tan, J., "Religion, Markets and Society: An Introduction", Homo Oeconomicus, Vol.29 (1), pp. 7-11.

Jaffer, K.; Mabwe, K.; Webb, R., "Major British bank performance over the business cycle", International Journal of Economic Sciences, Vol.1 (2), pp. 26-50.


Chapter in Books


Barakat, A., "Corporate Governance Changes Following Reputational Damage", in Kaiser, T, Meri, P (ed) Reputational Risk Management in Financial Institutions, Risk Books, London UK, forthcoming.



McKechnie, S., "British Airways tell Britons 'Don't Fly'", in Bradley N and J Blythe (ed) Demarketing, Routledge, forthcoming.

Webb, R., "Financial Institutions and Markets", in Griffiths, A. and Wall, S. (ed) Applied Economics, (1999 2001 2004 2007 2011) FT Prentice Hall. Harlow.




Webb, R. Economics Express: Financial Institutions & Markets, Pearson Education..







































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