January 7th, 2015: Associate professor Dr. Elgilani Elshareif has taken the coveted award for best paper at the 2nd International Conference on Economics, Finance and Management Outlooks held recently in Kuala Lumpur, Malaysia.
Dr. Elsharief, who teaches finance in the School of Graduate Studies at Canadian University Dubai (CUD), received the award for his research paper on the Egyptian stock market, entitled, "Time-varying risk premium in emerging markets: The case of the Egyptian stock exchange market".
The paper was the culmination of a year of research that set out to model the impact of risk over time on the patterns of return in Egypt's stock market. Dr. Elsharief's findings concluded that the Egyptian stock return has been affected by sudden shifts in volatility, and that the asymmetry effect - where negative price shocks lead to higher volatility in stock returns compared to positive shocks - was present in the Egyptian stock exchange over the sample period.
The international conference was organized by the Asian Economic and Social Society and brought together researchers from across the globe to present and discuss new trends in the fields of economics, finance and management, with the keynote address delivered by a leading finance professor from the University of Lethbridge, Canada.
Having taught extensively in the area of finance and supervised more than 20 graduate students, as well as providing consultancy services to financial institutions, Dr. Elsharief's interest in emerging financial markets prompted this recent research project, which looked at the period between 1998 and 2013, including the volatility arising from the Arab Spring.
Dr. Elsharief explained, "The project modeled facts and events as they truly were, rather than trying to fit every new idea into the research by modeling trends from the outset. It focused particularly on the tail distribution, which helps to identify long-term probabilities. Having worked to establish a model, it might also be possible for the research to be applied beyond academia, in a policy context."
Since receiving the award for best paper, the research has attracted wider attention from global publishers in the field, and Dr. Elsharief has recently been invited to join the editorial board for a US-based international academic journal.
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