YU -AlKhobar

Dr. Yaseen Ghulam

Director of Research & Consulting Center / Associate Professor of Finance

Biography:

Qualified senior economist and academician with PhD in Economics and Finance with exposure to working with organizations like Asian Development Bank, World Bank, European Commission, and Ministry of Defense (UK) and a member of the team advising the UK Government on defense manpower issues. Demonstrated ability in academic programs and operations management, research consultancy, research projects management, publishing in high quality/impact economics and finance journals, teaching advanced finance and economics courses, and budget planning and management. Till recently, involved with a challenging senior managerial assignment with a professionally managed organization to leverage acquired international exposure of nearly 21 years from Islamabad (Pakistan), London (UK), Athens (Greece) and Riyadh (Saudi Arabia) in accomplishing organizational growth objectives.

Publications

  1. Ghulam, Y., & Dhruva, K. (2024). Banking sector reforms in a challenging environment: An emerging financial market experience. International Review of Economics & Finance.
  2. Ghulam, Y., & Saunby, B. (2023). Does Increase in Defence Spending Lead to More Risk of Sovereign Debt Defaults?. Defence and Peace Economics, 1-19.
  3. Ghulam, Y. & Blandina Hanna Szalay (2023). Investigating the determinants of money laundering risk. Journal of Money Laundering Control (forthcoming)
  1. Hakro, A. N., Ghulam, Y., Jaffry, S., & Shah, V. (2023). Wage Differentials in the Post Liberalized Labor Market in Paksitan. The Journal of Developing Areas, 57(3), 123-147.
  2. Ghulam, Y. (2021). Institutions and firms’ technological changes and productivity growth. Technological Forecasting and Social Change, 171, 120993.
  3. Ghulam, Y. & ALaujan, (2020). IPOs underpricing in the Saudi stock exchange market. The Empirical Economics Letters, 19 (7), 643-650.
  4. Hakro, A. N., Ghulam, Y., Jaffry, S., & Shah, V. (2021). Returns to Education and Wage Inequality in Pakistan. The Journal of Developing Areas, 55(3), 1-22.
  5. Hakro, A. N., Ghulam, Y., Jaffry, S., & Shah, V. (2021). Employment Choices and Wage Differentials: Evidence on Labor Force Data Sets from Pakistan. The Indian Journal of Labour Economics, 64(1), 199-216.
  6. Ghulam, Y. & Mousa, W. I. (2019). Estimation of productivity growth in the Saudi higher education sector. Technological Forecasting and Social Change, 149, 119741.
  7. Ghulam, Y. (2019). Assessing the long-run impact of reforms and privatization on the banking industry of Pakistan. International Journal of Banking, Accounting and Finance.
  8. Memon, M. & Ghulam, Y. (2019). Impact of privatisation and broader reforms on the competitiveness of the cement manufacturing industry in Pakistan. Review of Economics & Finance, 16, 76-88.
  9. Mousa, W. & Ghulam, Y. (2019). Exploring efficiency differentials between Saudi higher education institutions. Managerial and Decision Economics, 40(2), 180-199.
  10. Ghulam, Y. (2019). SME’s credit conditions during the financial crisis in Europe. Prague Economic Papers, 28(1), 105-125.
  11. Ghulam, Y., Dhruva, K., Naseem, S., & Hill, S. (2018). The interaction of borrower and loan characteristics in predicting risks of subprime automobile loans. Risks, 6(3), 101.
  12. Ghulam, Y. (2018). Is it a few days of good times and then darkness ensues? Long-term performance of an industry after broad reforms and privatisation. International Economic Journal, 32(3), 392-417.
  13. Ghulam, Y. (2018). Is the improved financial performance after broader reforms and privatisation long-lasting and uniform across industries? Review of Economics and Finance, 13(3), 77-92.
  14. Ghulam, Y. & Derber, J. (2018). Determinants of sovereign defaults. The Quarterly Review of Economics and Finance, 69, 43-55.
  15. Ghulam, Y. (2018). The impact of reforms and privatization on firms’ conduct in the presence of interconnected conglomerates and weak and inefficient regulatory institutions. Annals of Public and Cooperative Economics, 89(4), 599-622.
  16. Ghulam, Y. & Beier, J. (2018). Government ownership and risk taking among European savings banks. Journal of Banking Regulation, 19(3), 257-269.
  17. Ghulam, Y., & Doering, J. (2018). Spillover effects among financial institutions within Germany and the United Kingdom. Research in International Business and Finance, 44, 49-63.
  18. Ghulam, Y., & Hill, S. (2017). Distinguishing between good and bad subprime auto loans borrowers: the role of demographic, region and loan characteristics. Review of Economics and Finance, 10(4), 49-62.
  19. Ghulam, Y., & Ntaanya, D. (2017). Evaluation of factors affecting credit flow from banks to SMEs in Uganda. Research Journal of Finance and Accounting, 8(8), 161-175.
  20. Ghulam, Y., & Iyofor, D. (2017). Bank credit availability to SMEs in Nigeria: the impact of firm and owner characteristics. Research Journal of Finance and Accounting, 8(10), 10-20.
  21. Ghulam, Y., & Muhmmad, R. (2017). Determinants of insurance business activities in an oil dependent economy: the case study of Saudi Arabia. Research Journal of Finance and Accounting, 8(10), 105-112.
  22. Ghulam, Y., & Mumbire, V.E. (2017). SME’s credit demand and availability in the Euro area. Research Journal of Finance and Accounting, 8(20), 7-23.
  23. Ghulam, Y. (2017). Determinants of the terms and conditions of bank loans to small and medium-sized enterprises in the European Union. The Empirical Economics Letters, 16(8).
  24. Ghulam, Y. (2017). Two decades after privatization: An evaluation of efficiency and the qualitative changes of Pakistani cement industry. Asian-African Journal of Economics and Econometrics, 17(1), 67-96.
  25. Ghulam, Y. (2017). Long-run performance of an industry after broader reforms including privatization. Research in International Business and Finance, 42, 745-768.
  26. Ghulam, Y. (2017). Effect of privatization and broader reforms on labour use adjustments and efficiency. Annals of Public and Cooperative Economics, 88(4), 499-518.
  27. Jaffry, S., Glenn, H., Ghulam, Y., Willis, T., & Delanbanque, C. (2016). Are expectations being met? Consumer preferences and rewards for sustainably certified fisheries. Marine Policy, 73, 77-91.
  28. Ghulam, Y. & Jaffry, S. (2015). Efficiency and productivity of the cement industry: Pakistani experience of deregulation and privatisation. Omega, 54, 101-115.
  29. Jaffry, S., Ghulam, Y., & Cox, J. (2013). Trends in efficiency in response to regulatory reforms: The case of Indian and Pakistani commercial banks. European Journal of Operational Research, 226(1), 122-131.
  30. Jaffry, S., Ghulam, Y., & Apostolakis, A. (2013). Explaining early exit rates from the Royal Navy. Defence and Peace Economics, 24(4), 339-369.
  31. Jaffry, S., Ghulam, Y., & Apostolakis, A. (2010). Analysing quits and separations from the Royal Navy. Defence and peace economics, 21(3), 207-228.
  32. Jaffry, S., Ghulam, Y., & Apostolakis, A. (2009). Job transitions in the British Royal Navy. Defence and Peace Economics, 20(3), 233-251.
  33. Floros, C., Jaffry, S., & Ghulam, Y. (2009). Predicting returns with financial ratios: evidence from Greece. International Journal of Financial Economics and Econometrics, 14(1), 31-44.
  34. Jaffry, S., Ghulam, Y., & Cox, J. (2008). Labour use efficiency in the Indian and Pakistani commercial banks. Journal of Asian Economics, 19(3), 259-293.
  35. Jaffry, S., Ghulam, Y., & Shah, V. (2007). Returns to education in Pakistan. The Pakistan Development Review, 46(4), 833-852.
  36. Jaffry, S., Ghulam, Y., & Shah, V. (2006). Inter-industry wage differentials in Pakistan. The Pakistan Development Review, 45(4), 925-946.
  37. Jaffry, S., Ghulam, Y., Pascoe, S., & Cox, J. (2007). Regulatory changes and productivity of the banking sector in the Indian sub-continent. Journal of Asian Economics, 18(3), 415-438.
  38. Jaffry, S., Pickering, H., Ghulam, Y., Whitmarsh, D., & Wattage, P. (2004). Consumer choices for quality and sustainability labelled seafood products in the UK. Food Policy, 29(3), 215-228.
  39. Ghulam, Y. & Ashraf, M. (2000). Inflation a big problem to fixed wage earner. Pakistan Economic and Political Review, 1(1),
  40. Ghulam, Y. & Ashraf, M. (1999). Forecasting performance of traditionally employed methods: A case study of number of crimes reported in Pakistan. Journal of Rural Development and Administration, XXXI(4),
  41. Ghulam, Y., & Ashraf, M. (1996). Defense expenditure and economic growth (causality test) with reference to Pakistan. Pakistan Economic and Political Review, 1(2),

 Papers under review

  1. Long-run impact of reforms on banking industry in the presence of uncertain environment, International Review of Economics and Finance.
  2. Explaining heterogeneities in sovereign domestic and external debt defaults, International Journal of Finance and Economics.
  3. Exploring international regional heterogeneities in sovereign debt defaults in response to deterioration in fundamentals, World Economy.
  4. The feedback effects of sovereign debt in a country’s economic system: A model, International Journal of Economic Theory.

Papers completed and to be submitted for publications during 2023-2024

  1. An Investigation of financial crisis and the Euro area SME’s finance conditions.
  2. SME’s banks credit availability during financial crisis: Evidence from the European countries.
  3. European SMEs choices of finance: Do the economic conditions alter the preferences?
  4. Heterogeneity in efficiency among firms: Did the reforms play any role in reducing efficiency differentials?
  5. Economies of scale and scope in the Indian and Pakistani commercial banks.
  6. Robust non-parametric estimates of efficiency: A case of the Indian and Pakistani banks in pre and post reforms periods.
  7. Trends in competitiveness in the Pakistani and Indian banking industries.
  8. Use of composite risk scores in the British Royal Navy manpower forecasting.
  9. Can we predict financial crisis? Determinants and prediction of worldwide banking, currency, sovereign debt crisis and stock market crashes.
  10. Why should we trust rating agencies? Evaluating rating agencies performance in anticipating and predicting major sovereign defaults of the last fifty years.

Work in Progress (Books)

  • Deregulation, Liberalization and Privatization: Experience of Banking Industries in India and Pakistan (to be completed in 2023/24)
  • Pakistani Experience of the Privatization of Manufacturing Industries – Financial and Operational Performance Analysis (to be completed 2023/24)

Lectures and Conference Activity

Refereed conferences participation with published proceedings

  • Return to Education in Pakistan (with Shaabbar Jaffry and Vyoma Shah), Twenty-third Conference of Pakistan Society of Development Economics, Islamabad, Pakistan (12-14 March 2008).
  • Inter Industry Wage Differential in Pakistan (with Shaabbar Jaffry and Vyoma Shah), Twenty-second Conference of Pakistan Society of Development Economics, Islamabad, Pakistan (19-22 December 2006).

Refereed conferences participation without published proceedings

  • Trend in the Robust Non-Parametric Technical Efficiency Estimates of Indian Banks (with Shabbar Jaffry), Tenth International Business Research Conference, Dubai (16-17 April 2009).
  • Trend in the Robust Non-Parametric Technical Efficiency Estimates of Indian and Pakistani Banking Industries (with Shabbar Jaffry), Operation Research Society Conference, University of Warwick (8-10 September 2009).
  • Explaining Early Exit Patterns from the HM Royal Navy (with Shabbar Jaffry and Alexandros Apostolakis), Royal Economic Society Conference University of Nottingham, UK (18-20 April 2006).
  • Predicting early exits from Naval Services (with Shabbar Jaffry), International Symposium on Forecasting organised by International Institute of Forecasting USA (2005).
  • Predicting early exits from Naval Services (with Shabbar Jaffry), International Symposium on Forecasting organised by International Institute of Forecasting, Sydney, Australia (4-7 July 2004).
  • Impact of regulation changes on the productivity of the banking sector in the Indian sub- continent (with Shabbar Jaffry and S. Pascoe), Asia Pacific Productivity Conference, University of Queensland Australia (14-16 July 2004).
  • Choice experiments for quality and sustainability labelling in seafood products: Empirical findings from the United Kingdom (with Shabbar Jaffry, Helen Pickering, David Whitmarsh and Prem Wattage), Imperial College London (April 2001).

Major Academic Visits and Collaborations

September 2006 – June 2012: Regular visits (two per year) to partner higher educational institution (Technological Educational Institute of Crete (Greece)), generating £100k per year for the business school. Among two such regular visitors from PBS over an extended period.

Main activities: Helping the director of postgraduate studies at the University of Portsmouth to run the collaboration program and teaching postgraduate courses on behalf of the University of Portsmouth. The courses included economics of money and banking, international banking, and international finance, alongside extensive supervision sessions for students completing their MSc dissertations.

Teaching

Key teaching activities across my 24-year career (1995 – 2019) in chronological order. As a unit coordinator, I also authored the material used in my teachings.

Period: February 2002 – present (with a gap from January 2016 – August 2019 & August 2022 – present due to a period of unpaid leave)

Location: Portsmouth Business School

Roles: Unit coordinator (UC), lecturer (L), and teaching assistant (TA)

Average course evaluation scores: 4/5 (min. 3.5)

Average number of students: 30+

Main teaching courses: Postgraduate courses: Economics of Money and Banking (UC&L), International Banking (UC&L), International Finance (UC&L), International Banking and Financial Management (UC&L). Undergraduate courses: Financial Markets and Institutions (UC&L), Banking and Financial Structure (UC&L), Economics of Money, Banking and Financial Markets (UC&L), Foundations of Investment & Finance (UC&L), Applied Economics(L), International Banking and Financial Management (UC&L), Corporate Finance (UC&L), Economic Foundations of Investment & Finance (UC&L), Money, Banking and Finance (UC&L), Econometric Analysis (TA).

Dissertation Supervision

Period: September 2002 – present (with a gap from January 2016 – August 2019 due to a period of unpaid leave)

Undergraduate (1-2 groups): Independent study unit and economic research projects

Postgraduate (4-6 per year): All economics and finance MSc programmes

Period: August 2022 – present

Location: Al Yamamah University, Riyadh (Saudi Arabia) campus

Roles: Sole teacher and unit coordinator

Average course evaluation scores: 4-4.5/5 (min. 3.8)

Average number of students: 25+

Main teaching courses: Introduction to Finance (UG), Managerial Economics (EMBA), Introduction to Economics (LLM), Financial Markets, Instruments, and Institutions (UG), Principles of Macroeconomics (UG), Quantitative Methods for Business and Management (PG), Business Research Projects (PG)

Period: January 2016 – August 2019

Location: Al Yamamah University, Riyadh (Saudi Arabia) campus

Roles: Sole teacher and unit coordinator

Average course evaluation scores: 4-4.5/5 (min. 3.8)

Average number of students: 25+

Main teaching courses: Introduction to Finance (UG), Derivative Securities (UG), International Finance (UG), Investment (UG), Foundations of Finance (EMBA), Research Methods (EMBA), Financial Accounting (EMBA), Managerial Economics (EMBA), Financial Management (EMBA), Corporate Finance (MBA).

Period: September 2017 – August 2019

Location: Geneva Business School, Switzerland (Riyadh, Jeddah, and Bahrain campuses)

Roles: Sole teacher (visiting professor, delivering lectures and seminars) and unit coordinator

Average course evaluation scores: 4-4.25/5

Average number of students: 30+

Main teaching courses: Managerial Economics (EMBA)

Period: September 2017 – August 2019

Location: INSEEC Business School, France

Roles: Sole teacher (visiting professor, delivering lectures and seminars in Riyadh, Saudi Arabia) and unit coordinator

Average course evaluation scores: 4-4.25/5

Average number of students: 25+

Main teaching courses: Financial Accounting (EMBA), Research Methods for Business and Finance (MBA & EMBA)

Period: January 2016 – August 2019

Location: Al Yamamah University, Riyadh (Saudi Arabia) campus

Role: Sole trainer of the research methods workshops

Average course evaluation scores: 4-4.25/5

Average number of students (staff members): 50+ in each workshop (total 100+)

Main teaching courses: As a part of continuing education scheme, delivered master classes in ‘conducting research and publishing in high impact journal’ offered to the faculty members of the university

Period: September Dec. 2017 – December 2018

Location: Dar Al Uloom University, Riyadh (Saudi Arabia) campus

Role: Sole trainer of the research methods workshops

Average course evaluation scores: 4-4.25/5

Average number of students: 30+ in each workshop (total 250+)

Main teaching courses: As a part of continuing education scheme, delivered master classes in ‘conducting research and publishing in high impact journal’ offered to the faculty members of the University

Period: September 2006 – June 2012

Location: Technological Educational Institute of Crete (Greece)

Role: Sole teacher and unit coordinator

Average course evaluation scores: 4/5

Average number of students: 25+

Main teaching courses: Postgraduate courses: Economics of Money and Banking, International Banking, International Finance.

Period: 1996 – 1997

Location: Applied Economics Research Centre University of Karachi, Pakistan

Role: Teaching assistant

Main teaching courses: Postgraduate courses: Econometric Analysis and Corporate Finance

Period: 1994 – 1995

Location: Islamia University Bahawalpur, Pakistan

Average course evaluation scores: not rated

Average number of students: 35+

Role: Sole teacher (visiting professor) and unit coordinator

Main teaching courses: Postgraduate courses: Econometric Analysis, Monetary Economics, Micro and Macro Economics, International Trade.

Directing and Managing of Teaching Programs

Program: MSC Business Economics, Finance and Banking

Period: 2008 – 2013

Location: Portsmouth Business School

Roles and responsibilities: As a deputy director of postgraduate programs, managed teaching programs alongside the director by carrying the following specific tasks:

  • Leading the development, growth, and sustainability of attractive and financially viable teaching programs at postgraduate levels that prepare graduates for productive careers
  • Leading and supervising a postgraduate teaching team for program effectiveness, program auditing, developing new programs, managing key quality indicators for postgraduate studies programs, and managing teams of program unit coordinators
  • Liaising with the heads of departments and committees to determine the appropriate instructional resources for program delivery and developing an annual plan for the delivery of programs and ensuring the efficient utilisation of allocated resources

Program: Executive Master of Business Administration (EMBA), Master of Business Administration (MBA), Master of Human Resources Management (MHRM), and Master of Management in Information Systems (MMIS)

Period: 2017 – 2019

Location: Al Yamamah University (Riyadh, Saudi Arabia)

Role and responsibilities: As a dean of postgraduate programs, managed teaching programs by carrying out the following specific tasks:

  • Liaising with the business school dean and university-wide committees to determine appropriate instructional resources for delivering programs, developing an annual plan and budget, and ensuring the efficient utilisation of allocated resources
  • Establishing and strengthening links with external agencies, the government, and businesses to ensure that the programs are industry-relevant and supportive of the needs of businesses and the public sector
  • Ensuring that the requirements of the accrediting body are maintained, that requirements for accreditations are met, and that new accreditations are secured when these would enhance the PGS reputation and improve student employability
  • Developing and implementing best practices in pedagogy, assessment, and quality enhancement and ensuring compliance with policies and national and international accreditation requirements

Services:

Membership of University Committees (Portsmouth Business School, University of Portsmouth, UK)

  • Served on the Portsmouth Business School (PBS) Faculty Extenuating Circumstances Committee for 3 years
  • Served on the PBS Faculty Research Degree Committee for 3 years
  • Represented the PBS Faculty on the University Research Degree Committee for 3 years

PhD thesis examiner and book reviewer

  • 2016 – PhD thesis evaluation (Title: The Impact of Micro Finance on Poverty Eradication in Pakistan).
  • 2011 – PhD thesis evaluation (Title: Performance of Privatization: An Empirical Assessment of Performance of Privatized Banks during the 1990s).
  • 2011 – PhD thesis evaluation (Title: Organizational Restructuring of Commercial Banks in Pakistan. A Comparative Study of Muslim Commercial Bank and National Bank of Pakistan).
  • 2008 – Book review: Money, Banking and Finance.

Journal article referee/reviewer

  • European Journal of Operational Research, Defence and Peace Economics, International Journal of Islamic and Middle Eastern Finance and Management, Research in International Business and Finance, Education + Training, Cogent Economics, and Finance and Economic Modelling

Mentoring and Coaching

  • Mentoring and coaching hundreds of students at the University of Portsmouth and partner educational institutions for 15 years
  • Mentoring and coaching two outstanding economists (currently investment bankers with Goldman Sachs and City Bank) who were categorised as UK’s genius in mathematics and attended the university at the age of 14
  • Mentoring staff members at Al Yamamah University and Dar Al Uloom University in Saudi Arabia in their research, leading to an exponential growth of the universities’ research output and paving the way for institutional accreditation from the Saudi Education Ministry.

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