Dr. Yaseen Ghulam
Director of Research & Consulting Center / Associate Professor of Finance

Biography:
Currently serving as a director of research at Al Yamamah University, Saudi Arabia. Qualified senior economist and academician with PhD in Economics and Finance (UK) with exposure to working with organizations like Asian Development Bank, World Bank, European Commission, and Ministry of Defense (UK) and a member of the research team helping/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, economics, banking and research method courses, and budget planning and management. Historically, involved with a challenging senior managerial assignment with professionally managed organizations to leverage acquired international exposure of nearly 22 years from Islamabad (Pakistan), London (UK), Athens (Greece) and Riyadh (Saudi Arabia) in accomplishing organizational growth objectives.
Publications:
- Ghulam, Y. (2021). Institutions and firms’ technological changes and productivity growth. Technological Forecasting and Social Change, 171, 120993.
[ABDC: A, ABS: 3]
- Ghulam, Y. & ALaujan, (2020). IPOs underpricing in the Saudi stock exchange market. The Empirical Economics Letters, 19 (7), 643-650.
[ABDC: C, ABS: 1]
- 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.
[ABS: 1]
- 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.
[ABDC: C, ABS: 1]
- Ghulam, Y. & Mousa, W. I. (2019). Estimation of productivity growth in the Saudi higher education sector. Technological Forecasting and Social Change, 149, 119741.
[ABDC: A, ABS: 3]
- 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.
[ABDC: C, ABS: 2]
- 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.
[ABDC: B]
- Mousa, W. & Ghulam, Y. (2019). Exploring efficiency differentials between Saudi higher education institutions. Managerial and Decision Economics, 40(2), 180-199.
[ABDC: B, ABS: 2]
- Ghulam, Y. (2019). SME’s credit conditions during the financial crisis in Europe. Prague Economic Papers, 28(1), 105-125.
[ABDC: C]
- 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.
[ABDC: B]
- 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.
[ABDC: C, ABS: 1]
- 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.
[ABDC: B]
- Ghulam, Y. & Derber, J. (2018). Determinants of sovereign defaults. The Quarterly Review of Economics and Finance, 69, 43-55.
[ABDC: B, ABS: 2]
- 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.
[ABDC: B, ABS: 2]
- Ghulam, Y. & Beier, J. (2018). Government ownership and risk taking among European savings banks. Journal of Banking Regulation, 19(3), 257-269.
[ABDC: C, ABS: 2]
- 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.
[ABDC: B, ABS: 2]
- 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.
[ABDC: B]
- 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.
- 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.
- 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.
- 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.
- 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).
[ABDC: C]
- 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.
[ABDC: C]
- Ghulam, Y. (2017). Long-run performance of an industry after broader reforms including privatization. Research in International Business and Finance, 42, 745-768.
[ABDC: B, ABS: 2]
- 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.
[ABDC: B, ABS: 2]
- 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.
[ABDC: A, ABS: 2]
- Ghulam, Y. & Jaffry, S. (2015). Efficiency and productivity of the cement industry: Pakistani experience of deregulation and privatisation. Omega, 54, 101-115.
[ABDC: A*, ABS: 3]
- 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.
[ABDC: A*, ABS: 4]
- Jaffry, S., Ghulam, Y., & Apostolakis, A. (2013). Explaining early exit rates from the Royal Navy. Defence and Peace Economics, 24(4), 339-369.
[high impact study under 2014 REF and ranked 4* by the external assessors. ABDC: B, ABS: 2]
- Jaffry, S., Ghulam, Y., & Apostolakis, A. (2010). Analysing quits and separations from the Royal Navy. Defence and peace economics, 21(3), 207-228.
[high impact study under 2014 REF and ranked 4* by the external assessors. ABDC: B, ABS: 2]
- Jaffry, S., Ghulam, Y., & Apostolakis, A. (2009). Job transitions in the British Royal Navy. Defence and Peace Economics, 20(3), 233-251.
[high impact study under 2014 REF and ranked 4* by the external assessors. ABDC: B, ABS: 2]
- 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.
[ABDC: C]
- 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.
[Lead article ABDC: B, ABS: 1]
- Jaffry, S., Ghulam, Y., & Shah, V. (2007). Returns to education in Pakistan. The Pakistan Development Review, 46(4), 833-852.
[ABDC: C]
- Jaffry, S., Ghulam, Y., & Shah, V. (2006). Inter-industry wage differentials in Pakistan. The Pakistan Development Review, 45(4), 925-946.
[ABDC: C]
- 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.
[ABDC: B, ABS: 1]
- 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.
[Highly cited study (274 citations) on food/fish labelling in Europe and USA. ABDC: A, ABS: 3]
- Ghulam, Y. & Ashraf, M. (2000). Inflation a big problem to fixed wage earner. Pakistan Economic and Political Review, 1(1).
- 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).
- Ghulam, Y., & Ashraf, M. (1996). Defense expenditure and economic growth (causality test) with reference to Pakistan. Pakistan Economic and Political Review, 1(2).
Conferences:
Attended
11th International Conference of the Financial Engineering and Banking Society. Portsmouth Business School, University of Portsmouth, United Kingdom.
Paper presented
- 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)
Teaching:
Key teaching activities across 27-year career (1995 – 2022) in chronological order. As a unit coordinator, I also authored the material used in my teachings.
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 2002 – present (with a gap from January 2016 – August 2019 due to a period of unpaid leave)
Location: Portsmouth Business School, University of Portsmouth, UK
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: 2002 – 2022
Undergraduate (4-8 groups over 20 years): Independent study unit and economic research projects
Postgraduate (4-8 per year over 20 years): All economics and finance MSc programmes
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.
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.