The influence of carbon risk on debt structure

Article

Ben-Nasr, Hamdi, Basha, Shabeen Afsar and Shams, Syed. 2025. "The influence of carbon risk on debt structure." International Review of Financial Analysis. 107. https://doi.org/10.1016/j.irfa.2025.104591
Article Title

The influence of carbon risk on debt structure

ERA Journal ID19556
Article CategoryArticle
AuthorsBen-Nasr, Hamdi, Basha, Shabeen Afsar and Shams, Syed
Journal TitleInternational Review of Financial Analysis
Journal Citation107
Article Number104591
Number of Pages19
Year2025
PublisherElsevier
Place of PublicationNetherlands
ISSN1057-5219
Digital Object Identifier (DOI)https://doi.org/10.1016/j.irfa.2025.104591
Web Address (URL)https://www.sciencedirect.com/science/article/pii/S1057521925006787
Abstract

We add to the literature on the effect of carbon risk on the availability and cost of bank loans, by focusing on the
impact of carbon risk on the proportion of bank debt relative to total debt. Using a global sample of 58 countries
covering the period 2007–2020, we find that carbon risk is negatively associated with bank debt ratio, indicating
that high emitter firms are less able to secure bank debt. The findings support our hypothesis that high-emitter
firms reduce bank debt to avoid bank scrutiny and it is likely banks avoid lending to high-emitter firms for
reputational concerns. Our results are robust to a battery of sensitivity tests and addressing endogeneity concerns
using several approaches. We add to this literature by distinguishing between the demand-side vs. supply-side.
Our channel tests are in line with the demand-side perspective. Indeed, we show that the negative relationship
between carbon risk and bank debt is more (less) pronounced in firms with severe agency (information asymmetry) problems. We also provide support for the supply-side perspective. We show that the negative association
between carbon risk and bank debt is stronger in financially developed countries and in countries with stringent
environmental regulations. We offer many practical and policy implications based on our results. Our study
highlights the potential role of banks in aiding climate policy implementation. Furthermore, firms can adopt
carbon risk mitigating strategies to amplify their capital sources.

KeywordsClimate change; Regulations; Bank debt; Carbon emissions
Contains Sensitive ContentDoes not contain sensitive content
ANZSRC Field of Research 2020350299. Banking, finance and investment not elsewhere classified
Byline AffiliationsQatar University, Qatar
School of Business
Permalink -

https://research.usq.edu.au/item/100062/the-influence-of-carbon-risk-on-debt-structure

Log in to edit

Download files

Published Version
1-s2.0-S1057521925006787-main.pdf
License: CC BY 4.0
File access level: Anyone

  • 7
    total views
  • 1
    total downloads
  • 7
    views this month
  • 1
    downloads this month

Export as

Related outputs

Success or failure? Managerial ability and firm emergence from Chapter 11 bankruptcy proceedings
Zikri, Miftah, Shams, Syed, Rashid, Afzalur and Minnick, Kristina. 2025. "Success or failure? Managerial ability and firm emergence from Chapter 11 bankruptcy proceedings ." Journal of Financial Research. https://doi.org/10.1111/jfir.70023
Unravelling cross-sectional patterns in cryptocurrencies: a four-factor asset pricing model
Ali, Asgar, Peng, Sanshao and Shams, Syed. 2025. "Unravelling cross-sectional patterns in cryptocurrencies: a four-factor asset pricing model." China Accounting and Finance Review. 27 (4), pp. 493-519. https://doi.org/10.1108/CAFR-06-2024-0077
From corporate emissions to financial statements: Understanding accounting conservatism in the wake of carbon risks
Islam, Farhana, Bose, Sudipta, Ying, Sammy Xiaoyan and Shams, Syed. 2025. "From corporate emissions to financial statements: Understanding accounting conservatism in the wake of carbon risks ." Journal of Contemporary Accounting and Economics. 21 (3). https://doi.org/10.1016/j.jcae.2025.100500
From crisis to Stability: How CSR shielded firms during Covid-19 pandemic
Arian, Adam, Bose, Sudipta, Karoui, Lotfi and Shams, Syed. 2025. "From crisis to Stability: How CSR shielded firms during Covid-19 pandemic ." International Review of Economics and Finance. 103. https://doi.org/10.1016/j.iref.2025.104470
Does the readability of target firms' annual reports matter to bidders?
Balachandran, Balasingham, Faff, Robert W., Minnick, Kristina and Shams, Syed. 2025. "Does the readability of target firms' annual reports matter to bidders?" International Review of Financial Analysis. 105. https://doi.org/10.1016/j.irfa.2025.104425
Assessing the turbulence: Wavelet coherence and causality analysis of energy price volatility and exchange rate instability
Razi, Ummara, Cheong, Calvin W.H., Shams, Syed, Sarker, Tapan, Sharif, Arshian and Afshan, Sahar. 2025. "Assessing the turbulence: Wavelet coherence and causality analysis of energy price volatility and exchange rate instability." Energy. 331. https://doi.org/10.1016/j.energy.2025.136948
Board gender diversity at target firms and acquisition decisions of gender diverse bidders
Gunasekarage, Abeyratna, Minnick, Kristina and Shams, Syed. 2025. "Board gender diversity at target firms and acquisition decisions of gender diverse bidders." Journal of Financial Stability. 78. https://doi.org/10.1016/j.jfs.2025.101410
From the executive suite to the environment: How does CEO power affect climate change disclosures?
Bose, Sudipta, Shams, Syed, Boubaker, Sabri and Daradkeh, Hussein. 2025. "From the executive suite to the environment: How does CEO power affect climate change disclosures?" Journal of International Financial Markets, Institutions and Money. 100. https://doi.org/10.1016/j.intfin.2025.102140
Co-opted boards and bidder performance
Shams, Syed, Luong, Hoa and Ovi, Nafisa Zabeen. 2025. "Co-opted boards and bidder performance ." China Accounting and Finance Review. 27 (2), pp. 237-274. https://doi.org/10.1108/CAFR-02-2024-0013
Does Carbon Risk Influence Stock Price Crash Risk? International Evidence
Bose, Sudipta, Lim, Edwin KiaYang, Minnick, Kristina, Schorno, Patrick J. and Shams, Syed. 2025. "Does Carbon Risk Influence Stock Price Crash Risk? International Evidence ." Journal of Business Finance and Accounting. https://doi.org/10.1111/jbfa.12851
Impact of Corporate Climate Change Performance on Information Asymmetry: International Evidence
Dey, Sajal Kumar, Bose, Sudipta, Luo, Le and Shams, Syed. 2025. "Impact of Corporate Climate Change Performance on Information Asymmetry: International Evidence ." Journal of International Accounting Research. 24 (1), pp. 13-45. https://doi.org/10.2308/JIAR-2022-057/12903
Target firm's integrity culture and M&A performance
Balachandran, Balasingham, Faff, Robert W., Mishra, Sagarika and Shams, Syed. 2025. "Target firm's integrity culture and M&A performance ." Journal of Business Finance and Accounting. 52 (1), pp. 433-471. https://doi.org/10.1111/jbfa.12818
Bold climate action benefits more than just the environment – it’s also great for business
Shams, Syed and Bose, Sudipta. 2024. "Bold climate action benefits more than just the environment – it’s also great for business." The Conversation.
Student Satisfaction and University Enrollments: Does the Urban or Regional Status of Australian Higher Education Institutions Matter?
Biswas, Kumar, Bose, Sudipta, Shams, Syed, Dann, Chris and Brown, Alice. 2024. "Student Satisfaction and University Enrollments: Does the Urban or Regional Status of Australian Higher Education Institutions Matter?" American Business Review. 27 (2). https://doi.org/10.37625/abr.27.2.798-818
Does CEO age matter in auditor choice and audit pricing? The role of CEO dominance
Ferdous, Lutfa Tilat, Bose, Sudipta, Shams, Syed and Azizkhani, Masoud. 2024. "Does CEO age matter in auditor choice and audit pricing? The role of CEO dominance ." Journal of Accounting Literature. https://doi.org/10.1108/jal-09-2023-0169
CEO Connectedness and Firm Transparency
Luong, Hoa, Minnick, Kristina, Mia, Mia L. and Shams, Syed. 2024. "CEO Connectedness and Firm Transparency." European Financial Management. https://doi.org/10.1111/eufm.12527
Estimating probability of default via delinquencies? Evidence from European P2P lending market
Nigmonov, Asror, Shams, Syed and Urbonas, Povilas. 2024. "Estimating probability of default via delinquencies? Evidence from European P2P lending market." Global Finance Journal. 63. https://doi.org/10.1016/j.gfj.2024.101050
Does continuous disclosure affect the market reaction to mergers and acquisitions announcements?
Shams, Syed, Bose, Sudipta, Gunasekarage, Abeyratna and Velayutham, Eswaran. 2024. "Does continuous disclosure affect the market reaction to mergers and acquisitions announcements?" Pacific-Basin Finance Journal. 88. https://doi.org/10.1016/j.pacfin.2024.102540
Consumer confidence and cryptocurrency excess returns: a three-factor model
Peng, Sanshao, Shams, Syed, Prentice, Catherine and Sarker, Tapan. 2024. "Consumer confidence and cryptocurrency excess returns: a three-factor model." Global Finance Journal. 62. https://doi.org/10.1016/j.gfj.2024.101029
Economic policy uncertainty, carbon emissions and firm valuation: International evidence
Bose, Sudipta, Shams, Syed, Ali, Searat, Mamun, Abdullah Al and Chang, Millicent. 2024. "Economic policy uncertainty, carbon emissions and firm valuation: International evidence." British Accounting Review. 56 (6). https://doi.org/10.1016/j.bar.2024.101453
Pricing media sentiment: Evidence from global mergers and acquisitions
Shams, Syed, Bose, Sudipta and Sheikhbahaei, Ali. 2024. "Pricing media sentiment: Evidence from global mergers and acquisitions." Pacific-Basin Finance Journal. 86. https://doi.org/10.1016/j.pacfin.2024.102447
Does size matter Examining the probability of firm emergence from bankruptcy
Zikri, Miftah, Shams, Syed, Rashid, Afzalur and Krishnamurti, Chandrasekhar. 2024. "Does size matter Examining the probability of firm emergence from bankruptcy." International Review of Finance. 24 (4), pp. 669-713. https://doi.org/10.1111/irfi.12462
Corporate carbon performance and firm risk: Evidence from Asia-Pacific countries
Al-Fakir, Eltayyeb Al-Fakir, Rashid, Afzalur, Shams, Syed and Bose, Sudipta. 2024. "Corporate carbon performance and firm risk: Evidence from Asia-Pacific countries ." Journal of Contemporary Accounting and Economics. 20 (2). https://doi.org/10.1016/j.jcae.2024.100427
A Framework to Assess Possible Sources of Stakeholder Exploitation: A Developing Country Case
Shafique, Kamran, Shams, Syed and Sarker, Tapan. 2024. "A Framework to Assess Possible Sources of Stakeholder Exploitation: A Developing Country Case." International Journal of Disaster Risk Science. 15 (1), pp. 32-44. https://doi.org/10.1007/s13753-024-00538-w
Liquidity risk in FinTech lending: Early impact of the COVID-19 pandemic on the P2P lending market
Nigmonov, Asror, Shams, Syed and Alam, Khorshed. 2024. "Liquidity risk in FinTech lending: Early impact of the COVID-19 pandemic on the P2P lending market." Emerging Markets Review. 58, pp. 1-20. https://doi.org/10.1016/j.ememar.2023.101084
A systematic literature review on the determinants of cryptocurrency pricing
Peng, Sanshao, Prentice, Catherine, Shams, Syed and Sarker, Tapan. 2024. "A systematic literature review on the determinants of cryptocurrency pricing." China Accounting and Finance Review. 26 (1), pp. 1-30. https://doi.org/10.1108/CAFR-05-2023-0053
CEO-director ties and board gender diversity: US evidence
Luong, Hoa, Khedmati, Mehdi, Nguyen, Lan Anh, Nigmonov, Asror, Ovi, Nafisa Zabeen and Shams, Syed. 2023. "CEO-director ties and board gender diversity: US evidence." Journal of Behavioral and Experimental Finance. 40. https://doi.org/10.1016/j.jbef.2023.100861
Board gender diversity and acquisition choices
Gunasekarage, Abeyratna, Khedmati, Mehdi, Minnick, Kristina and Shams, Syed. 2023. "Board gender diversity and acquisition choices." Journal of Financial Research. 46 (4), pp. 949-991. https://doi.org/10.1111/jfir.12345
Climate-linked compensation, societal values, and climate change impact: International evidence
Bose, Sudipta, Burns, Natasha, Minnick, Kristina and Shams, Syed. 2023. "Climate-linked compensation, societal values, and climate change impact: International evidence." Corporate Governance (Oxford): an international review. 31 (5), pp. 759-785. https://doi.org/10.1111/corg.12504
Do foreign institutional investors influence corporate climate change disclosure quality? International evidence
Bose, Sudipta, Lim, Edwin, Minnick, Kristina and Shams, Syed. 2024. "Do foreign institutional investors influence corporate climate change disclosure quality? International evidence." Corporate Governance (Oxford): an international review. 32 (2), pp. 322-347. https://doi.org/10.1111/corg.12535
Corporate carbon performance and cost of debt: Evidence from Asia-Pacific countries
Al-Fakir Al Rabab'a, Eltayyeb, Rashid, Afzalur and Shams, Syed. 2023. "Corporate carbon performance and cost of debt: Evidence from Asia-Pacific countries." International Review of Financial Analysis. 88, pp. 1-16. https://doi.org/10.1016/j.irfa.2023.102641
Gender diversity and acquisitions: How female directors add value in acquisition decisions
Shams, Syed, Minnick, Kristina, Khedmati, Mehdi and Gunaskerage, Abeyratna. 2024. "Gender diversity and acquisitions: How female directors add value in acquisition decisions." Journal of Business Finance and Accounting. 51 (1-2), pp. 113-147. https://doi.org/10.1111/jbfa.12688
Media coverage and patent trolls: A study on US high-tech firms
Siddiqui, Sayla and Shams, Syed. 2023. "Media coverage and patent trolls: A study on US high-tech firms." Journal of Behavioral and Experimental Finance. 37, pp. 1-16. https://doi.org/10.1016/j.jbef.2022.100782
The Impact of Corporate ESG Performance Disclosure Across Australian Industries
Gholami, Amir, Sands, John and Shams, Syed. 2022. "The Impact of Corporate ESG Performance Disclosure Across Australian Industries." Australasian Accounting Business and Finance Journal. 16 (4), pp. 180-200. https://doi.org/10.14453/aabfj.v16i4.10
Corporates’ sustainability disclosures impact on cost of capital and idiosyncratic risk
Gholami, Amir, Sands, John and Shams, Syed. 2023. "Corporates’ sustainability disclosures impact on cost of capital and idiosyncratic risk." Meditari Accountancy Research. 31 (4), pp. 861-886. https://doi.org/10.1108/MEDAR-06-2020-0926
Does managerial ability matter for corporate climate change disclosures?
Daradkeh, Hussein, Shams, Syed, Bose, Sudipta and Gunaskerage, Abeyratna. 2023. "Does managerial ability matter for corporate climate change disclosures?" Corporate Governance (Oxford): an international review. 31 (1), pp. 83-104. https://doi.org/10.1111/corg.12436
Determinants and consequences of student satisfaction in Australian Universities: Evidence from QILT Surveys
Biswas, Kumar, Bose, Sudipta, Chang, Millicent and Shams, Syed. 2023. "Determinants and consequences of student satisfaction in Australian Universities: Evidence from QILT Surveys." Accounting and Finance. 63 (2), pp. 1821-1850. https://doi.org/10.1111/acfi.12930
Economic policy uncertainty and acquisition performance: Australian evidence
Shams, Syed, Gunaskerage, Abey and Velayutham, Eswaran. 2022. "Economic policy uncertainty and acquisition performance: Australian evidence." International Review of Economics and Finance. 78, pp. 286-308. https://doi.org/10.1016/j.iref.2021.12.004
COVID‐19 impact, sustainability performance and firm value: international evidence
Bose, Sudipta, Shams, Syed, Ali, Muhammad Jahangir and Mihret, Dessalegn. 2022. "COVID‐19 impact, sustainability performance and firm value: international evidence." Accounting and Finance. 62 (1), pp. 597-643. https://doi.org/10.1111/acfi.12801
Pre-deal differences in corporate social responsibility and acquisition performance
Hussain, Tanveer and Shams, Syed. 2022. "Pre-deal differences in corporate social responsibility and acquisition performance." International Review of Financial Analysis. 81, pp. 1-17. https://doi.org/10.1016/j.irfa.2022.102083
FinTech and macroeconomics: Dataset from the US peer-to-peer lending platform
Nigmonov, Asror, Shams, Syed and Alam, Khorshed. 2021. "FinTech and macroeconomics: Dataset from the US peer-to-peer lending platform." Data in Brief. 39, pp. 1-10. https://doi.org/10.1016/j.dib.2021.107666
COVID‑19 pandemic risk and probability of loan default: evidence from marketplace lending market
Nigmonov, Asror and Shams, Syed. 2021. "COVID‑19 pandemic risk and probability of loan default: evidence from marketplace lending market." Financial Innovation. 7 (1), pp. 1-28. https://doi.org/10.1186/s40854-021-00300-x
Does corporate tax avoidance promote managerial empire building?
Shams, Syed, Bose, Sudipta and Gunasekarage, Abeyratna. 2022. "Does corporate tax avoidance promote managerial empire building?" Journal of Contemporary Accounting and Economics. 18 (1), pp. 1-27. https://doi.org/10.1016/j.jcae.2021.100293
Does carbon risk matter for corporate acquisition decisions?
Bose, Sudipta, Minnick, Kristina and Shams, Syed. 2021. "Does carbon risk matter for corporate acquisition decisions?" Journal of Corporate Finance. 70, pp. 1-24. https://doi.org/10.1016/j.jcorpfin.2021.102058
CEO pay slice and acquisitions in Australia: the role of tournament incentives
Luong, Hoa, Gunasekarage, Abeyratna and Shams, Syed. 2022. "CEO pay slice and acquisitions in Australia: the role of tournament incentives." International Journal of Managerial Finance. 18 (5), pp. 833-868. https://doi.org/10.1108/IJMF-06-2021-0292
Macroeconomic determinants of loan defaults: evidence from the U.S. peer-to-peer lending market
Nigmonov, Asror, Shams, Syed and Alam, Khorshed. 2022. "Macroeconomic determinants of loan defaults: evidence from the U.S. peer-to-peer lending market." Research in International Business and Finance. 59, pp. 1-13. https://doi.org/10.1016/j.ribaf.2021.101516
Female directors and acquisitions: Australian evidence
Lucas, Ryley, Gunasekarage, Abeyratna, Shams, Syed and Edirisuriya, Piyadasa. 2021. "Female directors and acquisitions: Australian evidence." Pacific-Basin Finance Journal. 68. https://doi.org/10.1016/j.pacfin.2021.101600
The Hayne Royal Commission and the financial planning advice: A review of the impact on the operating model of financial advice firms
Abu-Taleb, Mohammad, Rashid, Afzalur and Shams, Syed. 2021. "The Hayne Royal Commission and the financial planning advice: A review of the impact on the operating model of financial advice firms." Financial Planning Research Journal. 6 (1), pp. 74-85.
Halal market emergence and export opportunity: the comparative advantage perspective
Kabir, Shahriar, Shams, Syed and Lawrey, Roger. 2019. "Halal market emergence and export opportunity: the comparative advantage perspective." Xu, Jiuping, Cooke, Fang Lee, Gen, Mitsuo and Ahmed, Syed Ejaz (ed.) 12th International Conference on Management Science and Engineering Management (ICMSEM 2018). Melbourne, Australia 01 - 04 Aug 2018 Cham, Switzerland. https://doi.org/10.1007/978-3-319-93351-1_122
Threat of hostile takeover and the cost of seasoned equity offerings
Sheikhbahaei, Ali and Shams, Syed. 2022. "Threat of hostile takeover and the cost of seasoned equity offerings." International Journal of Managerial Finance. 18 (1), pp. 156-180. https://doi.org/10.1108/IJMF-03-2020-0106
Does firm life cycle have impacts on managerial promotion tournament incentives?
Chowdhury, Hasibul and Shams, Syed. 2021. "Does firm life cycle have impacts on managerial promotion tournament incentives?" Australian Journal of Management. 46 (4), pp. 593-628. https://doi.org/10.1177/0312896220974417
A case study on Incitec Pivot's acquisition strategy of dyno nobel
Balachandran, Balasingham, Fazzino, James and Shams, Syed. 2020. "A case study on Incitec Pivot's acquisition strategy of dyno nobel." Pacific-Basin Finance Journal. 63, pp. 1-10. https://doi.org/10.1016/j.pacfin.2020.101386
Competition in the acquisition market and returns to bidders in Australia
Shams, Syed. 2021. "Competition in the acquisition market and returns to bidders in Australia." Research in International Business and Finance. 55, pp. 1-21. https://doi.org/10.1016/j.ribaf.2020.101339
CEO power and corporate social responsibility (CSR) disclosure: does stakeholder influence matter?
Rashid, Afzalur, Shams, Syed, Bose, Sudipta and Khan, Habib. 2020. "CEO power and corporate social responsibility (CSR) disclosure: does stakeholder influence matter?" Managerial Auditing Journal. 35 (9), pp. 1279-1312. https://doi.org/10.1108/MAJ-11-2019-2463
Evidence on the trade-off between corporate social responsibility and mergers and acquisitions investment
Krishnamurti, Chandrasekhar, Shams, Syed and Chowdhury, Hasibul. 2021. "Evidence on the trade-off between corporate social responsibility and mergers and acquisitions investment." Australian Journal of Management. 46 (3), pp. 466-498. https://doi.org/10.1177/0312896220950394
Is China a source of financial contagion?
Akhtaruzzaman, Md, Abdel-Qader, Waleed, Hammami, Helmi and Shams, Syed. 2021. "Is China a source of financial contagion?" Finance Research Letters. 38, pp. 1-13. https://doi.org/10.1016/j.frl.2019.101393
Trade diversion risk for halal food exports
Kabir, Shahriar, Shams, Syed and Lawrey, Roger. 2021. "Trade diversion risk for halal food exports." Journal of Islamic Marketing. 12 (4), pp. 705-729. https://doi.org/10.1108/JIMA-07-2019-0145
Do the business cycle and revenue diversification matter for banks' capital buffer and credit risk: Evidence from ASEAN banks
Ovi, Nafisa, Bose, Sudipta, Gunasekarage, Abeyratna and Shams, Syed. 2020. "Do the business cycle and revenue diversification matter for banks' capital buffer and credit risk: Evidence from ASEAN banks." Journal of Contemporary Accounting and Economics. 16 (1), pp. 1-19. https://doi.org/10.1016/j.jcae.2020.100186
Corporate social responsibility, overconfident CEOs and empire building: Agency and stakeholder theoretic perspectives
Gul, Ferdinand A., Krishnamurti, Chandrasekhar, Shams, Syed and Chowdhury, Hasibul. 2020. "Corporate social responsibility, overconfident CEOs and empire building: Agency and stakeholder theoretic perspectives." Journal of Business Research. 111, pp. 52-68. https://doi.org/10.1016/j.jbusres.2020.01.035
Does takeover competition affect acquisition choices and bidding firm performance? Australian evidence
Faff, Robert, Gunasekarage, Abeyratna and Shams, Syed. 2020. "Does takeover competition affect acquisition choices and bidding firm performance? Australian evidence." Accounting and Finance. 60 (4), pp. 3581-3619. https://doi.org/10.1111/acfi.12527
Socially responsible firms and mergers and acquisitions performance: Australian evidence
Krishnamurti, Chandrasekhar, Shams, Syed, Pensiero, Domenico and Velayutham, Eswaran. 2019. "Socially responsible firms and mergers and acquisitions performance: Australian evidence." Pacific-Basin Finance Journal. 57, pp. 1-16. https://doi.org/10.1016/j.pacfin.2019.101193
Merger and acquisition research in the Asia-Pacific region: A review of the evidence and future directions
Faff, Robert, Prasadh, Shyaam and Shams, Syed. 2019. "Merger and acquisition research in the Asia-Pacific region: A review of the evidence and future directions." Research in International Business and Finance. 50, pp. 267-278. https://doi.org/10.1016/j.ribaf.2019.06.002
Competition in the acquisition market and acquirers' long-run performance
Shams, Syed and Gunasekarage, Abeyratna. 2019. "Competition in the acquisition market and acquirers' long-run performance." International Finance. 22, pp. 399-421. https://doi.org/10.1111/infi.12339
Managerial acquisitiveness and corporate tax avoidance
Gul, Ferdinand A., Khedmati, Mehdi and Shams, Syed M. M.. 2020. "Managerial acquisitiveness and corporate tax avoidance." Pacific-Basin Finance Journal. 64. https://doi.org/10.1016/j.pacfin.2018.08.010
Developing a generic review framework to assure capstone quality
Hammer, Sara, Abawi, Lindy, Gibbings, Peter, Jones, Hazel, Redmond, Petrea and Shams, Syed. 2018. "Developing a generic review framework to assure capstone quality." Higher Education Research and Development. 37 (4), pp. 730-743. https://doi.org/10.1080/07294360.2018.1453787
Corporate social responsibility and corruption risk: a global perspective
Krishnamurti, Chandrasekhar, Shams, Syed and Velayutham, Eswaran. 2018. "Corporate social responsibility and corruption risk: a global perspective." Journal of Contemporary Accounting and Economics. 14 (1), pp. 1-21. https://doi.org/10.1016/j.jcae.2018.02.002
Information content of directors' trading around acquisitions
Shams, Syed M. M., Duong, Huu Nhan and Singh, Harminder. 2016. "Information content of directors' trading around acquisitions." Pacific-Basin Finance Journal. 38, pp. 177-193. https://doi.org/10.1016/j.pacfin.2016.04.004
News announcement effects of compliance with section 404 of SOX: evidence from non-accelerated filers
Khedmati, Mehdi, Navissi, Farshid, Shams, Syed and Vinkler, Daniel. 2015. "News announcement effects of compliance with section 404 of SOX: evidence from non-accelerated filers." Journal of Contemporary Accounting and Economics. 11 (3), pp. 231-244. https://doi.org/10.1016/j.jcae.2015.07.003
Target’s organisational form and returns to Australian bidders in cross-border acquisitions
Colombage, Sisira R. N., Gunasekarage, Abeyratna and Shams, Syed M. M.. 2014. "Target’s organisational form and returns to Australian bidders in cross-border acquisitions." Accounting and Finance. 54 (4), pp. 1063-1091. https://doi.org/10.1111/acfi.12031
Operating performance following corporate acquisitions: does the organisational form of the target matter?
Shams, Syed M. M. and Gunasekarage, Abeyratna. 2016. "Operating performance following corporate acquisitions: does the organisational form of the target matter?" Journal of Contemporary Accounting and Economics. 12, pp. 1-14. https://doi.org/10.1016/j.jcae.2016.02.001
Private public distinction of the target and the long run operating performance of acquirers
Shams, Syed M. M. and Gunasekarage, Abeyratna. 2016. "Private public distinction of the target and the long run operating performance of acquirers." Pacific Accounting Review. 28 (1), pp. 38-58. https://doi.org/10.1108/PAR-02-2014-0004
Does the organisational form of the target influence market reaction to acquisition announcements? Australian evidence
Shams, Syed M.M., Gunasekarage, Abeyratna and Colombage, Sisira R. N.. 2013. "Does the organisational form of the target influence market reaction to acquisition announcements? Australian evidence." Pacific-Basin Finance Journal. 24, pp. 89-108. https://doi.org/10.1016/j.pacfin.2013.04.002