Shab Hundal

JAMK University of Applied Sciences | JAMK · School of Business

Dear Colleague, We invite intellectual contributions to the Finance Hybrid Conference with the theme “Innovation & Sustainability: Impact on Investment and Valuation” in Finance and Real Estate Markets. The topic has taken on increased importance in the current environment of skyrocketing inflation and rising interest rates worldwide. Businesses a...

The phenomenon of financial reporting manipulations and bankruptcy likelihood has always been a topic of interest among researchers. Corporate managers can have the motivation to compromise the financial reporting quality to hide the deteriorating financial health of the firms, nonetheless, if such practices go unabated then such firms can be expos...

The current paper aims to analyze the effects of corporate boards of directors’ characteristics, executive remuneration, and several corporate governance characteristics of the manufacturing firms in three Nordic nations (Finland, Sweden, and Denmark) on the quality of financial information, measured by total discretionary accruals (measured by bot...

Impact of Business Cycles on Share Repurchases in the Finnish Stock Market

A Study of Stock Market performance of Large-cap Russian Companies in the Covid-19 Period

A cross-country study of stock markets volatility before and during the Covid-19 pandemic

The Stock Market Risk - Return Dynamics and the U.S. Presidential Elections

Decomposition of CEO Compensation: Comparisons between the Nordics and USA

The linkages between the performance-based compensation of CEOs, board structure and firm-Performance in Nordic

From Globalization to Regionalization in a Time of Economic, Socio-political, Competitive, and Technological Uncertainties: Current Issues and Future Expectations (77-84). The 29th World Business Congress of the International Management Development Association (IMDA) June 12-16, 2022 at Jyväskylä (Finland). ISBN: 1-888624-19-1.

Paper presented and published at The 29th World Business Congress of the International Management Development Association (IMDA) June 12-16, 2022 at Jyväskylä (Finland) - International Management Development Association (IMDA) annual World Business Congress proceedings volume XXIX, 2022 Page 16-23 *************************************************...

Accounting manipulations can push banks towards actual/potential bankruptcy.

-Covid-19 is one of the major disruptions that humans have encountered in the recent history. -Education is amongst the worst affected sector amidst the ongoing pandemic.

On behalf of the Editorial team, I feel proud to introduce Issue 4 of Volume 10 (2021) of the Journal of Governance and Regulation. The current issue includes scholarly articles falling in the purview of a wide range of research themes, for example, managerial competencies, consumer relationship intention, accounting standards, principal-agent dyna...

The origin of different theories of corporate governance is based on various financial models that have shareholders’ wealth maximization as the principal objective. Due to growing interest of researchers, the subject matter of corporate governance has evolved towards more complex models, including various stakeholders; such as investors, employees...

Though several researchers have attempted to define corporate governance from different perspectives, yet the subject matter of this discipline is so vast that it is not an easy task to encompass ‘depths and breadths’ of corporate governance in a few definitions. Nevertheless, these definitions help in providing much valued information about the di...

This paper explores difficulties and challenges that family firms in Russia experience on regular basis. However, the efforts of these enterprises are like ‘swimming against the tide’ and as a result of it they have achieved remarkable success in both domestic and international markets in a short span of time.

8th Higher Education Institutions Conference November 26-27, 2020. Zagreb School of Economics and Management, Croatia

8th Higher Education Institutions Conference November 26-27, 2020. Zagreb School of Economics and Management, Croatia

8th Higher Education Institutions Conference November 26-27, 2020. Zagreb School of Economics and Management, Croatia

Financial Crisis of 2007 made a significant impact on corporate capital structure in the Nordic Countries, and the current study investigates this phenomenon.

Testing risk-return Relationship in the Finnish Stock Market in the light of Capital Asset Pricing Model (CAPM)

DLT4ALL is a project funded by the Erasmus+ Programme of the European Union with the goal to make Blockchain and Distributed Ledger Technologies (DLT) and their applications understandable (Source: https://dlt4all.eu/)

Hundal, Shab, Eskola, Anne and Tuan, Doan (2019). Risk–return relationship in the Finnish stock market in the light of Capital Asset Pricing Model (CAPM). Twenty Eighth Annual World Business Congress of the IMDA held in North Nicosia, North Cyprus June 12-16, 2019.

"The Impact of Board of Directors’ Composition on Firm Performance through Innovation in Finnish and Swedish Corporate Sector" authored by Shab Hundal, Anne Eskola and Ilya Nekrasov won the best paper award

The family firms (FFs) play an instrumental role in the economic spectrum of the Russian economy with respect to their contribution to income, output, and employment, ceteris paribus. The FFs not only contribute the domestic business activities but also make a significant contribution to international business. Ever since the launch of the mass pri...

In the below video, I have attempted to explain how "Quality of financial reporting (measured by Beneish Model) has an impact on the likelihood of bankruptcy of the firms (measured by Altman Z score)". https://www.youtube.com/watch?v=uR4ezL_OmYg

In 2007, two friends decided to establish a new IT company, but not just another software company – a phrase that later became one of their slogans. The Finnish IT company called Vincit has turned out to be a success story both financially and in terms of personnel and customer satisfaction. The company is known for its skillful use of media as a d...

This article examines the development of funding schemes at Finnish universities of applied sciences (UASs) between 2012 and 2018. During that period, the rudiments of the financing of Finnish UASs changed from cost-based to performance-based funding schemes. In a performance-based funding scheme, the state allocates funding based on the achievemen...

The recent short squeeze in the financial markets has highlighted the unprecedented activity of the retain investors.

In modern publicly traded corporations, the commitment of directors is not restricted to only one firm, and corporate directors can hold multiple directorships simultaneously. Nonetheless, it is important to investigate how many directorships corporate directors can hold, because, if no limits are placed on multiple directorship assignments accepte...

Financial Technology (FinTech, hereafter) has integrated with the banking sector. Despite its fast growth, FinTech is a relatively new and under-explored phenomenon in the academic and corporate spheres. The current study aims to explore, first, the role and relevance of FinTech in the commercial banking sector in Finland; and second, the changing...

This international online conference ― Corporate Governance: A Search for Emerging Trends in the Pandemic Times held by the team and international scholarly network of Virtus Global Center for Corporate Governance is an excellent platform to present, discuss and share the most recent ideas in the corporate governance research. This conference is th...

The phenomena of accounting manipulations and bankruptcy likelihood have always been a topic of interest among researchers. The key objective of the current study is to examine the impact of fraudulent accounting practices on the likelihood of bankruptcy, and the performance of firms. Beneish M-score model and Jones model have been applied to evalu...

MOC Faculty Workshop Research Day – December 7th, 2020 Institute for Competitiveness & Strategy Harvard Business School

Financial Technology (FinTech, hereafter) has integrated with the operations of the financial sector, in general, and banking sector, in particular. However, FinTech is a relatively new and under-explored phenomenon, both in the academic and corporate spheres. The current study aims to explore the following research objectives: the role and relevan...

Paper presentation

Conference poster

Paper Presentation

The current study is based on review of literature to analyses how independence, expertise and experience of audit committees can influence the quality of financial reporting. After studying a vast and diverse range of literature pertaining to the audit committees and governance issues, it has been possible through this study to demonstrate several...

The decision pertaining to the capital structure is one of the most strategic, perpetual, and at the same time challenging corporate decisions. Having an optimum capital structure is an important aspect of the financing of firms. Firms often struggle to create an optimum balance between their debt and equity. The current chapter aims to explore whe...

Firms’ financing, boards of directors’ characteristics, investments, and firm-performance (financial and non-financial) occupy a pivotal place in corporate finance and corporate governance literature. The current study explores if causalities between the abovementioned four distinct albeit inter-related phenomena follow any pattern. The data compri...

The relationship between the risk and return has always been a topic of interest to investors and academics. Capital Asset Pricing Model (hereafter, CAPM) is one of the most important theoretical foundations in the field of finance. The current study examines, first, the relationship between return and risk in the context of the Finnish stock marke...

Both explicit and implicit pressures on the public funded universities have been increasing to mobilize financial resources in order to remain competitive. The current theoretical paper addresses the following research objectives- first, how the existing governance structure of universities is responding to, or prepared to respond to need to mobili...

The Finnish higher education system has recently gone through many changes. There is a national government project in Finland aiming at making Finland the most educated nation by year 2020. The program also aims at improving the quality of work life in Finland to make it the best in Europe by year 2020. At the same time, the country has experienced...

The concept of corporate capital structure is dynamic in nature as the changing economic and business situations influence on it. Financial crisis of 2007-2008, among other things, have led companies to bring important changes in their capital structure. In turn, capital structure has also influenced corporate risks and the weighted average cost of...

The purpose of the paper is to investigate, first, the association between multiple directorship assignments (busyness) undertaken by corporate directors and firm performance, second, whether endogenously determined limits of multiple directorships, highlighting the ownership structure and other institutional settings, explain the above association...

The audit committees, as a part of the internal corporate governance mechanisms, play an important role to enhance the financial reporting quality. The busyness of audit committee members of a firm in boards and committees of other firms can affect its independent functioning, ceteris paribus. The current study examines, first, the association betw...

The audit committees, as a part of the internal corporate governance mechanisms, play an important role to enhance the financial reporting quality. The busyness of audit committee members of a firm in boards and committees of other firms can affect its independent functioning, ceteris paribus. The current study examines, first, the association betw...

The current paper, a review of literature, examines the association between the Economic Value Added (EVA) and the firm decision making and performance, and the interplay between the EVA and various dynamics of agency costs. The choice of both objectives is motivated by the inability of traditional accounting performance measures to reflect true fi...

Both internal and external control issues have been widely discussed in accounting and audit research under the recent financial crises (see e.g. Humphrey et al., 2009; Jackling et al., 2007; Jensen, 2012). However, when analyzing the similarities and differences between the operations and actors of control aspects we suggest that internal and exte...

The current study is based on the review of literature to analyses how independence, expertise and experience of audit committees can influence the quality of financial reporting. After studying a vast and diverse range of literature pertaining to the audit committees and governance issues, an effort has been made through this study to demonstrate...

This paper is a part of my doctorate project entitled Corporate Governance of Multinational Corporations in their Subsidiaries in India. The purpose of this paper is to investigate the corporate governance system of India, especially the post liberalization, privatization and globalization (LPG) developments in the domain of corporate governance. T...