Contact Professor Yacine Belghitar
- Tel: +44 (0) 1234 754557
- Email: yacine.belghitar@cranfield.ac.uk
Background
Professor Yacine is Professor of Corporate Finance and Head of the Finance and Accounting Group at Cranfield University. His research helps organisations unlock value through financial strategy, sustainable growth, and scaling. He leads Cranfield’s executive education programme Financial Intelligence for Strategic Leaders and is Course Director for the MSc in Finance.
He has advised private equity firms, worked with international energy companies, and is an independent advisor on corporate financial strategy and governance.
Current activities
Yacine's research lies at the intersection of finance, small business, and corporate strategic decision-making. His work on managerial compensation and risk-taking has been funded by the ESRC, the UK’s leading social science funding body.
He is Associate Editor of Frontiers in Finance and Economics, which publishes peer-reviewed research in finance and economics relevant to the wider business community. He also serves as an ad hoc referee for several academic journals and is an external examiner for two academic institutions.
He has supervised fifteen doctoral completions and has a strong track record of supporting postgraduate research students. He is an active contributor to national and international academic conferences.
His research has been widely published in leading international journals, including the Economic Journal, the Journal of Financial Research, the Journal of Banking and Finance, Small Business Economics, and the British Journal of Management.
Publications
Articles In Journals
- Wijaya IF, Moro A, Belghitar Y & Prabowo MA. (2025). Islam and early-stage entrepreneurial activity in Indonesia: religion is not the opium of entrepreneurship. Journal of Small Business and Enterprise Development, 32(8)
- Moro A, Gartner J & Belghitar Y. (2024). News Contagion, Investors’ Decisions, and ICOs’ Success. Academy of Management Proceedings, 2024(1)
- Saade AJ, Alexiou C & Belghitar Y. (2024). The scarring effects of initial labor market conditions on South Korean nurses. Seoul Journal of Economics, 37(3)
- Saade AJ, Alexiou C & Belghitar Y. (2024). Inheritance expectations and social isolation: evidence from South Korea. Seoul Journal of Economics, 37(4)
- Saade AJ, Alexiou C & Belghitar Y. (2022). Robotization and labor supply in the context of a dynamic monopsony: novel evidence from South Korea. Seoul Journal of Economics, 35(3)
- Whitehead M & Belghitar Y. (2022). Responding to a corruption crisis through disclosure and remedial action: the case of Petrobras. The British Accounting Review, 54(5)
- Fatwa Wijaya I, Moro A & Belghitar Y. (2022). Does religiosity affect financing activity? Evidence from Indonesia. Business Ethics, the Environment & Responsibility, 32(2)
- Nnadi M, Surichamorn V, Jayasekera R & Belghitar Y. (2022). Empirical analysis of debt maturity, cash holdings and firm investment in developing economies. International Journal of Finance and Economics, 27(3)
- Belghitar Y, Clark E, Dropsy V & Mefteh-Wali S. (2021). The effect of exchange rate fluctuations on the performance of small and medium sized enterprises: Implications for Brexit. The Quarterly Review of Economics and Finance, 80(May)
- Belghitar Y, Moro A & Radić N. (2021). When the rainy day is the worst hurricane ever: the effects of governmental policies on SMEs during COVID-19. Small Business Economics, 58(2)
- Moro A, Belghitar Y & Mateus C. (2021). National culture and small firms' use of trade credit: evidence from Europe. Global Finance Journal, 49(August)
- Wijaya IF, Moro A & Belghitar Y. (2021). Trust in Islamic business-to-business relationships: evidence from Indonesia. British Journal of Management, 34(1)
- Gontarek W & Belghitar Y. (2020). CEO chairman controversy: evidence from the post financial crisis period. Review of Quantitative Finance and Accounting, 56(2)
- Moro A, Belghitar Y & Mateus C. (2020). Trade Credit and SMEs: “It is All Down to Culture”. Academy of Management Proceedings, 2020(1)
- Saeed A, Belghitar Y & Clark E. (2019). Political connections and corporate performance: evidence from Pakistan. Economics of Transition and Institutional Change, 27(4)
- Saeed A, Mukarram SS & Belghitar Y. (2019). Read between the lines: board gender diversity, family ownership, and risk‐taking in Indian high‐tech firms. International Journal of Finance & Economics, 26(1)
- Belghitar Y, Clark E & Saeed A. (2018). Political connections and corporate financial decision making. Review of Quantitative Finance and Accounting, 53(4)
- Belghitar Y, Clark E & Kassimatis K. (2018). A measure of total firm performance: new insights for the corporate objective. Annals of Operations Research, 281(1-2)
- Gontarek W & Belghitar Y. (2018). Risk governance: examining its impact upon bank performance and risk-taking. Financial Markets, Institutions & Instruments, 27(5)
- Belghitar Y, Clark E & Deshmukh N. (2017). Importance of the fund management company in the performance of socially responsible mutual funds. Journal of Financial Research, 40(3)
- Saeed A, Belghitar Y & Clark E. (2017). Political connections and firm operational efficiencies: evidence from a developing country. Review of Managerial Science, 11(1)
- Saeed A, Belghitar Y & Yousaf A. (2016). Firm-level determinants of gender diversity in the boardrooms: Evidence from some emerging markets. International Business Review, 25(5)
- Saeed A, Belghitar Y & Clark E. (2016). Do Political Connections Affect Firm Performance? Evidence from a Developing Country. Emerging Markets Finance and Trade, 52(8)
- Saeed A, Belghitar Y & Clark E. (2015). Political Connections and Leverage: Firm-level Evidence from Pakistan. Managerial and Decision Economics, 36(6)
- Belghitar Y & Clark E. (2015). Managerial risk incentives and investment related agency costs. International Review of Financial Analysis, 38
- Belghitar Y, Clark E & Deshmukh N. (2014). Does it pay to be ethical? Evidence from the FTSE4Good. Journal of Banking & Finance, 47(1)
- Saeed A, Belghitar Y & Clark E. (2014). Theoretical motives of corporate cash holdings and political connections: firms level evidence from a developing economy. International Review of Applied Economics, 28(6)
- Belghitar Y & Clark E. (2014). Convexity, magnification, and translation: The effect of managerial option-based compensation on corporate cash holdings. Journal of Financial Research, 37(2)
- Al-Najjar B & Belghitar Y. (2014). Do corporate governance mechanisms affect cash dividends? An empirical investigation of UK firms. International Review of Applied Economics, 28(4)
- Belghitar Y, Clark E & Mefteh S. (2013). Foreign currency derivative use and shareholder value. International Review of Financial Analysis, 29
- Belghitar Y & Khan J. (2013). Governance mechanisms, investment opportunity set and SMEs cash holdings. Small Business Economics, 40(1)
- Belghitar Y & Clark EA. (2012). The Effect of CEO Risk Appetite on Firm Volatility: An Empirical Analysis of Financial Firms☆. International Journal of the Economics of Business, 19(2)
- Belghitar Y & Dixon R. (2012). Do venture capitalists reduce underpricing and underperformance of IPOs?. Applied Financial Economics, 22(1)
- Belghitar Y, Clark E & Kassimatis K. (2011). The prudential effect of strategic institutional ownership on stock performance. International Review of Financial Analysis, 20(4)
- Al-Najjar B & Belghitar Y. (2011). Corporate cash holdings and dividend payments: evidence from simultaneous analysis. Managerial and Decision Economics, 32(4)
- Belghitar Y & Belghitar GS. (2010). The Role of Critical Evaluation in Finance Education: Insights from an MSc Programme. Accounting Education, 19(6)
- Parker SC & Belghitar Y. (2006). What Happens to Nascent Entrepreneurs? An Econometric Analysis of the PSED. Small Business Economics, 27(1)
- Parker SC, Belghitar Y & Barmby T. (2005). Wage Uncertainty and the Labour Supply of Self‐Employed Workers. The Economic Journal, 115(502)
Books
- Belghitar Y, Clark E & Mefteh-Wali S. (2018). Foreign Currency Derivative Use and Shareholder Value In Evaluating Country Risks for International Investments. WORLD SCIENTIFIC.
- Belghitar Y & Clark E. (2011). Capital Budgeting with Political/Country Risk In Baker K & English P (eds), Capital Budgeting Valuation: Financial Analysis for Today’s Investment Projects. Wiley.