Portrait of Professor Meziane Lasfer

Professor Meziane Lasfer

Professor of Finance

Bayes Business School, Finance

Contact

Visit Meziane Lasfer

Room BR5049, Bunhill Row

Postal address

City St George's, University of London
Northampton Square
London
EC1V 0HB
United Kingdom

About

Overview

Research and Teaching Interests
Applied Corporate Finance:
• Dividend Policy: Taxes and dividends, Ex-day price behaviour, Dividends and investments in R&D
• Financing: Capital structure, IPOs, SEOs, Leasing
• Corporate Restructuring: M&A, Spin-offs, Carve-outs, Divestments, Share repurchases, Corporate recovery
Capital Markets: Share prices and news announcements, Insider trading, Institutional trading, Efficiency
Corporate Governance: Ownership, Board structure, Compensation

Meziane Lasfer won a scholarship towards a master's degree and followed this up with accounting and corporate finance qualifications from the LSE and University of Bath. He joined the Business School in 1990. He has written extensively on Corporate Finance, Capital Markets and Corporate Governance issues. His research is widely reported in the financial press and was sponsored by the National Association of Pension Funds (NAPF), the Finance Lease Association (FLA) and the Institute of Chartered Accountants in England and Wales (ICAEW), the Chartered Institute of Management Accountants (CIMA) and various companies (e.g., BP, Donaldson’s and Land Securities-Trillium). The outcome of his research is published in top academic journals such as Journal of Finance, Journal of Finance and Quantitative Analysis, Journal of Banking and Finance, Journal of Corporate Finance, Journal of Business Finance and Accounting, Financial Management and European Financial Management. Meziane was the Director of the MSc Finance programme, the PhD programme, and acted as Director of Research. He teaches Corporate Finance, Financial Analysis, Research project Management and Financial Economics to MBA, MSc and PhD students. In addition he taught executives in UK and abroad. His outstanding teaching performance led him to win the first Dean's Prize for Teaching Excellence in 1998, 2003, 2006 and 2008. He was visiting professor at HEC Paris, University Paris Dauphine, and University Paris XII Creteil.

His research was discussed in the UK Parliament: https://hansard.parliament.uk/Lords/1997-10-22/debates/f0d60944-95d7-4063-a2c5-ffb8b1eb6bf1/SavingForRetirement?highlight=peter%20lilley%20city%20university%20business%20school#contribution-0935f47c-08b9-4abf-ade7-d360d16188cd

It is also widely reviewed in the financial press:
• Financial Times
• YouTube videos
• Bloomberg
• Los Angeles Times
• The Guardian
• Gulf News
• The National

For the latest SSRN Publications: http://ssrn.com/author=051800

Qualifications

  • PhD, University of Bath, United Kingdom, Jan 1985 – Jan 1987
  • Dip (LSE), London School of Economics and Political Science, United Kingdom, 1981 – 1982
  • BSc (ESC), Unknown, unknown

Employment

  • Visiting Professor, University of Bologna, 2012 – 2018
  • Visiting Professor, University of Lisbon, Jan 2006 – present
  • Visiting Professor, Paris Dauphine University, Jan 2003 – present
  • Visiting Professor, Hautes Etudes Commerciales de Paris, Jan 2000 – Jan 2001
  • Visiting Professor, Paris 8 University, Jan 1999 – Jan 2003
  • Professor of Finance, City, University of London, 1990 – present

Memberships of professional organisations

  • European Finance Association (EFA), Jan 2000 – present
  • American Finance Association (AFA), Jan 1994 – present
  • Financial Management Association, Jan 1992 – present

Languages

Arabic (can read), Berber languages (can read, write, speak and understand spoken), English (can read, write, speak, understand spoken and peer review) and French (can read, write, speak, understand spoken and peer review).

Expertise

Primary topics

  • Mergers & Acquisitions
  • Venture Capital
  • Asset Pricing
  • Bankruptcy & Liquidation
  • Financial Economics
  • Private Equity
  • Corporate Governance
  • Accounting
  • Real Estate Finance
  • Capital Markets
  • Finance
  • Asset Valuation
  • Corporate Finance

Industries

  • investment banking

Geographic Areas

  • Africa
  • Asia - Southeast
  • Europe - Western
  • Middle East

Research

Over the last three years I focussed on insider trading and carried on working on dividends. In terms of insider trading I looked in the past at the information content of insider trading in seasoned firms (one paper published in a 3* journal). Now I focussed on trading in Initial Public Offerings (IPOs) where the information asymmetry problem is higher (two papers under review in good journals).
In terms of dividends I worked on the impact of taxation and governance on dividends across 24 OECD countries. The paper is now published. I intend to extent this analysis further by testing the impact of dividends on mergers and acquisitions (I have one PhD student woirking on the topic), the testing of the catering theory of dividend across markets, and the dividend policy of IPOs (one of my students completed his PhD on the topic and we are writing joint papers). I also worked on share repurchases across Europe (one completed paper under review).
I also worked on the market behaviour following large price shocks (one paper published) and I started working on the recovering strategies adopted by financially distressed firms, the delisting strategies of firms from the stock markets, and the impact of size on the firms' capital structure.

Research topics

Insider Trading before IPO Lockup Expiry Dates: Evidence from the UK

Insider Trading and International Cross-Listing

Does duality destroy value?

The Impact of Mergers and Acquisitions on Dividends: A Cross-Country Analysis

Determinants of non-executive remuneration in the UK

The Recovery Strategies of Financially Distressed Firms

Research students

1st supervisor

  • Xiaoke Ye, Research Student

Siyang Tian

Attendance: Sep 2014 – Mar 2017, full-time

Thesis title: Mergers and Acquisitions

Role: 1st Supervisor

Natalia Matanova

Attendance: Oct 2011 – Feb 2015, full-time

Thesis title: PE and VC Investments in Post IPO Periods

Role: 1st Supervisor

Eilnaz Kashefi Poor

Attendance: Oct 2008 – Jul 2012, full-time

Thesis title: leverage of small and large firms

Role: 1st Supervisor

Tao Ma

Attendance: Oct 2006 – Dec 2012, full-time

Thesis title: Dividend Policy

Role: 1st Supervisor

Dimitris Andrioopoulos

Attendance: Oct 2006 – Oct 2010, full-time

Thesis title: Share Buybacks in Europe

Role: 1st Supervisor

Hafiz Al A E Hoque

Attendance: Oct 2006 – Oct 2010, full-time

Thesis title: Insider Trading

Role: 1st Supervisor

Hahn Peter

Attendance: Oct 2004 – Sep 2008, full-time

Thesis title: Board of Directors

Role: 1st Supervisor

Laxmi Iyer

Attendance: Oct 2002 – Sep 2008, full-time

Thesis title: Bankruptcy and Recovery Strategies

Role: 1st Supervisor

Welcome Sibanda

Attendance: Oct 1997 – Mar 2005, full-time

Thesis title: Pension Funds Investments

Role: 1st Supervisor

Ms A Ersoy-B

Attendance: Oct 1997 – May 2002, full-time

Thesis title: Institutional Investors Investments

Role: 1st Supervisor

Mara Faccio

Attendance: Oct 1997 – Jan 1999, full-time

Thesis title: Pension funds investments

Role: 1st Supervisor

Publications

Chapters (3)

  1. Lasfer, M.A. (2004). On the monitoring role of the board of directors: the case of the adoption of Cadbury recommendations in the UK. Corporate Governance (Advances in Financial Economics) (pp. 287–326). Emerald Group Publishing Limited. ISBN 978-0-7623-1133-0.
  2. Lasfer, M. and Faccio, M. (2004). Do Occupational Pension Funds Monitor Companies in Which They Hold Large Stakes? In Keasey, K., Thompson, S. and Wright, M. (Eds.), Corporate Governance (International Library of Critical Writings in Economics Series) Edward Elgar Publishing.
  3. Lasfer, M.A. and Faccio, M. (2002). Institutional Shareholders and Corporate Governance: the Case of UK Pension Funds. In McCahery, J., Moerland, P., Raaijmakers, T. and Renneboog, L. (Eds.), Corporate Governance Regimes: Convergence and Diversity Oxford University Press.

Conference papers and proceedings (67)

  1. Lasfer, M. and Korczak, A. (2009). Foreign Shareholder Activism and Insider Trading Before Material News Announcements. European Accounting Association.
  2. Lasfer, M. and Hoque, H. (2009). Insider trading and lock up arrangements. European Finance Association Bergen, Norway.
  3. Lasfer, M. and Hoque, H. (2009). Insider Trading and Lockup Arrangements. Multinational Finance Association Greece.
  4. Lasfer, M. and Hoque, H. (2009). Insider Trading before IPO Lockup Expiry Dates. European Financial Management.
  5. Lasfer, M. and Andriosopoulos, D. (2009). Share Buyback in Europe. Multinational Finance Association Greece.
  6. Lasfer, M., Koczak, A. and Koczak, P. (2009). The strategic trading of insiders. Journal of Business Finance and Accounting (JBFA) Capital Markets Conference Venice, Italy.
  7. Lasfer, M. and Rymer, L. (2008). Corporate financial distress in the UK. Corporate Bankruptcy Ghent Belgium.
  8. Lasfer, , Meziane, and Cahit, (2008). Scrip dividends in Inflationary environment. Financial Management Europe Vienna.
  9. Lasfer, , Meziane, and AlZahrani, M. (2008). Taxes and dividends. Asian-Pacific Finance Association Tokyo.
  10. Lasfer, , Meziane, and AlZahrani, M. (2008). Taxes and dividends. European Financial Management Association meeting Athens.
  11. Lasfer, , Meziane, and AlZahrani, M. (2008). Taxes and dividends. Western Finance Association Hawaii.
  12. Lasfer, M. (2008). Various: Taxes and dividends, Non-executive directors pay, Meetings. Various universities: Cass, MBS, Reading, Paris Dauphine, University of Amiens London, Manchester, Paris, Amiens.
  13. Lasfer, , Meziane, and Adriana, (2007). Insider trading and cross-listing. European Financial Management Vienna.
  14. Lasfer, , Meziane, and Adriana, (2007). Insider trading around news annoucements. European Financial Management Vienna.
  15. Lasfer, M. (2007). Meetings paper, Non-executive pay, insider trading. Various: Cranfield, MBS, Aston ... Cranfiled, Manchester, Birmingham.
  16. Lasfer, M. (2007). Trading strategies around dividends and repurchases. Barclays Global Investors BGI London.
  17. Lin, S.X., Lasfer, M. and Muradoglu, G. (2007). Market Behaviour of Foreign versus Domestic Investors Following a Period of Stressful Circumstances. 2nd Annul Conference on ASIA-PACIFIC Financial Markets OF THE KOREAN SECURITIES ASSOCIATION (KSA) Seoul, Korea.
  18. Lasfer, M. (2006). Does Cross-Listing Mitigate Insider Trading? European Financial Management Association meeting Madrid, Spain.
  19. Korczak, A. and Lasfer, M. (2006). Does Cross-Listing Mitigate Insider Trading? Financial Management Europe Stockholm, Sweden.
  20. Lasfer, M. (2006). Does Cross-Listing Mitigate Insider Trading? French Finance Accociation, Plenary session: Distinguished invited speaker Poitier, France.
  21. Lasfer, M., Muradoglu, G. and Lin, S. (2006). Market behaviour of foreign versus domestic investors following a period of stressful circumstances. 30th anniversary conference of journal of Banking of Finance Beijing, China.
  22. Lasfer, M., Muradoglu, G. and Lin, S. (2006). Market behaviour of foreign versus domestic investors following a period of stressful circumstances. American Financial Management Association Meeting Utah, USA.
  23. Korczak, A. and Lasfer, M. (2005). Insider Trading and International Cross-Listing. Financial Management International (FMA) Chicago.
  24. Gajewski, J.-.F., Ginglinger, E. and Lasfer, M. (2005). Why do Companies Include Warrants in Seasoned Equity Offerings: The case of French Unit Offerings. European Financial Management Milan.
  25. Lasfer, M. (2005). Why do companies lease their property? Financial Management International (FMA) Chicago.
  26. Adaoglu, C. and Lasfer, M. (2004). The Market Valuation of Bonus Issues in a Closely Held Market. Multinational Finance Association Istanbul.
  27. Zenonos, M. and Lasfer, M. (2004). The market valuation of dividends in Europe. Financial Management Association New Orleans, USA.
  28. Lasfer, M. (2004). When Do Insiders Trade? Financial Management Association New Orleans, USA.
  29. Lasfer, M. (2004). Why do companies lease their property? Multinational Finance Association Istanbul, Turkey.
  30. Zenonos, M. and Lasfer, M. (2003). Ex-day price behaviour across European counties. European Finance Association Glasgow.
  31. Zenonos, M. and Lasfer, M. (2003). Ex-day price behaviour across European counties. European Financial Management Association Meeting, 25 June Helsinki.
  32. Lasfer, M. (2003). Why do insiders trade: An empirical investigation. European Financial Management Association Helsinki.
  33. Lasfer, M. (2002). Board Structure and Agency COsts. Financial Management International San Antonio, USA.
  34. Lasfer, M. (2002). Determinants of Board Structure. European Financial Management conference London.
  35. Lasfer, M. (2002). Determinants of Board Structure. Multinational Finance Association Cyprus.
  36. Gingingler, E. and Lasfer, M. (2002). Units Openings in France. Multinational Finance Conference Cyprus.
  37. Ersoy Bozcuk, A. and Lasfer, M. (2001). Institutional Trades. European Financial Management Lugano.
  38. Ersoy Bozcuk, A. and Lasfer, M. (2001). Institutional Trades. Financial Management Association International Toronto, Canada.
  39. Lasfer, M. (2001). Share Repurchases. Financial Management Europe Paris.
  40. Faccio, M. and Lasfer, M. (2000). Managerial Ownership, Board Structure and Firm Value: The UK Evidence. Financial Management Association International Seattle.
  41. Lasfer, M. (2000). Dividend Payments and Firm's Investments in Growth Opportunities. American Finance Association meeting Boston.
  42. Lasfer, M. (2000). Share Repurchases in Europe: Why is the Market Under-Reaching in the UK? European Financial Management Association Meeting Athens.
  43. Ersoy Bozcuk, A. and Lasfer, M. (2000). Shareholder Groups and Corporate Monitoring: The UK Evidence. Financial Management Association International Seattle.
  44. Lasfer, M. (1999). Dividend Payments and Firm's Investment in Growth Opportunities. European Financial Management, Paris.
  45. Faccio, M. and Lasfer, M. (1999). Ownership Structure and Board Composition. European Financial Management Paris.
  46. Lasfer, M. (1999). Share Repurchases in Europe: Why is the Market Under-Reacting in the UK? Financial Management International Orlando, USA.
  47. Lasfer, M. (1999). The Market Reaction to Share Repurchases Announcements: The UK Evidence,. Financial Management International Orlando, USA.
  48. Lasfer, M. (1998). Do Dividend Payouts Depress R&D Expenditures? National Association of Pension Funds Annual Conference Eastbourne.
  49. Lasfer, M. (1998). Do Pension Funds Monitor Companies in Which They Hold Large Shares? European Financial Management Lisbon.
  50. Lasfer, M. (1998). Large Stock Price Changes and the Overreaction Hypothesis: An International Comparison. European Financial Management Lisbon.
  51. Lasfer, M. (1998). Dividend Payments and Firms' Investments in Growth Opportunities. Financial Management Chicago, USA.
  52. Lasfer, M. (1997). Do Pension Funds Monitor Companies in Which They Hold Large Shares. Brunel University.
  53. Lasfer, M. (1997). Debt Structure, Agency Costs and Firm Size. European Financial Management Istanbul.
  54. Lasfer, M. (1997). Determinants of Leasing of Small and Large Firms. European Financial Management Istanbul.
  55. Lasfer, M. (1997). Determinants of Leasing of Small and Large Firms. University of Hull.
  56. Lasfer, M. (1997). On the Motivation for Paying Scrip Dividends. London Business School.
  57. Lasfer, M. (1996). Ex-day Returns and Post Announcement. French Finance Association Geneva.
  58. Lasfer, M. (1996). On The Motivation for Paying Scrip Dividends. European Finance Association Oslo.
  59. Lasfer, M. (1996). On The Motivation for Paying Scrip Dividends. Financial Management Association New Orleans.
  60. Lasfer, M. (1996). Debt Financing of Small Firms. European Financial Management Association Innsbruck.
  61. Lasfer, M. (1996). On the Motivation for Paying Scrip Dividends. University of Neufchatel, Switzerland.
  62. Lasfer, M. (1996). On the Motivation for Paying Scrip Dividends. University of Rutgers, USA.
  63. Lasfer, M. (1995). Ex-day Price Behaviour: Tax or Short-Term Trading Effects. American Finance Association Washington DC.
  64. Lasfer, M. (1995). Ex-day Price Behaviour: Tax or Short-Term Trading Effects. Lancaster University.
  65. Lasfer, M. (1995). Debt, Taxes and Agency Costs: the UK Evidence. Asia-Pacific Finance Association, Hong-Kong.
  66. Lasfer, M. (1995). Debt, Taxes and Agency Costs: The UK evidence. University College Dublin.
  67. Lasfer, M. (1995). Scrip Dividends: The Management's View. European Financial Management London.

Internet publications (3)

  1. Vitkova, V., Golubov, A. and Lasfer, M.A. (2018). Are they Listening? An M&A Approach to Dividend Catering. M&A Research Centre Practitioner Paper Series 2018.
  2. Lasfer, M. (2009). QFinance: Acquiring a Secondary Listing, or Cross-Listing. Qatar Financial Centre.
  3. Lasfer, M. (2009). QFinance: Optimizing the Capital Structure. Finding the Right Balance between Debt and Equity. Qatar Financial Centre.

Journal articles (44)

  1. Lasfer, M. and Ye, X. (2024). Executive Equity-Based Compensation and Tournament Incentives. European Financial Management.

    [publisher’s website]

  2. Lasfer, M. and Ye, X. (2024). Corporate insiders’ exploitation of investors’ anchoring bias at the 52‐week high and low. Financial Review, 59(2), pp. 391–432. doi:10.1111/fire.12371.

    [publisher’s website]

  3. Chen, J., Lasfer, M., Song, W. and Zhou, S. (2021). Recession managers and mutual fund performance. Journal of Corporate Finance, 69, pp. 102010–102010. doi:10.1016/j.jcorpfin.2021.102010.

    [publisher’s website]

  4. Golubov, A., Lasfer, M. and Vitkova, V. (2020). Active catering to dividend clienteles: Evidence from takeovers. Journal of Financial Economics, 137(3), pp. 815–836. doi:10.1016/j.jfineco.2020.04.002.

    [publisher’s website]

  5. Bruyland, E., Lasfer, M., De Maeseneire, W. and Song, W. (2019). The performance of acquisitions by high default risk bidders. Journal of Banking & Finance, 101, pp. 37–58. doi:10.1016/j.jbankfin.2019.01.019.

    [publisher’s website]

  6. Lasfer, M.A. and Kashefi Pour, E. (2018). Taxes, Governance, and Debt Maturity Structure: International Evidence. Journal of International Financial Markets, Institutions and Money. doi:10.1016/j.intfin.2018.09.011.
  7. Hahn, P.D. and Lasfer, M. (2016). Impact of foreign directors on board meeting frequency. International Review of Financial Analysis, 46, pp. 295–308. doi:10.1016/j.irfa.2015.11.004.

    [publisher’s website]

  8. Boubaker, S., Derouiche, I. and Lasfer, M. (2015). Geographic location, excess control rights, and cash holdings. International Review of Financial Analysis, 42, pp. 24–37. doi:10.1016/j.irfa.2014.07.008.

    [publisher’s website]

  9. Andriosopoulos, D. and Lasfer, M. (2015). The market valuation of share repurchases in Europe. Journal of Banking & Finance, 55, pp. 327–339. doi:10.1016/j.jbankfin.2014.04.017.

    [publisher’s website]

  10. Hoque, H. and Lasfer, M. (2015). Directors' Dealing and Post‐IPO Performance. European Financial Management, 21(1), pp. 178–204. doi:10.1111/j.1468-036x.2013.12013.x.

    [publisher’s website]

  11. Kashefi Pour, E. and Lasfer, M. (2013). Why do companies delist voluntarily from the stock market? Journal of Banking & Finance, 37(12), pp. 4850–4860. doi:10.1016/j.jbankfin.2013.08.022.

    [publisher’s website]

  12. Alzahrani, M. and Lasfer, M. (2012). Investor protection, taxation, and dividends. Journal of Corporate Finance, 18(4), pp. 745–762. doi:10.1016/j.jcorpfin.2012.06.003.

    [publisher’s website]

  13. Lasfer, M., Xiaowen Lin, S. and Muradoglu, G. (2012). Optimism in foreign investors. Review of Behavioural Finance, 4(1), pp. 8–27. doi:10.1108/19405971211261083.

    [publisher’s website]

  14. Hahn, P.D. and Lasfer, M. (2011). The compensation of non-executive directors: Rationale, form, and findings. Journal of Management and Governance, 15(4), pp. 589–601. doi:10.1007/s10997-010-9134-5.
  15. Adaoglu, C. and Lasfer, M. (2011). Why Do Companies Pay Stock Dividends? The Case of Bonus Distributions in an Inflationary Environment. Journal of Business Finance & Accounting, 38(5-6), pp. 601–627. doi:10.1111/j.1468-5957.2011.02233.x.

    [publisher’s website]

  16. Korczak, A., Korczak, P. and Lasfer, M. (2010). To Trade or Not to Trade: The Strategic Trading of Insiders around News Announcements. Journal of Business Finance & Accounting, 37(3-4), pp. 369–407. doi:10.1111/j.1468-5957.2010.02185.x.

    [publisher’s website]

  17. Hahn, P.D. and Lasfer, M. (2010). The compensation of non-executive directors: rationale, form, and findings. Journal of Management and Governance pp. 1–13.
  18. Lasfer, M. (2008). Ex-day price behaviour in UK and Germany. National Tax Journal, 61, pp. 721–742.
  19. Lasfer, M. (2008). Taxes and ex-day returns: Evidence from Germany and the U.K. National Tax Journal, 61(4 PART 1), pp. 721–742. doi:10.17310/ntj.2008.4.08.
  20. Lasfer, M. (2007). On the financial drivers and implications of leasing real estate assets. Journal of Corporate Real Estate, 9(2), pp. 72–96. doi:10.1108/14630010710828090.

    [publisher’s website]

  21. Gajewski, J.-.F., Ginglinger, E. and Lasfer, M. (2007). Why do companies include warrants in seasoned equity offerings? Journal of Corporate Finance, 13(1), pp. 25–42. doi:10.1016/j.jcorpfin.2006.05.001.

    [publisher’s website]

  22. Lasfer, M. and Bozcuk, A. (2007). Changes in Block Ownership in the London Stock Exchange. International Journal of Business, 13(Winter), pp. 85–99.
  23. Lasfer, M.A. (2006). The interrelationship between managerial ownership and board structure. JOURNAL OF BUSINESS FINANCE & ACCOUNTING, 33(7-8), pp. 1006–1033. doi:10.1111/j.1468-5957.2006.00600.x.
  24. Lasfer, M.A. (2006). Discussion of Separation of Ownership from Control and Acquiring Firm Performance: The Case of Family Ownership in Canada. Journal of Business Finance and Accounting, 33(3-4), pp. 544–549. doi:10.1111/j.1468-5957.2006.00632.x.
  25. Lasfer, M.A. and Bozcuk, A. (2005). The Information Content of Institutional Trades on the London Stock Exchange. Journal of Financial and Quantitative Analysis, 40, pp. 621–644.
  26. Bozcuk, A. and Lasfer, M.A. (2005). The information content of institutional trades on the London stock exchange. Journal of Financial and Quantitative Analysis, 40(3), pp. 621–644. doi:10.1017/s0022109000001897.
  27. Lasfer, M. and Morzaria, K. (2004). United Kingdom: Bidder's attitude determines M&A success. International Financial Law Review (IFLR), The IFLR Guide to Mergers and Acquisitions 2004(April Supplement), pp. 187–189.
  28. Lasfer, M. (2004). On the monitoring role of the board of directors: the case of the adoption of Cadbury recommendations in the UK. Advances in Financial Economics, 9, pp. 287–326.
  29. Lasfer, M.A., Melnik, A. and Thomas, D.C. (2003). Short-term reaction of stock markets in stressful circumstances. Journal of Banking and Finance, 27(10), pp. 1959–1977. doi:10.1016/S0378-4266(02)00313-8.
  30. Lasfer, M., Melnik, A. and Thomas, D.C. (2003). Short-term reaction of stock markets in stressful circumstances. Journal of Banking and Finance, 27, pp. 1959–1977.
  31. Lasfer, M.A. and Faccio, M. (2000). Do occupational pension funds monitor companies in which they hold large stakes? Journal of Corporate Finance, 6, pp. 71–110.
  32. Faccio, M. and Lasfer, M.A. (2000). Do occupational pension funds monitor companies in which they hold large stakes? Journal of Corporate Finance, 6(1), pp. 71–110. doi:10.1016/s0929-1199(99)00016-4.
  33. Lasfer, M.A. and Levis, M. (1998). The Determinants of the Leasing Decision of Small and Large Companies. European Financial Management, 4(2), pp. 159–184. doi:10.1111/1468-036x.00062.

    [publisher’s website]

  34. Lasfer, M. (1997). On the Motivation for Paying Scrip Dividends. Financial Management, 26, pp. 62–80.
  35. Lasfer, M.A. (1997). On the motivation for paying scrip dividends. Financial Management, 26(1), pp. 62–80. doi:10.2307/3666240.
  36. Lasfer, M.A. (1997). Scrip Dividends: the Management's View. European Financial Management, 3(2), pp. 237–249.
  37. Lasfer, M., Sudarsanam, S. and Taffler, R.J. (1996). Financial Distress, Asset Sales, and Lender Monitoring. Financial Management, 25, pp. 57–66.
  38. Lasfer, M. (1996). Taxes and dividends: The UK evidence. Journal of Banking and Finance, 20, pp. 455–472.
  39. Lasfer, M.A. (1996). Taxes and dividends: The UK evidence. Journal of Banking and Finance, 20(3), pp. 455–472. doi:10.1016/0378-4266(95)00012-7.
  40. Lasfer, M.A., Sudarsanam, P.S. and Taffler, R.J. (1996). Financial distress, asset sales, and lender monitoring. Financial Management, 25(3), pp. 57–66. doi:10.2307/3665808.
  41. LASFER, M.A. (1995). Ex‐Day Behavior: Tax or Short‐Term Trading Effects. The Journal of Finance, 50(3), pp. 875–897. doi:10.1111/j.1540-6261.1995.tb04040.x.

    [publisher’s website]

  42. Lasfer, M. (1995). Ex-Day Behavior: Tax or Short-Term Trading Effects. Journal of Finance, 50, pp. 875–897.
  43. LASFER, M.A. (1995). EX-DAY BEHAVIOR - TAX OR SHORT-TERM TRADING EFFECTS. JOURNAL OF FINANCE, 50(3), pp. 991–991.
  44. Lasfer, M.A. (1995). Agency costs, taxes and debt: The UK evidence. European Financial Management, 1(3), pp. 265–285.

Reports (6)

  1. Lasfer, M. (2003). Creating Shareholder Value: The Case of Leasing Property..
  2. Lasfer, M.A. (2002). Property Value of Unquoted Companies..
  3. Lasfer, M.A. (2001). The Value Of Property In The UK And Its Impact On Shareholder Wealth..
  4. Lasfer, M.A. (1999). Debt Structure, Agency Costs and Firm's Size..
  5. Lasfer, M.A. and Taffler, R.J. (1997). Do Dividend Payouts Depress Firms' R&D Expenditures?.
  6. Lasfer, M.A. and Levis, M. (1997). The Role of Leasing in Small and Medium Size Firms: Private Finance Initiative and Inward Investment Projects..

Working paper

  1. Lasfer, M. and Ye, X. Executive Equity-Based Compensation and Tournament Incentives. Elsevier BV

Education

Course Directorship

- 2006 - 2008, MSc Finance, Director
- 1996 - 2001, hD Programme, Director

Professional activities

Editorial activity (11)

  1. Journal of Corporate Finance, Referee, 2009 – present.
  2. Journal of Business Finance and Accounting, Referee, 2007 – present.
  3. International Journal of Accounting and Finance (IJAF), Associate Editor, 2006 – present.
  4. La Revue du Financier, Associate Editor, 2006 – present.
  5. Revue des Sciences Commerciales et de Gestion, Associate Editor, 2006 – present.
  6. Journal of Political Economy, Referee, 2005 – present.
  7. Emerging Markets Letters, Associate Editor, 2004 – present.
  8. Journal of Business Finance and Accounting, Associate Editor, 2003 – present.
  9. Corporate Governance International Review, Referee, 2000 – present.
  10. Multinational Finance Journal, Associate Editor, 2000 – present.
  11. Journal of Banking and Finance, Referee, 1994 – present.

Events/conferences (89)

  1. French Finance Meeting. (Conference) Nice, France (2015). Chair and Organising Committee.
  2. European Finance Association. (Conference) (2014). Chair and Organising Committee.
  3. French Financial Management Meeting. (Conference) (2014). Chair and Organising Committee.
  4. European Finance Association. (Conference) Cambridge (2013). Chair and Organising Committee.
  5. European Financial Management Association. (Conference) Barcelona (2013). Chair.
  6. European Financial Management. (Conference) Reading, UK (2013).
    Paper: Why do PE and VC firms hold shares after IPO
    Author: Lasfer M
    Co-authors: Natalia Matanova
  7. Financial Management Association. (Conference) Chicago, USA (2012).
    Paper: Why do companies deliste from AIM?
    Author: Lasfer M
    Co-authors: Eilnaz Kashefi Poor
  8. European Financial Management. (Conference) Barcelona, Spain (2012).
    Paper: Why do companies deliste from AIM?
    Author: Lasfer M
    Co-authors: Eilnaz Kashefi Poor
  9. Multinational Financial Management. (Conference) Greece (2011).
    Paper: Taxes, governance and dividends
    Author: Lasfer M
    Co-authors: M Alzahrani
  10. International Conference on Banking and Finance Perspectives, Eastern Mediterranean University in Cyprus. (Conference) Cyprus (2011). Invited speaker.
    Paper: Taxes, Governance and Dividends
    Author: Lasfer M
    Co-authors: M. Alzahrani
  11. Financial Management Association. (Conference) New Orleans USA (2011).
    Paper: Size and Leverage
    Author: Lasfer M
    Co-authors: Eilnaz Kashefi Poor
  12. European Financial Management. (Conference) Italy (2011).
    Paper: Size and leverage
    Author: Lasfer M
    Co-authors: Eilnaz Kashefi Poor
  13. Manchester Business School seminar. (Seminar) Manchester UK (2010).
    Paper: IPO Long-run performance and insider trading
    Author: Lasfer M
    Co-authors: H Hoque
  14. London School of Economics workshop. (Seminar) LSE UK (2010).
    Paper: Taxes governance and dividends
    Author: Lasfer M
    Co-authors: M Alzahrani
  15. Exeter Business School seminar. (Seminar) Exeter UK (2010). Invited speaker.
    Paper: Insider trading during lockup periods
    Author: Lasfer M
    Co-authors: H Hoque
  16. Essex Business School seminar. (Seminar) Colchester UK (2010). Invited speaker.
    Paper: Insider trading during lockup periods
    Author: Lasfer M
    Co-authors: H Hoque
  17. Conference on dividend policy. (Conference) Wuppertal University Germany (2010). Invited speaker.
    Paper: Taxes governance and dividends
    Author: Lasfer M
    Co-authors: M Alzahrani
  18. Nottingham Business School seminar. (Seminar) Nottingham UK (2010). Invited speaker.
    Paper: Insider trading during lockup periods
    Author: Lasfer M
    Co-authors: H Hoque
  19. Multinational Finance Association. (Conference) Greece (2009). Invited speaker.
    Paper: Insider Trading and Lockup Arrangements
    Author: Lasfer M
    Co-authors: Hafiz Hoque
  20. Multinational Finance Association. (Conference) Greece (2009). Invited speaker.
    Paper: Share Buyback in Europe
    Author: Lasfer M
    Co-authors: Dimitrios Andriosopoulos
  21. JBFA Capital Market Conference. (Conference) Venice, Italy (2009). Invited speaker.
    Paper: The strategic trading of insiders
    Author: Lasfer M
    Co-authors: Adriana Koczak and Piotr Koczak
  22. European Financial Management. (Conference) (2009).
    Paper: Insider Trading before IPO Lockup Expiry Dates
    Author: Lasfer M
    Co-authors: Hoque, Hafiz
  23. European Finance Association. (Conference) Bergen, Norway (2009). Invited speaker.
    Paper: Insider trading and lock up arrangements
    Author: Lasfer M
    Co-authors: Hafiz Hoque
  24. European Accounting Association. (Conference) (2009).
    Paper: Foreign Shareholder Activism and Insider Trading Before Material News Announcements
    Author: Lasfer M
    Co-authors: Korczak, A
  25. Financial Management Association. (Conference) Dallas, US (2008). Session/Day Chair.
  26. Financial Management Europe. (Conference) Vienna (2008). Invited speaker.
    Paper: Scrip dividends in Inflationary environment
    Author: Lasfer Meziane
    Co-authors: Cahit
  27. European Financial Management Association meeting. (Conference) Athens (2008). Invited speaker.
    Paper: Taxes and dividends
    Author: Lasfer Meziane
    Co-authors: Mohammed AlZahrani
  28. Corporate Bankruptcy. (Conference) Ghent Belgium (2008).
    Paper: Corporate financial distress in the UK
    Author: Lasfer M
    Co-authors: Laxmi Rymer
  29. Asian-Pacific Finance Association. (Conference) Tokyo (2008). Invited speaker.
    Paper: Taxes and dividends
    Author: Lasfer Meziane
    Co-authors: Mohammed AlZahrani
  30. Various universities: Cass, MBS, Reading, Paris Dauphine, University of Amiens. (Seminar) Various: Taxes and dividends, Non-executive directors pay, Meetings (2008). Invited speaker.
    Paper: Various: Taxes and dividends, Non-executive directors pay, Meetings
    Author: Lasfer M
  31. Western Finance Association. (Conference) Hawaii (2008). Invited speaker.
    Paper: Taxes and dividends
    Author: Lasfer Meziane
    Co-authors: Hawaii
  32. European Finance Association. (Conference) (2007). Chair and Organising Committee.
  33. European Finance Association. (Conference) Ljubiana (2007). Session/Day Chair.
  34. Various: Cranfield, MBS, Aston ... (Seminar) Cranfiled, Manchester, Birmingham (2007). Invited speaker.
    Paper: Meetings paper, Non-executive pay, insider trading
    Author: Lasfer M
  35. Barclays Global Investors BGI. (Workshop) London (2007). Invited speaker.
    Paper: Trading strategies around dividends and repurchases
    Author: Lasfer M
  36. European Financial Management. (Conference) Vienna (2007). Invited speaker.
    Paper: Insider trading and cross-listing
    Author: Lasfer Meziane
    Co-authors: Adriana
  37. European Financial Management. (Conference) Vienna (2007). Invited speaker.
    Paper: Insider trading and cross-listing
    Author: Lasfer Meziane
    Co-authors: Adriana
  38. European Financial Management. (Conference) Vienna (2007). Invited speaker.
    Paper: Insider trading around news annoucements
    Author: Lasfer Meziane
    Co-authors: Adriana
  39. JBF 30th Anniversary Conference. Beijing, China (2006).
    Paper: Market Behaviour of Foreign versus Domestic Investors Following a Period of Stressful Circumstances
    Co-authors: Sharon Lin
  40. French Finance Accociation, Plenary session. Poitier, France (2006). Invited speaker.
    Paper: Does Cross-Listing Mitigate Insider Trading?
  41. Financial Management International. Salt Lake City, USA (2006).
    Paper: Market Behaviour of Foreign versus Domestic Investors Following a Period of Stressful Circumstances
  42. Financial Management Europe. Stockholm, Sweden (2006).
    Paper: Does Cross-Listing Mitigate Insider Trading?
    Co-authors: Adiana Korczak
  43. European Financial Management Association meeting. Madrid (2006).
    Paper: Market Behaviour of Foreign versus Domestic Investors Following a Period of Stressful Circumstances
  44. European Financial Management Association meeting. Madrid, Spain (2006).
    Paper: Does Cross-Listing Mitigate Insider Trading?
  45. European Financial Management. Milan (2005).
    Paper: Why do Companies Include Warrants in Seasoned Equity Offerings: The case of French Unit Offerings
    Co-authors: Jean-Francois Gajewski and Edith Ginglinger
  46. Multinational Finance Association. Istanbul, Turkey (2004).
    Paper: Why do companies lease their property?
  47. Multinational Finance Association. Istanbul (2004).
    Paper: The Market Valuation of Bonus Issues in a Closely Held Market
    Co-authors: Cahit Adaoglu
  48. Financial Management Association. New Orleans, USA (2004).
    Paper: The market valuation of dividends in Europe
    Co-authors: M. Zenonos
  49. Financial Management Association. New Orleans, USA (2004).
    Paper: When Do Insiders Trade?
  50. European Financial Management Association Meeting. Helsinki (2003).
    Paper: Ex-day price behaviour across European counties
    Co-authors: Maria Zenonos
  51. European Financial Management Association. Helsinki (2003).
    Paper: Why do insiders trade: An empirical investigation
  52. European Finance Association. Glasgow (2003).
    Paper: Ex-day price behaviour across European counties
    Co-authors: Maria Zenonos
  53. Multinational Finance Conference. Cyprus (2002).
    Paper: Units Openings in France
    Co-authors: Gingingler, E.
  54. Multinational Finance Association. Cyprus (2002).
    Paper: Determinants of Board Structure
  55. Financial Management International. San Antonio, USA (2002).
    Paper: Board Structure and Agency COsts
  56. European Financial Management conference. London (2002).
    Paper: Determinants of Board Structure
  57. Financial Management Europe. Paris (2001).
    Paper: Share Repurchases
  58. Financial Management Association International. Toronto, Canada (2001).
    Paper: Institutional Trades
    Co-authors: Ersoy-Bozcuk, A.
  59. European Financial Management. Lugano (2001).
    Co-authors: Ersoy-Bozcuk, A.
  60. Financial Management Association International. Seattle (2000).
    Paper: Shareholder Groups and Corporate Monitoring: The UK Evidence
    Co-authors: Ersoy-Bozcuk, A.
  61. Financial Management Association International. Seattle (2000).
    Paper: Managerial Ownership, Board Structure and Firm Value: The UK Evidence
    Co-authors: Faccio, M.
  62. European Financial Management Association Meeting. Athens (2000).
    Paper: Share Repurchases in Europe: Why is the Market Under-Reaching in the UK?
  63. American Finance Association meeting. Boston (2000).
    Paper: Dividend Payments and Firm's Investments in Growth Opportunities
  64. French Finance Association (1/2000-12/2008). (Conference) Paris (2000). Organising Committee.
  65. Financial Management International. Orlando, USA (1999).
    Paper: The Market Reaction to Share Repurchases Announcements: The UK Evidence
  66. Financial Management International. Orlando, USA (1999).
    Paper: Share Repurchases in Europe: Why is the Market Under-Reacting in the UK?
  67. European Financial Management. Paris (1999).
    Paper: Ownership Structure and Board Composition
    Co-authors: Faccio, M.
  68. European Financial Management. Paris (1999).
    Paper: Dividend Payments and Firm's Investment in Growth Opportunities
  69. National Association of Pension Funds Annual Conference. Eastbourne (1998).
    Paper: Do Dividend Payouts Depress R&D Expenditures?
  70. Financial Management. Chicago, USA (1998).
    Paper: Dividend Payments and Firms' Investments in Growth Opportunities
  71. European Financial Management. Lisbon (1998).
    Paper: Do Pension Funds Monitor Companies in Which They Hold Large Shares?
  72. European Financial Management. Lisbon (1998).
    Paper: Large Stock Price Changes and the Overreaction Hypothesis: An International Comparison
  73. University of Hull (1997).
    Paper: Determinants of Leasing of Small and Large Firms
  74. London Business School (1997).
    Paper: On the Motivation for Paying Scrip Dividends
  75. Brunel University (1997).
    Paper: Do Pension Funds Monitor Companies in Which They Hold Large Shares
  76. European Financial Management. Istanbul (1997).
    Paper: Determinants of Leasing of Small and Large Firms
  77. European Financial Management. Istanbul (1997).
    Paper: Debt Structure, Agency Costs and Firm Size
  78. University of Neufchatel, Switzerland (1996).
    Paper: On the Motivation for Paying Scrip Dividends
  79. University of Rutgers, USA (1996).
    Paper: On the Motivation for Paying Scrip Dividends
  80. French Finance Association. Geneva (1996).
    Paper: Ex-day Returns and Post Announcement
  81. Financial Management Association. New Orleans (1996).
    Paper: On The Motivation for Paying Scrip Dividends
  82. European Financial Management Association. Innsbruck (1996).
    Paper: Debt Financing of Small Firms
  83. European Finance Association. Oslo (1996).
    Paper: On The Motivation for Paying Scrip Dividends
  84. Lancaster University (1995).
    Paper: Ex-day Price Behaviour: Tax or Short-Term Trading Effects
  85. University College Dublin. (1995).
    Paper: Debt, Taxes and Agency Costs: The UK evidence
  86. European Financial Management. London (1995).
    Paper: Scrip Dividends: The Management's View
  87. Asia-Pacific Finance Association. Hong-Kong (1995).
    Paper: Debt, Taxes and Agency Costs: the UK Evidence
  88. American Finance Association. Washington DC (1995).
    Paper: Ex-day Price Behaviour: Tax or Short-Term Trading Effects
  89. European Financial Management (1/1994-12/2008). (Conference) Various places every year (1994). Organising Committee.

Keynote lectures/speeches (2)

  1. The IPO Market. Nice, France (2015). 6th International Research Meeting in Business and Management (IRMBAM-2015)
  2. IPO underpricing. Cyprus (2015).

Media appearances (35)

  1. (2015) Financial Times (newspaper).
  2. (2015) https://next.ft.com/content/cf3d3f56-2637-11e5-9c4e-a775d2b173ca (newspaper).
  3. (2015) https://next.ft.com/content/865fa1f6-23fe-11e5-9c4e-a775d2b173ca (newspaper).
  4. Can you beat the market without an information advantage? (2014) CityWire (website).
  5. WSJ: V Evrop_ o_’v‡ trh IPO, je to ale ãrecykla_n’Ò o_iven’. (2014) http://investice.finance.cz/ (website).
  6. The Wall Street Journal: IPO do odzysku got—wki. (2014) http://www.parkiet.com (website).
  7. Global markets surge after banks cut rates. (2013) Daily Mail (newspaper).
  8. The Markets. (2013) The Independant (unknown).
  9. Trio of newcomers steal the limelight. (2013) The Independant (unknown).
  10. Insider Trading. (2013) Reuters Insider (website).
  11. (2012) Sky News.
  12. Broken report keen Direct Line interest, some investors wary. (2012) www.sharenet.co.za (website).
  13. Facebook IPO - a tale of caution. (2012) www.bi-me.com (website).
  14. Teile und Hersche. (2012) www.tagesspielgel.de (website).
  15. Does all insider trading break the rules. (2012) The Times (newspaper).
  16. The good servant. (2012) www.director.co.uk (magazine).
  17. Capital Club to host debate on legalisation of insider trading. (2011) www.ameinfo.com (website).
  18. (2011) www.ameinfo.com (website).
  19. Urgrading Britain? (2011) www.management thinking.eiu.com (website).
  20. Insider trading benefits financial markets and shareholders. (2011) www.gulftoday.com (website).
  21. Capital Club Dubai and Cass Business School host debate about insider trading practices. (2011) www.ameinfo.com (website).
  22. Capital Club Dubai to host debate on legislation of Insider Trading. (2011) www.uaetoday.com (website).
  23. Cayman Islands Directors Sitting on Multiple Boards. (2011) www.prlog.org (website).
  24. (2011) www.fundstrategy.co.uk (website).
  25. (2010) Reuters TV (television).
  26. MBAs cannot always apply the concepts they are taught. (2010) Financial Times (newspaper).
  27. Private schools take on the public providers. (2010) www.independent.co.uk (website).
  28. (2009) Guardian (newspaper).
  29. Darling speech: Omelette and Eggs. (2008) www.skynews.com (website).
  30. Corporate finds hold up firms' bottom lines. (2008) www.timesonline.co.uk (website).
  31. Corporate funds hold up firms' bottom lines. (2008) Times (newspaper).
  32. Corporate funds hold up firms' bottom lines. (2008) Times (newspaper).
  33. Credits give small businesses a break. (2006) Times (newspaper).
  34. Cass knowledge (website).
  35. .

Online articles (2)

  1. Business school: Theranos, leadership at McAfee, Unilever’s HQ. (2018). Financial Times I discussed "The backlash against shareholder value" issue relating to corporate governance and the agency conflicts between managers and shareholders.
  2. Business school: Hostage crisis management course. (2017). Financial Times https://www.ft.com/isa?q=meziane+lasfer

Television programme

  1. Counting the Cost - Algeria: The curse of falling oil prices. Aljazeera https://www.youtube.com/watch?v=MiaehaDHkmk&t=79s

Other

  1. Unrulyversity: I need money for my startup: now what?, http://cityunrulyversity.com (Nov 2016 – present).