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Ephraim Clark

Middlesex University Business School

Professor

The Burroughs

London, NW4 4BT

United Kingdom

  • Middlesex University Business School

SCHOLARLY PAPERS

41

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Rank 5,182

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Top 5,182

in Total Papers Downloads

7,188

CITATIONS
Rank 11,268

SSRN RANKINGS

Top 11,268

in Total Papers Citations

36

Scholarly Papers (41)

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1.

Emerging Markets: Stock Market Investing with Political Risk

EFMA 2001 Lugano Meetings, Middlesex University Business School Discussion Paper No. 6, Cass Business School Research Paper
Number of pages: 21 Posted: 14 May 2001
Ephraim Clark and Radu Tunaru
Middlesex University Business School and University of Kent, Canterbury - Kent Business School
Downloads 1,301 (11,354)
Citation 2

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Portfolio investment, political risk, insurance policy, geometric Brownian motion, Poisson arrival process.

2.

Country Financial Risk and Stock Market Performance: The Case of Latin America

EFMA 2001 Lugano Meetings
Number of pages: 31 Posted: 29 Mar 2001
Ephraim Clark and Konstantinos Kassimatis
Middlesex University Business School and Athens University of Economics and Business - Department of Business Administration
Downloads 705 (28,466)
Citation 2

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3.

Foreign Currency Derivatives versus Foreign Currency Debt and the Hedging Premium

Downloads 673 ( 33,094)
Citation 3

Foreign Currency Derivatives versus Foreign Currency Debt and the Hedging Premium

European Financial Management Journal, Forthcoming
Number of pages: 47 Posted: 17 Oct 2007 Last Revised: 13 May 2016
Ephraim Clark and Amrit Judge
Middlesex University Business School and Middlesex University - Business School
Downloads 670 (32,775)
Citation 3

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International Finance, Risk Management, Foreign Currency Hedging, Foreign Currency Derivatives, Foreign Currency Debt, Foreign Currency Swaps.

Foreign Currency Derivatives versus Foreign Currency Debt and the Hedging Premium

European Financial Management, Vol. 15, Issue 3, pp. 606-642, June 2009
Number of pages: 37 Posted: 27 May 2009
Ephraim Clark and Amrit Judge
Middlesex University Business School and Middlesex University - Business School
Downloads 3 (587,363)
Citation 3
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4.

Risk Management Disclosure Practices of UK Non-Financial Firms after Frs 13

Downloads 655 ( 34,376)

Risk Management Disclosure Practices of UK Non-Financial Firms after Frs 13

EFMA 2002 London Meetings
Number of pages: 30 Posted: 19 Jun 2002
Amrit Judge and Ephraim Clark
Middlesex University - Business School and Middlesex University Business School
Downloads 655 (33,857)

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Risk Management Disclosure Practices of UK Non-Financial Firms after Frs 13

Finance Letters, Vol. 1, No. 2, 2003
Posted: 17 Jul 2003
Ephraim Clark and Amrit Judge
Middlesex University Business School and Middlesex University - Business School

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5.

Motives for Corporate Hedging: Evidence from the UK

Research in Financial Economics, Vol. 1, No. 1, pp. 57-78, 2005
Number of pages: 25 Posted: 14 May 2006
Ephraim Clark and Amrit Judge
Middlesex University Business School and Middlesex University - Business School
Downloads 566 (36,901)
Citation 3

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Corporate hedging, derivatives, financial distress costs.

6.

The Determinants and Value Effects of Corporate Hedging: An Empirical Study of Hong Kong and Chinese Firms

Number of pages: 41 Posted: 11 Sep 2006
Ephraim Clark, Amrit Judge and Wing Sang Ngai
Middlesex University Business School, Middlesex University - Business School and Middlesex University
Downloads 557 (35,451)
Citation 2

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Corporate hedging, Foreign currency hedging, Derivatives, Financial distress, Debt capacity, Hong Kong, China

7.

Hedging Mean-Reverting Commodities

Number of pages: 11 Posted: 06 Nov 2008
Udo Broll, Ephraim Clark and Elmar Lukas
Dresden University of Technology - Faculty of Economics and Business Management, Middlesex University Business School and Otto-von-Guericke University Magdeburg, Faculty of Economics and Management - Chair in Financial Management and Innovation Finance
Downloads 372 (64,075)
Citation 2

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Commodity risk, investment under uncertainty, hedging, mean-reverting

8.

Constructing and Testing the 'World Market Portfolio' for Dollar Based Investors

EFA 2006 Zurich Meetings
Number of pages: 38 Posted: 15 May 2006 Last Revised: 03 Jun 2016
Ephraim Clark and Konstantinos Kassimatis
Middlesex University Business School and Athens University of Economics and Business - Department of Business Administration
Downloads 369 (55,093)

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World market portfolio, portfolio selection

9.

The Determinants of Foreign Currency Hedging: Does Foreign Currency Debt Induce a Bias?

Downloads 283 ( 95,359)
Citation 11

The Determinants of Foreign Currency Hedging: Does Foreign Currency Debt Induce a Bias?

European Financial Management Journal, Forthcoming
Number of pages: 37 Posted: 17 May 2006
Amrit Judge and Ephraim Clark
Middlesex University - Business School and Middlesex University Business School
Downloads 282 (95,217)
Citation 11

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Corporate hedging, foreign currency hedging, derivatives, financial distress, foreign currency debt

The Determinants of Foreign Currency Hedging: Does Foreign Currency Debt Induce a Bias?

European Financial Management, Vol. 14, Issue 3, pp. 445-469, June 2008
Number of pages: 25 Posted: 13 May 2008
Ephraim Clark and Amrit Judge
Middlesex University Business School and Middlesex University - Business School
Downloads 1 (607,337)
Citation 9
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10.

Sovereign Debt and the Cost of Migration: India 1990-1992

EFMA 2003 Helsinki Meetings
Number of pages: 55 Posted: 21 May 2003
Ephraim Clark and Geeta Lakshmi
Middlesex University Business School and University of Nottingham
Downloads 151 (167,341)
Citation 1

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Credit risk, market risk, term structure of interest rates, duration, ratings migration

11.

The Effect of CEO Risk Appetite on Firm Volatility: An Empirical Analysis of Financial Firms

International Journal of the Economics of Business, Forthcoming
Number of pages: 33 Posted: 12 Feb 2011 Last Revised: 10 Mar 2011
Yacine Belghitar and Ephraim Clark
Middlesex University - Business School and Middlesex University Business School
Downloads 141 (144,873)
Citation 1

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Executive Compensation, Stock Options, Risk Appetite, Firm Risk, Financial Institutions

12.

War and Emerging Market Default Risk: The Case of India and the Iraqi Invasion of Kuwait

International Journal of Business, Vol. 8, No. 4, 2003
Number of pages: 14 Posted: 06 Oct 2003
Ephraim Clark and Geeta Lakshmi
Middlesex University Business School and University of Nottingham
Downloads 109 (214,098)

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Term structure of interest rates, Duration, Spline

13.

Portfolio Rules for Conditional Stochastic Dominance: Applications to the Elliptical Distributions

Number of pages: 18 Posted: 08 May 2006
Ephraim Clark and Octave Jokung
Middlesex University Business School and EDHEC Business School
Downloads 94 (233,223)

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portfolio selection, elliptical distribution, stochastic

14.

Making Inefficient Market Indices Efficient

Number of pages: 24 Posted: 09 Feb 2009
Ephraim Clark, Octave Jokung and Konstantinos Kassimatis
Middlesex University Business School, EDHEC Business School and Athens University of Economics and Business - Department of Business Administration
Downloads 91 (241,263)
Citation 1

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Stochastic Dominance, Portfolio Efficiency

15.

The Determinants of Sovereign Eurobond Spreads: India 1990-1992

Number of pages: 41 Posted: 04 May 2006
Ephraim Clark and Geeta Lakshmi
Middlesex University Business School and University of Lincoln (UK) - Lincoln Business School
Downloads 71 (282,639)

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Sovereign credit risk, Asymmetric information, Risk free term structure of interest rates, Credit ratings, Eurobond market structure

16.

Pricing the Cost of Expropriation Risk

Review of International Economics, Vol. 11, pp. 412-422, May 2003
Number of pages: 11 Posted: 15 Sep 2003
Ephraim Clark
Middlesex University Business School
Downloads 34 (401,653)
Citation 5
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17.

International Equity Flows, Dominant Distributions and Diversification

Number of pages: 32 Posted: 07 Apr 2010
Ephraim Clark and Konstantinos Kassimatis
Middlesex University Business School and Athens University of Economics and Business - Department of Business Administration
Downloads 31 (405,527)

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equity flows, diversification, stochastic dominance

18.

Investor Valuation of the Abandonment Option: Empirical Evidence from UK Divestitures 1985-1991

Multinational Finance Journal, Vol. 14, No. 3/4, p. 291-317, 2010
Number of pages: 27 Posted: 26 Jun 2015
Ephraim Clark, Magid Gadad and Patrick Rousseau
Middlesex University Business School, The Academy of Graduate Studies and Institut d'Administration des Entreprises d'Aix-en-Provence (IAE Aix)
Downloads 8 (525,075)
Citation 1
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real options; abandonment; divestiture; premature abandonment; abnormal returns

19.

Emerging Markets: Investing with Political Risk

Multinational Finance Journal, Vol. 5, No. 3, p. 155-173, 2001
Number of pages: 19 Posted: 08 Jul 2015
Ephraim Clark and Radu Tunaru
Middlesex University Business School and University of Kent, Canterbury - Kent Business School
Downloads 6 (519,906)
Citation 2
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geometric Brownian motion; insurance policy; Poisson arrival process; portfolio investment; political risk

20.

Asymmetric Foreign Currency Exposures and Derivatives Use: Evidence from France

Journal of International Financial Management & Accounting, Vol. 22, No. 1, pp. 27-45, 2010
Number of pages: 19 Posted: 19 Dec 2010
Ephraim Clark and Salma Mefteh-Wali
Middlesex University Business School and ESSCA School of Management
Downloads 2 (567,814)
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21.

Theories of Risk: Testing Investor Behaviour on the Taiwan Stock and Stock Index Futures Markets

Number of pages: 29 Posted: 28 Nov 2017 Last Revised: 04 Dec 2017
Ephraim Clark, Zhuo Qiao and Wing-Keung Wong
Middlesex University Business School, University of Macau and Asia University, Department of Finance
Downloads 0 (545,153)

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stochastic dominance; risk aversion; risk seeking; prospect theory; behavioral economics; stock index futures

22.

Political Connections and Corporate Financial Decision Making

Number of pages: 44 Posted: 12 Aug 2016
Yacine Belghitar, Ephraim Clark and Abubaker Saeed
Middlesex University - Business School, Middlesex University Business School and COMSATS Institute of Information Technology (CIIT), Islamabad
Downloads 0 (224,076)

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political connection; Earnings management; Financial policies; Emerging market

23.

Index Tracking with Utility Enhanced Weighting

Number of pages: 32 Posted: 22 May 2016 Last Revised: 16 Oct 2016
Ephraim Clark, Nitin Deshmukh, Barkan Guran and Konstantinos Kassimatis
Middlesex University Business School, Middlesex University - Business School, Istanbul Technical University - Department of Management Engineering and Athens University of Economics and Business - Department of Business Administration
Downloads 0 (334,886)

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Index Tracking, Cumulative Area Ratio, Analytic Hierarchy Process, Utility

24.

A Measure of Total Firm Performance: New Insights for the Corporate Objective

Number of pages: 34 Posted: 10 May 2016 Last Revised: 02 Sep 2016
Yacine Belghitar, Ephraim Clark and Konstantinos Kassimatis
Middlesex University - Business School, Middlesex University Business School and Athens University of Economics and Business - Department of Business Administration
Downloads 0 (337,858)

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Corporate Objectif; Utility Manimization; Firm Performance; Managerial Ownership; Agency Theory

25.

The Effect of Floating Exchange Rates on SME Performance

Number of pages: 31 Posted: 27 Mar 2016 Last Revised: 10 Aug 2016
Yacine Belghitar, Ephraim Clark and Salma Mefteh-Wali
Middlesex University - Business School, Middlesex University Business School and ESSCA School of Management
Downloads 0 (100,671)

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SME, share price performance, asymmetric exchange rate exposure, good/bad exposures

26.

Theories of Risk: Testing Investor Behavior on the Taiwan Stock and Stock Index Futures Markets

Economic Inquiry, Vol. 54, Issue 2, pp. 907-924, 2016
Number of pages: 18 Posted: 26 Feb 2016
Ephraim Clark, Zhuo Qiao and Wing-Keung Wong
Middlesex University Business School, University of Macau and Asia University, Department of Finance
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27.

Investors’ Preference Towards Risk: Evidence from the Taiwan Stock and Stock Index Futures Markets

Accounting & Finance, Vol. 54, Issue 1, pp. 251-274, 2014
Number of pages: 24 Posted: 04 Mar 2014
Zhuo Qiao, Ephraim Clark and Wing‐Keung Wong
University of Macau, Middlesex University Business School and Hong Kong Baptist University (HKBU)
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Stochastic dominance, Stock index futures, Risk averter, Risk seeker, Utility maximization

28.

The Value Effects of Foreign Currency and Interest Rate Hedging: The UK Evidence

International Journal of Business, Vol. 13, No. 1, 2008
Posted: 10 Jun 2008
Yacine Belghitar, Ephraim Clark and Amrit Judge
Middlesex University - Business School, Middlesex University Business School and Middlesex University - Business School

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Firm value; Foreign currency hedging; Interest rate hedging; Derivatives; Debt capacity; Leverage; Financial distress.

29.

Water Management in France: Delegation and Irreversibility

Journal of Applied Economics, Vol. 3, No. 2, pp. 325-352, November 2000
Posted: 20 Jun 2004
Ephraim Clark and Gerard Mondello
Middlesex University Business School and CNRS, GREDEG CREDECO UMR 6227

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Water management, delegation, insurance mechanisms, technological changes, real options

30.

Sovereign Debt Discounts and the Unwillingness to Pay

Finance, Vol. 20, No. 2, 1999
Posted: 19 Mar 2001
Ephraim Clark and Amel Zenaidi
Middlesex University Business School and Institut des Hautes Etudes Commerciales

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31.

Strategic Parameters for Capital Budgeting When Abandonment Value is Stochastic

Applied Financial Economics, Forthcoming
Posted: 19 Mar 2001
Ephraim Clark and Patrick Rousseau
Middlesex University Business School and Institut d'Administration des Entreprises d'Aix-en-Provence (IAE Aix)

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32.

Valuing Political Risk

Journal Of International Money And Finance, Vol. 16, No. 3, 1997
Posted: 23 May 2000
Ephraim Clark
Middlesex University Business School

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33.

A Note on Asset Proportions, Stochastic Dominance and the 50% Rule

Management Science, December 1999
Posted: 15 May 2000
Ephraim Clark and Octave Jokung
Middlesex University Business School and EDHEC Business School

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34.

Resource Management and the Mayor's Guarantee in French Water Allocation

Environmental and Resource Economics, Vol. 15, Issue 2, February 2000
Posted: 07 Mar 2000
Ephraim Clark and Gerard Mondello
Middlesex University Business School and CNRS, GREDEG CREDECO UMR 6227

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35.

Intervention in the Economy: Tradeoffs between Output and Volatility

Posted: 25 Jun 1998
Ephraim Clark and Octave Jokung
Middlesex University Business School and EDHEC Business School

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36.

Political Risk in Hong Kong and Taiwan: Pricing the China Factor

Journal of Economic Integration
Posted: 01 Jun 1998
Ephraim Clark
Middlesex University Business School

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37.

Capital Budgeting, Political Risk, and Prudence

International Journal of Finance, Vol.10, No. 1, 1998
Posted: 29 May 1998
Ephraim Clark and Octave Jokung
Middlesex University Business School and EDHEC Business School

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38.

Agency Conflict and the Signalling Snafu in the Mexican Peso Crisis of 1994

International Journal of Public Administration, vol. 23, n° 5-8, 2000,
Number of pages: 29 Posted: 13 May 1998 Last Revised: 12 May 2016
Ephraim Clark
Middlesex University Business School
Downloads 0 (554,955)

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39.

Foreign Direct Investment: The Incentive to Expropriate and Expropriation Risk

Posted: 02 Apr 1998
Ephraim Clark
Middlesex University Business School

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40.

Risk Aversion, Wealth and International Capital Flows

Review of International Economics, January 1998
Posted: 26 Feb 1998
Ephraim Clark and Octave Jokung
Middlesex University Business School and EDHEC Business School

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41.

Pricing the Cost of Expropriation Risk

Review of International Economics, Forthcoming
Posted: 05 Apr 2001 Last Revised: 03 Sep 2013
Ephraim Clark
Middlesex University Business School

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