Reducing greenhouse gas emissions in the UK

Fahad Alhumaidah's research has been featured in the Central Banking Publications’ (CBP) annual book titledRBS Reserve Management Trends 2013. Published in spring each year, the book presents survey results of around 60 participating central banks, responsible for more than $6.7 trillion in reserve assets, on their views of the global financial markets and the key issues facing the international monetary system. Aside from the survey results, the book also features other chapters relevant to the subject of central bank reserve management contributed by various authors.

We are very proud of four of our ICMA Centre undergraduates who were honoured at this annual celebration hosted by the Chancellor, Sir John Madejski.

"Institutional Cross-ownership and Corporate Strategy: The Case of Mergers and Acquisitions" by Professor Chris Brooks, Dr Yeqin Zeng, and PhD Zhong Chen has been awarded Best Corporate Finance Paper at the 2016 Southern Finance Association annual conference. About the paper: The paper provides new evidence on the important role of institutional investors in affecting corporate strategy. We study institutional investors who hold stocks of both acquirers and targets before the announcements of mergers and acquisitions (M&As). The existence of these institutional cross-owners not only increases the probability of two firms merging, but also affects the outcomes of M&As. Institutional cross-ownership reduces target firm prices, lowers completion probabilities of deals with negative acquirer announcement returns, and increases the use of stock payment in M&A transactions. Furthermore, deals with high institutional cross-ownership have lower transaction costs and disclose more transparent financial statement information.