Professor Rasha Alsakka

Athro

r.alsakka@bangor.ac.uk

+44 1248 383571

Professor Rasha Alsakka

Rasha Alsakka is a Professor of Banking and Finance at Â鶹Íø Business School. Rasha was appointed at Â鶹Íø in January 2010. Previously she taught at Aberystwyth University. Rasha has a portfolio of high-quality research outputs and has developed an international reputation, with her work appearing in many internationally recognized journals such as Journal of Banking and Finance, European Economic Review, Journal of Financial Stability, Journal of International Money and Finance, Journal of Economic Behavior and Organization, British Accounting Review, and European Journal of Finance. Rasha is currently an Associate Editor at the European Journal of Finance.

Rasha has been involved in projects funded by the British Academy and Leverhulme Trust, Chartered Banker Institute and ESRC. Rasha is also a Fellow of the Chartered Management Institute (FCMI) since 2022, and a Fellow of the Higher Education Academy (FHEA). In July 2022, Rasha received the prestegious Â鶹Íø Teaching Fellowship.Ìý

Rasha is a member of the management board of the Institute of European Finance (IEF) at Â鶹Íø. Within the IEF, Rasha leads the Credit Risk research planning group, which has a reputation for high quality research in the UK, and includes several BBS members of staff, PhD students and external associate members.

ÌýRasha has also supervised several PhD students to completion and has acted as an external examiner at PhD, PGT and UG levels at many UK Universities. She has a wide teaching experience in the areas of Finance, Investment and Banking and has taught subjects linked with students’ employability and transferable skills, with a strong research-led teaching strategy.

Roles within Â鶹Íø Business School and Â鶹Íø (BU):Ìý

  • BBS Senior Tutor (Aug 2018 - Present)
  • Lead of the Credit Risk research planning group (May 2024-Present)
  • Deputy Safeguarding Co-ordinator (Oct 2024- Present).
  • Member of BU Learning Analytics Steering Group (Feb 2023- 2024)
  • Member of BU Student Led Mental Health & Wellbeing Strategy Steering Group (Sep 2022 - 2024)
  • Member of BU Hardship Fund Committee (Sep 2021- 2024)
  • Member of the Knowledge Group (responisble for driving innovative thinking at Â鶹Íø - Nov 2019 - Nov 2021)
  • BBS Disability Tutor (2012 - Nov 2020) and (July 2021 - Aug 2022)
  • BBS Ethics OfficerÌý(2014 - Oct 2018)
  • Member ofÌýCAHB (previously CBLESS) Ethics committee (2014 - 2018)
  • Personal tutor
  • Teaching Advisor and Mentor, PGCertHE
  • Supervision of PG & UG dissertations

Location:ÌýRoom 1.04, Hen Goleg

Telephone: 01248 38 3571

·¡³¾²¹¾±±ô:Ìýr.alsakka@bangor.ac.uk

  • BSc: Economics
  • Arall: Postgraduate Diploma in Accounting
  • MSc: Econ in Accounting and Finance
    Aberystwyth University,
  • PhD: Accounting and Finance
    Aberystwyth University,
  • Profesiynol: Postgraduate Certificate in Higher Education (PGCertHE)

Teaching

Undergraduate Teaching:

  • Investment and Portfolio ManagementÌý (ASB-3522 & ASB-2522)

Postgraduate Teaching:

  • Investment Strategy and Portfolio Management (ASB-ABJ-4125)

  • Capital Markets & Treasury Management (ASB-9040)

  • Core Competencies for PG Researchers (ASB-4931)

Doctoral workshop

  • Credit Ratings
  • Research Methods - Limited dependent variables
  • Research design and strategy: Ethics and Research

PhD Students Supervisor

  • Cem Soner (Oct 2021- Present)
  • Hong Ngoc Nguyen (Oct 2021 - Present)
  • Chiara Lo Re (Nov 2021 - Present)
  • Ahmed Dhaif (April 2021 - Present)
  • Phuc Lam Thy Nguyen (Completed in March 2021 - Minor corrections).
  • Andrea MartinÌý(Completed in April 2020 - Minor corrections).
  • Anh Quang NguyenÌý(Completed in Jan 2020 - Minor corrections).
  • Laurence JonesÌý(Completed in Jan 2019 – No corrections).
  • Irfan SahibzadaÌý(Completed in July 2016 - substantive amendments within 6 months).
  • Patrycja Karolina KlusakÌý(Completed in May 2016 - Minor corrections).
  • Vu TranÌý(Completed in Jan 2015 - Minor corrections).
  • Huong Thi VuÌý(Completed in Dec 2014 - No corrections).
  • Gwion WilliamsÌý(Completed in March 2013 - Minor corrections).

Research Interest: Credit risk and credit ratings, Political economy, ESG and sustainable finance, Fintech, European sovereign debt crisis, Credit and uncertainty.

My work has been presented in many international conferences, such as:

  • Keynote speaker at Â鶹Íø College China (BCC) 10th year anniversary- Banking & Finance Seminar -Sep 2024
  • Wolpertinger Annual Conference – 28-31Aug 2024 Palermo Italy.
  • The 12th International Conference of the Financial Engineering and Banking Society (FEBS), Greece, June 2023.
  • 6th Conference on Credit Analysis and Risk Management Basel Workshop on Credit Risk Sep 2019.Ìý
  • Wolpertinger Conference, Modena- Italy, August 2018.
  • BAFA – Corporate Finance and Asset Pricing Symposium, Manchester, UK, July 2018.
  • BAFA- Northern Area Group Conference, Â鶹Íø, 2017, 14-15 Sept.Ìý
  • INFINITI Conference on International Finance, Dublin – Ireland (2016)
  • XXIV InternationalRome Conference on Money, Banking and Finance. Rome - Italy (2015)
  • Wolpertinger Conference - Granada, Spain (2015)
  • European Financial Management Association - Reading (2013)
  • International Conference on the Global Financial Crisis - Southampton (2013)
  • Emerging Markets Group Conference- Cass Business School (2011)
  • Financial Sector Performance & Risk (Post-Crisis) Conference, Â鶹Íø Business School (2011)
  • British Accounting and Finance Association Annual Conference, Birmingham (2011), Cardiff (2010), Dundee (2009)
  • Wolpertinger conference, Â鶹Íø, UK (2010)
  • Emerging Markets Conference, Turkey (2010)
  • Newcastle Economics seminar, Newcastle University, UK (2010)

Research interests include:

Credit risk and credit ratings, Political economy, ESG and sustainable finance, Fintech, SMEs lending, Credit and uncertainty.

Credit rating agencies and political economy

The US sub-prime crisis followed by the European debt crisis as well asÌýcovid 19 pandemic brought mounting criticism of the credit rating agencies (CRAs) for their role amid deteriorating economic conditions. Several regulatory reforms to monitor CRAs have been approved in Europe and the US, yetÌýlittle is known about their effectivenessÌýin improving the quality of ratings in the corporate rating sector. Rating quality is of utmost importance as ratings are strongly embedded into regulations and affect the welfare of both borrowers and investors. Credit ratings are a major concern for corporate managers; they affect a firm’s access to the bond market, and impact employee and customer relationships as well as business operations. Negative rating actions can trigger events such as bond covenant violations, increases in bond coupons or loan interest rates, and forced bond repurchases.

Many countries in Europe and the USA have experienced degrees of political turmoil following the recent financial crises and covid 19 pandemic. Therefore, the voting preferences in these countries have moved toward more extremist and populist parties, and caused shifts in the ideology and policies of several countries. These have enormous negative influence on the level and cost of public and private debt, credit risk, swings in capital flows, currency valuation and economic growth.

This PhD research project aims to fill a clear void in the literature by investigating various aspects of the link between credit risk and political economy in light of the current developments during the global financial crisis and post-crisis periods. The project aims to investigate the effects of political impairments upon financial markets and real economic activity. It will explore the consequences of increased political and sovereign risk for firms’ ratings, cost of capital, investment, and financing decisions. The project also aims to investigate whether the recent regulatory reforms of the credit rating industry have been successful in improving the quality of corporate credit ratings taking into account the major issue of political uncertainty in many countries.

This project aims to apply empirical and theoretical frameworks to analyse the performance of corporate ratings, focusing on the effects of the recent regulatory reforms and political uncertainty.ÌýThe project has the potential to deliver findings of relevance to a range of market participants, as well as credit rating agencies, regulators and policy makers.

2025

  • E-gyhoeddi cyn argraffu
    Soner, C., Alsakka, R. & Mantovan, N., 1 Awst 2025, Yn: Journal of Rural Studies. 118, t. 103683
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2024

  • Cyhoeddwyd
    Vu, H., Klusak, P., Khoo, S. Y. & Alsakka, R., 12 Hyd 2024, Yn: European Journal of Finance. 30, 15, t. 1728-1756 29 t.
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Klusak, P., Uymaz, Y. & Alsakka, R., Gorff 2024, Yn: Journal of International Financial Markets, Institutions and Money. 94, 102022.
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2023

  • Cyhoeddwyd
    Nguyen, P. L. T., Alsakka, R. & Mantovan, N., Tach 2023, Yn: International Review of Financial Analysis. 90, 102910.
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Lam Thy Nguyen, P., Alsakka, R. & Mantovan, N., Medi 2023, Yn: Journal of Banking and Finance. 154, 106938.
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2022

  • Cyhoeddwyd
    Vu, H., Alsakka, R. & ap Gwilym, O., Ion 2022, Yn: Journal of International Financial Markets, Institutions and Money. 76, 101478.
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Jones, L., Alsakka, R., ap Gwilym, O. & Mantovan, N., Meh 2022, Yn: Journal of Financial Stability. 60, 100999.
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Jones, L., Alsakka, R., ap Gwilym, O. & Mantovan, N., Tach 2022, Yn: European Economic Review. 150, 104280.
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2019

  • Cyhoeddwyd
    Tran, V., Alsakka, R. & ap Gwilym, O., 2 Medi 2019, Yn: European Journal of Finance. 25, 13, t. 1211-1233
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Klusak, P., Alsakka, R. & ap Gwilym, O., Tach 2019, Yn: International Review of Financial Analysis. 66, 101365.
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2018

  • Cyhoeddwyd
    Abad, P., Alsakka, R. & ap Gwilym, O., Gorff 2018, Yn: Journal of International Money and Finance. 85, t. 40-57
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2017

  • Cyhoeddwyd
    Alsakka, R., ap Gwilym, O. M. & Vu, H., 2017, Yn: European Journal of Finance. 23, t. 859-884
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Klusak, P., Alsakka, R. & ap Gwilym, O., Maw 2017, Yn: British Accounting Review. 49, 2, t. 194-210
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Vu, H., Alsakka, R. & ap Gwilym, O., Gorff 2017, Yn: International Journal of Finance and Economics. 22, 3, t. 216-233
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2015

  • Cyhoeddwyd
    Williams, G. L., Alsakka, R. & ap Gwilym, O. M., 10 Chwef 2015, Yn: Journal of International Financial Markets, Institutions and Money. 36, t. 113-129
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Alsakka, R., ap Gwilym, O., Klusak, P. & Tran, V., 28 Meh 2015, Yn: Economic Notes. 44, 2, t. 275-308
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Vu, H., Alsakka, R. & ap Gwilym, O. M., Mai 2015, Yn: Journal of International Money and Finance. 53, t. 174-191
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2014

  • Cyhoeddwyd
    Tran, V., Alsakka, R. & ap Gwilym, O. M., 5 Meh 2014, Yn: International Review of Financial Analysis. 34, t. 101-113
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    ap Gwilym, O. M., Alsakka, R., Ap Gwilym, O. & Vu, T. N., 13 Ebr 2014, Yn: Journal of International Money and Finance. 49, part B, t. 235-257
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2013

  • Cyhoeddwyd
    Alsakka, R. & ap Gwilym, O. M., 1 Ion 2013, Yn: Journal of Economic Behavior and Organization. 85, t. 144-162
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    ap Gwilym, O. M., Williams, G. L. & Alsakka, R., 1 Chwef 2013, Yn: Journal of Banking and Finance. 37, 2, t. 563-577
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2012

  • Cyhoeddwyd
    Alsakka, R. & ap Gwilym, O., 1 Meh 2012, Yn: Journal of International Money and Finance. 31, 4, t. 845-864
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Alsakka, R. & ap Gwilym, O., 1 Ion 2012, Yn: International Review of Financial Analysis. 21, t. 45-55
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Alsakka, R. & ap Gwilym, O., 1 Ion 2012, Yn: Emerging Markets Finance and Trade. 48, 1, t. 4-24
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

2011

  • Cyhoeddwyd
    Alsakka, R. & ap Gwilym, O., 1 Rhag 2011, Yn: Intereconomics : review of European economic policy. 46, 5, t. 248-253
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Alsakka, R., Ap Gwilym, O. & Molyneux, P. (Golygydd), 1 Ion 2011, Bank Strategy: Governance and Ratings. 2011 gol. Unknown, t. 134-156
    Allbwn ymchwil: Pennod mewn Llyfr/Adroddiad/Trafodion Cynhadledd › Pennod

2010

  • Cyhoeddwyd
    Alsakka, R. & ap Gwilym, O., 1 Medi 2010, Yn: Finance Research Letters. 7, 3, t. 140-147
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Alsakka, R. & ap Gwilym, O. M., 1 Tach 2010, Yn: Journal of Banking and Finance. 34, 11, t. 2614-2626
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    ap Gwilym, O. M., Alsakka, R. & Ap Gwilym, O., 1 Meh 2010, Yn: Emerging Markets Review. 11, 2, t. 79-97
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid
  • Cyhoeddwyd
    Alsakka, R. & Ap Gwilym, O., 1 Ion 2010.
    Allbwn ymchwil: Cyfraniad at gynhadledd › Papur

2009

  • Cyhoeddwyd
    ap Gwilym, O. M., Alsakka, R. & Ap Gwilym, O., 1 Meh 2009, Yn: Emerging Markets Review. 10, 2, t. 151-165
    Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

The British Academy/Leverhulme Small Research Grants June 2023 - May 25: (£9,865) The Impact of ÌýBrexit, Covid-19 Pandemic and Inflation on the UK and EU banking sectors.

Charted Banker Research Funding: Project ‘European Banking Union and its consequences for bank behaviour and bank credit ratings’. £1500- Dec 2017-Jan 2020

ESRC & BBS PhD Studentship in Financial EconomicsÌýstarting in September 2015 for three years. Full awards consist of a stipend of approximately £14,168 per annum and a fee contribution of approximately £4,084. Students will also be eligible to apply for a research allowance (£750 per annum).

ESRC & BBS PhD Studentship in Financial EconomicsÌýstarted in September 2012 for three years. Full awards consist of: a stipend of approximately £13,590 per annum and a fee contribution of approximately £3,807.

Editorial Board member:

  • European Journal of Finance (Sep 2024- Present)Ìý

Awards:Ìý

  • Â鶹Íø Teaching Fellowship - July 2022
  • Fellow of the Chartered Management Institute (FCMI).
  • Outstanding reviewer status for Journal of Banking and Finance in Aug 2017 in recognition of the contributions I made to the quality of the journal.
  • Center for the Enhancement of Learning: CELT Associate Award (2016).
  • Fellow of the Higher Education Academy (FHEA) in 2013.Ìý

External examiner for UG & PGT Programmes:

  • University of Liverpool (September 2023- Present)
  • De Montfort University (December 2020- Present)
  • Bristol University - UK (September 2018 - December 2022)
  • Newcastle University - UK (September 2016 – Nov 2021)
  • University of Hertfordshire UK & INTI University - Malaysia (Nov 2015 - Nov 2019)
  • External module marker and auditor for the London School of Economics and Political Science LSE (2009-2013)

PhD examinations: University of Bath, University of Bristol, University of Hull, University of Cape Town, Universiti Malaya, Â鶹Íø Business School.

Ah-hoc Refereeing

Journal of Money, Credit and Banking, Bank of Spain, Journal of Banking and Finance,ÌýJournal of Empirical Finance, Journal of International Money and Finance,European Journal of Finance,ÌýJournal of Economic Behavior and Organization, International Review of Financial Analysis;Emerging market Review, Journal of Financial Stability,Ìý Emerging Markets Finance and Trade, International Journal of Finance and Economics,ÌýPacific-Basin Finance Journal.