M Shibley Sadique, PhD

Professor
Department of Finance and Banking
University of Rajshahi
Phone: +88 0721 750041-9 Extension 4134
Fax: +88 0721 750064
E-mail : This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Shibley joined the department in early 1992. He has taught a number of graduate and post-graduate level courses in the area of finance and economics including Capital Expenditure Decision, Business Finance, Monetary Economics, Econometrics. His research has been published in refereed international journals such as International Journal of Finance & Economics, Asian Economic Review, and South Asian Journal of Management.

Academic Background

Monash University, Department of Accounting and Finance, Australia.
PhD, Finance, “Studies on Hard and Soft Information,” 2009.
La Trobe University, School of Business, Australia
M. Ec. (Thesis), “Testing for and Modelling Nonlinearity in Financial Asset Prices,” 1998.
University of Rajshahi, Department of Finance and Banking, Bangladesh
M. Com. Finance and Banking, First Class (2nd Place), 1991.

Areas of Academic Interest

Textual information and stock price behaviour, Nonlinearity in asset prices, Optimism in Analysts’ forecast.

Published Research Articles

“Long memory in stock returns: Evidence from the Dhaka Stock Exchange,” (with Z. Shimon) Studies in Business and Economics, 2007.
“Serial Dependence in the Dhaka Stock Exchange Returns: An Empirical Study” (with S. H. Chowdhury) Journal of Bangladesh Studies, 2002.
“The Size Effect on the Speed of Stock Price Adjustment to Information in the Indian Stock Market” (with S. H. Chowdhury and S. Akhter) The Asian Economic Review , 2002.
“Long-Term Memory in Stock Market Returns: International Evidence,” (with P. Silvapulle) International Journal of Finance & Economics, 2001.
“Capital Market Seasonality: The Case of Dhaka Stock Exchange Returns,” (with S. H. Chowdhury and A. Rahman) South Asian Journal of Management, 2001.
“Linear Causal Relationship between Changes in Stock Prices and Trading Volume: The Case of the DSE,” (with S. H. Chowdhury) University of Rajshahi Studies, 2001.
“The Effect of Foreign Aid on the Economic Growth of the SAARC Members” (S. H. Chowdhury) University of Rajshahi Studies, 2001.

Work in progress

Analyst bias, Firm Characteristics and Stock Returns in the Australian Stock Market (with F. In and M. Veeraraghavan)
The impact of spin and tone on stock returns and volatility (with F. In and M. Veeraraghavan).
Soft information and economic activity: Evidence from the Beige Book (with P. Wachtel, F. In and M. Veeraraghavan).

Research Grants

Faculty of Business Studies, Rajshahi University, Bangladesh, 1994-1995: On Stock Market Risk and Return: An Empirical Study on the DSE.
University Grants Commission, Bangladesh, 2004-2005: Long Memory in the DSE Stock Returns.

Conference Presentations

Analyst bias, Firm Characteristics and Stock Returns in the Australian Stock Market (F. In and M. Veeraraghavan). Accepted for presentation at 2009 American Accounting Association Annual Meeting, New York.
The impact of spin and tone on stock returns and volatility: Evidence from firm-issued earnings announcements and the related press coverage (with F. In and M. Veeraraghavan). Presented at 2008 American Accounting Association Annual Meeting, Anaheim, CA.
Media Spin and Stock Prices, Presented at 2006 AFAANZ Doctoral Consortium, Wellington, New Zealand.

Awards & Scholarships

University of Rajshahi Scholarship.
Youth Exchange Program Scholarship
Ministry of Foreign Affairs, Japan.
La Trobe University Postgraduate Research Scholarship (LTUPRS)
School of Business, La Trobe University.
Overseas Postgraduate Research Scholarship (OPRS), DEET, Australia
School of Business, La Trobe University.
Monash University Postgraduate Research Scholarship (MGS)
Department of Accounting and Finance, Monash University.
International Postgraduate Research Scholarship (IPRS), DEET, Australia
Department of Accounting and Finance, Monash University.