Professor Iftekhar Hasan, Ph.D.

Professor Iftekhar Hasan, Ph.D.
Aktuelle Position

seit 12/16

Research Fellow der Abteilung Finanzmärkte

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 1/11

University Professor und E. Gerald Corrigan Chair in Finance

Gabelli School of Business, Fordham University

Forschungsschwerpunkte

  • Unternehmensfinanzierung
  • Banken
  • Finanzbuchhaltung

Iftekhar Hasan ist seit Dezember 2016 Research Fellow am IWH. Seine Forschungsinteressen umfassen Kapitalmärkte, angewandte Unternehmensfinanzierung, Risikokapital, Schwellenmärkte, internationales Bankwesen und Finanzbuchhaltung.

Iftekhar Hasan unterrichtet an der Fordham University und leitet dort das Doktorandenprogramm. Darüber hinaus fungiert er als wissenschaftlicher Berater für die finnische Zentralbank und als Chefredakteur des Journal of Financial Stability.

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Professor Iftekhar Hasan, Ph.D.
Professor Iftekhar Hasan, Ph.D.
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Publikationen

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Does Social Capital Matter in Corporate Decisions? Evidence from Corporate Tax Avoidance

Iftekhar Hasan Chun-Keung (Stan) Hoi Qiang Wu Hao Zhang

in: Journal of Accounting Research, Nr. 3, 2017

Abstract

We investigate whether the levels of social capital in U.S. counties, as captured by strength of civic norms and density of social networks in the counties, are systematically related to tax avoidance activities of corporations with headquarters located in the counties. We find strong negative associations between social capital and corporate tax avoidance, as captured by effective tax rates and book-tax differences. These results are incremental to the effects of local religiosity and firm culture toward socially irresponsible activities. They are robust to using organ donation as an alternative social capital proxy and fixed effect regressions. They extend to aggressive tax avoidance practices. Additionally, we provide corroborating evidence using firms with headquarters relocation that changes the exposure to social capital. We conclude that social capital surrounding corporate headquarters provides environmental influences constraining corporate tax avoidance.

Publikation lesen

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Social Capital and Debt Contracting: Evidence from Bank Loans and Public Bonds

Iftekhar Hasan Chun-Keung (Stan) Hoi Qiang Wu Hao Zhang

in: Journal of Financial and Quantitative Analysis, Nr. 3, 2017

Publikation lesen

Arbeitspapiere

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Technology Adoption and the Bank Lending Channel of Monetary Policy Transmission

Iftekhar Hasan Xiang Li

in: IWH Discussion Papers, Nr. 14, 2021

Abstract

This paper studies whether and how banks‘ technology adoption affects the bank lending channel of monetary policy transmission. We construct a new measurement of bank-level technology adoption, which can tell whether the technology is related to the bank‘s lending business and which specific technology is adopted. We find that lending-related technology adoption significantly strengthens the transmission of the bank lending channel, meanwhile, adopting technologies that are not related to lending activities significantly mitigates that. By technology categories, the adoption of cloud computing technology displays the largest impact on strengthening the bank lending channel. Moreover, higher exposure to BigTech competition is significantly associated with a weaker reaction to monetary policy shocks.

Publikation lesen

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Cultural Resilience, Religion, and Economic Recovery: Evidence from the 2005 Hurricane Season

Iftekhar Hasan Stefano Manfredonia Felix Noth

in: IWH Discussion Papers, Nr. 9, 2021

Abstract

This paper investigates the critical role of religion in the economic recovery after high-impact natural disasters. Exploiting the 2005 hurricane season in the southeast United States, we document that establishments in counties with higher religious adherence rates saw a significantly stronger recovery in terms of productivity for 2005-2010. Our results further suggest that a particular religious denomination does not drive the effect. We observe that different aspects of religion, such as adherence, shared experiences from ancestors, and institutionalised features, all drive the effect on recovery. Our results matter since they underline the importance of cultural characteristics like religion during and after economic crises.

Publikation lesen

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Financial Technologies and the Effectiveness of Monetary Policy Transmission

Iftekhar Hasan Boreum Kwak Xiang Li

in: IWH Discussion Papers, Nr. 26, 2020

Abstract

This study investigates whether and how financial technologies (FinTech) influence the effectiveness of monetary policy transmission. We use an interacted panel vector autoregression model to explore how the effects of monetary policy shocks change with regional-level FinTech adoption. Results indicate that FinTech adoption generally mitigates monetary policy transmission to real GDP, consumer prices, bank loans, and housing prices. A subcategorical analysis shows that the muted transmission is the most pronounced in the adoption of FinTech payment and credit, compared to that of insurance. The regulatory arbitrage and competition between FinTech and banks are the possible mechanisms leading a mitigated monetary policy transmission.

Publikation lesen
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