Mohamed El Hedi Arouri - Economic Research Forum (ERF)

Mohamed El Hedi Arouri

Research Fellows

Professor of Finance and Sustainable Economics, Université Nice Sophia-Antipolis

Areas of Interest:

  • Corporate Finance
  • Energy Finance and Economics
  • Emerging and developed stock markets
  • Stock markets integration versus segmentation
  • International multifactor asset pricing
  • Portfolio diversification
  • Exchange rates risk
  • Econometrics applied to finance & Data mining


  • Ph.D., in Financial Economics, Université de Paris X Nanterre, France, 2006
  • M.A., Money, Bank & Finance, Université de Paris X Nanterre, France, 2002


  • Full Professor of Finance and Sustainable Economics, Université Nice Sophia-Antipolis – Université Côte d’Azur – Present
  • Professor of Economics & Finance –Université d’Auvergne, 2011
  • Associate Researcher, EDHEC Business School, 2007-present
  • Associate Professor of Finance , Université d’Orléans, 2007- 11

Latest Publications:

  • The More Children You Have the More Likely You Are to Smoke? Evidence from Vietnam, Oxford Development Studies, 2016.
  • CSR Performance and the Value of Cash Holdings: International Evidence, Journal of Business Ethics, 2015
  • Natural Disasters, Household Welfare and Resilience: Evidence from Rural Vietnam, World Development, 2015.
  • “Does Urbanization Help Poverty Reduction in Rural Areas? Evidence from Vietnam”, Harvard University, working paper series. July 2014, PGDA Working Paper No. 115.
  • What Can We Tell about Monetary Policy Synchronization and Interdependence over the 2007-2009 Global Financial Crisis?, Journal of Macroeconomics, Vol. 36, pp. 175-187, 2013.
  • An International CAPM for Partially Integrated Markets: Theory and Empirical Evidence. . Journal of Banking and Finance, Vol. 36, No. 9, pp. 2473-2493, 2012
Working Papers

On the Impact of Household Asset level and Inequality on Inter-governorate Migration: Evidence from Egypt

We investigate whether the level and the inequality of household assets impact inter-governorate migration in ... read more

Working Papers

On the Determinants of Souverign Wealth Funds’ Investments: Are Arab SWFS Different?

The present study investigates the determinants of Arab sovereign wealth funds' (SWFs) investment decisions. Using ... read more

Working Papers

Is Internal Migration A Way to Cope With Climate Change? Evidence From Egypt

In this study, we examine the effect of extreme weather events on migration among governorates ... read more

Working Papers

Do Pensions Reduce the Incentive to Work? Evidence From Egypt

In this study, we investigate the impact of the receipt of contributory and social pensions ... read more

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