Dr Imtiaz Sifat

Lecturer

Department of Accounting & Finance

Imtiaz.Sifat@monash.edu
603 5514 5835
Room 6-5-71

 
 

Imtiaz obtained his PhD in Finance with a focus on market microstructure as part of Khazanah and Yunus Center’s Asia Scholar scheme. He holds an MBA in Finance as well as an MSc with an emphasis on Islamic Banking and Finance. He has taught courses covering topics such as Financial Economics, Financial Management, Financial Institutions & Markets, International Finance, Corporate Finance, etc. In terms of research, most of Imtiaz’s output till date has been driven by his experience in financial markets. His research, thus, reflects both an analyst and an academic’s perspective. Post-PhD, Imtiaz has heeded his mentors’ advice on developing an independent scholarly niche. Accordingly, his current modus operandi in research leans towards “risk with a financial economics flavor.” Imtiaz maintains a web presence at http://www.sifat.asia

Academic Qualifications

Doctor of Philosophy
Institution International Islamic University Malaysia
Year awarded 2018
Master of Science
Institution International Islamic University Malaysia
Year awarded 2015
Master of Business Administration
Institution IBAIS University
Year awarded 2013

Professional Membership

1 Professional Risk Managers’ International Association
2 American Statistical Association
3 Central Bank Research Association

Areas of Expertise

1 Markets & Institutions
2 Asset Pricing
3 Risk Management
4 Financial Economics
5 Macro-Finance
6 Islamic Finance

Teaching

Subject CodeSubject
BFW1001 Foundations of Finance

Book

* Bay’ al-salam and istisna’: Applications, risks, and related issues from the Malaysian Perspective (2018); ISBN: 978-967-418-465-0; IIUM Press— Authors: Azhar Mohamad, Imtiaz Sifat, Momin Qatei, Anisza Hasmawati

Scholarly Journals

* Mohamad, A., Sifat, I. M., Thaker, H. M. T., & Noor, A. M. (2020). On IMF debt and capital control: evidence from Malaysia, Thailand, Indonesia, the Philippines and South Korea. Journal of Financial Regulation and Compliance. [ABDC: C]
* Sifat, I.M, Mohamad, A., & Amin, K. R. (2020). Intertemporal price discovery between stock index futures and spot markets: New evidence from high‐frequency data. International Journal of Finance & Economics. [ABDC: B]
* Damane, M., & Sifat, I. (2020). Testing for a common Phillips curve in common monetary area of Southern Africa. Journal of Economic Studies. [ABDC: B]
* Sifat, I. M., & Mohamad, A. (2020). A survey on the magnet effect of circuit breakers in financial markets. International Review of Economics & Finance. [ABDC: A]
* Sifat, I. M., & Thaker, H. M. T. (2020). Predictive power of web search behavior in five ASEAN stock markets. Research in International Business and Finance, 52, 101191. [ABDC: B]
* Venkadasalam S., Mohamad, A., & Sifat, I. M. (2020). Operational efficiency of shipping companies. International Journal of Emerging Markets. [ABDC: B].
* Sifat, I., & Mohamad, A. (2020). Ex-post effects of circuit breakers in crisis and calm markets. Journal of Economic Studies. [ABDC: B]
* Sifat, I. M., Mohamad, A., & Shariff, M. S. B. M. (2019). Lead-Lag relationship between Bitcoin and Ethereum: Evidence from hourly and daily data. Research in International Business and Finance, 50, 306-321. [ABDC: B]
* Hashim, M., Mohamad, A., & Sifat, I. M. (2019). The sustainable development consequences of IMF debt vs. capital control: Comparing progress in GPI and GDP terms for Korea and Malaysia. Journal of Cleaner Production, 234, 725-742. [ABDC: A]
* Sifat, I. M., & Mohamad, A. (2019). Randomness for Asset Prices Constrained by Price Limit Regimes: A Malaysian Case Study. The Journal of Private Equity, 22(4), 111-144. [ABDC: C]
* Sifat, I. M., & Mohamad, A. (2019). Circuit breakers as market stability levers: A survey of research, praxis, and challenges. International Journal of Finance & Economics, 24(3), 1130-1169. [ABDC: B]
* Abd. Wahab, M. A., Mohamad, A., & Sifat, I. (2019). On Contango, Backwardation, and Seasonality in Index Futures. The Journal of Private Equity, 22(2), 69-82. [ABDC: C]
* Lebbe, S. S., Mohamad, A., & Sifat, I. M. (2019). Back to the future: returning to silver-backed money in Sri Lanka. Journal of Islamic Accounting and Business Research. [ABDC: C]
* Sifat, I. M., Mohamad, A., & Hamid, Z. (2019). Aberrant investor participation amid substantial price swings: high-frequency evidence of magnet-repellent effect from Malaysia. Macroeconomics and Finance in Emerging Market Economies, 12(1), 71-94. [ABDC: C]
* Sifat, I. M., & Mohamad, A. (2018). Trading aggression when price limit hits are imminent: NARDL based intraday investigation of magnet effect. Journal of Behavioral and Experimental Finance, 20, 1-8. [ABDC: A]
* Hashim, M., Sifat, I. M., & Mohamad, A. (2018). GDP vs genuine progress quantification of economic performance in South Korea and Malaysia. Economics and Business Letters, 7(4), 169-178.
* Sifat, I., Mohamad, A., & Hamid, Z. (2018). An investigation of magnet effect via overnight returns: the Malaysian case. Journal of Capital Markets Studies.
* Karim, R., Muhammad-Sukki, F., Karim, M. E., Munir, A. B., Sifat, I. M., Abu-Bakar, S. H., ... & Muhtazaruddin, M. N. (2018). Legal and regulatory development of nuclear energy in Bangladesh. Energies, 11(10), 2847.
* Sifat, I. M., & Mohamad, A. (2018). From metal to paper: validating paper money from Islamic perspective. International Journal of Ethics and Systems. [ABDC: C]
* Karim, R., & Sifat, I. M. (2018). Treatment of silence as misrepresentation in contracts. International Journal of Law and Management. [ABDC: C]
* Sifat, I. M., & Mohamad, A. (2018). Revisiting Fiat Regime’s Attainability of Shari’ah Objectives and Possible Futuristic Alternatives. Journal of Muslim Minority Affairs, 38(1), 1-23.
* Mohamad, A., & Sifat, I. M. (2017). Gold vis-à-vis money in Islam: the case against Dinarist Movement. International Journal of Law and Management. [ABDC: C]
* Sifat, I. M., & Mohamad, A. (2016). Selling Short as Ijarāh with Istiḥsān and Its Ethical Implication. Arab Law Quarterly, 30(4), 357-377.
* Sifat, I. M., & Mohamad, A. (2015). Order imbalance and selling aggression under a shorting ban: Evidence from the UK. International Review of Financial Analysis, 42, 368-379. [ABDC-A]

Conference Proceedings

*Time-Varying Persistence Risk in Equity and Foreign Exchange Markets (MFA Conference, 2019)
*Lead-Lag Relationship between Kuala Lumpur Index Futures and Spot (MFA Conference, 2019)
*Crude Oil Futures and Economic Uncertainty (ENSCON, Istanbul, 2019)
*An Empirical Test of Implied Volatility in Singaporean Structured Warrants (MFA Conference, 2018)
*Is There A J-curve Between Malaysia and her Trading Partners? Evidence from ARDL Test and Industry Level Data (6th Malaysia Statistics Conference, 2018)
*Magnet Effect of Price Limits: Evidence from Bursa Malaysia (47th IBRC, 2017; Osaka)
*Predicting Financial Distress based on Corporate Actions: Malaysian Evidence (3rd ICGBS, 2016)
*Innovation in Classroom: The Case for Project Based Learning (ICSI 2016; Institut Sosial Malaysia)

Local Grants

Title Simultaneous Discontinuities in Asset Prices
Investigators Imtiaz Sifat
Funding Period Jan 2020 – Dec 2020
Funding Body/Organisation Sunway University
Title Pricing Efficiency, Hedging, and Risk Management in Futures Exchanges
Investigators Imtiaz Sifat
Funding Period Jan 2020 – Dec 2020
Funding Body/Organisation Sunway University
Title Sovereign Debt, Credit Rating and Fiscal Sustainability
Investigators M Ariff, Yeah Kim Leng, Hassanudin Thas Thaker, and Imtiaz Sifat
Funding Period Sep 2019 – Aug 2021
Funding Body/Organisation Ministry of Higher Education, Malaysia

Current Supervision

Student Siew Sim Chuah, Joyce
Title Retirement readiness in Malayisa: Challenges and Opportunities, PhD
Student Angelica Lim Kum Yee
Title A framework for the adoption of BDA in Malaysian Manufacturing SMEs, PhD
Student Kimberly Soh Sui Ling
Title The Role of Design Thinking Orientation in Strengthening Dynamic Capabilities, PhD
Student Nazirul Hazim A. Khalim
Title Hunting Unicorns in the Magic Forest: Innovation and Dynamic Capabilities of Start-ups, PhD
Student Chun Min Soo
Title Key drivers for Gross National Happiness: the perspective of Malaysia PhD
Student Li-Ann Hwang
Title The Role of ICT in enhancing the education development of children from marginalized communities, PhD

Completed PhD Supervision

Student Jie Ying Ewilly, Liew
Title Social Network Technology, Dynamic Capability and Creative Learning, PhD
Awarding University Monash University
Student Jeyanthi Thuraisingham
Title Efficacy of microfinance schemes in enhancing economic wealth of marginalized communities in a developing country: the case of Malaysia
Awarding University Monash University
Student N. Suppiah, Visvalingam
Title An Empirical Examination of Selected Factors Influencing Tacit Knowledge Sharing Behaviour in Organizations, PhD
Awarding University Monash University
Student Chin Chin, Wong
Title An Empirical Study of Consumers’ Perspectives on Mobile Advertising in an Emerging Market, PhD
Awarding University Monash University
Student Li-Ann Hwang
Title The Role of ICT in enhancing the education development of children from marginalized communities, PhD
Awarding University Monash University

Completed Hons Supervision

Student Eshan Chrysanthus Siriwardena
Title Innovation Capabilities and Econometrics
Awarding University Monash University
Student Hwang Li-Ann
Title Social Ties and Subjective Well-Being of University Students: The Role of Social Network Sites (BBusCom, Honours)
Awarding University Monash University
Student Nursultan Zhamgyrchiev
Title Personal & Social factors that Influence entrepreneurial intention and Orientation among University Students, (BBusCom, Honours)
Awarding University Monash University
Student Chua Jing Moon
Title The Key Determinants of Happiness: A Panel Data Approach (BBusCom Honours)
Awarding University Monash University
Student Priyanka Puri
Title Post Air Travel Tragedies: Factors Influencing Malaysia Airlines Brand Image and Behavioral Intention, (BBusCom Honours
Awarding University Monash University
Student Jie Ying Ewilly, Liew
Title Key Drivers of Social Network Services Adoption in a Developing Country: The case of facebook in Malaysia: (BBusCom Honours)
Awarding University Monash University
Student Lim Xi Roa
Title Performance of Initial Public Offerings in Malaysia, (BBusCom Honours), 2008
Awarding University Monash University
Student Yap Seong Yu
Title Adoption of Mobile Banking in the Klang Valley, BBusCom Honours, 2006
Awarding University Monash University

Local Award

Award Name Finalist (Outstanding, sustained teaching excellent), Private Education Excellence Awards
Awarding Body Koperasi Pendidikan Swasta Malaysia Berhad (Private Education Co-Operative Of Malaysia)
Year of award 2019
Project Title NA
Award Name Jeffrey Cheah Travel Grant for Southeast Asia Studies at Harvard University
Awarding Body The Jeffrey Cheah Institute on (JCI) Southeast Asia
Year of award 2015
Project Title Smart Learning Ecosystem to Leap-Frog to an Innovation-Driven and High Income Economy
Award Name Commendation from the Deputy Vice Chancellor (Education) for Teaching
Awarding Body Monash University Sunway campus
Year of award 2011
Project Title NA
Award Name Pro Vice Chancellor Award for Research
Awarding Body Monash University Sunway campus
Year of award 2010
Project Title MOF Project
Award Name Pro Vice Chancellor Award for Excellence (Teaching)
Awarding Body Monash University Sunway campus
Year of award 2009
Project Title Customization of Curriculum
Award Name Pro Vice Chancellor Award for Excellence (Research)
Awarding Body Monash University Sunway campus
Year of award 2009
Project Title Decomposing the Malaysian Aggregate Shocks Using the Bayesian State-Space Based Approach
Award Name Pro Vice Chancellor Award for Excellence (Teaching)
Awarding Body Monash University Sunway campus
Year of award 2008
Project Title Display of leadership and quality control of sessional staff through induction program and peer review

Events, Workshops & Trainings organized and/or conducted

* [2020] GDP Forecasting workshop (Jointly with Professor Mahendhiran Nair and Dr Akram Hasanov)
* [2020] “Graduate Research Seminar: How to Identify A Research Question” by Prof Marko, University of Magdeburg
* [2019] Internal Workshop on Introduction of Partial Least Squares Structural Equation Modelling (PLS-SEM) Workshop
* [2019] Mixed Methods Research Workshop by Prof Viswanath Venkatesh, University of Arkansas
* [2019] “High Dimension Time Series & “Am I a Data Scientist” Workshop (2019) by Prof Rob Hydman, Head of Department of Econometrics & Business Statistics, Monash University Australia
* [2019] Graduate Research Workshop: Advanced Issues In Partial Least Squares Structural Equation Modeling (PLS-SEM) by Prof Marko, University of Magdeburg
* [2019] “Short-And-Long Term Effects of Nonconsciously Processed Ambient Scents In A Servicescope Findings from Two Field Experiments” Research Seminar by Prof Marko, University of Magdeburg
* [2018] “Power of Statistics for Decision Makers: Patterns, Prediction and Prescriptive Analytics” Research Method Workshop. (Jointly with Prof Mahendhiran Nair and Dr Akram Hasanov)/
* [2018] R-Studio Workshop
* [2018] Two Day Time Series Econometrics: Unit Roots, Integration & Structural Breaks Workshop
* [2018] Multivariate Data Analysis workshop
* [2018] Introduction to R workshop
* [2016] Research Method Workshop by Prof Viswanath Venkatesh, University of Arkansas
* [2014 - 2015] Theory Development workshop 2014 by Prof Viswanath Venkatesh, University of Arkansas
* [2014] International Workshop on Mathematical Modelling for Application on “Big Data and the Power of Statistics for Decision Makers: Patterns, Predictions and Prescriptive Analytics”, Academy Sciences Malaysia. (Jointly with Prof Mahendhiran Nair, Dr Akram Hasanov, Dr Jason Ng and Ms Elsa Phung)
* [2009 - 2010] Computable General Equilibrium (CGE) Training Programs at Ministry of Finance. (jointly with Centre of Policy Studies (CoPS), Monash University Australia)

Invited:

*[2019] Session Chair, Contributed Paper Sessions of International Statistical Institute World Statistics Congress (ISI WSC)
*[2019] Panel Member, “First Step to Injection Moulding 4.0, Graduation Ceremony” by Malaysian Plastic Manufacturer Association (MPMA)
*[2019] Moderator, "Trailblazing Research @ Monash University Malaysia”
*[2018] Facilitator and Presenter, Newton Research Link Workshop
*[2018] Local Programme Committee (LPC) Member, International Statistical Institute World Congress (ISI WSC) 2019.
*[2018] Panel Discussant, “Clarity Not Confusion Leading Business Direction” at the “Fourth Leap 2018 Conference.
*[2017] Speaker, Statistical Methods Workshop – “Statistics in Public Policy”, The Malaysian Public Policy Competition (MPPC)
*[2017] Panel Speaker, Digital transformation & Talent at the Global Business Services Forum 2017
*[2017] Facilitator, Power Statistics for Decision Makers: Patterns, Prediction and Prescriptive Analytics Workshop
*[2014] Moderator, National Hindu Conference on Women Empowerment