Finance
Monfort College of Business
PhD in Macroeconomics and Finance, Trinity College Dublin, University of Dublin, Ireland, 2005
MA Economics, Johns Hopkins University, 2000
Constantin Gurdgiev taught investments, financial trading, impact finance, corporate finance, statistics, financial macroeconomics, and risk and VUCA analysis at Trinity Business School, Trinity College Dublin (Ireland, 2000-present), Northeastern University (Boston, USA, 2020-2021), Presidio Graduate School (San Francisco, USA, 2020-2021) and Middlebury College, MIIS (USA, 2016-2019).
His expertise and academic research are concentrated in the fields of investment markets, geopolitical and macroeconomic risk, uncertainty and complexity analysis.
Outside the classroom, Professor Gurdgiev is a co-Founder and the Board Member of two financial services charities working with the issues of financial empowerment in Europe. He chairs the Board of Directors in a regulated financial services non-profit organization. He also advises a range of financial services start-ups and institutional investors through his advisory practice macroview.eu.
Before returning to full time role in academia in 2016, Professor Gurdgiev served as Head of Research and Founding Partner of St. Columbanus AG, a diversified asset management firm based in Switzerland. Prior to that, he served as Head of Macroeconomics with the Institute for Business Value, IBM (USA), and Director of Research with NCB Stockbrokers, Ltd (Ireland)
Professor Gurdgiev's research focuses primarily on investment markets, geopolitical and macroeconomic risks and VUCA analysis, volatility spillovers and systemic contagion analysis.
2016- Present Articles
Uncertainty and International Fund Flows: A Cross-Country Analysis, with French, J. Naka, A., & Shin, S. International Review of Financial Analysis, Volume 94, July 2024. https://doi.org/10.1016/j.irfa.2024.103282.
Economic uncertainty, public debt and non-performing loans in the Eurozone: three systemic crises, with Zeqiraj, V., Hammoudeh, S. & Sohag, K. International Review of Financial Analysis, Volume 93, May 2024, https://doi.org/10.1016/j.irfa.2024.103208.
Do price caps assist monetary authorities to control inflation? Examining the impact of the natural gas price cap on TTF spikes, with John W. Goodell, Andrea Paltrinieri, and Stefano Piserà. Energy Economics, Volume 131, March 2024, https://doi.org/10.1016/j.eneco.2024.107359.
Hedging and safe haven assets dynamics in developed and developing markets: are different markets that much different? with Alexander Petrovskiy. International Review of Financial Analysis, Volume 92, March 2024, 103059, https://doi.org/10.1016/j.irfa.2023.103059.
When doing the right thing doesn't pay: Impact of corporate decisions on Russian market participation in the wake of the Ukraine-Russia war, with Joseph J. French, Seungho Shin, Finance Research Letters, Volume 58, Part B, December 2023, 104468, ISSN 1544-6123, https://doi.org/10.1016/j.frl.2023.104468.
Global energy supply risk: Evidence from the reactions of European natural gas futures to Nord Stream announcements, with John W. Goodell, Andrea Paltrinieri, Stefano Piserà, 2023, Energy Economics, Volume 125, September 2023, https://doi.org/10.1016/j.eneco.2023.106838.
Board diversity: moderating effects of CEO overconfidence on firm financing decisions, with Q. Ni. Journal of Behavioral and Experimental Finance. Volume 37, March 2023
The budgets of wars: Analysis of the U.S. defense stocks in the Post-Cold War era, with Henrichsen, A., Mulhair, A. International Review of Economics and Finance, 82(2022), 335–346.
A Wavelet Perspective of Crisis Contagion between Advanced Economies and the BRIC Markets, with C. O’Riordan, 2021. Journal of Risk and Financial Management, October 202, Volume 14, 503.
Herding and Anchoring in Cryptocurrency Markets: Investor Reaction to Fear and Uncertainty, with D. O’Loughlin. Journal of Behavioral & Experimental Finance, 25, 100271. Winter 2020.
What the Hack: Evidence of Systemic Contagion in Financial Markets with S. Corbet. International Review of Financial Analysis. Vol.65, Issue C, October 2019. 101386. 10.1016/j.irfa.2019.101386
Fractal dynamics & wavelet analysis: Deep volatility properties of Bitcoin, Ethereum and Ripple, with V. Celeste and S. Corbet, 2019. Quarterly Review of Economics and Finance. 10.1016/j.qref.2019.09.011
U.S. Tax Inversions and Shareholder Wealth Effects, with B. Boermans,, E. Laing and R. B. Durand, 2019, International Review of Financial Analysis Volume 62, 35-52.
Long-term stock market volatility and the influence of terrorist attacks in Europe, with S. Corbet and A. Meegan Quarterly Review of Economics and Finance (2018), vol 68, May 2018, 118-131.
Financial Digital Disruptors with S. Corbet. Journal of Terrorism and Cyber Insurance, vol.2, Issue 1, March 2017, 49-62
Tsallis entropy: Do the market size and liquidity matter?, with Harte, G. Finance Research Letters, vol. 17(C), 2017, 151-157.
Patents and R&D Expenditure Effects on Equity Returns in Pharmaceutical Industry, with Feyzrakhmanova, M., Applied Economics Letters: Volume 23, 2016, Issue 4, 278-283.
2016-present Select Industry Publications and Book Chapters
AI in Financial Services: A Transformational Force Beyond the Hype, International Banker, Summer 2023, pages 108-111.
A Journey of Thousand Miles: A Decade of Impact of foreign shareholdings on the performance of the Chinese commercial banks: change is a foot, with Jiaqi, L. In Duc Khuong Nguyen (Ed.), Handbook of Banking and Finance in Emerging Markets, Chapter 10. Edward Elgar Publishing. 2022.
The New Warriors on the Currency Battlefield: CBDCs, International Banker, Autumn 2021, pages 58-63.
Submission to the Commission on Taxation and Welfare: Introduction of a Site Value Tax, Republic of Ireland. With Eóin Flaherty, Ronan Lyons and Emer O Siochru. November 2021
Informational efficiency and cybersecurity threats: A Social Impact Finance perspective of the systemic threats to blockchain applications, chapter 12 in “Innovations in Social Finance: Transitioning Beyond Economic Value”, eds. T. Walker, J. McGaughey, S. Goubran, and N. Wagdy, Springer. Spring 2021. Pages 347-372. ISBN 978-3-030-72535-8.
Cybercrime, Technological Disruption and Financial Markets Stability: A Novel Regulatory Approach to Cybersecurity Risk Prevention. Chapter in Ecological, Societal, and Technological Risks and the Financial Sector, eds. T. Walker, D. Gramlich, M. Bitar, and P. Fardnia, Palgrave Macmillan, 2019.
Recalling the Celtic Tiger, contributed 13 encyclopedic-style chapters on Irish Financial Crisis, 1990-2018, focusing on the causes and the aftermath of the Global Financial Crisis, and the Great Recession. Eds Lucey, B., Maher, E. and O’Brien, E., Reimagining Ireland, Volume 93, ISBN 978-1-78997-286-3. 2019.
Terms of Reference: Oireachtas Inquiry into Liquidation Costs of IBRC, Terms of Reference for the Joint Houses of the Parliament of the Republic of Ireland, April 2019. Testimony at the Public Accounts Committee, Joint Houses of Oireachtas, Republic of Ireland, July 11, 2019.
Expert Witness Opinion: Judicial Review Application by the Association of Pension Trustees of Ireland with respect to the EU IQRPSII Directive Implementation, May 2019.
OECD-Led Tax Reforms: A Prescription for a Less Competitive Economy (June 18, 2019), presented at Digital Services Taxation, Policy Roundtable, University of Warwick Office, Brussels, July 10, 2019.
Expert opinion on transposition of the EU Directive on the Activities and Supervision of Institutions for Occupational Retirement Provision (2016/2341) in Ireland (APTI), May 2019.
Capital Markets Union: A Path of Unfinished Reforms, with Lyon, T., Cohen, A., Poda, M., and Salyer, M. April-March 2019, GEU/NGL European Parliament Group, EU Parliament, Brussels.
Optimal Structuring of Regulatory Enforcement and the Irish Experience, expert opinion for the High Court hearings in the case of J.S. Purcell v Central Bank and the Attorney General of Ireland, 2015-2016.
Euro After the Crisis: Key Challenges and Resolution Options, report commissioned by the European Parliament (GUE/NGL Group). Published: December 2015 – January 2016.
Financial Transactions Tax: Meta-analysis of International Evidence, with B. Murphy (TCD). In Lessons from the Great Recession: At the Crossroads of Sustainability and Recovery. Co-edited with L. Leonard & M. A. Gonzalez-Perez. Emerald, 2016. vol 18 ISBN: 978-1-78560-743-1.
Crisis Contagion from Advanced Economies into BRIC: Not as Simple as the Old Days, in Lessons from the Great Recession: At the Crossroads of Sustainability and Recovery. Co-edited with L. Leonard & M. A. Gonzalez-Perez. Emerald, 2016. vol 18 ISBN: 978-1-78560-743-1.
Books:
Lessons from the Great Recession: At the Crossroads of Sustainability and Recovery. Book, co-edited with Leonard, L, and Gonzalez-Perez, M.A. Emerald Publishers, United Kingdom. 2016. vol 18; ISBN: 978-1-78560-743-1.
What if Ireland Defaults, eds B. Lucey, C. Gurdgiev, and C. Larkin, Blackwell Publishers, April 2012.
Perspectives on International Debt, eds C. Gurdgiev, C. Kearney and S. Jackson, all Institute for International Integration Studies, Trinity College Dublin, 2008. Liffey Press, Dublin, 197 pages, ISBN 978-1-905785-24-7
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