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I am pleased to share that our paper, “Geopolitical threats and the reversal of equity size premiums,” co-authored with Syed Riaz Mahmood Ali, has been published in the Journal of Asset Management!

In this paper, we examine how geopolitical threats affect U.S. equity portfolios across market capitalizations using daily returns from 1995 to 2024.

Key takeaways:
*** Large and prime-cap portfolios generate significantly positive returns during heightened geopolitical tensions and yield 0.52% risk-adjusted excess returns during high-threat periods.
*** Small and mid-cap portfolios show no response.
*** Markov regime-switching analysis reveals that this effect intensifies eightfold during high-volatility states.
*** Effects occur contemporaneously with no lagged adjustment and indicate rapid information processing.

This work extends safe haven asset literature to intra-asset class dynamics and demonstrates how firm size moderates geopolitical risk responses with direct implications for strategic asset allocation during global uncertainty.

I am grateful to OP Pohjola Research Foundation for their gracious financial support for this project.

Finally, immense thanks to my co‑author, reviewers, and mentors for their guidance and support!

The paper can be accessed from this link: https://link.springer.com/article/10.1057/s41260-025-00441-z

Feeling excited to share that our paper, “Disaggregated Geopolitical Risks and Global Stock Returns,” co-authored with Dr. Syed Riaz Mahmood Ali, has been published in the Global Finance Journal!

In this paper, we introduce a novel framework for measuring how geopolitical risk exposure (GRE) impacts equity markets across 40 countries (1995–2022).

Key takeaways:
*** Geopolitical Threats (GPTs) exhibit stronger predictive power than geopolitical acts (GPAs) in forecasting one-month-ahead returns for 68% of countries (vs. 43% for GPAs).
*** GPT effects remain statistically significant even after controlling for established market‑risk factors in 33% of markets.
*** Out‑of‑sample tests deliver positive R² in 60% of countries and yield meaningful utility gains for mean–variance investors.

This work provides investors and risk managers with a practical toolkit to incorporate geopolitical assessments into portfolio decisions. Immense thanks to my co‑authors, reviewers, and mentors for their guidance and support!

The link is provided in the comment.

HSC Finance Chapter-7 (Cost of Capital) Creative Question Solution: Md Khaled Hossain Rafi Sir Welcome to Skill Flora! Here you can cultivate your educational experience. Education has been made free for all here. This video entails a solution to creat...

Cost of capital.
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HSC Finance Chapter-7 (Cost of Capital) Lecture-2: Md Khaled Hossain Rafi Sir Welcome to Skill Flora! Here you can cultivate your educational experience. Education has been made free for all here. This video entails in-depth discussion...

Dear students,
Do you want to learn how to draw a break-even chart? Then this video is prepared only for you. Please click the following link to access the video:
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Another video on showing how to calculate stock value using excel formulas with easily-understandable techniques has been published on my youtube channel. Please everyone gives a boost up by spreading this news to others to get more subscribers for my channel.
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A new video has been released on "how to calculate the bond value using formulas in excel". Everyone is requested to have a look at the video should it help them a bit. Greetings from the Lecturer Md Khaled Hossain Rafi
Video link: https://youtu.be/fAIOFYkl2rE

Dear Class-XI, XII, and HSC Examinees,

After a long break, I'm back on track again. This time you'll find out a video on Chapter-4 of your textbook, precisely, Break-even Analysis. In this video, you'll get to know fundamental concepts of break-even point, fixed cost, variable cost, contribution margin, safety margin, and many more. Hope you'll enjoy it. Please spread this channel to others to help me survive since working on each video consumes huge time and effort. My prayers are always with you. The video link is provided below:
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Skill Flora This is a platform that aims at providing educational services (lectures, counseling etc.) to everyone who is thirsty for acquiring knowledge. This channel i...

Another video on learning financial formulas in excel has been published for everyone's convenience. This time it focuses on calculating PV and FV for single cash flow, mixed stream and annuity (both ordinary and due). Hope everyone will enjoy it