Faculty and ResearchExpert Guide

Shahid S. Hamid

Shahid S. Hamid

Chair, Department of Finance

Professor
Department of Finance

College of Business
Florida International University

Modesto A. Maidique Campus
11200 S.W. 8th St, RB 208B
Miami, FL 33199

P: (305) 348-2727
E: hamids@fiu.edu

Education

  • PhD, Economics
    University of Maryland, College Park, Maryland
  • Master of Arts, Economics
    University of Maryland, College Park, Maryland
  • Bachelor, Business Administration
    Kent State University, Kent, Ohio

Areas of Expertise

  • Asset Valuation Models
  • Banking and Bank Management
  • Catastrophe Loss Modeling
  • Corporate Dividend and Debt Policies
  • International Portfolio Management
  • Portfolio Performance Measurement
  • Stock Option Listing and Backdating
  • Insured Hurricane Property Loss Estimation, AAL and PML

Professional Activities

Dr. Hamid is Professor of Finance in the College of Business, and Director of the Laboratory for Insurance, Financial and Economic Research located in the International Hurricane Research Center at Florida International University. Professor Hamid also served as director of the Master of Science in Finance program for over a dozen years. He has conducted research on a wide variety of topics including hurricane loss modeling, vulnerability functions, cost benefit of mitigation, homeowner insurance, international stock markets, corporate financial policies, commercial banking, interest rate risk, derivatives, financial crisis, portfolio performance, central bank policy, technological change, free trade agreements, and accounting restatements. His recent research work has focused on the insurance and economic consequences of hurricanes.  He has produced over 180 refereed academic journal papers, proceedings, book chapters, conference presentations, and technical reports. Dr. Hamid’s research has been published in such journals as the Journal of Banking and Finance, Journal of Regional Science, Journal of Business Finance and Accounting, European Journal of Finance, Decision Sciences, International Trade Journal, Applied Economics, Quarterly Journal of Business and Economics, International Journal of Finance, Journal of Structural Engineering, Software Practice and Experience, Journal of Wind Engineering and Industrial Aerodynamics, IEEE proceedings, Natural Hazard Review and others. He has also presented his research at numerous meetings including those of the Financial Management Association, American Economic Association, American Risk and Insurance Association, European Finance Association, Multinational Finance Society and many more.

Dr. Hamid has received over $13 million in research grants. As the Principal Investigator and project manager for over a decade he assembled and led a multi-disciplinary team of over two dozen current and past professors and experts and about seventy students in finance and economics, engineering, meteorology, computer science, actuary, geoscience, statistics from FIU, UF, FSU, UM, FIT, Notre Dame, NOAA, NIST etc., in the project to develop, upgrade, and operate the Florida Public Hurricane Loss Model. The model has been used extensively by the state of Florida and by insurance firms. He is also director of an entrepreneurial venture for FIU that provides hurricane loss modeling service to client companies in the private sector.

Professor Hamid has conducted seminars for executives, served as occasional consultant in the financial industry, and participated and testified in legislative and public hearings, and served as reviewer for many journals and conferences. He has been interviewed frequently on professional topics by the print and TV news media. Previously, he was appointed to the Florida Commission on Hurricane Loss Projection Methodology, and also served as technical advisor to the Academic Task force on Hurricane Catastrophe Insurance. He has been member of about 19 university and college committees and is a leader in the faculty governance of curriculum having served as chair of university curriculum committee, chair of COB graduate curriculum committee, chair of COB research committee, member of university faculty senate, and member of the university graduate council. Dr. Hamid has taught over a dozen different bachelor, masters, and doctoral courses, and created and administered as director the tuition plus one year Master of Science in Finance program.  He has received 14 teaching awards and 5 research awards and 2 awards for service, including the FIU outstanding research and outstanding teaching as well as the top scholar awards. 

Courses Taught

  • Corporate Finance
  • Finance Doctoral Research Project
  • Finance Internship
  • Financial Planning and Statement Analysis
  • Intermediate Finance
  • Intermediate Financial Management
  • International Financial Management
  • Quantitative Methods in Financial Analysis
  • Securities Analysis
  • Seminar in Investments
  • Special Topics in Finance

Refereed Journal Articles

Gulati, S., George, F. & Hamid, S. (2018). Estimating extreme losses for the Florida Public Hurricane Model- Part II.  Theoretical and Applied Climatology. 131 (3-4), 1191-1202.


Gulati, S., George, F., Kibria, B., Hamid, S., Cocke, S. & et al.. (2017). Probable Maximum Loss for the Florida Public Hurricane Loss Model: A Comparison.  Journal of Risk and Uncertainty in Engineering Systems. 3 (4).


Oxenyuk, V., Gulati, S., Kibria, B. & Hamid, S. (2017). Distribution Fits for Various Parameters in the Florida Public Hurricane Loss Model.  Journal of Modern Applied Statistical Methods. 16 (1), 481-497.


Pita, G., Pinelli, J., Gurley, K., Cocke, S., Hamid, S. & et.al.. (2016). Hurricane vulnerability model for mid/high-rise residential buildings.  Wind &; Structures. 23 (5), 449-464.


Torkian, B., Pinelli, J., Gurley, K. & Hamid, S. (2014). Cost and Benefit Evaluation of Windstorm Damage Mitigation Techniques in Florida.  Natural Hazards Review. 15 (2), 150-157.


Gulati, S., George, F., Yang, F., Kibria, B. & Hamid, S. (2014). Estimating extreme losses for the Florida Public Hurricane Model.  Sri Lankan Journal of Applied Statistics., 247-271.


Pita, G., Pinelli, J., Gurley, K. & Hamid, S. S. (2013). Hurricane Vulnerability Modeling: Evolution and Future Trends.  Journal of Wind Engineering and Industrial Aerodynamics. 114, 96-105.


Lobonova, O., Hamid, S. S. & Prakash, A. (2012). Short sales ban and stock market liquidity: The comparison of NYSE and NASDAQ-listed stocks.  International Journal of Finance. 23 (2), 6750-6763.


Pita, P., Pinelli, J., Cocke, S., Gurley, K., Mitrani-Reiser, J. & J Weekes,Shahid S Hamid. (2012). Assessment of hurricane-induced internal damage to low-rise buildings in the Florida public hurricane loss model.  Journal of Wind Engineering and Industrial Aerodynamics., 76-87.


Hamid, S. S., Pinelli, J., Chen, S. & Gurley, K. (2011). Catastrophe model-based assessment of hurricane risk and estimates of potential insured losses for the state of Florida.  Natural Hazards Review. 12 (4), 171-177.


Pinelli, J., Pita, G., Gurley, K., Torkian, B., Hamid, S. S. & C Subramanian. (2011). Damage characterization: Application to the Florida public hurricane loss model.  Natural Hazards Review. 12 (4), 190-195.


Hamid, S., Golam Kibria, B. M., Gulati, S., Powell, M., Annane, B. & Steve Cocke,Jean-Paul Pinelli,Kurt Gurley,Shu-Ching Chen. (2010). Authors’ responses to the discussion on? Predicting losses of residential structures in the state of Florida by the public hurricane loss evaluation model?.  Statistical Methodology. 7 (5), 596-600.


Hamid, S., Kibria, B. G., Gulati, S., Powell, M., Annanne, B. & Steve Cocke,Jean-Paul Pinelli,Kurt Gurley,Shu-Ching Chen. (2010). Predicting losses of residential structures in the state of Florida by the public hurricane loss evaluation model.  Statistical Methodology. 7 (5), 552-573.


Chen, S., Chen, M., Zhao, N., Hamid, S., Chatterjee, K. & Michael Armella. (2009). Florida public hurricane loss model: Research in multi-disciplinary system integration assisting government policy making.  Government Information Quarterly. 26 (2), 285-294.


Pinelli, J., Gurley, K. R., Subramanian, C. S. , Hamid, S. S. & Pita, G. L. (2008). Validation of a probabilistic model for hurricane insurance loss projections in Florida.  Reliability Engineering and System Safety International Journal. 93 (12), 1896-1905.


Powell, M., Soukup, G., Cocke, S., Gulati, S., Morisseau-Leroy, N. & Shahid Hamid,N Dorst,L Axe. (2005). State of Florida Hurricane Loss Projection Model: Atmospheric Science Component.  Journal of Wind Engineering and Industrial Aerodynamics. 93 (8), 651-674.


Hamid, S. S., Parhizgari, A. M. & Prakash, A. J. (2005). International Stock Market Reaction to Interest Rate Changes by Major Central Banks.  International Journal of Finance. 17 (2), 3463-3485.


Chen, S. C., Gulati, S. & Hamid, S. S. (2004). A Web Based Distributed System for Hurricane Occurrence Projection.  Software Practice and Experience. 34 (1), 549-571.


Pinelli, J. P., Simiu, E., Gurley, K., Subramanian, C., Zhang, L. & A. Cope,J. Filliben,Shahid S Hamid. (2004). Hurricane Damage Prediction Model for Residential Structures.  Journal of Structural Engineering. 130 (11), 1685-1691.


Hamid, S. S. (2001). Estimation of Global Systematic Risk for Securities Listed in Mulitiple Markets.  European Journal of Finance. 7 (2), 117-130.


Prakash, A., De Boyrie, M. E., Hamid, S. S. & Segal, S. (2001). A Study Some Basic Properties of Mortgage Valuation Under Fixed and Graduated Payment Mortgage.  Finance India. 15 (4), 1173-1182.


Hamid, S. S., Srivastava, S. & Choudhury, A. H. (1999). Stock and Bond Market Linkage in the Empirical Study of Interest Rate Sensitivity of Bank Returns.  Journal of Applied Business Research. 15 (1), 47-58.


Prakash, A., Chang, C., Hamid, S. & Smyser, M. (1998). Will a Risk Averse Decision Maker Ever Really Prefer an Unfair Gamble? Sometimes He Will.  Decision Sciences. 29 (2), 521-524.


Prakash, A., deBoyrie, M., Smyser, M. & Hamid, S. (1997). Effect of Intervaling on Rate of Return and Probability Distribution.  International Journal of Finance. 9 (4), 820-833.


Hamid, S., Prakash, A. & Robbani, M. (1997). Did the Introduction of Stock Index Option Reduce the Benefits to Stocks from Their Own Option Listing?.  International Journal of Finance. 9 (1), 505-528.


Chunhachinda, P., Dandapani, K., Hamid, S. & Prakash, A. (1997). Portfolio Selection and Skewness: Evidence from International Stock Markets.  Journal of Banking &; Finance. 21, 143-167.


Hamid, S., Mathis, R., Dandapani, K. & Prakash, A. (1997). The Impact of the U.S-Canada Free Trade Agreement on the Large and Small U.S. Firms in the Textile, Computer, Oil & Gas, and Auto Industries.  International Trade Journal. 11 (2), 221-246.


Hamid, S., Prakash, A. & Smyser, M. (1996). Marginal Risk Aversion and Preferences in a Betting Market.  Applied Economics. 28, 371-376.


Prakash, A., Chang, C., Hamid, S. & Smyser, M. (1996). Why a Decision Maker May Prefer a Seemingly Unfair Gamble.  Decision Sciences. 27 (2), 239-253.


Karels, G., Hamid, S. & Prakash, A. (1996). A Simple Procedure to Amortize a Loan.  Finance India. 10 (1), 99-102.


Hamid, S., Prakash, A., Robbani, M. & Dandapani, K. (1995). The Determinants of Potential Gain to Shareholders From Option Listing.  International Journal of Finance. 7 (3), 1268-1287.


Prakash, A., Smyser, M. & Hamid, S. (1995). Log-Normality and Arbitrage Free Bounds on the Distribution Range of Zero-Coupon Pure Discount Bond Returns.  Journal of Business Finance and Accounting. 22 (6), 769-788.


Hamid, S. & Verma, S. (1994). Regional Variations in Technological Change and In Potential Gains From Consolidation Among U.S. Commercial Banks.  Journal of Regional Science. 34 (3), 411-423.


Chunhachinda, P., Dandapani, K., Hamid, S. & Prakash, A. (1994). Efficacy of Portfolio Performance Measures: An Evaluation.  Quarterly Journal of Business &; Economics. 31 (4), 74-87.


Hamid, S., Prakash, A. & Anderson, G. (1994). A Note on the Relationship Between Systematic Risk and Earnings Growth.  Journal of Business Finance and Accounting. 21 (2), 293-297.


Hamid, S., Prakash, A. & Robbani, M. (1992). An Empirical Examination of the Long Term Impact of Option Trading on the Risk, Return and Volume of Common Stocks.  Quarterly Journal of Finance. 21, 134-142.


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