Faculty and ResearchExpert Guide

Shahid S. Hamid

Shahid S. Hamid

Chair, Department of Finance

Department of Finance

College of Business
Florida International University

Modesto A. Maidique Campus
11200 S.W. 8th St, RB 210
Miami, FL 33199

(305) 348-2680


  • Ph.D. in Economics
    University of Maryland, College Park, Maryland
  • Master of Arts in Economics
    University of Maryland, College Park, Maryland
  • Bachelor of Business Administration
    Kent State University, Kent, Ohio

Areas of Expertise

  • Corporate dividend and debt policies
  • Hurricane wind and flood loss modeling
  • stock market performance

Professional Activities

Dr. Shahid Hamid is Professor of Finance and Chair of the Finance department in the College of Business at Florida International University. He also serves as the Director of the Laboratory for Insurance, Financial and Economic Research located in the International Hurricane Research Center at FIU, and is the Director of an entrepreneurial venture for FIU, and past Director of the MS in Finance program. He has conducted research on a wide variety of topics including hurricane loss modeling, homeowner insurance, international stock markets, corporate financial policies, commercial banking, interest rate risk, derivatives, financial crisis, portfolio performance, central bank policy, technological change, mergers and acquisitions, free trade agreements, and securities class action lawsuits. His recent research work has focused on the insurance and financial consequences of hurricanes. Professor Hamid has received 39 research grants for over $19 million. As the Principal Investigator and project manager for about 18 years he assembled and led a multi-disciplinary team of two dozen current and past professors and experts and about seventy five students in the project to develop the Florida Public Hurricane Loss Model for wind loss and flood loss. The model has been used about 1,000 times by the state of Florida to evaluate rate filings and conduct stress tests on insurance companies. He is also director of an entrepreneurial venture for FIU Research Foundation that provides hurricane loss modeling service to about thirty client companies in the private sector. Outside of research, Professor Hamid has conducted seminars for executives, served as occasional consultant, and participated and testified in legislative and public hearings. He has been interviewed frequently on professional topics by the print and TV news media.

Dr. Hamid has produced over 180 refereed academic journal papers, proceedings, book chapters, conference presentations, and technical reports. He secured his Ph.D. degree from the University of Maryland in 1988 and the Chartered Financial Analyst charter in 2001 from the CFA Institute. Professor Hamid has provided extensive professional service and served as reviewer for many academic journals and conferences. Dr. Hamid was appointed to the Florida Commission on Hurricane Loss Projection Methodology and has served as technical advisor to the Academic Task force on Hurricane Catastrophe Insurance. He has been member of about 21 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 university graduate council. Dr. Hamid has taught over a dozen different bachelor, masters, and doctoral courses, and created and administered as director the very successful accelerated Master of Science in Finance program. He has received 17 teaching awards and 5 research awards including the FIU outstanding research and outstanding teaching and 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

Talukdar, B., Bhuyan, R., Hamid, S., & Zhao, L.


Intraday Transactions, Volume, and Volatility in Pre and Post Decimalization Regimes.

Quarterly Journal of Finance and Accounting



Tao, Y., Wang, T., Sun, A., Hamid, S., Chen, S., & Shyu, M.


Florida Public Hurricane Loss Model: Software System for Insurance Loss Projection.

Software Practice and Experience

, 52(7)


Figueiredo, A., Hamid, S., & Holowczak, R.


Stock Market Signals and Consequences of Securities Class Actions Lawsuits: A Microstructure Perspective.

Review of Quantitative Finance and Accounting

, 57(2)


Hamid, S., & March-Dallas, S. (2019). Turn of the Month Effect across Equity Markets, Across Industries, and Across Extreme Market Conditions. Journal of Business & Economic Policy.

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). View Article

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

Gulati, S., Florence, G., Kibria, G., Hamid, S., Cocke, S., & Pinelli, J. (2017). Probable Maximum Loss for Florida Public Hurricane Loss Model: A Comparison. Journal of Risk and Uncertainty in Engineering Systems, Part A, 3(4).

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

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).

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

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.

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).

Pita, P., Pinelli, J., Cocke, S., Gurley, K., & Mitrani-Reiser, J. (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.

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).

Lobanova, O., Hamid, S., & Prakash, A. (2011). Short Sale Ban during Financial Crisis: Impact on Volatility, Liquidity, and Market Efficiency. International Journal of Finance, 23(2).

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

Hamid, S., Golam, K., Gulati, S., Powell, M., & Annane, B. (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).

Hamid, S., Kibria, B. G., Gulati, S., Powell, M., & Annanne, B. (2010). Predicting losses of residential structures in the state of Florida by the public hurricane loss evaluation model. Statistical Methodology, 7(5).

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

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).

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).

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

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

Pinelli, J. P., Simiu, E., Gurley, K., Subramanian, C., & Zhang, L. (2004). Hurricane Damage Prediction Model for Residential Structures. Journal of Structural Engineering, 130(11).

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

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

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).

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).

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).

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

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).

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).

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

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

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

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).

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).

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).

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

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).

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.

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