Dr. Hermann Sintim-Aboagye

Associate Professor | Accounting and Finance | Feliciano School of Business
Location: 350 , Building 1
Telephone: 973-655-7517
Fax: 973-233-9126
Email: sintimaboh@montclair.edu


I had may undergraduate education from the University of Ghana where I graduated with a BA (Hons) in Geography with a minor in Philosophy. Subsequently, I obtained an MBA in finance from Tulane University and a PhD in financial economics from the University of New Orleans in 1991 & 2001 respectively. I am currently tenured and an associate professor of finance & economics in the dept. of finance and economics, school of business at montclair state university.


Corporate Finance
Investment Theory
Financial Markets


  • Ph D, Financial Economics, 2001, University of New Orleans, New Orleans

Honors and Awards

  • Professing Excellence Award, 2018 , Montclair State University, The Center for Leadership Development. (May 2018).
  • Academy of Business Journal 'Best Paper Award' in Global Financial Crisis , Academy of Business Research. (March 2011).
  • Certificate of Best Author Award , Journal of the Academy of Business, Cambridge.. (March 2006).
  • Global Education Award , Global Education, Montclair State University.


  • An Empirical Examination of Financial Market Reactions to Innovations of the Federal Funds Rate: A Test of Small,Mid and Large Cap Firms.
  • Conditional Volatility of Financial Markets, Market Liberalization and Economic Growth: Evidence from Emerging Economies.
  • The Impact of Capital Inflows on Interest Rates Risk Premia and the Influence of the Credibility of Monetary Policy. This research will focus on emerging economies and how the prosecution of monetary policy with specific reference t inflation Control is subsumed by external capital pressures.
  • The trade off between unemployment and economic expansion Revisited: Implications on Financial Markets in emerging economies
  • This research examines how credibility of monetary policy induces Macroeconomic and financial Stability. The focus is on emerging economies. This is an extension of our recently published manuscript.

Refereed Published Articles

  • Sintim-Aboagye, H., chakraborty, C., (2019). Foreign Capital Flows and Growth Under Varied Regimes of Central Bank Independence: Emerging Market Experience. Journal of Academy of Business and Economics, 19 (1), pp. 91-96.
  • Sintim, H., Chakraborty, C. (2019). High FDI Flows and High Central Bank Independence: A Note on Coordinated Growth Impact in Emerging Countries. Journal of International Finance Studies, 19 (1), pp. 11-16.
  • sintim-Aboagye, H., chakraborty, C., Byekwaso, S. (2017). Foreign Capital Flows, Uncertainties of Exchange Rates and Central Bank Independence: Implications for Emerging Economies. Atlantic Economic Journal, 45 (4), pp. 485-496.
  • Sintim, H. (2013). IMF and World Bank Economic Programs on Inflation: Relevance to New Partnership for Africa‚Äôs Development (NEPAD). Review of Applied Economics, 9 (1-2), pp. 61-81.
  • Sintim, H., Chakraborty, C. (2012). Uncertainty of Inflation and Inflation Rate in Emerging Economies: Does Credibility of Inflation Policy Matter?. Economic Issues (UK), 17 (part 2), pp. 95-110.
  • Sintim, H. (2010). Effect of Economic Recovery and Adjustment Policies on the Friedman-Ball Hypothesis and the Cointegration of Inflation and the Uncertainty of Inflation.. International Journal of Business and Economics, 10 (1), pp. 94-102.
  • Sintim, H., Chakraborty, C. (2010). Monetary Commitment and the Relationship between Exchange Rates and Relative Prices: Evidence from a Panel of Emerging Countries. International Research Journal for Finance and Economics, (39), pp. 97-104.
  • Sintim, H., Firoz, N. (2010). Real Growth and Inflation Volatility: Evidence from the Adjustment and Economic Recovery Program in Africa.. The Journal of the American Academy of Business, Cambridge, 15 (2), pp. 8-15.
  • Maghrabi, A., Firoz, N., Taghy, R., Waghdy, A., Sintim, H., Gunduz, M. (2009). ABC of Interest Free Banking. Conflict Resoulation & Negotiation, 2009 (4),
  • Sintim, H. (2008). Direct Taxes in Emerging Economies: Implications of a Measure of Effective Financial Opposition on Infllation.. International Research Journal for Finance and Economics, (13),
  • Sintim, H., Firoz, N. (2007). Is Interest Free, Interest Free:Islamic Finance and Banking. Business Journel for Entrepreneurs,
  • Sintim, H., Chakraborty, C. (2007). Purchasing Power Parity, Inflation and Central Bank Independence: A Panel Cointegration Test of Emerging Economies. Journal of American Academy of business, 10 (2), pp. 7-13.
  • Sintim, H. (2006). Developing Economies and Taxes: Implications of Turnover Rates on the Revenue-Smoothing Hypothesis. Journal of Industrial Business and Economics Research, 10 (1),
  • Sintim, H. (2006). Emerging Economies and Inflation Variability: A comparison of a Generalized Maximum Likelihood and SUR Models on the Influence of Central Bank Independence. Economic Change and Restructuring (Formally Economics of Planning), 38 (2),
  • Sintim, H. (2006). Implications of Economics Recovery and Structural Adjustment Programs on the Cointegration of Prices and Exchange Rates: Evidence in Sub-Saharan Africa.. Journal of International Business and Economics, 1V (1),
  • Sintim, H., Byykwaso, S. (2006). Inflation Uncertainty and Inflation: Implications of Adjustment and Recovery Programs in Sub-Saharan Africa.. Global Business & Finance Review, 11 (2),
  • Sintim, H. (2006). Inflation Variability, Central Bank Independence and Term Structure: A Simple Theoretical Examination. The Intermational Journal of Business Disciplines, 17 (2),
  • Sintim, H. (2006). Central Bank Independence, Inflation Variability and the Revenue Smoothing Hypothesis.. International Advances in Economic Research, 12 (2),
  • Firoz, N., Waghdy, A., Sintim, H. (2006). Transfer Pricing in the Global Marketplace. National Accounting Journal,
  • Sintim, H. (2006). Financial Opposition Index and Optimal Seignorage: Evidence from Emerging Economies.. Journal of American Academy of Business, Cambridge., (1), pp. 1.
  • Sintim, H. (2003). Central Bank Independence and Revenue Smoothing Hypothesis: Implications on Taxes. Review of Business Research, 1 (1),
  • Sintim, H. (2003). New Estimates on the Influence of Central Bank Independence on the Variability of Inflation: Implications on the Term Structure and Financial Markets.. Review of Business and Economics,

Books & Chapters Published

  • (2012). Neo-Liberalizarism, Interventionism and Developmental State: Implementing NEPAD. Trenton, New Jersey: African World Press.

Published Proceedings

  • Sintim, H. (2009). Firm size and industry effects on market reaction to changes in the prices of federal funds futures.. Crete: 16th Annual Conference of the Multinational Finance Society Conference.