Prof Thorsten Beck’s Memorial Lecture as Chair of Tun Dr Ismail Ali

Bank Negara Malaysia and the University of Malaya extended an invitation to SUBS of the Sunway University to hold one of the series of annual lectures in honour of the late Tun Dr Ismail Ali ( who was the Governor of the BNM during 1962-1980. The memorial lectures are held annually to celebrate the life and times of a prominent personality during the formation years of Malaysia.

The Department of Economics and Finance is pleased to take up the invitation and host Professor Thorsten Beck at the SU: http:/// The lecture on Nascent Stock Markets of the World and was delivered on 3 May 2018 by Beck with 77 attending the talk. Beck is a member of the CASS Business School, City, The University of London as professor of finance. The speaker is a world-renowned economist ranked by the RePEc as being among the top 1% scholars with a H-index count of 19. He worked at the famous Tilburg University for some six years before joining the City University. He was at the World Bank for 11 years prior to joining the academia. His area of continuing research interest are: banking; corporate finance; financial services; access to finance. DEF staff could contact him for advice and opinion on research. He has agreed to do so if staff could email him at   

Professor Mohamed Ariff, Professor Thorsten Beck and Dr Nur Ain Shahrier

The paper delivered yesterday is an original piece of work that links the development of nascent stock markets. There are some 59 of them that grew since 1975, and were found to be successful if the country in which the stock market was formed already had well-developed banking institutions for effective intermediation. Those often small markets within small economies have been ignored by researchers, hence, this paper illuminates the conditions for success of a stock market to be developed by identifying the conditions for growing stock markets. Obviously, those other markets that are in developed and emerging economies have grown to be successful following the path these 59 newcomers to the capital markets are taking over the last 45 years. This paper is a great contribution to the aetiology of capital markets. Those who attended the talk would appreciate the contribution that Professor Beck is making to Finance discipline in his memorial lecture at the SU.

The faculty is appreciative of the contribution made by the current chair-holder of the Tun Dr Ismail Ali chair. DEF records its gratitude to the many people at the BNM and at the University of Malaya (Dr Tang) for working with Dr Nur Ain and other staff of DEF to make this event successful at the SU.