The College of Banking & Financial Studies (CBFS) hosted Professor David Hillier, Vice Dean, Strathclyde Business School, Department of Accounting & Finance on 27th June2013. He was welcomed by Dr. Ahmed Al Ghassani, Dean of the College who appreciated the University’s role in the College’s progress towards the Vision 2020. They discussed modalities of furthering their long enduring partnership. The College of Banking & Financial Studies (CBFS) established in 1983 has been managing the MBA Programme since 2001 in partnership with the University of Strathclyde. Strathclyde was named the University of the Year in U.K. at the Times Higher Education Awards 2012. The partnership attempted to provide excellent and high quality education in Oman.
Prof. David also spoke to an invited audience comprising of Alumni. Bankers, Accounting professionals and interested public on the topic “The Psychology of Finance: Impact on Oman”. He said his research work was an attempt to understand and explain how cognitive or reasoning errors inﬂuenced ﬁnancial reporting and management decisions.
Prof David’s research had indicated that psychological biases in finance included characteristics such as salience and vividness, a tendency to blame others and an eagerness to self attribute credit. He said that there was always an inclination at the social level to avoid loss. This anxiety has arguably contributed to regulatory innovations, the evolution of corporate governance and new bank risk management requirements. Prof David welcomed the new trends in the financial sector in Oman such as the introduction of Islamic banking. He also spoke positively about the trend towards diversification in the Oman economy,
Professor David Hillier is an author of several books and other publications in the field of finance, corporate governance and accounting, including “Fundamentals of Corporate Finance”. He is also on the editorial board of several finance and accounting journals. Professor Hillier’s professional clients include the World Bank and the UK National Health Service.