Professeur associé
  • Department Finance
  • Areas of research Corporate Governance, Financial Reporting, Market Liquidity and Financial Economics.
  • Teaching fields Principles of Accounting, International Accounting, IFRS, Advanced Accounting, Budgeting & Cost Accounting, Financial Analysis, Corporate Finance, Treasury Management


Dr Majdi Karmani is an Associate Professor in Finance, and has been Deputy Head of the Finance Department since 2014 at Excelia Business School.

He obtained his Master Degree in Management from IAE Bordeaux at the University of Bordeaux, followed by a Doctorate in Management Science from the same University. His fields of expertise include Financial Accounting, International Accounting, Corporate Governance and Corporate Finance, subjects which he teaches across the different undergraduate and postgraduate programs offered by the Group.

Before joining Excelia Business School in 2012, as Assistant Professor, Dr Karmani also worked at the Universities of Bordeaux and La Rochelle.

His main research activities are related to Financial Reporting, Corporate Governance, Market Liquidity and Financial Economics. He is the author of several articles published in peer-reviewed journals.


Karmani, M., & Ali Uyar, Cemil Kuzey, Merve Kilic & Chadi Yaacoub (2021) Does governance quality explain the sustainability reporting tendency of the public sector? Worldwide evidence, International Journal of Public Administration, DOI: 10.1080/01900692.2021.1900243

Karmani, M., & Boussaada, R,. (2021). Corporate social responsibility and firm performance: does institutional quality matter?. Journal of Applied Accounting Research.

Karmani, M., & Hakimi, A. Boussaada, R,. (2020). Is the relationship between corruption, government stability and non‐performing loans non‐linear? A threshold analysis for the MENA region. 1– 16. International Journal of Finance and Economics.

Karmani, M., & Boussaada, R, Hakimi, A. (2020). Is there a threshold effect in the liquidity risk–non‐performing loans relationship? A PSTR approach for MENA banks. International Journal of Finance and Economics. 2020; 1– 13.

Karmani, M., & Inglesi-Lotz, R., Hakimi, A., Boussaada, R. (2020). Threshold effects in the patent-growth relationship: a PSTR approach for 60 developed and developing countries. Applied Economics, 1-13.

Karmani, M., & Hakimi, A., Boussaada, R. (2019). External Debt, Investment, and Economic Growth. Journal of Economic Integration, 34(4), 725-745.

Karmani, M., & A.HAMROUNI, R.BEN KRAIEM, "Voluntary information disclosure and sell-side analyst coverage intensity ", Review of Accounting and Finance, 2017, vol. 16, no. 2, pp. 260-280

Karmani, M., & N.BEN ARFA, D.LABARONNE, "Antecedents of hedge fund activism in French listed target firms", Research in International Business and Finance, December 2017, vol. 2017, no. 42, pp. 1315-1326

Karmani, M., & A.AJINA, B.MSOLLI, "A la recherche de liquidité : la gouvernance au coeur du marché financier", La Revue du Financier, September 2015, vol. 37, no. 215-216, pp. 19-39

Karmani, M., & A.AJINA, R.BOUSSAADA, "An Investigation Of The Relation Between Corporate Governance And Liquidity: Empirical Evidence From France", Journal Of Applied Business Research, March-April 2015, vol. 32, no. 2, pp. 632-646

Karmani, M., & BOUSSAADA, R., "Did Board of Directors have an Impact on MENA Bank Performance?", International Journal of Economics and Finance, 2015, vol. 7, no. 4, pp. 46-56

Karmani, M., & R.BOUSSAADA, "Ownership concentration and bank performance: Evidence from MENA banks", International Journal of Business and Management, 2015, vol. 10, no. 3, pp. 189-202

Karmani, M., & A.AJINA, A.HABIB, "La gouvernance d'entreprise et la divulgation d'informations des entreprises Françaises" in Forum financier - Revue Bancaire et financière., Bank en Financiewezen Revue bancaire et financière, 2013, vol. 2013, no. 1.