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Fouad Moussa

DBA Graduate - 2013

Supervisor(s)

Francois Desmoulins-Lebeault

Dr. Moussa holds a bachelor of commerce in economics from Alexandria University, a MA in economics and finance from Virginia State University, a MS in financial economics from the University of New Orleans, a certificate of research in management science from Grenoble Ecole de Management, and a DBA in finance from Grenoble Ecole de Management. He has taught graduate and undergraduate finance courses and has authored and co-authored published journal articles.

This study investigates the effect of outsourcing contract announcement on the value of the contract granting firm (Outsourcing firm). Our results are based on a sample of 71 publicly traded firms that outsourced parts of their operations between 1990 and 2011. Results Obtained are consistent with the previous research. The study contributes to the outsourcing research by empirically investigating the effect of outsourcing contract announcement on the value of the contract receiving firms. Results are therefore, based on a sample of 53 publicly traded firms that received outsourcing contracts between 1990 and 2011. Results show statistically significant evidence that there is positive market reaction to the announcement of receiving outsourcing contract.Evidences have shown that previous research did not give attention to the firm’s financial characteristics, and determine whether other financial characteristics influenced the market to react differently to outsourcing announcements. This research further extends the previous research by investigating additional firm’s financial characteristics that may impact the market reaction to outsourcing announcement. It equally uses a sample that covers a longer time period, 1990 to 2011, to investigate the impact of both outsourcing contract granting firms’ financial characteristics and outsourcing contract receiving firms’ financial characteristics on the magnitude of the market returns.