School of Accounting, Economics and Finance

Professor Paul Francois Muzindutsi

Associate Professor

Telephone: 031 260 7871
Email: MuzindutsiP@ukzn.ac.za
Campus: Westville
Building & Room: J Block 3th Floor, Room 362

Biography:

Professor Paul-Francois Muzindutsi is an associate professor of Finance in the school of Accounting, Economics, and Finance. He has expertise in Financial Modelling, Financial Risk, Financial Markets, and Time Series. Professor Muzindutsi is actively involved in research, has published several peer-reviewed journal articles, and has presented research papers at local and international conferences. He is an assistant editor of the African Journal of Business and Economic Research (AJBER), a reviewer of various journals, and a member of scientific committees for local and international academic conferences. Professor Muzindutsi is also a member of the National Research Foundation (NRF) evaluation standing committee and a fellow member of the Pan-African Scientific Research Council (PASRC).

Professor Muzindutsi has extensive experience in lecturing undergraduate and postgraduate modules in Finance and Econometrics. He currently teaches Quantitative Finance, International Business Finance, Financial Management and Risk and Portfolio Management. Professor Muzindutsi has successfully supervised several PhD candidates and master’s students in the field of Finance and Economics. Professor Muzindutsi has occupied leadership positions at different higher learning institutions, including academic leadership and research coordination. He is passionate about student development and believes in teaching through motivation.

Academic Qualifications

  • B. Com- Economics and Finance (University of KwaZulu-Natal)
  • B. Com Honours- Finance (University of KwaZulu-Natal)
  • M.Com- Finance (University of KwaZulu-Natal)
  • PhD- Economics (North-West University)

Research Interests

  • Financial Modelling
  • Financial markets
  • Financial risk
  • Behavioural finance
  • Investment and Portfolio analysis
  • Time series analysis of macroeconomic variables
  • Development economics

Recent Publications and Papers

Recent Research Articles In Peer-Reviewed Journals
  • Muzindutsi, P.F., Mbili S., Molefe N., Ngcobo H., & Dube, F (In press). The JSE Size-Based Indices and Country Risk Components under Bullish and Bearish Market Conditions. International Journal of Economic Policy in Emerging Economies, Forthcoming.
  • Kunjal, D., Peerbhai, F. & Muzindutsi, P.F. (In press). The Performance of South African Exchange Traded Funds Under Changing Market Conditions. Journal of Asset Management, Forthcoming.
  • Muzindutsi, P.F., Rajhununan, S., Dube, M., Ganie, B., Mahess, E. & Reddy D. (In press). The effect of economic, financial and political country risk factors on the JSE mining index: An ARDL approach. International Journal of Trade and Global Markets, Forthcoming.
  • Muzindutsi, P.F., Zungu, Z, Khanyile, M., Dlamini, T., Sithole, A. & Obalade, A.A. (2021) Modelling Exchange Rate Movements in South Africa: An ARDL Application. International Journal of Monetary Economics and Finance,Forthcoming.
  • Kunjal D., Nyasha, J., Ghisyan, A., Govender, P.J., Murugasen, S., Naidoo, P., Patel, D.S. & Muzindutsi, P.F. (2021). The Effect of Managerial Overconfidence on Firm Value: Evidence from the Johannesburg Stock Exchang Management and Economics Review, Vol. 6.
  • Muzindutsi, P.F. & Mposelwa, S. (2021) A Comparative Analysis of the Expectations Hypothesis of the Term Structure of Interest Rates between the BRICS and G7 Countries. Comparative Economic Research. Central and Eastern Europe, 24(2), 41-56. https://doi.org/10.18778/1508-2008.24.13.
  • Apau, R., Muzindutsi, P.F. & Moores-Pitt, P.B.D (2021). Mutual fund flow-performance dynamics under different market conditions in South Africa. Investment Management and Financial Innovations, 18 (1), 236-249.
  • Obalade A.A. & Muzindutsi, P.F. (2021) Are African Stock Returns Significantly Different over Time? Rolling ANOVA Tests. Journal of Developing Areas (JDA), 55(2), 131-145.
  • Chipunza, K. J., Muguto, H. T., Muguto, L., & Muzindutsi, P. F. (2020). Stock Returns and Valuation Ratios at Sector Level in South Africa: The Regime-switch Modelling Approach. Global Business Review, https://doi.org/10.1177/0972150920976641.
  • Gaston R.T., Obalade, A.A & Muzindutsi P.F. (2020) Financial Crisis and Return Volatility of the JSE General Mining Index: GARCH Modelling Approach. The Journal of Accounting and Management, 10 (3).
  • Muzindutsi, P.F. & Obalade, A.A. (2020) Effects of Country Risk Shocks on the South African Bond Market Performance Under Changing Regimes. Global Business Review, https://doi.org/10.1177/0972150920951116.
  • Sgammini, M., & Muzindutsi, P.F. (2020). Effect of Exchange Rate Movements on the Performance of Investment Portfolios in South Africa. International Journal of Economics and Finance, Vol. 12(2), 469-486.
  • Chipunza, K. J., Muguto, H. T., Muguto, L., & Muzindutsi, P.F. (2020). Return predictability and valuation ratios: sector-level evidence on the Johannesburg stock exchange. Cogent Economics & Finance, Vol. 8(1). https://doi.org/10.1080/23322039.2020.1817252.
  • Muzindutsi, P.F., Jamile, S., Zibani, N. & Obalade, A.A. (2020) The effects of political, economic and financial components of country risk on housing prices in South Africa. International Journal of Housing Markets and Analysis, Vol. 13(4). https://doi.org/10.1108/IJHMA-05-2020-0060.
  • Oyetade, D., Obalade, A.A. & Muzindutsi, P.F. (2020). Impact of the Basel IV framework on securitization and performance of commercial banks in South Africa. Banks and Bank Systems, 15(3), 95-105.
  • Obalade, A.A. & Muzindutsi, P.F. (2020) Static or adaptive? The month-of-the-year and intra-month effects in African stock markets. International Journal of Monetary Economics and Finance, Vol. 13 (3), 215-234.
  • OBALADE, A.A. & Muzindutsi, P.F. (2020) Validating the Adaptive Market Hypothesis in the Tunisian Stock Market. International Journal of T Trade and Global Markets, 13(1), 42-51.
  • Vengesai, E., & Muzindutsi, P.F. (2020) Effect of Disaggregated Country Risk Shocks on Financing Decisions of the JSE listed Firms. International Journal of Economics and Finance Studies, 12 (1) 32-49.
  • Nhlapho R.N. & Muzindutsi, P.F. (2020) The Impact of Disaggregated Country Risk on the South African Equity and Bond Market. International Journal of Economics and Finance Studies, 12 (1) 189-203.
  • Obalade, A.A., & Muzindutsi, P.F. (2019). Calendar Anomalies, Market Regimes, and the Adaptive Market Hypothesis in African Stock Markets. Central European Management, Vol. 27(4), 71–94.
  • Vengesai, E., & Muzindutsi, P.F. (2019). Country Risk Components and Firm Investment Behaviour of JSE Listed Firms. The Journal of Accounting and Management, 9(2), 35-44.
  • Obalade, A.A., & Muzindutsi, P. (2019). Time Varying Calendar Anomaly in African Stock Markets: Application of GARCH Models. Journal of Global Business and Technology, Vol. 9 (15), 1-15.
  • Rupande, L., Muguto, H.T. & Muzindutsi, P.F. (2019). Investor sentiment and foreign financial flows: Evidence from South Africa. Proceedings of Rijeka Faculty of Economics, 37 (2), 473-498.
  • Obalade, A.A. & Muzindutsi, P.F. (2019). Adaptive Market Hypothesis and Day-Of-The-Week Effect In African Stock Markets: Markov Switching Model. Comparative Economic Research, 22(3), 145-162.
  • Rupande, L., Muguto, H.T. & Muzindutsi, P.F. (2019). Investor Sentiment and Volatility: Evidence from the Johannesburg Stock Exchange. Cogent Economics & Finance, Vol. 7. https://doi.org/10.1080/23322039.2019.1600233.
  • Akinwale, Y.O. & Muzindutsi, P.F. (2019). Electricity consumption, trade openness and economic growth in South Africa: An ARDL approach. Journal of Economic Cooperation & Development, 40 (1), 135-156.

Recent Conference Presentations

  • Muzindutsi, P.F., Mbili S., Molefe N., Ngcobo H., & Dube, F. (2021). The JSE Size-Based Indices and Country Risk Components under Bullish and Bearish Market Conditions. Presented at: SIBR 2021 (Tokyo) Conference on Interdisciplinary Business.
  • Muzindutsi, P.F., Rajhununan, S., Dube, M., Ganie, B., Mahess, E. & Reddy D. (2020). Disaggregated Country Risk and the JSE Mining Index: An ARDL Approach. Presented at 2020 (Sydney) Conference on Interdisciplinary Business and Economics Research, 10th-11th January 2020, Sydney, Australia.
  • Obalade, A.A. & Muzindutsi, P.F. (2019) Static or Adaptive? The Month-Of-The-Year and Intra-Month Effects in African Stock Markets. Presented at SIBR Hong Kong 2018 Conference on Interdisciplinary Business and Economics Research, September 28 – 29, 2019, Hong Kong.
  • Vengesai, E., Rupande, L., Muguto, H.T. & Muzindutsi, P.F. (2019) Country risk and the interaction between gold price and gold index return volatilities: Evidence from the South African market. Presented at SIBR Hong Kong 2018 Conference on Interdisciplinary Business and Economics Research, September 28 – 29, 2019, Hong Kong.
  • Gaston R.T. & Muzindutsi P.F. (2019) Financial Crisis and Return Volatility of the JSE General Mining Index: GARCH Modelling Approach. Presented at the 21st Global Business And Technology Association (GBATA) Annual International Conference, July 9-13th, 2019, Paris, France.
  • Obalade, A.A. & Muzindutsi, P.F. (2019). Long-run and Short-Run Effects of Components of Country Risk on Bond Yield Spreads in South Africa. Presented at the International Academic Conference on Management, Economics and Marketing (IAC-MEM), Vienna, Austria.
  • Aboluwodi, D. & Muzindutsi, P.F. (2019). Analysis of Efficiency, Performance and Sustainability of Real Estate Investment Trusts in South Africa. Presented at Biennial Conference of the Economic Society of South Africa (ESSA), 3 – 5 September 2019, Johannesburg, South Africa.
  • Oyetade, D. & Muzindutsi, P.F. (2019). The impact of changes in Basel Capital Requirements on Bank Values and Financial Performance in South Africa. Presented at Biennial Conference of the Economic Society of South Africa (ESSA), 3 – 5 September 2019, Johannesburg, South Africa.

 

Research links:

Scopus: https://www.scopus.com/authid/detail.uri?authorId=55918884700