SSST Professors


Dr. Amer Demirović

Dean of the Department of Economics


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  • Education: PhD in Finance, MSc in Finance, CQF (Certificate in Quantitative Finance) 
  • Publications: Two articles in referred journals 
  • Teaching experience: econometrics, statistics, accounting, finance 
  • Professional experience: corporate banking, corporate finance, civil service 
  • Research interest: credit risk, equity risk, performance measurement 


  • University of the West of England, Bristol, UK 
    • 2009 – 2013 
      • PhD in Finance 
      • Thesis title: The Interaction between Equity and Credit Risks ( 
    • 2008
      • MA in Public Administration Reform (with distinction)
  • The London School of Economics and Political Sciences 
    • 2005
      • Summer School in Advanced Econometrics 
  • Fitch/Wilmott 
    • 2005
      • Certificate in Quantitative Finance 
  • Cass Business School, City University, London, UK 
    • 2002-2003 
      • MSc in Finance (with distinction)
  • School of Economics, University of Sarajevo 
    • 1999-2002 
      • MSc in Economics 
    • 1995-1997 
      • BSc in Economics


  • Refereed Journals
    • Demirovic, A., Tucker, J., Guermat, C. (2015) Accounting data and the credit spread: An empirical investigation. Research in International Business and Finance, Vol. 34-C, p. 233-250. 
    • Demirovic A., Thomas, D.C. (2007) The relevance of accounting   data   in   the   measurement   of   credit   risk.   The European Journal of Finance, Vol. 13-3,  p. 253-268. 
  • Working Papers 
    • Demirovic A., Tucker, J., Guermat, C. (2015) Systematic and idiosyncratic equity risks as determinants of the credit spread. University of the West of England, Bristol Business School.
    • Demirovic A., Tucker, J., Guermat, C. (2014) The relationship between equity and bond returns: an empirical investigation. University of the West of England, Bristol Business School. 
  • Conferences / Research Seminars 
    • Demirovic, A. (May 2012) Equity Premium and the Credit Spread. The Center for Global Finance Staff Research Seminal 2011/2012. University of the West of England, Bristol Business School. 
    • Demirovic, A. (September 2010) Equity Volatility and Credit Risk. PhD Conference in Monetary and Financial Economics.  University of the West of England, Bristol Business School. 
    • Demirovic, A. (June 2010) The Relationship Between Equity Returns and Credit Spreads. Doctoral Student Symposium, University of the West of England, Bristol Business School. 
    • Demirovic, A. (October 2006) Efficiency and Causality between Equity Markets in Bosnia-Herzegovina and Croatia. International Conference of the School of Economics and Business in Sarajevo 2006 (ICES2006).
  • Research Projects / Policy Studies
    • Demirovic, A., Becirovic, A., Sabeta, R. (2010) Policy study: Meeting the EU membership requirements through a better performance management in courts. Open Society Fund Bosnia and Herzegovina, Policy Development Fellowship Program 2009-2010.
  • Magazines 
    • Demirovic, A. (January 2005) Is Sarajevo Stock Exchange Weak-Form Efficient? Banke u BiH, v8. 
    • Demirovic, A. (October 2004) The Structural Method for Assessment of Credit Risk of Companies Listed on the Sarajevo Stock Exchange. Banke u BiH, v7. 
    • Demirovic, A. (September 2004) The Credit Risk Relevance of Financial Statements in Bosnia and Herzegovina. Banke u BiH, v7. 


  • 2014 –    Sarajevo School of Science and Technology. Module leader: 1. Mathematical Methods for Economics, 2. Statistics, 3. Introduction to Econometrics, 4. Advanced Econometrics, 5.  Business Research Methods (MBA)
  • 2014. International University of Sarajevo. Module leader: 1. Managerial Accounting, 2. Financial and Managerial Accounting (MBA) 
  • 2008. University of the West of England, Bristol. Quantitative Research in Business (MBA), Financial Instruments (MBA)
  • 2006-2007. Sarajevo Graduate School of Business. Financial Management (Certificate in Accounting and Finance), Corporate Finance (MBA), Accounting for Investments (Executive Seminar), Investments and Capital Markets (Executive Seminar)


  • 2006 – 2015. Deputy Head of Budget and Statistic / Judicial Administration Department at the High Judicial and Prosecutorial Council of Bosnia and Herzegovina, responsible for judicial data collection/analysis, performance measurement and policy analysis. 
  • 2004 – 2005. Chief Financial Officer at Klas, Inc. Sarajevo, an executive board member and responsible for managing Accounting, Finance, Controlling and IT departments. 
  • 1997 – 2003. Lending Officer at Micro Enterprise Bank (now ProCredit Bank), USAID Business Finance and Hypo Alpe-Adria-Bank, responsible for corporate lending business development, credit analysis and credit portfolio management. 


  • Notable Computer Skills
  • Data: Datastream, CRISP, Compustat, Bloomberg 
  • Statistics and Econometrics: Eviews 
  • Other: Visual Basic for Applications, Wolfram Research Mathematica 
  • Notable Training Business Exchange Program sponsored by the U.S. Government: Credit Analysis, KeyBank, Cleveland, Ohio, July 2000 

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Hrasnička cesta 3a, Sarajevo, 71 000

Bosnia and Herzegovina

Entrance Exams are held at SSST, from April to September, starting at 9:00 a.m.

Contact us

Tel: +387 33 975 002

Fax: +387 33 975 030

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