Dr Jose Linares Zegarra
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Email
jmlina@essex.ac.uk -
Location
Colchester Campus
Profile
Biography
Jose Manuel joined Essex Business School in 2015. He holds a PhD from the University of Granada (Spain). Jose is also a Honorary Senior Lecturer at University of St Andrews and a Fellow of the Higher Education Academy (FHEA). Previously, he has held visiting teaching/research positions at the Federal Reserve Bank of Boston, University of St Andrews, University of Alicante, University of Illinois, Florida State University and the Institute of European Finance (Bangor University, UK). His academic career combines both teaching and research in economics, banking and finance. He has been researcher for the Spanish Savings Banks Foundation and has also participated in projects related to the banking industry for the Spanish Ministry of Science and Innovation, the Andalusian Autonomous Government and several financial institutions. In recent years, Jose Manuel has carried out various empirical studies in retail payments and consumer finances. He has published articles in journals such as the European Journal of Finance, Journal of Banking & Finance, Journal of Financial Services Research, Review of Network Economics, Social Science and Medicine, British Accounting Review and Economics Letters.
Qualifications
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PhD in Economics and Business (Doctor Europaeus) University of Granada,
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BSc Economics University of Granada,
Appointments
University of Essex
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Senior Lecturer in Finance, Essex Business School (1/10/2017 - present)
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Postgraduate Taught (PGT) Programme Director, Finance MSc programmes, Essex Business School (1/8/2021 - present)
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Postgraduate Taught (PGT) Admissions Selector, Finance MSc programmes, Essex Business School (1/8/2021 - present)
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Lecturer in Finance, Essex Business School (1/2/2015 - 30/9/2017)
Other academic
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External Examiner for the MSc and PG Diplomas in Financial and Management Studies, Centre for Financial and Management Studies, University of London (1/6/2021 - present)
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External Examiner for the MSc in Banking Practice and Management, The London Institute of Banking & Finance (1/10/2016 - 31/12/2020)
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External Examiner for MSc Global Finance, Bayes Business School, University of London (1/10/2024 - present)
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Affiliated researcher - Centre for Responsible Banking and Finance (RBF), University of St Andrews (1/3/2012 - present)
Research and professional activities
Research interests
Payments Economics
Consumer and household finance
Banking
SMEs finance
Microfinance and financial inclusion
Entrepreneurial finance and Fintech
Conferences and presentations
Individual's Cognitive Ability and Investment Choices
The 13th International Conference of the Financial Engineering and Banking Society (FEBS 2024), 21/6/2024
The impact of Brexit on the internationalisation, innovation and turnover of UK SMEs: Implications for the UK industrial strategy the 'levelling up' agenda
Invited presentation, ERC/Department for Business and Trade joint Longitudinal Small Business Survey (LSBS) Dissemination Event, 16/11/2023
SMEs as Social Enterprises: Regional Disparities, Access to Finance, Strategic Intentions, and the COVID-19 Pandemic
Invited presentation, ERC-BEIS Longitudinal Small Business Survey Dissemination Event, 10/10/2022
Local Public Corruption and Corporate Debt Concentration: Evidence from US firms
Essex Finance Centre (EFiC) 2022 Conference in Banking and Finance, 7/7/2022
Fintech lending and open banking: Recent innovations in SME finance
Fintech: Finance, Technology, Policy and Law Workshop, Business, Law and Technology Interdisciplinary Hub, Colchester, United Kingdom, 23/3/2022
Local Corruption and Corporate Debt Structure: Evidence from US firms
Invited presentation, CRBF Virtual Seminar Series, 6/11/2020
The Size and Growth of Microfinance Institutions
Public Services and Charities: Accounting, Accountability and Governance at a Time of Change, 18/1/2017
Are there social spillovers? Security Assessments of Payment Instruments
International Conference on Applied Research in Economics, 16/9/2016
Are there social spillovers? Security Assessments of Payment Instruments
Annual Conference of the European Association of University Professors in Banking and Finance, 31/8/2016
Payments and Consumer Security’
Invited presentation, Big Data Methodologies and Technologies in Financial Services, 27/4/2016
The Effects of Cultural and Institutional Factors on the Diffusion of Payment Cards
Wolpertinger Conference, 5/9/2015
The Diffusion of Technology: Retail Payment Cards in Developed and Developing Countries
BAFA Annual Conference, Manchester, United Kingdom, 24/3/2015
Consumer Payment Choice: Do Identity Theft and Consumer’s Security Perceptions Really Matter?
Invited presentation, Finest Summer Workshop, 2/7/2014
‘Consumer Payment Choice: Do Identity Theft and Consumer’s Security Perceptions Really Matter?
Invited presentation, EBS Finance Centre, 14/5/2014
The Impact of Interchange Fee Regulation in Europe
Invited presentation, Inaugural Conference on Ethics, Sustainability and Accountability (ESA), 15/7/2013
Risk Based Pricing in the Credit Card Industry: Evidence from US Survey Data
49th BAFA Annual Conference, 10/4/2013
Risk Based Pricing in the Credit Card Industry: Evidence from US Survey Data
3rd Emerging Scholars in Banking and Finance, 11/12/2012
Consumer Payment Choice: Do Identity Theft and Consumer’s Security Perceptions Really Matter?
Invited presentation, Computer Laboratory Security Group meeting presentations, Cambridge, United Kingdom, 15/6/2012
Consumer Payment Choice: Do Identity Theft and Consumer’s Security Perceptions Really Matter?
Royal Economic Society (RES) Annual Meeting, Cambridge, United Kingdom, 26/3/2012
The impact of interchange fee regulation in Europe
XXXVI Simposio de la Asociación Española de Economía-Spanish Economic Association (SAEe), Málaga, Spain, 15/12/2011
Consumer Payment Choice: Do Identity Theft and Consumer’s Security Perceptions Really Matter?
1st Centre for Responsible Banking and Finance (RBF) Con, 29/11/2011
‘The impact of interchange fee regulation in Europe’ & ‘Price structure and willingness to pay in network industries: Evidence from payment cards
9th International Industrial Organization Conference, 9/4/2011
Price structure and willingness to pay in network industries: Evidence from payment cards
Payment Markets: Theory, Evidence and Policy, 21/6/2010
The impact of interchange fee regulation in Europe
XIII Applied Economics Meeting, 10/6/2010
‘Price structure and willingness to pay in network industries: Evidence from payment cards
Invited presentation, Department of Economics – FAE I. Complutense University of Madrid, 1/6/2010
How effective are rewards programs in promoting payment card usage? Empirical evidence
Invited presentation, Institut Universitari de Desenvolupament Social i Pau, Alicante, Spain, 24/3/2010
‘How effective are rewards programs in promoting payment card usage? Empirical evidence
XXXVI Simposio de la Asociación Española de Economía-Spanish Economic Association (SAEe), Valencia, Spain, 11/12/2009
The impact of interchange fee regulation in Europe
Finance Forum XVII - Spanish Finance Association, 4/11/2009
How effective are rewards programs in promoting payment card usage? Empirical evidence
European Association for Research in Industrial Economics, 5/9/2009
How effective are rewards programs in promoting payment card usage? Empirical evidence
Invited presentation, European Central Bank/De Nederlandsche Bank conference ‘Retail payments: integration & innovation’, 25/5/2009
How effective are rewards programs in promoting payment card usage? Empirical evidence
7th International Industrial Organization Conference, Boston, United States, 4/4/2009
Market power and willingness to pay in network industries: Evidence from payment cards within multiproduct banking’
XXXII Simposio de Análisis Económico, Granada, Spain, 13/12/2007
Teaching and supervision
Current teaching responsibilities
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Introduction to Banking (BE610)
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Banking Theory and Practice (BE650)
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Dissertation (BE982)
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Dissertation in Finance (BE989)
Previous supervision
Degree subject: Finance
Degree type: Doctor of Philosophy
Awarded date: 2/8/2024
Degree subject: Finance
Degree type: Doctor of Philosophy
Awarded date: 18/6/2024
Degree subject: Finance
Degree type: Doctor of Philosophy
Awarded date: 8/1/2021
Publications
Journal articles (37)
Duxbury, D., Linares Zegarra, JM. and Verousis, T., (2025). Consumer financial literacy and habitual behaviour as drivers of contactless payment ownership. European Journal of Finance, The, 1-18
Baltas, K. and Liñares-Zegarra, J., (2024). Efficiency and Financial Risk Management Practices of Microfinance Institutions. International Journal of Finance and Economics. 30 (2), 1011-1031
Bermpei, T. and Linares Zegarra, J., (2024). Local Public Corruption and Corporate Debt Concentration: Evidence from US firms. The European Journal of Finance. 30 (15), 1703-1727
Linares Zegarra, J. and Wilson, JOS., (2024). Access to Finance for UK Social Enterprises. The European Journal of Finance. 30 (15), 1757-1784
Kazembalaghi, S., Coakley, J., Liñares-Zegarra, JM. and Vismara, S., (2024). Digital equity and government support during COVID-19. Small Business Economics. 64 (4), 1679-1705
Linares Zegarra, J. and Wilson, JOS., (2023). Navigating Uncertainty: The Resilience of Third Sector Organizations and Socially-oriented SMEs during the COVID-19 Pandemic. Financial Accountability and Management. 40 (3), 282-307
Coakley, J., Lazos, A. and Liñares-Zegarra, JM., (2022). Seasoned equity crowdfunded offerings. Journal of Corporate Finance. 77, 101880-101880
Coakley, J., Lazos, A. and Linares Zegarra, J., (2022). Equity crowdfunding founder teams: Campaign success and venture failure. British Journal of Management. 33 (1), 286-305
Coakley, J., Lazos, A. and Liñares-Zegarra, J., (2022). Strategic entrepreneurial choice between competing crowdfunding platforms. The Journal of Technology Transfer. 47 (6), 1794-1824
Brown, R., Linares Zegarra, J. and Wilson, JOS., (2022). Innovation and Borrower Discouragement in SMEs. Small Business Economics. 59 (4), 1489-1517
Liñares-Zegarra, JM. and Willesson, M., (2021). The effects of negative interest rates on cash usage: Evidence for EU countries. Economics Letters. 198, 109674-109674
Brown, R., Liñares-Zegarra, J. and Wilson, JOS., (2019). Sticking it on Plastic: Credit Card Finance and Small and Medium Sized Enterprises in the UK. Regional Studies. 53 (5), 630-643
Brown, R., Liñares-Zegarra, J. and Wilson, JOS., (2019). The (Potential) Impact of Brexit on UK SMEs: Regional Evidence and Public Policy Implications. Regional Studies. 53 (5), 761-770
Bouslah, K., Liñares-Zegarra, J., M'Zali, B. and Scholtens, B., (2018). CEO risk-taking incentives and socially irresponsible activities. British Accounting Review. 50 (1), 76-92
Liñares-Zegarra, J. and Wilson, JOS., (2018). The Size and Growth of Microfinance Institutions. The British Accounting Review. 50 (2), 199-213
Kahn, CM., Liñares-Zegarra, J. and Stavins, J., (2017). Are there Social Spillovers in Consumers’ Security Assessments of Payment Instruments?. Journal of Financial Services Research. 52 (1-2), 5-34
Kahn, CM. and Liñares-Zegarra, J., (2016). Identity Theft and Consumer Payment Choice: Does Security Really Matter?. Journal of Financial Services Research. 50 (1), 121-159
Clayton, M., Liñares-Zegarra, J. and Wilson, JOS., (2015). Does debt affect health? Cross country evidence on the debt-health nexus. Social Science and Medicine. 130 (C), 51-58
Liñares-Zegarra, J. and Wilson, JOS., (2014). Credit card interest rates and risk: new evidence from US survey data. The European Journal of Finance. 20 (10), 892-914
Carbó-Valverde, S., Liñares-Zegarra, J. and Rodríguez-Fernández, F., (2012). Feedback Loop Effects in Payment Card Markets: Empirical Evidence. Review of Network Economics. 11 (2)
Carbó-Valverde, S. and Liñares-Zegarra, J., (2011). How effective are rewards programs in promoting payment card usage? Empirical evidence. Journal of Banking & Finance. 35 (12), 3275-3291
Linares Zegarra, J., (2010). Sustitución de efectivo por tarjetas: el papel de los programas de incentivos. Perspectivas del Sistema Financiero. 97, 83-92
Linares Zegarra, J., (2009). Adopción y uso de medios de pago electrónicos en Europa. Cuadernos de Información Económica. 213, 69-79
Carbó, S., Humphrey, D., Linares Zegarra, J. and Rodríguez, F., (2008). A cost-benefit analysis of a two-sided card market. Moneda y Crédito. 227, 7-36
Carbó, S., Linares Zegarra, J. and Rodríguez, F., (2008). El ahorro financiero de las familias españolas: previsiones para 2008. Cuadernos de Información Económica. 206, 43-49
Carbó, S., Linares Zegarra, J. and Rodríguez, F., (2008). Las operaciones fuera de balance: definición y clasificación. Perspectivas del Sistema Financiero. 92, 1-8
Linares Zegarra, J., (2007). Ratios fundamentales de las pymes españolas. Perspectivas del Sistema Financiero. 90, 83-111
Carbó, S., Linares Zegarra, J. and Rodríguez, F., (2007). PYME y financiación: un marco conceptual. Perspectivas del Sistema Financiero. 90, 11-20
Carbó, S., Linares Zegarra, J. and Rodríguez, F., (2007). El nuevo marco monetario y el comportamiento de los tipos de interés. Papeles de Economia Espanola. 111, 216-239
Delgado, B. and Linares Zegarra, J., (2007). Indicadores de la arquitectura financiera, ambiente institucional y legal de los sistemas financieros: Una perspectiva mundial. Papeles de Economia Espanola. 110, 290-325
Carbó, S. and Linares Zegarra, J., (2006). El ahorro financiero familiar: evolución reciente y previsiones para 2006. Cuadernos de Información Económica. 194, 19-26
Linares Zegarra, J. and Rodríguez, F., (2006). Inmigrantes, emprendedores y servicios bancarios. Perspectivas del Sistema Financiero. 86, 95-109
Carbó, S., Linares Zegarra, J. and Rodríguez, F., (2006). Valoración y perspectivas del ‘Acuerdo Marco Regulador de la Fijación de las Tasas de Intercambio en Transacciones con Pago mediante Tarjetas de Débito y Crédito. Cuadernos de Información Económica. 190, 125-130
Carbó, S. and Linares Zegarra, J., (2005). Cajas de ahorros, tecnología e inclusión financiera. Cuadernos de Información Económica. 188, 105-112
Carbó, S., Linares Zegarra, J. and Mendoza, J., (2005). ¿Hacia dónde se dirige la banca europea?’. Cuadernos de Información Económica. 187, 98-106
Carbó, S., Linares Zegarra, J., López del Paso, R. and Rodríguez, F., (2004). El sistema financiero Español: más mercados y más instrumentos. Cuadernos de Información Económica. 189, 83-90
Carbó, S. and Linares Zegarra, J., (2004). La financiación en el mercado de la vivienda: El papel de las cajas de ahorros. Cuadernos de Información Económica. 183, 95-104
Book chapters (1)
Carbó, S. and Linares Zegarra, J., (2005). Implicaciones, conclusiones y perspectivas de futuro del microcrédito en España. In: Libro Blanco del Microcrédito. 84-89116-23-7
Reports and Papers (23)
Kazembalaghi, S., Coakley, J., Liñares-Zegarra, JM. and Vismara, S., (2024). Responses to COVID-19: The Role of Digital Equity and Government Loan Schemes
Wilson, JOS. and Linares Zegarra, J., (2023). The impact of Brexit on the internationalisation, innovation and turnover of UK SMEs: Implications for the UK’s industrial strategy and the ‘levelling up’ agenda
Linares Zegarra, J. and Wilson, JOS., (2022). SMEs as Social Enterprises: Regional Disparities, Access to Finance, Strategic Intentions, and the COVID-19 Pandemic
Linares Zegarra, J. and Wilson, J., (2022). Gender, Ethnicity, and Access to Finance: Evidence for UK Social Enterprises
Linares Zegarra, J. and Wilson, J., (2022). Gender, Ethnicity, and Access to Finance: Evidence for UK Social Enterprises.
Linares Zegarra, J. and Wilson, J., (2022). Policy Briefing: SMEs as Social Enterprises: Regional Disparities, Access to Finance, Strategic Intentions, and the COVID-19 Pandemic
Linares Zegarra, J. and Wilson, J., (2022). Policy Briefing: Gender, Ethnicity, and Access to Finance: Evidence for UK Social Enterprises
Brown, R., Linares Zegarra, J. and Wilson, J., (2020). Innovation and Borrower Discouragement in SMEs
Brown, R., Liñares-Zegarra, JM. and Wilson, JOS., (2018). What Happens If the Rules Change? The Impact of Brexit on the Future Strategic Intentions of UK SMEs
Brown, R., Linares Zegarra, J. and Wilson, J., (2018). Discouraged Borrowers: Measurement, Determinants and Impact
Brown, R., Linares Zegarra, J. and Wilson, J., (2018). An empirical examination of discouraged borrowers in the UK
Wilson, J., Linares Zegarra, J. and Brown, R., (2018). Policy Briefing: An empirical examination of discouraged borrowers in the UK
Brown, R., Linares Zegarra, J. and Wilson, J., (2018). The (Potential) Impact of Brexit on UK SMEs: Regional Evidence and Public Policy Implications
Linares Zegarra, J. and Wilson, J., (2017). Future Issues in Unsecured Consumer Debt
Brown, R., Linares Zegarra, J. and Wilson, J., (2017). Sticking it on Plastic: The Spatial Dynamics of Credit Card Finance in UK Small and Medium Sized Enterprises
Kahn, C., Linares Zegarra, J. and Stavins, J., (2016). Are There Social Spillovers in Consumers’ Security Assessments of Payment Instruments?
Clayton, M., Liñares-Zegarra, J. and Wilson, JOS., (2014). Can Debt Affect Your Health? Cross Country Evidence on the Debt-Health Nexus
Kahn, C. and Linares Zegarra, J., (2014). Identity Theft and Consumer Payment Choice: Does Security Really Matter?’
Carbo-Valverde, S. and Liñares-Zegarra, J., (2012). Payment Card Interchange Fees: Assessing the Effectiveness of Antitrust Investigations and Regulation in Europe
Linares Zegarra, J., (2012). Risk Based Pricing in the Credit Card Industry: Evidence from US Survey Data
Carbó, S. and Linares Zegarra, J., (2009). How Effective are Rewards Programs in Promoting Payment Card Usage? Empirical Evidence
Carbó, S., Humphrey, D., Linares Zegarra, J. and Rodríguez, F., (2008). A cost-benefit analysis of a two-sided card market
Carbó, S., Linares Zegarra, J. and Rodríguez, F., (2007). Market power and willingness to pay in network industries: evidence from payment cards within multiproduct banking
Other (1)
Linares Zegarra, J. and Wilson, JOS., (2025).Financial and Strategic Challenges Faced by Women-Led SMEs in the UK (Written evidence submitted to the UK Parliament’s Women and Equalities Committee as part of its inquiry into Female Entrepreneurship)
Grants and funding
2025
Technology Adoption and Productivity: Evidence for UK SMEs
Enterprise Research Centre
2023
The impact of Brexit on the internationalisation, innovation and turnover of UK SMEs: Implications for the UK�s industrial strategy the 'levelling up' agenda
Enterprise Research Centre
2021
SMEs as Social Enterprises: Regional Disparities, Access to Finance and the COVID-19 Pandemic
Enterprise Research Centre
2018
An Empirical Examination of Discouraged Borrowers in the UK
ERC via St Andrews University
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