Menu

Search

Alan Gregory

Alan Gregory

Alan Gregory is a Professor of Corporate Finance. Prior to taking up this position, he held professorial positions at both the University of Wales, Aberystwyth, and the University of Glasgow. In addition to his position at Exeter, he was a full panel member of the Competition Commission for two successive for year terms until September 2009 and is now External Advisor to the Commission‘s Finance and Regulation Group.

His consulting experience includes acting as advisor to one of the largest accounting firms on a number of issues, advising HM Treasury, and consulting for fund managers on investment strategies and asset allocation strategies. His work at the Competition Commission involved being a panel member on a number of inquiries, including a regulatory inquiry into airport pricing, market inquiries into domestic bulk liquid petroleum gas and the UK grocery market, and merger inquiries relating to the GUS / Littlewoods mail order operations and the takeover bids for the London Stock Exchange by Euronext and Deutsche Börse. In addition, he has acted as a consultant to other inquiries including the mobile phone and storecards inquiries. He has also undertaken expert witness work for the Treasury Solicitors’ Department, and in connection with Australian Gas Distribution pricing cases.

My current research interests are as follows:
The general area of market-based empirical research, particularly with regard to the robustness of conclusions that can be drawn from such studies in the light of documented risk factors. At present, this interest principally focuses upon the areas of take-overs and mergers together with returns to, and valuation of, corporate social responsibility agendae. Related work has focused on market reaction to directors’ trading activity, and the success of initial public offerings. A Leverhulme research grant of approximately £78k funding work on directors’ dealing around takeovers has recently been completed.

The empirical estimation of cost of capital, which has included the award of a an ESRC Grant of approximately £300k (started in December 2012). Outputs to date include a recent JBFA paper the empirical testing of the Fama-French and Carhart models in the UK, and a working paper to be presented to the BAFA Conference later in 2016 on beta estimation. Both these papers are with Dr Rajesh Tharyan and Dr Shan Hua, with whom I provide downloadable data on Fama-French style portfolios and factors for the UK and the ESRC grant is, inter alia, to to support the regular updating of these data for benefit of UK academic researchers via the Xfi website. I am lead researcher on the grant with three other co-reaserachers at Exeter.

My interest in CSR has included two studies of the performance of ethical and non-ethical UK unit trusts which were published in the Journal of Business Finance and Accounting (JBFA). Current work is investigating the returns to, and market valuation of, CSR in relation to the US and two papers have been published in Journal of Business Ethics on this theme. A final paper on eranings persistence and firm value is forthcoming in JBFA.
I have had a long standing interest in the long run returns to UK acquirers. This led to me being invited to give a keynote paper at the 2015 ICAEW “Better Markets” Conference. The paper, “How far does financial reporting allow us to judge whether M&A activity is successful?” is forthcoming in Accounting and Business Research.

Briferendum Series

Why mortgage rates will rise with Brexit

May 16, 2016 12:58 pm UTC| Insights & Views Real Estate

How Brexit would affect house prices and homeowners is one of the big questions in the build up to the UKs EU referendum vote. George Osborne has said that mortgage rates will rise if theres an Out vote. Meanwhile, the...

1 

Economy

Polish economy begins 2019 on strong footing, retail sales likely to have accelerated in January

Polands initial hard data for 2019 show that the biggest economy in Central Europe is still doing quite well in spite of a visible deceleration in the German manufacturing. The data published yesterday and today by the...

UK gilts gain after January consumer inflation disappoints investors; 10-year auction in focus

The United Kingdoms gilts gained during Wednesdays afternoon session, after the countrys consumer price inflation (CPI) data for the month of January, disappointed market participants, also down from the previous reading...

German bunds remain narrowly ahead of Q4 2018 GDP, Eurozone December trade balance

The German bunds remained narrowly mixed during European session Wednesday ahead of the countrys gross domestic product (GDP) for the fourth quarter of 2018, scheduled to be released on February 14 by 07:00GMT and the...

USD/SGD likely to trade lower in line with rebound in EUR and CNH, says Scotiabank

The USD/SGD currency pair is expected to trade lower in line with a rebound in the EUR and the CNH, according to the latest research report from Scotiabank. The SGD has been running a close correlation with the EUR and the...

JGBs continue mixed trading ahead of Q4’18 GDP data amid lingering hopes of U.S.-China trade deal

The Japanese government bonds continued to trade mixed towards the end of Asian session Wednesday, as investors await the countrys gross domestic product (GDP) for the fourth quarter of this year, scheduled to be released...

Politics

Vladimir Putin Set to Deliver State of the Nation Address Amid Significant Popularity Decline

Vladimir Putin, the president of Russia will deliver his state of the nation address on Feb. 20. It was reported that this would be his first address to the houses of parliament since being re-elected to the presidency for...

Donald Trump Wants to Cancel $929 Bullet Rail Funding; California Gov. Gavin Newsom Called the Move ‘Political Retribution’

Donald Trump is threatening to cancel the $929 high-speed rail grant to California. The White House stated on Tuesday, Feb. 19, that the administration is looking into every legal option to recover $2.5 billion funds that...

Donald Trump to Sign Smaller Border Wall Funding to Avoid Another Government Shutdown

After a 35-day shutdown, the government has temporarily reopened but what happens after the Feb. 15 deadline is still quite uncertain. However, there are reports that United States President Donald Trump will most likely...

Vladimir Putin’s Aide Tackles Alleged Russian Interference in 2016 U.S. Presidential Election; Writes Choice Is an ‘Illusion’

The relationship of Russian President Vladimir Putin and United States President Donald Trump has been a highly debated topic. Many critics believe the Russian government interfered with the election that Trump won in...

Melania Trump 2019: ‘Hidden Message’ in First Lady’s Dress at Donald Trump’s State of Union Address Demystified

United States first lady Melania Trumps fashion choices are often interpreted by people on social media and the press as having hidden messages. So Mrs. Trumps stylist, Hervé Pierre, was quick to dismiss any...

Science

Cancer Cure 2019: Experts Doubt Israeli Company’s Promise of Delivering ‘Complete Cure’ in 1 Year

Scientists from Israel recently announced they are one year away from delivering a complete cure to cancer. But some experts are explaining why the promised time frame is questionable. In late January, scientists and...

HIV/AIDS Cure 2019: Study of HIV ‘Accessory Protein’ Can Lead to Improved Treatment Plans for Patients

Aside from continuously researching for the absolute cure to human immunodeficiency virus (HIV) and acquired immune deficiency syndrome (AIDS), scientists are also working on improving the treatment plans for infected...

Cancer Cure Found in One of World’s Most Rare Elements That Caused Dinosaur’s Extinction?

Iridium is one of the elements believed to have contributed to the extinction of dinosaurs. And, recently, scientists announced it is possible that it could also help them develop a cure for cancer. Scientists from...

HIV/AIDS Cure 2019: Donald Trump’s State of the Union Address Includes 10-Year Program to Weaken Epidemic

U.S. President Donald Trump will reportedly pledge on immensely diminishing the human immunodeficiency virus and acquired immune deficiency syndrome (HIV/AIDS) epidemic while scientists are still looking for the ultimate...

HIV/AIDS Cure 2019: New Research Grants Focus on Body's Natural Control of the Virus Post-Treatment

Scientists around the world are exploring various angles to further understand HIV/AIDS and find a cure. Several research grants were previously awarded to groups who are aiming to focus on post-treatment control. The...

Technology

iPad Mini Latest News & Update: Price Cuts Rumored, Cost Pushing Customers Away

While there is a case to be made with regards to the purchase of the iPad Mini 4, the products undeniable price issue has turned many customers away. The device is smaller, thus making it more portable, but it is also more...

PS5 Latest News & Update: Big Announcement Rumored, Microsoft Desperate to Beat Sony This Time

The competition in the gaming console world is beginning to heat up if reports with regards to upcoming announcements are anything to go by. Basically, Microsoft, Sony, and Nintendo are expected to make some big reveals...

'Cyberpunk 2077' Latest News & Update: No Sausage Fest, Microtransactions or ‘Fortnite’ Ambitions

Even though a lot of people are eagerly waiting for the time when Cyberpunk 2077 is finally released, there is still so much about the game that is not known by the public. It would seem that CD Projekt Red is finally...

‘AirPods 2’ Release Date, Latest News & Update: Wireless Earphones Speculated to Come Out Alongside AirPower Charger

The release date of AirPods 2 has yet to be announced but the web is rife with rumors that it will drop sometime in the spring. The wireless earphones are speculated to make its first public appearance at Apples special...

‘World of Warcraft Classic’ Release Date, Latest News & Update: The Raid Dungeons that Players Can Tackle in the Rekindling

World of Warcraft Classic will be launching sometime this summer and hardcore fans of the franchise are excited to dive deep into the sea of nostalgia. The developers have already confirmed that the game will be similar to...
  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

February 21 00:30 UTC Released

AUReserve Assets Total

Actual

60526 AUD

Forecast

Previous

61875 AUD

February 21 00:30 UTC Released

AUParticipation Rate

Actual

65.7 %

Forecast

65.6 %

Previous

65.6 %

January 31 00:00 UTC 556053556053m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 556053556053m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 567873567873m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 556053556053m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 567873567873m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 556053556053m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 556053556053m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 556053556053m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.