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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

Brazilian Real likely to remain under downward pressure for the time being, says Commerzbank

The Brazilian real is expected to remain under downward pressure for the time being, according to the latest research report from Commerzbank. The arrest of former President Michel Temer and his Minister of Energy,...

NZ February trade balance beats market estimates; exports likely to continue growth over coming months, says ANZ Research

New Zealands trade balance for February was stronger than expected with exports above expectations and imports aligned with expectations. Lamb exports were at record levels while logs exports were also very strong. Exports...

JGB yields jump after investors shift to riskier assets following short-covering

The Japanese government bond yields jumped after investors shifted their interests toward riskier assets following a short-covering across all markets. The yield on the benchmark 10-year JGB note, which moves inversely...

USD/SGD likely to range trade between 1.345 and 1.362 in the weeks ahead, says Scotiabank

The USD/SGD currency pair is expected to range trade between 1.345 and 1.362 in the weeks ahead, on expectations that the US and China reach a trade deal in April or May finally, according to the latest research report...

Australian bond yields pare losses despite fall in U.S. peer amid global growth concerns

Australian government bond yields pared losses during Asian trading session Tuesday, as investors have largely shrugged-off the fall in the United States counterpart in the overnight session amid fears of global...

Politics

Melania Trump: Photo With Rumored Body Double Theory Was Photoshopped, Donald Trump Insists

An old rumor that United States First Lady Melania Trump is using a body double to accompany U.S. President Donald Trump was reignited this month. The POTUS was quick to dismiss the speculations insisting that the photo...

Politicians suing for defamation is usually a bad idea: here's why

When The Project host Waleed Aly began his editorial in the wake of the Christchurch massacre, he apologised that these wont be my best words. He was wrong. The YouTube clip of his poignant commentary has been viewed...

Melania Trump Did Not Let Ivanka Trump Take Over the White House East Wing, 'Kushner, Inc.' Author Alleges

Since United States President Donald Trump and his family occupied the White House, there have been several books released allegedly exposing the behind-the-scenes interactions among the first family and other Presidential...

Donald Trump 2019: Nancy Pelosi is Surprisingly Against His Impeachment and Here’s Why

The Democrats want Donald Trump to be impeached as soon as possible. They have been calling for the Congress to start the impeachment proceedings now but it appears that House Speaker Nancy Pelosi is not for it. In a...

Vladimir Putin 2019: Activist Jailed for Putting Up Russian President’s Gravestone

Vladimir Putins hater set up a fake gravestone in the middle of the Russian city, Naberezhnye Chelny, and the act landed him in jail. The fake gravestone featured the presidents picture and the year 1952-2019 was written...

Science

Cancer Cure: Medical Research Explains How Worms Are Causing Cancer and Can Potentially Cure Them

A recently published medical paper explains how a number of worm species are causing cancer to many people in underdeveloped countries. But, on the other hand, the researchers also explained how some worms might actually...

HIV/AIDS Cure: Third Patient Now in ‘Long-Term Remission’ From HIV Following Stem Cell Treatment

Hopes are up that stem cell treatment could eventually lead to the cure for human immunodeficiency virus (HIV) and acquired immunodeficiency syndrome (AIDS). A third HIV patient has reportedly been on remission from the...

Cancer Cure 2019: Possible Treatment for Cancer Caused by Severe Skin Disease Is Being Developed

A group of researchers is recently focused on coming up with a cure for skin cancer that developed from a severe skin disease called recessive dystrophic epidermolysis bullosa (RDEB). This medical progress is especially...

HIV/AIDS Cure 2019: Advancements in Treatments and Therapies Continue Now Help Patients Return to ‘Non-Frail State’

For decades, scientists and researchers have been working hard in finding the complete cure for human immunodeficiency virus (HIV) and acquired immunodeficiency syndrome (AIDS). While the ultimate cure for HIV/AIDS is not...

CRISPR gene editing: Why we need Slow Science

In a newly published article in Nature, a group of prominent scientists and ethicists have called for a moratorium on clinical research using CRISPR/Cas9 gene editing. This moratorium deals with the use of CRISPR/Cas9...

Technology

iOS 13 Release Date, Latest News: Features to be Unveiled in June; OS Update Goes Live September

Apples upcoming operating system update for iPhones and iPads, the iOS 13, will most likely be unveiled in June along with its top new features and improvements. However, fans might have to wait until September before...

AirPods 2 Latest News, Update: Orders of Apple’s Second-Generation Wireless Earphones to Arrive This Week

Apple has now begun shipping the AirPods 2 after months of speculation that the next-gen wireless earphones will be coming out this March. So far, the reviews are leaning a bit on the negative side as most of the rumored...

‘Jump Force’ DLC, Updates, Features: Free Costumes Dropping in April; New Playable Characters Follow in May

Within two months since the official release of Jump Force, fans can expect new sets of contents coming to the game. By April, developers will drop free costumes to be followed by some paid downloadable contents. These...

‘Final Fantasy XIV: Shadowbringers’ Release Date, Features: Will Square Enix Add a Healer Class Before July Launch?

Final Fantasy XIV: Shadowbringers is still a few months away from its official launch. Square Enix has been revealing more gameplay details recently, but not exactly what fans wanted to hear. Just last week, the...

‘World of Warcraft Classic’ Release Date, Update: Community Ecstatic After Blizzard Listened to Players Regarding Potential Loot Abuse

As summer draws to a close, players who have been patiently waiting for World of Warcraft Classic are getting restless by the day. Fortunately, Blizzard has done a good job at keeping the community updated and listening to...
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2019-03-27 00:47:41
0m

March 27 01:30 UTC Released

CNTurnover/sales cum Y/Y

Actual

-14 Percent

Forecast

Previous

10.3 Percent

March 27 01:00 UTC Released

NZCen Bank Interest Rate

Actual

1.75 %

Forecast

1.75 %

Previous

1.75 %

January 31 00:00 UTC 604942604942m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 604942604942m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 616762616762m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 604942604942m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 616762616762m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 604942604942m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 604942604942m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 604942604942m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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