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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...

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Economy

Celtics' Freedom willing to educate Lebron James on using Nike, China issues

Boston Celtics center Enes Kanter Freedom said he is willing to speak with LeBron James about the criticisms he made on the latter for his sponsorship deal with Nike and silence on Chinas human rights issues. Freedom...

Burger King to simplify drive-thru menu to speed up lines

Restaurant Brands International, which owns Burger King, will cut some Burger King menu items to make their drive-thrus operate more quickly. According to Jose Cil, CEO of Restaurant Brands, the company noticed Burger...

Rick Bayless, Smashburger collaborate to launch Chorizo Cheeseburger

Smashburger and Rick Bayless have teamed up to create a new delectable burger sandwich. The American chef and restaurateur and the fast-casual hamburger restaurant chain headquartered in Denver, Colorado, launched the...

McDonald's Ireland recalls popular product over food safety issue

McDonalds Ireland recently issued an urgent recall on one of its well-known food products. The fast-food giant warned its customers that there is an undeclared ingredient that could not be safe for some...

Walmart: Brett Biggs to step down as chief financial officer of the company

Walmart will be letting go of one of its executives that have been with the company for more than two decades now. It was reported that Brett Biggs, the current chief financial officer, is leaving and this was already...

Politics

Jill Biden unveils White House Christmas decorations

This year marks Dr. Jill Bidens first Christmas as the nations first lady as the White House recently unveiled this years Christmas decorations. Dr. Biden also unveiled the theme for this years set of Christmas...

Joe Biden hosts CEOs of major retailers at White House to discuss supply chain issues

With the holidays approaching, the world is also facing supply chain issues in the midst of many looking to do their shopping at this time. In an effort to address the issues, US President Joe Biden held a meeting at the...

Donald Trump reportedly looking through potential 2024 running mates

There is a lot of speculation that former President Donald Trump is set on launching another presidential bid following his loss to Joe Biden in the 2020 elections. A recent report reveals that the former president is...

Kamala Harris to hold first meeting with National Space Council this week

US Vice President Kamala Harris is also the chair of the countrys National Space Council that is set to hold a meeting this week. This is also the first meeting of the National Space Council, with her as the chair. The...

Science

Pigeons consider safety, food availability in picking where to perch

Pigeons consider safety and food availability in picking where to perch, according to Keio University professor emeritus of animal behavior, Shigeru Watanabe. The finding could help cities manage pigeon...

Half of world's seabirds ingest plastic additives :study

An international team of researchers estimates that about half of the worlds seabirds have ingested plastic additives after studying 145 seafowls of 32 species from 16 areas of the world. Plastic chemicals such as...

Study shows plant-based meat has 'excessive' salt content

A UK-based lobby group found the salt content of plant-based meat products unnecessarily high, with over 75 percent of the products surveyed failing to meet the UK governments salt reduction targets. The researchers...

S. Korean watchdog assures clothing from recycled plastic bottles is safe

The Korea Consumer Agency concluded that clothes made with recycled plastic bottles generally have no safety concerns. The watchdog based its findings on durability and safety tests of five recycled polyester garments...

S. Korean scientists develop hydrogen fuel engines strong enough to power industrial drones

The Korea Institute of Machinery and Materials has developed a 5-kilowatt hydrogen fuel engine that is strong enough to power industrial lift drones with a weight of 20 to 30 kilograms. The engine supplies hydrogen fuel...

Technology

‘Call of Duty: Warzone Pacific’ is getting 15 drop zones in the new map Caldera

Next week is going to be huge for Call of Duty: Vanguard and Warzone players as it is when the integration of the free-to-play and paid multiplayer games will start to take shape. One of the highlights of the upcoming...

Valve doesn’t plan on introducing Steam Deck-only games

Valve is the next video game company to release its gaming hardware, the Steam Deck. And Valve has already clarified it is not planning on making Steam Deck exclusive games. Video games exclusivity to certain platforms...

Twitch uses machine learning tool to detect channel ban evaders

Twitch launched a new safety-focused tool that leverages machine learning to identify users trying to evade channel-wide bans. This appears to be part of the Amazon-owned streaming platforms effort to address widespread...

iPhone SE 3 will reportedly launch in Q1 2022

Apple skipped the mid-range smartphone market this year, but things are reportedly going to change in 2022. The tech giant is rumored to announce the iPhone SE 3 in the early part of the year. The company has wrapped up...

‘Final Fantasy 14: Endwalker’ devs warn of server congestion at launch

The highly anticipated Final Fantasy 14: Endwalker expansion is finally just days away, and its launch is even closer for those with early access privileges. However, Square Enix issued an important warning ahead of the...
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