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

AmRest sells KFC stores in Russia for $104M

ArmRest, the franchisee of the KFC fried chicken restaurant brand, is selling the stores in Russia for $104.48 million or 100 million. It was reported that the Spanish casual dining, fast-food restaurant and coffee shop...

Coca-Cola partners with Amazon Prime, Imagine Entertainment to launch Christmas movie production

Coca-Cola announces its storytelling initiative with its Christmas Always Finds Its Way short films trilogy. For this project, the beverage company has teamed up with Amazon Prime Video and Imagine...

NFT: Starbucks launches its ‘Odyssey’ Web3 loyalty program, NFT Community

Starbucks revealed on Thursday, Dec. 8, that it has activated the Beta version of its Web3 Odyssey loyalty program as well as its NFT community. This is the testing phase for the coffee chains highly-anticipated digital...

Hanwha Group to sign final deal agreement to acquire DSME

Hanhwa Group has taken another step to complete its deal to acquire the Daewoo Shipbuilding Marine Engineering Co. (DSME), which is the third largest shipbuilder in the world. This means that the company is also inching...

中 제로 코로나 정책, 국가 경제에 큰 손실...회복 어려워

원본 기사 : Chinese economic growth may never recover from COVID heres why 최근 몇 년 간 전 세계 많은 정부가 경제 회복과 코로나 확산 방지 사이에서 균형을 잡기 위해 노력해왔다. 중국은 세계에서 가장 강력히 코로나에...

Politics

Iran judiciary conducts first protest-related execution

Iran has announced the execution of a man convicted of a crime that stems from the ongoing protests. The announcement is another sign that Tehran plans to crack down on the months-long demonstrations against the...

UK: Former health minister will not run for re-election

Former British health minister Matt Hancock said this week that he would not be running again for parliament in the next general election. Hancock is also among the growing number of Conservative lawmakers that will not be...

Russia-Ukraine war: Germany's Scholz says risk of Russia using nuclear weapons now low

German Chancellor Olaf Scholz said that the risk of Russian leader Vladimir Putin resorting to nuclear weapons has lowered now. Scholz said that the diminished risk was a result of international pressure as the war in...

US: Raphael Warnock wins Georgia run-off election

The Democratic Party has reinforced its majority in the US Senate this week after the recent run-off elections in Georgia. Democratic incumbent Raphael Warnock defeated his Republican challenger Herschel Walker in the...

Science

S. Korean scientists detect antibiotic material in spider venom using AI

South Korean scientists have developed an artificial intelligence (AI)-based peptide detection model that can predict the antibiotic functionality of peptides antibiotic for hay bacillus, colon bacillus, staphylococcus...

Scientists test mRNA technology for universal flu vaccine

An experimental vaccine was found to potentially open a pathway to a universal flu shot that might help prevent future pandemics, according to a US study. In initial tests in mice and ferrets, the two-dos vaccine...

Unilever explores the use of “cow-free” ingredients for ice creams

Unilever has begun looking at utilizing precision fermentation technology to create cow-free dairy products or use them within its ice cream portfolio A spokesperson for Unilever said that the companys RD team is in...

S. Korean researchers develop wearable OLED that can cure jaundice in infants

Researchers from the Korea Advanced Institute of Science and Technology (KAIST) have developed a wearable green organic light-emitting diode (OLED) with a 470-nanometer (nm) wavelength that can cure jaundice in...

How satellites, radar and drones are tracking meteorites and aiding Earth's asteroid defence

On July 31 2013 a constellation of US defence satellites saw a streak of light over South Australia as a rock from outer space burned through Earths atmosphere on its way to crash into the ground below. The impact...

Technology

Disney+ ad-supported tier launches with competitive pricing and features to take on Netflix

As promised, Disney+ launched its ads-supported subscription tier on Thursday. And its monthly pricing, along with the perks included in the plan, is giving Netflixs Basic with Ads option a run for its money. The...

FTC files lawsuit to block Microsoft’s Activision Blizzard acquisition alleging the deal violates antitrust laws

The U.S. Federal Trade Commission announced on Thursday that it is filing a lawsuit against Microsoft for its proposed acquisition of Activision Blizzard. The complaint alleges that the deal is in violation of antitrust...

OnePlus 11 design, specs: ‘Official’ images reportedly confirm leaked renders; company to drop ‘Pro’ branding

With the OnePlus 11 generation expected to release soon, a new report surfaced claiming to have an official image that shows some significant design changes in the works. The company is also expected to implement a few...

‘Elden Ring’ free Colosseum update adds new arenas, new PvP modes, and balance adjustments

Elden Ring players will have plenty of new things to do in The Lands Between, thanks to the release of the new Colosseum update. Developer FromSoftware introduced new PvP modes that will be played in new arenas all...

Xbox games: ‘Starfield’ and other upcoming first-party titles will be more expensive starting in 2023

Xboxs parent company Microsoft confirmed a looming price hike for upcoming first-party games. Starfield, along with other yet-to-be-released titles for Xbox Series X/S, will cost more starting next year. Microsoft...
  • Market Data
Close

Welcome to EconoTimes

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