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

FxWirePro: Loonie Gains Marginally Amid Flurry of Data Prints In Canada – USD/CAD OTC Updates And Options Strategy

Canadian data announcements have been lined up for the next weeks, with unemployment data scheduled for today, BoC monetary policy is on 15thfollowed by press meet, while retails sales and CPI flashes to print on 21stand...

FxWirePro: A Glimpse At ZAR’s RV And Delta-Hedge Trades On Looming South African Debt Crisis

Due to global recession fears and rising risk aversion yesterday brought a further sell-out for many EM currencies. The rand was amongst the biggest losers over the past days and reached new lows against USD and EUR. This...

FxWirePro: Sterling Still Edgy Amid Pandemic Saga - Driving Forces, OTC Outlook & Hedging Strategies of GBP/USD

GBPs performance ranks mid-table over the past month (+0.5% vs USD, -2.5% vs EUR) as the global impact of the coronavirus has come to dominate GBPs local difficulties with Brexit. But even though Brexit is now being...

FxWirePro: Take Prudent Look At Short Euro Trades Amid Pandemic Outlook

Pandemic COVID-19 impact has broadened, eliciting abrupt financial market moves. We all know that the strength of a relationship can be severely tested during times of crisis. This is currently very obvious in the EU, and...

FxWirePro: Driving Forces, OTC Outlook And Hedging Strategies Of EUR/JPY

Universal fact is that the strength of a relationship would be severely tested during times of crisis. This is currently very obvious in the EU, and the euro is not taking it well. There is no agreement about how to...

Politics

Melania Trump releases video message thanking workers at the frontlines of pandemic

First Lady Melania Trump has been making her presence known to the public as Americans cope with the extended social distancing period until the end of April. Recently, she released a video message showing her gratitude...

Donald Trump accuses WHO of being biased towards China about coronavirus

The United States continues to struggle with the effects of the pandemic with the number of cases increasing per day as well as the thousands of deaths at the same time. After previously accusing the World Health...

Bernie Sanders drops out of presidential race, Joe Biden to be the Democratic nominee

For some time, the presidential race among the Democrats was solely between former Vice President Joe Biden and Vermont Senator Bernie Sanders. Now, in a move that perhaps a lot of people had seen coming, Sanders has...

Stephanie Grisham leaving White House press secretary post to become Melania Trump’s chief of staff

Stephanie Grisham stepped down from her post as White House press secretary on Tuesday, April 7. Grisham is still part of the communications team as she is now Melania Trumps chief of staff and spokesperson, according to...

Science

NASA: Agency commemorates 50th anniversary of Apollo 13 mission

Ever since the historic Apollo 11 mission in 1969, NASA tried to gain momentum by sending in more people to the moon with Apollo 12 and Apollo 13. 2020 marks the 50th anniversary of the Apollo 13 mission. Express...

Earth is currently in the midst of a solar windstorm with 1.6 million KMPH winds

Just like how the weather on Earth can be turbulent, the weather in the Solar System is also unpredictable. A recent report reveals that the planet is currently in the midst of a solar windstorm. Express reports that...

NASA: Agency releases new Pillars of Creation photo taken by Hubble Space Telescope

NASAs Hubble Space Telescope has been providing scientists and budding astronomers and space enthusiasts with stunning photos of space. Recently, the agency decided to revisit one of the telescopes most iconic images, the...

Fireball spotted flying over Northern Europe

Perhaps the most frequent sightings of phenomena in space would be meteor showers. However, residents in Northern Europe were stunned when they witnessed a fireball flying over the northern part of the...

Technology

‘eFootball PES 2020’ devs update Cristiano Ronaldo’s model to sport the man bun

eFootball PES 2020 players have something to look forward to this week. Konami just released the Data Pack 6.0 that comes with a slew of updates, including new player faces. Football players should get ready to start...

‘Elder Scrolls Online: Greymoor’ and Update 26 are delayed due to coronavirus

In case video game fans have not noticed yet, there is an emerging trend in the gaming community right now upcoming titles, DLCs, and updates are getting delayed due to coronavirus. One of the latest franchise to be...

‘NBA 2K20’ players notice arena issues after Patch 11 update

It has been a while since 2K Games released patch notes for NBA 2K20 players. This week, developers deployed the Patch 11 notes, but several players noticed having issues in the arena features after updating the basketball...

‘PUBG Mobile’ India wants its players to stay at home with its 7 Days Challenge

With the ongoing coronavirus pandemic, people are all staying indoors hoping for the outbreak to run its course. PUBG Mobile gamers in India now have more reasons to stay indoors with its 7 Days Challenge. In the PUBG...
  • Market Data
Close

Welcome to EconoTimes

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