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

U.S. Treasuries suffer ahead of December industrial production, host of FOMC speeches

The U.S. Treasuries suffered on the last trading day of the week Friday, ahead of the countrys industrial production data for the month of December and FOMC members Williams and Harkers speech, both scheduled for later...

UK gilts slump despite worse-than-expected December retail sales data; Brexit chaos continue to bother

The United Kingdoms gilts slumped during Fridays afternoon session despite a worse-than-expected retail sales data for the month of December, released today amid the ongoing Brexit chaos, followed by PM Mays survival of...

Indonesian imports growth likely to ease this year on lagged impact of Rupiah depreciation, says DBS Economics

Indonesian imports growth is expected to ease through this year compared to last year as lagged impact of Rupiah depreciation will start to take effect, in addition to lower oil price, according to the latest research...

BoK likely to leave key policy rate unchanged next week amid synchronized global slowdown, says Scotiabank

The Bank of Korea (BoK) is expected to leave its benchmark monetary policy rate unchanged at 1.75 percent at its monetary policy meeting on next Thursday amid a synchronized global slowdown and heightened disinflation...

JGBs remain mixed after December national core CPI disappoints investors, November IP improves

The Japanese government bonds remained narrowly mixed Friday after the countrys national consumer price inflation (CPI) data for the month of December disappointed market sentiments and industrial production for November...

Politics

Donald Trump 2019: White House Dismisses Health Concerns Over Blood & Band-Aid on President's Hand

An adhesive bandage covering a dot of blood on U.S. President Donald Trumps right hand earlier this week stirred speculations about his health. But the White House immediately issued a statement telling the public there is...

Melania Trump 2019: FLOTUS Flew to Palm Beach After Donald Trump Canceled Nancy Pelosi’s Afghanistan Visit

Melania Trump has been notably absent in the last few weeks amidst the government shutdown, the longest in U.S. history. But there is precedence to the FLOTUS actions as she behaved similarly last year, although the...

Vladimir Putin Reportedly Backed the Russian’s NRA Infiltration In a Bid to Create Conflicts in the US

Vladimir Putin and his government have repeatedly denied their involvement in the infiltration of the National Rifle Association (NRA) but a U.S. intelligence report showed otherwise. It was said that the Kremlins are...

Donald Trump’s Ratings Plunge as Shutdown Continues; POTUS Reportedly Won’t Negotiate Reopening Government Without Wall Funding

A Rasmussen poll report, on Monday, showed Donald Trumps ratings plunged to its lowest for the past year. A source said the President of the United States is unlikely to negotiate the reopening of the government until his...

Donald Trump Allegedly Furious, Let Out Expletives As Michael Cohen Is Set to Testify Before House Next Month

Donald Trump is allegedly furious after learning that his former lawyer, Michael Cohen, is set to testify before the House committee in February. The hearing would be televised, and the lawyer would be questioned about the...

Science

A neuroscientist's tips for a new year tuneup for your brain

Unlike the effervescent bubbles that stream to the top of champagne flutes on New Years Eve, what I call brain bubbles are far from celebratory. These bubbles are metaphorical rather than physical, and they distort the...

Record for decoding the longest DNA sequence is impressive – here's what to expect next

Like other professionals, scientists like to be the best at what they do, but they also like to have fun in their job. And in 2018, my colleagues managed just that in claiming a record for decoding the worlds longest DNA...

Will wearing your coat indoors make you feel colder outside? A scientist explains

If youve ever had to work in a draughty office, warehouse or classroom, youve probably been tempted to keep your coat on inside. And you were probably also advised against it because you wouldnt feel the benefit when you...

A brief history of black holes

Late in 2018, the gravitational wave observatory, LIGO, announced that they had detected the most distant and massive source of ripples of spacetime ever monitored: waves triggered by pairs of black holes colliding in deep...

When you look up, how far back in time do you see?

Our senses are stuck in the past. Theres a flash of lightning, and then seconds pass until we hear the rumble of distant thunder. We hear the past. We are seeing into the past too. While sound travels about a...

Technology

PlayStation 5 Latest News & Update: Sony Asking Fans What They Want from PS5?

It has been a widely accepted notion for a few years now that Sony has been developing the PlayStation 5 for the next generation of console gaming. However, there have been no official confirmations with regards to the...

‘Fortnite’ Latest News & Update: Battle Royale Game Threatening Netflix Bottom Line, Online Streaming Diverting Customers

In a rather surprising recent development, Netflix revealed that it had more to fear from the hugely popular Battle Royale game Fortnite than it did from mainline competition like HBO. This might initially come across as...

‘GTA 6’ Release Date, Features: Rockstar Games Could Revisit a London Map, But Not for Next 'GTA'

The details fans have about GTA 6 for now are mere insider reports and speculations. But some of these are quite entertaining consider such as having a gameplay map set in London. However, Rockstar Games boss Dan Houser...

‘Final Fantasy VII: Remake’ Release Date, Latest News & Update: Developers Rumored to Announce Big Reveal in April

Final Fantasy VII: Remake is still being created within the studio of Square Enix and the developers are remaining mum about when its going to be finished. News about the reimagining is few and far in between given that...

Samsung Galaxy S10 Release Date, Specs: 3 Variants Eyed for 2019 Launch — Including a 5G-Enabled Smartphone

Samsung is rumored to break tradition with the release of the Galaxy S10 series this year. The company is expected to launch, not only two but a total of three variants with one that supports 5G connectivity. The South...
  • ET PRO
  • Market Data

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

January 18 15:00 UTC Released

USYr Inf Prelim

Actual

2.6 %

Forecast

Previous

2.5 %

January 18 15:00 UTC Released

USU Mich 1Yr Inf Prelim

Actual

2.7 %

Forecast

Previous

2.7 %

January 31 00:00 UTC 509548509548m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 509548509548m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 521368521368m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 509548509548m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 521368521368m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 509548509548m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 509548509548m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 509548509548m

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.