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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

S. Korean consumers' fascination for expensive, unconventional fruit prompts farmers to switch crops

Fruits that come with high price tags such as apple mangos and Shine Muscat grapes are selling briskly in South Korea, prompting farmers to switch to these new crops. Shinsegae Department Store reported that for its...

Maxim Magazine launches NFT marketplace allowing access to its collection

Maxim Magazine has launched a new platform from a partnership with xSigma that grants users exclusive access to Maxims NFT collections. A subsidiary of ZK International, the blockchain RD laboratory xSigma has been...

Star Flyer may allow pet owners to bring dogs, cats into passenger cabin

Japanese airline Star Flyer is thinking of allowing pet owners to bring their dogs and cats in the passenger cabin on domestic flights beginning next year. Star Flyer aims plans to test the new service on flights...

FSS to appeal against Seoul court decision favoring Woori chairman

The Financial Supervisory Service will appeal a Seoul court decision that nullified its penalty on the current Woori Financial Group Chairman Sohn Tae-seung for the misselling of high-risk funds. The Seoul...

Mastercard to award a Mourinho NFT to one cardholder

Mastercard will randomly award its first non-fungible token (NFT) to a Mastercard cardholder who joins the UK sweepstake. The NFT would be launched in partnership with the renowned football coach and Mastercard global...

Politics

Joe Biden meets with CEOs to discuss vaccine mandates

As the US still struggles to contain the spread of COVID-19 and its Delta variant, US President Joe Biden and his administration are looking to further boost vaccinations. This week, Biden met with business leaders to...

Kamala Harris, Treasury Secretary push for more spending on child care

The Biden-Harris administration is currently looking to shore up public support for upcoming proposals such as the massive $3.5 trillion social spending bill. US Vice President Kamala Harris along with Treasury Secretary...

Nancy Pelosi wanted to know who would stand up to Donald Trump following Capitol riots, new book claims

More details have surfaced regarding what was happening behind the scenes before, during, and after the Capitol insurrection last January 6. According to an upcoming book, House Speaker Nancy Pelosi wondered who was...

Capitol riots: Rep. Adam Kinzinger calls on GOP colleagues to condemn rally supporting insurrectionists

Months after the January 6 Capitol insurrection, another rally is being anticipated and this time it is in support of the insurrectionists that have been arrested and imprisoned. Republican Rep. Adam Kinzinger called on...

Science

S. Korea to develop solar-powered drone that could carry 20 kg to stratosphere

South Korea will invest 37.47 billion won in developing a solar-powered drone that could carry over 20 kilograms in the stratosphere and with natural disaster monitoring capability by 2025. The drone will serve as an...

S. Korean scientists develop 3D printing ink from sunflower pollen

A group of South Korean scientists from Nanyang Technological University in Singapore managed to develop 3D printing ink material from sunflower pollen. The research team led by professor Cho Nam-joon first incubated...

Kumho Petrochemical to produce eco-friendly rubber compound out of rice bran

Kumho Petrochemical Co. will produce an eco-friendly synthetic rubber compound made of rice bran-based bio-silica. Silica improves fuel efficiency, braking power, and wear resistance of synthetic rubber for...

From CRISPR to glowing proteins to optogenetics – scientists' most powerful technologies have been borrowed from nature

Watson and Crick, Schrdinger and Einstein all made theoretical breakthroughs that have changed the worlds understanding of science. Today big, game-changing ideas are less common. New and improved techniques are the...

234 scientists read 14,000+ research papers to write the upcoming IPCC climate report – here's what you need to know and why it's a big deal

This week, hundreds of scientists from around the world are finalizing a report that assesses the state of the global climate. Its a big deal. The report is used by governments and industries everywhere to understand the...

Technology

‘Gran Turismo 7’ campaign and GT Cafe don’t have offline modes

Gran Turismo 7 director Kazunori Yamauchi reiterated that they do not plan on making the games campaign mode available for offline play. But the Gran Turismo series creator also explained the reason behind this significant...

‘God of War Ragnarök’ producer says there won’t be a trilogy

God of War Ragnark may be one of the most anticipated games among PlayStation fans. The preceding title ended in a way that made a sequel necessary, but that will not be the case for the upcoming game. Producer Cory Barlog...

'Skull and Bones' reportedly has plenty of ship customizations with an open world map

The development of Skull and Bones has been one of the long-running projects of Ubisoft, and fans got more ideas about its potential gameplay features after a recent leak. The pirate-themed title will reportedly offer a...

iOS 15 will roll out starting September 20

Apple has launched several devices at an event earlier this week. It was then not surprising that part of the program was the announcement of the iOS 15 release date. Now, the reported full release notes of the operating...

Report: Samsung Galaxy S22 may launch with a smaller battery

The base model of the Galaxy S22 series might not be a full upgrade from the Galaxy S21 on paper, per a new report. The upcoming device is rumored to sport a smaller battery than its predecessor. However, Samsung could...
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