Professor Peter Lawrence Swan
Professor

Professor Peter Lawrence Swan

  • PhD, Monash University
  • BEc (Hons), Australian National University
Business School
School of Banking and Finance

Professor Peter Swan AO FRSN FASSA is currently in the School of Banking and Finance,  Business School, University of New South Wales-Sydney.

He completed his Honours Economics Degree at ANU, his PhD at Monash and after visiting positions at Chicago and Rochester, joined the Economics faculty at ANU, then to a chair at AGSM, and established the Finance Department at the University of Sydney prior to returning to UNSW.

On the Queen's Birthday Honours List 9 June 2003 he was appointed as Member of the Order of Australia (AM).Citation: 'For services to academia as a scholar and researcher and through contributions to public policy in the fields of economics and finance'. 

UNSW appointed him to the title of Scientia Professor for the period, January 2003 - December 2008, in recognition of international eminence in research. Peter was elected as a Fellow of the Academy of Social Sciences in Australia in 1997. According to Mark Blaug's Who's Who in Economics: A Biographical Dictionary of Major Economists, 2nd ed., 3rd ed., 1999, he is in the top ten most highly cited economics and finance academics in Australia.

Order of Australia Queen’s Birthday Honours List on June 13, 2016:  Officer of the Order of Australia. AO. Citation: “For distinguished service to finance and commerce as a leading academic, journalist, and commentator on domestic investment, and on a range of political and economic issues.”

Peter Swan AO FRSN FASSA was unanimously elected as a Fellow of the Royal Society of New South Wales (FRSN) in March 2018. His latest award comes from the oldest learned society in the Southern Hemisphere, established in Sydney in 1821 to advance knowledge through the encouragement of studies and investigations in science, art, literature and philosophy.

Peter has published in the Journal of Finance, American Economic Review, Journal of Political Economy (three articles), Econometrica (two), Journal of Business (two), Pacific Basin Finance Journal (two), JFQA, The Economic Record, as well as 40 or so other international journal publications. Internationally, he is best known for his work in industrial organisation on the economics of durable goods and product quality.

His current research interests include funds management, market microstructure, corporate governance, executive compensation and asset pricing. Peter has also published many popular articles in Australian newspapers, has appeared on ABC radio and TV and there are over 100 articles in the popular press about his research.

Research Interests:

  • Corporate governance and executive compensation
  • Market microstructure
  • Asset pricing
  • Funds management

 

 

Phone
+61 2 9065 5103
Location
UNSW Business School - Ref E12 Level 3, Office 334
  • Book Chapters | 2019
    Swan P; Westerholm J, 2019, 'Market Architecture and Global Exchange Efficiency: One Design Need Not Fit All Stock Sizes', in Venetzia I (ed.), Behavioral Finance: The Coming of Age., 2019 World Scientific Publishing Co Pte Ltd, pp. 187 - 243, http://dx.doi.org/10.1142/9789813279469_0007
    Book Chapters | 2016
    Swan PL; Westerholm PJ, 2016, 'Are Domestic Household Investors Better Performers than Foreign Institutions? New Evidence from Finland (Peter L Swan and P Joakim Westerholm)', in Venezia I (ed.), Behavioral Finance 'Where Do Investors'' Biases Come From?', World Scientific, 5 Toh Tuck Link, Singapore 596224, pp. 115 - 155, http://dx.doi.org/10.1142/9789813100091_0004
    Book Chapters | 2010
    Swan PL, 2010, 'The Global Crisis and its Origins', in Kolb RW (ed.), Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future, John Wiley & Sons, Inc., Hoboken, NJ, pp. 51 - 58, http://dx.doi.org/10.1002/9781118266588.ch8
    Book Chapters | 2007
    Chen Z; Swan PL, 2007, 'Liquidity asset pricing model in a segmented equity market, Chapter 23, Stock market liquidity', in Lhabitant FS; Gregoriou GN (ed.), STOCK MARKET LIQUIDITY: IMPLICATIONS FOR MARKET MICROSTRUCTURE AND ASSET PRICING, edn. 1, WILEY FINANCE, HOBOKEN, NJ, pp. 417 - 444
    Book Chapters | 2007
    Swan PL, 2007, 'FRIEDMAN`S IMPACT ON THE CONDUCT OF AUSTRALIAN MONETARY POLICY', in Lindsay G (ed.), MILTON FRIEDMAN: A TRIBUTE, edn. 1, Centre for Independent Studies (CIS), NSW, pp. 9 - 17
    Book Chapters | 1982
    Swan P; Harper I, 1982, 'The Welfare gains from Bank Deregulation', in Australian Financial System Inquiry Commissioned Studies and Selected Papers, Australian Government Publishing Service, Canberra, pp. 475 - 512
    Book Chapters | 1982
    Swan P, 1982, 'Further Notes on the Integration of Company and Personal Taxation', in Australian Financial System Inquiry Commissioned Studies and Selected Papers, Australian Government Publishing Service, Canberra, pp. 90 - 100
    Book Chapters | 1982
    Swan P, 1982, 'An Optimum Business tax Structure for Australia', in Australian Financial System Inquiry Commissioned Studies and Selected Papers, Australian Government Publishing Service, Canberra, pp. 34 - 101
    Book Chapters | 1982
    Swan P, 1982, 'Is There a case for Complete Integration of Corporate and Personal Taxes', in Australian Financial System Inquiry Commissioned Studies and Selected Papers, Australian Government Publishing Service, Canberra, pp. 1 - 33
  • Journal articles | 2020
    Swan P, 2020, 'The Unnecessary Devastation of the Lockdown', Quadrant, vol. 64, 2020, pp. 22 - 26, https://quadrant.org.au/opinion/qed/2020/05/run-the-numbers-survey-the-folly/
    Journal articles | 2020
    Swan PL, 2020, 'The Code of Capital: How the Law Creates Wealth and Inequality by KatharinaPistor (Princeton University Press, Princeton, NJ, 2019), pp. 320', Economic Record, vol. 96, pp. 219 - 221, http://dx.doi.org/10.1111/1475-4932.12549
    Journal articles | 2019
    Swan PL, 2019, 'Investment, the Corporate Tax Rate, and the Pricing of Franking Credits', Economic Record, vol. 95, pp. 480 - 496, http://dx.doi.org/10.1111/1475-4932.12493
    Journal articles | 2016
    Beaumont S; Ratiu R; Reeb D; Boyle G; Brown P; Szimayer A; da Silva Rosa R; Hillier D; McColgan P; Tsekeris A; Howieson B; Matolcsy Z; Spiropoulos H; Roberts J; Smith T; Zhou Q; Swan PL; Taylor S; Wright S; Yermack D, 2016, 'Comments on Shan and Walter: ‘Towards a Set of Design Principles for Executive Compensation Contracts’', Abacus, vol. 52, pp. 685 - 771, http://dx.doi.org/10.1111/abac.12091
    Journal articles | 2016
    Swan PL, 2016, 'Comments on Shan and Walter: Towards a set of design principles', Abacus: a journal of accounting, finance and business studies, vol. 52, http://dx.doi.org/10.1111/abac.12090
    Journal articles | 2016
    Swan PL, 2016, 'Mandated divorce: Company boards, incentives and performance', Law and Financial Markets Review, vol. 10, pp. 133 - 138, http://dx.doi.org/10.1080/17521440.2016.1243880
    Journal articles | 2015
    Swan PL, 2015, 'Do Australians benefit from our greater tolerance for inequality?', The Economic and Labour Relations Review, vol. 26, pp. 678 - 680, http://dx.doi.org/10.1177/1035304615614449
    Journal articles | 2014
    Swan P, 2014, 'The ASX governance council and ‘independent’ boards', Law and Financial Markets Review, vol. 8, pp. 194 - 198, http://dx.doi.org/10.5235/17521440.8.3.196
    Journal articles | 2014
    Smith GS; Swan PL, 2014, 'Do Concentrated Institutional Investors Really Reduce Executive Compensation Whilst Raising Incentives?', Critical Finance Review, vol. 3, pp. 49 - 83, http://dx.doi.org/10.1561/104.00000014
    Journal articles | 2013
    Swan PL; Gallagher D; Gardner P, 2013, 'Governance through Trading: Institutional Swing Trades and Subsequent Firm Performance', Journal of Financial and Quantitative Analysis, vol. 48, pp. 427 - 458, http://dx.doi.org/10.1017/S0022109013000203
    Journal articles | 2011
    Fong KYL; Gallagher DR; Gardner PA; Swan PL, 2011, 'Follow the leader: Fund managers trading in signal-strength sequence', Accounting and Finance, vol. 51, pp. 684 - 710, http://dx.doi.org/10.1111/j.1467-629X.2010.00367.x
    Journal articles | 2009
    Gallagher DR; Gardner PA; Swan PL, 2009, 'Portfolio pumping: An examination of investment manager quarter-end trading and impact on performance', Pacific Basin Finance Journal, vol. 17, pp. 1 - 27, http://dx.doi.org/10.1016/j.pacfin.2007.12.001
    Journal articles | 2009
    Fong KY; Gallagher DR; Lau S; Swan PL, 2009, 'Do active fund managers care about capital gains tax efficiency?', Pacific Basin Finance Journal, vol. 17, pp. 257 - 270, http://dx.doi.org/10.1016/j.pacfin.2008.04.002
    Journal articles | 2009
    Swan PL, 2009, 'The political economy of the subprime crisis: Why subprime was so attractive to its creators', European Journal of Political Economy, vol. 25, pp. 124 - 132, http://dx.doi.org/10.1016/j.ejpoleco.2008.12.005
    Journal articles | 2006
    Swan PL; Merhebi RM; Pattenden K; Zhou X, 2006, 'Australian chief executive officer remuneration: Pay and performance', Accounting and Finance, vol. 46, pp. 481 - 497, http://dx.doi.org/10.1111/j.1467-629x.2006.00178.x
    Journal articles | 2003
    Swan PL; Zhou X, 2003, 'Performance Thresholds in Managerial Incentive Contracts', Journal of Business, vol. 76, pp. 665 - 696, http://dx.doi.org/10.1086/377035
    Journal articles | 1998
    Aitken MJ; Frino A; Mccorry MS; Swan PL, 1998, 'Short sales are almost instantaneously bad news: Evidence from the Australian stock exchange', Journal of Finance, vol. 53, pp. 2205 - 2223, http://dx.doi.org/10.1111/0022-1082.00088
    Journal articles | 1995
    Garvey GT; Swan PL, 1995, 'Shareholder Activism, “Voluntary” Restructuring, and Internal Labor Markets', Journal of Economics & Management Strategy, vol. 4, pp. 591 - 621, http://dx.doi.org/10.1111/j.1430-9134.1995.00591.x
    Journal articles | 1995
    AITKEN MJ; GARVEY GT; SWAN PL, 1995, 'HOW BROKERS FACILITATE TRADE FOR LONG-TERM CLIENTS IN COMPETITIVE SECURITIES MARKETS', JOURNAL OF BUSINESS, vol. 68, pp. 1 - 33, http://dx.doi.org/10.1086/296651
    Journal articles | 1994
    Garvey GT; Swan PL, 1994, 'The economics of corporate governance: Beyond the Marshallian firm', Journal of Corporate Finance, vol. 1, pp. 139 - 174, http://dx.doi.org/10.1016/0929-1199(94)90001-9
    Journal articles | 1994
    SWAN PL, 1994, 'The Taxation of Capital Gains When the Cash Component of Income Is Taxed', Abacus, vol. 30, pp. 160 - 174, http://dx.doi.org/10.1111/j.1467-6281.1994.tb00348.x
    Journal articles | 1993
    Aitken MJ; Swan PL, 1993, 'PRINCIPAL AND AGENCY TRADES BY STOCKBROKERS ARE COMPLEMENTARY: THE WELFARE EFFECTS OF DEREGULATING AGENCY TRADING AND BANNING PRINCIPAL TRADES', Accounting & Finance, vol. 33, pp. 19 - 42, http://dx.doi.org/10.1111/j.1467-629X.1993.tb00197.x
    Journal articles | 1993
    Arthur N; Garvey G; Swan P; Taylor S, 1993, 'Agency Theory and “Management Research” A Comment', Australian Journal of Management, vol. 18, pp. 93 - 102, http://dx.doi.org/10.1177/031289629301800105
    Journal articles | 1993
    Marks RE; Swan PL, 1993, 'Exhaustibility and the reserves/production ratio', Economics Letters, vol. 42, pp. 117 - 119, http://dx.doi.org/10.1016/0165-1765(93)90183-D
    Journal articles | 1992
    Swan PL; Zeitsch J, 1992, 'The Emerging Australian Manufacturing Export Response to Microeconomic Reform', Australian Journal of Management, vol. 17, pp. 21 - 58, http://dx.doi.org/10.1177/031289629201700103
    Journal articles | 1992
    GARVEY GT; SWAN PL, 1992, 'MANAGERIAL OBJECTIVES, CAPITAL STRUCTURE, AND THE PROVISION OF WORKER INCENTIVES', JOURNAL OF LABOR ECONOMICS, vol. 10, pp. 357 - 379, http://dx.doi.org/10.1086/298291
    Journal articles | 1992
    Garvey G; Swan PL, 1992, 'Optimal capital structure for a hierarchical firm', Journal of Financial Intermediation, vol. 2, pp. 376 - 400, http://dx.doi.org/10.1016/1042-9573(92)90010-B
    Journal articles | 1992
    Garvey GT; Swan PL, 1992, 'The interaction between financial and employment contracts: A formal model of Japanese Corporate Governance', Journal of The Japanese and International Economies, vol. 6, pp. 247 - 274, http://dx.doi.org/10.1016/0889-1583(92)90023-W
    Journal articles | 1990
    SWAN PL, 1990, 'Real Rates of Return in Electricity Supply: New South Wales, Tasmania and Victoria', Economic Record, vol. 66, pp. 93 - 109, http://dx.doi.org/10.1111/j.1475-4932.1990.tb01711.x
    Journal articles | 1990
    Swan PL, 1990, 'Inflation drag or taxation in drag: Responsible for the rising share of government in Australian GDP?', Public Choice, vol. 65, pp. 143 - 156, http://dx.doi.org/10.1007/BF00123795
    Journal articles | 1989
    BATESON J; SWAN PL, 1989, 'Economies of Scale and Utilization: An Analysis of the Multi‐Plant Generation Costs of the Electricity Commission of New South Wales, 1970/71–1984/85', Economic Record, vol. 65, pp. 329 - 344, http://dx.doi.org/10.1111/j.1475-4932.1989.tb00686.x
    Journal articles | 1989
    Swan PL, 1989, 'CORPORATISATION, PRIVATISATION AND THE REGULATORY FRAMEWORK FOR THE ELECTRICITY SECTOR', Economic Papers, vol. 8, pp. 55 - 69, http://dx.doi.org/10.1111/j.1759-3441.1989.tb01077.x
    Journal articles | 1988
    Swan PL; Bernstam MS, 1988, 'The Political Economy of the Symbiosis between Labour Market Regulation and the Social Welfare System', Australian Journal of Management, vol. 13, pp. 177 - 201, http://dx.doi.org/10.1177/031289628801300204
    Journal articles | 1986
    BERNSTAM MS; SWAN PL, 1986, 'THE PRODUCTION OF CHILDREN AS CLAIMS ON THE STATE - A COMPREHENSIVE LABOR-MARKET APPROACH TO ILLEGITIMACY IN THE UNITED-STATES, 1960-1980', POPULATION INDEX, vol. 52, pp. 398 - 398, http://dx.doi.org/10.2307/3643635
    Journal articles | 1984
    Swan PL, 1984, 'The Economics of Law: Economic Imperialism in Negligence Law, No‐Fault Insurance, Occupational Licensing and Criminology?', Australian Economic Review, vol. 17, pp. 92 - 108, http://dx.doi.org/10.1111/j.1467-8462.1984.tb00460.x
    Journal articles | 1984
    Swan PL, 1984, 'RESOURCE RENT TAX: THE ISSUES', Economic Papers, vol. 3, pp. 1 - 10, http://dx.doi.org/10.1111/j.1759-3441.1984.tb00458.x
    Journal articles | 1983
    Hillman AL; Swan PL, 1983, 'Participation rules for Pareto-optimal clubs', Journal of Public Economics, vol. 20, pp. 55 - 76, http://dx.doi.org/10.1016/0047-2727(83)90020-8
    Journal articles | 1983
    Swan PL, 1983, 'THE CAMPBELL REPORT AND DEREGULATION', Economic Papers, vol. 2, pp. 177 - 193, http://dx.doi.org/10.1111/j.1759-3441.1983.tb00263.x
    Journal articles | 1983
    SWAN PL, 1983, 'The Marginal Cost of Base‐Load Power: An Application to Alcoa's Portland Smelter', Economic Record, vol. 59, pp. 332 - 344, http://dx.doi.org/10.1111/j.1475-4932.1983.tb00823.x
    Journal articles | 1981
    Swan PL, 1981, 'Durability and taxes: Market structure and quasi-capital market distortion', Econometrica, vol. 49, pp. 425 - 435, http://dx.doi.org/10.2307/1913319
    Journal articles | 1980
    Swan PL, 1980, 'Alcoa: The influence of recycling on monopoly power', Journal of Political Economy, vol. 88, pp. 76 - 99, http://dx.doi.org/10.1086/260848
    Journal articles | 1980
    SWAN PL, 1980, 'The Mathews Report on Business Taxation:Rejoinder', Economic Record, vol. 56, pp. 270 - 277, http://dx.doi.org/10.1111/j.1475-4932.1980.tb01678.x
    Journal articles | 1979
    Hillman AL; Swan PL, 1979, 'Club participation under uncertainty', Economics Letters, vol. 4, pp. 307 - 312, http://dx.doi.org/10.1016/0165-1765(79)90175-7
    Journal articles | 1978
    SWAN PL, 1978, 'The Mathews Report on Business Taxation', Economic Record, vol. 54, pp. 1 - 16, http://dx.doi.org/10.1111/j.1475-4932.1978.tb00312.x
    Journal articles | 1977
    Swan PL, 1977, 'Guaranteed market share arrangements in passenger motor vehicles', Australian Journal of Management, vol. 2, pp. 149 - 160, http://dx.doi.org/10.1177/031289627700200204
    Journal articles | 1977
    SWAN PL, 1977, 'PRODUCT DURABILITY UNDER MONOPOLY AND COMPETITION - REPLY', ECONOMETRICA, vol. 45, pp. 229 - 235, http://dx.doi.org/10.2307/1913299
    Journal articles | 1976
    Swan PL, 1976, 'Income Taxes, Profit Taxes and Neutrality of Optimizing Decisions', Economic Record, vol. 52, pp. 166 - 181, http://dx.doi.org/10.1111/j.1475-4932.1976.tb01576.x
    Journal articles | 1976
    SWAN PL, 1976, 'OPTIMUM REPLACEMENT OF CAPITAL GOODS WITH LABOR-SAVING TECHNICAL PROGRESS - COMPARISON OF EARLY NEW ENGLAND AND BRITISH TEXTILE FIRM', JOURNAL OF POLITICAL ECONOMY, vol. 84, pp. 1293 - 1303, http://dx.doi.org/10.1086/260513
    Journal articles | 1975
    Swan PL, 1975, 'The Coase Theorem and ‘Sequential‘ Pareto Optimality', Economic Record, vol. 51, pp. 268 - 271, http://dx.doi.org/10.1111/j.1475-4932.1975.tb00249.x
    Journal articles | 1974
    SWAN PL, 1974, 'USE OF ECONOMETRIC MODELS BY FEDERAL REGULATORY AGENCIES - STEELE,JL', JOURNAL OF BUSINESS, vol. 47, pp. 456 - 457, http://dx.doi.org/10.1086/295662
    Journal articles | 1973
    Sieper E; Swan PL, 1973, 'Monopoly and competition in the market for durable goods', Review of Economic Studies, vol. 40, pp. 333 - 351, http://dx.doi.org/10.2307/2296454
    Journal articles | 1972
    SWAN PL, 1972, 'OPTIMUM DURABILITY, SECOND-HAND MARKETS, AND PLANNED OBSOLESCENCE', JOURNAL OF POLITICAL ECONOMY, vol. 80, pp. 575 - 585, http://dx.doi.org/10.1086/259906
    Journal articles | 1972
    Swan PL, 1972, 'The influence of monopoly on product innovation: Rejoinder', Quarterly Journal of Economics, vol. 86, pp. 346 - 349, http://dx.doi.org/10.2307/1880572
    Journal articles | 1971
    SWAN PL, 1971, 'DURABILITY OF GOODS AND REGULATION OF MONOPOLY', BELL JOURNAL OF ECONOMICS AND MANAGEMENT SCIENCE, vol. 2, pp. 347 - 357, http://dx.doi.org/10.2307/3003172
    Journal articles | 1970
    Swan PL, 1970, 'Market structure and technological progress: The influence of monopoly on product innovation', Quarterly Journal of Economics, vol. 84, pp. 627 - 638, http://dx.doi.org/10.2307/1880843
    Journal articles | 1968
    SWAN PL, 1968, 'AUSTRALIAN BALANCE OF PAYMENTS AND CAPITAL IMPORTS, 1914-15 TO 1923-24', AUSTRALIAN ECONOMIC PAPERS, vol. 7, pp. 9 - 103, http://dx.doi.org/10.1111/j.1467-8454.1968.tb00154.x
  • Working Papers | 2020
    Swan P; Lin Y; Harris F, 2020, A Model of Maker-Taker Fees and Quasi-Natural Experimental Evidence, http://dx.doi.org
    Working Papers | 2020
    Swan P, 2020, Are "High-Powered" Incentives Confined to when the "Signal-to-Noise" Ratio is Weak?, http://dx.doi.org
  • Other | 2018
    Swan P, 2018, Evidence by Peter Swan and Cross Examination Senate ECONOMICS REFERENCES COMMITTEE Commitment to the Senate issued by the Business Council of Australia, Commonwealth of Australia, Canberra
    Conference Presentations | 2011
    Swan PL; Honeine S, 2011, 'Is Company Performance Dependent on Outside Director 'Skin in the Game'?', presented at 20th Annual Australasian Finance and Banking Conference, Sydney, Australia, http://dx.doi.org/10.2139/ssrn.1746536
    Conference Presentations | 2011
    Masulis R; Swan PL; Tobiansky B, 2011, 'Do Wealth Creating Mergers and Acquisitions Really Hurt Acquirer Shareholders?', presented at Financial Intermediation Research Society, Sydney Australia, 06 June 2011 - 08 June 2011, http://dx.doi.org/10.2139/ssrn.1787605
    Patents | 2011
    Swan PL, 2011, “A Choice Engine”,, Patent No. 2006904543, https://www.google.com/patents/WO2008022384A1?cl=en
    Preprints |
    Masulis RW; Swan PL, Do Wealth Creating Mergers and Acquisitions Really Hurt Bidder Shareholders?, http://dx.doi.org/10.2139/ssrn.2517209
    Preprints |
    Swan PL; Fong KYL; Gardner P; Gallagher DR, Follow the Leader: The Cause and Consequences of Fund Managers Trading in Signal-Strength Sequence, http://dx.doi.org/10.2139/ssrn.508822
    Preprints |
    Swan PL; Fong KYL; Lau S; Gallagher DR, Do Active Fund Managers Care about Capital Gains Tax Efficiency?, http://dx.doi.org/10.2139/ssrn.968871
    Preprints |
    Krug J; Swan PL; Westerholm PJ, Who Benefits from Broker ID Disclosure?, http://dx.doi.org/10.2139/ssrn.3222019
    Preprints |
    Masulis RW; Swan PL; Tobiansky B, The Sharing of Economic Benefits between Acquirers and Targets, http://dx.doi.org/10.2139/ssrn.1746456

Officer of the Order of Australia (AO) for Professor Peter Swan
The UNSW Business School’s Professor Peter Swan, has become an Officer of the Order of Australia (AO) as part of Queen’s Birthday Honours List June 2016.  Citation: ‘distinguished service to finance and commerce as a leading academic, journalist and commentator on domestic investment, and on a range of political and economic issues.’

Scientia Professor
UNSW appointed him to the title of Scientia Professor for the period, January 2003 - December2008, in recognition of international eminence in research.

Member of the Order of Australia (AM) for Professor Peter Swan
In the Queen's Birthday Honours List 9 June 2003 he was appointed as Member of the Order of Australia (AM). Citation: 'For services to academia as a scholar and researcher and through contributions to public policy in the fields of economics and finance'.

FASSA
Peter was elected as a Fellow of the Academy of Social Sciences in Australia (FASSA) in 1997.

Best Paper Prizes

  • Awarded Best Paper Prize for the Madrid European Financial Management Association (EFMA)Conference for “Leading the Herd to Greener Pastures: When Trade Imitation is the Most ‘Profitable’ Form of Flattery,” with Kingsley Fong, David R. Gallagher and Peter Gardner.
  • Awarded $1,500 first prize, for best paper at the FIRN/RMIT Governance Conference, November2005, for a paper on Institutional Monitoring (with Gavin Smith).
  • SIRCA Prize (with Joakim Westerholm) for best paper at Australasian Banking and Finance Conference in 2003.

Other Prizes

  • Qantas–Australian Pacesetter Scholarship in 1969 (Free Round the World Ticket).
  • Institute Prize for Economic History, ANU, 1965.
  • Economics Society Prize for Economics III, ANU, 1965.
  • Economics Society Prize for Economics II, ANU, 1964.

  • FINS5576 Asset Pricing Theory
  • FINS5593 Microstructure of Markets
  • MFIN6210 Empirical Studies in Finance