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Financial Education and Research Centre (Fin-Ed Centre)

We work to help New Zealanders become more financially savvy by improving their knowledge, attitudes and behaviour towards money.

Research projects

Consultancy, publications, in the media.

The Fin-Ed Centre is globally unique for the breadth of its work covering education, research and consultancy. It is New Zealand’s leading research centre on the financial capability and wellbeing of New Zealanders and an Affiliate Member of the OECD International Network of Financial Education – the only member from a New Zealand education institution.

Established in 2011, the Fin-Ed Centre was a joint initiative between the Westpac New Zealand Bank and Massey University. The centre now operates under the sole management of Massey University and is recognised internationally for its work in financial education and research.

Our expertise

• Financial capability research, evaluation and consultancy.
• Delivering culturally responsive training, professional development and resources.
• Advocacy and financial literacy and management.

Our vision – tā mātou whakakitenga

New Zealanders are financially empowered to achieve a better quality of life.

Our mission – tā mātou kaupapa mātāmua

To help New Zealanders become more financially astute by improving their knowledge, attitudes and behaviour towards money.

We are constantly working on research that is relevant for businesses and individuals looking to increase their financial capability.

This includes research into housing decisions, saving for retirement and giving our children (better) financial literacy skills. Our research is publicly available.

Financial education in schools: a Kiwi solution

A comparative study:

• International comparison of what is happening in other developed economies.
• What will work at the primary level?
• Barriers and solutions.

Research lead: Associate Professor Jodie Hunter, David Kneebone and Fin-Ed Centre research associates.

Cultural pressures faced by young people when managing money

Quantitative and qualitative research – this project explores the cultural pressures faced by young people when managing money and the role culture plays on their financial behaviour.

Research lead: Dr Pushpa Wood and Fin-Ed Centre research associates.

KiwiSaver and retirement preparedness

Qualitative research – interviews and focus groups.

The goal of this project is to answer:

• What is happening in New Zealand and developed economies to address the gender imbalance in retirement planning and investment?
• Are ethnic women really prepared for their retirement?

Research lead: Professor Martin Young, Associate Professor Claire Matthews, Professor David Tripe and Dr Pushpa Wood.

Has COVID-19 changed financial behaviour?

Qualitative research:

• How has COVID-19 changed financial behaviour of people and financial institutions?

Research lead: Professor David Tripe and a Fin-Ed Centre research associate.

Financial education courses and micro-credentials

We run tailor-made and bespoke courses for individuals, groups and organisations.

As well as financial management courses, we also train those who wish to teach personal financial management.

Our courses are affordable and practical. Many are available through distance and online learning, so you can learn when and where it suits you.

Complaint Response and Management

This micro-credential course builds the technical and soft skills required to improve customer outcomes in complaint response and management in the financial services sector.

Money Smarts @ Work

Reach your goals in life with this quick and easy short course about managing your money, offered with industry groups. Understand budgeting and saving, and learn how to manage debt and protect what matters to you.

Financial Capability Practitioners Course

Gain the tools, knowledge and confidence to educate your communities in personal financial management, enhance their financial capability and make a difference to their financial wellbeing with this micro-credential.

New Zealand Anti Money Laundering Compliance Officer (NZAMLCO)

This micro-credential will develop your confidence and give you the tools and knowledge to comply effectively with the AML/CFT Act within the scope of your own business.

Our team has international experience in academic research and a reputation for promoting research that has a community and stakeholder impact.

Dr Pushpa Wood (ONZM)

Dr Wood has worked across the education and industry sectors to improve financial and adult literacy. She has extensive experience developing teaching and learning resources, training and development and stakeholder relationship. Her research interests include identifying trigger points that motivate people to change their financial behaviour and testing culturally appropriate evaluation tools.

• View Pushpa Wood (ONZM)'s profile

Professor Sasha Molchanov

Sasha became the Acting Head of School of Economics and Finance after serving six years as an Associate Head of School. His research interests are in the fields of investments, international finance, econometrics, politics, and market design. Sasha is a faculty mentor of the Student Investment Club

• View Sasha Molchanov's profile

Associate Professor Claire Matthews

Claire's research interests centre around retail banking, the provision of financial advice, and financial literacy, with a particular focus on consumers’ financial choices, KiwiSaver, switching costs, internet banking, payment systems, and the role of the branch.

She is a member of the Institute of Finance Professionals New Zealand Inc and the Financial Services Institute of Australasia.

• View Claire Matthews's profile

Dr Jeffrey Stangl

Jeff’s career traverses business and academia. During his business career, his focus was innovative start-up companies, international business and investment. His research encompasses the interface between academia and the finance sector – building financial capability and improving investor education. He's a founding Board Member of the Financial Education Research Centre.

• View Jeffrey Stangl's profile

Professor David Tripe

David is a specialist in the area of Banking, with some interest in the related fields of property (and its role in banking), economics (with a particular focus on monetary policy) and areas of finance such as corporate governance.

Before joining Massey in 1994, David worked for 17 years in the banking sector in New Zealand, and he continues his interest in developments in the banking sector.

Professor Martin Young

Professor Martin Young has a long association with Massey University and has also held senior positions in the financial industry in New Zealand. He is Chair of the Asian Shadow Financial Regulatory Committee and serves on the editorial boards of several journals. His research interests are market efficiency, financial regulation, funds management, optimization and bond and derivatives pricing.

• View Martin Young's profile

Our expertise is available on a consultancy basis to help with your financial literacy needs. Contact us to find out how we can help.

Two examples of our work are evaluation of literacy pilot project and focus groups in New Zealand and providing a financial literacy campaign in Timor Leste.

Commission for Financial Literacy and Retirement Income

The Fin-Ed Centre has been working with the Commission for Financial Literacy and Retirement Income to evaluate two financial literacy pilot projects. The centre has also been involved in running focus groups for the Commission to inform their wider research project, Improving Women’s Future Retirement Prospects.

Fin-Ed has also provided comments and feedback to various media outlets on topics related to personal financial management. Other projects in this area include reviewing teaching and learning material developed by other organisations.

Financial literacy in Timor Leste

The Fin-Ed Centre has signed a contract with Banco Central de Timor Leste to advise and assist with a financial literacy awareness campaign. The centre will also plan and design modules for 'Training of Trainer' and delivery of training to selected staff.

Retirement Expenditure Guidelines

We are working with Workplace Savings NZ on New Zealand’s first Retirement Expenditure Guidelines to help prepare New Zealanders for the cost of living in retirement.

Download a copy of the guidelines.

New Zealand Retirement Expenditure Guidelines – 2023 (PDF, 1.1MB)

New Zealand Retirement Expenditure Guidelines – 2022 (PDF, 979KB)

New Zealand Retirement Expenditure Guidelines - 2021 (PDF, 760KB)

New Zealand Retirement Expenditure Guidelines - 2020 (PDF, 768KB)

New Zealand Retirement Expenditure Guidelines - 2019 (PDF, 2.5MB)

New Zealand Retirement Expenditure Guidelines - 2018 (PDF, 2.3MB)

New Zealand Retirement Expenditure Guidelines - 2017 (PDF, 2.5MB)

New Zealand Retirement Expenditure Guidelines - 2016 (PDF, 1.4MB)

New Zealand Retirement Expenditure Guidelines - 2015 (PDF, 187KB)

New Zealand Retirement Expenditure Guidelines - 2014 (PDF, 460KB)

New Zealand Retirement Expenditure Guidelines - 2013 (PDF, 365KB)

New Zealand Retirement Expenditure Guidelines - 2012 (PDF, 365)

Financial literacy longitudinal study

Some 300 New Zealanders aged 18 to 20 are taking part in a baseline survey of their financial literacy and experience of financial education. Starting in 2012, the same participants get surveyed every five years for 20 years to understand their needs for financial knowledge at different life stages.

Download a copy of the latest update.

Longitudinal Study Stage 3 – August 2023 (PDF, 11.64MB)

Longitudinal Study Interim Update – February 2021 (PDF, 541KB)

Longitudinal Study Interim Update – February 2020 (PDF, 1.2MB)

Longitudinal Study Stage 2 – January 2019 (PDF, 3.1MB)

Longitudinal Study Stage 2 – March 2018 (PDF, 861 KB)

Longitudinal Study Interim Update – September 2016 (PDF, 365KB)

Longitudinal Study Interim Update – 2014 (PDF, 361KB)

Longitudinal Study Stage 1 – December 2013 (PDF, 817KB)

Longitudinal Study Stage 1 – Ngāi Tahu sub-cohort – September 2013 (PDF, 921KB)

NZ Financial Education Centre Newsletter

Massey University Fin-Ed Newsletter – February 2024

Previous newsletters

Subscribe to our quarterly newsletter

Relationships gain strength with financial discipline , Indian Newslink, 10 March 2024

Insurance & Financial Services Ombudsman Scheme , IFSO, 19 February 2024

Getting back on track with money: Pushpa Wood , RNZ, 4 January 2024

The bitter truth about the 'bank of mum and dad' , Star News (ODT), 28 December 2023

Dr Pushpa Wood joins other New Zealand leaders in a panel discussion on Building Consumer Confidence at the Financial Services Council 2023 annual conference.

Dream Walking into Retirement – NZ Everyday Investor podcast with Claire Matthews , Podcast, February 2022

Making sense of money – Conversations that Count – Ngā Kōrero Whai Take, Stacey Morrison is joined by Dr Pushpa Wood and Kendall Flutey , Podcast, July 2021

Business research news

The squeeze continues with persistent decline in housing affordability.

The latest Home Affordability Report from Te Kunenga ki Pūrehuroa Massey University reveals a continued decline in national affordability during the most recent quarter, primarily attributed to the increase in median house prices and mortgage interest rates.

Sexual harassment revealed to affect one third of workforce

A recent study has revealed that one third of the Aotearoa New Zealand workforce has reported experiencing sexual harassment in the workplace in the last six months.

Retirement planning a moving target

The latest Retirement Expenditure Guidelines shows the cost of living is a key issue in current financial management and retirement planning, with excess expenditure above NZ Superannuation having increased for all retired household groups.

Opinion: Population challenge – A nation without a plan

By Dr Pushpa Wood and Crayon CEO and founder Stephanie Pow with contributions from Dr Adnan Balloch.

Fin-Ed Centre

Postal address Financial Education and Research Centre Massey University PO Box 756 Wellington 6140 New Zealand

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Professor Hamish Anderson

Personal Profile

Hamish is a qualified chartered accountant with big four accounting firm work experience prior to joining Massey University. Hamish has taught on Massey's Executive MBA programme for over 20 years and is recognised for his contribution to teaching through receiving International , New Zealand and University excellence in teaching awards. He has published in internationally respected journals, including Journal of Banking & Finance , Emerging Markets Review, The Financial Review, Pacific-Basin Finance Journal , and Journal of Business Finance and Accounting , as well as policy, law and practitioner journals.

Research Interests

• Corporate Finance Aspects of Private Equity Placements
• Stock Dividends and Other Capital Issues and Reconstructions
• Merger and Acquisition Activity
• Microstructure and Short-selling

My personal research goal is: To conduct and publish quality academic research that has relevance to industry and enriches my teaching. In order to enrich my teaching I need to demonstrate real world application in my research projects. I have developed expertise in areas of seasoned equity offerings including stock dividends, public and private equity issues as well as mergers and acquisitions. A key theme running through my research is the impact of regulation or market structures on shareholder wealth and its impact on investor and management behaviour.

Selected Publications

Xie, F., Anderson, H.D., Chi, J., and Liao, J., (2019) Does residual state ownership increase stock return volatility? Evidence from China's secondary privatization. Journal of Banking & Finance , Forthcoming

Chang, Y.Y., Anderson, H.D., and Shi, S. (2018). China and International Housing Price Growth. China Economic Review . 50, 294-312

Ma, R., Anderson, H.D., and Marshall, B.R. (2018). Market volatility, liquidity shocks, and stock returns: worldwide evidence. Pacific-Basin Finance Journal . 49, 164-199

Wang, Q., Anderson, H.D., and Chi, J. (2018). VC political connections and IPO earnings management. Emerging Markets Review , 35, 148-163

Ma, R., Anderson, H.D. & Marshall, B.R. (2018) Stock market liquidity and trading activity: Is China different? International Review of Financial Analysis , 56, 32-51

Wang, Q., Anderson, H.D., & Chi, J. (2017) The impact of VC backing on the corporate governance of Chinese IPOs. Pacific Accounting Review , 29 (16), 330-355

Anderson, H.D., Chi, J., & Wang, Q. (2017) Political ties and VC exits: Evidence from China. China Economic Review , 44, 48-66

Ma, R., Anderson, H.D. & Marshall, B.R. (2016) International Stock Market Liquidity: A Review Managerial Finance , 42(2) 118-135

Smith, D.J., Chen, J., & Anderson, H.D. (2015) The influence of firm financial position and industry characteristics on capital structure adjustment. Accounting & Finance , 55(4), 1135-1169

Anderson, H., Dunstan, A., & Marshall, B.R. (2015). Cultural Stock Price Clustering in the Chinese Equity Market. Chinese Economy , 48, 449-467

Malone, C.B., Anderson, H.D. & Chen, P. (2015) Firm size and the political cycle premium. Managerial Finance, , 41(10), 1077-1095

Anderson, H.D., Chi, J., & Wang, Q. (2015) IPO performance on China’s newest stock market (ChiNext). Chinese Economy , 48(2), 87-113

Anderson, H.D., Marshall, B.R. & Wang, X. (2015) Cross-Sectional Return Patterns in New Zealand’s Registered and OTC Stock Markets Pacific Accounting Review , 27(1), 51-68

Anderson, H.D., Marshall B.R. & Miao, J. (2014) The Permanent Portfolio. Applied Financial Economics , 24(16), 1083-1089

Anderson, H.D. and Peng, Y. (2014). From cents to half-cents and its liquidity impact. Pacific Accounting Review , 26(3), 160-176

Sharif, S., Anderson, H.D., & Marshall, B.R. (2014). Against the Tide: The Commencement of Short Selling and Margin Trading in Mainland China. Accounting & Finance , Vol. 54(4), 1319-1355

Sharif, S., Anderson, H.D. & Marshall, B.R. (2014). The Announcement and Implementation Reaction to China’s Margin Trading and Short Selling Pilot Programme International Journal of Managerial Finance - Vol. 10(3), 368-384

Anderson, H.D. (2013) NZX joins the race to minimise tick size. Applied Finance Letters , 2(2), 6-13.

Anderson, H.D., Malone, C.B. & Marshall, B.R. (2012). Time Diversification in Developed and Emerging Markets. Journal of Emerging Market Finance, Vol. 11(2), pp. 115–144

Smith, D., Chen. J. & Anderson, H.D. (2012). The relationship between capital structure and product markets: Evidence from New Zealand. Review of Quantitative Finance and Accounting , 38(1), 1–24 DOI 10.1007/s11156-010-0216-x

Anderson, H.D., Chi, J., Ing-aram, C. and Liang, L. (2011) Stock dividend puzzles in China. Journal of the Asia Pacific Economy , 16(3) 422-447

Anderson, H.D., Marshall, B.R., & Wales. R. (2009). What is the Relationship between Investor Protection Legislation and Target Takeover Returns? Evidence from Europe. Journal of Multinational Financial Management , Vol. 19(4), pp. 291-305.

Marshall, B.R. & Anderson, H.D. (2009). Regulation and Target Takeover Returns: Is There a Link? Pacific-Basin Finance Journal , Vol. 17(4), pp. 395-412.

Anderson, H.D. (2009). Formative Assessment: Evaluating the Effectiveness of On-line Quizzes in a Core Business Finance Course. The Journal of Distance Learning , Vol. 13(1), pp. 26-40.

Anderson, H.D. (2008). Private equity: self regulation. The New Zealand Law Journal , Vol. 9, pp. 366-369.

Anderson, H.D., Malone, C.B. & Marshall, B.R. (2008). Investment Returns Under Right- and Left-Wing Governments in Australasia. Pacific Basin Finance Journal , Vol. 16(3), pp. 252-267.

Anderson, H.D. & Marshall, B.R. (2007). Takeover Motives in a Weak Regulatory Environment Surrounding a Market Shock: A Case Study of New Zealand with a Comparison of Gondhalekar and Bhagwat’s (2003) U.S. Findings. Review of Quantitative Finance and Accounting , Vol. 29(1), pp 53-67.

Chen J.G., Kuang Leong, K & Anderson. H.D. (2007). Size, book/market ratio and risk factor returns: evidence from China A-share market. Managerial Finance , Special Issue on risk, capital asset pricing, and accounting numbers. Vol. 33(8), pp. 574-594.

Anderson H.D. & Rose L.C. (2007). Firm quality and the placement price of private equity. FSR Fourm , Vol. 9(2), pp. 7-12.

Anderson H.D. & Rose L.C. (2006). Pricing effects of private seasoned equity issues in New Zealand's laissez-faire regulatory environment. Journal of Financial Transformation , Vol. 18, pp. 71-78.

Anderson, H.D., Rose, L.C. & Cahan, S.F. (2006). Differential Shareholder Wealth and Volume Effects Surrounding Private Equity Placements in New Zealand. Pacific Basin Finance Journal , Vol. 14, pp. 367-394.

Anderson, H.D., Cooper, S. & Prevost, A.K. (2006). Block Trade Price Asymmetry and Changes in Depth: Evidence from the Australian Stock Exchange. The Financial Review , Vol. 41(2), pp. 247-271.

Anderson, H.D.(2006). Discounted Private Placements in New Zealand: Exploitation or Fair Compensation? Review of Pacific Basin Financial Markets and Policies (RPBFMP) , Vol. 9(4),pp. 533-548.

Anderson, H.D., Rose, L.C. & Cahan, S. (2004). Odd-lot costs and taxation influences on stock dividend ex-dates. Journal of Business Finance and Accounting , Vol. 31(9 & 10), pp. 1419-1448.

Black, C., Parry, J., Anderson, H.D. & Bennett, J.A. (2002). Are New Zealand chief financial officiers the ‘country cousins’ of their American counterparts? University of Auckland Business Review . Vol. 4 (1), pp. 46-56.

Anderson H.D., Cahan S., & Rose L.C. (2001). Stock Dividend Announcement Effects in an Imputation Tax Environment. Journal of Business Finance & Accounting, Vol. 28(5 & 6) June/July 2001.

Anderson, H.D., Rose, L.C., & Cahan, S. (2001). Taxable bonus issues. Are they a good way to distribute imputation credits? University of Auckland Business Review . Vol. 3(1), pp. 48-54.

Anderson, H.D. (1999). Disclosure practices of research and development activities by New Zealand companies. Chartered Accountants Journal , Vol. 78(9), pp. 74-77.

Anderson, H.D. (1996). The use of R&D information by New Zealand’s sophisticated sharemarket participants. New Zealand Journal of Business . Vol. 17(1), pp. 27-39.

Anderson, H.D. (1995). Financial reporting: research and development. Chartered Accountants Journal, Vol. 74(9), pp. 32-34.

Anderson, H.D. and Marshall, B.R. (2011) Financial regulation: market and valuation impacts [Guest Editorial]. Pacific Accounting Review , 23 (3), 220-223

Malone, C., Marshall, B.R. & Anderson, H.D. (2009). Doing the hokey-tokey in asset markets. ISCR Competition and Regulation Times , Issue 28, pp. 6-7.

Marshall, B.R. & Anderson, H.D. (2008). Yes! Regulation does affect a takeover target’s returns. ISCR Competition and Regulation Times , Issue 27, pg. 12.

Anderson, H.D. (2008). Private Affairs. Private-equity placements and self-regulation. ISCR Competition and Regulation Times . Issue 26, pp. 1-3.

Anderson, H.D. (2006). Venture capital and private equity funding. Chartered Accountants Journal of New Zealand , Vol. 85(10), pg. 62.

Ma, R., Anderson, H.D. & Marshall, B.R. (2018). Market Volatility, Liquidity Shocks, and Stock Returns: Worldwide Evidence. Accounting and Finance Association of Australia and New Zealand (AFAANZ) Conference , Auckland, July 2018

Anderson, H.D., Liao, J., Yang, J., & Young, M. (2018) Party Committee Secretary serving on corporate boards and firm bribery. FMA Asia Pacific Conference , Hong Kong, April 2018

Chang, Y.Y., Anderson, H.D. & Shi, S. (2018) China and International Housing Price Growth. FMA Asia Pacific Conference em, Hong Kong, April 2018

Ma, R., Anderson, H.D. & Marshall, B.R. (2018) Market Volatility, Liquidity Shocks, and Stock Returns: Worldwide Evidence. Financial Markets and Corporate Governance Conference , Melbourne, Australia, April 2018

Anderson, H.D., Liao, J., Yang, J., & Young, M. (2018) Party Committee Secretary serving on corporate boards and firm bribery. New Zealand Finance Colloquium , Palmerston North, February 2018

Chang, Y.Y., Anderson, H.D. & Shi, S. (2018) China and International Housing Price Growth. New Zealand Finance Colloquium , Palmerston North, February 2018

Ma, R., Anderson, H.D. & Marshall, B.R. (2018) Market Volatility, Liquidity Shocks, and Stock Returns: Worldwide Evidence. New Zealand Finance Colloquium , Palmerston North, February 2018

Anderson, H.D., Liao, J., Yang, J., & Young, M. (2017) Party Committee Secretary serving on corporate boards and firm bribery. China Finance Association , Shanghai, China, November 2017

Anderson, H.D., Chi, J., & Liao, J. (2017) Foreign strategic ownership and minority shareholder protection: Evidence from China. International Corporate Governance Society , Rome, Italy, September 2017

Chang, Y., Anderson, H.D., & Shi, S. (2017) China and international housing price growth. American Real Estate and Urban Economics Association (AREUEA) International Conference , Amsterdam, The Netherlands, July 2017

Ma, R., Anderson, H.D. & Marshall, B. (2017) Stock Market Liquidity and Trading Activity in China. China Accounting and Finance Conference , Beijing, June 2017

Anderson, H.D., Chi, J., & Liao, J. (2017) Foreign strategic ownership and minority shareholder protection: Evidence from China. Financial Markets and Corporate Governance Conference , Wellington, New Zealand April 2017

Chang, Y., Anderson, H.D., & Shi, S. (2017). China and international housing price growth. European Financial Management Symposium , Xiamen, China, April 2017

Ma, R., Anderson, H.D. & Marshall, B. (2016) Risk Perceptions and International Stock Market Liquidity. Australasian Finance & Banking Conference , Sydney, December 2016

Wang, S., Anderson, H.D., & Chi, J. (2015) VC participation and IPO earnings management: Evidence from China. New Zealand Finance Colloquium , Hamilton, February 2015

Sharif, S., Anderson, H.D., & Marshall, B.R. (2011) Against the Tide: The Commencement of Short Selling and Margin Trading in Mainland China. Australian Finance and Banking Conference , Sydney, December 2011.

Anderson, H.D., Chi, J., Ing-aram, C. & Liang, L. (2011) Stock dividend puzzles in China. New Zealand Finance Colloquium, Christchurch, February 2011.

Smith, D.J., Chen, J.G., & Anderson, H.D. (2008). The relationship between capital structure and product markets: Evidence from New Zealand. New Zealand Finance Colloquium , Palmerston North, February 2008.

Marshall B.R. & Anderson, H.D. (2008). How Does Regulation Affect Takeover Returns? New Zealand Finance Colloquium , Palmerston North, February 2008.

Anderson, H.D., Malone, C.B. & Marshall, B.R. (2007). Investment Returns Under Right Versus Left Leaning Governments In Australasia. New Zealand Finance Colloquium , Auckland, February 2007.

Anderson, H.D. (2006). Discounted Private Placements in New Zealand: Exploitation or Fair Compensation? Asian FA/FMA Conference , Auckland, New Zealand.

Anderson, H. & Marshall, B.R. (2006). Takeover Motives in a Weak Regulatory Environment Surrounding a Market Shock. Accounting and Finance Association of Australia and New Zealand (AFAANZ) Conference , Wellington, July 2006.

Marshall, B.R. & Anderson, H.D. (2006). Regulation and Target Takeover Returns: Is There a Link? The Reserve Bank of New Zealand Workshop on Capital Market Development , Wellington, June 2008.

Anderson, H.D., Rose, L.C. & Cahan, S. (2004). Differential shareholder wealth effects of private equity placements in New Zealand. FMA 2004 Annual Meeting , 5 Oct-9 Oct 2004, New Orleans, Louisiana.

Chen, J.G., Kwong,L.K.,and Anderson,H. (2004). Size, book/market ratio and risk factor returns: evidence from China A-Share market. Asian FMA , Taiwan, July 2004.

Anderson, H.D., Rose, L.C. & Cahan, S. (2004). Differential shareholder wealth effects of private equity placements in New Zealand. FMA European Conference , Zurich, 2-5 June 2004.

Anderson, H.D., Cahan, S. & Rose, L.C (2003). Odd-Lot Costs and Taxation Arguments for the Ex-Date Price Effects of Stock Dividends. FMA European Conference , Dublin, Ireland June 4-6.

Anderson, H.D., Cooper, S. & Prevost, A.K.(2002). Does Depth Help Explain the Asymmetric Price Response Puzzle? Evidence from the Australian Stock Exchange. Financial Management Association Conference , San Antonio, USA.

Anderson, H. D. & Smee, A.K. (2002). On-line mastery quizzes for assessment purposes. Distance Education Association of New Zealand Conference , Wellington, New Zealand. ISBN 0-9598036-3-7.

Anderson, H. D. & Smee, A.K. (2002). A change in practice: Implementing on-line mastery quizzes for assessment purposes. WebCT Asia Pacific 2002 Conference , Melbourne, Australia.

Anderson, H.D.(1999). Bonus Issues: Announcement Effects in an Imputation Tax Environment. Asia-Pacific Finance Association Conference .

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• 125230 Business Finance
• 115724 Business Finance

Awards and Scholarships

• Pearson Accounting/Finance Lecturer for 2009
• National Tertiary Teaching Excellence Award for Sustained Excellence, 2008
• Massey University Vice Chancellor’s Award for Sustained Teaching Excellence, 2008
• Massey University College of Business Pro-Vice Chancellor Grant for PBRF Performance, 2007
• Massey University Research Fund (MURF) Grant, 2006 (with Ben Marshall and Chris Malone)
• PricewaterhouseCoopers Global Competency Grant, 2006 (with Ben Marshall and Ryan Wales)
• Massey University Best College of Business Postgraduate Teacher Award, 2001
• Massey University Research Fund (MURF) Grant, 2000 (with Carolyn Wirth, Andrea Bennett and Jenny Parry)
• New Zealand Institute of Chartered Accountants (NZICA) PhD Scholarship, 1999
• Institute of Chartered Accountants of New Zealand (ICANZ) Top 3rd Year Accounting Student, 1992

Professional Societies/ Service/ Other Activities

Special issue guest editor for Pacific Accounting Review on Financial regulation: market and valuation impacts (2011), and Managerial Finance on Interdisciplinary Finance (2018). Chartered Accountant (CA) Member of the Chartered Accountants of Australia and New Zealand. Member of the Editorial Board for the Managerial Finance journal. Acted as a referee for wide range of journal including: Acted as a Referee for:

• Journal of Banking and Finance
• Emerging Markets Review
• Financial Review
• Pacific Basin Finance Journal
• International Review of Financial Analysis
• Accounting and Finance
• Review of Quantitative Finance and Accounting

Last updated on February 8, 2019

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Massey University Doctoral Scholarship

Scholarship overview, application dates, restrictions.

The award of the scholarship focuses on the academic excellence of the student, without limiting the selection to GPA, as well as ensuring that decisions are made in line with the University, College, and School research strategies. The Massey University Doctoral Scholarship acknowledges the unique contribution that Māori and Pacific students make to academic research. Massey is committed to promoting equity of access to learning, teaching, and research.

The expectation is that recipients of the Doctoral Scholarship will enrol in their doctoral study no later than 1 March of the year following selection.

The Massey University Doctoral Scholarship is available to full-time and part-time candidates enrolled in the Doctor of Philosophy (PhD), Doctor of Clinical Psychology (DClinPsych) or Doctor of Social Work (DSW). There are also named scholarships for Māori and Pacific doctoral candidates. This is a scholarship for a stipend plus fees.

When you apply you need to ask your supervisor to complete the Supervisor Support Template . You will need to upload the completed form in the Student Portal when you submit your scholarship application.

Who we're looking for

We're looking for students with a record of high academic achievement who are undertaking doctoral research of strategic importance.

What you'll be studying

This is a postgraduate scholarship. You will have an admission offer of place for doctoral study or be enrolled within the first 12 months of a doctoral degree at the time of application closing date.

Eligibility criteria

You should:

• be enrolled in the first 12 months of doctoral study, or have an offer of place for doctoral study at Massey University
• have a GPA of 7.0 or higher
• be researching a topic of strategic value to the University
• agree to the conditions of the scholarship as outlined in the scholarship regulations

Successful applicants must be enrolled in their doctoral programme no later than 1 March of the year following the award.

You are expected to have secured admission into your chosen doctoral programme (and have either a conditional or unconditional offer of place letter) prior to the scholarship closing date. You should normally allow a minimum of 4 weeks for admission applications to be processed. Information on how to apply for admission can be found on our website .

Application checklist

Include the following with your application:

• a research outline including the key disciplinary area(s) of research in the proposed project, the aims and significance of the study, and the theoretical and methodological frameworks (200-1000 words)
• A completed Supervisor Support Template. Your primary supervisor must complete the above linked form. You will then need to upload it in your Student Portal when you apply for the Massey Doctoral Scholarship.

Selection considerations

When choosing our recipient, we will consider your academic achievements along with the alignment of your research to the strategic priorities of the University, College and research supervisor(s).

Download the regulations

Current massey students.

Log in to the student portal and find the Scholarships tab .

Not currently enrolled at Massey?

To apply for scholarships you will need access to the student portal. Get this by applying for the qualification you want to study.

Apply to study at Massey

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Massey University

www.massey.ac.nz

The Times Higher Education World University Rankings is the only global university performance table to judge research-intensive universities across all of their core missions: teaching, research, knowledge transfer and international outlook.

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The Doctor of Philosophy (Massey Business School) is an essential qualification for those students who seek an academic, research or corporate career at a high level. To do a PhD you need to have a passion for the subject, to pursue it to the limit, and make your own contribution to the body of knowledgeNew Zealand’s sole national business school.

Massey Business School (MBS) offers a PhD programme for the 21st century in a peaceful and thriving country. It is New Zealand’s sole national business school with campuses in Auckland, Palmerston North and Wellington .

Massey Business School faculties are actively researching, bringing cutting-edge developments in both business theory and practice to provide you with a world-class degree.

There are regular research seminars where PhD candidates are given an opportunity to discuss their research and get feedback on their progress. We support and provide training for all candidates to participate in the annual university 3MT (Three-Minute Thesis) competition.

Working towards a PhD can be a lonely journey and we place a strong emphasis on pastoral care. To create a community of scholars across disciplines, Massey Business School hosts an annual PhD symposium which gives students from the three campuses an opportunity to interact with each other, present their research and receive feedback from the staff and their peers. We also hold social gatherings with the PhD candidates twice a year to discuss any issues that arise in relation to their work and progress. In addition each campus has its own PhD events like pizza nights”with guest speakers. We consider and treat our PhDs as colleagues and not as ‘students’.

The Massey library offers regular workshops on key aspects of the research journey and Massey’s Graduate Research School offers workshops to assist with the development of students’ research skills.

PhD candidates can also access the UK Vitae platform which provides access to a large number of resources to assist in their development as researchers as well as job opportunities globally. Massey is the only New Zealand University which subscribes to Vitae.

Enrolment for the PhD degree is available to people who have completed a Bachelors or Masters degree with First Class Honours or Second Class Honours (Division I) or who hold comparable qualifications. 

The PhD requires independent research followed by the submission of a thesis based on the research. Candidates are expected to make a significant contribution to the knowledge and understanding of their field of study.

MBS offers a number of PhD scholarships to domestic and international applicants with excellent academic records. The scholarships are considered in two rounds with deadlines on 1 March and 1 October each year.

Business Administration

Southern Cross University

University of Nottingham

Rice University

Australian Institute of Business

Business analytics.

Free University Amsterdam

Charles Sturt University

Business organization.

King Juan Carlos University

Victoria University

Commerce and business.

National University of Ireland

Economic, business and legal sciences.

University of Jaen

Deadline information.

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About / Departments

Finance Department | PhD Program

Phd program.

Our faculty, ranked #1 worldwide based on publications in top finance journals (ASU Finance Rankings), consists of more than 30 researchers who study all major areas of finance, making it one of the largest finance faculty in the country. Stern’s finance faculty is highly rated in terms of research output, and faculty members sit on the editorial boards of all major finance journals.

The finance department offers an exceptionally large range of courses devoted exclusively to PhD students. Apart from core PhD courses in asset pricing and corporate finance, students can choose from a range of electives such as household finance, macro-finance, and financial intermediation. PhD students also enjoy the benefits of Stern’s economics department, NYU’s economics department in the Graduate School of Arts and Science (GSAS), and the Courant Institute of Mathematics.

Graduates of Stern’s Finance PhD program have been placed at leading research institutions such as Harvard, MIT, Chicago, Stanford, Wharton, Yale, and UCLA.

Holger Mueller , Finance PhD coordinator

More information on the Finance PhD

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Fogelman College - Department of Finance, Insurance and Real Estate

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Graduates of the Finance Program

Dr. Osamah Mohammad Alkhazali is a Professor and interim head of Department of Finance at School of Business and Management of American University of Sharjah. He graduated from University of Memphis in Winter of 1997.

Dr. Asli Ascioglu is a Professor of Finance and Department Chair at Department of Finance of Bryant University, Smithfield, RI. She earned her doctorate degree from The University of Memphis in 2000. At Bryant, she has served as the coordinator of the C.V. Starr Financial Markets Center educational trading room, where she directed the academic integration of the trading room resources into the Bryant curriculum. Her research interests are in market microstructure covering topics such as market liquidity, information asymmetry, and order execution quality. She has published papers in academic journals such as Financial Review, Journal of Financial Research, Journal of Financial Services and Journal of Accounting and Public Policy.

Dr. Charlie Charoenwong is an Associate Professor in the Banking and Finance Division at Nanyang Technological University where he is also the Acting Director, Centre for Research in Financial Services. Prior to NTU, Professor Charoenwong taught at Chulalongkorn University, Bangkok, Thailand. While in Thailand, he was frequently invited to teach at various universities. At NTU, he teaches Derivatives, Financial Modeling, Financial Management, and Seminar in Finance Theory at both undergraduate and postgraduate levels. Professor Charoenwong publishes widely in international refereed journals such as Journal of Banking and Finance, Financial Management, Financial Review, Journal of Risk and Insurance, Review of Quantitative Finance and Accounting, and Advances in Pacific Basin Financial Markets. His current research interests are in market microstructure, market efficiency, investments, and corporate finance.

Dr. Jeng-Hong Chen received his Ph.D. degree in Finance in Summer 2004. Dr. Quentin C. Chu is his dissertation chair. Dr. Chen worked as an Assistant Professor of Finance at Albany State University. He is an Associate Professor of Finance at Central State University, USA.

Dr. Chiraphol Chiyachantana is an Assistant Professor of Finance at Singapore Management University. Previously, he taught at California State University where he was an Assistant Professor. He has published his research in leading journals such as Journal of Finance, Journal of Banking and Finance and Financial Review. His current research interest in is market microstructure and international finance.

Dr. Chairat Chuwonganant is a Professor at Kansas State University. He has published his research in Journal of Financial Economics, Financial Management, Journal of Banking and Finance, Journal of Financial Intermediation, Journal of Financial Markets, Review of Quantitative Finance and Accounting. His current research interest is in market microstructure, investments, roles of securities analysts in financial markets.

Dr. David Ding is Professor of Finance and Associate Head of the School of Economics and Finance at Massey University, Albany, New Zealand. Immediately before this appointment, he was an Associate Professor of Finance Practice at the Singapore Management University where he was also the Director of the Master of Applied Finance (China) program. Prior to SMU, he was the Foundation Professor of Finance at the University of New South Wales' Asian campus. David's other academic experience includes appointments as Director of the Center for Research in Financial Services and Head of the Division of Banking and Finance at the Nanyang Technological University, Singapore. Professor Ding has taught Business Finance, Financial Management, Corporate Finance, Investment Analysis & Portfolio Management, and International Financial Management at both the undergraduate and graduate levels.

Dr. Cevat Ertuna is an Assistant Professor of Finance at Bilkent University School of Tourism and Hotel Management. He has several years of banking experience as a senior loan officer, has taught several graduate and undergraduate level finance classes at different Universities in the USA, and consulted with companies and individuals as a SCORE counselor. His research interest is in financial decision making within the corporate environment.

Dr. Nell S Gullet is a Professor of Finance at the University of Tennessee at Martin. She has been a faculty member at UT Martin since 1983. She has been recipient of the University of Tennessee National Alumni Association Outstanding Teaching Award on two occasions. She also was Recipient of the University of Tennessee at Martin Cunningham Teacher/Scholar Award. She has more than 30 scholarly publications and presentations. She is NCAA Faculty Athletics Representative and Chair of the Athletics Board for UT Martin.

Dr. Wen-liang Hsieh is a Professor of Finance at Institute of Finance of National Chiao Tung University, Taiwan. He also served as a Professor in Banking and Finance Department at Tamkang University, Taiwan. He has published his research in journals like Journal of Futures Markets, Journal of Financial Studies, International Review of Financial Analysis, Review of Pacific Basin Financial Markets and Policies and Financial Review. His research interest is in market microstructure, financial derivatives, asset pricing, ETFs and index funds.

Dr. Xiankui Hu is currently serving as a Professor at Arkansas State University. He joined at this university as an Assistant Professor of Finance in August, 2009. He teaches International Finance and capital management to MBA and undergraduate students. Dr. Hu's research interests are in the areas of market microstructure, corporate finance, derivatives, and market regulations. He has one U.S. patent and a variety of scholarly articles in journals such as Journal of Financial Research, Financial Services Review, and so on.

Dr. Fariz Huseynov is an Assistant Professor of Finance at North Dakota State University. He published articles in popular press, journals and in co-edited books. He has presented his works in several international conferences. Currently, he works on impacts of taxation on corporate valuation, corporate governance, and on market microstructure. He is also interested in studies related to financial markets development in CIS countries. He has taught several courses, such as Business Finance, Financial Markets, Investments and International Finance. He received his PhD in Finance degree from the University of Memphis.

Dr. Archana Jain graduated with Ph.D. in Finance in Summer of 2012. She is an Assistant Professor of Finance in the E. Philip Saunders College of Business at the Rochester Institute of Technology. Her research interests include market miscrostructure, short selling regulations, and corporate governance. Her Ph.D. disseration has been accepted for publication at the Journal of Financial Economics.

Dr. Chinmay Jain is an Assistant Professor of Finance at the University of Ontario Institute of Technology, Canada. He earned his B.Tech. degree from Indian Institute of Technology in 2004 and Ph.D. in Finance from University of Memphis in 2012. His research interests include market miscrostructure, short selling, and financial regulations. He has published his research in Financial Review.

Dr. Young Kwon Kang graduated with Ph.D. in Finance in Summer of 1996. He taught Finance at Tong Yang University in Korea for a few years.

Dr. Mustafa Mesut Kayali is a Professor of Finance at Dumlupinar Üniversity. He graduated from The University of Memphis in the summer of 2002. He has presented his research at conferences such as the International Financial Management Association and Dumlupinar University SBE.

Dr. Jang-Chul Kim is an Associate Professor of Finance at Northern Kentucky University. He earned his BBA and MS in Finance from Iowa State University and his Ph.D. from University of Memphis. His research and teaching expertise is in investments, market-microstructure, and corporate finance. His research has been presented at the leading national and regional conferences of Financial Management Association (FMA), Midwest Finance Association (MFA), Eastern Finance Association, and New York Stock Exchange (NYSE). He has published articles on market-microstructure in Journal of Financial Research, Review of Quantitative Finance and Accounting, Journal of Multinational Financial Management, and Advances in Investment Analysis and Portfolio Management.

Dr. Young Guk Kim is an Associate Professor at Soon Chun Hyang University. He received his Ph.D. Degree in Finance in the summer of 1991.

Dr. Lynn Phillips Kugele is a Instructional Assistant Professor at the University of Mississippi at Deseto. She earned her Ph.D. from The University of Memphis in 1998 after spending over 25 years in industry. Formerly, she was on the faculty of Christian Brothers University and served as the Dean of the School of Business and Department Chair for several years. She has been on the board of Directors for Institute of Study of Stock Markets since 2001.

Dr. Emre Kuvvet is an Associate Professor of Finance at Nova Southeastern University Florida. He earned his Ph.D. from The University of Memphis in 2012.

Dr. Sa Young Lee is a Professor at Chungbuk University, Korea. He received his Ph.D. degree in Finance in the spring of 1998. His current research interest is in time-varying volatility in the Korean stock market, information flows between large and small firms, volatility spillover among international equity markets and volatility and information flows in emerging equity markets.

Dr. Mingsheng Li is a Professor of Finance at Bowling Green State University. He earned his doctorate degree from The University of Memphis in 2000. His research interests are in initial public offerings, agency theory and asymmetric information, market microstructure and emerging markets and foreign exchange markets. He has published papers in premier academic journals such as Journal of Banking and Finance, Journal of Empirical Finance, Journal of Multinational Financial Management, Financial Management, Financial Review.

Dr. Yun-Yung Lin teaches finance in Banking and Finance Department at TamKang University. He graduated from The University of Memphis in the fall of 1998.

Dr. Michael Scott McCorry is the Head of Implementation Research, Global Markets Strategies Group at Barclays Global Investors, Australia. Prior to joining BGI, Michael was with the Securities Industry Research Centre of Asia-Pacific (SIRCA), and the University of Sydney, where he was Research Director and Lecturer, respectively. Dr. McCorry has published in leading journals such as the Journal of Finance.

Dr. Graham Robert Mitenko is an Associate Professor of Finance at the University of Nebraska - Omaha. Dr. Mitenko is Vice President of the Academy of Economics and Finance, a board member of the American Academy of Economic and Financial Experts, a member of Midwest Finance Association, Eastern Finance Association, Financial Management Association, Southwest Finance Association, Phi Kappa Phi Honors Society, Beta Gamma Sigma Honors Society, Financial Management Honors Society, Academy of Financial Services, Society of Financial Analysts, and the Southern Finance Association. Professor Mitenko's research interests include valuation, franchises, retirement issues, leasing, personal financial management, and entrepreneurship and small business development. His research has been published in Journal of Legal Economics, Financial Practice and Education, Journal of Business Perspectives, and the Midwest Journal of Business and Economic Perspectives.

Dr. Ying Huang graduated from the University of Memphis in the fall of 2012. Her research interests are in Corporate Finance, Market Microstructure, and Real Estate; covering topics such as corporate governance, cash holdings, market liquidity, and foreclosures. Her dissertation paper has been accepted by the Journal of Banking and Finance. She is currently serving as an Assistant Professor at University of South Alabama. She formerly served as an Assistant Professor at University of Manitoba.

Dr. Deborah Nichol Pittman is an Associate Professor of Finance at Rhodes College. She has previously served as Director of the Meeman Center of Lifelong Learning and as the Chair of the Department of Economics and Business. Her teaching interest is in corporate finance, international finance, investments, and business policy. She is a Certified Public Accountant and a Chartered Financial Analyst. She has published her research in journals such as the Review of Quantitative Finance and Accounting, Journal of Fixed Income, International Review of Financial Analysis, and the Journal of Business, Finance, and Accounting. She has reviewed for journals such as International Review of Financial Analysis, Financial Review, and Review of Quantitative Finance and Accounting and has been an FMA annual conference session chairperson. Her research interest is in inflation-indexed bonds, risk premiums under uncertain inflation, and bond duration.

Dr. Bill Rayburn has served as FNC's CEO since the company began. Bill often speaks or sits on panels at major industry conferences and led a consulting firm specializing in seminars for bank regulatory agencies, financial institutions, and appraisal firms before founding FNC. At FNC, he is responsible for steering the company's mission and vision through the Age of Collateral. A former business professor at the University of Mississippi, Bill earned his Ph.D. in Business Finance, Chartered Financial Analyst designation, and Appraisal Institute MAI and SRA designations. Along with FNC co-founder Dennis Tosh, Bill quite literally wrote the book on collateral – actually, a few of them – including Sheshunoff's Bankers Guide to Real Estate Appraisal Compliance and Uniform Standards of Professional Appraisal Practice: Applying the Standards.

Dr. Nareerat Taechapiroontong earned her Ph.D. in Finance from The University of Memphis in the summer of 2003. Dr. Nareerat works as a Assistant Professor at College of Management, Mahidol University, Thailand in 2004 and has served as a full-time finance lecturer and dissertation adviser. Dr. Nareerat's research focuses on market microstructure and behavioral finance. She has published research papers in international refereed journals such as Financial Review and has presented her research at FMA and FEA conferences in the USA.

Dr. Jim Schultz received his Ph.D. from the University of Memphis in Business Administration/Finance in August, 2009, and his MBA from Central Michigan University. Dr. Schultz joined College of Business Administration, Winthrop University as an Assistant Professor. His most recent teaching experience was as adjunct professor at Rhodes College and the University of Memphis where courses taught were: Corporate Financial Management, Financial Markets and Investments. Dr. Schultz spent several months in Nice, France studying at the Institut de Preparation a L'Administration et a la Gestion.

Dr. James Upson received his Ph.D. from the University of Memphis in Business Administration/Finance in May, 2009. He joined University of Texas at El Paso as an Assistant Professor. He has published his research in Journal of Financial Markets. His research interest is in Market Microstructure, Investments, and Corporate Finance.

Dr. Dominique Vacheron is the Vice President - Derivatives Strategist of Fixed Income Group at Rbc Dain Rauscher Inc. He graduated with Ph.D. in Finance in the summer of 2005.

Dr. Bonnie Van Ness is a Professor and Department Chair in the Department of Finance at the University of Mississippi. Dr. Van Ness has published in a number of journals, including: Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Financial Management, Journal of Financial Markets, Journal of Banking and Finance, Journal of Futures Markets, Journal of Financial Research, Financial Review, Journal of Business, Finance and Accounting, Review of Quantitative Finance and Accounting, as well as Review of Financial Economics. Prior to joining the University of Mississippi, she has taught at University of North Alabama, Christian Brothers University, Marshall University, and Kansas State University.

Dr. Robert A. Van Ness is a director of the doctoral program and Professor of Finance at the University of Mississippi. Dr. Van Ness is also the director of the doctoral program for the School of Business at the University of Mississippi. Dr. Van Ness's primary area of research examines financial markets and the trading of securities (commonly referred to as market microstructure research). Dr. Van Ness has published in a number of journals, including: Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Financial Management, Journal of Financial Markets, Journal of Banking and Finance, Journal of Futures Markets, Journal of Risk and Insurance, Journal of Financial Research, Financial Review, Journal of Business, Finance and Accounting, Review of Quantitative Finance and Accounting, as well as Review of Financial Economics. Professor Van Ness won a best paper award at the Financial Management Association Annual Meeting (1998), the Southern Finance Association Annual Meeting (1999), and the Eastern Finance Association Annual Meeting (2004 & 2006).

Dr. Udomsak (Jeff) Wongchoti is an Associate Professor of School of Economics and Finance at Massey University in New Zealand. He has published over 30 articles in quality journals such as Financial Management, Journal of Banking and Finance (two articles), the Financial Review (four), Pacific Basin Finance Journal (three), the International Review of Financial Analysis (three), among others. Jeff has also reviewed/examined more than 150 manuscripts/dissertation for journals like JBF, JBFA, PBFJ, FR, and others since launching his career in 2004. He has been supervising eleven PhD candidates at Massey University. A keynote speaker to a seminar organized by State Securities Commission of Vietnam in mid 2010's, he also serves as an Advisory Editor of Journal of Asian Business and Economic Studies.

Dr. Linda Yu graduated with a Ph.D. in Finance in 2002. She is currently teaching as a Professor and Department Chairperson at Department of Finance & Business Law, University of Wisconsin--Whitewater. Her research interests are in fixed income securities and issues related to corporate financial management. Dr. Yu's research has been published in the Financial Management, the Journal of Fixed Income, and many other high quality journals.

Dr. Dan Zhou is an Associate Professor of Finance at California State University, Bakersfield. Previously, she has taught at St. John Fisher College, University of Memphis and Shanghai Jiao Tong University. She has presented her Research at FMA Annual conference, MFA Annual Conference and American Academy of Accounting and Finance annual conference. She was recipient of a Faculty Research Grant at St. John Fisher College.

Dr. John Timothy Zietlow is a Professor at Robert W. Plaster College Of Business And Computer Science, Southwest Baptist University. He has published several Textbooks/Practitioner manuals as the leading author/co-author. He has made academic presentations at FMA, EFA, MFA and several other well-known finance annual conferences.

Dr. Pawan Jain holds a PhD in finance from the University of Memphis and also a PhD in Instructional Design from the University of Wyoming. Jain graduated from the University of Memphis in Spring 2013. He has presented at many professional conferences and received an Outstanding Paper Award from the EFA. He is currently working as an Assistant Professor at the University of Wyoming.

Dr. Tanakorn Likitapiwat holds a PhD in finance from the University of Memphis. Dr. Likitapiwat graduated from the University of Memphis in 2010. He is currently working as an Assistant Professor at Chulalongkorn University.

Dr. Daewon Kim holds a PhD in finance from the University of Memphis. Dr. Kim graduated from the University of Memphis in 2012.

Dr. Ahmed Elnahas holds a PhD in finance from the University of Memphis. He is an Assistant Professor at the University of Texas Rio Grand Valley. Dr. Elnahas graduated from the University of Memphis in 2014. He worked as an Instructor at Eastern Kentucky University.

Dr. Mohamed Mekhaimer holds a PhD in finance from the University of Memphis. Dr. Mekhaimer graduated from the University of Memphis in 2014. He formerly worked an Assistant professor at Clarkson University. Currently he is an Assistant Professor at ST. John Fisher College.

Dr. Bhavik Parikh holds a PhD in finance from the University of Memphis. Dr. Parikh graduated from the University of Memphis in 2014. Currently he is an Associate Professor at St. Francis Xavier University.

Dr. Radetskiy Evgeny holds a PhD in finance from the University of Memphis. Dr. Evgeny graduated from the University of Memphis in 2015. Currently Dr. Evgeny is an Assistant Professor at LaSalle University in Philadelphia.

Dr. Vivek Sharma holds a PhD in finance from the University of Memphis. He is currently working as an Instructor at the department of Finance, Insurance and Real Estate, at the University of Memphis. . Dr. Jade O. Planchon holds a PhD in finance from the University of Memphis. He is currently working as an Assistant Professor of finance at Rhodes College. She had formerly worked in investment banks and also has experience in financial fields at Memphis and New York.

Dr. Olena Nikolsko-Rzhevska is currently working as a professor of practice at the Lehigh University. She joined as an Adjunct Lecturer in 2015 and got promoted to Professor in 2018. She holds a PhD in Finance from the University of Memphis.

Dr. Xiaohu Deng holds a PhD in finance from the University of Memphis. He is currently an Assistant Professor of Finance in the Tasmanian School of Business and Economics at the University of Tasmania, Hobart, Australia. His primary research areas include empirical corporate finance and asset pricing with specializations in the real effects of financial market frictions on corporate finance, and short selling. He has presented at prestigious conferences such as the American Finance Association (AFA) Annual Meeting, American Economic Association (AEA) Annual Meeting and the Northern Finance Association (NFA) Annual Meeting, and has published his research in the Journal of Corporate Finance.

Dr. Ghada Ismail holds a PhD in Finance from the University of Memphis.

Dr. Kelley Anderson holds a PhD in Finance from the University of Memphis.

Dr. Jianning Huang holds a PhD in Finance from the University of Memphis.

Dr. Jared Linna holds a PhD in Finance from the University of Memphis.

Dr. Long Ma holds a PhD in Finance from the University of Memphis.

Dr. Shawn McFarland holds a PhD in Finance from the University of Memphis.

Dr. Jonathan Miller holds a PhD in Finance from the University of Memphis.

Dr. Wei Sun holds a PhD in Finance from the University of Memphis.

Dr. David Taylor holds a PhD in Finance from the University of Memphis.

Dr. Jiang Zhang holds a PhD in Finance from the University of Memphis.

Dr. Rasheek Irtisam holds a PhD in Finance from the University of Memphis.