Publications

[13] "Housing submarket spillovers and Covid-19: The increasing influence of Australia’s regional cities", with Moses Kangogo and Maria Yanotti, 2025, Regional Studies (forthcoming)

This study uncovers a pandemic-era reversal in Australian housing market dynamics, where regional cities became price influencers over metropolitan areas. Findings suggest COVID-19 reshaped spatial housing demand, with implications for regional housing policy and infrastructure investment.

Resilience and Response to Shock · Market Design for Public Good · Private Incentives and Public Outcomes

[12] "Does stakeholder outrage determine executive pay?" with Attila Balogh and Jason Zein, 2024, Review of Corporate Finance Studies (forthcoming)

Investigating pandemic-era CEO pay cuts, this study reveals that reductions were offset by less visible forms of compensation. Findings support the managerial power view, showing how firms camouflage executive pay to manage stakeholder outrage without reducing total remuneration.

Power, Accountability, and Governance · Private Incentives and Public Outcomes · Behaviour and Decision-Making Under Risk

[11] "Residential property in Australia: Mismatched investment and rental demand", with Maria Yanotti, 2023, Housing Studies, 38, 1110-1131.

Analysing mortgage application data, this paper finds that Australian property investors increasingly favour non-metropolitan areas, contributing to mismatches between investment patterns and rental demand. The findings inform debates on housing supply, affordability, and the role of private investment.

Private Incentives and Public Outcomes · Market Design for Public Good · Power, Accountability, and Governance

[10] "Speculative trading preferences of retail investor birth cohorts", with Grace Lepone and Joakim Westerholm, 2023, Accounting and Finance, 63, 555-574.

This paper investigates how life experiences shape speculative investment behaviour. Retail investors from cohorts experiencing favourable early-life economic conditions show a higher tendency to trade lottery-type stocks, with adverse effects on portfolio performance, revealing important behavioural patterns across generations.

Behaviour and Decision-Making Under Risk · Private Incentives and Public Outcomes

[9] "Time to acquire: Regulatory burden and M&A activity", with Attila Balogh and Usha Creedy, 2022, International Review of Financial Analysis, 82, 102047. 

Using the JOBS Act as a natural experiment, this study shows that reducing regulatory burden post-IPO accelerates firms' acquisition activity. Findings suggest lower compliance costs free up managerial attention and resources, driving faster and broader investment in growth opportunities.

Market Design for Public Good · Private Incentives and Public Outcomes · Resilience and Response to Shock

[8] "The impact of machine learning on UK financial services", with Bonnie Buchanan, 2021, Oxford Review of Economic Policy, 37, 537–563.

A comprehensive review of machine learning adoption in UK financial services, this paper analyses applications from fraud detection to robo-advising. It highlights the sector's rapid transformation, the importance of regulation and governance, and future research directions in an increasingly data-driven industry.

Market Design for Public Good · Private Incentives and Public Outcomes · Power, Accountability, and Governance

[7] "Ethical investing has no portfolio performance cost", with Yufen Fu and George Blazenko, 2020, Research in International Business and Finance, 52, 101117.

[6] "Home advantage: The preference for local residential real estate investment", with Maria Yanotti, 2019, Pacific-Basin Finance Journal, 57, 1-21.

Exploring location bias in residential property investment, this study finds that investors strongly prefer local markets despite diversification benefits elsewhere. The preference is influenced by familiarity and investor sophistication, with implications for portfolio concentration risks and regional housing markets.

Behaviour and Decision-Making Under Risk · Private Incentives and Public Outcomes · Market Design for Public Good

[5] "Are paper winners gamblers? Evidence from Australian retail investors", with Alex Frino and Grace Lepone, 2019, Accounting and Finance, 59, 593-614. 

[4] "Wealth transfer, signaling and leverage in M&A", with Jiri Svec and Ben Murray, 2017, International Review of Financial Analysis 52, 203-212.

[3] "Investor characteristics and the disposition effect", with Alex Frino and Grace Lepone, 2015, Pacific-Basin Finance Journal 31, 1-12.

[2] "The impact of auctions on residential property prices", with Alex Frino and Maurice Peat, 2012, Accounting and Finance 52, 815-830.

[1] "The impact of residential property investment on portfolio performance", with Maurice Peat, 2012, JASSA 2, 35-42.