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Professor Nathan Joseph

Finance Group

Nathan Joseph
Role: Head of Group
Email:
n.l.joseph@aston.ac.uk Phone:+44(0)121 204 3143
Room: ABS419
Several years of industrial experience in accounting and financial risk management.

Teaching

  • MSc programmes:  International Finance, Applied Research Methods
  • MBA programmes: International Finance
  • Doctoral programme: Philosophy of Management Research

Course Directorships

  •        MSc Business and Management

  •        MSc Finance and Financial Regulation

  • Modelling asset pricing in financial markets
  • Risk management and asset pricing
  • Market efficiency and stock price overreaction
  • Shareholder activism and institutional investors
  • Forecasting
  • Fund management
  • Non-linear estimation methods in asset pricing models

Recent PhD students successfully supervised

  • Kanungo Rama, “Corporate Restructuring, firm Performance and value”, (sole supervisor), (2010).   
  • Dr Lai Baoying, "Pricing-to-market for U.K. export sector", (sole supervisor), (2007).
  • Dr Rashid Ameer, "Financial Liberalization and Dynamics of Firm level Financing and Investment Decisions in the South-East Asian Countries", (Joint-supervision), (2007).
  • I successfully supervised a further five PhD students whilst at University of Manchester.

External PhD examining

  • Tanaka Business School, Imperial College: (Sep. 2005; Feb. 2007; Feb 2008)
  • Manchester Metropolitan University (1998; 2006)
  • Manchester University (Nov. 2006)
  • Manchester Business School (Mar 2005)

Professional Membership

  • Associate of Chartered Institute of Management Accountants (ACMA)

Academic Membership

  • EURO Working Group on Financial Model
  • ”Non-linearities in mark-up on costs”, Manchester School (forthcoming) (S. Wlazlowski, J. Binner, M. Giulietti and B. Nillson).

  • ”The Volatility of U.K. Export Prices and Pricing-to-Market”, Applied Financial Economics (2010) Vol. 20, pp. 1441-1460 (with B. Lai). 

  • ”Price Reaction to Large Price Changes”, International Journal of Applied Decision Sciences (2010) Vol. 1(2), pp. 93-112 (with K Mazouz).

  • “Price Reaction of Large One-day Price Changes: U.K. Evidence”,  Journal of Banking and Finance, (2009) Vol. 33, pp. 1481-1493 (K. Mazouz and J. Joulmer).

  • “Stock Index Reaction to Large Price Changes: Evidence from Major Asian Stock Indices”, Asian-Pacific Finance Journal, (2009) Vol. 17, pp. 444-459 (K. Mazouz,  and C. Palliere).

  • "Characteristics of UK firms related to timing of adoption of Statement of Standard Accounting Practice No.20", Accounting and Finance, (2006) Vol 46 (3), pp. 429-455 (with G. Iatridis).

  • "The Sensitivity of U.S. Banks' Stock Returns to Interest Rate and Exchange Rate Changes", Managerial Finance, (2006) Vol. 32(2), pp. 182-199 (with P Vezos).

  • "A conceptual framework of accounting policy choice based on SSAP 20", Managerial Auditing Journal, (2005) Vol. 20(7), pp.763-778 (with G. Iatridis).

  • "Stochastic volatility and the goodness-of-fit of the Heston Model", Quantitative Finance, (2005) Vol. 5, pp.199-211 (with G.Daniel and D. Brée).

  • "An empirical investigation of the UK stock market response to the implementation of SSAP 20", Investment Management and Financial Innovations, (2005) Vol.1, pp.108-126 (with G. Iatridis).

  • "Using non-parametric search algorithms to forecast daily excess stock returns", Advances in Econometrics, (2004) Vol.19, pp. 93-125 (with K. Kalyvas, and D. Brée).

  • "International linkages and information transmission among Euro-currency interest rates" Derivatives Use, Trading and Regulation, (2004) Vol. 4, 331-350 (with S. Agyei-Ampomah). 

  • "Using monthly returns to model conditional heteroscedasticity", Applied Economics, (2003) Vol. 35, pp. 791-801 (sole author). 

  • "Who wants to be a trustee", The New Academy Journal, Winter 2003/04, Vol. 1, pp. 98-104 (with J. and I. Solomon, and S. Norton). 

  • "Predicting returns in financial institutions' stock indices", International Journal of Forecasting, (2003)  Vol. 19, pp. 351-367 (sole author).

  • "Modelling the impacts of interest rate and exchange rate changes on UK stock returns", Derivatives use, Trading  & Regulation, (2002) Vol. 7, pp. 306-323, (sole author). 

  • "Model specification and forecasting foreign exchange rates with vector autoregressions", Journal of Forecasting, (2001) Vol. 20(7), pp. 451-484, (sole author). 

  • "Modelling changes in the stock indices of UK financial institutions and exchange rates", International Quarterly Journal of Finance, April (2001), Vol. 1 (with J. Solomon). 

  • "A conceptual framework for corporate risk disclosure emerging form the agenda for corporate governance reform", British Accounting Review, (2000) Vol. 32, pp. 447-478 (with J. and I. Solomon, and S. Norton) 

  • "How do institutional investors view the hedging motives of firms?", International Journal of Finance & Economics, (2000), Vol. 5, pp. 339-347 (with J. Solomon).

  • "Institutional Investors' views on corporate governance reform: policy recommendations for the 21st century", Corporate Governance: an International Review, (2000), Vol. 8(3), pp. 217-226 (with J. and I. Solomon, and S. Norton). 

  • "The choice of hedging techniques and the characteristics of UK industrial firms", Journal of Multinational Financial Management, (2000), Vol. 10, pp. 161-184, (sole author). 

  • "What perceptions of treasury managers influence hedging decisions?" Derivatives use, Trading & Regulation, (2000), Vol. 5(4), pp. 339-353 (with R. Hewins). 

  • "Do UK multinationals tactically use hedging techniques?", Derivatives use, Trading  & Regulation, (1999), Vol. 5(2), pp. 167-181 (sole author). 

  • "Hedging foreign exchange risk: how does it work in practice?", Long Range Planning, (1999), Vol. 32(1), pp. 75-80 (sole author). 

  • "Foreign exchange exposure management practices of Finnish industrial firms", Journal of International Financial Management and Accounting, (1998), Vol. 9(1), pp. 34-57 (with A. Hakkarainen, E. Kasanen and V. Puttonen, Helsinki School of Economics). 

  • "The motives for corporate hedging among UK multinationals", International Journal of Finance & Economics, (1997) Vol. 2, pp. 151-171 (with R. Hewins). 

  • " External financial reporting and management information: a survey of UK management accountants", Management Accounting Research, (1996) Vol. 7, pp. 73-93 (S. Turley, Burns, J., L. Lewis, R. Scapens, and A. Southworth).

  • "Cointegration, error-correction models and forecasting using realigned foreign exchange rates", Journal of Forecasting, (1995) Vol. 14(6), pp. 499-522 (sole author). 

  • "Seasonality estimation in UK foreign exchange market", Journal of Business Finance & Accounting, (1992) Vol. 19(1), pp. 39-71 (with R. Hewins). 

  • "Portfolio models for foreign exchange exposure", Omega, (1991) Vol. 19(4) pp. 247-258, (with R. Hewins).

Working papers not covered above 

  • "Why Empirical Portfolio Models of Foreign Exchange Exposure Fail", Manchester University (1997) (with J. Solomon).

  • "The Distribution of UK Foreign Exchange Rate Returns", Working Paper 94/2, (1994) Manchester University.

Refereed Research Monograph

External Reporting and Management Decisions, Chartered Institute of Management Accountants, CIMA Research, Monograph, 1996 (Manchester University research team).

Book Chapters

The Current State of Business Disciplines: Finance By Bhagwan, Shri Dahiya.

Associate Editor (Finance Specialism)

  • British Accounting Review
  • International Journal of Applied Decision Sciences
  • International Journal of Strategic Decision Sciences

Editorial Board Membership

  • International Quarterly Journal in Finance
  • Finance Letters
  • Journal of International Business and Finance

Other Academic Membership

  • Conference Advisory Board/Programme Committee Member: Financial Management Association International Conference in 2002.
  • European Finance Association: August 2006, August 2007, August 2008.
  • Professor has also been an External Examiner on MSc, MBA and undergraduate degree Examination Boards for a number of UK universities.

Academic Refereeing 

International Journal of Finance and Economics; Journal of Business Finance and Accounting; Management Accounting Research; British Accounting Review; The European Journal of Finance; Journal of Multinational Financial Management; Multinational Finance Journal; Corporate Governance: an International Review; International Quarterly Journal in Finance; International Journal of Forecasting; Journal of Economic Dynamics and Control; Finance Letters.

Employable Graduates; Exploitable Research