CENTRE FOR RESEARCH IN ECONOMICS AND FINANCE
RECENT PUBLICATIONS (2005 onwards)
BOOKS
Nellis, J. & Parker, D. 2006, Principles of Business Economics, FT/Prentice Hall.
Parker, D. & Kirkpatrick, C. 2006, Current Developments in Regulatory Impact
Assessment, Edward Elgar, Cheltenham.
Crew, M., Cook, P. & Parker, D. (eds.) 2006, International Handbook on Economic
Regulation, Edward Elgar, Cheltenham.
BOOK CHAPTERS
2006
Parker, D. 2006, 'The UK's privatisation experiment: the passage of time permits a
sober assessment', in Privatisation: The International Experience, eds. J. Whalley, H.
Sinn & M. Koethenbuerger, MIT Press, Cambridge, MA.
Parker, D. 2006, 'Privatisation and regulation in developing countries', in Regulation
of Utilities, ed. C. Robinson, Edward Elgar, Cheltenham.
Parker, D. 2006, 'Enterprise Sales: Thatcher Leads the Charge', in Privatization and
Market Development: Global Movements in Public Policy Ideas, ed. G. Hodge, Edward
Elgar.
Parker, D. & Crew, M. 2006, 'Development in the theory and practice regulatory
economics', in International Handbook on Economic Regulation, eds. M. Crew & D.
Parker, Edward Elgar, Cheltenham.
Parker, D., Jalilian, H. & Kirkpatrick, C. 2006, 'Creating the conditions for
international business expansion: The impact of regulation on economic growth in
developing countries - a cross country analysis', in Regulating development:
Evidence from Africa and Latin America, ed. E. Amann, Edward Elgar, Cheltenham.
Parker, D. & Kirkpatrick, C. 2006, 'Privatisation', in The Elgar Companion to
Development Studies, ed. D. Clark, Edward Elgar, Cheltenham.
Parker, D. & Kirkpatrick, C. 2006, 'A comparative analysis of the performance of
public and private water utilities in Africa', in Regulating development: Evidence from
Africa and Latin America, ed. E. Amann, Edward Elgar, Cheltenham.
Parker, D. & Saal, D. 2006, 'Assessing the performance of water operations in the
English and Welsh Water Industry: A lesson in the implications of inappropriately
assuming a common frontier', in Performance Measurement and Regulation of
Network Utilities, Edward Elgar.
Parker, D., Saal, D. & Dassler, T. 2006, 'Performance benchmarking in utility
regulation and the UK experience', in International Handbook on Economic
Regulation, eds. M. Crew & D. Parker, Edward Elgar, Cheltenham.
Saal, D. & Parker, D. 2006, 'Assessing the performance of water operations in the
English and Welsh water industry: A lesson in the implications of inappropriately
assuming a common frontier', in Performance measurement and the regulation of
network utilities, eds. T. Coeli & D. Lawrence, Edward Elgar, Cheltenham.
2005
Kisielewska, M., Guzowska, M., Nellis, J. & Zarzecki, D. 2005, 'Efficiency of the major
banking players in Poland', in Zarzadzanie Finansami: Biznes, bankowosc, i finanse
na rynkach wschodzacych, ed. D. Zarzecki, Uniwersytet Szczecinski, Szczecin, pp.
569-584.
Nellis, J. & Figueira-Theodorakopoulou, C. 2005, 'The importance of accurate house
price measurement in the context of mortgage risk modelling', in Credit Risk of
Mortgage Loans. Modelling and Management, eds. K. Jajuga & Z. Krysiak, Polish
Bank Association, Warsaw.
Nellis, J., Figueira-Theodorakopoulou, C. & Glen, J. 2005, 'An econometric model of
mortgage arrears - implications for credit risk', in Credit Risk of Mortgage Loans.
Modelling and Management, eds. K. Jajuga & Z. Krysiak, Polish Bank Association,
Warsaw.
Nellis, J., Zarzecki, D., Guzowska, M. & Kisielewska, M. 2005, 'Efektywnosc polskiego
sektora bankowego w latach 1995-2002', in Zeszyty Naukowe Instytutu Ekonomiki i
Organizacji Przedsiebiorstw, Uniwersytet Szczecinski, Szczecin, pp. 101-114.
Parker, D. 2005, 'Enterprise sales - Thatcher leads the charge', in Privatisation and
Market Development: Global Movements in Public Policy Ideas, ed. G. Hodge,
Australian Scholarly Publishing, Melbourne.
Parker, D. & Saal, D. 2005, 'Performance in the English and Welsh privatised water
industry', in Performance Measurement and Regulation of Network Utilities, eds. T.
Coelli & D. Lawrence, Edward Elgar, Cheltenham.
CONFERENCE PAPERS
2007
Andrag, H. 2007, 'Management buyouts: Comparative analysis of Chairman's
reports', in British Accounting Association annual conference, London.
Bender, R. 2007, 'The platonic remuneratiuon committee', in ESRC Executive Pay
Conference, London.
Parker, D. 2007, 'The performance of liberalized infrastructures', in 10th Annual
Conference on the Economics of Infrastructures, Delft.
Sudarsanam, S. & Qian, B. 2007, 'Do stock markets underreact to spinoff
announcements?: The European evidence', in Financial Management Association
European Conference, Barcelona.
Sudarsanam, S. & Qian, B. 2007, 'Catering theory of corporate spin-offs: Empirical
evidence from Europe', in 4th International Finance Conference, Hammamet.
Sudarsanam, S. & Qian, B. 2007, 'Do stock markets under react to spin-off
announcements? The European evidence', in 4th International Finance Conference,
Hammamet.
Sudarsanam, S. & Qian, B. 2007, 'Do stock markets underreact to spin-off
announcements? The European evidence', in European Financial Management
Association Annual Conference, Vienna.
Sudarsanam, S. & Qian, B. 2007, 'Shareholder gains from European spin-offs: The
effect of internal and external control mechanisms', in European Financial
Management Association Annual Conference, Vienna.
Sudarsanam, S. & Qian, B. 2007, 'Catering theory of corporate spin-offs: Empirical
evidence from Europe', in European Financial Management Association Annual
Conference, Vienna.
2006
Agarwal, V. & Poshakwale, S. 2006, 'Does distress risk explain size and Book-tomarket effects?', in CERAM Research Seminar, Sophia Antipolis.
Bender, R. 2006, 'Onwards and upwards: Why companies change their executive
remuneration schemes', in 4th International Conference on Corporate Governance,
Birmingham.
Huang, J. 2006, 'Managerial incentives, overconfidence, risk-taking and acquirer
shareholder value creation in mergers and acquisitions', in European Financial
Management Association Annual Conference, Madrid.
Moir, L. 2006, 'What's the strategy behind strategic philanthropy?', in Academy of
Management Annual Meeting, Atlanta.
Poshakwale, S., Ching, P. & Ford, J. 2006, 'Hedging with stock index futures:
Evidence from the Malaysian markets', in 13th Global Finance Conference, Rio de
Janeiro.
Sudarsanam, S. 2006, 'Managerial overconfidence, risk incentives and acquisition
performance', in European Financial Management Association Annual Conference,
Madrid.
Sudarsanam, S. & Qian, B. 2006, 'Corporate spin-offs as a response to investor
irrationality', in Financial Management Association Annual Meeting, Salt Lake City.
2005
Bender, R. 2005, 'Onwards and upwards: Why companies change their executive
remuneration schemes, and why this leads to increases in pay', in European
Accounting Association 2005 Congress, Gothenburg.
Bender, R. & Moir, L. 2005, 'Do current practices in UK executive pay encourage
ethical behaviour', in IABS Annual Meeting, Sonoma, CA.
Bender, R. & Moir, L. 2005, 'Does 'best practice' in setting executive pay encourage
'good behaviour'?', in European Accounting Association 2005 Congress, Gothenburg.
Nellis, J. 2005, 'Are you agile enough to survive?', in EDS First Global Air
Transportation Forum, Zurich.
Parker, D. 2005, 'The relevance of regulatory impact assessment in developing
countries', in Third South Asia Investment Roundtable, Dhaka.
Parker, D. 2005, 'Competition in the provision of energy and water services in
developing countries', in Annual Shirley Playfair Lecture, Kingston, Jamaica.
Parker, D., Kirkpatrick, C. & Figueira-Theodorakopoulou, C. 2005, 'Infrastructure
regulation and poverty reduction in developing countries: A review of the evidence
and a research agenda', in Conference on Regulation, Competition and Income
Distribution: Latin American Experiences, Rio de Janeiro.
Poshakwale, S. 2005, 'Volatility transmission dynamics between ADRs and underlying
shares', in 3rd International Finance Conference.
Schoenberg, R. 2005, 'Measures of performance in cross-border acquisitions', in 47th
Annual Conference of Academy of International Business, Quebec City.
Schoenberg, R. & Seow, L. 2005, 'Cross-border acquisitions: A comparative analysis',
in 47th Annual Conference of the Academy of International Business, Quebec City.
Thornton, D. & Schoenberg, R. 2005, 'The stakeholder impact of bid defences in
hostile acquisitions: A comparative analysis', in British Academy of Management
Conference, Oxford.
JOURNAL ARTICLES
2007
Bender, R. 2007, 'Onwards And Upwards: Why Companies Change Their Executive
Remuneration Schemes And Why This Leads To Increases In Pay', Corporate
Governance: An International Review, vol. 15, no. 5.
Figueira-Theodorakopoulou, C., Nellis, J. & Parker, D. 2007, 'The effects of ownership
on bank efficiency in Latin America', Journal of Applied Economics.
Figueira-Theodorakopoulou, C., Nellis, J. & Parker, D. 2007, 'Challenges Facing the
Polish Banking Industry: A Comparative Study with UK Banks', Managing Global
Transitions: International Research Journal, vol. 5, no. 1.
Figueira-Theodorakopoulou, C., Nellis, J. & Schoenberg, R. 2007, 'Travel abroad or
stay at home? Investigating the patterns of bank industry M&As in the EU', European
Business Review, vol. 19, no. 1, pp. 23-39.
Jalilian, H., Kirkpatrick, C. & Parker, D. 2007, 'The impact of regulation on economic
performance in developing countries: A cross-country analysis', World Development,
vol. 35, no. 1, pp. 87-103.
Leask, G. & Parker, D. 2007, 'Strategic Groups, Competitive Groups and Performance
within the U.K.Pharmaceutical Industry: Improving Our Understanding of the
Competitive Process', Strategic Management Journal, vol. 28, no. 7, pp. 723-745.
Nellis, J. & Figueira-Theodorakopoulou, C. 2007, 'Bank mergers and acqusitions
acitivity in the EU: Much ado about nothing?', Service Industries Journal.
Parker, D., Kirkpatrick, C. & Figueira-Theodorakopoulou, C. 2007, 'Infrastructure
regulation and poverty reduction in developing countries: A review of the evidence
and a research agenda', Quarterly Review of Economics and Finance.
Parker, D. & Wu, H. 2007, 'Determinants of post-privatization efficiency gains: The
Taiwanese experience', Economic and Industrial Democracy.
Parker, D. & Zhang, Y. 2007, 'Electricity sector reform in developing countries: an
econometric assessment of the effects of privatisation, competition and regulation',
Journal of Regulatory Economics.
Willner, J. & Parker, D. 2007, 'The Performance of Public and Private Enterprise
under Conditions of Active and Passive Ownership and Competition and Monopoly',
Journal of Economics, vol. 90, no. 3, pp. 221-253.
2006
Arnold, M. & Parker, D. 2006, 'UK competition policy and shareholder value: the
impact of merger inquiries', British Journal of Management, vol. 18, no. 1, pp. 27-43.
Bender, R. & Moir, L. 2006, 'Does 'best practice' in setting executive pay in the UK
encourage 'good' behaviour?', Journal of Business Ethics, vol. 67, no. 1, pp. 75-91.
Cartwright, S. & Schoenberg, R. 2006, '30 years of mergers and acquisitions
research: Recent advances and future opportunities', British Journal of Management,
vol. 17, no. S1, pp. 1-5.
Dassler, T., Parker, D. & Saal, D. 2006, 'Methods and trends of performance
benchmarking in UK utility regulation', Utilities Policy, vol. 14, no. 3, pp. 166-174.
Figueira-Theodorakopoulou, C., Nellis, J. & Parker, D. 2006, 'Does ownership affect
efficiency of African banks?', Journal of Developing Areas, vol. 40, no. 1, pp. 37-62.
Kirkpatrick, C., Parker, D. & Zhang, Y. 2006, 'Foreign direct investment on
infrastructure in developing countries: does regulation make a difference?',
Transnational Corporations, vol. 15, no. 1, pp. 143-172.
Parker, D., Kirkpatrick, C. & Zhang, Y. 2006, 'State versus private sector provision of
water services in Africa: An empirical analysis', World Bank Economic Review, vol.
20, no. 1, pp. 143-63.
Parker, D. & Leask, G. 2006, 'Strategic group theory: review, examination and
application in the UK pharmaceutical industry', Journal of Management Development,
vol. 25, no. 4, pp. 386-408.
Parker, D., Weyman-Jones, T. & Saal, D. 2006, 'Measuring efficiency, productivity
and technical change in the privatised English and Welsh water and sewerage
industry: 1985-2000', Journal of Productivity Analysis.
Patra, T. & Poshakwale, S. 2006, 'Economic variables and stock market returns:
evidence from the Athens stock exchange', Applied Financial Economics, vol. 16, no.
13, pp. 993-1005.
Perez, K. & Poshakwale, S. 2006, 'Price determinants of American Depositary
Receipts (ADR): a cross-sectional analysis of panel data ', Applied Financial
Economics, vol. 16, no. 16, p. 1225.
Schoenberg, R. 2006, 'Measuring the performance of corporate acquisitions: An
empirical comparison of alternative metrics', British Journal of Management, vol. 17,
no. 4, pp. 361-370.
Schoenberg, R. & Thornton, D. 2006, 'The impact of bid defences in hostile
acquisitions', European Management Journal, vol. 24, pp. 142-150.
Schoenberg, R. 2005, 'Dealing with a culture clash', Financial Times 23 September
2005.
Sudarsanam, S. & Mahate, A. 2006, 'Are friendly acquisitions too bad for
shareholders and managers? Long-term value creation and top management
turnover in hostile and friendly acquirers', British Journal of Management, vol. 17,
no. S1, pp. 7-30.
Zitron, J. 2006, 'Public private partnership (PPP) projects: Towards a model of
contractor bidding decision-making', Journal of Purchasing and Supply Management,
vol. 12, no. 2, pp. 53-62.
2005
Figueira-Theodorakopoulou, C., Glen, J. & Nellis, J. 2005, 'A dynamic analysis of
mortgage arrears in the UK housing market', Urban Studies, vol. 42, no. 10, pp.
1755-1769.
Kirkpatrick, C. & Parker, D. 2005, 'Domestic regulation and the WTO: The case of
water services in developing countries', World Economy, vol. 28, no. 10, pp. 14911508.
Kirkpatrick, C., Parker, D. & Zhang, Y. 2005, 'Private investment in infrastructure in
Asia: the impact of regulation', The Singapore Economic Review, vol. 50, no. 1, pp.
369-391.
Parker, D. & Kirkpatrick, C. 2005, 'Privatisation in developing countries: a review of
the evidence and the policy lessons', Journal of Development Studies, vol. 41, no. 4,
pp. 513-541.
Parker, D. & Kirkpatrick, C. 2005, 'Regulating prices and profits in utility industries in
low income economies: Rate of return, price cap or sliding-scale regulation?',
International Journal of Public Sector Management, vol. 18, no. 3, pp. 241-255.
Parker, D., Kirkpatrick, C. & Zhang, Y. 2005, 'Price and profit regulation in
developing and transition economies; A survey of the regulators', Public Money &
Management, vol. 25, no. 2, pp. 99-106.
Poshakwale, S., Alexakis, C., Niarchos, N. & Patra, T. 2005, 'The dynamics between
stock returns and mutual fund flows: Empirical evidence from the Greek market',
International Review of Financial Analysis, vol. 14, no. 5, pp. 559-569.
Poshakwale, S. & Courtis, J. 2005, 'Disclosure level and cost of equity capital:
Evidence from the banking industry', Managerial and Decision Economics, vol. 26,
pp. 431-444.
Poshakwale, S., Perez, K. & Wong, W.-K. 2005, 'Is it worth diversifying
internationally with American Depositary Receipts?', International Journal of Finance,
vol. 17, no. 3, pp. 3622-3643.
Saal, D. & Parker, D. 2005, 'The comparative impact of privatization and regulation
on productivity growth in the English and Welsh water and sewerage industry, 19851999', International Journal of Regulation and Governance, vol. 4, no. 2, pp. 139170.
Slattery, D. & Nellis, J. 2005, 'Product development in UK retail banking: developing
a market-oriented approach in a rapidly changing regulatory environment',
International Journal of Bank Marketing, vol. 23, no. 1, pp. 90-106.
Tyrrall, D. & Parker, D. 2005, 'The fragmentation of a railway: A study of
organizational change', Journal of Management Studies, vol. 42, no. 3, pp. 507-537.
Zhang, Y., Parker, D. & Kirkpatrick, C. 2005, 'Competition, regulation and
privatisation of electricity generation in developing countries: Does the sequencing of
the reforms matter?', Quarterly Review of Economics and Finance, vol. 45, pp. 358379.
Bender, R. 2005, 'Just rewards for a new approach to pay In FT Mastering Corporate
Governance', Financial Times.
REPORTS
Nellis, J., von Werder, A. & Figueira-Theodorakopoulou, C. 2006, European Strategic
Investments in Chinese Banks.
Zitron, J. & Parker, D. 2006, The future of regulation of the affordable housing sector
in England, Chartered Institute of Housing.
WORKING PAPERS
Figueira-Theodorakopoulou, C., Nellis, J. & Parker, D. 2005, 'How efficient is the
Polish banking industry?', in Working Paper Series 1/05.
Figueira-Theodorakopoulou, C., Nellis, J. & Parker, D. 2005, 'Testing for international
financial markets integration', in Working Paper Series 2/05.
Updated: June 2007