Dr Hardy Thomas
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Email
hardt@essex.ac.uk -
Telephone
+44 (0) 1206 873415
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Location
EBS 3.86, Colchester Campus
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Academic support hours
Autumn Term 2024-2025 Monday: 1200-1300 Wednesday: 1500-1700
Profile
Biography
Office Hours (Autumn Term: 2024-2025) Mon: 1200 - 1300 (Except Week 9) Wed: 1500 - 1600
Qualifications
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BA, MSc, DPhil (Ulster).
Research and professional activities
Research interests
Corporate control, governance systems & political economy of risk
Valuation of assets
Real option portfolios and investment appraisal
Investment cash flow sensitivities and frictions in credit channels
Market microstructure and high frequency trading behaviours
Current research
Dividend and repurchase patterns among corporations. (Draft Paper)
Investment cash flow sensitivities and restricted credit channels.
Frictions in raising external financing: windows of managerial opportunism or real needs?
Duration analysis of investment timing, real options and managerial confidence.
Market microstructure and high frequency trading behaviour. (Draft Papers)
Initial Public Offerings (IPOs) and Seasoned Equity Offerings (SEOs)
Initial Public Offerings and Seasoned Equity Offerings of corporate securities (Draft Papers, PhD Student)
Teaching and supervision
Current teaching responsibilities
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Financial Intermediaries, Instruments and Markets (BE317)
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Financial Management (BE329)
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Financial Crises and Consequences for Society: Issues, Themes and Implications (BE432)
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Corporate and Investment Banking (BE654)
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Markets, Governance and Sustainability (BE877)
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Data and Analytics (BE883)
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Professional and Academic Development (Accounting) (BE907)
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Professional and Academic Development (Finance) (BE908)
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Professional and Academic Development (Management and Marketing) (BE909)
Previous supervision
Degree subject: Finance
Degree type: Doctor of Philosophy
Awarded date: 25/3/2019
Degree subject: Finance
Degree type: Doctor of Philosophy
Awarded date: 16/12/2015
Publications
Journal articles (15)
Anagnostopoulos, Y., Alexandrou, G. and Thomas, HM., (2024). European banking M&As: The role of financial advisors. Review of Quantitative Finance and Accounting. 63 (4), 1193-1231
Coakley, J., Gazzaz, H. and Thomas, H., (2017). The impact of mispricing and growth on UK M&As. European Journal of Finance. 23 (13), 1219-1237
Coakley, J., Gazzaz, H. and Thomas, H., (2017). The impact of mispricing and growth on UK M&As. European Journal of Finance. 23 (13), 1219-1237
Alexandrou, G., Gounopoulos, D. and Thomas, HM., (2014). Mergers and acquisitions in shipping. Transportation Research Part E: Logistics and Transportation Review. 61, 212-234
Coakley, J., Fu, L. and Thomas, H., (2010). Misvaluation and UK mergers 1986?2002. Applied Financial Economics. 20 (3), 201-211
Gadad, A., Stark, AW. and Thomas, H., (2009). Divestitures: wealth transfers or real economic gains?. Applied Financial Economics. 19 (13), 1073-1081
Coakley, J., Thomas, H. and Wang, H., (2008). The short-run wealth effects of foreign divestitures by UK firms. Applied Financial Economics. 18 (3), 173-184
Coakley, J., Fu, L. and Thomas, H., (2007). A New Misvaluation Perspective on Why Cash Is King in M&As
Magid Gadad, A. and Thomas *, HM., (2005). Sources of shareholders’ wealth gains from asset sales. Applied Financial Economics. 15 (2), 137-141
Thomas, HM., Coakley, J. and Wang, HM., (2005). Why are the Wealth Effects of UK Firms' Foreign Divestitures so Large?
Gadad, A-M. and Thomas, HM., (2004). Do asset sales lead to improvements in operating performance?. Applied Economics. 36 (8), 865-871
Thomas, HM. and Coakley, J., (2004). Hot Markets, Momentum and Investor Sentiment in UK Acquisitions
Stark, AW. and Thomas, HM., (1998). On the empirical relationship between market value and residual income in the U.K.. Management Accounting Research. 9 (4), 445-460
Thomas, HM., (1997). "Discussion of" Modelling Takeover Likelihood. Journal of Business Finance and Accounting. 24 (7-8), 1031-1035
Green, JP., Stark, AW. and Thomas, HM., (1996). UK EVIDENCE ON THE MARKET VALUATION OF RESEARCH AND DEVELOPMENT EXPENDITURES. Journal of Business Finance & Accounting. 23 (2), 191-216
Contact
Academic support hours:
Autumn Term 2024-2025 Monday: 1200-1300 Wednesday: 1500-1700
