Stephen Gray

University of Queensland - Business School

Professor

University of Queensland

Brisbane, Queensland 4072

Australia

Duke University - Fuqua School of Business

Box 90120

Durham, NC 27708-0120

United States

Financial Research Network (FIRN)

C/- University of Queensland Business School

St Lucia, 4071 Brisbane

Queensland

Australia

SCHOLARLY PAPERS

27

DOWNLOADS
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CITATIONS
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Top 10,006

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43

Scholarly Papers (27)

1.

Does Gender Matter in the Boardroom? Evidence from the Market Reaction to Mandatory New Director Announcements

Number of pages: 55 Posted: 02 Nov 2011 Last Revised: 23 Jul 2012
Renee B. Adams, Stephen Gray and John Nowland
University of New South Wales, Department of Banking and Finance, University of Queensland - Business School and City University of Hong Kong
Downloads 804 (13,622)
Citation 3

Abstract:

board of directors, director appointments, female directors, gender, monitoring, stakeholders

2.

The Public Private Partnership Paradox

Number of pages: 39 Posted: 05 Apr 2010
Stephen Gray, Jason Hall and Grant Stewart Pollard
University of Queensland - Business School, University of Michigan, Stephen M. Ross School of Business and Value Decisions
Downloads 721 (21,788)

Abstract:

Public private partnership, systematic risk

3.

Bias, Stability and Predictive Ability in the Measurement of Systematic Risk

Accounting Research Journal, 2009, 22 (3), 220 – 236.,
Number of pages: 19 Posted: 10 Jul 2008 Last Revised: 13 Mar 2013
University of Queensland - Business School, University of Michigan, Stephen M. Ross School of Business, Queensland Investment Corporation and University of Queensland - Business School
Downloads 314 (74,711)
Citation 1

Abstract:

Beta, systematic risk, Capital Asset Pricing Model

4.

Unconstrained Estimates of the Equity Risk Premium

Forthcoming in Review of Accounting Studies, 2013, 18 (2), June, Accepted 26 March 2012.
Number of pages: 62 Posted: 13 Feb 2010 Last Revised: 13 Mar 2013
University of Queensland - Business School, University of Queensland - Business School, University of Michigan, Stephen M. Ross School of Business and University of Queensland - Business School
Downloads 236 (102,465)

Abstract:

Analyst forecasts, cost of equity capital, long-term growth, equity risk premium, market risk premium

5.

Corporate Governance and Bankruptcy Risk

Number of pages: 50 Posted: 18 Nov 2010 Last Revised: 04 Sep 2014
Louisiana Tech University - College of Business, University of Queensland - Business School, University of South Florida and Queensland University of Technology - School of Economics and Finance
Downloads 231 (77,027)

Abstract:

Bankruptcy, Corporate Governance, Board Characteristics, CEO Characteristics, Management Characteristics

A Contemporary View of Corporate Finance Theory, Empirical Evidence and Practice

Australian Journal of Management, Forthcoming
Number of pages: 34 Posted: 14 Aug 2015 Last Revised: 20 Jan 2016
University of Queensland, University of Queensland - Business School and University of Queensland - Business School
Downloads 198 (128,357)
Citation 1

Abstract:

Corporate Finance, Survey, Capital Structure

A Contemporary View of Corporate Finance Theory, Empirical Evidence and Practice

Australian Journal of Management, Vol. 41, No. 4, 2016
Posted: 04 Nov 2016
University of Queensland, University of Queensland - Business School and University of Queensland - Business School

Abstract:

Capital structure, corporate finance, survey

The Value of Imputation Tax Credits on Australian Hybrid Securities

International Review of Finance, 2010, 10 (3), 365-401.
Number of pages: 44 Posted: 05 Jan 2007 Last Revised: 13 Mar 2013
Clinton Feuerherdt, Stephen Gray and Jason Hall
Investec, University of Queensland - Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 187 (135,417)
Citation 1
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Abstract:

Imputation, franking, hybrid securities, preference shares

The Value of Imputation Tax Credits on Australian Hybrid Securities

International Review of Finance, Vol. 10, No. 3, pp. 365-401, September 2010
Number of pages: 37 Posted: 25 Aug 2010
Clinton Feuerherdt, Stephen Gray and Jason Hall
Investec, University of Queensland - Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 4 (554,158)
Citation 1
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Abstract:

8.

Yes, One-Day International Cricket ‘In-Play’ Trading Strategies Can Be Profitable!

Number of pages: 39 Posted: 14 Jul 2014
Hugh Norton, Stephen Gray and Robert W. Faff
University of Queensland - Business School, University of Queensland - Business School and University of Queensland
Downloads 183 (81,182)

Abstract:

in-play betting markets, Trading strategies, ODI Cricket, web-scraping, Monte Carlo simulation

9.

Professional Expertise and Board Diversity

Number of pages: 49 Posted: 05 Jul 2013 Last Revised: 17 Jan 2014
Stephen Gray and John Nowland
University of Queensland - Business School and City University of Hong Kong
Downloads 173 (102,049)

Abstract:

board diversity, board of directors, director appointments, professional expertise

Financial Inflexibility and the Value Premium

Number of pages: 35 Posted: 28 Jul 2012
Michael Poulsen, Robert W. Faff and Stephen Gray
University of Queensland - Business School, University of Queensland and University of Queensland - Business School
Downloads 113 (206,725)

Abstract:

Financial flexibility, value premium, fixed assets, leverage, financial constraints

Financial Inflexibility and the Value Premium

International Review of Finance, Vol. 13, Issue 3, pp. 327-344, 2013
Number of pages: 18 Posted: 03 Sep 2013
Michael Poulsen, Robert W. Faff and Stephen Gray
University of Queensland - Business School, University of Queensland and University of Queensland - Business School
Downloads 1 (579,542)
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Abstract:

11.
Downloads 96 (230,776)
Citation 3

Family Representatives in Family Firms

Corporate Governance: An International Review, Forthcoming
Number of pages: 42 Posted: 22 Feb 2012 Last Revised: 07 Nov 2012
En-Te (John) Chen, Stephen Gray and John Nowland
Queensland University of Technology, University of Queensland - Business School and City University of Hong Kong
Downloads 95 (234,051)
Citation 3

Abstract:

family firms, family involvement, family members, family representatives, firm performance

Family Representatives in Family Firms

Corporate Governance: An International Review, Vol. 21, Issue 3, pp. 242-263, 2013
Number of pages: 22 Posted: 09 Apr 2013
En‐Te Chen, John Nowland and Stephen Gray
affiliation not provided to SSRN, City University of Hong Kong and University of Queensland - Business School
Downloads 1 (579,542)
Citation 3
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Abstract:

Corporate Governance, Family Firms, Family Members, Family Representatives, Firm Performance

12.

Aren’t All Directors Busy? Evidence from Director Workload and Attendance

Number of pages: 64 Posted: 27 Jun 2013 Last Revised: 24 Feb 2014
Stephen Gray and John Nowland
University of Queensland - Business School and City University of Hong Kong
Downloads 93 (162,816)

Abstract:

attendance, board of directors, busy directors, CEOs, meeting frequency, workload

13.

Former Politicians as Corporate Directors: Good for Business?

Number of pages: 43 Posted: 28 May 2013
Stephen Gray, Iman Harymawan and John Nowland
University of Queensland - Business School, Universitas Airlangga and City University of Hong Kong
Downloads 88 (190,703)

Abstract:

board of directors, director appointments, director experience, politicians, political connections

14.

Multiple Founders and Firm Value

Pacific-Basin Finance Journal, Forthcoming
Number of pages: 35 Posted: 05 Nov 2011 Last Revised: 02 Oct 2012
En-Te (John) Chen, Stephen Gray and John Nowland
Queensland University of Technology, University of Queensland - Business School and City University of Hong Kong
Downloads 64 (271,219)

Abstract:

founders, multiple founders, multi-founder firms, ownership, value

15.

Strategic Liquidation of a Limited Liability Firm

Number of pages: 43 Posted: 06 Feb 2015 Last Revised: 24 Feb 2015
The University of Sydney Business School, University of Queensland - Business School and University of Queensland - Business School
Downloads 59 (251,376)

Abstract:

Voluntary liquidation, stochastic earnings model, American-Asian option

16.

Efficiency of Football Betting Markets: The Economic Significance of Trading Strategies

Accounting and Finance, Vol. 45, No. 2, pp. 269-281, July 2005
Number of pages: 13 Posted: 08 Jun 2005
Philip Gray, Stephen Gray and Timothy Roche
Monash University - Department of Banking and Finance, University of Queensland - Business School and University of Queensland - Business School
Downloads 28 (409,125)
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Abstract:

17.

Relationship between Franking Credits and the Market Risk Premium

Accounting and Finance, Vol. 46, No. 3, pp. 405-428, September 2006
Number of pages: 24 Posted: 18 Aug 2006
Stephen Gray and Jason Hall
University of Queensland - Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 26 (413,733)
Citation 9
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Abstract:

18.

On the Robustness of Short-Term Interest Rate Models

Accounting and Finance, Vol. 43, pp. 87-121, 2003
Number of pages: 35 Posted: 19 Mar 2003
Sirimon Treepongkaruna and Stephen Gray
University of Western Australia and University of Queensland - Business School
Downloads 26 (418,525)
Citation 8
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Abstract:

Short-term interest rates, mean reversion, conditional volatility

19.

Are there Nonlinearities in Short-Term Interest Rates?

Accounting and Finance, Vol. 46, No. 1, pp. 149-167, March 2006
Number of pages: 19 Posted: 08 May 2006
Sirimon Treepongkaruna and Stephen Gray
University of Western Australia and University of Queensland - Business School
Downloads 23 (433,591)
Citation 5
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Abstract:

20.

Relationship between Franking Credits and the Market Risk Premium: A Reply

Accounting & Finance, Vol. 48, Issue 1, pp. 133-142, March 2008
Number of pages: 10 Posted: 29 Feb 2008
Stephen Gray and Jason Hall
University of Queensland - Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 20 (449,146)
Citation 9
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Abstract:

21.

Effect of Credit Rating Changes on Australian Stock Returns

Accounting and Finance, Vol. 46, No. 5, pp. 755-769, December 2006
Number of pages: 15 Posted: 17 Nov 2006
Elisa Choy, Stephen Gray and Vanitha Ragunathan
Carnegie, Wylie & Company Pty Ltd, University of Queensland - Business School and University of Queensland - Business School
Downloads 20 (449,146)
Citation 3
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Abstract:

22.

The Market Value of Dividend Imputation Credits Implied by Futures Prices

Number of pages: 39 Posted: 31 Jul 2017 Last Revised: 10 Aug 2017
Damien Cannavan, Stephen Gray and Jason Hall
Financial Research Network (FIRN), University of Queensland - Business School and University of Michigan, Stephen M. Ross School of Business
Downloads 0 (485,594)

Abstract:

Imputation credits, cost of capital, regression, collinearity

23.

The Diversity of Expertise on Corporate Boards in Australia

Accounting & Finance, Vol. 57, Issue 2, pp. 429-463, 2017
Number of pages: 35 Posted: 03 Jun 2017
Stephen Gray and John Nowland
University of Queensland - Business School and City University of Hong Kong
Downloads 0 (565,313)
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Abstract:

Board of directors, Director appointments, Diversity, Firm value, Professional expertise

24.

Political and Government Connections on Corporate Boards in Australia: Good for Business?

Australian Journal of Management, Vol. 41, No. 1, 2016
Posted: 29 Jan 2016
Stephen Gray, Iman Harymawan and John Nowland
University of Queensland - Business School, Universitas Airlangga and City University of Hong Kong

Abstract:

board of directors, director appointments, director experience, government connections, political connections

25.

Explaining the Bid-Ask Spread in the Foreign Exchange Market: A Test of Alternate Models

Australian Journal of Management, Vol. 39, No. 4, 2014
Posted: 14 Nov 2014
University of Western Australia, Bond University and University of Queensland - Business School

Abstract:

Bid-ask spread, foreign exchange, inventory-holding premium, microstructure

26.

Do Trading Hours Affect Volatility Links in the Foreign Exchange Market?

Australian Journal of Management, Vol. 37, No. 1, 2012
Posted: 05 May 2012
University of Western Australia, Monash University and University of Queensland - Business School

Abstract:

common information, foreign exchange market, stochastic volatility, trading hours, volatility spillover

27.

Asset Market Linkages: Evidence from Financial, Commodity and Real Estate Assets

Journal of Banking and Finance, Forthcoming
Posted: 06 Jan 2011
University of Queensland - Faculty of Business, Economics and Law, University of Western Australia, Monash University and University of Queensland - Business School

Abstract:

Markov switching, Asset linkages, Flight to quality, Flight from quality, Contagion

Other Papers (1)

Total Downloads: 53    Citations: 0
1.

Convergence in the Ownership and Governance of East Asian Firms?

Number of pages: 21 Posted: 21 Oct 2010
En-Te (John) Chen, Stephen Gray and John Nowland
Queensland University of Technology, University of Queensland - Business School and City University of Hong Kong
Downloads 51 (165,066)

Abstract:

East Asia, board of directors, corporate governance, family firms, ownership