tom-smith

Tom Smith
Professor Tom Smith
Frank Finn Professor of Finance
  • BCom Hons, Commerce (UQ)
  • MFM, Financial Management (UQ)
  • PhD, Finance (Graduate School of Business, Stanford University)
Ph: 
+61 7 3346 8173
Fax: 
+61 7 3346 8166
Room 333, Colin Clark Building, St. Lucia Campus

    Tom’s research interests are in the areas of Environmental Finance, Asset Pricing Theory and Tests; Design of Markets - Market Microstructure; and Derivatives. His articles have appeared in leading journals including the Journal of Financial Economics, Journal of Finance, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Journal of Business, Journal of Law and Economics, Journal of Accounting Research, Journal of Empirical Finance, Journal of Futures Markets, Journal of Fixed Income and Journal of Portfolio Management.

    Tom is particularly proud of all of his PhD students and the fact that they have more than 50 tier 1 publications. A list of Tom’s PhD students appears below:

    • Akhtar, Farida “Shareholder Wealth Effects of Bidding Firms around Bid Announcements”
    • Akhtar, Shumi “A Study of Capital Structure and Dividend Policy Determinants in Multinational and Domestic Corporations – a Cross-Country Comparison”
    • Backus, Steve "A Bayesian Model of Price Discovery on the New York Stock Exchange".
    • Barraclough, Kate “A State-Contingent Claim Approach to Asset Pricing”
    • Bettman, Jenni “Fundamental and Technical Analysis: Substitutes or Complements?”
    • Chaudhry, Ashraf “Quantitative Performance Evaluation of Benchmarked Active Funds”
    • Chen, Caroline "Capital Structure and Equity Issue of Chinese Companies"
    • Cotter, James "Effects of Parameter Stability on Tests of Financial Models"
    • Daniel, John “A Model of Prepayment in the Australian Mortgage Backed Security Market”
    • Di, Bu "Essays on Financial Risk Management"
    • Drienko, Jozef "Testing Asset Pricing Models Using Market Expectations"
    • Ellis, David "Conditional Risk Measures and Tests of Asset Pricing Theory".
    • Fleming, Jeff "The Valuation and Information Content of S&P 100 Index Options"
    • Graham, John "Correlated Information and Corporate Finance"
    • Gray, Phil “Essays on Bayesian Methods in Asset Pricing
    • Hameed, A. "An Investigation of the Sources of Predictability in Short Horizon Stock Returns"
    • Johnson, Kevin "An Examination of the Role of Firm Specific Information in Conditional Moments of Security Returns"
    • Kalotay, Egon “Portfolio Efficiency and Model Uncertainty”
    • Katselas, Dean “Transparency and Accounting Standards”
    • Kirby, Chris "Interpreting the Evidence on Predictability in Stock and Bond Returns"
    • Liao, Yin “Essays on Jumps and Common Jumps in Financial Volatility”
    • Liu, Frank "State Prices, Market Volatility and Skewness"
    • Molano, Walt "A Comparative Analysis of the Process of Privatization"
    • Monaco, Susan "Information and Liquidity Trading in Time Varying Market Structure"
    • Naik, Narayan "Stochastic Asset Pricing with Time Non-Separable Preferences and Diverse Beliefs"
    • Neck, Carolyn "What are the Drivers that Lead Women to Leave a Senior Role in Finance in Australia"
    • Ngo, Phong "Essays in Banking and Prudential Regulation"
    • Nguyen, Hannah "A State Preference Approach to Jump Risk"
    • O’Neill, Michael “State Price Density Analysis of Equity Market Volatility: Tools for Fund Managers”
    • Ostdiek, Barbara "Essays in International Asset Pricing"
    • Pan, Rulu "Essays on Corporate Dividend Policy"
    • Parameswaran, Sunil "Implications of Market Microstructure Effects for Tests of Financial Models"
    • Pattenden, Kerry “Essays on a Firm’s Financial Decisions”
    • Pholsena, Souliphone “Three Essays in Microstructure of Derivative Markets”
    • Sault, Steve “Movements in Global Stock Volatility – A Disaggregated Approach”
    • Schultz, Emma “Rethinking the Relationship Between Ownership Structure and Coporate Performance”
    • Shi, Shuping “Econometric Tests for Nonlinear Exuberance in Economics and Finance"
    • Stewart, Mark “Takeovers and Returns to Shareholders of Target Firms”
    • Su, Elsa "Three Essays on Carbon Pricing"
    • Swieringa, John "Emission Allowances and Energy Markets"
    • Tanthanongsakkun, Suparantana “Essays on Default Risk: Australian Evidence”
    • Thurecht, Linc “Models of the Bid-Ask Spread and Informed Trading on the Australian Stock Exchange”
    • Von Reibnitz, Anna "Active Opportunity and Active Performance"
    • Walsh, Kathy "Essays in Asset Pricing”
    • Wang, Kent “Volatility: A Market-Based Approach”
    • Welch, Emma "Rethinking the Relationship Between Ownership Structure and Corporate Performance"
    • Xi, He “Addressing Endogeneity: An Empirical Analysis of the Relationship between Corporate Diversification and Firm Value”
    • Zhou, Clara “Model and Estimation Uncertainty in Finance”
    • Zhu, Elizabeth “The Spurious Ratio Problem, Determinants and Impact of Long-Term Debt Issuances”

    Publications

    View full publications list

    Memberships

    • FCPA
    • AFAANZ

    Distinctions

    2008 Ranked as number one Finance Academic in Australia and New Zealand and in the top 100 worldwide in the last fifty years in terms of tier 1 publications (Journal of Financial Literature, 1 (2005) 40-62) and Advances in Financial Education 2008, vol. 6 (summer) p. 21-66
    2001 Ranked as number one Professor in Australia and New Zealand and number five in Asia Pacific (Pacific-Basin Finance Journal 9 (2001) 265-280)
    2001 Ranked as number one Professor in Australia and New Zealand and number five in Asia Pacific (Pacific-Basin Finance Journal 9 (2001) 265-280)
    1992 Chicago Board of Trade award for Best Paper on Futures
    1985 Stanford Merit Fellowship
    1980 Queensland University Medal
    1980 Thomas Brown & Sons Prize, University of Queensland
    1980 The Price Waterhouse & Co. Prize in Commerce, University of Queensland
    1980 Shell Prize in Accounting, University of Queensland
    1980 Australian Society of Accountants Prize, University of Queensland

    Major research grants

    Title Agency Year Amount
    Australia's climate strategy and positioning for the Clean Tech Revolution ARC Discovery 2016-2020 $493,000
    The economic cost of insider trading - culture, legislation, governance, gender and crisis impacts: comparative evidence from around the globe ARC Discovery 2013-2015 $404,485
    Surviving financial crises: A study of the Australian Government securities market ARC Discovery 2012-2013 $353,980
    The Role of Corporate Governance Mechanisms in Maximising the Performacne of Australian Listed Corporations ARC Linkage 2007-2009 $172,000
    Complexity, Risk Management and DynamicPortfolio Selection in Investment Management using Advances in Evolutionary Parallel-Comptuting Artificial Intelligence ARC Discovery 2007-2009 $345,000
    Valuation, Investment Timing and Equity Financing of Commercial Real Estate in the Australian Market ARC Linkage 2006-2008 $134,000
    Managing and Modelling Risk and Complexity in the Investment and Hedge Funds Industry Large ARC 2004-2006 $270,000
    An Integrated Analysis of Market Structure: Information Flows, Volume and Price Volatility ARC SPIRT 1999-2002 $250,000
    CAPM, APT or multi-beta CAPM: A new approach to estimating and testing asset pricing models Large ARC 1997-1999 $150,000
    The Determinants and Impacts of Analyst Activity in Australian Equity Markets ARC Linkage 0206-2008 $255,000