- Benchmark returns and the cost of capital. Corporate Finance. Capital structure. Real and strategic options and corporate valuation. Empirical finance and asset pricing. Modeling interest rates and pricing interest rate derivative securities. Modeling energy prices and pricing energy derivative securities (especially electricity derivatives). Valuation of exotic derivatives.
- Faff, Robert W., Gray, Stephen and Tan, Kelvin Jui Keng (2016) A contemporary view of corporate finance theory, empirical evidence and practice. Australian Journal of Management, 41 4: 662-686. doi:10.1177/0312896216632032
- Gray, Stephen (2016) Dividend imputation and the corporate cost of capital. JASSA: The Finsia Journal of Applied Finance, .
- Morrison, David and Gray, Stephen (2016) Phoenixing at the fulcrum: Less faff, faster forward formulation. Insolvency Law Journal, 24 4: 267-279.
- Darrat, Ali F., Gray, Stephen, Park, Jung Chul and Wu, Yanhui (2016) Corporate governance and bankruptcy risk. Journal of Accounting, Auditing and Finance, 31 2: 163-202. doi:10.1177/0148558X14560898
- Gray, Stephen and Nowland, John (2015) The diversity of expertise on corporate boards in Australia. Accounting and Finance, 1-35. doi:10.1111/acfi.12146
- Norton, Hugh, Gray, Steve and Faff, Robert (2015) Yes, one-day international cricket 'in-play' trading strategies can be profitable!. Journal of Banking and Finance, 61 S164-S176. doi:10.1016/j.jbankfin.2015.08.031
- Gray, Stephen, Harymawan, Iman and Nowland, John (2014) Political and government connections on corporate boards in Australia: good for business?. Australian Journal of Management, 41 1: 3-26. doi:10.1177/0312896214535788
- Treepongkaruna, Sirimon, Brailsford, Tim and Gray, Stephen (2013) Explaining the bid-ask spread in the foreign exchange market: a test of alternate models. Australian Journal of Management, OnlineFirst 1-20. doi:10.1177/0312896213499028
- Gray, Stephen and Nowland, John (2013) Is prior director experience valuable?. Accounting and Finance, 53 3: 643-666. doi:10.1111/j.1467-629X.2012.00481.x
- Gray, Stephen (2013) Consultant report - SFG Consulting - Estimation of the regulated profit margin for electricity retailers in NSW - June 2013 South Bank, QLD, Australia: SFG Consulting
- Accounting and Finance Association of Australia and New Zealand (AFAANZ)
- Asia-Pacific Finance Association (AFA)
|'Capital management in a stochastic earnings framework', (with P.K. Gray and J.T. Alcock).||ARC Discovery Project||2006-2008||$270,000|
|'Australian costs of equity', (with M. Zhong).||ARC Discovery Grant||2005-2007||$195,000|
|'Quantification issues in Corporate valuation, the cost of capital, and optimal capital structure', (with V. Ragunathan and J.L. Hall).||ARC Discovery Grant||2002-2004||$126,000|
|Australian Awards for University Teaching (AAUT)||Higher Education Innovation Program (HEIP) Grant||2002||Undisclosed|
|'Electricity contracts and securities in a deregulated market: Valuation and risk management for market participants||ARC Strategic Partnership Grant||1997-2000||$233,150|