People

Dr Hardy Thomas

Lecturer
EBS - Finance
Dr Hardy Thomas
  • Email

  • Telephone

    +44 (0) 1206 873415

  • Location

    EBS 3.86, Colchester Campus

  • Academic support hours

    Autumn Term 2024-2025 Monday: 1200-1300 Wednesday: 1500-1700

Profile

Biography

Office Hours (Autumn Term: 2025-2026) Mon: 1400 - 1600 (Except Week 9) Wed: 1600 - 1700

Qualifications

  • 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

  • Corporate Finance (BE311)

  • Financial Intermediaries, Instruments and Markets (BE317)

  • Financial Management (BE329)

  • Financial Crises and Consequences for Society: Issues, Themes and Implications (BE432)

  • Corporate and Investment Banking (BE654)

  • Markets, Governance and Sustainability (BE877)

  • Data and Analytics (BE883)

  • Professional and Academic Development (Finance) (BE908)

  • Career Management and Professional Development (BE917)

Previous supervision

Charistoula-Sofia Stamou
Charistoula-Sofia Stamou
Thesis title: Three Essays on Equity Financing in the UK
Degree subject: Finance
Degree type: Doctor of Philosophy
Awarded date: 25/3/2019
Maryam Alhalboni
Maryam Alhalboni
Thesis title: Essays on Market Microstructure for a Portfolio of Dividend Paying Firms Around Ex-Dividend Days
Degree subject: Finance
Degree type: Doctor of Philosophy
Awarded date: 16/12/2015

Publications

Journal articles (41)

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

Alexandrou, G., Gounopoulos, D. and Thomas, HM., (2013). Mergers and Acquisitions in Maritime Industry

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

Kirby, CS., Thomas, HM., Southam, G. and Donald, R., (1999). Relative contributions of abiotic and biological factors in Fe(II) oxidation in mine drainage (vol 14, pg 511, 1999). APPLIED GEOCHEMISTRY. 14 (8), 1101-1101

Thomas, HM., (1999). Monasteries and Landscape in North East England: The Medieval Colonisation of the North York Moors.Bryan Waites. Speculum. 74 (3), 855-856

Kirby, CS., Thomas, HM., Southam, G. and Donald, R., (1999). Relative contributions of abiotic and biological factors in Fe(II) oxidation in mine drainage. Applied Geochemistry. 14 (4), 511-530

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. and Stark, AW., (1998). On the Empirical Relationship Between Market Value and Residual Income in the UK. Management Accounting Research. 8 (4)

Thomas, HM., (1998). Documents on the later Crusades, 1274-1560. JOURNAL OF CHURCH AND STATE. 40 (2), 478-479

Thomas, HM., (1997). "Discussion of" Modelling Takeover Likelihood. Journal of Business Finance and Accounting. 24 (7-8), 1031-1035

Thomas, HM., (1997). Giotto's mosaic of Christ walking on the water. Artistic tradition, meaning, history of its reception - German - KohrenJansen,H. SCRIPTORIUM. 51 (1), 191-193

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

Thomas, HM., (1996). Frederick II's manual on falconry: Catalogue from the exhibition at the Wurttembergische Landesbibliothek in honor of the 800th birthday of the Hohenstaufen emperor, December 26,1994 - German - Walz,D, Trost,V, Kilian,H. SCRIPTORIUM. 50 (1), 198-202

THOMAS, HM., (1995). VIRTUE AND VICE IN ILLUSTRATED DIDACTIC POETRY OF THE LATE-MIDDLE-AGES - STUDIES OF VINTLER,HANS 'BLUMEN DER TUGEND' AND OF 'DES TEUFELS NETZ' - GERMAN - SCHWEITZER,FJ. SCRIPTORIUM. 49 (2), 323-326

Stark, AW., Thomas, HM. and Watson, ID., (1992). ON THE PRACTICAL IMPORTANCE OF SYSTEMATIC ERROR IN CONDITIONAL IRRs. Journal of Business Finance & Accounting. 19 (3), 407-424

Thomas, HM., (1989). Zur Bedeutung von Raffaels Teppichkarton "Weide meine Lämmer". Zeitschrift für Religions- und Geistesgeschichte. 41 (3), 273-277

THOMAS, HM., (1989). HISTORY OF THE LIBRARY OF SAN-MARCO IN VENICE - ITALIAN - ZORZI,M. SCRIPTORIUM. 43 (2), 342-345

THOMAS, HM., (1989). HILDEGARD-OF-BINGEN PRAYERBOOK, FACSIMILE EDITION OF THE CODEX-LATINUS-MONACENSIS-935 FROM THE BAYERISCHEN-STAATSBIBLIOTHEK (GERMAN). SCRIPTORIUM. 43 (2), 338-340

THOMAS, HM., (1987). THE CHANGING CITY - ART AND CULTURE OF THE BOURGEOISIE IN NORTHERN GERMANY 1150-1650 - GERMAN - MECKSEPER,C. SCRIPTORIUM. 41 (1), 171-173

Thomas, HM., (1986). Gedanken zur künstlerischen Orientierung und zur Ikonographie Giottos in Padua. Zeitschrift für Religions- und Geistesgeschichte. 38 (3), 259-267

Thomas, HM., (1985). Der politische, besonders der revolutionäre Charismatiker. Zeitschrift für Religions- und Geistesgeschichte. 37 (4), 289-308

Thomas, HM., (1985). Die Malerei des Impressionismus in ihrem "historischen Widerspruch". Zeitschrift für Religions- und Geistesgeschichte. 37 (1), 72-77

Thomas, HM., (1984). Savonarola - ein Porträtbild. Zeitschrift für Religions- und Geistesgeschichte. 36 (4), 313-334

Thomas, HM. and Lazzarini, L., (1984). Zur kürzlichen Feststellung von Korrekturen an Giottos Hauptwerk in Padua. Zeitschrift für Religions- und Geistesgeschichte. 36 (3), 258-260

THOMAS, HM., (1984). EARLY-NEW-HIGH-GERMAN DOCUMENTS IN CARTHUSIAN LIBRARIES - STUDIES ON THE CONSERVATION OF VERNACULAR LITERATURE IN CARTHUSIAN MONASTERIES OF UPPER GERMANY TILL THE ONSET OF THE REFORMATION - GERMAN - SEXAUER,WD. ZEITSCHRIFT FUR RELIGIONS-UND GEISTESGESCHICHTE. 36 (2), 176-176

THOMAS, HM., (1984). DISCOVERY OF CHILDHOOD - GERMAN - RABE,H. ZEITSCHRIFT FUR RELIGIONS-UND GEISTESGESCHICHTE. 36 (2), 175-176

THOMAS, HM., (1983). VISION AND VISION LITERATURE IN THE MIDDLE-AGES - GERMAN - DINZELBACHER,P. ZEITSCHRIFT FUR RELIGIONS-UND GEISTESGESCHICHTE. 35 (4), 373-373

Thomas, HM., (1983). Giottos Ordensallegorien in der Basilika S. Francesco in Assisi. Zeitschrift für Religions- und Geistesgeschichte. 35 (1), 72-80

THOMAS, HM., (1983). THE SECRET BOOK OF THE CATHARS, INTERROGATIO-IOHANNIS - BOGARMILES APOCRYPHAL TEXT - FRENCH - BOZOKY,E. ZEITSCHRIFT FUR RELIGIONS-UND GEISTESGESCHICHTE. 35 (2), 188-188

Thomas, HM., (1983). "Religiöse" Phänomene in der Etablierung der Revolution. Zeitschrift für Religions- und Geistesgeschichte. 35 (2), 145-160

TANTON, MT., CAMPBELL, AJ. and THOMAS, HMG., (1983). A LOW-COST, EFFICIENT APPARATUS FOR EXTRACTION OF ARTHROPODS FROM FOREST LITTER. AUSTRALIAN FOREST RESEARCH. 13 (3-4), 293-298

Contact

hardt@essex.ac.uk
+44 (0) 1206 873415

Location:

EBS 3.86, Colchester Campus

Academic support hours:

Autumn Term 2024-2025 Monday: 1200-1300 Wednesday: 1500-1700