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

    Spring Term 2024 Wednesday: 1130-1330 Friday: 1330-1430

Profile

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

  • Financial Intermediaries, Instruments and Markets (BE317)

  • Financial Management (BE329)

  • Financial Crashes and Consequences (BE432)

  • Markets, Governance and Ethics (BE877)

  • Finance Research Project (BE937)

  • Data and Analytics (BE883)

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 (14)

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

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

Location:

EBS 3.86, Colchester Campus

Academic support hours:

Spring Term 2024 Wednesday: 1130-1330 Friday: 1330-1430