Prof Phil Holmes

Position:

Chair in Financial Risk Management
Director of Student Education for Accounting and Finance

Email:prh@lubs.leeds.ac.uk
Telephone:+44 (0) 113 343 1677
Location:2.03c
Category:Academic, Accounting and Finance
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Profile

Qualifications

PhD, Brunel University
MA in Public and Industrial Economics, University of Newcastle Upon Tyne
BA Economics, Newcastle Upon Tyne Polytechnic

Research

Current research interests:

  • Financial Derivatives
  • Behavioural finance
  • Corporate financial decisions

Teaching

  • Visiting professor at Chulalongkorn University, Thailand, since 2007.

Student Feedback

  • 'Excellent teaching staff in both lectures and classes!'
  • 'Good professor'
  • 'Excellent module, teachers were of high quality'
  • 'The course lecturer and class tutor are exceptionally good'

Publications

Refereed Publications

  1. (with S. Badreddinea and E. C. Galariotis) "The relevance of information and trading costs in explaining momentum profits: Evidence from optioned and non-optioned stocks," Journal of International Financial Markets, Institutions & Money, 2012.
  2. (with V. Kallinterakis and M. P. Leite Ferreira) "Herding in a Concentrated Market: A Question of Intent", European Financial Management, forthcoming.
  3. (with A. Hunt and I. Stone) “An Analysis of New Firm Survival Using a Hazard Function” Applied Economics, 42, 2010, 185-195.
  4. (with M. Ekkayokkaya and K. Paudyal) “Limited Information and the Sustainability of Unlisted Target Acquirers’ Returns”, Journal of Business Finance and Accounting, 36, 2009, 1201–1227.
  5. (with M. Ekkayokkaya and K. Paudyal) “The Euro and the Changing Face of European Banking:  Evidence from Mergers and Acquisitions”, European Financial Management, 15, 2009,451-476.
  6. (with F. Chau and K. Paudyal) “The Impact of Universal Stock Futures on Feedback Trading and Volatility Dynamics”, Journal of Business Finance and Accounting, 35, 2008, 227-249.
  7. (with E. Galariotis and X. Ma) “Contrarian and Momentum Profitability Revisited: Evidence from the London Stock Exchange 1964 – 2005”, Journal of Multinational Financial Management, 17, 2007, 432-447.
  8. (with J. Rougier) “Trading Volume and Contract Rollover in Stock Index Futures”, Journal of Empirical Finance, 12, 2005, 317-338.
  9. (with D. Butterworth) “The Hedging Effectiveness of UK Stock Index Futures Contracts using an Extended Mean Gini Approach: Evidence for the FTSE 100 and FTSE-Mid 250 Contracts”, Multinational Finance Journal, 9, 2005, 131-160.
  10. (with M. Tomsett) “Information and Noise in UK Futures Markets”, Journal of Futures Markets, 24, 2004, 711-731
  11. (with D. Butterworth) “Inter-Market Spread Trading: Evidence from UK Index Futures Markets”, Applied Financial Economics, 12, 2002, 783-790.
  12. (with D. Butterworth) “The Hedging Effectiveness of Stock Index Futures: Evidence for the FTSE-100 and FTSE-Mid 250 Indexes Traded in the UK”, Applied Financial Economics, 11, 2001, 57-68.
  13. (with M. W. Wong) “Foreign Investment, Regulation and Price Volatility in South-east Asian Stock Markets”, Emerging Markets Review, 2, 2001, 371-386.
  14. (with D. Butterworth) “Ex ante Hedging Effectiveness of UK Stock Index Futures Contracts: Evidence for the FTSE 100 and FTSE-Mid 250 Contracts”, European Financial Management, 6, 2000, 441-457.
  15. (with D. Butterworth) “Mispricing in Stock Index Futures Contracts: Evidence for the FTSE 100 and FTSE-Mid 250 Contracts”, Applied Economics Letters, 12, 2000, 795-801.
  16. (with A. Antoniou and R. Priestley) “The Effects of Stock Index Futures on Stock Index Volatility: An Analysis of the Asymmetric Response of Volatility to News”, Journal of Futures Markets, 18, 1998, 151-166.
  17. (with S. Abdelrahim) “The Impact of Regulatory Change and Market Shocks on the Weak-form Efficiency of the Kuwait Stock Exchange” Ekonomia, 2, 1998, 117-134 (invited paper for special issue on emerging capital markets).
  18. (with A. Antoniou and N. Ergul) “Market Efficiency, Thin Trading and Non-linear Behaviour: Evidence from an Emerging Market”, European Financial Management, 3, 1997, 175-190.
  19. (with A. Antoniou, N. Ergul and R. Priestley) “Technical Analysis, Trading Volume and Market Efficiency: Evidence from an Emerging Market”, Applied Financial Economics, 7, 1997, 361-365.
  20.  “Stock Index Futures Hedging: Hedge Ratio Estimation, Duration Effects, Expiration Effects and Hedge Ratio Stability”, Journal of Business Finance and Accounting, 23, 1996, 63-77.
  21. “Spot Price Volatility, Information and Futures Trading: Evidence from a Thinly Traded Market”, Applied Economics Letters, 3, 1996, 63-66.
  22. (with A. Antoniou) “Futures Market Efficiency, the Unbiasedness Hypothesis and Variance-Bounds Tests: The Case of the FTSE-100 Futures Contract”, Bulletin of Economic Research, 48, 1996, 115-128.
  23. (with A. Antoniou) “Futures Trading, Information and Spot Price Volatility: Evidence for the FTSE-100 Stock Index Futures Contract using GARCH”, Journal of Banking and Finance, 19, 1995, 117-129.
  24. “Ex ante Hedge Ratios and the Hedging Effectiveness of the FTSE-100 Stock Index Futures Contract”, Applied Economics Letters, 2, 1995, 56-59.
  25. “Hedging Short-Term Interest Rate Risk with Futures: A More Accurate Approach - A Commentary”, Review of Futures Markets, 13, 1994, 593-598.
  26. (with A. Antoniou) “Systematic Risk and Returns to Stock Index Futures Contracts: International Evidence”, Journal of Futures Markets, 14, 1994, 773-787.
  27. (with M. Lynch and I. Molho) “An Econometric Analysis of the Growth in the Numbers Claiming Invalidity Benefit”, Journal of Social Policy, 20, 1991, 87-105.
  28. (with M. Dietrich) “Financial Institutions and the Estate Agents Industry in the 1980s”, Service Industries Journal, 11, 1991, 481-490.
  29. (with M. Lynch) “An Analysis of Invalidity Benefit Claim Durations for New Male Claimants in 1977/78 and 1982/83”, Journal of Health Economics, 9, 1990, 71-83.
  30. (with M. Dietrich) “The Market Structure of the Estate Agent's Industry in the 1980s: An Empirical Investigation”, Applied Economics, 22, 1990, 629-638.
  31. “The Provision, Role and Economic Impact of State Sickness Insurance: A Review”, British Review of Economic Issues, 12, 1990, 17-39.

 

Editorships/ Editor’s Publications

  1. Founding editor (with K. Paudyal) of Review of Behavioral Finance (2009 – date)
  2. (with K. Paudyal) “Editorial”, Review of Behavioral Finance, 1, 2009, 1-2. (Managing Editors’ introduction to first issue).
  3. (with K. Paudyal) “Introduction”, European Financial Management, 14, 2008, 11-11. (Guest Editors’ introduction to special issue on Behavioral Finance).
  4. Member of the Editorial Advisory Board of the International Journal of Managerial Finance (2005 - )

 

Published Books and Chapters in Books

  1. Investment Appraisal, 1998, 160, International Thomson Publishing, London (reprinted 1999).
  2. “The Provision of Finance: Is the North Disadvantaged?”. In The Northern Region Economy: Progress and Prospects in the North of England, (ed. by Lynne Evans, Peter Johnson and Barry Thomas), 1995, 151-170, Mansell Publishing Limited, London.
  3. (with R. Dixon) Financial Markets: An Introduction, 1995, 162, Chapman and Hall, London. (Revised version reprinted in paperback of:)
  4. (with R. Dixon) Financial Markets: The Guide for Business, 1992, 162, Chapman and Hall, London.
  5. (with M. Lynch and I. Molho) “An Analysis of the Growth in Invalidity Benefit Claims”, 16-19, Department of Social Security Research Yearbook, HMSO, 1991.
  6. “Housing”. In Markets, Intervention and Planning, (ed. by B. A. Roper and B. Snowdon), 1987, 213-233, Longman Group Ltd., London.