“By creating we think, by living we learn” Patrick Geddes
David Power is Professor of Business Finance in the School. After graduating from the University of Cork in 1986 with a first class honours degree, he then achieved a Masters degree from the London School of Economics and Political Science in 1987. It was also during that year that he took up his first academic post as a lecturer in the department. He was awarded a PhD by the University of Dundee in 1992 and attained the position of Senior Lecturer in 1993. He was appointed to the Chair in Business Finance in 1996. Since being promoted to the Chair in Business Finance, he has continued to publish widely in the areas of corporate governance, market-based research and emerging market performance. Indeed, he was recently ranked among the top 300 most prolific authors in the world based upon publications in finance journals.
D.M.Power
(with A. Gunasekarage and T.T.Zhou) "Do Real Estate Assets Hedge Inflation Better Than Financial Assets? Some New Zealand Evidence", Briefings in Real Estate Finance, 5, 2005, pp39-46
(with A.Murray, C.D.Sinclair, R.Gray) "Do financial markets care about social and environmental disclosure: Further evidence and exploration from the UK", Accounting, Auditing & Accountability Journal, 19(2), 2006, pp228-255.
(with A. Gunasekarage) "Anomalous Evidence on the Dividend Announcement Effect", Managerial Finance, 32(3), 2006, pp209-226.
(with A. Gunasekarage) "Stock Market Overreaction: Some evidence from the Colombo Stock Exchange", Journal of Emerging Markets, 10(1), 2005, pp5-17.
(with Y. Wang and A. Gunasekarage) "Return and Volatility Spillovers from Developed to Emerging Capital Markets: The Case of South Asia", Contemporary Studies in Economics & Financial Analysis, 86, 2005, pp139-166.
(with A. Gunasekarage and Anirut Pisedtasalasai)"Macroeconomic Influence on the Stock Market: Evidence from an an Emerging Market in South Asia", Journal of Emerging Market Finance, 3, No. 3, 2004, pp285-304.
(with A.Gunasakerage) "The post-announcement performance of dividend-changing companies: The dividend signalling hypothesis revisited", Accounting and Finance, 42, 2002, pp131-152.
(with N.Kreander, R.H.Gray and C.D.Sinclair) "The financial performance of European ethical funds 1996-1998", Journal of Accounting and Finance, 1, 2002, pp3-22.
"Launching a new corporate governance degree", Corporate Governance, 3(2), 2001, pp7-8.
(with A. Gunasakerage) "The profitability of moving average trading rules in South Asian stock markets", Emerging Markets Review, 2(1), 2001, pp17-33.
(with J.Dayha and A.A.Lonie) "Changes in corporate management: Do they have an impact on share prices and company earnings?", Managerial Finance, 26(9), 2000, pp66-79.
(with C.D.Sinclair, R.H.Gray and M.Javad) "Social and environmental disclosure and corporate characteristics: A research note and extension", Journal of Business Finance and Accounting, 28, 2000, pp327-356.
Back to TopB.M.Burton, C.V.Helliar and D.M.Power
"Practitioners' Perspectives on the IPO Process and the Perils of Flotation", European Journal of Finance, 2006, 12(8), pp671-692.
"Practitioners' Perspectives on the Seasoned Equity Offering Process", British Accounting Review, 2005, 37(2), pp153-176.
"The Benefits and Costs of Deeply-Discounted Rights Issues - Practitioners' Viewpoints", Applied Economics Letters, 2004, 11, pp. 369-372.
"The Role of Corporate Governance in the IPO Process: A Note", Corporate Governance: An International Review, 2004, 12, pp.353-360.
"The Impact of Trend Behaviour on Seasoned Equity Offering Practices in the UK", Finance Letters, 2004, 2, No. 62, pp25-29.
A Behavioural Finance Perspective on Initial Public Offerings and Seasoned Equity Offerings, Research Monograph, Association of Chartered Certified Accountants, 2003, pp1-138.
"Seasoned equity offers: A case study on a firm's decision to issue shares", Alternative Perspectives on Finance Conference Proceedings, 2000, www.departments.bucknell.edu/management/apfa/dundee%20papers.htm and CD.
B.Burton and D.M.Power
(with B.Balmforth and S.R.Cross) "Evidence on UK directors' compliance with disclosure timing regulations", Journal of Financial Regulation and Compliance, 2007, 15(4), pp381-393
(with T McCluskey) "Evidence on Irish Financial Directors' Views about Dividends", Qualitative Research in Accounting and Management, 2007, 4(2)
(with T.McCluskey & C.D.Sinclair) "Evidence on the Irish stock market's reaction to dividend announcements", Applied Financial Economics, 16(8), 2006, pp617-628.
(with J.Wang) "Analysis of the Overreaction Effect In the Chinese Stock Market", Applied Economics Letters, 2004, 11, pp 437-442.
"Evidence on the determinants of equity issue method in the UK", Applied Financial Economics, 13, February 2003, pp145-157.
(with A.A.Lonie) "Insider trading growth opportunities and the market reaction to new financial announcements", European Journal of Finance, 9 August 2003, pp301-322.
(with T.McCluskey) "Evidence on Irish Company Managers' views about Dividend Policy", Irish Accounting Review, 10, December 2003, pp29-52.
(with A.A.Lonie) "The impact of corporate growth opportunities on the market response to new equity announcements", Applied Financial Economics, 10, February 2000, pp27-36.
(with A.A.Lonie) "Does the Issue Method Influence the Market Reaction to Seasoned Equity Offer Announcements?", Applied Economics Letters, June 1999, pp459-462.
(with A.A.Lonie) "Corporate Growth and the Equity-Debt Choice", Applied Economics Letters, Jan 1996, pp1-4.
D.J.Collison and D.M.Power
(with N. Lorraine) "An analysis of the stock market impact of environmental performance information"
Accounting Forum, 28, 2004, pp7-26.
(with N.Lorraine) "An exploration of corporate attitudes to the significance of environmental information for stakeholders", Corporate Social Responsibility and Environmental Management, 10, 2003, pp199-211.
(with C.Hutten) "The BMW takeover of Rover", Journal of Accounting Case Research, 5(2), Summer 2000, pp69-80.
Back to TopD.Collison, L.Stevenson and D.M. Power
(with G.Cobb) FTSE4Good: perceptions and performance, 2005, London: Certified Accountants Educational Trust
(with G. Cobb) "The Financial Performance of FTSE4Good Indices", Corporate Social Responsibility and Environmental Management, Vol 14.
D.J.Collison, J.Ferguson, L.Stevenson and D.M.Power
"Accounting Textbooks: Exploring the production of a cultural and political artifact", Accounting Education, 15(3), 2006, pp243-260.
"What are recommended accounting textbooks teaching students about corporate stakeholders?", The British Accounting Review, 37(1), 2005, pp23-46.
T.M.Dunne, C.V.Helliar and D.M.Power
(with C.Mallin, L.Moir and K.Ow-Yong) The Financial Reporting of Derivatives and Other Financial
Instruments: A Study of the Implementation and Disclosures of FRS 13, Institute of Chartered Accountants
in England and Wales, London, 2003, pp1-155.
"Accounting for derivatives: A summary of recent accounting standards", Balance Sheet: Strategies for Risk and Balance Sheet Management, 11, 2003, pp23-28.
"Accounting for derivatives: The implementation of FRS 13", InterACT, September 2003, pp18-19.
S.Fifield and D.M.Power
(with D.G.S.Knipe) "The Performance of Moving Average Rules in Emerging Stock Markets", Applied Financial Economics (Forthcoming).
(with C.A.J. Middleton) "An Investigation of the Benefits of Portfolio Investment in Central and Eastern European Stock Markets", Research in International Business and Finance (Forthcoming).
(with C.A.J. Middleton) "Practioner Perspectives on Investment in the Central and Eastern European Region", Journal of Emerging Markets (Forthcoming).
"The Role of Economic and Fundamental Factors in Emerging Market Share Returns: A Comparison of Asian and Non-Asian Countries", Journal of Accounting & Finance, 2006, Vol.5, pp. 1-18.
(with C.A.J. Middleton) "Practitioner Perspectives on Investment in the Central and Eastern European Region", 2006, Financial World, Web-Magazine of the Institute for Financial Services, August
(with C.D. Sinclair & R. Lonie) "Could the 1997 Asian Crisis Have Been Anticipated? Evidence from Macroeconomic Data", Journal of Accounting and Finance, 2006, Vol. 5, pp. 61-78
(with C.A.J. Middleton) "Investment in Central and Eastern European Equities: An Investigation of the Practices and Viewpoints of Practitioners", Studies in Economics and Finance, 2007, Vol. 24, No. 1, pp.13-30.
(with C.A.J.Middleton) "Examining the nature of the gains from investment in the emerging stock markets of the Central and Eastern European region", Applied Financial Economics Letters, 3, 2007, pp85-90.
(with C.D.Sinclair) "An Analysis of Trading Strategies in Eleven European Stock Markets", European Journal of Finance, 11(6), 2005, pp1-18.
"The origins of the 1997 Asian financial crisis", Eclectic, Summer 2002, pp21-26.
(with C.D.Sinclair) "Emerging stock markets: A more realistic assessment of the gains from diversification", Applied Financial Economics, 12, 2002, pp213-219.
(with C.D.Sinclair) "Macroeconomic factors and share returns: An analysis using emerging market data", International Journal of Finance and Economics, 7(1), 2002, pp51-62.
(with A.A.Lonie) "An analysis of country, industry and company influences on returns of equities from emerging stock markets", in E.Meric and G.Meric (eds), Global Financial Markets at the Turn of the Century, Elsevier Science, 2001, pp197-212.
"A study of whether macroeconomic factors influence emerging market share returns", Global Economy Quarterly, 1(4), 2000, pp315-336.
Back to Top
G.M.Hannah and D.M.Power
(with K.A.Abdulqaber) 'Test of the weak form of the Efficient Markets Hypothesis for the Saudi Stock Market', Journal of Emerging Markets Finance, Vol 6, No. 2, pp167-190
(with K.A.Al-Abdulqadar) "The appraisal of ordinary shares by Saudi investors", Research in International Business and Finance, 21(1), 2007, pp69-86.
G.M.Hannah, C.R.Dey, and D.M.Power
"Trust and distrust in a network-style organisation:GPs experiences and the views of a Scottish local health care co-operative", Accounting Forum, 30(4), 2006
"Attempts to improve accountability in Primary Health Care: evidence from a GP practice in Scotland", Qualitative Research in Accounting and Management, 2(2),2005, pp129-151.
C.V.Helliar and D.M.Power
(with C.D.Sinclair)"Managerial irrationality in financial decision making", Managerial Finance,
31(4), 2005, pp1-11.
(with A.A.Lonie and C.D.Sinclair) "Scottish accountants attitudes to risk", International Journal of Accounting, Auditing & Taxation, 11(2), 2002, pp165-190.
(with A.A.Lonie and C.D.Sinclair) "Attitudes of UK managers to risk and uncertainty", Balance Sheet, 9(4), 2001, pp7-10.
(with A.A.Lonie and C.D.Sinclair) Attitudes of UK Managers to Risk and Uncertainty, ICAS Monograph, Glasgow, 2001, pp1-98.
(with A.A.Lonie and C.D.Sinclair) "The risks of investing in emerging markets; fund managers' perspectives", Journal of European Financial Services, 4(1), 2000, pp7-30.
C.V.Helliar, R.Michaelson and D.M.Power
(with C.D.Sinclair and C.Allison) "Group work and the web: Finesse and Tags", in D.Hawridge and R.Kaye
(eds), Learning and Teaching for Business: Case Studies of Successful Innovation, Kogan Page, London,
2003, pp122-137.
(with C.D.Sinclair) "Using a portfolio management game (Finesse) to teach finance", Accounting Education, 9(1), 2000, pp37-51.
"Evaluating Finesse: A case study in group-based CAL", Computers and Education, 37, 2001, pp67-80.
D.M.Power and R.A.Brown
(with G.Gettinby and C.D.Sinclair) "An analysis of the distribution of extremes in indices of share returns in the US, UK and Japan from 1963 to 2000", International Journal of Finance & Economics, 11(2), 2006, pp97-113.
(with G.Gettinby and C.D.Sinclair) "An Analysis of the Distribution of Extreme Share Returns in the UK From 1975 to 2000", Journal of Business Finance and Accounting, 31(5 & 6), 2004, pp 607-646.
Back to TopDavid's research interests focus on stock market efficiency both in the UK and in emerging markets. He has published papers on the ability of share trading strategies to yield profits. In addition, he has researched various aspects of Corporate Governance including: the performance of firms with dual CEOs, the role of managerial entrenchment in preventing top executive change and the accounting performance of companies which change their top team of managers. He is also working on the share price response to new financing announcements, news of changes in investment plans and variations in the holding by directors of shares in their own firm.
T.M.Dunne, S.G.M.Fifield, A.M.Fox, G.M.Hannah, C.V.Helliar and D.M.Power (with M.Veneziani, University of Brescia, Italy): "The Introduction of International Financial Reporting Standards: An Analysis of their Impact on the Usage and content of company Financial Statements", ICAS, 16,750, (11/05), 2 years
D.J.Collison, J.Ferguson, L.A.Stevenson and D.M.Power: "The Role of the Textbook and Other Teaching Materials in the Construction of Accounting Knowledge: A Stakeholder Approach", Institute of Chartered Accountants of Scotland (ICAS), 7,000, 2005.
C.V.Helliar, R.Michaelson and D.M.Power (with C.Allison, St Andrews): "Finesse", Stewart-Ivory Foundation, 62,000, (10/03), 2 years.
D.J.Collison and D.M. Power: "A Survey of UK Finance Directors' Perceptions about Dividends", ACCA, 1,250,(02)
B.Burton, C.V.Helliar and D.M.Power: "A Behavioural Finance Perspective on SEOs and IPOs", ACCA, 6,600, (4/01),18 months.
T.M.Dunne, C.V.Helliar and D.M.Power (with C.Mallin, L.Moir and K.Ow-Yong:FRS13: Implementation and Disclosure Issues", ICAEW, 18,500, (9/00), 21 months.
C.V.Helliar, R.Michaelson, D.M.Power and C.D.Sinclair (with C.Allison): "Tutor and Group Support (TAGS)", SHEFC, 333,000, (4/99), 27 months.
C.V.Helliar, A.A.Lonie, D.M.Power, and C.D.Sinclair: "Managers Perceptions of Risk", ICAS, £7,200, (3/97) (2 years).
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