Australian School of Business > Schools

Ronan Powell

Ronan Powell 

PhD, University of Essex
MSc, University of Ulster
BA (Hons), University of Ulster

Associate Professor

Phone:

+61 2 9385 4925 

Fax:

+61 2 9385 6347 

Room:

361 

Address:

Australian School of Business building

Publications

Academic journal papers

 

  • The impact of layoffs and divestitures on firm survival (with Alfred Yawson), forthcoming 2012, International Review of Finance
  • The sources of value destruction in acquisitions by entrenched managers (with Jarrad Harford and Mark Humphery-Jenner), forthcoming, Journal of Financial Economics, 2012.
  • Firm size, takeover profitability, and the effectiveness of the market for corporate control: Does the absence of anti-takeover provisions make a difference? (with Mark Humphrey-Jenner), Journal of Corporate Finance 17(3), 418-437, 2011
  • Excess cash holdings and shareholder value (with Edward Lee), Accounting and Finance 51(2), 549-574, 2011. 
  • A comparison of error rates for EVA, residual income, GAAP-earnings, and other metrics using a long-window valuation approach, (with John Forker), European Accounting Review 17, 471-502, 2008 
  • The market response to information quality shocks: the case of Enron, (with Peter Dunne, H. Falk and John Forker), Applied Financial Economics 18, 1051-1066, 2008 
  • Are corporate restructuring events driven by common factors? Implications for prediction studies, (with Alfred Yawson), Journal of Business Finance and Accounting 34, 1169-1192, 2005 
  • Industry aspects of takeovers and divestitures: Evidence from the UK (with Alfred Yawson), Journal of Banking and Finance 29, 3015-3040, 2005 
  • Do takeovers create real gains? Some UK evidence (with Andrew Stark), Journal of Corporate Finance 11, 293-317, 2005 
  • Takeover prediction and portfolio strategies: A multinomial approach, Multinational Finance Journal 8, 35-74, 2004 
  • Takeover prediction and portfolio performance, Journal of Business Finance and Accounting 28, 993-1011 
  • Identifying the sources of gains from takeovers (with Stuart Manson, Andrew Stark and Hardy Thomas), Accounting Forum 24, 1-24, 2000 
  • Ownership structure, managerial turnover and takeovers: Further UK evidence on the market for corporate control (with Jay Dahya), Multinational Finance Journal 2, 62-83, 1998 
  • Modelling takeover likelihood, Journal of Business Finance and Accounting 24, 1009-30, 1997 
  • Modelling takeover likelihood - Comparisons using Logit Analysis, Neural Networks and Expert Systems (with Ken Dyson), Financial Information Systems Conference - Proceedings, 23-37, 1996
     

Research reports and book chapters

 

  • Earnings measurement and the valuation of firms (with John Forker), Centre for Business Performance Report 29-5-353, Institute of Chartered Accountants in England and Wales 
  • Economic income concepts and the measurement of corporate performance: A review of accounting and value based management alternatives (with John Forker), in: Value Based Management, Arnold, G., and M. Davies (eds), John Wiley and Sons Ltd, 2000 
  • Top management changes following hostile and friendly takeovers (with Jay Dahya), Certified Research Report 61, Certified Accountants Educational Trust, (London), 1999
     

Working papers

 

  • Firm size, sovereign governance, and value creation (with Mark Humphery-Jenner), UNSW working paper, 2011 (under review, 1st round)
  • Corporate investments and tests of myopia (with Kapil Gahir and Jarrad Harford), UNSW working paper, 2011
  • Does the market value innovative investments? A comparision of CAPEX with innovative investments in R&D & IT (with Kon Moltchanski and Fouad Nagm), UNSW working paper, 2010, revise and resubmit (second round) 
  • The impact of layoffs and divestitures on firm survival (with Alfred Yawson), UNSW working paper, 2009, revise and resubmit (third round)

 

Research interests

  • Mergers, acquisitions and restructuring 
  • Empirical corporate finance
  • Valuation effects of corporate investments
  • Corporate governance 
  • Economic aspects of accounting measurement, reporting and quality

 

Research grants

  •  The University of New South Wales, Faculty Research Grant, Offshore expansion: The impact on shareholder returns, corporate taxation and financing policy, $A27,500 (with Taylor, J; Woo, Li-Ann), 2006
  • The Institute of Chartered Accountants in England and Wales (ICAEW), Earnings measurement and the valuation of firms, £15,276 ($A40,329), (with Forker, J.), 2003
  • The University of New South Wales, Special Research Grant, June, $A3,000, 2002
  • The University of New South Wales, Special Research Grant, June, $A3,931, 2001
  • The Association of Chartered Certified Accountants (ACCA), Top management changes following hostile and friendly takeover bids, £4,506 ($A11,896), (with Dahya, J.), 1998

 Courses taught

  • FINS1613 Business Finance
  • FINS4777 Advanced Topics in Corporate Finance
  • FINS5514 Capital Budgeting and Financial Decisions
  • FINS5538 Takeovers, Restructuring and Corporate Governance
  • MFIN6210 Empirical Studies in Finance
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