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Completed PhD students

Renzhu (Stephanie) Zhang

Thesis: Essays in Corporate Finance
Dates: 2017 to 2020
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Gurmeet Bhabra, Eric Tan, Daisy Chou and Xing Han


Tian Yue

Thesis: SSE 50 ETF Options
Dates: 2016 to 2019
Scholarship:
Supervisors: Jin Zhang, Terry Pan, Eric Tan. Current: Jin Zhang, Sebastian Gehricke, Xinfeng Ruan


Nhu Nguyen

Thesis: Essays in Empirical Finance
Dates: 2014 to 2019
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Chaiporn Vithessonthi, Jin Zhang, Numan Ulka. Current: Jin Zhang, Xinfeng Ruan, Jing Zhang


Jelita (Jay) Noviarini

Thesis: Essays on Retirement Wellbeing in New Zealand
Dates: 2016 to 2019
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Helen Roberts, Andrew Coleman, Ros Whiting

Publications:

  • Noviarinin, Jelita, Andrew Coleman, Helen Roberts, and Rosalind H. Whiting, 2019, Housing liquidation and financial adequacy of retirees in New Zealand, Housing Studies, 34(9), 1543-1580. A

Dzung (June) Nguyen

Thesis: Essays on Financial Integration, Natural Disasters, and Commercial Banks in East Asia
Dates: 2016 to 2020
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Ivan Diaz-Rainey, Helen Roberts


Jiexiang (Jenny) Huang

Thesis: The Effect of Information Disclosure on Corporate Governance and Mutual Funds
Dates: 2016 to 2019
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Helen Roberts, Eric Tan


Nicola Beatson

Thesis: The Role of Self – Efficiency Beliefs in Accounting Education
Dates: 2016 to 2019
Scholarship:
Supervisors: Ralph Adler, Jeff Smith, David Berg

Publications:

  • Beatson, Nicola J., David A. G. Berg, and Jeffrey K. Smith, 2020, The influence of self‐efficacy beliefs and prior learning on performance, Accounting and Finance, (forthcoming). A
  • Beatson, Nicola J., Cle-Anne Gabriel, Angela Howell, Stephen Scott, Jacques van der Meer and Lincoln C. Wood, 2020, Just opt in: How choosing to engage with technology impacts business students’ academic performance, Journal of Accounting Education, 50, 100641, 1-15. B
  • Beatson, Nicola J., David A. G. Berg, Jeffrey K. Smith, and Christine Smith-Han, 2019, Progression to intermediate level courses; Is a “pass” enough? Pacific Accounting Review, 31(2), 275-287. B
  • Beatson, Nicola J., David A. G. Berg, and Jeffrey K. Smith, 2019, The Sheldon effect: Fixed mindset does not always mean fragile confidence, Accounting Education, 28(5), 532-552. A
  • Beatson, Nicola J., David A.G. Berg, and Jeffrey K. Smith, 2018, The impact of mastery feedback on undergraduate students’ self-efficacy beliefs, Studies in Educational Evaluation, 59, 58-66. N/A Graham, Alan, Ian Toon, Kate Wynn-Williams, and Nicola Beatson, 2017, Using ‘nudges’ to encourage student engagement: An exploratory study from the UK and New Zealand, International Journal of Management Education, 15, 36-46. C
  • Wynn-Williams, Kate, Nicola Beatson, Cameron Anderson, 2016, The impact of unstructured case studies on surface learners: a study of second-year accounting students. Accounting Education, 25(3), 272-286. A

Dereje Regasa

Home country: Ethiopia
Thesis: Empirical Essays on Finance and Economic Development in Ethiopia
Dates: 2016 to 2019
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Helen Roberts, David Fielding

Publications:

  • Regasa, Dereje, David Fielding, Helen Roberts, 2020, Sources of financing and firm growth: Evidence from Ethiopia, Journal of African Economies, 29(1), 26-45. A

Stephan Essendorfer

Thesis: The Relative Information Content of Fair Values and Historic Costs Reported by U.S. Banks 1986-2013
Dates: 2011 to 2019
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Micheal Falta, Murat Genc, Roger Willet

Publications:

  • Essendorfer, Stephan, Ivan Diaz-Rainey, and Michael Falta, 2015, Creative destruction in Wall Street’s technological arms race: Evidence from patent data, Technological Forecasting and Social Change, 99, 300-316. A

Sebastian Gehricke

Thesis: VIX Futures ETNs and Their Derivatives
Dates: 2015 to 2018
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Jin Zhang

Publications:

  • Gehricke, Sebastian A., and Jin E. Zhang, 2020, The Implied Volatility Smirk in the VXX Options Market, Applied Economics, 52(8), 769-788. A
  • Li, Jianhui, Sebastian A. Gehricke, and Jin E. Zhang, 2019, How Do US Options Traders "Smirk" on China? Evidence from FXI Options, Journal of Futures Markets, 39(11), 1450-1470. A
  • Gehricke, Sebastian A., and Jin E. Zhang, 2018, Modeling VXX, Journal of Futures Markets, 38(8), 958-976. A

Ming Kuang Tan

Thesis: Creating a Modified Monopoly Game for Promoting Students' Higher-Order Thinking Skills and Knowledge Retention
Dates: 2014 to 2018
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Ralph Adler, Rakesh Pandey


Ehtasham Ghauri

Thesis: Performance Evaluation, Social Influence and Academics' Performance Behaviours
Dates: 2015 to 2017
Scholarship:
Supervisors: Ralph Adler, Carolyn Stringer, followed by Fiona Edgar

Publications:

  • Mansi, Mansi, Pandey Rakesh and Ehtasham Ghauri, 2017, CSR focus in the mission and vision statements of public sector enterprises: Evidence from India, Managerial Auditing Journal, 32(4/5), 356-377. B

Matthew McCarten

Thesis: Securities Class Actions as Disciplinary Mechanisms: Debt Financing, Political Lobbying and Innovation
Dates: 2014 to 2018
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Ivan Diaz-Rainey, Helen Roberts, Eric Tan

Publications:

  • Bevin-McCrimmon, Fergus, Ivan Diaz-Rainey, Matthew McCarten, and Greg Sise, 2018, Liquidity and risk premia in electricity futures, Energy Economics, 75, 503-517. A*McCarten, Matthew and Ivan Diaz-Rainey, 2017, Securities class actions and operating performance, Managerial Finance, 43(1), 44-58. B

Xinfeng Ruan

Thesis: Risk Equilibrium Asset Prices and Variance Premia
Dates: 2014 to 2017
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Jin Zhang

Publications:

  • Ruan, Xinfeng, and Jin E. Zhang, 2020, The Economics of the Financial Market for Volatility Trading, Journal of Financial Markets, (forthcoming). A*
  • Cao, Jiling, Xinfeng Ruan, and Wenjun Zhang, 2020, Inferring Information from the S&P 500, CBOE VIX and CBOE SKEW Indices, Journal of Futures Markets, (forthcoming). A
  • Ruan, Xinfeng, and Jin E. Zhang, 2020, Ambiguity on Uncertainty and the Equity Premium, Finance Research Letters, (forthcoming). A
  • Cao, Jiling, Xinfeng Ruan, Shu Su, and Wenjun Zhang, 2020, Pricing VIX derivatives with infinite-activity jumps, Journal of Futures Markets, 40, 329-354. A
  • Ruan, Xinfeng, 2020, Volatility-of-volatility and the cross-section of option returns, Journal of Financial Markets, 48, 100492, 1-26. A*
  • Ruan, Xinfeng, and Jin E. Zhang, 2019, Moment spreads in the energy market, Energy Economics, 81, 598-609. A*
  • Zhu, Wenli, and Xinfeng Ruan, 2019, Pricing swaps on discrete realized higher moments under the Lévy process, Computational Economics, 53(2), 507-532. B
  • Ruan, Xinfeng, and Jin E. Zhang, 2018, Equilibrium variance risk premium in a cost-free production economy, Journal of Economic Dynamics and Control, 96, 42-60. A*
  • Ruan, Xinfeng, and Jin E. Zhang, 2018, Risk-neutral moments in the crude oil market, Energy Economics, 72, 583-600. A*
  • Ruan, Xinfeng, and Jin E. Zhang, 2016, Investor attention and market microstructure, Economics Letters, 149, 125-130. A
  • Ruan, Xinfeng, Wenli Zhu, Jiexiang Huang, and Jin E. Zhang, 2016, Equilibrium asset pricing under the Levy process with stochastic volatility and moment risk premiums, Economic Modelling, 54, 326-338. A

Haileslasie Gebremariam

Thesis: Microfinance Institutions’ Transparency Governance and Risk in Sub-Saharan Africa
Dates: 2014 to 2017
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Helen Roberts, Ros Whiting

Publications:

  • Tadele, Haileslasie, Helen Roberts, and Rosalind H. Whiting, 2018, Microfinance institutions’ transparency in Sub-Saharan Africa, Applied Economics, 50(14), 1601-1616. A
  • Tadele, Haileslasie, Helen Roberts, and Rosalind H. Whiting, 2018, Microfinance institutions’ website accessibility, Pacific-Basin Finance Journal, 50, 279-293. A
  • Tadele, Haileslasie, Helen Roberts, and Rosalind H. Whiting, 2018, Transparency and microfinance institutions’ risk in Sub-Saharan Africa, International Journal of Corporate Governance, 9(2), 201-226. B

Frederico Botafogo

Thesis: Process-Based Theory of Value: A Naïve Approach to the Axiomatic Foundations of Statistical Activity Cost Analysis (SACA)
Dates: 2011 to 2017
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Roger Willett, Michael Falta


Fang Zhen

Thesis: Essays on Skewness
Dates: 2013 to 2017
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Jin Zhang. Current: Jin Zhang, Timothy Crack, Eric Tan

Publications:

  • Zhen, Fang, and Jin E. Zhang, 2020, Dissecting Skewness under Affine Jump-Diffusion, Studies in Nonlinear Dynamics and Econometrics, (forthcoming). A
  • Zhang, Jin E., Fang Zhen, Xiaoxia Sun, and Huimin Zhao, 2017, The skewness implied in the Heston model and its application, Journal of Futures Markets, 37(3), 211-237. A

Mahbubal Islam

Thesis: Design Appropriateness of Strategy Map Frameworks, Relations underlying Early-Stage Business Models, and Narrative Tests
Dates: 2013 to 2016
Scholarship:
Supervisors: Ralph Adler, Carolyn Stringer,Rakesh Pandey, David Lont

Publications:

  • Islam, Syrus, Ralph Adler, and Deryl Northcott, 2018, Managerial attitudes towards the incompleteness of performance measurement systems, Qualitative Research in Accounting and Management, 15(1), 84-103. B

Daniel J Tulloch

Thesis: The Impact of Risk Factors and Regulatory Change in the Returns of European Energy Utilities Dates: 2013 to 2016
Scholarship: Otago Business School Dean’s PhD Scholarship
Supervisors: Ivan Diaz-Rainey, George Benwell, I.M. Premachandra

Publications:

  • Diaz-Rainey, Ivan, Dan J. Tulloch, 2018, Carbon pricing and system linking: Lessons from the New Zealand Emissions Trading Scheme, Energy Economics, 73, 66-79. A*
  • Tulloch, Dan J., Ivan Diaz-Rainey, and I. M. Premachandra, 2018, The impact of regulatory change on EU energy utility returns: The three liberalization packages, Applied Economics, 50(9), 957-972. A
  • Tulloch, Dan J., Ivan Diaz-Rainey, and I. M. Premachandra, 2017, The impact of liberalization and environmental policy on the financial returns of European energy utilities, Energy Journal, 38(2), 77-106. A

Duminda Kuruppuarachchi

Thesis: Efficiency, Risk Premium and Information Diffusion in Futures Markets: International Evidence
Dates: 2011 to 2015
Scholarship: University of Otago Doctoral Scholarship
Supervisors: I.M. Premachandra, Hai Lin, Timothy Crack

Publications:

  • Kuruppuarachchi, Duminda, Hai Lin, and I. M. Premachandra, 2019, Testing commodity futures market efficiency under time-varying risk premiums and heteroscedastic prices, Economic Modelling, 77, 92-112. A
  • Kuruppuarachchi, Duminda, I. M. Premachandra, and Helen Roberts, 2019, A novel market efficiency index for energy futures and their term structure risk premiums, Energy Economics, 77, 23-33. A*
  • Ülkü, Numan, Duminda Kuruppuarachchi, and Oleg Kuzmicheva, 2017, Stock market's response to real output shocks in Eastern European frontier markets: A VARwAL model, Emerging Markets Review, 33, 140-154. A
  • Kuruppuarachchi, Duminda, and I. M. Premachandra, 2016, Information spillover dynamics of the energy futures market sector: A novel common factor approach, Energy Economics, 57, 277-294. A*
  • Ülkü, Numan, and Duminda Kuruppuarachchi, 2015, Stock market’s response to real output shocks: Connection restored but delayed, International Review of Finance, 15(4), 613-622. A

Reza Tajaddini

Thesis: Momentum Trading Strategies in Financial Markets
Dates: 2010 to 2013
Scholarship: University of Otago Doctoral Scholarship
Supervisors: Timothy Crack, Helen Roberts

Publications:

  • Tajaddini, Raza, Timothy Falcon Crack, and Helen Roberts, 2015, Price and earnings momentum, transaction costs, and an innovative practitioner technique, International Review of Finance, 15(4), 555-597. A
  • Tajaddini, Raza, and Timothy Falcon Crack, 2012, Do momentum-based trading strategies work in emerging currency markets? Journal of International Financial Markets, Institutions and Money, 22(3), 521-537. A