My research is mainly on financial markets and corporate finance, although since I was trained as a general microeconomic theorist I am also very interested in other areas of economics. A lot of my research has been on models that integrate the financial markets with corporate finance - for example, how a firm's share price is determined by the beliefs of investors in the stock market while simultaneously influencing the capital investment policy of the firm.  I am currently working on modelling incentives for stock market traders to focus on certain types of information (rare versus common events).  I have recently written two papers with Jungsuk Han on rational explanations for mispriced assets.  One is on bubbles, the other is on fire sales.

I also work as a consultant on corporate finance and valuation.  As well as advising companies, I have provided expert advice in many arbitration cases, including one that is believed to be the largest ever damages litigation.  Please email me if you would like more information on my experience.

My teaching covers the core of corporate finance and valuation, which I've taught on the MBA, Executive and Master's in Finance programmes at London Business School for over twenty years. I stress that good management means good communication between managers and shareholders and I explore reasons why this may not be easy to achieve.