1

Curriculum Vitae for Jonathan A. Batten

Short Bio

Jonathan A. Batten is Professor of Finance in the Department of Banking and Finance at Monash

University, Australia. Prior to this position he worked as a Professor in Finance at the Hong Kong

University of Science & Technology and Seoul National University, Korea. He is the managing editor

of Elsevier’s Emerging Markets Review, Journal of International Financial Markets Institutions and

Money, co-editor of Finance Research Letters, and associate editor of the Journal of Banking &

Finance, Journal of the Asia Pacific Economy, Journal of Multinational Financial Management,

Research in International Business and Finance and International Review of Financial Analysis.

Jonathan’s research crosses a number of disciplines: in the business area he has published in a number

of journals used by the Financial Times for ranking business schools (e.g. Journal of Business Ethics,

Journal of Financial and Quantitative Analysis and the Journal of International Business Studies). In

addition he has also published work in applied mathematics (e.g. Chaos), in environmental studies

(Resources Policy), and importantly in economic policy (e.g. Applied Economics and the World Bank

Research Observer.

Apart from the journal publications mentioned above he has others, including publications in the

Australian Journal of Corporate Law, Economics Letters, International Review of Financial Analysis,

Journal of International Financial Markets Institutions and Money, Journal of Economic Surveys,

Journal of the Asia-Pacific Economy, Pacific Basin Finance Journal, Physica A, Small Business

Economics and others currently under review. In addition he has received a number of external research

grants from the Asian Development Bank, the World Bank, and most recently from the international

payments organisation SWIFT and the international regulator, the Bank for International Settlements.

He is the current President of the Eurasian Business and Economics Society (EBES) and has served

on a number of national external research committees in economics and finance (e.g. Canada, Czech

Republic, Hong Kong, Slovenia and Saudi Arabia).

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Curriculum Vitae for Jonathan A. Batten

Long Bio

Jonathan A. Batten is Professor of Finance at Monash University, Australia (from July 2013). Prior to

this position he worked at the Hong Kong University of Science & Technology (2006-2013) and Seoul

National University, Korea (2002-2005). While he is an Australian citizen he also has Hong Kong

permanent residency. He is the managing editor of Emerging Markets Review (from January 2007),

Journal of International Financial Markets Institutions and Money (from January 2015), co-editor of

Finance Research Letters (from January 2015) and an associate editor of the Journal of Banking &

Finance, Journal of the Asia Pacific Economy, Journal of Multinational Financial Management,

Research in International Business and Finance, and International Review of Financial Analysis.

Apart from these positions, Jonathan has extensive international teaching and research

experience: University of Western Sydney, Australia (1990-1998) as Senior Lecturer in international

finance and risk management; Indiana University, USA, where he was a visiting Research Fellow as

part of his PhD studies (1993); Nanyang Technological University in Singapore (1999) as visiting

Senior Research Fellow; Temple University Tokyo, Japan (2004-6) as Visiting Professor; and Aarhus

School of Business, Denmark as Visiting Professor of Finance (December 2005). From November

2002- 2006 he was also appointed an Honorary Professor of Arts, Deakin University Melbourne,

Australia and from July 2014 he was appointed President of the Eurasian Business and Economic

Association (EBES).

After completing a degree in data processing in 1981 Jonathan was first employed by the State

Bank of NSW, Australia as an Economic Research Assistant attached to the funds management area.

Later, he was involved in foreign exchange, interest rate trading and financial risk management

positions with the Australian Industry Development Corporation, Bank of Tokyo and Credit Lyonnais.

In recognition of Jonathan’s extensive industry experience, in 1997 he was appointed a Fellow of the

Australasian Institute of Banking and Finance. Jonathan has continued to consult on asset-liability and

credit risk management, and financial instrument pricing for IBM (1995-1996), Reuters Asia (1997-

2002) and American Express (1998). He has also received research grants (2000-2012) from the Asian

Development Bank and The World Bank (as part of their programmes for developing fixed income

markets in developing economies) and the Bank for International Settlements (2013).

Jonathan completed an MBA in international finance in 1986 at the New South Wales Institute

of Technology (now the University of Technology, Sydney) with a research report that focused on tax

arbitrage in Euro-markets. These themes were further developed when he completed his Doctor of

Philosophy at the University of Sydney in 1996 with a thesis that investigated cross-sectional variation

in the risk management practices of financial and non- financial firms. His current research interests

now include:

Financial market development

Financial risk management

Asset pricing: spread modelling and market integration

Financial statistics and engineering: the investigation of the non-linear dynamics of financial

prices.

A common theme through much of this later work concerns the investigation of non-linear dynamics

and the more general analysis of financial time series using technology that accommodates mean

non-stationarity and volatility clustering. More recently this work has been extended to an

investigation of arbitrageable equilibria (such as covered interest parity arbitrage in foreign exchange

markets). Expanding the investigation from single prices to more complex economic systems

remains the focus of future research work.

Research efforts are reflected in a large collection of works that have been published in

international journals as well as chapters in books, research monographs, published conference

proceedings and published working papers. His work on bond pricing and financial market

development has been published in the "Journal of Financial & Quantitative Analysis", "World Bank

Research Observer" and "Applied Economics" amongst others, whereas work in financial statistics

and risk management has been published in “Chaos”, "Chaos, Solitons & Fractals", the "Journal of

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International Business Studies" and "Physica A". His interest in stakeholder theory and ethical

applications in business is also evidenced by a number of publications in The Journal of Business

Ethics and the Journal of Corporate Citizenship.

Jonathan first published "International Finance in Australia: A Case Study Approach” with

Butterworths in 1993, then co-authored and edited with Thomas Fetherston, “Asia-Pacific Fixed

Income Markets: An Analysis of the Region's Money, Bond and Interest Derivatives Markets",

published by John Wiley & Sons in their Frontiers in Finance Series in 2002, and co-authored and

edited “European Fixed Income Markets: Money, Bond, and Interest Rate Derivatives” with Thomas

Fetherston and Peter Szilagyi. This volume was also published by John Wiley & Sons in the “Wiley

Finance Series” in 2004. The final volume in this series on bond market development, “Japanese

Fixed Income Markets: Money, Bond, and Interest Rate Derivatives” was coedited and co-authored

with Thomas Fetherston and Peter Szilagyi, and was published by Elsevier in October 2006. The

edited volume “Financial Risk and Financial Risk Management” was the Elsevier-North Holland

technical book of the month in November 2002.

Jonathan has also presented papers at a number of conferences of international standing

including those of the Academy of International Business, Decision Sciences Institute, European

Finance Association, European Financial Management Association, Econophysics Colloquium,

Financial Management Association (US, Europe and Asia-Pacific Meetings), INFINITI

International Finance, International Association for Statistical Computing, Mid-Western Finance

Association and the SigmaPhi Association. Recently he has been a keynote speaker at SIBOS 2013

(Dubai), 2014 Paris Financial Management Conference and EBES Barcelona (2014).

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Jonathan Andrew Batten

Detailed Curriculum Vitae

1. Personal Details

2. Academic and Professional Experience

3. Teaching

4. Research Publications

5. Current Working Papers and Work in Progress

6. Books and Edited Volumes

7. Contributions to Books and Research Monographs

8. Refereed Journal Articles

9. Practitioner Journals and Other Publications

10. Published Conference Proceedings and Permanent Working Papers

11. Non-Academic Publications

12. Seminars and Presentations (and other Conference Presentations)

13. Research Grants, Projects and Consultancies

A. Personal Details

Born: 25th April 1958, Australian Citizen

Children: 1 son (Cameron Ethan Batten), born November 4, 1998.

Marital Status: Divorced. My son Cameron lives with me.

Australian Citizen and Hong Kong Permanent Resident

A1. Present Position Distinguished Professor of Finance

Monash University, Caulfield Campus

Department of Banking and Finance

PO Box 197, Caulfield East, Victoria 3145, Australia

Tel: +61 3 99034557

Email: jonathan.batten@monash.edu

Websites

(a) Social Science Research Network:

http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=160949

(b) Links to Published and Working Papers:

http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=160949

http://authors.repec.org/pro/pba244/

http://ideas.repec.org/f/pba244.html

http://econpapers.repec.org/RAS/pba244.htm

A2. Qualifications and Professional Training

Bachelor of Business [Data Processing] NRCAE 1981

Master of Business Administration [International Business] NSWIT 1986

Doctor of Philosophy [Financial Economics] University of Sydney (1997)

Dissertation Topic: "Financial Risk Management in Australian Firms: Foreign

Exchange and Asset-Liability Management"

Fellow of the Australasian Institute of Banking and Finance [FAIBF] appointed 1997.

Citibank Bourse Course (Foreign Exchange Trading), Melbourne Australia 1984.

Consulting Engagement Workshop, IBM Advanced Business Institute, New York USA

1995.

Negotiation Skills, Conflict Management Inc, Harvard University, Boston USA 1995.

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A3. Prizes/Awards Australian Trade Commission Prize in International Business 1985.

A4. Biographical Listings "Who's Who in the World" Marquis, various editions from 1996+.

"Who's Who in Australasia and the Pacific Nations", various editions from 1996+.

"Who's Who in Asia and the Pacific Nations", International Biographical Centre, UK

various editions from 1996+.

A5. Professional Affiliations and Memberships National Member of the Australian Forex Association 1984-1990.

International Member of the Association Cambiste Internationale 1985-1990.

Member of the Academy of International Business, Asia Pacific Finance Association,

Financial Management Association, Western Finance Association, American Economic

Association, and the American Finance Association.

A6. External Associations and Editorial Committees

Current Editorial

Managing Editor of Emerging Markets Review (Elsevier) from January 2007 to January 2017.

Managing Editor of the Journal of International Financial Markets, Institutions and Money

(Elsevier) from January 2015 to January 2018.

Co-editor of Finance Research Letters (Elsevier) from January 2015 to January 2018.

Member of the editorial board of:

Journal of the Asia-Pacific Economy (Routledge)

Journal of Banking & Finance (Elsevier)

Journal of Multinational Financial Management (Elsevier)

Research in International Business and Finance (Elsevier)

International Review of Financial Analysis (Elsevier)

Borsa Istanbul Review (Elsevier)

Previous Editorial Duties:

Co-editor of International Review of Financial Analysis (Elsevier) from July 2007 to

December 2011).

Special Issue Editor for “Journal of the Asia Pacific Economy”, on Asia Pacific Financial

Markets (2011).

Co-editor/Editor of Research in International Business and Finance (Elsevier) from January

2004 to December 2006.

Special Issue Editor for "International Review of Financial Analysis" Volume 11 issues 2

and 3 on “Credit Derivatives” 2002.

Coeditor for the Elsevier-North Holland research volume 16, 2002. “Research in

International Business and Finance”, special issue on “Financial Risk Management”, with

Thomas Fetherston.

Coeditor for the Elsevier-North Holland volume 17, 2003 “Research in International

Business and Finance”, special issue on "Social Responsibility: Corporate Governance

Issues", with Thomas Fetherston.

Member of Scientific and Other Committees

Member of the Board of Directors of the Australian Centre for Financial Studies (from

September 2013)

Member of the Advisory Board of the Eurasia Business and Economics Society (from 2013)

President of the Eurasian Business and Economic Society (from July 2014)

http://www.ebesweb.org/Advisory-Board.aspx

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Member of the Scientific Committee of the 4th International Conference of the Financial

Engineering and Banking Society (FEBS) Conference, University of Surrey, Guildford,

U.K. June 21, 2014 – June 23, 2014

Ad Hoc Journal Reviewer:

Applied Economics

ASEAN Economic Bulletin

Asia Pacific Management Review

Australian Economic Papers

Chaos

Chaos, Solitons & Fractals

Economics Bulletin

Emerging Markets Finance and Trade

Energy Economics

European Journal of Finance

Global Business and Finance Review

Global Finance Journal

International Review of Financial Analysis

International Journal of Finance and Economics

Japan and the World Economy

Journal of Asian Economics

Journal of Banking & Finance

Journal of Business Ethics

Journal of Corporate Citizenship

Journal of Empirical Finance

Journal of International Business Studies

Journal of International Financial Markets, Institutions & Money

Journal of International Money and Finance

Journal of International Trade and Economic Development

Journal of the Asia Pacific Economy

Journal of Multinational Financial Management

Multinational Business Review

Pacific Basin Finance Journal

Physica A: Statistical Mechanics and its Applications

Quarterly Review of Economics and Finance

Resources Policy

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B. Academic and Professional Experience

Professional Experience:

1982 Economic Research Officer (country risk analyst) and Assistant Foreign Exchange

Dealer the State Bank of New South Wales, Sydney Australia.

1984 Senior Funds Management Executive, Australian Industry Development

Corporation Sydney Australia (managing interest rate risk through interest rate and

currency swaps, forwards and interest parity arbitrage).

1985 Senior Dealer Foreign Exchange, The Bank of Tokyo, Sydney and Frankfurt

(trading spot and forward US dollar / Japanese yen and US dollar/ Australian dollar).

1986-90 Senior Dealer/Manager Treasury, Credit Lyonnais, Paris, Brussels and Sydney.

(Forwards and interest rate trader, then manager of the Australian dollar interest rate

position for the bank through derivatives and cash-instruments. This position

involved managing a US$32 billion portfolio of cash and derivatives instruments).

1995-6 Senior Consultant Asia-Pacific Banking and Finance Group, IBM Consulting

Group (Singapore) in asset liability management. (This position involved consulting

on asset-liability risk management solutions for Asia-Pacific based financial

institutions, and integrating asset-liability software into firm-wide solutions for the

financial sector. Specific projects included working with the IBM-Bankers Trust

New York team on the LS2 credit risk management project).

1996-2002 Ad hoc consultant to American Express Bank (financial risk management), IBM

Consulting Group, and Reuters Asia in financial instrument pricing and risk

management.

2000-2010 External consultant to the Asian Development Bank on (a) bond market development

in Asia-Pacific region; (b) Money market and information technology needed in

Vietnam; and (c) country studies of foreign bond market development.

2011-present External consultant to The World Bank on financial market development in India.

2013-May, November

Visiting Research Fellow at the Bank for International Settlements, Basel,

Switzerland.

Academic Experience:

1987-90 Part-Time Lecturer in International Finance, University of Technology Sydney.

1989 Fractional Appointment in International Finance, Macarthur Institute, Sydney,

Australia

1990-5 Senior Lecturer in Finance, University of Western Sydney, Macarthur, Australia

Teaching duties included international finance and honours finance.

1992-3 Acting-Head Department of Economics and Finance.

Elected to the University Promotions Committee

1993-5 Project Director, Diploma of Banking and Finance by Distance Learning.

1993 Visiting Professor Department of Finance, Indiana University, USA (4-

months)

1997- 1998 Senior Lecturer in Finance, University of Western Sydney, Macarthur, Australia

1999 Senior Research Fellow, Nanyang Technological University, Singapore

2000 Professor of Finance, Deakin University, Melbourne Australia

Appointed to the Deakin University Joint Committee on Research

Appointed to the Deakin University, Research Grants Committee

Appointed to the Faculty of Business and Law Research and Graduate Studies

Committee

Appointed to the Faculty of Business and Law Promotions Committee

Appointed to the Faculty of Business and Law Ethics Committee

Appointed to the School of Accounting and Finance Committee.

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Member of the Financial Services Research Centre, Supported by the

Committee for Melbourne and the Government of Victoria.

Convenor of the 2000 Finance Educators Conference, Deakin University

Burwood.

2001 Convenor of the 2001 Governance and Corporate Social Responsibility Conference

November, Deakin University Melbourne, Australia.

Appointed Chairman (for course development) of “Advanced Finance” in the

Master of Applied Finance and Investments program, Securities Institute of

Australia.

2002 Visiting Professor of Finance, Seoul National University, Korea 1 October 2002 to

August 2005.

2002 Appointed Honorary Professor Faculty of Arts, Deakin University Australia (1

November 2002 to 2006)

2003 Chairman, External Advisory Committee for the Master of Applied Finance,

University of Western Sydney (Review undertaken April 2003). Chairman, External

Advisory Committee for the Bachelor of Economics (Financial Management)

University of Western Sydney (Review undertaken May 2003).

2004 Visiting Professor Temple University, Tokyo (March-April, November- December)

2004 Appointed Professor of Management (Finance), MGSM, Sydney (August 2004 to

August 2009)

2005 Visiting Professor Aarhus Business School, Aarhus University Denmark

(September to December 2005).

2006 Visiting Professor, Institute for International Integration Studies Trinity College

Dublin (March to September 2006); External Advisory Committee Member for the

Master of Applied Finance, Bachelor of Business Degrees, University of Western

Sydney (2006); Visiting Professor Temple University, Tokyo (November-

December 2006)

2007 Adjunct Professor Hong Kong University of Science & Technology (August 2006-

2013).

2008 Visiting Professor of Management, Macquarie University, Sydney Australia

(August 2009-August 2011).

2013 Awarded a Research Fellowship with the Bank for International Settlements, Basel

Switzerland.

2013 July Appointed a Distinguished Professor of Finance, Monash University, Caulfield,

Australia and Monash University representative on the Australian Centre for

Financial Studies.

2014 Member of the External Review Panel for the College of Business, Massey

University, New Zealand.

Post-Graduate Student Supervision and Examination

Current Supervision

Peter Vuong, PhD, Monash University from 2014: An Investigation of Social Responsible

Investments.

PhD Committee and External Examiner

Meixia Hu, PhD, Massey University New Zealand 2012: An Examination of Stock Split and

Special Dividend Announcements in Relation to Market-Timing Opportunities, Business

Cycles, and Monthly Patterns

Sohel Azad, PhD, Monash University Melbourne 2011: Pricing Risk in Swap Markets.

Eugene Lai, PhD, Massey University New Zealand 2009: An Investigation of Optimal Stock

Option Allocation

Ben Marshall, PhD, Massey University New Zealand 2005: Candlestick technical trading

strategies: Can they create value for investors.

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Rubi Ahmad, PhD Monash University, Australia 2004: Bank Capital, Risk Performance:

Malaysian Evidence

Than Asvananda, PhD University of Western Sydney, Australia 2004: Financial Reform in

Thailand

Wilson Huynh, Honours University of Western Sydney, Australia 2004: Population Age

Structure and Stock Price Movements in Australia

Yen Jenn Yaw, Master of Business by Research, Nanyang Technological University,

Singapore 2003: Growth investment strategies applied to firms in Singapore.

Ben Marshall, Master of Business Studies, Massey University New Zealand 2000:

“Liquidity and Stock Returns in Order Driven Markets”

The following is a list of students who have successfully completed their research programmes

where I was the principal, associate or external supervisor

Completed: Monash University, Australia

Lidya Andreani Liu, The Risk Shifting Behaviour of Socially Responsible Investment

(Honours H1, First Class)

Completed: Massey University, New Zealand

• Karren Khaw, An investigation into the pricing of convertible bonds. PhD (2013)

Completed: Macquarie University, Australia

Max Neukirchen, Macroeconomic Risk Management and Practice. PhD (2006)

Alan Cheung DBA (May 2008). Dynamics of Interest Rate Swap Spreads.

Completed: Seoul National University, College of Business Administration, Korea

Ma Sai The Underpricing of IPOs in China: The Effect of the Listing System (MSc, 2005)

Alexander Dyo Intra-industry momentum and overconfidence: The case of the Korean

food industry (MSc, 2005)

Completed: Deakin University, Melbourne Australia

Kannan THURAISAMY (PhD, External Supervisor 2010) Financial Deregulation and the

Development of Fixed Income Markets in South America.

Chee Jin YAP The Decomposition and Pricing of Emerging Market Bonds (PhD, External

supervisor 2006)

Jagjit Kaur Underpricing of IPOs in Australia. (PhD, 2003)

Brock Johnson Credit Spread Options on Yen Eurobonds (Honours First Class 2003)

1. Vanessa Secconino “Do Sovereign Ratings Matter” (Honours First Class 2002).

2. Ooi Guan Chye How Firms manipulate Earnings: The Case of Enron Corporation

(Honours Second Class 2002).

3. Cameron Makepeace The Post Issue Operating Performance of US IPO’s. (Honours

Second Class 2002).

Mukund Narayanamurti Developing Financial Market Architecture in Emerging Nations:

The Asian Experience (Honours, First Class 2002)

Sascha Pausewang Do Stock-Brokers Recommendations Influence Share Price: The

Australian Evidence (Honours, First Class 2001)

Le Teeng Chua What Makes a Financial Centre: The Singapore Experience (Honours, First

Class 2001)

Thi Hong Lien Dong Asset Liability Management in Australian Banks (Honours, First Class

2001)

Quang Ngoc Nguyen Explaining returns in the US High-Technology Sector (Honours, First

Class 2001)

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Justin Iu Corporate Governance Convergence: The Implementation of Global Corporate

Governance Principles (Honours, second class, grade 1, 2000)

Scott Kingston On the Determinates of Corporate Hedging (Honours second class grade 1,

2000)

Melissa Papazzo Determinates of Corporate Dividend Policy: An Australian Perspective

(Honours first class 2000).

Lee Min Tjong The Effect of Announcements of International Investments on Shareholder

Wealth (Honours second class grade 1, 2000)

Elizabeth Wong The Ability of Regulatory Capital Models to Meet Prudential Objectives

(Honours second class grade 1, 2000)

Completed: Nanyang Technological University, Singapore

• Adrian Soh, Lydia Wee, and Tracy Yap Mean Non-Stationarity and a CUSUM Technical

Trading Strategy Final Year Project (Honours Equivalent: High Distinction)

Completed: University of Western Sydney, Sydney Australia

Martin Hollander Volatility in futures markets (M.Com. first class 1998)

Jason Vella Technical trading techniques (Honours, second class grade 1, 1998)

Mario Bardella The Market for Interest Rate Contingent Claims: An Empirical Investigation

of US$ Callable Bonds (Honours, first Class, 1998)

Craig Ellis An Investigation of Long-term Dependence in Time-Series Data (PhD, 1998)

Glen Blackley: The Australian interest rate swap market (Honours, first class, 1997)

Subhashni Singh: Price volume relationships in futures markets (Honours, first class, 1997)

Andrew Livermore: Corporate foreign exchange hedging (Honours, second class, grade 1,

1994).

Craig Ellis: Trading System Performance and the Weak-Form Efficiency of the Australian

Share Marke (Honours, first class, 1992)

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C. Teaching

Recent Teaching Awards:

HKUST: Letters of Recognition from the Dean of Business and Management, in Recognition of

Excellent Teaching Performance (scores above 85 points for quality of instructor)

FINA 331 Management of Financial Institutions 2010/2011

FINA 361 Fixed Income Securities 2008/2009

FINA 544 and FINA 5540 Risk Management for Financial Institutions 2010/2011,

2011/2012

Monash: Letter of Recognition for Outstanding Teaching in BFF 5300 Case Studies in Finance

2014

Subjects Taught at Undergraduate and Post Graduate Level 1990-2009 Year Subjects Taught Number of

Students

Coordination Level

UWS 1990-1995 International Finance 30-60 MBA

80-130 UGr

Yes MBA and BBus

Finance Theory

(=Finance Issues)

80-130 Yes 3rd Year

Advanced Finance I and II 2-6 Yes Honours

Commercial Banking and Lending

Practice (CBL)

40--80 Yes 3rd Year

UWS 1996-1999 International Finance MBA 35-50 Yes MBA

Financial Institutions and Risk

Management (=CBL)

50-70 No 3rd Year

International Finance

(Undergrad)

80-120 Yes 1996-7 3rd Year

Advanced Finance 1 and 11 4-7 Yes 1996-7 Honours

Options Futures and Derivative Products Yes for 1998 3rd Year

NTU 1999-2000 Commercial Bank Management 250 yes 3rd year

Treasury and Risk Management 30 Yes MBA, MFE

Deakin 2000-02 Treasury Management 140 No 3rd year

Debt and Contractual Securities

Equities and Portfolio Management

140

150

Yes

Yes

2 and 3rd year

3rd year

Advanced Finance 10 yes Honours

Research Methods 10 yes Honours

Financial Intermediation 10 yes Honours

SGSM 2002 International Finance 29 yes EMBA

SNU

2002-2005

Risk Management

Derivative Securities

Financial Engineering

Advanced Derivatives

42

35

25

25

Yes

Yes

Yes

Yes

MSc, PhD

3rd year

MSc, PhD

MSc, PhD

Temple University

Japan 2004, 2005

Financial Markets and the Firm

Enterprise Financial Management

25

Yes

EMBA

Aarhus Business

School 2005

Risk Management 35 Yes MSc, MBA

MGSM HK and

Sydney 2004-2006

International Financial Management

Advanced Corporate Finance

Financial Management

54

35

35-40

Yes

Yes

Yes

EMBA

EMBA

EMBA

HKUST 2006-8 Equity Investment Management

Fixed Income Securities

90

90

Yes

Yes

MSc/MBA

BSc

HKUST 2008+ Derivatives

Risk Management for Financial

Institutions

Management of Financial Institutions

50/110

100

100

Yes

Yes

Yes

MBA,

MBA/MSc

BSc

Monash 2013+ Issues in Financial Institutions

Case Studies in Finance

Research Methods

Options, Futures and Derivatives

6

200

25

200

Yes

No

No

No

PhD

MSc, MBA

Honours

BCom

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D. Research Publications

Published Papers and Books

D1. Books and Edited Volumes

(i) Jonathan Batten (1993) Editor, "International Finance in Australia: a Case Study

Approach", Butterworths, Australia. Pages 468.

(ii) Jonathan Batten and Thomas Fetherston (2002) Editors, “Financial Risk and Financial Risk

Management”. Research in International Business and Finance, Volume 16: Elsevier

Science JAI, Amsterdam; London and New York. ISBN: 0-7623-858-3. Pages x-554.

(iii) Jonathan Batten and Thomas Fetherston (2002) Editors, "Asia-Pacific Fixed Income

Markets: An Analysis of the Region’s Money, Bond and Interest Derivatives Markets” John

Wiley & Sons (Asia) Pte Ltd, Singapore (part of the Wiley Finance Series), ISBN: 0-471-

84577-9. Pages viii-394.

(iv) Jonathan Batten and Thomas Fetherston (2003) Editors, Special issue on “Social

Responsibility: Corporate Governance Issues”. Research in International Business and

Finance, Volume. 17. Elsevier Science JAI, Amsterdam; London and New York. ISBN: 0-

7623-1025-1. Pages xi-462.

(v) Jonathan Batten, Thomas Fetherston and Peter Szilagyi (2004), Editors “European Fixed

Income Markets: Money, Bond and Interest Rate Derivatives”, John Wiley & Sons Ltd,

England (part of the Wiley Finance Series). ISBN 0-470-85053-1. Pages xx-484.

(vi) Jonathan Batten and Thomas Fetherston (2005), Editors, “Asian Pacific Financial Markets

in Comparative Perspective”, Contemporary Studies in Economics and Financial Analysis,

Volume 87, Elsevier Science, Amsterdam Netherlands. ISBN 0-7623-1258-0. Pages vii-

514.

(vii) Jonathan Batten and Colm Kearney (2006), Editors, “Emerging European Financial

Markets: Independence and Integration Post-Enlargement”, International Finance Review

special issue Volume 5, Elsevier Science, Amsterdam Netherlands. ISBN: 0-7623-1264-5.

Pages vii-515.

(viii) Jonathan Batten, Thomas Fetherston and Peter Szilagyi (2006), Editors “Japanese Fixed

Income Markets: Money, Bond and Interest Rate Derivatives”. Elsevier Science,

Amsterdam Netherlands. ISBN: 0-444-52020-1. Pages iv-458.

(ix) Jonathan Batten and Peter Szilagyi (2011), Editors “The Impact of the Global Financial

Crisis on Emerging Markets”. Contemporary Studies in Economic and Financial Analysis,

Volume 93 Emerald Publishing Group Ltd, London, UK. ISBN: 978-0-85724-753-7. Pages

vii- 732.

(x) Jonathan Batten and Niklas Wagner (2012), Editors "Derivatives Securities Pricing and

Modelling". Contemporary Studies in Economic and Financial Analysis, Volume 94

Emerald Publishing Group Ltd, Bingley, UK. ISBN: 978-1-78052-616-4. Pages xi -433.

(xi) Jonathan Batten, Peter Mackay and Niklas Wagner (2013) Editors, “Advances in Risk

Management: Corporates, Intermediaries and Portfolios”, Palgrave Macmillan. Published

November 2013. ISBN: 978–1–137–02508–1. DOI: 10.1057/9781137025098 xix-440.

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(xii) Jonathan A. Batten and Niklas F. Wagner (2014), Editors “Risk Management Post Financial

Crisis: A Period of Monetary Easing” Contemporary Studies in Economic and Financial

Analysis, Volume 96, Emerald Group Publishing Limited. ISBN: 978-1-78441-027-8.

D2. Contributions to Books and Research Monographs

(1) Jonathan Batten and Ram Bhar (1995), "Price Volume Relationships in Three Yen Futures

Markets", Advances in Pacific-Basin Financial Markets, Editors Ted Bos and Thomas

Fetherston, Volume 1: 21-36. This paper was also presented at the 1993 Meetings of the

PACAP Finance Conference and the Asia-Pacific Finance Association.

(2) Jonathan Batten, Robert Mellor and Victor Wan (1995) "Interest Rate Risk Management

Practices and Products used by Australian Firms", “Studies in the Financial Markets of the

Pacific Basin”, Research in International Business and Finance, Editors Ted Bos and

Thomas Fetherston, Volume 11(B): 183-199, ISBN: 1-55938-860-9.; Greenwich, Conn. and

London; JAI Press.

(3) Jonathan Batten and Andrew Livermore (1995) "Australian Firms' Foreign Exchange Risk

Management Practices: A Case Study Approach" with A. Livermore, Research in

International Business and Finance, Editors John Doukas and Larry Lang, Volume 12: 133-

149. ISBN: 1-55938-919-2.; Greenwich, Conn. and London; JAI Press. This paper was

presented at the 1993 Australasian Banking and Finance Conference, the University of New

South Wales, Sydney Australia.

(4) Jonathan Batten and Craig Ellis (1996) "Fractal Structures in Currency Markets: Spot

Australian/U.S. Dollar Evidence", Advances in Pacific-Basin Financial Markets, Editors

Ted Bos and Thomas Fetherston, Volume 2: 173-181, 1996. This paper was presented at the

Asia-Pacific Finance Association 1st Annual Conference, Sydney September 28-30, 1994,

and the 1994 Meeting of the Financial Management Association, New Orleans.

(5) Jonathan Batten and Colm Kearney (1998) "A Brave new World? - Financial Deregulation

in Australia", in M. Carmen and I. Rogers (eds),"Out of the Rut: Making Labor a Genuine

Alternative", Allen and Unwin, Sydney, pages 209-236.

(6) Jonathan Batten (1998) "The Asset-Liability Structure of Australian Banks: Firm-Specific

Factors", Advances in Pacific Basin Business, Economics and Finance, Editor C. F. Lee,

Volume 3: 175-205. This paper was also presented at the 1997 Pacific Basin Business,

Economics and Finance Conference, July Singapore.

(7) Jonathan Batten and Craig Ellis (1998) "Statistical Long Term Dependence in Currency

Futures Markets", Advances in Pacific-Basin Financial Markets, Editors Ted Bos and

Thomas Fetherston, Volume 4: 159-170. This paper was presented at the 1997 Meeting of

the Multinational Finance Association, Thessaloniki, Greece.

(8) Jonathan Batten and Warren Hogan (1999) "Credit Derivatives: Issues for Law and

Economics”, in W. Weerasooria, "Perspectives on Banking, Finance and Credit Law",

edited by Wickrema Weerasooria, Prospect Australia 1999.

(9) Jonathan Batten, Craig Ellis and Warren Hogan (2000) "The Time Series Properties of

Credit Spreads: Evidence from Australian Dollar Eurobonds", Advances in Pacific-Basin

Financial Markets, Editor Thomas Fetherston, Volume 6: 261-293. ISBN: 0-7623-0642-4.;

Stamford, Conn.; JAI Press.

14

(10) Warren Hogan and Jonathan Batten (2001) “Corporate Governance Issues in Barings’

Failure”, Research in International Business and Finance, Editor Lance Nail. Special issue

on “Issues in International Corporate Control and Governance” Volume 15: 331-351.

ISBN: 0-7623-0700-5.; Amsterdam; New York and Tokyo; Elsevier Science, JAI.

(11) Jonathan Batten, Thomas Fetherston, Samanthala Hettihewa and Robert Mellor (2001)

“Management Attitudes to Corporate Governance Issues: Evidence from Sri Lanka”,

Research in International Business and Finance. Editor Lance Nail. Special issue on “Issues

in International Corporate Control and Governance” Volume 15: 273-295. ISBN: 0-7623-

0700-5.; Amsterdam; New York and Tokyo; Elsevier Science, JAI.

(12) Jonathan Batten and Yun-Hwan Kim (2001) “Expanding Long-Term Financing through

Bond Market Development: A Post Crisis Policy Task”. In “Government Bond Markets in

Asia”, Editor Yun-Hwan Kim, Asian Development Bank Manila. This paper was presented

at the Asian Development Bank Conference on Government Bond Markets and Financial

Sector Development in Developing Asian Economies, Manila March 2000

(http://www.adb.org/Documents/Conference/Govt_Bond_Market/default.asp) and at

seminars at the University of Western Sydney, Nepean (23 June 2000) and the Australian

National University Canberra (27 June 2000).

(13) Jonathan Batten and Thomas Fetherston (2002) “The Current Financial Risk Scene” in

Research in International Business and Finance, Editors Jonathan Batten and Thomas

Fetherston. Special issue on “Financial Risk and Financial Risk Management” Volume 16:

3-21. ISBN: 0-7623-0858-3.; Amsterdam; London and New York; Elsevier Science, JAI.

(14) Elizabeth Wong, Thomas A. Fetherston and Jonathan A. Batten (2002) “The Ability of

Regulatory Capital Models to Meet Prudential Objectives: A Credit Derivative Perspective”,

in Research in International Business and Finance, Editors Jonathan Batten and Thomas

Fetherston. Special issue on “Financial Risk and Financial Risk Management” Volume 16:

33-61. ISBN: 0-7623-0858-3.; Amsterdam; London and New York; Elsevier Science, JAI.

(15) Kym Brown, Jonathan Batten and Thomas Fetherston (2002) “International Bank Lending

and the Asian Crisis” in “The International Review of Comparative Public Policy”, Series

Editors: N. Mercuro and P.R. Smith, special issue on “International Financial Systems and

Stock Volatility: Issues and Remedies”, Editor Nidal Rashid Sabri. Volume 13: 45-62.

(16) Jonathan Batten, Warren Hogan and Seppo Pynnönen (2003) “The Time Varying Behaviour

of Credit Spreads on Yen Eurobonds" in International Finance Review, special issue on

Japanese Finance: Corporate Finance and Capital Markets in Changing Japan, Editors J.

J. Choi and Takato Hiraki. Elsevier Science, Volume 4: 383-408.

(17) Peter Szilagyi and Jonathan Batten (2003), “Disintermediation and Bond Market

Development in Japan”, in "International Finance Review, special issue on Japanese

Finance: Corporate Finance and Capital Markets in Changing Japan, Editors J. J. Choi and

Takato Hiraki. Elsevier Science, Volume 4: 255-281. An earlier version of this paper is also

available on the Social Science Research Network.

(18) Jonathan Batten and Thomas Fetherston (2003), “Why Governance and Social

Responsibility Matters”, in Research in International Business and Finance, Editors

Jonathan Batten and Thomas Fetherston. Special issue on “Social Responsibility: Corporate

Governance Issues” Volume 17: 3-19.

(19) Jonathan Batten and Warren Hogan (2003), “Banking and Social Responsibility”, in

Research in International Business and Finance, Editors Jonathan Batten and Thomas

15

Fetherston. Special issue on “Social Responsibility: Corporate Governance Issues” Volume

17: 443-457.

(20) Seppo Pynnönen, Warren Hogan and Jonathan Batten (2004), “Dynamic Equilibrium

Correction Modelling of Credit Spreads: The Case of Yen Eurobonds”, in “Contributions to

Management Science, Mathematics and Modelling: Essays in Honour of Professor Ilkka

Virtanen” Matti Laaksonen and Seppo Pynnönen (editors) in “Acta Wasaensia, No. 122

Mathematics 9. University of Vasa (Universitas Wasaensis), Finland ISBN 952-476-033-9.

(21) Jonathan Batten and Samanthala Hettihewa (2005) “Characteristics of Small Firm

Managers: Evidence from Sri Lanka” in “Economic Globalization in Asia”, Editors Manas

Chatterji and Partha Gangopadhyay, Ashgate Publishing Ltd. Aldershot, U.K. and

Burlington, Vt, USA. ISBN: 0754641147: Pages 248-260. This paper was previously

presented and included in the Proceedings of the “International Entrepreneurship 9th ENDEC

World Conference 16-18 August 1999 Singapore.

(22) Jonathan A. Batten and Thomas A. Fetherston (2005), “Asia Pacific Financial Markets in

Comparative Perspective: Issues and Implications for the 21st Century, in Jonathan A.

Batten and Thomas A. Fetherston, Editors, Asia Pacific Financial Markets in Comparative

Perspective: Issues and Implications for the 21st Century, Contemporary Studies in

Economics and Financial Analysis, Volume 87: 1-25, Elsevier Science, Amsterdam

Netherlands.

(23) Mukund Narayanamurti and Jonathan A. Batten (2005), “Encouraging Growth in Asia with

Multi-Pillar Financial Systems”, in Jonathan A. Batten and Thomas A. Fetherston, Editors,

Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the

21st Century, Contemporary Studies in Economics and Financial Analysis, Volume 87: 361-

415, Elsevier Science, Amsterdam Netherlands.

(24) Jonathan A. Batten, Thomas Fetherston and Pongsak Hoontrakul, (2005), “A Note on the

Equilibrium Relationships between Issuers in the Asia Pacific Region”, in Jonathan A.

Batten and Thomas A. Fetherston, Editors, Asia Pacific Financial Markets in Comparative

Perspective: Issues and Implications for the 21st Century, Contemporary Studies in

Economics and Financial Analysis, Volume 87: 167-176, Elsevier Science, Amsterdam

Netherlands.

(25) Jonathan A. Batten and Colm Kearney (2006), “Interdependence and Integration in

Emerging European Financial Markets”, in Jonathan A. Batten and Colm Kearney, Editors,

“Emerging European Financial Markets: Independence and Integration Post-

Enlargement”, International Finance Review Volume 6: 1-14, Elsevier Science, Amsterdam

Netherlands.

(26) Jonathan A. Batten and Pongsak Hoontrakul (2007), “What are the Next Steps for Bond

Market Development in Thailand?” in Suk-Joong Kim and Michael McKenzie, Editors,

“Asia Pacific Financial Markets: Integration, Innovation and Challenges”, International

Finance Review, Volume 8: 497-519, Elsevier Science, Amsterdam Netherlands.

(27) Kannan Thuraisamy, Gerry Gannon and Jonathan A. Batten (2008), Chapter 7, "Credit

Spread Dynamics: Evidence from Latin America", pages 97-114- in Wagner N. (ed.): Credit

Risk – Models, Derivatives and Management, Financial Mathematics Series Vol. 6,

Chapman & Hall / CRC, Boca Raton, London, New York xxi—599.

(28) Warren P. Hogan and Jonathan A. Batten, (2009) “Markets, Disturbances and Responses”,

Chapter 3 (pages 37-46) in K. Puttaswamaiah (ed.) in “Milton Friedman: Nobel Monetary

16

Economist- A Review of his Theories and Policies,” British Channel Islands: Edenbridge,

Isle; distributed by Enfield Distribution, Enfield, N.H. AN: 1084677. ISBN 978-0-9823895-

0-8.

(29) Alham Yusuf and Jonathan A. Batten (2009) "Currency Swaps and Australian Debt

Management Practice" in Jay Choi and Michael Papaioannou (editors) "International

Finance Review" special issue, "Credit, Currency or Derivatives: Instruments of Global

Financial Stability or Crisis". Volume 10: 293-327. The Emerald Group Publishing, U.K.

This paper was Presented at the 2006 INFINITI Conference, June 12-13th, Trinity College

Dublin.

(30) Jonathan A. Batten, Warren P. Hogan, Peter G. Szilagyi (2010), “Asia-Pacific perspectives

on the global financial crisis 2007–2009”, in Suk-Joong Kim, Michael D. McKenzie (ed.)

International Banking in the New Era: Post-Crisis Challenges and Opportunities

(International Finance Review, Volume 11), Emerald Group Publishing Limited, pp.87-117.

(31) Jonathan A. Batten, Peter G. Szilagyi (2011), “The Impact of the Global Financial Crisis on

Emerging Financial Markets”, in Jonathan A. Batten, Peter G. Szilagyi (ed.) The Impact of

the Global Financial Crisis on Emerging Financial Markets (Contemporary Studies in

Economic and Financial Analysis, Emerald Group Publishing Limited, Volume 93: 3-16.

(32) Jonathan A. Batten, Warren P. Hogan and Peter G. Szilagyi (2012), “Foreign Bond Markets

and Financial Market Development: International Perspectives”, in Masahiro Kawai, David

G. Mayes and Peter Morgan (ed.), Implications Of The Global Financial Crisis For

Financial Reform And Regulation In Asia, Edward Elgar Publishers, Cheltenham, U.K. pp.

248-271.

(33) Jonathan A. Batten and Niklas Wagner, (2012) “Derivatives Securities Pricing and

Modelling: An Introduction”, in Jonathan A. Batten and Niklas Wagner (ed.) Derivative

Securities Pricing and Modelling, Contemporary Studies in Economic and Financial

Analysis, Emerald Group Publishing Limited, Volume 94: 3–14.

(34) Victor Fang, A.S.M. Sohel Azad, Jonathan A. Batten, Chien-Ting Lin, (2012),"Business

Cycles and the Impact of Macroeconomic Surprises on Interest Rate Swap Spreads:

Australian Evidence", in Jonathan A. Batten and Niklas Wagner, (ed.) Derivative Securities

Pricing and Modelling, Contemporary Studies in Economic and Financial Analysis, Emerald

Group Publishing Limited, Volume 94: 379 – 398.

(35) Jonathan A. Batten and Peter G. Szilagyi (2012), “Comments on Qianying Chen, Andrew

Filardo, Dong He and Feng Zhu’s paper “The impact of central bank balance sheet policies

on the emerging economies” in “Are Central Bank Balance Sheets in Asia too Large:

Proceedings from the Bank of Thailand-BIS research Conference on “Central Bank Balance

Sheets in Asia and the Pacific: The Policy Challenges Ahead”, Monetary and Economic

Department, BIS Papers No 66, pp. 265-284.

(36) Jonathan A. Batten, Igor Loncarski, Peter G. Szilagyi (2013), “Recent cross-border banking

within Europe: International balance sheet perspectives”, in Bang Nam Jeon, María Pía

Olivero (ed.) Global Banking, Financial Markets and Crises (International Finance Review,

Volume 14), Emerald Group Publishing Limited, pp.15-30.

(37) Kym Brown, Jonathan A. Batten, Michael T. Skully and Yen N. Nguyen, (2014)

"Comparative Financial Development in Asia-Pacific since the Asia Crisis" in David Lee

17

and Greg Gregoriou, "Handbook of Asian Finance" Volume 1 and Volume 2. Academic

Press, 2014, pp. 237-250, ISBN. 9780128009826.

(38) Jonathan A. Batten and Niklas F. Wagner (2014), “Introduction to Risk Management Post

Financial Crisis: A Period of Monetary Easing”, in Jonathan A. Batten, Niklas F. Wagner

(ed.) Risk Management Post Financial Crisis: A Period of Monetary Easing (Contemporary

Studies in Economic and Financial Analysis, Volume 96) Emerald Group Publishing

Limited, pp. 3 – 13.

D3. Refereed Journal Articles (1) Jonathan Batten, Robert Mellor and Victor Wan (1993), "Foreign Exchange Risk

Management Practices and Products Used by Australian Firms", Journal of International

Business Studies, 24 (3): 557-575. This paper was presented at the 1991 Meetings of the

Australian and New Zealand Academy of Management, and the 1991 Conference of

Economists.

(2) Jonathan Batten (1995) "Foreign Banks and the Australian Financial System A Decade After

Deregulation", Journal of Global Business, 6(10): 19-33. This paper was also presented at

the 1994 Meeting of the Association for Global Business, Las Vegas.

(3) Jonathan Batten and Craig Ellis (1996) "Technical Trading System Performance in the

Australian Share Market: Some Empirical Evidence", Asia Pacific Journal of Management,

13(1): 1-13, 1996.

(4) Jonathan Batten and Craig Ellis (1996) "Fractal Structures and Naive Trading Systems:

Evidence from the Spot US Dollar/ Japanese Yen", Japan and the World Economy, 8(4):

411-421, 1996. This paper was presented at the Asia Pacific Finance Association/PACAP

Finance Conference, Taipei, July 8-10, 1996.

(5) Jonathan Batten (1997) "Trends in the Asset-Liability Structure of Australian Banks",

Journal of the Asia-Pacific Economy, 2(1): 28-57. This paper was presented at the 1995

Meeting of the Financial Management Association, Honolulu, Hawaii.

(6) Jonathan Batten, Robert Mellor and Samanthala Hettihewa (1997), "The Ethical

Management Practices of Australian Firms", Journal of Business Ethics, 16: 1261-1271.

(7) Jonathan Batten and Colm Kearney (1998) “Legislating Financial Reform: The Australian

Experience”, Australian Journal of Corporate Law, 8: 300-320, 1998. This paper was also

presented at the 1997 Asia-Pacific Economic Law Forum, Wellington New Zealand.

(8) Jonathan Batten, Robert Mellor and Sean Toohey (1998) "Active Foreign Exchange Risk

Management in Australian Non-Financial Firms", Asia Pacific Journal of Finance, 1: 209-

234.

(9) Jonathan Batten, Robert Mellor and Samanthala Hettihewa (1999) "Factors Affecting

Ethical Management: Comparing a Developed and a Developing Economy", Journal of

Business Ethics, 19: 51-59.

(10) Jonathan Batten and Warren Hogan (1999) "Credit Derivatives: An Appraisal for Australian

Financial Institutions", Economic Papers 18(2): 19-42. This paper was presented at seminars

at the University of Melbourne (October 1998) and at the University of Western Sydney,

Nepean (November 1998).

18

(13) Jonathan Batten, Craig Ellis and Robert Mellor (1999) "Scaling Laws in Variance as a

Measure of Long-Term Dependence", International Review of Financial Analysis, 8(2):

123-138. This paper was presented at the European Financial Management Association

Conference, Barcelona June 3-4, 1999.

(14) Jonathan Batten and Samanthala Hettihewa (1999), “The Small Business Sector in Sri

Lanka", Small Business Economics, 13 (3): 201-217.

(15) Jonathan Batten, Warren Hogan and Seppo Pynnönen (2000) “The dynamics of Australian

dollar bonds with different credit qualities”, International Review of Financial Analysis 9

(4): 389-404.

(16) Jonathan Batten, Craig Ellis and Thomas Fetherston (2000) “Are Long-Term Anomalies

Illusions: Evidence from the Spot Yen”, Japan and the World Economy. 9(4): 389-404.This

paper was presented at the 2000 Financial Management Association Annual Meeting Seattle

and the 2000 Europe –FMA, Edinburgh.

(17) Jonathan Batten and Warren Hogan (2001) “Price Discovery in the Australian dollar foreign

exchange market”, Economic Papers. Special Edition: 64-75. This paper was presented at

the Tenth Money and Finance Conference, 8-9th December 2000, Melbourne Australia.

(18) Jonathan Batten and Craig Ellis (2001), “Scaling Gaussian Processes”, Economics Letters.

72(3), September: 291-296. This paper was presented at the Annual Research Conference

in Financial Risk, 12-14 July 2001 Budapest, Hungary.

(19) Justin Iu and Jonathan Batten (2001) “The Implementation of OECD Corporate Governance

Principles in Post Crisis Asia”, The Journal of Corporate Citizenship 4 (Winter): 47-62.

(20) Jonathan Batten, Craig Ellis and Warren Hogan (2002) "Scaling the Volatility of Credit

Spreads: Evidence from Australian Dollar Eurobonds”, International Review of Financial

Analysis, 11(3): 331-344. This paper was presented at seminars at NTU and NUS, Singapore

in March 1999 and at the 9th PACAP-FMA Singapore Conference in July 1999. Currently

abstracted on SSRN (Social Science Research Network).

See http://papers.ssrn.com/paper.taf?abstract_id=159648.

(21) Jonathan Batten, Warren Hogan and Francis In (2002) “Valuing Credit Spreads on Quality

Australian Dollar Eurobonds in a Multivariate EGARCH Framework”, Australian

Economic Papers. 41(1) March 115-128.

(22) Seppo Pynnönen, Warren Hogan and Jonathan Batten (2002) "Expectations and Liquidity

in High Grade Yen Bond Markets", Journal of the Asia-Pacific Economy. 7(3): 335-354.

(23) Jonathan Batten and Warren Hogan (2002) “A Perspective on Credit Derivatives”,

International Review of Financial Analysis (Special Issue on Credit Derivatives) 11(3): 251-

278. This article is also summarised by Brian Maris and abstracted as part of the “CFA

Digest” Volume 33 August (3), 2003.

(24) Jonathan Batten, Thomas Fetherston and Pongsak Hoontrakul (2002) “Modelling the Credit

Spreads and Long-Term Relationships of Thai Yankee Bond Issues”, Asian Economic

Journal, 16(4): 379-397. This paper was presented at the Asia Pacific Finance Association

(APFA) meeting in Bangkok, Thailand 22-25th July 2001.

(25) Jonathan Batten and Warren Hogan (2003) “Time-variation in the credit spreads on

Australian Eurobonds”, Pacific-Basin Finance Journal. 11(1): 81-99. This paper was

19

presented at the 2000 Financial Management Association (FMA) Annual Meeting Seattle,

and at the 2000 FMA-PACAP meeting, Melbourne.

(26) Francis In, Jonathan Batten and Sangbae Kim (2003) “What Drives the Japanese Yen

Eurobond Term Structure”, Quarterly Review of Economics and Finance. 43(3): 518-541.

(27) Jonathan Batten and Peter Szilagyi, (2003) “Why Japan needs to develop its Corporate Bond

Market”, International Journal of the Economics of Business. 11(1): 85- 110.This paper was

presented at the 2002 FMA-PACAP meeting Tokyo and the 10th Annual Conference on

Pacific Basin Finance, Economics and Accounting, 7 - 8 August 2002, Singapore.

(28) Peter Szilagyi, Jonathan Batten and Thomas Fetherston (2003) "Disintermediation and the

Development of Bond Markets in Emerging Europe", International Journal of the

Economics of Business. 10(1): 69-84.

(29) Jonathan Batten, Craig Ellis, C. and Warren Hogan, (2003) “The Behaviour of Credit

Spreads on Yen Denominated Eurobonds”. International Journal of Applied Economics and

Econometrics. 11 (3). 335-357.

(30) Brock Johnson and Jonathan Batten (2003) “Forecasting Credit Spread Volatility: Evidence

from the Japanese Eurobond Market”. Asia Pacific Financial Markets. 10: 335–357.

(31) Bruno Gerard, Kessara Thanyalakpark and Jonathan Batten (2003) “Are the East Asian

Markets Integrated: Evidence from the ICAPM", Journal of Economics and Business. 55:

585–607.This paper was presented at the 2002 FMA-PACAP meeting Tokyo, the Global

Finance Conference in Beijing May 27-29, 2002, and the 2002 FMA US Meeting San

Antonio, Texas. See: http://finance.bi.no/~bruno/YuiIntegrationV4b.pdf

(32) Peter Szilagyi and Jonathan Batten, (2004) “Corporate Governance and Financial System

Development: Asia–Pacific in Comparative Perspective”, Journal of Corporate Citizenship,

11(Spring): 49-64.

(33) Martin Young, Warren Hogan and Jonathan Batten (2004) “The Effectiveness of Interest

Rate Futures Contracts for Hedging Japanese Bonds of Different Credit Quality and

Duration”, International Review of Financial Analysis 13: 13-25. This paper was presented

at the 11th Annual PACAP-FMA Conference, Seoul July 2001 and presented at the 2002

FMA-Europe Conference, June 6 to June 8 Copenhagen Denmark.

(34) Jonathan Batten and Vincentiu Covrig (2004) “The Japan Premium and the Floating- Rate

Yen Euromarket”, Journal of the Asia-Pacific Economy, 9(3): 288-300. This paper was

presented at the 10th Annual PACAP-FMA, Melbourne July 2000, 7th Asia Pacific Finance

Association Shanghai July 2000, and the Academy of International Business Conference,

November Sydney 2001. Working paper at Nanyang Technological University, Singapore

website: http://www.ntu.edu.sg/nbs/crefs/working_papers/wp2000-09.pdf.

(35) Quang-Ngoc Nguyen, Jonathan A. Batten, Thomas A. Fetherston, (2004) “Size and Book-

to-Market Effects in the Returns on US Information Technology Stocks”, Research in

Finance, 21: 45-91. This paper was presented at the 2002 FMA-Europe Conference June 6

to June 8, 2002 Copenhagen, Denmark.

(36) Jonathan Batten, Craig Ellis and Thomas Fetherston (2005) “Statistical Illusions and Long-

Term Return Anomalies on the Nikkei”. Chaos, Solitons & Fractal, 23: 1125-1136. This

paper was presented at the Annual Research Conference in Financial Risk, 12-14 July 2001

20

Budapest, Hungary, and the 12th Annual PACAP-FMA Conference, Melbourne 6-8th July

2000.

(37) Jonathan Batten, Craig Ellis and Warren Hogan, (2005) “Decomposing Intraday

Dependence in Currency Markets: Evidence from the AUD/USD Spot Market”, Physica A:

Statistical Mechanics and its Applications, 352(2-4): 558-572. This paper was presented at

the 2002 FMA US Meeting San Antonio, Texas.

(38) Warren Hogan and Jonathan Batten (2005) “Informed and Uninformed Trading on the

Australian Dollar”. International Review of Financial Analysis, 14 (1): 61-75. This paper

was presented at the 2001 Financial Management Association Meeting in Paris 27-30 June.

(39) Craig. A. Ellis and Jonathan A. Batten (2005) “Parameter Estimation Bias and Volatility

Scaling in Black-Scholes Options”, International Review of Financial Analysis, 14(2): 165-

176.

(40) Jonathan Batten, Warren Hogan and Gady Jacoby (2005) “Measuring Credit Spreads:

Evidence from Australian Eurobonds”. Applied Financial Economics, 15(9): 651-666. This

paper was presented at the 10th Annual PACAP-FMA Meeting Melbourne July 2000.

(41) Jonathan Batten, Warren Hogan and Niklas Wagner, (2005) “Interest Rates, Stock Market

Returns, and Variations in German Credit Spreads.” Economic Notes, 34(1): 35-50.

(42) Jonathan Batten and David Birch (2005) “Defining Corporate Citizenship: Evidence from

Australia”. Asia Pacific Business Review, 11(3) September (lead article): 293-308. Also, an

early version was included in the Proceedings of the Eighth Annual International Conference

Promoting Business Ethics, October 24-26 Chicago USA 2001.

(43) Francis In and Jonathan Batten (2005) “Expectations and Equilibrium in High Quality

Australian Bond Markets”. Review of Pacific Basin Financial Markets and Policies, 8(4):

573-592. This paper was presented at the 2001 Financial Management Association Meeting

in Paris 27-30 June.

(44) Jonathan A. Batten and Peter G. Szilagyi, (2005), “Response to Block and Barnett: A

Positive Program for Laissez Faire Capitalism”, Journal of Corporate Citizenship. 19

(Autumn): 43-50.

(45) Jonathan A. Batten, Thomas Fetherston and Pongsak Hoontrakul (2006) “Factors Affecting

the Yields of Asian Issues in International Bond Markets”. Journal of International

Financial Markets, Institutions and Money 16(1): 57-70. This paper was presented at the

Asia Pacific Finance Association (APFA) meeting in Bangkok, Thailand 22-25th July 2001

and a revised version at the “International Bond and Debt Market Integration Conference”

May 31 -June 1st 2004, Institute for International Integration Studies, Trinity College,

Dublin Ireland.

(46) Seppo Pynnonen, Warren Hogan and Jonathan A. Batten, (2006) “Modelling Credit Spreads

on Yen Eurobonds in an ECM Environment”. Applied Financial Economics 16(8): 583-

606. This paper was presented at the 2004 Multinational Finance Association Annual

meeting, Turkey.

(47) Jonathan A. Batten and Francis In (2006) “Dynamic Interaction and Valuation of Quality

Yen Eurobonds in a Multivariate EGARCH Framework”. Applied Financial Economics,

16(12): 881-892.

21

(48) Robert Mellor, Samanthala Hettihewa and Jonathan A. Batten, (2006) “The relationship

between firm management and the ethical practices of the firm: Australian evidence”. The

Journal of Corporate Citizenship, 22 (Summer): 27-37.

(49) Jonathan A. Batten, Ranjan George and Samanthala Hettihewa, (2007), “Is Corporate

Ethical Practice Changing? Evidence from Sri-Lanka”. Asia Pacific Business Review.13 (1-

January): 59-78.

(50) Peter G. Szilagyi and Jonathan A. Batten (2007), “Covered interest parity arbitrage and

temporal long-term dependence between the US dollar and the Yen”, Physica A: Statistical

Mechanics and its Applications, 376: 409-421.

(51) Jonathan A. Batten and Samanthala Hettihewa (2007) “Risk Management and Derivatives

Use in Australian Firms”, Journal of Asia Business Studies (Spring): 37-44.

(52) Jonathan A. Batten and Peter Szilagyi (2007) "Domestic Bond Market Development: The

Arirang Bond Experience in Korea." World Bank Research Observer, 22: 165-195. Also

IIIS Discussion Paper No. 138 and available at SSRN: http://ssrn.com/abstract=923783.

(53) Jonathan A. Batten, Craig Ellis and Thomas Fetherston (2008) “Sample Period Selection

and Long-Term Dependence: New Evidence from the Dow Jones”, Chaos, Solitons &

Fractals, 36 (5): 1126-1140. Presented at the Econophysics Colloquium 14-18 November

2005 ANU Canberra.

(54) Leonid V. Philosophov, Jonathan A. Batten and Vladimir L. Philosophov, (2008)

“Predicting the Event and Time Horizon of Bankruptcy Using Financial

Ratios and the Maturity Schedule of Long-Term Debt”. Mathematics and Financial

Economics. 1(3): 181-212. This paper was presented at the Eastern Finance Conference

March 2005, Global Finance Conference June 2005, and European Finance Association

Conference 2005. Available http://ssrn.com/abstract=46146).

(55) Kannan Thuraisamy, Gerry Gannon and Jonathan A. Batten, (2008) “The Credit Spread

Dynamics of Latin American Euro Issues in International Bond Markets”. Journal of

Multinational Financial Management. 18:328-345. Presented at the 2007 INFINITI

Conference, Dublin.

(56) Jonathan Batten, Robert Mellor and Samanthala Hettihewa (2008) “Ethical Management

Practices in Australia”? Global Business Review 9(1): 1-18. (lead article).

(57) Warren P. Hogan and Jonathan A. Batten (2008), “Markets, Disturbances and Responses”

International Journal of Applied Economics and Econometrics, April-June 16(2): 39-50.

(58) Jonathan A. Batten and Xuan Vinh Vo, (2009) “An Analysis of the Relationship between

FDI and Economic Growth”. Applied Economics. 41(13) May: 1621 – 1641. Part of a special

issue, “The applied economics of economic growth: introduction and overview”. Also

presented at the 2006 Academy of International Business Conference and the Asian/FMA

Conference Auckland NZ July 10-12, 2006.

(59) Gady Jacoby, Liao Chuan and Jonathan Batten, (2009) “Testing for the Elasticity of

Corporate Yield Spreads”, Journal of Financial and Quantitative Analysis. 44(June): 641-

656. Also HKUST Business School Research Paper No. 07-03 and available at SSRN:

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=967627. This paper was also presented

at the 2007 European Financial Management Association Annual Meeting, Vienna, Austria.

22

(60) Jonathan A. Batten and Mahmoud Hamada (2009), “The Compass Rose Pattern in

Electricity Prices”. “Chaos: An Interdisciplinary Journal of Nonlinear Science”. Chaos 19,

043106 (2009): DOI: 10.1063/1.3243920. Presented at the 2008 European Financial

Management Association Meeting, Athens, Greece.

(61) Hon-Lung Chung, Wai-Sum Chan and Jonathan A. Batten (2010) “Modelling the US Swap

Spread”. Research in Finance, Volume 26: 161-188. DOI:10.1108/S0196-

3821(2010)0000026010. This paper was presented at the Decision Sciences Institute Annual

Conference (Baltimore) November, 2008.

(62) Jonathan Batten and Brian Lucey, (2010) “Volatility in the Gold Futures Market”. Applied

Economics Letters. Volume 17, Issue 2 (February): 187 – 190. Available at SSRN:

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=996235.

(63) Jonathan Batten and Peter Szilagyi, (2010) “Is covered interest arbitrage extinct? Evidence

from the US dollar-Japanese Yen. Applied Economics Letters, Volume 17 (3), pp. 283-287.

Available at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=923769. This paper was

also presented at the 2007 European Financial Management Association Annual Meeting,

Vienna, Austria.

(64) Jonathan A. Batten, Cetin Ciner and Brian M. Lucey, (2010) “Macroeconomic Determinants

of Volatility in Precious Metals Markets”. Resources Policy, 35(2): 65-71.

doi:10.1016/j.resourpol.2009.12.002.

(65) Jonathan A. Batten and Xuan Vinh Vo (2010) “The Determinates of Equity Portfolio

Holdings”, Applied Financial Economics, 20(14): 1125-1132.

(66) Jonathan A. Batten, Warren P. Hogan and Peter G. Szilagyi, (2011), “The Role of Foreign

Bond Issuance: The Case of Australia”, Australian Economic Review. 44(1): 36-50.

(67) Jonathan A. Batten and Peter G. Szilagyi, (2011), “The Recent Internationalisation of

Japanese Banks". “The Japanese Economy” 38(1) Spring: 81-120. Presented at the All China

Economics Conference, Hong Kong December 14-16, 2009, and the Portuguese Finance

Network, 6th Finance Conference, July 1-3, 2010 Ponta Delgada, Portugal.

(68) Hon-Lun Chung, Wai-Sum Chan and Jonathan A Batten, (2011), “Threshold Non-Linear

Dynamics between Hang Seng Stock Index and Futures Returns” European Journal of

Finance 17(7), August, pages 471-486.

(69) Jonathan A. Batten (2011), “Financial Sector Reform and Regulation in the Asia Pacific

Region: A Perspective”, Journal of the Asia Pacific Economy, 16(3) August, pages 285-293.

(70) Jonathan A. Batten and Peter G. Szilagyi (2011), "Bank Internationalisation during the

Global Financial Crisis: An Asia Pacific Perspective". Journal of the Asia Pacific Economy,

16(3) August, pages 372-392.

(71) Jonathan A. Batten and Peter G. Szilagyi (2012), “Bank Internationalization since 1995”.

Journal of Financial Transformation. Volume 35, pp. 91- 105.

(72) Jonathan A. Batten and Peter G. Szilagyi (2012), “International Banking during the Global

Financial Crisis: U.K. and U.S. Perspectives”. International Review of Financial Analysis.

(Special issue on International Banking). 25: 136-141. Presented at The European

Conference on Banking and the Economy, Winchester Guild Thursday 29 September,

2011, Winchester, U.K. and the EBES Conference Istanbul, May 2012.

23

(73) Jonathan A. Batten, Cetin Ciner, Brian M. Lucey and Peter G. Szilagyi (2013) "The

Structure of Gold and Silver Spread Returns" Quantitative Finance. 13(4): 561-570.

(74) Jonathan A. Batten, Harald Kinateder and Niklas Wagner (2014), "Multifractality and

Value-at-Risk Forecasting of Exchange Rates". Physica A. Volume 401, May: 71-81.

(Accepted January 12, 2014, submitted May 2013). Presented at the 2nd International

FEBS Conference 2012, London U.K.

(75) Jonathan A. Batten, Cetin Ciner and Brian M Lucey (2014) “On the economic

determinants of the gold–inflation relation” Resources Policy. Volume 41, September

2014, Pages 101–108.

(76) Jonathan A. Batten and Xuan-Vinh Vo, (2014) "The Liquidity and Return Relationship in

a Small Emerging Market during a period of Financial Crisis” Emerging Markets, Finance

and Trade, Volume 50, Number 1 (January-February), Pages: 5 – 21. DOI:

10.2753/REE1540-496X500101 (Presented at a seminar at Massey University, Palmerston

North (July 27, 2011) and Massey University, Albany (Accepted March, 2013).

(77) Jonathan A. Batten, Gady Jacoby and Rose Chuan Liao, (2014) "Yield Spreads and Real

Interest Rates". International Review of Financial Analysis. 34: 89-100. Presented at the

JBS, University of Cambridge June 12, 2009, Presented at the FMA Annual Meeting 2010,

November, New York.

(78) Jonathan A. Batten, Peter G. Szilagyi and Michael C. S. Wong, (2014) “Stock Market

Spread Trading: Argentina and Brazil Stock Indexes”. Emerging Markets Finance &

Trade. May2014 Supplement, Vol. 50, pages 61-76. DOI: 10.2753/REE1540-

496X5003S304.

(79) Jonathan A. Batten, Karren Lee-Hwei Khaw and Martin R. Young, (2014) "Convertible

Bond Pricing Models" Journal of Economic Surveys, 28(5), December: 775-803.

(80) Jonathan A. Batten, Ciner, Cetin; Lucey, Brian M. (2015). “Which precious metals spill

over on which, when and why? Some evidence” Applied Economics Letters. Vol. 22 Issue

6: 466-473. DOI: 10.1080/13504851.2014.950789

(81) Jonathan A. Batten, Peter Morgan and Peter G. Szilagyi, (2015) “Time-Varying Stock

Market Integration: Asian Perspectives” Singapore Economic Review. Vol. 60, No. 1

(2015) 1550006 (24 pages). Presented at the Western Economic Association International

Conference March 2013, Tokyo. DOI: 10.1142/S021759081550006X

(82) A.S.M. Sohel Azad, Jonathan A. Batten, Victor Fang and J. Wickramanayak (2015),

"International Swap Market Contagion and Volatility" Economic Modelling. 47: 355-371.

This paper was presented at the Asia-Pacific Association of Derivatives (APAD) 8th

Annual Conference on August 23-24, 2012.

(83) A.S.M. Sohel Azad, Jonathan A. Batten and Victor Fang, (2015) "What Determines the

Yen Swap Spread?" International Review of Financial Analysis 40: 1-13.

(84) Jonathan A. Batten, Peter G. Szilagyi and Niklas Wagner, (forthcoming) "Should

(Emerging Market) Investors Buy Commodities?" Applied Economics. Accepted for

presentation at the EMU-SSEM Euroconference May 2013. Accepted March 4, 2015.

24

E. Research Grants, Projects and Consultancies

E1 External Grants

1992-1995. Joint Academic Project Leader (with L. Dwyer) on the development of a

Diploma in Banking and Finance in Conjunction with Advance Bank and Macsearch Ltd.

Education Training Foundation (EDF) funding of A$892,000 for Diploma development.

1999-2000. Asian Development Bank Technical Assistance Program (TA-5809-REG), on

“Study on the Development of Government Bond Markets in Selected Developing

Member Countries” US$13,200.

2001. Asia Pacific Finance Association and Chulalongkorn University Bangkok, Thailand

for project on “Factors Affecting the Yields of Emerging Market Issues in International

Bond Markets: Evidence from Thailand”, US$2,000.

2001-2003. Reuters Australia Pty Ltd for installation of the Reuters Markets 3000 internet

service at Deakin University, Burwood Campus, A$28,591 per year for 3 years

(A$85,773).

2001-2002. Industry Grants to the Corporate Citizenship Research Group, Social and

ethical accountability research A$66,000 (2002, $21,000; 2001, $45,000) with David

Birch, and M. Townsend.

2003-2004. Asian Development Bank Technical Assistance Program (T.A. No. 4035-

VIE), “Money Market and Information Technology Investment Needed for the Socialist

Republic of Vietnam” US$140,000 (with Peter G. Szilagyi).

2004-2005 Asian Development Bank RSC No. C40599-OHQ “Country Case Study in

Local Currency Bond Issuance by Foreign Issuers”, US$147,000. (With Peter G. Szilagyi).

2010-2011 The World Bank, Supporting Capital Market Development, Debt Management

and Pension Administration Reforms through a Technical Assistance – Project Preparation

Facility (PPF): Corporate Bond Market Development India - Technical study on

investment regulations of institutional investors, RFP #: DEA/SEBI-Corp/10/5,

Component with Peter G. Szilagyi US$35,000 (Total RFP US$650,000).

2012-2013. SWIFT Institute. “The Path to Currency Internationalisation: Is there a tipping

point?” Grant 20120001, Euro 15,000 (with Peter G. Szilagyi).

2013. Bank for International Settlements, Basel, Switzerland. Research Fellowship,

“Linking International Banking Flow Data”. Grant SWF 25,000.

E2. Internal University Grants

UWS Macarthur, Australia

1991 A$2,700; 1992 A$3,100; 1994 A$4,250

Deakin University, Australia

1999 A$10,000. Bridging Grant

2002 A$20,000, with David Birch “Measuring Corporate Governance and Citizenship

practice in Australia.

2002 A$15,000 “Measuring Risk and Return in Asset Markets”.

Macquarie University, Australia

2005 A$20,000, “Scaling Volatility and Long Term Dependence” MUNS grant 5401-0099.

2005 A$30,000 Professorial Start-Up Grant 5401-2148.

Hong Kong University of Science & Technology

2007-2009. H$100,000. DAG07/08.BM08, “Simultaneously modelling asset prices and the term structure of interest rates”. 2009-2011. H$50,000 DAG_S08/09.BM09, “Yield Spreads and Real Interest Rates” 2010-2011. HK$100,000 RPC 10BM23 "Building a Viable Bond Market to Support Hong Kong's role as an International Finance Centre" (with Chu Zhang). 2010-2012. HK$140,000. RPC10BM18. “Arbitrage, Liquidity and Price Discovery in Stock Index Cash and Futures Markets”.

25

2011-2013. HK$150,000. RPC11BM08 “The Impact of Financial Development and Socio-Cultural Factors on Investment Selection”.