Professor Angela Black
After completing a PhD, my first full time academic appointment began in 1994 with the University of St. Andrews. Thereafter, I joined the University of Aberdeen and was appointed Professor of Finance in 2003. I specialise in teaching business finance, corporate finance, investment analysis, international finance and portfolio analysis; and have taught these subjects on undergraduate, postgraduate and MBA programmes. Currently, I am teaching Corporate Finance on the Scottish Graduate Programme in Economics.
I enjoy working closely with finance professionals and have been a pension trustee and an investment adviser to professional boards; I have also chaired charitable trust committees. My research interests lie in the area of asset pricing, corporate finance and the relationship between stock markets and the "real" economy.
Publications include more than 26 research papers in peer reviewed journals and have I written articles on personal finance for the media. My work has been cited in the Financial Times. Editorial responsibilities include associate editor for the Journal of Banking and Finance, the International Review of Finance and the British Accounting Review.
I have presented papers at many conferences in locations across the world and I have been an external examiner for many universities, including, Manchester, Edinburgh, Newcastle, Dublin, Barcelona, Western Australia and assessor in other roles, such as Chairs in Finance. From, 2005-2008 I was the graduate school director for the college of arts and social sciences and from 2008 to 2012, I was head of the business school.
I am passionate about teaching, learning and research in finance and continually seek methods that promote engagement with students, the profession and the public.
My focus is on the links between financial markets and the real economy and I seek answers to questions about the reasons why prices of assets vary over time. Methodological approaches include time-series and cross-sectional data analysis. Key words: asset pricing; econometric analysis; risk aversion; risk premia; discount rates; excess volatility.
Current research projects include:
Forecasting rates of return and time varying risk premiums.
Dividend payouts or share repurchases; the impact on pensions.
Investment strategies for non-investors.
I coordinate and teach Corporate Finance on the Scottish Graduate Programme in Economics.
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Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy RateJournal of Real Estate LiteratureContributions to Journals: Articles
Adjustments in the Labor and Real Estate Markets: Estimates of the Time Series Variation in the Natural Vacancy RateWorking Papers and Discussion Papers: Discussion Papers
The existence and source of stock return predictability: Evidence from dividend, consumption and output ratiosJournal of Asset Management, vol. 16, no. 3, pp. 186-208Contributions to Journals: Articles
Cointegration between stock prices, dividends, output and consumption: Evidence and forecasting ability for 29 marketsReview of Accounting & Finance, vol. 14, no. 1, pp. 81-103Contributions to Journals: Articles
Forecasting Stock Returns: Do Commodity Prices Help?Journal of forecasting, vol. 33, no. 8, pp. 627-639Contributions to Journals: Articles
The use of teriparatide in the treatment of postmenopausal osteoporosis: experience of using bone markers and bone mineral density to monitor responseScottish Medical Journal, vol. 58, no. 4, pp. E33-E34Contributions to Journals: Abstracts
The value premium and economic activity: long run evidence from the United StatesJournal of Asset Management, vol. 10, no. 5, pp. 305-317Contributions to Journals: Articles
Are international value premiums driven by the same set of fundamentals?International Review of Economics & Finance, vol. 16, no. 1, pp. 113-129Contributions to Journals: Articles
House Prices, Fundamentals and BubblesJournal of business finance & accounting, vol. 33, no. 9, pp. 1535-1555Contributions to Journals: Articles
Asymmetric risk premium in value and growth stocksInternational Review of Financial Analysis, vol. 15, no. 3, pp. 237-246Contributions to Journals: Articles