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A/PROF CHRISTINE ANN BROWN



Contact Details

Organization: Finance
Position: ASSOCIATE PROFESSOR
Email:
Homepage: http://www.finance.unimelb.edu.au/about/staff/fin_staff_webpage.cfm?StaffNo=99

Biography

Christine Brown completed a Bachelor of Science degree with Honours, Master of Science and PhD in mathematics and a DipEd at the University of Melbourne. She currently teaches in the areas of risk management, corporate finance, financial institutions management and quantitative finance. Her current research interests include share buybacks, dividends and option pricing, derivative markets, pricing new market innovations and capital management. Her research is published in leading international journals, and she regularly presents her research at domestic and international academic conferences. She is Chairperson of the Melbourne University Credit Union, has undertaken consulting assignments for the Australian Treasury and other government and corporate sector clients. In 2007 she consulted to the Board of Taxation on the Review of the Taxation Treatment of Off-Market Share Buybacks, and in that year was awarded an ARC Discovery Grant for the project "Share Buybacks and Information Asymmetry: Winners and Losers". She has extensive experience in executive teaching and was for over ten years a principal presenter on the Understanding Treasury Management Program (conducted jointly with Ernst & Young and ANZ Bank).

Research Expertise and International Linkages

Research Expertise

Research Interest Key Words Country of Expertise
Derivatives pricing and efficiency of markets, financial institutions management, market innovations, corporate finance share repurchases Australia

International Linkages

Country Establishment Collaboration
United Kingdom University of Strathclyde Technical Assistance/Training
United Kingdom Queen's University of Belfast Research, Teaching, Technical Assistance/Training

Qualifications, Honours, Fellowships and Other Awards

Qualifications

Title Institution Date Awarded Abbreviation
Bachelor of Science (honours) University of Melbourne 31-Dec-1974
Graduate Diploma in Education University of Melbourne 31-Dec-1975
Master of Science University of Melbourne 31-Dec-1979
Doctor of Philosophy University of Melbourne 31-Dec-1994

Memberships

Membership Type Membership Body Description Start Date End Date
Member American Finance Association 01-Jan-1992
Senior Member FINSIA 01-Jan-1995
Member AFAANZ 01-Jan-1992
Member FMA International 01-Jan-1995

Government Research Classifications

Research Fields, Courses and Discipline Classifications

Socio-Economic Objective Classifications

Grants and Contracts

Research Grants, Contracts and Consultancies awarded to the University of Melbourne as the administering institution (since 2003) as recorded in Themis Agreements.

Grants

Title Role Funding Source Scheme Award Date
Risk management policies and practices of major Australian firms Chief Investigator AUST RESEARCH COUNCIL Linkage Projects 01/01/2006
Share Buybacks and Information Asymmetry: Winners and Losers Chief Investigator AUST RESEARCH COUNCIL Discovery Projects 01/01/2008

Contracts

Title Role Funding Source Award Date
TAXATION OF FINANCIAL ARRANGEMENTS (TOFA) FINANCIAL INSTRUMENTAL Chief Investigator DEPT OF TREASURY - ACT 30/09/2005

Additional Grant and Contract Information

2006, Melbourne Research Grant $20,000, “Share Buybacks and Information Asymmetry: Winners and Losers”

ARC Linkage Grant, 2006-2008, $77,204, “Risk management policies and practices of major Australian firms”

ARC Discovery Grant, 2008-2010, $143,000, "Share Buybacks and Information Asymmetry: Winners and Losers"

Publications

Publications produced at the University of Melbourne and reported in the Annual Publications Collection and 'Research Report' since 2001. The Themis Publications module, released in November 2006, allows additional publications from previous institutions and publications from past years to be entered.

Publications in 2007

Journal Articles

  • Public private partnerships: Incentives, risk transfer and real options
    Year: 2007
    Journal: Review of Financial Economics
    Volume: 16
    Issue: 4
    Page numbers: 335-349
    Author(s):
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  • The Announcement Effects of Off-Market Share Repurchases in Australia
    Year: 2007
    Journal: Australian Journal of Management
    Volume: 32
    Issue: 2
    Page numbers: 369-385
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  • The Sons of Gwalia Judgement
    Year: 2007
    Journal: InFinance
    Volume: 2007
    Issue: June
    Page numbers: 20-22
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Publications in 2006

Journal Articles

  • Credit Markets and the Sons of Gwalia Judgement
    Year: 2006
    Journal: Agenda - A Journal of Policy Analysis and Reform
    Volume: 13
    Issue: 3
    Page numbers: 239-252
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  • Effect of Taxation on Equal Access Share Buybacks in Australia
    Year: 2006
    Journal: International Review of Finance
    Volume: 5
    Issue: 3-4
    Page numbers: 199-218
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Publications in 2005

Journal Articles

  • Financing transport infrastructure: for whom the road tolls
    Year: 2005
    Journal: Australian Economic Review
    Volume: 38
    Issue: 4
    Page numbers: 431-438
    Publisher: Blackwell Publishing Asia
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  • Taxing capital protected equity products
    Year: 2005
    Journal: Agenda - A Journal of Policy Analysis and Reform
    Volume: 12
    Issue: 3
    Page numbers: 239-252
    Publisher: Australian National University, School of Economics
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  • The Impact of net buying pressure on implied volatilities observed from SPI futures options
    Year: 2005
    Journal: Review of Futures Markets
    Volume: 14
    Issue: 2
    Page numbers: 199-216
    Publisher: Kent State University
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Publications in 2004

Book Chapters

  • The new basel accord and advanced IRB approaches: is there a case for capital incentives?
    Year: 2004
    Book: The New Basel Capital Accord
    Publisher: Texere(California)
    Authors(s):

Journal Articles

  • Dividend protection at a price
    Year: 2004
    Journal: Journal of Derivatives
    Volume: 12
    Issue: 2
    Page numbers: 62-68
    Publisher: Institutional Investor(New York)
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  • The forensics of share buybacks
    Year: 2004
    Journal: JASSA - Journal of the Securities Institute of Australia
    Volume: 4
    Issue: Summer 2004
    Page numbers: 30-34
    Publisher: Securities Institute of Australia(Sydney)
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Publications in 2003

Book Chapters

  • Prudential regulation and competition in banking
    Year: 2003
    Book: Regulation and market access
    Publisher: Asia Pacific Press(Canberra)
    Authors(s):

Journal Articles

  • Risk-adjusted discount rates and projects of unequal lives
    Year: 2003
    Journal: Australian Accounting Review
    Volume: 13
    Issue: 1
    Page numbers: 57-65
    Publisher: CPA Australia(Melbourne)
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  • Transurban city link - hindsight view
    Year: 2003
    Journal: The Finance and Treasury Professional
    Volume: 15
    Issue: 3
    Page numbers: 18-20
    Publisher: The Finance and Treasury Associaty(Melbourne)
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Publications in 2002

Journal Articles

  • Capital Plus Warrants: The Capital Gains-Dividend Trade-off
    Year: 2002
    Journal: The Journal of Alternative Investments
    Volume: 4
    Issue: 4
    Page numbers: 70-80
    Publisher: Institutional Investor(New York)
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  • Credit Risk: The Case of First Interstate Bankcorp
    Year: 2002
    Journal: International Review of Financial Analysis
    Volume: 11
    Issue: 2
    Page numbers: 229-248
    Publisher: Elsevier Science
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  • Skewness and Kurtosis Implied by Option Prices: A Correction
    Year: 2002
    Journal: Journal of Financial Research
    Volume: XXV
    Issue: 2
    Page numbers: 279-282
    Publisher: Blackwell Publishers
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Publications in 2001

Journal Articles

  • Real-time cost management of aircraft operations
    Year: 2001
    Journal: Management Accounting Research
    Volume: 12
    Issue: 3
    Page numbers: 281-298
    Publisher: Academic Press
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  • The successful redenomination of a futures contract: The case of the Australian all ordinaries share price index futures contract
    Year: 2001
    Journal: Pacific-Basin Finance Journal
    Volume: 9
    Issue: 1
    Page numbers: 47-64
    Publisher: North-Holland
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Conference Publications/Papers

  • The Principles of Capital Risk Management of a Large Corporation
    Year: 2001
    Event name: Enhancing Shareholder Value Through Capital Risk Management
    Conference Publication: Enhancing Shareholder Value Through Capital Risk Management
    Volume: 1
    Page numbers: 148-162
    Publisher: Southwood Press(Sydney)
    Author(s):
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