Jonathan BATTEN Adjunct Professor Email: jabatten@ust.hk   PhD 1997 The University of Sydney, Financial Economics MBA 1987 The NSW Institute of Technology, Sydney BBus 1982 NRCAE Data Processing

Academic

• Adjunct Professor, Department of Finance, Hong Kong University of Science & Technology; August 2006 - present.
• External Research Associate, Institute for International Integration Studies (IIIS); Trinity College, Dublin; March 2005 – present.
• Professor of Management, Graduate School of Management; Macquarie Graduate School of Management; August 2004 - 2009.
• Visiting Professor of Finance, Seoul National University, Korea; August 2002 – August 2005.
• Honorary Professor of Arts, Deakin University, Melbourne; November 2002 - 2007.
• Professor of Finance, Deakin University, Melbourne; March 2000 – August 2002.
• Senior Research Fellow, Nanyang Technological University Singapore; January 1999 to March 2000.
• Senior Lecturer in Finance, University of Western Sydney; 1997-1999, 1990-1995.

Professional

• External consultant to the Asian Development Bank; 2000-present.
• Ad hoc consultant to American Express Bank and Reuters Asia; 1997-2003.
• Senior Consultant, Asia-Pacific Banking and Finance Group, IBM Consulting Group (Singapore); 1995-1996.
• Senior Dealer/Manager Treasury, Credit Lyonnais; 1986-1990.
• Senior Dealer Foreign Exchange, Bank of Tokyo; 1985-1986.
• Senior Funds Management Executive, Australian Industry Development Corporation; 1984-1985.
• Economic Research Officer and Assistant Foreign Exchange Dealer, State Bank of New South Wales, Sydney; 1982-1984.

Editorial Duties

• Editor: Emerging Markets Review http://www.elsevier.com/wps/find/journaldescription.cws_home/620356/description#description
   
• Co-editor: International Review of Financial Analysis http://www.elsevier.com/wps/find/journaldescription.cws_home/620166/description#description
   
• Associate Editor: Journal of Banking & Finance: http://www.elsevier.com/wps/find/journaldescription.cws_home/505558/description#description
   
• Associate Editor: Journal of the Asia Pacific Economy http://www.tandf.co.uk/journals/titles/13547860.asp
   
• Associate Editor: Research in International Business and Finance http://www.elsevier.com/wps/find/journaldescription.cws_home/699534/description#description

PUBLICATIONS

Research Areas

• Financial Market Development
• Financial Econometrics
• Fixed Income Markets
• Non Linear Dynamics

Forthcoming Papers

• “Threshold Non-Linear Dynamics between Hang Seng Stock Index and Futures Returns” (with Hon-Lun Chung and Wai-Sum Chan). The European Journal of Finance.
• “The Role of Foreign Bond Issuance: The Case of Australia”, (with Warren P. Hogan and Peter G. Szilagyi). The Australian Economic Review.
• “The Recent Internationalisation of Japanese Banks" (with Peter G. Szilagyi). The Japanese Economy.
• “Asia Pacific Perspectives on the Global Financial Crisis: 2007-2009”, (with Warren P. Hogan and Peter G. Szilagyi) in Suk-Joong Kim and Michael D. McKenzie (editors), “International Finance Review” Volume 11, “International Banking in the New Era: Post-Crisis Challenges and Opportunities . The Emerald Group Publishing, U.K.

Journal Articles (2005-2010)

• "Macroeconomic Determinants of Volatility in Precious Metals Markets", (with Cetin Ciner and Brian M. Lucey), Resources Policy 35(2): 65-71. 2010.
• "The Determinants of Equity Portfolio Holdings”, (with Xuan Vinh Vo), Applied Financial Economics 20: 14, 1125 — 1132. 2010.
• "Volatility in the Gold Futures Market", (with Brian Lucey). Applied Economics Letters, 17 (2): 187 – 190. 2010.
• "Is covered interest arbitrage extinct? Evidence from the US dollar-Japanese Yen", (with Peter G. Szilagyi). Applied Economics Letters, 17 (3): 283-287. 2010.
• "The Compass Rose Pattern in Electricity Prices", (with Mahmoud Hamada). Chaos, 19(4):December- 043106, 2009
• "Testing for the Elasticity of Corporate Yield Spreads", (with Gady Jacoby and Chuan Liao). Journal of Financial and Quantitative Analysis, 44: 641-656, 2009.
• "An Analysis of the Relationship between FDI and Economic Growth", (with Xuan Vinh Vo). Applied Economics, 41(13): 1621-1641, 2009.
• "Predicting the Event and Time Horizon of Bankruptcy Using Financial Ratios and the Maturity Schedule of Long-Term Debt", (with Leonid V. Philosophov and Vladimir L. Philosophov). Mathematics and Financial Economics, 1(3): 181-212, 2008.
• "The Credit Spread Dynamics of Latin American Euro Issues in International Bond Markets", (with Kannon Thuraisamy and Gerard Gannon). Journal of Multinational Financial Management. 18: 328-345, 2008.
• "Sample Period Selection and Long-Term Dependence: New Evidence from the Dow Jones", (with Craig Ellis and Thomas Fetherston). Chaos, Solitons & Fractals, 36 (5): 1126-1140, 2008.
• "Domestic Bond Market Development: The Arirang Bond Experience in Korea." (with Peter G. Szilagyi). World Bank Research Observer, 22: 165-195, 2007.
• "Covered Interest Parity Arbitrage and Temporal Long-Term Dependence between the US dollar and the Yen", (with Peter G. Szilagyi). Physica A: Statistical Mechanics and its Applications, 376: 409-421, 2007.
• "Dynamic Interaction and Valuation of Quality Yen Eurobonds in a Multivariate EGARCH Framework", (with Francis In). Applied Financial Economics, 16(12): 881-892, 2006.
• "Modelling Credit Spreads on Yen Eurobonds in an ECM Environment", (with Seppo Pynnonen and Warren P. Hogan). Applied Financial Economics, 16(8): 583- 606, 2006.
• "Factors Affecting the Yields of Asian Issues in International Bond Markets", (with Thomas Fetherston and Pongsak Hoontrakul). Journal of International Financial Markets, Institutions and Money16(1): 57-60, 2006.
• "Interest Rates, Stock Market Returns, and Variations in German Credit Spreads", (with Warren P. Hogan and Niklas Wagner). Economic Notes, 34(1): 35-50, 2005.
• "Measuring Credit Spreads: Evidence from Australian Eurobonds", (with Warren P. Hogan and Gady Jacoby). Applied Financial Economics, 15(9): 651-666, 2005.
• "Statistical Illusions and Long-Term Return Anomalies on the Nikkei", (with Craig Ellis and Thomas Fetherston). Chaos, Solitons & Fractals, 23: 1125-1136, 2005.
• "Decomposing Intraday Dependence in Currency Markets: Evidence from the AUD/USD Spot Market", (with Craig Ellis and Warren P. Hogan). Physica A: Statistical Mechanics and its Applications, 352(2-4): 558-572, 2005.

Books and Book Chapters (2005-2010)

• “Modelling the US Swap Spread”, (with Hon-Lung Chung, Wai-Sum Chan) Research in Finance, Volume 26: 161-188. Emerald Group Publishing Limited: ISSN: 0196-3821/ doi:10.1108/S0196-3821(2010)0000026010. 2010.
• "Currency Swaps and Australian Debt Management Practice" (with Alham Yusef) in J. Choi and M. Papaioannou (editors) "International Finance Review" special issue, "Credit, Currency or Derivatives: Instruments of Global Financial Stability or Crisis". Volume 10: 293-327, 2009. The Emerald Group Publishing, U.K.
• "Markets, Disturbances and Responses”, (with Warren P. Hogan) in K. Puttaswamaiah (ed.) in “Milton Friedman: Nobel Monetary Economist- A Review of his Theories and Policies," Isle Publishing Company, New Hampshire, USA. ISBN 978-0-9823895-0-8, pages 37-48, 2009.
• "Credit Spread Dynamics: Evidence from Latin America" (with Kannon Thuraisamy and Gerard Gannon) in Wagner N. (ed.): Credit Risk – Models, Derivatives and Management, Financial Mathematics Series Vol. 6, Chapman & Hall / CRC, Boca Raton, London, New York, pages 97-114, 2008.
• "What are the Next Steps for Bond Market Development in Thailand?" (with Pongsak Hoontrakul) in S-K. Kim and M. McKenzie, Editors, “Asia Pacific Financial Markets: Integration, Innovation and Challenges”, International Finance Review, Volume 8: 497-519, 2007. Elsevier Science, Amsterdam Netherlands.

Edited Research Volumes

• "Japanese Fixed Income Markets: Money, Bond and Interest Rate Derivatives",(with Thomas Fetherston and Peter G. Szilagyi) Elsevier Science, Amsterdam Netherlands. ISBN: 0-444-52020-1, 464 pages, 2006.
• "Emerging European Financial Markets: Independence and Integration Post-Enlargement", (with Colm Kearney), International Finance Review Volume 6, Elsevier Science, Amsterdam Netherlands. ISBN: 0-7623-1264-5, Pages vii-515, 2006.
• "Asian Pacific Financial Markets in Comparative Perspective", Contemporary Studies in Economics and Financial Analysis (with Thomas Fetherston), Volume 87, Elsevier Science, Amsterdam Netherlands. ISBN 0-7623-1258-0, Pages vii-514, 2005.
• "European Fixed Income Markets: Money, Bond and Interest Rate Derivatives", (with Thomas Fetherston and Peter G. Szilagyi), John Wiley & Sons Ltd, England (part of the Wiley Finance Series). ISBN 0-470-85053-1, Pages xx-484, 2004.