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 (full-time)

• 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, The Bank of Tokyo; 1985-1986.
• Senior Funds Management Executive, Australian Industry Development Corporation; 1984-1985.
• Economic Research Officer and Assistant Foreign Exchange Dealer, the State Bank of New South Wales, Sydney; 1982-1984.

Research Areas

• Financial Market Development
• Financial Econometrics
• Fixed Income Markets
• Statistical Mechanics

SELECTED RECENT PUBLICATIONS AND EDITORIAL DUTIES

Journal Articles (2005-2009)

• “The Compass Rose Pattern in Electricity Prices”, (with M. Hamada). Chaos: An Interdisciplinary Journal of Nonlinear Science, forthcoming.
• “Volatility in the Gold Futures Market” (with Brian Lucey). Applied Economics Letters, forthcoming.
• “Is covered interest arbitrage extinct? Evidence from the US dollar-Japanese Yen”, (with Peter G. Szilagyi). Applied Economics Letters, forthcoming.
• "Testing for the Elasticity of Corporate Yield Spreads", (with G. Jacoby and C. 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 K. Thuraisamy and G. 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 Money 16(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 (2004-2009)

• "Currency Swaps and Australian Debt Management Practice" (with A. 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 W. 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 K. Thuraisamy and G. 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 P. 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.
• “Japanese Fixed Income Markets: Money, Bond and Interest Rate Derivatives” (with T. Fetherston and P. Szilagyi) Elsevier Science, Amsterdam Netherlands. ISBN: 0-444-52020-1, 464 pages, 2006.
• “Emerging European Financial Markets: Independence and Integration Post-Enlargement” (with C. 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 T. 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 T. Fetherston and P. Szilagyi), John Wiley & Sons Ltd, England (part of the Wiley Finance Series). ISBN 0-470-85053-1, Pages xx-484, 2004.