Professor John Goddard

Division: Financial Studies

 

Telephone: 01248 38 3221

Email: j.goddard@bangor.ac.uk

Profile

Professor of Financial Economics

John Goddard was appointed Professor of Financial Economics at Bangor University in 2005. He was previously Professor of Economics at Swansea University, and his other previous appointments were at University of Leeds and Abertay University. He also has several years’ practitioner experience in the UK life insurance industry. His research interests are in industrial organization, banking and financial institutions, and the economics of professional sports. He is coauthor of the monograph Economics of Professional Football (2nd edition, Cambridge University Press, 2011) and the textbook Industrial Organization: Competition, Strategy, Policy (4th edition, Pearson, 2013). A coauthored volume on banking for the Oxford Very Short Introductions series is scheduled for publication in 2016.  

Qualifications

  • MSc Economics, Birkbeck College, University of London
  • BA Economics, Lancaster University

Publications

Recent Publications

Regulatory change and capital management of US credit unions. Journal of Financial Services Research, 2016, 50, 29-55. Co-authors: D. McKillop and J. Wilson.

Banking: A Very Short Introduction. Oxford University Press, 2016. Coauthor: J. Wilson.

Long memory and multifractality: A joint test. Physica A, 2016, 451, 288-294. Coauthor: E. Onali.

Short-selling and exchange traded funds returns: Evidence from the London Stock Exchange. Applied Economics, 2016, 48, 152-164. Coauthors: A. Mohamad and A. Jaafar.

Investor attention and FX market volatility. Journal of International Financial Institutions, Markets and Money, 2015, 38, 79-96. Coauthors: Q. Wang and A. Kita.

Short-selling ban and cross-sectional contagion: Evidence from the UK. Journal of Asset Management, 2015, 16, 484-501. Coauthors: A. Mohamad and A. Jaafar.

Handbook on the Economics of Professional Football. Edward Elgar, 2015. Edited volume: coeditor P. Sloane.

Dealing with cross-firm heterogeneity in bank efficiency estimates: Some evidence from Latin America. Journal of Banking and Finance, 2014, 40, 130-142. Coauthors: P. Molyneux and J. Williams.

US credit unions: Survival, consolidation and growth. Economic Inquiry, 2014, 52, 304-319. Coauthors: D. McKillop and J. Wilson.

On the size distribution of financial institutions. International Journal of the Economics of Business, 2014, 21, 139-156. Coauthors: H. Liu, D. McKillop and J. Wilson.

The efficiency of soccer betting markets, in L. Vaughan Williams and D. Siegel (eds). The Oxford Handbook of the Economics of Gambling. Oxford University Press, 2014.

Information efficiency in high frequency betting markets, in L. Vaughan Williams and D. Siegel (eds). The Oxford Handbook of the Economics of Gambling. Oxford University Press, 2014. Coauthor: J.J. Reade.

Banking in the European Union: Deregulation, crisis and renewal, in A. Berger, P. Molyneux and J. Wilson (eds). The Oxford Handbook of Banking, 2nd edition. Oxford University Press, 2014. Coauthors: P. Molyneux and J. Wilson.

Accruals quality, stock returns and asset pricing: Evidence from the UK. International Review of Financial Analysis, 2013, 30, 203-213. Coauthors: S. Mouselli and A. Jaafar.

Industrial Organization: Competition, Strategy, Policy, 4th edition. FT Prentice Hall, 2013. Coauthors: J. Lipczynski and J. Wilson.

Do bank profits converge? European Financial Management, 2013, 19, 345-365. Coauthors: H. Liu, P.Molyneux and J. Wilson).

'Bank mergers and acquisitions in emerging markets: Evidence from Latin America and Asia', European Journal of Finance 2012, 18, 419-438. (with P Molyneux and T Zhou)

Self-affinity in financial asset returns, International Review of Financial Analysis, 2012, 24, 1-11 (with E. Onali).

Short and long memory in stock returns data, Economics Letters, 2012, 117, 253-255 (with E. Onali)

'Are European equity markets efficient? New evidence from fractal analysis', International Review of Financial Analysis, 20, April 2011, Pages 59-67. (with E. Onali).

'The persistence of bank profit', Journal of Banking and Finance, 2011, 35, 2881-2890 (with H Liu, P Molyneux and JOS Wilson)

The Economics of Football, 2nd ed. Cambridge University Press, 2011. (with S. Dobson).

The economics of football, 2nd edition. Cambridge University Press, 2011, (with S. Dobson).

Are European equity markets efficient? New evidence from fractal analysis, International Review of Financial Analysis, 2011, 20, 59-67 (with E. Onali).

The persistence of bank profit, Journal of Banking and Finance, 2011, 31, 2881-2890 (with H. Liu, P. Molyneux and J. Wilson).

Optimizing strategic behavior in a dynamic setting in professional team sports, European Journal of Operational Research, 2010, 205, 661-669. (with S. Dobson).

Optimizing strategic behavior in a dynamic setting in professional team sports, European Journal of Operational Research, 2010, 205, 661-669. Coauthor: S. Dobson.

Banking in the European Union, in A. Berger, P. Molyneux and J. Wilson (eds.) The Oxford Handbook of Banking, Oxford University Press, 2010, 807-843. Coauthors: P. Molyneux and J. Wilson.

The financial crisis in Europe: Evolution, policy responses and lessons for the future, Journal of Financial Regulation and Compliance, 2009, 17, 362-380. Coauthors: P. Molyneux and J. Wilson.

Capital adequacy and capital regulation of US credit unions, Bancaria, 2009, 65, 7/8, 43-55. Coauthors: D. McKillop and J. Wilson.

Unifractality and multifractality in the Italian stock market, International Review of Financial Analysis, 2009, 18, 154-163. Coauthor: E. Onali.

Competition in banking: A disequilibrium approach, Journal of Banking and Finance, 2009, 33, 2282-2292. Coauthor: J. Wilson.

Which credit unions are acquired?, Journal of Financial Services Research, 2009, 36, 231-252. Coauthors: D. McKillop and J. Wilson.

The crisis in UK banking, Public Money and Management, 2009, 29, 277-284. Coauthors: P. Molyneux and J. Wilson.

Industrial Organization: Competition, Strategy, Policy, 3rd edition. FT Prentice Hall, 2009. Coauthors: J. Lipczynski and J. Wilson.

Racial discrimination in English professional football: Evidence from an empirical analysis of players’ career progression, Cambridge Journal of Economics, 2009, 33, 295-316. Coauthor: J. Wilson.

Sources of variation in firm profitability and growth, Journal of Business Research, 62(4), 2009, 495-508. Coauthors: M. Tavakoli and J. Wilson.

The diversification and performance of US credit unions, Journal of Banking and Finance, 32(9), 2008, 1836-1849. Coauthors: D. McKillop and J. Wilson.

Dividends, prices and the present value model: firm-level evidence, European Journal of Finance, 14(3), 2008, 195-210. Coauthors: D. McMillan and J. Wilson.

What drives the performance of cooperative financial institutions? Evidence for US credit unions, Applied Financial Economics, 18(11), 2008, 879-893. Coauthor: J. Wilson.

Efficiency and welfare implications of managed public sector hospital waiting lists, European Journal of Operational Research, 2008, 184, 778-792. Coauthor: M. Tavakoli.

European banking: An overview, Journal of Banking and Finance, 2007, 35, 1911-1935. Coauthors: P. Molyneux, J. Wilson and M. Tavakoli.

Who transfers credit risk? Determinants of the use of credit derivatives by large US banks, European Journal of Finance, 2007, 13, 483-500. Coauthors: D. Ashraf and Y. Altunbas.

Are football referees really biased and inconsistent? Evidence on the incidence of disciplinary sanction in the English Premier League, Journal of the Royal Statistical Society A, 2007, 170, 231-250. Coauthors: P. Dawson, S. Dobson and J. Wilson.

Forecasting scores and results and testing the efficiency of the fixed-odds betting market in Scottish football, in J. Albert and R. Koning (ed.), Statistical thinking in sports, Chapman and Hall, 2007. Coauthor: S. Dobson.

Who wins the football?, Significance, 2006, 3, 16-19.

The efficiency of the UK fixed-odds betting market for Euro 2004, International Journal of Sports Finance, 2006, 1, 21-32. Coauthor: S. Thomas.

Modelling employment durations of NHL head coaches: Turnover and post-succession performance, Managerial and Decision Economics, 2006, 27, 293-306 Coauthors: R. Audas and W.G. Rowe.

The economics of soccer, in W. Andreff and S Szymanski (eds.), Handbook on the Economics of Sport. Edward Elgar, 2006.

The stock market effects of the sale of live broadcasting rights for English Premiership football: An event study, Journal of Sports Economics, 2006, 7, 168-185. Coauthors: J. Gannon and K. Evans.

Dividend smoothing versus dividend signalling, Managerial Finance, 2006, 32, 493-504. Coauthors: D. McMillan and J. Wilson.

Do firm sizes and profit rates converge? Evidence on Gibrat’s Law and the persistence of profits in the long run, Applied Economics, 2006, 38, 267-278. Coauthors: D. McMillan and J. Wilson. 

Determinants of profitability in European manufacturing and services: evidence from a dynamic panel model, Applied Financial Economics, 2005, 15, 1269-1282. Coauthors: M. Tavakoli and J. Wilson. 

Odds setters as forecasters: the case of English football, International Journal of Forecasting, 2005, 21, 551-564. Coauthors: D. Forrest and R. Simmons.

Regression models for forecasting goals and results in professional football, International Journal of Forecasting, 2005, 21, 331-340.

Home advantage and the debate on competitive balance in professional sports leagues, Journal of Sports Sciences, 2005, 23, 439-445. Coauthors: D. Forrest, J. Beaumont and R. Simmons.

Panel unit root tests of the size and growth of large US credit unions, Managerial Finance, 2005, 31, 10, 36-49. Coauthors: D. McKillop and J. Wilson.

US credit unions: An empirical investigation of size, age and growth, Annals of Public and Cooperative Economics, 2005, 76, 375-406. Coauthor: J. Wilson.

Industrial Organization: Competition, Strategy, Policy, 2nd edition. FT Prentice Hall, 2005. Coauthors: J. Lipczynski and J. Wilson.

Economics of sport, in S. Bowmaker (ed.), Economics uncut: An alternative guide to the dismal science, Edward Elgar, 2005. Coauthor: P. Sloane.

Dynamics of growth and profitability in banking, Journal of Money, Credit and Banking, 2004, 36, 1069-1090. Coauthors: P. Molyneux and J. Wilson.

Forecasting football match results and the efficiency of fixed-odds betting, Journal of Forecasting, 2004, 23, 51-66. Coauthor: I. Asimakopoulos.

Revenue divergence and competitive balance in a divisional sports league, Scottish Journal of Political Economy, 2004, 51, 359-376. Coauthor: S. Dobson.

The profitability of European banks: A cross-sectional and dynamic panel analysis, Manchester School, 2004, 72, 363-381. Coauthors: P. Molyneux and J. Wilson.

Shareholders and corporate elections, Journal of Management and Governance, 2004, 8, 173-186. Coauthors: S. Chakravarty and L. Hodgkinson.

Modelling and forecasting match tesults in the English Premier League and Football League, in S. Butenko, J. Gil-Lafuente and P.M. Pardalos (eds.), Economics, management and optimization in sports, Springer, 2004. Coauthor: S. Dobson. 

Ownership and finance of professional football in England and Europe, in R. Fort and J. Fizel (eds.), International sports economics comparisons, Praeger, 2004. Coauthor: S. Dobson. 

Persistence in sequences of football match results: A Monte Carlo analysis, European Journal of Operational Research, 2003, 148, 247-256. Coauthor: S. Dobson.

The impact of managerial change on team performance in professional sports, Journal of Economics and Business, 2002, 54, 633-650.Coauthors: R. Audas and S. Dobson.

The growth of US credit unions, Journal of Banking and Finance, 2002, 22, 2327-2356. Coauthors: D. McKillop and J. Wilson.

Panel tests of Gibrat’s Law for Japanese manufacturing, International Journal of Industrial Organization, 2002, 20, 415-433. Coauthors: J. Wilson and P. Blandon.

Cross sectional and panel tests of convergence, Economics Letters, 2001, 70, 327-333. Coauthor: J. Wilson.

Revenue convergence in the English soccer league, Journal of Sports Economics, 2001, 2, 257-274. Coauthors: S. Dobson and C. Ramlogan.

League structure and match attendances in English rugby league, International Review of Applied Economics, 2001, 15, 335-351. Coauthors: S. Dobson and J. Wilson.

Absenteeism, seasonality and the business cycle, Journal of Economics and Business, 2001, 53, 405-419. Coauthor: R. Audas. 

The economics of football, Cambridge University Press, 2001. Coauthor: S. Dobson.

European banking: technology, efficiency and growth, John Wiley and Sons, 2001. Coauthors: P. Molyneux and J. Wilson.

Activities

Visiting appointments   

Ente Luigi Einaudi, Rome (2007)
University of Crete, Greece (2008)

Prestigious awards

(i)     a one-year Leverhulme Research Fellowship in 2002 (the success rate for applications was 10%);

(ii)     a three-month Targeted Research Fellowship by Entre Luigi Einaudi in 2007, to work on the Bank of Italy’s Competition in Banking and Financial Markets project;

(iii)    a four-month Fellowship by the Marie Curie Foundation in 2007 (to be taken up in Spring 2008) to work with Kanas on a collaborative project on econometric modelling of long-duration financial time series, based at the University of Crete.

Editorial board membership

International Journal of Sports Finance, Journal of Sports Economics

PhD external examinations

St Andrews, Lancaster

Keynote addresses, and other prestigious guest presentations

Invited speaker – Institute for Operations Research and Management Sciences annual conference, San Francisco (2005)
UK Government Statistical Service conference for statistical officers (2006)

Organisation of conferences, learned societies and consortia

Member of the Scientific Committee for the 2007 International Conference in Mathematical Modelling in Sport, organised by the Institute of Mathematics and its Applications (IMAS)

Other indicators of the impact of research

The outstanding quality of research by John Goddard into the financial and competitive structure of professional sport has been emphasised consistently by book reviewers (British Journal of Industrial Relations, Review of Industrial Organization, Economic Record), highlighting in particular the advanced econometric technique. The statistical analyses by Goddard on football received widespread publicity in 2006, including The Times, The Guardian, The Daily Mail and The Sun.