David R. Gallagher

Associate Professor of Finance
BEc Macq MCom W'gong PhD Syd

 

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  Quadrangle Room: 3031B
Phone Number: +61 2 9236 9106
Fax Number: + 61 2 9231 5988
Email Address: david.gallagher@unsw.edu.au
 

Research Interests

  • Investment Management
    • Performance measurement
    • Portfolio design and trading strategies
    • Risk management
    • Corporate governance and incentive arrangements
    • Behavioural finance
  • Market Microstructure

Biographical Information

David R. Gallagher is an Associate Professor in the School of Banking and Finance at The University of New South Wales.  Dr Gallagher is also a Research Director at SIRCA Limited, a Director of Portfolio Analytics Pty Limited, and is a participant in research and commercialisation work with the Capital Markets CRC Limited.  His research interests and expertise are primarily in the area of investment management.  

Dr Gallagher has published in both academic and industry journals, and he maintains an active research agenda. He seeks to be an active contributor to investment thought within the profession, and has been the recipient of a number awards in recognition of scholarship and research excellence. These include both the 2000 and 2003 JASSA Prize from the Securities Institute of Australia, and a Discovery Grant awarded from the Australian Research Council.  Dr Gallagher has also undertaken consulting research with Mercer Investment Consulting, Vanguard Investments and ING Australia.

Dr Gallagher earned his Ph.D. (Finance) from the School of Business at The University of Sydney. He also holds Bachelor of Economics and Master of Commerce degrees, both majoring in finance.  Prior to undertaking postgraduate studies in 1998, he was a Financial Analyst at Towers Perrin in the asset consulting division.

Publications (Refereed)

Books

  • 'A Review of the Australian Financial Services Industry', Published by Business Excellence Australia, December, 2003 (with Michael J. Aitken, Nick Chappel, John R. Evans, Alex Frino, Deborah Ralston)
  • ‘Retirement Provision in Scary Markets’, contributing author for the chapter titled ‘The Role of Indexes in Retirement Asset Allocations’, Edited by H. Bateman and J. Piggott, Published by Edward Elgar Publishers, U.K., Forthcoming 2005
  • ‘Modern Developments in Funds Management’, Edited by D.E. Allen, Published by Edward Elgar Publishers, U.K., (contributing author with D.E. Allen, R. Bird, J. Parwada, V. Soucik) Forthcoming 2005

Papers Currently Under Review at Refereed Journals

Working Papers

  • 'Double or Nothing: Patterns in Equity Fund Holdings and Transactions' (with Stephen J. Brown, Onno W. Steenbeek and Peter L. Swan)
  • 'Institutional Trading and Share Returns' (with F. Douglas Foster and Adrian Looi)
  • 'The Association of Corporate Governance Ratings with Institutional Investor Trading Activity' (with Philip Brown and Raymond da Silva Rosa)
  • 'Execution Costs, Fund Size and Performance' (with Howard Chan, Robert Faff and Adrian Looi)
  • 'Portfolio Concentration and Investment Manager Performance' (with Simone Brands and Stephen J. Brown)
  • 'The Tax-Induced Trading Behaviour of Professional Investment Managers' (with Kingsley Fong and Peter L. Swan)

Research Grants

  • 2003-2005: Australian Research Council Discovery Grant (DP0346064) $193,000: Evaluating the Performance of Active Australian Equity Managers Utilising Daily Portfolio Holdings and Trades (with Peter L. Swan).
  • 2002: Axiss Australia, Capital Markets CRC Research Grant, $100,000 (cash and in-kind) (UNSWA/RE978/BANKFIN/RM01073): Review of Australia's Financial Services Industry, with a major emphasis on the Wealth Management sector (with Michael J. Aitken).
  • 2000-2003: Mercer Investment Consulting Global Investment Forum (undisclosed), Evaluation of Investment Management Research Projects.

Teaching Responsibilities

  • FINS2643 – Wealth Management
  • FINS5510 – Personal Financial Planning and Management
  • MFIN6203 – Applied Portfolio Management

Administrative Responsibilities

  • Co-op Program (Finance) - Director
  • Investment Management Program - Coordinator

Conference and Seminar Presentations

  • 2004: Monash University, AFAANZ Conference (Alice Springs), The University of Melbourne, The University of New South Wales, The University of Queensland, The University of Western Australia, The Reserve Bank of Australia (Sydney), Financial Standard Conference (Melbourne).
  • 2003: Sydney Society of Financial Analysts, Mercer Investment Consulting, IMN Australia Cup of Indexing (Sydney), The University of Melbourne, Financial Standard Conference (Sydney), Monash University, The University of Sydney, Mercer Investment Consulting Global Investment Forum (Sydney), Australasian Finance and Banking Conference (Sydney).
  • 2002: The University of Western Australia, The Australian National University, Australasian Finance and Banking Conference (Sydney).
  • 2001: SIRCA Funds Management Conference, Sydney Society of Financial Analysts, Mercer Investment Consulting Global Investment Forum (Melbourne), Investment Managers and Consultants Association (IMCA) (Sydney and Melbourne).

Social Science Research Network (SSRN) Author Profile

Monographs/Reports